Bitcoin Forum

As per recent article on Bloomberg , facebook is developing a cryptocurrency that will allow users to transfer money through their whatsapp messaging app and they are first focusing on market in India. They are developing a stable coin-a type of digital currency pegged to the U.S. dollar as bitcoin have high volatile nature.

This is a good thing that big names are moving into crypto world now.

For detailed study go though this article (https://www.bloomberg.com/news/articles/2018-12-21/facebook-is-said-to-develop-stablecoin-for-whatsapp-transfers?srnd=cryptocurrencies)

It is too early to say that this news is correct or not , but things change with time. Even Warren Buffer told earlier that bitcoin is not a good thing and recently he told that " after some research and study he consider it a good technlolgy". So things change with time.

Targetting India first!!! Well India have very unclear regulations on cryptocurrency and Indian government don't recognise Bitcoin and cryptocurrency as legal tender. This is good news but they will have big task to take approval from the Indian government.

Yes correct, as mentioned in article, it will take time so i guess till then regulations will be there in India for cryptocurrency.

I'm wondering why fb will launch such project in India first?
And yes, considering their crypto regulations, this is not a suitable place to implement this project.
Might look into other countries with friendly approach in terms of crypto acceptance.
That would be much faster and easier process and also, to see the results faster.

I am sure that this can be an exciting development and this can be what a real token cryptocurrency can be because we can then be using the coins to buy any services offered by Facebook or can also be used by Facebook users for eCommerce purposes within the social media site. With its reach influence and prowess, I am sure that Facebook can make this new project a big success -- the real mainstream adoption of cryptocurrency can be coming because of Facebook. The next question is: Will this eventually rival and take the space enjoyed by Bitcoin for years?

An interesting move on their part, especially in this period. Heh, they blocked all references to ICO when the market was on the tops, and now, when the market is on the bottoms, they launch their own cryptocurrency. Heh, interesting.

Guys don't be surprised with this.

Earlier this year, there's too many news about Facebook hiring some blockchain experts and needed a position like that for their another start up.  I wish that they will just focus not with their crypto but with the development because we already have too many crypto's.

cryptocurrency?!!!
whatsapp belongs to facebook, the token is going to be used inside whatsapp only and it is created by facebook. so why call it a "cryptocurrency" where it is just an IOU token that funds your application inside their centralized database. not to mention that when we are talking about centralized tokens usage of blockchain technology is very inefficient.

This is a very good news for the encryption market, because Facebook has a lot of users and supporters, which will bring a lot of attention to crypto.

this is good news, I read it earlier, that Facebook is developing a blockchain that will be applied to whatsapp which aims to make it easier for users to make transactions through the Whatsapp application. I also saw crypto ads on the Facebook page, which means that Facebook has received crypto again? Hopefully this is a good start.

Of course everyone's hopes, the impact of positive news will bring an increase in crypto prices on the exchange, hopefully this can be the trigger after months of crypto prices experiencing a severe decline.

Definitely, this is a very happy news for crypto users and I am sure this digital currency revolution will keep going. Facebook is hub of connecting people's and this will make a huge impact on other altcoins.

Facebook has billions of user's so this will help in crypto world to become more popular if this news is legit, but I wonder why crypto ads is still banned in facebook ? Anyways let's see what will happen if this is true or not.

If this article is true then it's a good news for crypto for we all know that facebook is one of the giants in social media and this would certainly help people to know more about cryptocurrency though it's too early to tell whether the article is true or not but still it will have some impact to crypto market if proven right.

It is totally understandable to launch such a service in India first. Let's wait and see what the end product will be (they will have to cope with lots of technical obstacles).

of course, this is an excellent thought. Pierce facebook is the right target for more fluffy and more crypto makes close to real life. the future will be more and more other surprises, then prepare there now.

Of course, this will be good news. We can see that this technology makes it easy for everyone to make transactions. So that in the future not only Facebook will try to develop Crypto, but like Twitter or Google who will participate.

this is considerable progress, crypto has been able to lead influential people in the world. but with the founders and great figures in this world we must look forward to what changes they will make.

Crypto's back again a new surprise. of course, this will be the form and new energy and a new spirit for optimistic crypto will evolve to support activity in the world.

