Bitcoin Forum

Facebook is finalising plans to launch its own crypto-currency next year.

It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020

https://www.bbc.com/news/business-48383460

Sounds old, but this might be true this time.

We can see a strong trend about using different social media or messenger accounts also as your electronic wallet. Every shitty app now is either going to implement p2p payments or already did it. For example in China millions of people are already using WeChat Pay every day. And Facebook is also following this trend. No matter if they make a stablecoin or just their money transfer thingie it would be a centralized thing in all cases.

bbc should report on every single person launching a "global coin" declaring himself a billionaire

This takes the global cryptocurrency user community forward. Facebook earlier stopped the ads related to cryptocurrency and later they began to show positive signs of interest towards blockchain and cryptocurrencies. China one among the global leader of cryptocurrency users in the past has now more popular with its increased number of usage of digital wallets for each and every commercial need without any intermediary. Now Facebook with its plans will surely serve as a common asset for all transactions within the social media.

NO, because they are too late to the game. Its going to flop. They should have adopted an existing coin, preferably the best: Bitcoin.

The amount of diverse "digital payment systems" is getting out of hand, and people aren't going to bother even with Facebook behind.

Facebook is not as strong as they think. I could cite Bitmain, by getting involved with an altcoin, was almost run into bankruptcy. And this is a company WITH crypto experience, unlike Facebook.

Of course it should be mentioned that this is probably getting whatsapp/instagram involved as well, as all three are owned by the same company. But that isn't going to cut it.

They call them "Global" but being Facebook its already tied to US laws, that immediately negates its name. Bitcoin IS global, this never will.

if facebook, whatsapp or any other "powerful" multinational company creates a cryptocurrency, you lose the sense of decentralization with which BTC was born and the fantastic world of critpovalutes. then you need to understand what kind of algorithm they want to adopt, whether it will be a coin PoW, PoS or other. I remain very skeptical for now

a good step for Facebook with big names and many users allows Facebook to become one of the globalcoin launchers who will be successful if supported by a solid team and it becomes a new launch for social media like Facebook

Even if it is, I don't see why we should care. Facebook does not care about the privacy of users, allows advertising that is biased when it comes to race and gender. The article you've shared also raises additional data gathering concerns related to this payment system. The article does not say whether the coin is going to be centralized, but I think it's natural to assume it will be. Firstly, it is mentioned that Facebook might be negotiating with merchants in exchange for lower fees. If they can lower the transaction fees, I think it already hints centralization. Secondly, I don't think Facebook would risk with volatility associated with actual cryptocurrencies. Well, we'll see what comes out of it all.

Adopting an existing coin, especially a leaderless and CEO-less coin, won't make them much money. As much as I don't want this, of course it makes complete sense that they're going to make their own. Facebook, Google, and some others are those companies that is trying to dominate and monopolize whatever they can on the internet.

Yeaa.. we're talking about Facebook and Mark Zuckerberg though, who is no doubt wealthy as fuck. No matter how controversial he and his company is, he's definitely just not the typical "person".

Not all cryptocurrencies are made to be decentralized, especially with stablecoins, which I think GlobalCoin is planning to be.

While very little information about the coin FB, which is going to run on Facebook. If this is another stable coin, then it will not have any significant effect on the cryptocurrency. Undoubtedly, it will be a grandiose project, if one billion dollars is planned to be invested in it. In any case, this will contribute to the overall implementation of cryptocurrency. Moreover, Facebook had previously been very unkind towards cryptocurrency advertising.

I have heard of this news and there are different names of coins coming out but still, nothing is confirmed yet.
I believe if facebook or any social media app would launch a currency, it will be most influential since it will be easy for them to endorse and promote such coins.

The global coin will be their own crypto wallet for Facebook advertising and other product and services facebook entry to the crypto field will be a game changer for crypto industry all together

There has been far to many articles about facebook and then launching a new coin but as it is there has not been any step into making it come to past.
I feel all this are rumours with not enough substance to back it up

It's quite fascinating to see that multi-billion dollar companies that once shamed bitcoin and cryptocurrencies in general are now adopting the tech and creating their own version of it. IMO, Facebook should just stick to their Facebook Credits thing and not push towards the creation of their own cryptocurrency. Apparently it's becoming a fad now and many people--instead of being educated--are getting more and more confused on what really are the goals of different cryptocurrencies.

They could have named the crypto with a better one even though we know these are only rumors at this time.

I actually see it as a positive thing but I still doubt it at some point. We all know that Facebook has banned crypto advertisements before so I don't think it's still interested in launching their own coin. If it's just going to be a mode of payment for advertisements, why don't they just use well-established coins like Bitcoin? I'm just wondering.

