wry Posted March 11, 2019 #1 Posted March 11, 2019 Up until today I had not given much serious thought to Facebook coin, after all, it's about as classic a joke as you can find in the crypto universe, e.g.: (Note the date!) However, today a news story crossed my path that if Facebook did in fact issue a coin it could generate $3 to $19 billion (that's billion with a b) USD by 2021. Facebooks total revenue last year was $40 billion, so this could be a very big deal. Apparently they tried "Facebook Credits" between 2010-12 but this would be a different issue. Frankly, I think the Barclay's analyst is off, this just doesn't make sense. What would the market for Facebook coins be? After all, the platform is "free" as Facebook's users are not its customers but its product! Facebook appears serious however, the article notes that they have over 20 listings on their recruitment page looking for people with knowledge of crypto and blockchain! Let me know if you need to know why manhole covers are round! Anyway, for those people who want Facebook to learn even MORE about this, I guess this coin will be for you! I'm passing, unless Stake adds it as a wagering option! Link: https://www.coindesk.com/facebook-coin-could-generate-billions-in-revenue-barclays-analyst
polor12 Posted March 11, 2019 #2 Posted March 11, 2019 can this actually mean a competitive trade in the coin market.. billion dollar company to get a coin under the same name..to see if its popularity would be enough to devalue BTC..wonder why they would just add bitcoin to their company...just another coin to be added to just sit there.. unless they buy their own coin to bring up the value..
skillex Posted March 11, 2019 #3 Posted March 11, 2019 Its really surprising maybe by means of their advertisements or to generate an auto post with recommended by facebook mark on every advertisement being endorsed by them, maybe the fb coin will be of usage then.
KiXxnTRiXx Posted March 12, 2019 #4 Posted March 12, 2019 haha.. still a joke to me!.. but it may do well to be honest.. imagine all tha facebook junkies thats playing all that crap games paying with facebook coins to unlock extra features.. smart move and surprised it took them this long to get it going... the next coming of a joke coin coming to reality like doge..
Etude Posted March 12, 2019 #5 Posted March 12, 2019 If Facebook coin were to really be released it would have such a niche feeling to it being already a established social media powerhouse. Much fascinating indeed to see it actually happen. :o
bmg Posted March 13, 2019 #6 Posted March 13, 2019 On 3/11/2019 at 8:51 PM, Etude said: If Facebook coin were to really be released it would have such a niche feeling to it being already a established social media powerhouse. Much fascinating indeed to see it actually happen. :o I agree it will need much franchising to it happen but it is Facebook we are talking about after all.
williamshennie9 Posted March 13, 2019 #7 Posted March 13, 2019 It still sounds like a joke to me, even though it has a lot of potential. It kind of reminds me of Dogecoin. Let's see, for all I know, it may be the next big hit
Shaniqua Posted March 14, 2019 #8 Posted March 14, 2019 On 3/11/2019 at 4:32 PM, polor12 said: can this actually mean a competitive trade in the coin market.. billion dollar company to get a coin under the same name..to see if its popularity would be enough to devalue BTC..wonder why they would just add bitcoin to their company...just another coin to be added to just sit there.. unless they buy their own coin to bring up the value.. well i think due to to popularity of facebook, a facebook coin would be more comfortably purchased by people who know nothing of crpto currency or digital curencies so i dont think it would be just another coin but a very prominent one if it ever comes to be. even if it has no functionality lol
Kate Posted March 14, 2019 #9 Posted March 14, 2019 What if facebook provides or rewards facebook coins or Fb Coins for being active on social media ? But to earn you have to go through some KYC. How would this be ? What do you guys think ?
ceastem Posted March 14, 2019 #10 Posted March 14, 2019 1 hour ago, Kate said: What if facebook provides or rewards facebook coins or Fb Coins for being active on social media ? But to earn you have to go through some KYC. How would this be ? What do you guys think ? I don't think Facebook will give out money or coins like that. Maybe they will have it as a currency in facebook that a person needs to use if they want their products advertised. Also, if it gets down to what you said, i get it as a comparison with stake forum site. it would be chaotic since it would surely be abused and maybe facebook cannot check each post/activity individually due to billions of users using it every day. Additionally, i think they would avoid giving out money freely. imagine giving at least a dollar per user per month ( i think that's slow enough) it would already be a 2billion dollar worth of loss for them and they got nothing from it. I am using facebook a lot and i am getting annoyed now due to tons of paid advertisements popping out of most videos (especially now that it is almost election season here). I am sure that this coin will skyrocket because of facebook's continuous growth in social media. More and more users are signing up and more and more businesses use this chance to promote their products which might increase facebook's coin worth.