I don't think this is true, I have not read the article that you shared but as far as I know Facebook is forbidding all types of crypto on Facebook but for some reason, Facebook will now join the cryptocurrency like funny, but I will find out the truth

I think the concept that allows users to transfer money through their WhatsApp may take a long time. but if large companies like Facebook really develop cryptocurrency, I can't imagine the impact will be very large, not only will it have an impact on the crypto market exchange, but in the development of blockchain technology used in real life.

Stablecoins aren't cryptocurrrency.
For a coin to qualify as cryptocurrrency it must be:
 *Decentralized
* Trustless
 *Censorship resistant
* Deflationary
* Permissionless
*  p2p
Otherwise Just call it a Stablecoin.

 There are great Stablecoins though: DAI, Havven etc. I think DIA is a lot more like Crypto than a Stablecoin. except it is stable.

For the most part, Facebook has grown into cryptocurrency development because many people use it and they can easily see it through bounty hunters working on Facebook bitcoin campaigns. so it's important to increase the percentage of Facebook campaigns in the bounty projects.

I think this will be the trend in the future, but the difference is on the point: they will build their blockchain is decentralize or centralize. Almost big corporations all want to control their system by themself

I saw this news yesterday and even tho I think it will not have a real effect on Cryptocurrency I still think that the publicity is a good thing we just need to not over cheering this and take it as it is because what Facebook will have is not a real Cryptocurrency as we know it.

If I ask Facebook to help with cryptocurrency because of the large number of Facebook users and supporters it's easy to spread especially when promoting cryptocurrency projects or bounty projects is easy to learn from the people because of social media.

I just knew it could happen that Facebook could one day create their own cryptocurrency, blockchain is a technology that will never die and facebook just wants to make sure that they are keeping up with the latest technology, being an internet giant, but we still have to see it launch before we can judge how good they handle the project.

Actually no. What they do is not really a crypto currency as we know it, it's more like in-company centralized digital FBDollar. They don't really move into crypto world.
They have just find out that with little effort they can do some more "tax optimization". And why not, if the idea is catching up, maybe they even earn money from this "coin".

if large companies that make coins will definitely advance quickly because they already have a lot of trust from various parties, if indeed that is true then it will be very good for all those who love the crypto world, hopefully this can be quickly realized.

I am very sure that if Facebook creates and creates its own currency, the project will be successful, they just have to campaign on their platform. with very many users it won't be difficult

This really is a good news for cryptocurrency and facebook did the right choice embracing cryptocurrency. They will be a great way to let millions of potential investors about cryptocurrency by advertising their own altcoin to their users. It is not impossible that we can see a greener market and huge recovery next year because of this type of news. It would be better if facebook itself will make an official announcement on their side.

Like many other companies, Facebook is exploring ways to use blockchain technology. This new small team will explore many different applications to provide new and secure services to users. But first of all we are talking about making money.

Tokenomics are going to rule the world, like it or not. That's a smart move on Facebook's side.

They are planning to create a coin to be able to pay in WhatsApp. I think it will make crypto market more interesting. I am looking forward to more information from them

Correct, im not seeing that they are really serious on adopting or going into crypto but rather creating their own coin for the sake of add-up benefits on making more money.
Crypto wont really be in the sense that it would be a centralized ones.This would really just act like a e-currency not would really be different from fiat.Its just a transition but not actually embracing the tech.

Good news to fill out the end of 2018. Facebook is one of the most widely used social media in the world, and this is a very good development for cryptocurrency fans. I think this will start running in mid-2019, and users will begin to know it. Well, I'm quite happy to read this news. Thank you for the news that you shared here. Surely this is really useful.

I think that when such giants of it sphere as Facebook join the crypto sphere, it is very cool. The more large companies will be interested in the world of crypto and develop their own solutions, the greater the spread of new technologies among ordinary people and it will have a positive effect on the popularity and accelerate the introduction into everyday life. People will finally understand that it is convenient, safe and this is the future.

what Facebook did it will be just a stable coin that will be used inside the Facebook platform. And nothing else

It still depends on how the market performs but definitely great news and a good development, especially if Facebook decides to push through even though the market is not performing well, we will definitely have a lot of update because we all know how good Facebook is in marketing all their stuff.

