Bitcoin Forum

https://www.nytimes.com/2019/02/28/technology/cryptocurrency-facebook-telegram.html

for many years there are rumors, Facebook wants to be able to better monetize its billions of users..


already today he makes a lot of money, how much money could he make if he creates his own stablecoin?
Will it be able to do damage our world? or he will reinforce it

what do you think?

in my humble opinion, now the game gets hard

Nevertheless their coin will benefit from a lot of eyeballs, but it is going to be a stable coin and probably kind of centralized so not really worrying about a bitcoin competitor. Still kind of nice to see big companies starting to get into cryptocurrencies. Means that sooner or later we will see a lot of funds pumping bitcoin to the pleiades.

If this coin will become a stable there's no reason for investors to buy it and people to use it because this will just cost transaction fee from fiat conversion and another transaction fee from crypto to service. you're right no need to worry about bitcoin if ever it touches the market ground.

Zuck became a modern world conqueror/emperor, not some random CEO.

Granted, Cambridge Analytica quickly stopped his presidential ambitions, believe me he won't stop there.

With 2 billion citizens, Facebook's national currency could sure give some headheaches to the US federal reserve.

Look at the big picture, these people have the resources and power to think 100 years ahead.

Hopefully this project will shit itself, just like facebook's attempt to take on google, aka "OpenGraph"...

It's going to be a stable coin for sure but there will be some reason for investors to invest in it. I'm sure it would have some features that Bitcoin do not which will surely drive those investors to them. I don't see a threat in here. In fact, it's another good news for Bitcoin to get known. It's ironic how they banned cryptocurrency in the past but now they are making one.

It is given and i know time will come that FB will have their own cryptocurrency.
I just hope that they will share this to public people and will not do any private sales.
Everyone in the community of cryptocurrency wants to participate as they know the power and influence of Facebook to people.

Yes, that is really great news to the crypto community. Not to be taken as negative news towards bitcoin. With this fb adoption with crypto, more ordinary users will learn on how to use crypto in their daily lives. Who knows, they will learn how to transact bitcoin because of this fb coin? So nobody knows yet what it will bring to the table. But I'm very optimistic with this move.

It's pretty simple. Don't like it? Don't use it. It's not like were actually forced to use it. On the bright side, if it's indeed a stablecoin, then this would be another big competition for existing stablecoins, potentially forcing them to work significantly harder this time. As with competition with bitcoin though, I don't see this having a significant effect negatively.

The stability of their coin will be constant 'cause it's a big company, it will have a lot more investors than a normal ICO project. They can also bring the cryptocurrency up again and the odds to their favor. I also hope to be a participant on that project but in the telegram, it was a private ICO. Private ICO is just exclusive to their real investors, maybe rich people. I'm looking forward to this coin 'cause it might replace the kings of altcoin, let's see.

What makes you say that it's going to be a stable coin for sure ??? Just because it's affiliated with Facebook, it doesn't mean that its success is guaranteed. Sure, more investors may be interested in it due to the popularity of facebook but this does not mean that the coin itself will be stable. I have to agree with the irony, its funny that facebook was so against with crypto before, and then they decide to create a coin now. People can change sides so easily when it benefits them.

First, they created digital wallet and able to transfer money from one person to another, and suddenly I was thinking the possibility for facebook to create their own crypto since popularity isnt as hard as those ICOs today.
I myself dont have any idea how would this affect the market and how will the price of this coin would behave.

Seems like Zuckerberg are chasing all the money in the world lol.

Gradually cryptocurrency is paving its way to the mass adoption. Facebook coin will reinforce the crypto market because it will definitely be paired with coins like Bitcoin, Ethereum and other large cap coins on the exchanges unless Facebook decides not to list their coin. This will bring additional value to the cryptocurrency market because Facebook has millions of user-base.

In my own opinion, the released (if already released) of their crypto is untimely, these days are very difficult for the newly created crypto to compete against those already stable cryptos, ICOs are not profitable anymore and the price is dumping and we see that it is way too long to recover, but crypto is strong and i think it is still profitable in the long run.

But come to think of it, they wouldn't need an ico as it's already an established platform and not to mention that Zuckerberg is already rich. So the next thing we know is they'll launch their coin but the question is what will be its real case usage.

Facebook had reach its mainstream and seemingly Mark Zuckerberg will use it to its full extent.

If facebook create their own coin, what would be the function of that?
So many altcoins today, and I think its hard to create a new coin that can compete especially with the top coins. There's no guarantee for a facebook coin to pump in long term, but for sure because of the hype it will go higher on its first month but I don't see any future because bitcoin will still be more reliable.

..there are billions of user which facebook have..if this will going to happen,,then stable coin will arise,,as many would appreciate and enjoy the use facebook's own crypto..but there is a posibility that newer problems were also arise because few people uses facebook to scam and to earn money in a suspicious ways..nowadays we all know that crypto is popular on facebook..so there is a posibility that this will going to happen,,that facebook will going to have its own coin and in my opinion, i think this will going to benefit a lot of people.

They already have their means of transactions? Here, we have Gcash, coins PH, and Paymaya to use in our online transaction using Facebook and Messenger and it is quite effective I guess?

Facebook have created their own cryptocurrency and I am glad will have many investor participated at facebook crypto, how ever Facebook have billion people around the world and many people will invest their money on facebook coin.

I think a Facebook coin is a very smart and potentially profitable thing for the platform to have, given its massive user base that is spread internationally. This may help Facebook eat into the remittance market and also become a payment gateway. If this coin is widely adopted by the users of the platform, it could easily become one of the biggest coins in the market.

I also read the news. If this can be realized then the Digitial currency can develop further. As we know, currently the number of Facebook users is very large so that when Facebook creates a digital currency, it will make more people know the digital currency much better.

With bog competitor come to crypto world, make bitcoin and altcoin must do harder again to make they not fall behind, and I hope it make bitcoin pump up because this challenge.

if that's true, and managed to make a stable coin yourself, of course, Facebook companies will have a lot of wealth, even before this plan is realized, the fact is that Facebook has made a lot of money. looks like this will be this fierce competition in the crypto world.

This is good for crypto as many people and businesses get to know what cryptocurrency is even if it becomes centralized, still it is a good marketing for crypto in general. If it gets famous, crypto users can then say "Do you know Facebook Coin?, Coin XYZ is just the same only that it is more controlled by the public rather than one single company." So it is good for crypto in general whenever a big company adopts cryptocurrency.

Remember the coin that will be created by FB will be used in all of the platforms that a part of facebook companies itself. The adoption needs the time and you can't feel skeptic about that. I just try to remind you about that. FB has a lot of way to create mass adoption.

I think Signal might be the one too root for, due to it's anonymity, but Facebook will have the upper hand, with it's endless ressources. Nevertheless this will be very good for Crypto and can create another big Hype for the whole space.

We already got this rumour long time ago, for me its good for crypto currency because it can increase the popularity and Facebook community is quite huge, so maybe this coin could be successful in the future, if the Facebook really implemented the coin into the site then we can see a good thing happen for this coin