Actually, Facebook banned ICO advertisement and not cryptocurrency as a whole, as most ICOs at that time (and even now, although it's not nearly as popular) were defrauding investors and contributors.

It would help if they do adopt an existing cryptocurrency or create their own. As at now it's difficult to pay for advertisement using lower currencies and it's not as effective as when you use a dollar-account. So a cryptocurrency would balance the process.

This will definitely create more awareness for cryptocurreny and blockchain technology.
I am beginning to think of a situation where facebook users are paid, based on their activities. First, it will foster the growth of facebook, despite being the fastest growing social media platform all over the world. Also, the adoption of cryptocurrency will be enhanced and everyone will be more sensitized.

Sounds good and sounds crazy too. By Facebook, everyone could know cryptocurrency and learn it but the bad is everyone can dump the market if all of the people know crypto.  >:( >:( >:( >:(

I speculate that it might partner with an existing blockchain platform project where Facebook will issue their tokens. However, which one will it be? Ethereum appears that it might be the first choice because of its success in brand development.

True and they have already in contact with coinbase and gemini, whatever I have read. I think this will be good one because it will impact positively and more people will know about cryptocurrency.

This move by the owner of facebook might be a game-changer strategy that might bring cryptocurrency to be known to more and more people. We know that social media have huge impact in terms of dissiminating information. Facebook is very influencial these days.

I agree on they should have adopted an existing known coin like Bitcoin but let us not be certain as if we know what is going to happen in a year or two after they launch this globalcoin. They may not be as popular before but they still have a wider network compared to other existing projects.

Facebook is one of the example of a powerful company, if they could run their own coin by next year, then ill expect something better,and the price of course could be higher, but if they could run their own stablecoin, maybe its just the same with the others too.

About the price, its depend on total supply and how this coin integrate with facebook affiliate. If this coin can used in whatsapp and others messenger, i think this coin have big potential and profitable investment

If is truely happen that that new coin of facebook will launch, I think there is a new competitor or I can say that bitcoin has a huge and strong competitor. Because all we know that facebook don't need to advertise if they launched their own coin because they are already popular so people will surely adopt that coin.

Mark Zukemberg has a control to set all people through social media on this world. Facebook, WhatApps and Instagram are the giant social media who will promote Global Coin. Indeed, the people who has an interested they will easy to use it cause they have known who Mark Zukemberg is, so as he will forget the scam thing on their mind. Also, I got an information that the citizen of US having more trust on facebook instead cryptocurrency such as bitcoin, but I don't think the user of bitcoin will just give up cause we know bitcoin can be use as more than currency.

There was also an article in Coindesk that mentioned besides meeting Mark Zuckerburg that the Winklevoss also said that they already own a material amount of Ethereum.

In any case, when is the release date of Ethereum 2.0? Globalcoin might be issued there.

Well, I've been following this news about FACEBOOK a lot, and I really do not know if they want to do cryptocurrency or Facebook tokens, but taking into account that Mark Zuckenberg is not going to get something that does not have a good liquidity or support, I think his The price will be relatively high, and this is due to the number of sponsors that are on the social networking platform.

So if it has been slow to make its launch is because it has thought all the ways and have to avoid possible frauds with respect to bounty hunters, because I do not think there is a class of KYC, because the database they handle is very large .

In my opinion, I am very happy to hear this news because the crypto currency competition will be even tighter. Moreover, Facebook itself is a worldwide platform so that the coins that will be launched by Facebook already have a good future platform. I am sure that Facebook can realize this plan, the coin launched Facebook will become one of the potential coins and become the top row of coins on the market. I only hope that the coins issued by Facebook have the latest technology and can be felt by many people such as Facebook's own social media platform.

When viewed from the Facebook platform, it is already very good because there are many users, but at this time the predictions are not too high, because the more tight the coin competition, the harder it will be for new coins to be in a row of potential coins or stable coins. and don't doubt the Facebook company about their plans.

This project has ceased to be interesting to me. Facebook just want to increase their income. The coin will be stable which means that as an investor I will not be interested in holding it. And also I don’t like the list of countries that will not be able to use this coin Russia and China.

Interesting fact about the name - Global coin. In early 2015 there was a project with the same name which was a scam. Lets see what could happen this time.

Without a hype Facebook can easily attract investors regardless of the purpose of the project. This is also a signal of billion dollar companies soon follow to enter the crypto space.

Yeah, I heard about Facebook wanting to be more anonymous, too. But I did not know about the introduction of my own cryptocurrency. In this case, Facebook is great.

I am still waiting for the Facebook CEO message about this.
THough i been reading many news about this GLOBALCOIN which will manage my FACEBOOK.
Even on Airdrop alert, they are been many news about it. but still lets wait further more.