It would be no different from website based virtual tokens if they don't make it available to be freely traded on exchanges.
Big companies are always scared of getting in the middle of AML investigations and hence would play safe.

but their token will not bring benefit to the cryptocurrency community or the market. This is only a stable coin. these coins do not benefit real crypto enthusiasts

well, I don't know what the impact is on cryptocurrency, but it looks like it will be good. Facebook is a very well-known social media platform, with Facebook starting to enter the crypto industry that will likely have a positive impact on crypto, but who knows

oh really? facebook developing cryptocurrency that's nice, I hope that their crypto can be tradable in any exchanges.

Why make it cryptocurrency when you can just integrate with other services that offer that type of service, i dont know why facebook making it complicated, i guess mark zuckerberg really loves money, no need to milk the fuck out of cryptocurrency.

I hope they are not trying to generate some money for their  own interest alone, because I do not see any reason why they should lunch a coins whose value is pegged. Well, I am not against any project from them, which is a good development, but we need to be sure of their motives behind it, as well as the usefulness of the coin.

Yes also heard about this rumor,but until real evidence is not seen,it is certainly possible to say much,but I think we will see in fact already what happens,so they say that Amazon is also their coin releases,and not clear whether 100% or not,but looking at the trend I think that all giants will not miss the opportunity to pour into the market of new

This might be a interesting concept if this is true as there are millions of Facebook users in the world, so there will be a group of followers for sure there is no doubt in it as a big multi millionaire is interested in block chain people will be willing to buy coins.

Yes its confirmed by various sources but we can still wait for the announcement of facebook itself.

I'm not against of 'facebook coin' to be traded on different exchange but I hope they are creating that for its sole purpose of their service.

Yes, they doing it, but probably their token will be some kind of stable coin, so any profits there

A stablecoin from facebook is a big thing. So more and more people will come in contact with crypto and that is certainly good. It will certainly help that crypto becomes mainstream.

I do not know what conceived Facebook. But I do not think that such a financial giant will do something without counting a few steps forward. So this is a good sign for the crypto market.

I don't know why people are asking if this is good or not, we are all into crypto and seen things like this from a big company in the space is  a good plus and added another legitimacy to Crypto that crypto has come to stay. If it is a stablecoin them the question I am asking now is how will it be exchanged

This must be true information. I believe that many companies are developing their own cryptocurrencies, but they are not listed, they may be listed in the future, and may never be listed. This requires government approval.

If Facebook is going to release its crypto currency, it is going to be the most used crypto within several days. It will boost the industry and lead us to the faster mass adoption. Let us hope that they will release it!

a new breakthrough for facebook and this is certainly a good thing. Facebook shows that they support crypto and crypto by issuing itself a pretty good thing from facebook. certainly, with the building have big names could make facebook course with easy to make successful crypto they have.

It will be a totally centralized currency. Majority of the characteristics of cryptocurrency will not be included. So, I would call it only a payment system. For your info, there is a big difference in payment system and a currency. There are a lot of payment system now like paypal, pm and so. The only different is facebook's payment system will be based on blockchain but whatever, it's not a currency.

I am not sure if the coins can stable in the crypto market. We see for many examples at the market, many coins cannot stable, and all of the coin price was always adjusted with the bitcoin price. Besides that, Facebook needs to promote their coins to their member at the site, so many people will know about the coin, and they can help to share the coins to other people. Moreover, I think it's difficult to compete with the other coin which has a position in the coinmarketcap list except Facebook can get a mass investor for their project.

Let's get back to the roots of crypto - blockchain based database for digital money. The only one project that is like an exception - XRP. I think Facebook could have the same system or even to take XRP for their needs. The purpose of this coin will be payments inside FB only. To pay for the commercial, to send coins between users.

so facebook is thinking of developing a stable coin to use through whatsapp seems to me a strange turnaround after all the crypto related advertisements were banned from facebook

I wouldn't jump on the ship that they are doing it, there have been many, many articles about large companies doing a cryptocurrency and so far they have not come to fruition.

Let's see what happens and until Mark comes out and states it, don't get too excited.

This may not be true. Why because so obazarom Fasebok can raise the value of the company's shares. All applications must be filtered. As soon as they announce the start of development, I am sure you will see specialists who will create these coins.

