Facebook & Google creating its own Cryptocurrency!

[digaran]

Facebook CEO Mark Zuckerberg says Facebook will be looking into cryptocurrency in the new year.

Here's a link and quote to his personal mission statement for 2018, as found on facebook: https://www.facebook.com/zuck/posts/10104380170714571

Quote
Every year I take on a personal challenge to learn something new. I've visited every US state, run 365 miles, built an AI for my home, read 25 books, and learned Mandarin.

I started doing these challenges in 2009. That first year the economy was in a deep recession and Facebook was not yet profitable. We needed to get serious about making sure Facebook had a sustainable business model. It was a serious year, and I wore a tie every day as a reminder.

Today feels a lot like that first year. The world feels anxious and divided, and Facebook has a lot of work to do -- whether it's protecting our community from abuse and hate, defending against interference by nation states, or making sure that time spent on Facebook is time well spent.

My personal challenge for 2018 is to focus on fixing these important issues. We won't prevent all mistakes or abuse, but we currently make too many errors enforcing our policies and preventing misuse of our tools. If we're successful this year then we'll end 2018 on a much better trajectory.

This may not seem like a personal challenge on its face, but I think I'll learn more by focusing intensely on these issues than I would by doing something completely separate. These issues touch on questions of history, civics, political philosophy, media, government, and of course technology. I'm looking forward to bringing groups of experts together to discuss and help work through these topics.

For example, one of the most interesting questions in technology right now is about centralization vs decentralization. A lot of us got into technology because we believe it can be a decentralizing force that puts more power in people's hands. (The first four words of Facebook's mission have always been "give people the power".) Back in the 1990s and 2000s, most people believed technology would be a decentralizing force.

But today, many people have lost faith in that promise. With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it.

There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.

This will be a serious year of self-improvement and I'm looking forward to learning from working to fix our issues together.

Ask Zuckerberg if he could lend me 0.8BTC? I'm in a critical state, need a place to live (mostly for jumping purposes to be honest), some body probably spends hundreds of thousands of dollars on AI to put in their palace, and some body like me is begging for a no collateral loan of 0.8BTC.
I've realized it now, facebook is looking to help people, they have been helping people for years, if they come here to announce their ICO would be only to help people. accept crypto, nothing more, they don't need to have their own.

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[stompix]

Well, Telegram is already making crypto, facebook showed their intereset , I don't see why  Goolge would sit aside.

Because each company having it's own crypto is stupid as hell.
Rather than using a different crypto for each service I would stick with the Euro.

The funny thing is that a thread re: facebook and google are into cryptocurrencies is 6 page long at present, while the thread re: microsoft drops bitcoin from its site is only two at the same time. It shows that people in that forum are 3 times more positively oriented to Bitcoin. OR: that they are heavily invested in bitcoin and this is their wishful thinking

It has nothing to do with bitcoin.
This thread is about two companies creating some two new altcoins, and the numbers of posts indicate quite the contrary you assume.
People are interested in a alternatives.
But the reality is actually a sad one. It's just  spam fest.

This one promotes a healthy competition within other cryptocurrencies knowing that major companies like Facebook and Youtube can make their own coins or token to promote digital currencies more. With this, a lot more will invest in cryptocurrency further promoting a digital era.

It's going to be nice.
We will have coins for youtube, facebook, twitter, twitch, telegram, instagram, pinterest....
And the reason to use each of those coins would be??

I don't want to miss this. I'm following this post and I hope when Mark Zuckerberg and Facebook starts their ICO I am able to buy Some. I'm sure it will have a big impact on Bitcoin and Cryptocurrencies. Bitcoin is decentralized but if more companies starts accepting Bitcoin or a similar currency the value will definitely increase and it will be more practical.

Why would a centralized crypto be more practical than the digital cash we have in form of cc cards and bank transfers be?
What's the point?
Handing all your money to facebook? Smart move!!!!

[Goldberg007]

I think it's a good idea.If big companies like Google and Facebook creating its own cryptocurrency than I sure more and more invester were involved in the world of cryptocurrency. I hope they can make own  cryptocurrency soon.

[kaya11]

Your thoughts on Facebook and Google creating its own Cryptocurrency. I know BTC is the pioneer in cryptocurrencies and currently has the highest value but if this two giant companies will release their own cryptocurrencies I don't think anyone would want miss that. Its not impossible right? Similarly Other companies like twitter & Youtube and even UBER can also dig into cryptocurrencies. If major companies can consider BTC as their main cryptocurrency, BTC value will definitely skyrocket.

Bitcoin will still be on the top, I think it's hard for other new coins to snatch it's crown being the king of cryptocurrencies. No matter how many coins are made everyday, still it won't affect Bitcoin. I don't see any good things coming if Facebook and google producing their own coin, and for what purpose if they will? Maybe it will just be a hinder for the Bitcoin's cause and dividing the community, just what alts are doing now and it saddens me.

