Bitcoin Forum

Hello everyone!

This is the latest news update!

Facebook is reportedly planning to launch its own cryptocurrency, according to a report from Cheddar’s Alex Heath.
It’s not the first time the idea of a Facebook coin has been floated, but the plans take on some greater meaning in light of Facebook’s recently reshuffled executive structure and newly formed blockchain group.

Citing anonymous sources familiar with the matter, senior reporter Alex Heath said that the company whose $533 billion market cap is a $140 billion larger than the current cryptocurrency market cap — is holding serious, high-level discussions about directing the focus of its blockchain research team toward releasing its own cryptocurrency.

Cheddar’s report follows an announcement from Facebook’s head of Messenger David Marcus, who said on Tuesday that he plans to leave his current position in order to explore uses of the blockchain at Facebook. At the time, Marcus didn’t mention any possible applications for the blockchain.

Facebook’s work on blockchain technology and cryptocurrency will likely take years to materialize. People familiar with the matter said the social network doesn’t have plans to hold a so-called initial coin offering (ICO) by offering a limited number of virtual tokens for the public to buy at a set price.

Facebook will likely need to make acquisitions in the blockchain and cryptocurrency space to develop its own virtual currency, one of the people said. Blockchain technology could also be used to help Facebook verify the identity of accounts and encrypt data.

US media reports indicated that a disagreement with Facebook over the privacy of user data may have also been a factor in Koum’s decision to quit his position as a high-ranking executive and likely leave his seat on the board at the leading online social network.

 
For more information click here news link source. https://news.bitzamp.com/facebook-is-reportedly-planning-to-launch-its-own-cryptocurrency/


What is your ideas and opinions about this current news? Is this planning affects crypto currency or crypto world?
Or this event can helps people ?


Thank you!

If Facebook launches its own crypto currency, this will become a serious support for the entire crypto market. This means that despite all its criticisms of crypto-currencies, Zuckerberg and transnational corporations positively assess the prospects for the crypto-currency market and the innovative nature of the blockchain technology.

Facebook Adopt blockchain technology for their projects its true, and media make a speculation about own cryptocurrency.

If they will make a cryptocurrencies, i think there is no reason to ban ICO ads/campaign on FB.

The question you should ask yourself is this, Would you trust a Crypto coin that are managed by one of the biggest social media platform, reporting to the US government? One of the problem with these coins with their centralized authority is the anonymity. Your coins will be linked to your Facebook account and they will have access to all your consumer spending data.

I think they will also use their resources for the mining of these coins, to keep control over this. So they will have full control over your coins.

Im not quite sure about facebook making their own cryptocurrency.  Surely they've seen the trchnology behind it and may adopt it in their social media website. Mark Zuckerberg is a very technical person. Surely he understands blockchain technology and sees the positivitythis might bring to his social media site.

You think that many people will care, first things first if and when they release their crypto many people will find it to be good idea and they wouldn't see the problem because of Facebook tweaking it and showing how good it will be. Secondly this is huge problem I agree, same thing is problem with steem which is decentralized but fully transparent. Imagine if online merchants start to accept this facebook coin and people start buying things with it. It will make it even more easier for companies to track what you do and base adds because then they are sure how you spend your money. They are not giving power to people they are taking it away, same thing when people post their lives there and find it surprising that facebook has their details and that it is selling it to others. But people continue to use them and they will until something clicks in their heads.

It will be very funny if Mark looking at Pavel Durov also wants to conduct an ICO and collect more money))) This will be the battle of two giants, how do you think ICO Facebook will collect more money than  ICO telegram? )))

Yes this is interesting news hopefully this happened not just news. Since yesterday there was a telegram news wanting to launch ICO but that did not happen. And if Facebook successfully launched this ICO very much demand.

Oh well, that's a good news for me. If Facebook planning to launch its own cryptocurrency then it means that they will not ban any crypto related advertisements. And I think they will gain full support cuz Facebook is the biggest social media platform right now. :)

To my mind it will not look like a battle, the situation with Durov is not the same ))) But what about Facebook coin. In case it happens, to my mind it should be taken into consideration that not everyone who uses Facebook is engaged into cryptocurrency. So it would be great to leave the place for that who likes to use Facebook but not being bonded to crypto.To my mind it will not like a battle, the situation with Durov is not the same ))) But according to the Facebook coin. In case it happens, to my mind it should be taken into consideration that not everyone who uses Facebook is engaged into cryptocurrency. So it would be great to leave the place for that who likes to use Facebook but not being bonded to crypto.

The creation by Facebook of its crypto currency, which I'm sure and argee with you, will be centralized, suggests that existing and emerging blockchain system systems are moving in the direction of even greater centralization, which will inevitably lead to massive disappointment in blockchain technology, since it is not required for centralized solutions. The user has to choose whether to believe in a beautiful and fast web interface or use a secure and decentralized software that requires loading and processing of blockchain.