More recently, the network means information that will lead squirrels change all the spread of information about cryptocurrency. Trends are changing very quickly and I cannot understand where the truth is, And where lies.

As for me it's not a surprise. Sooner or later almost every single company will try to use private blockchain technologies due to thier's advantages. But as a real crypto enthusiast I still believe that there won't be anything really useful and more valuable than BTC.

This is an information war. Let's say Facebook says. We are entering new markets. The small factory receives new profits, but in fact does nothing. Cryptocurrency 10 years. Where is the first social network in the world? Has she studied technology? Truth and lies a difficult question. I do not believe them. The started twitter says everything is okay. A pat ban our accounts for the ICO tag.

Didn't even bother going through the whole article. Facebook, the company that started to ban advertisements related to crypto currency and ICOs, reverses the ban and now wants to build its own crypto currency  ::) ? I doubt its going to be decentralized at all. And why would we need to use whatsapp to do transactions? Too much work to build a different platform? Not sure what you posted is actually authentic or not.

This news is not the first year there and during this time nothing specific has been said in the news or from the leaders of the social network, so I do not attach importance to all this

don't think that Facebook will create a real cryptocurrency. it will be some kind of highly centralized coin for internal use.

Nahh I agree with what people say above me, they block crypto related ads and then create a cryptocurrency themselves?

That would be extremely typical and exceptionally hypocritical.

Facebook creating its own token is a possibility. May now they are starting already with the project. I'm also positive that a lot of big companies, creating their own cryptocurrency is one of the list of future projects. These big companies are always one step ahead of the public.

I do not really understand why people are so excited about this, even if Facebook is getting in the market of cryptocurrencies they are creating a cryptocurrency that will be completely centralized and that is not going to be that much different from fiat, so while that may bring some attention to the market and could bring new investors it is not such a huge news if you ask me.

Its a great news to see vig companies to start interested in crypto, but one of the things that I don't like is they created another alt coin, why don't they just used bitcoin or eth, one of the strong coin that already existed, I don't think they have the intention to make the crypto grow, they just want to make more profit

So they are doing it next year? or they are just planning to join the bandwagon in case the market finally hit a bull run, they cannot ignore blockchain and cryptocurrency anymore, this is the most talked about topic for so many years now and 2019 is no different and they do not want to be left behind.

any company wants to increase their revenue and Facebook is not an exception. but it is strange to see that they want to get in cryptocurrencies and basically start becoming a "payment processor" because that is what they would do, they create a useless centralized token then sell it to gullible users of their platform and then process their transactions and take fees from doing so!

in my opinion this design is always doomed to fail no matter what company no matter how big is behind it because people will either stick to the known ways of centralized payments through banks and others or they want decentralization of cryptocurrencies such as bitcoin.

Facebook developing a Cryptocurrrency or digital fiat currency? Most Stablecoins do not qualify as a cryptocurrrency. They can be seized, Censorsed, go through KYC. I guess the Stablecoin will be on a Blockchain platform but without the features of  cryptocurrrency.

In my opinion, it is only a matter of time when large companies will start developing their own crypto / blockchain projects. And around these projects will be a lot of HYIP. Now everyone is waiting for Grams from Durov. We'll see.

Facebook participating in this market will probably be quite a positive news.
It will be the driving force to push other tech giants into this fledgling market.

Although Facebook data was stolen still Facebook is considered a giant,they are going in crypto space in other to show it's user that their data is now decentralized and secured so they can attracted it's user + crypto space towards it.As they have big fund so they can easily attract users and become a giant in crypto world.the reason they will able to do it because of people who waste their time uploading selfie and pic and commenting on others,so there might be a chance that they can become big as they used to be.

They say what it was stable coin, i think they want hype on the crypto name, because stable can be reallized without blockchain

Note that they are making a cryptocurrency because it would help them to manage their data. I mean they just really need the blockchain.

This is something obvious that the facebook will have their currency and coin soon, it is for sure! And i believe that this would be very good for the market. There are billions of people using facebook everyday, every minute and with the facebook coin we will welcome to a millions of new people in this market. Many more people will have the chance to understand the cryptocurrency because of the facebook.. So i am keep waiting in 2 years to facebook starts its own crypto coin.