FacebookCoin probably won't be Bitcoin's competitor. There are rumors saying it'll be a stable coin just like Tether. Probably 1FBC=1USD. If that's the case It won't be more useful than your steam balance which are only useful to purchase steam games.

If they don't peg it to USD however, that might be the hype train we should be getting onto... to make more bitcoins.

Indeed we can see a new trend, and more companies try to create crypto or to use it, i will not use Facebook coin if is a stable coin, i not have what to do with and i not use Facebook.

It is going to be incredible and it might capture the market after it is launched. Actually the benefit Facebook has is that it has gotten so many users who might be interested in investing in the coin in its early ages when it is down. There would be great price rise in future which means that the investment you will make in these coins will be replicated upon the rise in the prices.

This will be one of the very big advantages the invention of Facebook coin will bring to the general market of cryptocurrency as I believe that Facebook has the largestsocial media user in the whole world.

By the timeFacebook starts this project and others like twitter, Google and the rest see how it becomes well accepted and used, they will surely have no choice than to join too which will be the beginning of great revolution in  crypto industry as regards adoption.

I just can’t wait till the time the project will be launched as I know that it will make bitcoin price shoot up because of the hype itwill get then and many people believing that its project will sure have impact on bitcoin even if I know it may not.

Yeah, in the past people are predicting that Facebook will launch a coin of their own, and they are asking for the possibility, and now it's really happening, I think they had a plan to launch one in the past, they are just waiting for the best time to create one, because they want to test if this kind of technology will be accepted globally, and now that they've seen it, they are on it now.

The only reason I'm looking forward to this crypto being rolled out is because it is going to draw more attention to the blockchain industry and our favorite projects (http://bit.ly/2K0GUby) will benefit from the extra exposure.

This information is of interest to the community. Currently, Unknown time to launch "Global Coin" from facebook. But the latest information shows that Zuckerberg and facebook are embracing blockchain as a solution for the future and seriously working with organizations and banks. Much similar information with Paypal. Trust that this is a new source of wind for the crypto community. And once again confirm that, blockchain is really the future of money and modern payment solutions.

I think not only Facebook but maybe there will be many big companies and others launching their own crypto currency, whether it is googlecoin or something else, but I am glad that there is a lot of good news in 2019 so that trust returns to investors, I've read the news  8)
 

Facebook global coin is not worth our time as it’ll be a centralised stable coin, and most importantly people will have to be KYC verified for this. In my personal opinion this coin won’t last long once people realise that it has no value, and has no characteristics of crypto’s. That’s a very short list you came up with there’ll be many more countries e.g. entire Asian region barring Japan will be on that list.

if Facebook is really serious about developing cryptocurrency itself, what is the use it for? imagine if Facebook currently dominates social media to be paid. Facebook is currently acquiring large companies such as Instagram and WA. it is disappointing if all the applications that acquired by Facebook company become paid.

I also share the same view as you, in life people tends to follow the footstep of others especially when that footstep has a success story behind it, and blockchain is not an exception, we have seen lots of project following the footstep of their predecessor with a slight different ideas, so if Facebook happens to be successful in lunching its own coin many similar project will want to lunch theirs as well, i think this could be a positive thing to crypto because once FB succeed other company will definitely be interested.

The fact that Facebook will bring attention to cryptocurrency will not bring any value. Facebook will not use a cryptocurrency, but will use its stable coin. it's the same as he uses the dollar

Facebook coin will be big as bitcoin if it really release at the next year.. Just imagine the hype it will gain and this will be lead to a positive thing to the blockchain also. Cryptos will being see as a good choices to make a payment fast and easy without middleman anymore.

If, however, the crypt market has passed the next bottom and we see the beginning of a new stage of growth, then the appearance of such news is quite obvious, and, most likely, this can happen. We are talking about the emergence of cryptocurrency on Facebook, which means that we are waiting for a lot of positive events in cryptocurrency. If the launch of the cryptocurrency of the social network Facebook is scheduled for 2020, then somewhere in the same place we will see an even greater growth in the cryptographic market. In general, this is a good trend, and I believe that everything will be just better.

Facebook has offices virtually in most parts of the world where they are operating and we know that Facebook platform is a platform used globally, so if Facebook is creating a coin, it will surely be used by its users in different part of the world, but that doesn’t mean it will be a global currency as people claim it will be.

Whatever coin Facebook is going to create will be a stable coin to be used by its business members because I don’t see how useful it will be to an ordinary user since the coin will be a stable coin purposely or their system and not a general utility coin like BTC or ETH.

Facebook likes to control everything - just think about WhatsApp and Instagram. The more we learn about the processing and use of our personal data by this company, the more suspicious the idea of creating their crypto becomes.
Bitcoin’s sense is to reject centralized systems and transfer control over your finances into the hands of each individual, but I doubt very much that FB supports this idea. This new crypto (if they really launch it) will be not decentralized at least.