As long as it will not affect the world of cryptocurrency in a negative way then it will be fine for me. Facebook is obviously one of the most influential social media in our generation today, so it will not be impossible for them to launch their own crypto or coins. Hence, I bet this will be one of the awaited project. I don't know if it is good or bad for crypto enthusiasts, but I suggest not to set barrier between those two (crypto in general and facebook itself). Cryptocurrency is supposed to be good to people, whereas facebook must not draw barrier into it's main concept.

 I think facebook planned action of owning their own cryptocurrency has been long overdue. With the estimated market cap of $533 billion, Facebook need not worry much about large coin offering budget. If they wait too much time to join the blockchain technology they will be left out in the new financial paradigm of the global economy.

I read this thread before reading the link in the OP and the above post
Pretty much states what i think about this news. The facebook coin or
token will most certainly not be decentralised it will be controlled by
facebook so straight away im not interested.

I recon it will be embraced to a degree by the facebook community
but only by those who dont know about or are skeptical of bitcoin
and friends.

His moves were readable, eliminating first his competitors on his own social network.

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And after eliminating and declaring his opinion about crypto, he hires someone for the blockchain development.

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Now, that he's alone and free, facebook coin will come.

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I saw this coming after he posted on his own facebook account that he'll take a look at crypto's and now we are here.

This rumor has been going on for so long now that i dont see how it changes anything in the current scenario. Crypto does not need such big names attached for support anymore and if it does launch its own currency, that is a choice and reckoning that time will tell.

this is good news in my opinion because if facebook plans to launch ico so facebook also support cryptocurrency, which will be very influential and will cause trust in other side who still opposed and not yet believe in cryptocurrency,

like telegram facebook has make a move for making their own cryptocurrency, maybe later twitter and youtube will follow telegram and facebook, i think its a good news.

It's nice to have facebook associated with cryptocurrency, there are almost 1billion facebook users in the world, imagine that crowd involve with crypto, facebook also plans to use blockchain technology in their platform, that would be the sick combination, facebook in blockchain technology with a cryptocurrency will going to take over the crypto universe.

yes, the question of its coin will positively affect the entire currency of Crypto, I think it will be a big step!

It's just ridiculous, Facebook greed has no boundaries. Like the story of ICO Telegram now many corporations inspire the conduct of its ICO.

If social media platform like Facebook will have a blockchain and own coin/token that would benefit and provide profits to its users via posting or advetising then many small time business and marketers will profit from it and it would give innovation to social media as we know it.

I agree.

These odious behemoths, like FB and Google have effectively barred themselves from taking advantage of blockchain technology with their bans on crypto advertising.

There will be challenges under antitrust legislation if they decide to change their minds and have a dabble.

If it is true and it does happen I believe it will be to the good of the cryptospace as it will lead to a wider adoption of the technology. Just imagine all the Facebook users now using blockchain based cryptocurrency to perform transactions within facebook platform. It will be gain for crypto.

If this become reality, i think that i wanna be part of it's ICO because we all know how popular facebook is. Also i think this would help cryptocurrency become more popular. This will be a advantage. Hopefully this will become true.

I think this is good news for the cryptocurrency market. This will make more people pay attention to cryptocurrency further.

I think this is very happy news, I think positive to hear this news, I consider this news as Facebook support on crypto, I wonder what cryptocurrency will be launched by facebook, if this news is true, I think many will support facebook.

Facebook's scandal was changing anything in the Facebook structure. This is still in a consideration and remembers if that was still an experiment. It looks like the blockchain can help facebook but it needs a lot of time to do.
I see that in some paragraphs if that was included in the future development to avoid facebook's scandal to happen again.

Not going to buy Zuckerberg's coin because of the whole incident of 'user date' last month.

Great. More adoption for crypto. I wouldn't mind if FB launches its own currency, they have plenty of reasons to. I think it's inevitable that big existing companies will at some point start with implementing blockchain in their platforms. If IBM does it, or Amazon (at some point), why shouldn't FB do it?

this will be a good sign for crypto community. the decission facebook to create their own crypto means they are already accept and support this industry. but this news is very contradictory to FUD that spread several months ago about facebook want to ban crypto and ICO ads. maybe facebook is focusing to develop the blockchain technology, not create their own crypto coin.

Facebook has the most number of users on all social media, maybe user in the entire internet. This will be huge and I see that this is will bring more investors in cryptocurrency.

But this seems to me a sheer fake, because until recently Facebook threatened to ban advertising in general, but many bounties continue to campaign in this social network ..

If the news that Facebook will create its cryptocurrency will be confirmed by company sources, I think it will be good news for the entire cryptocurrency sector. But I'm very skeptical also because Facebook was one of the social networks that recently banned the advertising of ICO, I still hope that he has changed his mind…

facebookcoin will definitely be a visionary coin in blockchain and cryptocurrencies arena with strong message to outer world how the cryptocurrencies will change the world all together

I hope that the news that facebook wants to create its own cryptocurrency is true, even if the latest decisions of this social network do not go in this direction. I do not think it was a positive attitude to prohibit ICO advertising recently, but everyone can change their mind, so I'm waiting for official announcements

Blocking crypto ads and launching own crypto? Sounds like willing to be the monopolist   ;)