[mOgliE]

I don't know... Personnally, if Microsoft or facebook release ther own crypto, I won't buy it. Just because bitcoin has been designed in order to allow to anyone to get rid of large banking institutons currently controlling prices... So what would be the point of buying crypto designed as a product?

Buying Fb cryoto would mean buying marketing, ad, and so on... This is not the point!

I hope that if they release a crypto it will change nothing... Just because it should be ignored. But, I understand that the power of the "brand" may be blinding...

Let's wait and see

[joebrook]

I think it's a good idea.If big companies like Google and Facebook creating its own cryptocurrency than I sure more and more invester were involved in the world of cryptocurrency. I hope they can make own  cryptocurrency soon.

Nowadays, cryptocurrency are being made on a daily basis, I recently read that Kodak have already made their own coin and they are calling it kodakcoin. I also heard about a cryptocurrency where people are able to get the coin by just exercising, I really don't know how valuable it is though.

[dificanovi]

if google and facebook create your own bounty campaign then this will be a very festive event. I will definitely join their bounty campaign. bitcoin prices will go up and people will have fun because they will be given a lot of stake.

[mintonsob]

In my opinion, social networking sites shouldn't create their own cryptocurrency because it will just restrain people from enjoying the free communication.

[fancypretty]

I thought that these social networking sites are already using Bitcoin. But, if they already require payments for accounts, people would lose interest in using them and choose another way to communicate.

[dimastegar]

A good move for the two big companies in the world. Facebook and Google will be kicked off the Cryptocurrency market more widely. Because users of Facebook and Google are very much in the world.

[Hannah777]

If Google and Facebook ever borne the idea of creating their very own cryptocurrency, then it's gonna be boom in the cryptocurrency world.

It means more people, more money, more acceptability.

[Muruga]

Likely soon each large corporation will have its own digital token, like the way stocks and securities currently exist.
Therefore, both Google and Facebook and other IT-giants will try to move to a block-chain basis.
The only question is which crypto currency will combine all the tokens.
At present, bitcoin, ethereum and a number of other crypto-currencies play such a role.

[Zebra.Guy]

Likely soon each large corporation will have its own digital token, like the way stocks and securities currently exist.
Therefore, both Google and Facebook and other IT-giants will try to move to a block-chain basis.
The only question is which crypto currency will combine all the tokens.
At present, bitcoin, ethereum and a number of other crypto-currencies play such a role.

Securities are derivative instruments built upon other more basic instruments. In that way you can build infinite structures of derivatives built on derivatives. You don't need cryptocurrencies for it. By the way, in the world of crypto we have our first derivatives already, too

[teejaymuna]

I would welcome cryptocurrency not just from Facebook and Google but from any other valuable company worldwide. Cryptocurrency is the future.

[teejaymuna]

I would welcome cryptocurrency not just from Facebook and Google but from any other valuable company worldwide. Cryptocurrency is the future and BTC is the leader.

[sidodadii]

i know facebook create their own crypto, but i dont know google too
they interest with bitcoin, and believe bitcoin can bring to the best future for them.
who know but im sure their crypto cant be compete with real bitcoin. crypto just have one bitcoin. its bitcoin itself.

[markleal]

Your thoughts on Facebook and Google creating its own Cryptocurrency. I know BTC is the pioneer in cryptocurrencies and currently has the highest value but if this two giant companies will release their own cryptocurrencies I don't think anyone would want miss that. Its not impossible right? Similarly Other companies like twitter & Youtube and even UBER can also dig into cryptocurrencies. If major companies can consider BTC as their main cryptocurrency, BTC value will definitely skyrocket.

Hi there BitKinginfinity! Those issue is not new by now, it is just creating news but no further proof of that. Lately, I’ve read one of the company you listed is interested in the blockchain technology but not in crypto or tokens. Anyway, given the fact that they will dive into the cryptocurrency, they will sure reach success through their vast advertising capability. However, people will not be carried away by their coins to be because those will be build govern by them, centralized and not publicly can be mined by people. 

[BlackRacerX]

That will be great. A lot of people would be immersed to cryptocurrency specially the young ones like the millenials. A lot of millennials has a habit of facebooking and googling a lot of things these days and making them familiar and known to cryptocurrency, a lot may even invest and place a lot of money on bitcoins and alt coins.

[cloud.runner]

when a company, or similarly a country, a bank, a financial firm,.... creates a new coin based on bitcoin using the blockchain technology, they are always creating a centralized token and that is a creating huge difference. it may seem like nothing in words but in reality the difference between bitcoin being decentralized and global without any kind of restrictions regarding usage whatsoever and a centralized token that a company issues is a huge one.

they can try and make their own version and many of them are doing it, but in the end it will be just another altcoin in  a sea of altcoins.

Can't agree more. In fact, Bitcoin's blockchain is training now, it runs quite well. Don't worrying about the price dip.

[rhayot]

If facebook and google will make their own cryptocurrency, it is a good idea because they have the rights to create their own and besides cryptocurrencies doesn’t controlled by anybody it is not decentralized.  And definitely if Facebook and Google will push this plan, many users will recognize and be part of it.