Kate Posted March 15, 2019 #11 Posted March 15, 2019 23 hours ago, ceastem said: I don't think Facebook will give out money or coins like that. Maybe they will have it as a currency in facebook that a person needs to use if they want their products advertised. Also, if it gets down to what you said, i get it as a comparison with stake forum site. it would be chaotic since it would surely be abused and maybe facebook cannot check each post/activity individually due to billions of users using it every day. Additionally, i think they would avoid giving out money freely. imagine giving at least a dollar per user per month ( i think that's slow enough) it would already be a 2billion dollar worth of loss for them and they got nothing from it. I am using facebook a lot and i am getting annoyed now due to tons of paid advertisements popping out of most videos (especially now that it is almost election season here). I am sure that this coin will skyrocket because of facebook's continuous growth in social media. More and more users are signing up and more and more businesses use this chance to promote their products which might increase facebook's coin worth. Facebook is now dead mainly because of their paid ads. But what if they do that because now adays there are social medias where you get paid for interactions on their site.
ceastem Posted March 15, 2019 #12 Posted March 15, 2019 1 hour ago, Kate said: Facebook is now dead mainly because of their paid ads. But what if they do that because now adays there are social medias where you get paid for interactions on their site. Well maybe it differs between countries. Because here everybody uses facebook despite having tons of advertisements. Although i gotta admit it is very annoying Can you give me social medias that pays for interaction? I will try a few haha
Kate Posted March 15, 2019 #13 Posted March 15, 2019 17 minutes ago, ceastem said: Well maybe it differs between countries. Because here everybody uses facebook despite having tons of advertisements. Although i gotta admit it is very annoying Can you give me social medias that pays for interaction? I will try a few haha In my country everyone uses Instagram lol . Well i have come across one called sphere you can try it out but problem is it will take some time for them to approve your account.
wry Posted May 3, 2019 Author #14 Posted May 3, 2019 WOW!!! It wasn't a joke!!!! Sure enough, the Wall Street Journal reported on its front page that Facebook has been actively considering a crypto coin and payment system integrated with its site for a year now! Wow!!! They call it Project Libra. They should call it, "We are sorry for saying all crypto coins are ponzi schemes." So glad to see that Bitcoin is up big on the news! The Wall Street Journal is behind a paywall, but you can read a summary of the story here: https://www.coindesk.com/facebook-in-talks-to-build-ecosystem-for-planned-stablecoin-wsj
Shaniqua Posted May 3, 2019 #15 Posted May 3, 2019 cmon but really.. at the end of the day... they are all jokes.... only the main crypto ones will ever be imo widely user or accrepted in the cryptoo/token world.... idk mnaybe im wrong.... but ... idk... feels like a joke even tho its gonna be real
VvP32 Posted May 5, 2019 #16 Posted May 5, 2019 There was a similar story in the Russian social network. Vk.com so there was a vk coin. April Fool's joke turned into a real contest! People even began to perceive it as a real currency!
Babagucci Posted May 6, 2019 #17 Posted May 6, 2019 What's the latest news on this story, anyone know when the coin is going to launch?
wry Posted May 18, 2019 Author #18 Posted May 18, 2019 Another nice update on this topic! Facebook has registered a company in Switzerland to house their Libra project! Link: https://www.coindesk.com/facebook-registers-secretive-libra-cryptocurrency-firm-in-switzerland I have such mixed feelings on this. I would not trust Facebook with ANYTHING, much less any money, but I guess it will help cryptocurrency go further mainstream. Is anyone looking forward to "Libra"?
nuuuitsjdragon Posted May 18, 2019 #19 Posted May 18, 2019 Although still prominent as one of the social leaders, Facebook hasn’t piqued my interest and I have not really used it since (unless needed by other apps etc.) The whole drama behind them abusing consumer data was an even stronger reason for me to consider not even using them at all and deleting the account. Sigh, Facebook accounts are never really purged fully though right?
rajamishra Posted May 18, 2019 #20 Posted May 18, 2019 wow its a huge news for us if its coin lunches hope last few months its on so much controversy for his unethical nature so try to established now through coin now ,if it happen its directly big pushup for cryptoworld to moon.
coeghacked Posted May 18, 2019 #21 Posted May 18, 2019 hmmmmm for me this is impossible. because Facebook has been the biggest site to fight crypto
Menang Posted May 18, 2019 #22 Posted May 18, 2019 Well if its true facebook will launch their own coin, maybe I will buy and Invest because they are huge and reputable company
ivaylo2000 Posted May 18, 2019 #23 Posted May 18, 2019 Now is time to GoogleCoin This corporations want to control all world
peel1 Posted May 18, 2019 #24 Posted May 18, 2019 guess the whole decentralized thing gone out the window then
wry Posted May 18, 2019 Author #25 Posted May 18, 2019 15 hours ago, coeghacked said: hmmmmm for me this is impossible. because Facebook has been the biggest site to fight crypto Interestingly, at the same time they also announced they were relaxing their restrictions on ads for cryptocurrencies. So they appear to be backing off of this a bit. Makes perfect sense, they do what they can to supress the industry until they think they can take it over. And yeah, no decentralization for this coin. In Zuck we trust.
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