Bitcoin Forum

Facebook's cryptocurrency is highly anticipated in the crypto community to be one thing that helps increase mass adoption. With the help of Visa, Mastercard, Uber and PayPal, this can finally become a reality.

Reports surfaced earlier this week by the Wall Street Journal that social networks had signed more than a dozen companies to support crypto currencies, stablecoin which had been developed in secret for more than six months. Each of these new supporters will invest around $ 10 million in the project as part of a consortium that regulates cryptocurrency.

In addition, the report said that Booking.com, Stripe, and MercadoLibre were three other companies that were part of this project but there was no one to determine their role to date.

Facebook has revealed that it was GlobalCoin last December, although the company has suggested that they are looking at cryptocurrency as far back as 2017.

I still find it very difficult to believe all the news circling the Facebook global coin, since no news has officially come from Facebook. I believe there should be a source of where you got your information from, do good to add it and let's try to figure out how authentic is your information.

It's unbelievable for me, few years ago, Facebook announce if they will be blocked crypto advertising on their platform. But today i read if FB will released their cryptocurencies whitepaper on 18 June.

If that news is right,  i think it will be easy for FB to find another financial corporate partner. But, as sacramentus says, no official statement from them, its mean till today just an rumours.

Nothing yet that is coming officially form facebook itself but just from their financial staff. But all that's been in that news perhaps made this price spikes. Its however very ironic to see one of the reason why price of bitcoin dumps terribly was also because of facebook banning crypto in their social media platform and now they are also helping it regain.

Exactly my bias too! I think all these articles,  news flying all around are nothing mere rumours which however can only be subsided with a release of an official update from the body in question. Therefore, it not safe to get haywire from all these.

There are many businesses who are investing in globalcoin with the desire to have huge profits in the future in Globalcoin's services. This is also one of the largest projects ever, we will see the crypto market will have more whales and the market will become more volatile when there are too many whales manipulating. price.
Prepare yourself and see which whales fight each other.

My guess would be this globalcoin will be accepted in those companies service.
At least this coin does have usecase already.
Not like those altcoins that are conducting ICO, most of them are useless.

The main thing is that it can increase the number of users of cryptocurrency, increase trust, people will see that the use of cryptocurrency is convenient and simple.

Outstanding news, hope this hype around Facebook coin is going to bring our industry on the new level. I do not know exactly when they are going to launch this coin, but without any doubt it is going to be awesome.

It's one more step towards mass adoption. We can safely say that this is the recognition of cryptocurrency markets by world giants. Blocking crypto advertising -  that's all in the past now, the next bull run will be unimaginable.

Just thinking...FB coin will have to be used from FB users, but no sign of that on FB to inform users...just finding this weird.

Personally, I'm still waiting for the latest news about this real concept.
Well, if it's true, it will be one of the promising projects to be followed up. We know that Facebook has had a big name and I think it must have their big crypto through GlobalCoin. However, how is about the chance? Let's see how it will be after on exchange.

It is basically because all mainstream companies and enterprises want to be associated with crypto in some way because they know the potential holds and i think all these events of fb launching a coin and major companies backing it is a sign of adoption and massive news  for crypto market.

This is a great development and if all this companies adopt and invest in this globalcoin I think bitcoin will also benefit from it . I strongly believe that we have been praying for mainstream adoption of cryptocurrency and company like PayPal, Facebook, MasterCard and book.com coming into cryptocurrency and investing in it is one of The greater things that will happen to bitcoin and “blockchain technology in general” and I believe that governments are going to see this as opportunity to “adopt bitcoin and cryptocurrency into our financial system”.

I read this news today and was very surprised that such large companies as Visa and Uber decided to invest in Facebook cryptocurrency. This proves once again that when the token of this project goes to stock exchanges, it will have a huge demand.

If this really happens and facebook will release its cryptocurrency, then this news will bring a huge number of new users to the cryptocurrency market, which will certainly have a positive effect on development.

Facebook has taken a key approach to cryptocurrency because they haven't really given anything. It is still a question for what GlobalCoin will be used but the BBC has suggested that Facebook might look at retailers to allow their users to buy goods and get discounts using stablecoin.

In addition, this Cryptocurrency will be used to transfer money directly from Facebook to retailers, eliminating credit card companies as intermediaries.

It's already confirmed. And it truly makes the global coin of facebook global. Unlike the predictions of Facebook's crypto being only internally used inside the facebook ecosystem, the token seems to be used for every possible ways in real life. But we might also soon get a competitor from google and amazon.

Can you compare a big major companies which have so many supporters and partnership  and a small company that started from zero? it's not fair.
I would not be surprised to see that happen with the facebook global coin and maybe another major company will try to support or create their own one.
FB will never try to do a wrong thing because that can destroy its credibility.

I don't think anyone is surprise with the way big companies warm their heart to this project, Facebook is a huge success and if you look at what they have done with Instagram and Whatsapp, you would understand that they know well how to build a products, but can it compete well with BTC and do the market trust it, time will tell

If bitcoin recognized as digital asset not a currency, i think facebook coin can be success. Its hard to compete bitcoin right now because its too powerful and to gain trust like bitcoin did, but facebook is big company with billions market cap value and used by most people in the world, i think facebook can be a good investment if it launch

I don't care who visa/mastercard/uber supports really, even if the topic is crypto then I wouldn't care. Take a look at the companies, one is facebook which is under investigation for watching over us like big brother and giving valuable info to companies that would affect the elections by sending advertisements to undecided voters about the topics they like, literally shaping the political sphere of the whole world.

The others are visa and mastercard who are always under investigation about transactions not properly done in many countries and using the funds they have for making more profits without asking permission first and the last is Uber which literally has no ethical responsibility at all and has been under scrutiny for discrimination as well. I am sorry but these are all horrible companies.

Facebook crypto currency I think will be much different from altcoin or Bitcoin. Because Facebook starting point is different than all crypto at the moment. It is the leading technology corporation in the world, so its currency is also developed in another direction

Facebook's GlobalCoin is more like your current credit cards. As it should be a stable coin. It is not going to be like other cryptocurrencies. It is more like USDT, but it should be accepted everywhere as payment. It is not good for traders, except if the crypto market is in bear mode. And we don't know if it will be available on cryptos exchanges. And we can suppose that your wallet should be linked to your Facebook profile and that you will have to pass some sort of KYC to be able to use it. Facebook want to become a kind of bank, but they will know what is in your mind and your finance if you really use its services.

You know the world is cruel and is full of unfairness.
Just check the facebook profile of Mark Zuckerberg today.
He has announced the project libra already.

This is good news for all cryptocurrencies.
The more news with a positive shade, the greater will be the market capitalization for the whole crypt, including for Bitcoin

Big companies are supporting big companies, looks like they are planning to own a big market in the crypto space, but it's not something we called as a threat, as facebook getting more serious with their intention to do business in crypto, things will look better for the crypto space as a whole.

I just like to add one of the source OP is stating.

https://www.coindesk.com/report-uber-paypal-visa-to-back-facebooks-globalcoin-cryptocurrency

I don't think we can hope for the loyalty of the big financial giants any time soon. We still need to wait for the decision of the regulator USA. Since this market will not be able to develop without it.

If GlobalCoin gets support from VISA and Mastercard, and also big companies. It is not impossible to achieve extraordinary success. Automatically will boost popularity in the cryptocurrency community. I think all of us from now on can imagine and reality will be seen. Let's look forward eagerly. I was looking forward to his presence.