If they are going to push this, this year then they should start educating the majority of their users about blockchain and cryptocurrency, because as we all know people use Facebook primarily as social networking and communication, I wonder what kind of promotion are they going to do if they will launch their own coin.

I am confused about this, Facebook has released a ban on cryptocurrency advertising, but why should they develop cryptocurrencies? I don't think Facebook needs to rely on cryptocurrencies to make money.

The above news information about Facebook developing a new cryptocurrency for payment is a welcome development to the entire cryptocurrency space,it will help boost the adoption of cryptpcurrency in the global business ecosystem.

Still I'm not able to understand if it's a good or a badly thing for our ecosystem. On a hand, many other people will be involved in the crypto world, on the other side I don't know if it is going to make a damage. We'll see, I hope there will be some opportunity for invest.

Why shouldn't they? There are a lot of use cases for them were they can use blockchain to solve a lot of issues. Nevertheless, most likely they just experimenting and there is no guarantee that the project will go out into the world.

I'm agree with you that the main problem of crypto now is low interest from people, so all efforts should be directed to spreading information about technologies behind crypto

A good thing for Facebook, there are many Facebook users and this will become a crypto way to be widely known by the community.
One social media is able to promote well and later impact on the crypto world.

I think this is good news, and for the crypto community, and for other people, I think it will be easier and more convenient for them.

I don’t know for revenge on Facebook for a long time, it’s worth starting to create your own coin. Integrate it into your business and make huge profits. And destroy a lot of social networks on ICO.

Finally a big player who will use crypto.
Facebook is thus surely increase the acceptance of crypto worldwide.
For me, this is one of the best news of the year 2018.

This is indeed good news for the entire crypto community, not only are we heading towards mass adoption, with this recent development, we would see more and more usecases for crypto.

Facebook, the GREAT Facebook, is getting destroyed and is on its last legs (just the same as the other 4 big tech giants - excluding Microsoft).

I wouldn't touch the Facebook stable coin, based on principle alone.

From Blanket Ban to Its Own Stablecoin now how they are changing their interest here in crypto. whatever happens, I am gonna stay from it.

Facebook is a big company, and, on the one hand, thanks to its capabilities, it can give cryptocurrency a new development, and on the other hand, they are experiencing something new for expansion. In the future, there may be good ways to invest.

Their coin will be centralized, what ever project they make it will be run by them it will be controlled by them, and we all know how informations and where informations from facebook are going. They talk about cryptocurrencies and facebook for years, but still they didn`t do anything about it, I believe they wait green light from US government, or FBI, or who knows who to do something. I don`t plan to buy or earn their coin or token, or have anything with centralized facebook, I`m for decentralization, I hope that people will make difference between this two and do the right thing.

Facebook is creating just a stable coin for using it within the platform. This is the same ordinary electronic money.

It would be great. It seems to me that all major social networks should store data using blockchain technologies for a long time.

Well you are right but According to me it is not possible because Facebook is a well known social media site which has been using for years by people and this kind of New comes every year. I have seen allot of sites on Facebook promoting bitcoin because they use it and Facebook has thousands of site who are being use for bitcoin promotion activities. So fire this is not good nor possible.

If this is an accurate news, it is good news for the electronic money market. However, I think this is not feasible because both Facebook and India do not like electronic money.

I think that Facebook wants to create its own cryptocurrency in order to increase the popularity of these social networks and for its benefit, we do not know what else.

So, what's it good for? Another stable coin... How this gonna change the world or how will we benefit from this? :)
I would be more happy if Facebook will begin accepting Bitcoin or Ethereum - that would case a huge pump and investors would win in this case.

If Facebook will be integrating WhatsApp into the system, that will be a good connection, because there are so many users on these two platforms, both Facebook and WhatsApp. The two have already built reputation and are popular, so I envisage a successful project already from their end. Investors will be excited are ready to invest in the cryptocurrency,  even before it lunches on exchange.

It is accurate news, it's pretty much public at this point.
This will be great for remittances and I welcome the idea.
Hopefully people won't forget that centralization kills most of the benefits of cryptos, though.

I agree that most likely they just want to earn more money, and since cryptocurrencies are still quite relevant, you can use this chance. I think that it will still have a positive impact on the entire cryptocurrency market, because if Facebook releases its coin, it will confirm the fact that cryptocurrencies are a promising industry in which it is worth investing.

