Facebook bans crypto advertising. Then says it’s working on its own crypto coin.

[vanhuy]

That is what makes me confused, really do not understand what facebook want to do.
Independence occupies the market sure?
Let them keep dreaming

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[sourish]

I think people are more than willing to invest in coins backed with trusted names and proven teams.

[adam1230]

Crypto coin is a serious thing and facebook lost trust all over the world.
This will lead them to shutdown and in my opinion they are not going to do their own crypto coin soon.

[VenturaBro]

Crypto coin is a serious thing and facebook lost trust all over the world.
This will lead them to shutdown and in my opinion they are not going to do their own crypto coin soon.

Yeah Idk just how much people are going to trust them after the whole privacy fiasco. I really hope they don't end up pulling through.

[manlyxman]

I think people are more than willing to invest in coins backed with trusted names and proven teams.

Especially with Facebook. Well I just hope it won't have any huge privacy issues but we'll see.

[Leah38]

Good day. If its true that Facebook will have their own crypto then I won't hesitate to invest once ICO starts. Facebook earns millions and investing on it will surely be a good decision. I'll keep an eye on it. I'll make sure I'll have ready.

[Mpamaegbu]

"The biggest management reshuffle in Facebook’s history has revealed the social network’s intentions to develop blockchain technology, though it is not yet clear for what purpose.

David Marcus, the former head of Facebook Messenger, announced this week that he will lead an exploratory blockchain group that will report directly to the company’s CTO, Mike Schroepfer.

Honestly, a lot of people saw this coming.

I make bold to say I was one of those who saw this coming. It's a business strategy and the domineering Mark Zuckerberg wouldn't want to miss out on a juicy pie like cryptocurrency. Just like Bill Gates has a share in the lucrative Facebook, so also will Zuckerberg want to have his fingers in anything lucrative. I am not surprised at all.

But I can't think of a reason why anyone would want to buy their coins

You wonder? Well, chances are that once a crypto for Facebook emerges fans of the social medium will fall over themselves to acquire it. And don't be surprised if it gives Bitcoin a good run.

[zxrcoin]

There is an inconsistency in different perspectives actually. Some are saying banning the advertisement Facebook has taken a good decision because there were frauds who took advantages of it and mislead the advertisements. On the other hand, many people are worried as it may have an adverse effect on the price of crypto currency.

[awazieik]

"The biggest management reshuffle in Facebook’s history has revealed the social network’s intentions to develop blockchain technology, though it is not yet clear for what purpose.

David Marcus, the former head of Facebook Messenger, announced this week that he will lead an exploratory blockchain group that will report directly to the company’s CTO, Mike Schroepfer.

Mr Marcus made the announcement in a Facebook post on Tuesday, 8 May, following rumours that Facebook CEO Mark Zuckerberg is interested in creating his own cryptocurrency. But very few details were given about what Mr Marcus's team will actually be working on. "

https://www.independent.co.uk/life-style/gadgets-and-tech/news/facebook-cryptocurrency-launch-bitcoin-blockchain-david-marcus-a8343261.html

Honestly, a lot of people saw this coming. But I can't think of a reason why anyone would want to buy their coins

There is so much that Blockchain technology can do in our world. Not every project using blockchain technology has to be coins but let me say that people would rather like to buy the coins of facebook than some altcoins. It has to do with experience

[shahani]

If facebook given a chance to operate and made their own cryptocurrency coin, I think it can be easily become popular, and it will also helps the total development of cryptocurrency business, that causes more people interested easily to join cryptocurrency because of the direct informations using facebook.

[zinson01]

Facebook decision is really disappointed because they know the future value of btc so they wants to apply their own and they are learning about blockchain system but I hardly believe that their project of their own coin will failed because bitcoin already establish currency and in the 1st position so they can’t beat with btc so investing on btc is great and they banned advertise of btc also but already people knows more about btc because of their profitability.

[StevenPop]

I'm not surprised. The reason for the ICO ban on facebook was not because facebook was against cryptos, rather it was because of the fact that people were being scammed on facebook using ICO Ads and in order to protect their users from falling victims to these scams further they decided to ban it on their platform.

[Arcoin1]

Facebook is the absurd decision to ban crypto advertising until this time. Facebook is a digital medium and crypto is digital on par. The prohibitions that need to be supported are not good.