Facebook has announched this program and will come true, but I doubt most people who use this coin for payment system. It will be good if many people uses this coin because it's trestle for most people to know the real cryprocurrency especially the coin who has decentralized system. Sometimes we need a decoy to attack many people to know cryptocurrency and at least to change their perspective againts cryptocurrency who previously thought that cryptocurrency was a trifle money or even a place of fraud. The facebook's user are a rif and even for the citizen of US they has considered that Global Coin is the solution for payment system instead cryptocurrency.

There is no doubt Facebook has capability to launch his own coin. But l am confused for that face book had banned the advertisement for crypto  currency. Then how can manage its own coins, whenever maybe coins related to crypto currency. Because crypto currency had reached the peak point of popularity.

Despite the fact that the Facebook Coin may be centralized to enable monitoring and control by Government it will surely go a long way to preach the gospel of cryptocurrency and further endear it to millions of people who are members of Facebook and WhatsApp ecosystem

sure, i have the same think like you man, in 2021 is a new ATH for bitcoin because many big company are entering blockchain industry and this situation can affected bitcoin price in future

Well if the Facebook team can withstand the pressure and imposition am sure the US government will impose on them, then probably this dream would come to pass.. It's great news in my opinion coupled with news that telegram would be releasing it's own currency in the third quarter of this year.. I think mass adoption is here already...

I'm sure that this 'GlobalCoin' will be centralized, the aim for this token/coin is smooth the transaction that happen in Facebook whether is for ads/donation. But I'm hype with the adoption, blockchain and crypto will become mainstream.

As I understand it, they want to pay for viewing advertising with their own cryptocurrency.  The idea is not new, but promising, especially for such a giant as Facebook.  For me, Telegram's idea is more interesting, let's see what happens.

If is truely happen that that new coin of facebook will launch, I think there is a new competitor or I can say that bitcoin has a huge and strong competitor. Because all we know that facebook don't need to advertise if they launched their own coin because they are already popular so people will surely adopt that coin.

I am very active on Facebook I wonder if they are going to do airdrop, and what algorithm, they are going to use, are they are going to create their own chain since they have all the means to do this and will they do a bounty campaign, of course, everybody wants to get this coin.

If possible, this coin will certainly have a very large market capitalization and will attract many investors around the world to invest in this market. I think this is a prediction that will happen in the near future because Facebook is one of the top 10 largest companies in the world and GlobalCoin coin will be the most suitable opponent to defeat Bitcoin in the near future.

Indeed, with many users around the world, facebook could be smartest company. When globalcoin launch, investor must be want to invest and facebook marketplace will use global coin. When its already launch, i think invest in global coin is profitable

I think they also like to invest in Crypto field that's why they are trying to launch their new coin for their future if it was successful one day then the other companies like Facebook will ready to enter into this once it has been launched with enthalpy lots of scope will be created by the normal people also with the help of cryptocurrency field.

It could happen, especially if the investor has believed facebook and globalcoin, so they will invest the money with them. But as they already see that many projects became a scam and some of the investor still worried to get scam again. Maybe some of the investors will invest with facebook, and the other will take a look at the progress before they invest. They don't want to make the same mistake as before, and they need to see first.

This is a great start of crypto contest in the crypto space. Experts call the coins that will be launched by Facebook as “Bitcoin Rival” which means that they think it will give Bitcoin a tough time in the market. In addition, it is going to add extra $9 billion dollars into the annual revenue of Facebook making it the only social media platform with great revenue.

This time it's really true, they are making headlines everywhere, so we can expect the realization of that new coin before the end of the year, in time for Bitcoin halving, I have a strong belief that these two big headlines will help Bitcoin reach a new all time high.

I wonder how the market will react to coins from such Giants as Facebook. I think that the market may change and we will see other leaders in capitalization.

Global Coin! Great, another shit coin is going to be dumped into the crypto industry. i bet anybody would invest into this coin, what is going to be the use case anyway (facepalm!)

I am very sure that it is going to be an epic battle between Facebook coin and Bitcoin is days to come. Only time will decide the winner but according to experts, this Facebook coin is going to be Bitcoin Rival which means that making use of its great user base, Facebook is looking forward to making great money with their coins as much as $9 billion annual. In the ends, it is the crypto circle that gets extended.

It's currently the biggest headline in the cryptocurrency community, and that a dozen countries will eventually grow to 50 or even more, we know how good Facebook marketing is, everything they introduced become a duck that lays golden eggs for Mark Zuckerberg and it's investors.

I am very cautious about this coin and the project as a whole.  I do not think that this will make something sensible.  Better not to hope for it.