Instead of developing a stable coin, they could've developed a tradable coin. It would be better for us.

This is a very good a d bullish news and not just for blockchain but also Cryptocurrencies, this would help lead crypto to mass adoption of crypto, the future looks bright.

I have been hearing this news for. Awhile now but to be honest, I do not fully believe in it because Facebook was one of the entities that were fighting against crypto earlier this year

maybe they can now make whatsapp a bit privater and safer .
iam using currently telegram becourse whatsapp fucks off your privacy.


regards

Stable coins are good if market is falling and there is an option how to protect your funds in high volatile cryptocurrencies.
But as soon as bull market comes, people will start selling these stable coins and they will again buy true cryptocurrencies.

Not only facebook,but also whats up, telegram are making own crypto. But the biggest chances for mass adoption telegram has.
You know, crypto has the biggest concentration in telegram

Well anything that takes crypto towards mainstream adoption is always good especially with a company as big as facebook. It'll be good in general even if there's no assurance about it yet.

Facebook is one of the social media that is powerful because many use and support it. if promoting it will be easier because Facebook is widespread in the world. so many bounty hunters join the Facebook campaign to help with the bounty project.

Facebook is one of the largest social networking sites in the world, and its user base is huge. If it's really developing its own crypto, then this will bring a turn for the crypto market.

They know how to spoil everything, the more closely cooperate with the US government. It's not even a cryptocurrency is difficult to call, a wallet under the guise of cryptocurrency, nothing more

This once again proves that cryptocurrencies have great potential for using them in various fields. I am very glad that Facebook made this decision.

I am not that glad, people are enthusiastic because a big name is trying to create a cryptocurrency but I am sure that it will not be that different from fiat and if that is the case why do we need such a coin in the market? They are only going to create even more confusion among investors about what it is a cryptocurrency and why do we need them in the first place.

Pretty sure that this coin is not meant to be used as a tool for investment or such instead it will be used as a currency within whatsapp ecosystem and that is why the value will be pegged to fiat. Maybe the coin will be used to pay for sticker or anything else no need to worry.

Sylo which is a decentralized communication application will allow users to make transfers in messaging apps. They have been working on this for a year now, seems like Facebook stole their idea.

I'm glad to see Facebook and a host of other top organisations getting interest in Bitcoin, Blockchain and cryptos. It brings so much joy to my face. Facebook had always had a thing for Crypto but Can't just take the bold move because of the regulatory processes and requirements around it. Seems they're finally going all in. I just hope other Companies follows suit.

It's just a rumour and you should check it through use various press. It's clear if there was someone spreading this rumour around the crypto holders. facebook has been using various payment system but they are not having any interest to create their own crypto.

This has been discussed so many time but we are yet to see or hear any comment about the development from facebook.which ever way it will really be a good thing to see adoption of blockchain by the facebook and hopefully other social media will emulate facebook and also work in adopting cryptocurrency and the blockchain technology

This is just an ordinary rumor that was launched on the wave of strong growth of the crypto currency, at that time they came up with a lot of news, in such a market no one will do anything

Facebook and all the other major corps and govs are working on their own cryptocurrencies behind the scenes, furiously.  Not only that, they are colluding behind the scenes in secret at the government and mega-corp level.

Facebook was started by, funded, and continues to be protected by government entities (FBI, CIA, NSA, etc.)   The headline just as easily could have read "US Government creates cryptocurrency and looks to test in India markets".

Couple all that with the fact the Indian government just banned large denomination bills (cash) last year, has a government beholden to Western interests, and you have the perfect test bed for the Western Intelligence services to try out version 1.0 on a desperately poor country that is largely isolated by Western media outlets.  No matter how the experiment goes, you will not hear about it in the Western media.

And one thing you can be 100% sure of.  When the govs and corps start announcing their 'approved for use' cryptocurrencies, the code will be weaponized and anti-human in nature, full of back doors, and invisibly controlled from a centralized location.

Please, everyone.  Spread the word about crypto.

Cryptocurrency is a fuel for decentralized blockchains, how could it be a cryptocurrency if it is created by centralized entity - Facebook?