Facebook ‘Exploring’ Making Its Own Cryptocurrency, Media Report

[rvlrshr]

Facebook is reportedly “exploring” the creation of its own cryptocurrency, news media outlet Cheddar reported May 11.

According to Cheddar’s anonymous sources, people “familiar with Facebook’s plans,” the social media giant is “very serious” about plans to launch an in-app virtual coin.

The unconfirmed information comes the same week the platform announced that David Marcus, head of its Messenger app, would transfer to heading a dedicated blockchain research group.

Marcus’ appointment to Blockchain operations was immediately conspicuous, the executive previously having worked in the finance sphere for PayPal and subsequently joining US cryptocurrency exchange Coinbase’s board in December 2017.

At the time, Coinbase CEO Brian Armstrong praised Marcus’ cross-industry background in both payments and mobile communications.

The move nonetheless provides for a curious juxtaposition for Facebook, the platform having banned cryptocurrency-related advertising across its network in January. Also citing “misleading or deceptive promotional practices,” the ban was copied by both Google and Twitter soon after.

Read more about this article here: https://cointelegraph.com/news/facebook-exploring-making-its-own-cryptocurrency-media-report

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[dupee419]

Hopefully, if this is legitimate I think that facebook entering the cryptoworld would be a big difference, If facebook enters crypto that virtual cpin like they'll be making may be very powerful, hopefully with the power of facebook people would start to recognize cryptocurrency and start realizing that cryptocurrency is real and not a scam.

[Insanerman]

This is a very positive news for everyone, it will expose the use of cryptocurrency worlwide, even the smallest countries in our world. Well I am curious about this, how can we use in real life situation of cryptocurrency in their platform which is facebook? Is it the same with steemit, you are paid just by posting, if that's their case the it will be a problem, facebook will become polluted by spamposts, asking for likes, comments and shares.

Ironically speaking, why would facebook ban cryptocurrency ads if they have a plan to create their own cryptocurrency .. LOL

[josephpogi]

Facebook is reportedly “exploring” the creation of its own cryptocurrency, news media outlet Cheddar reported May 11.

According to Cheddar’s anonymous sources, people “familiar with Facebook’s plans,” the social media giant is “very serious” about plans to launch an in-app virtual coin.

The unconfirmed information comes the same week the platform announced that David Marcus, head of its Messenger app, would transfer to heading a dedicated blockchain research group.

Marcus’ appointment to Blockchain operations was immediately conspicuous, the executive previously having worked in the finance sphere for PayPal and subsequently joining US cryptocurrency exchange Coinbase’s board in December 2017.

At the time, Coinbase CEO Brian Armstrong praised Marcus’ cross-industry background in both payments and mobile communications.

The move nonetheless provides for a curious juxtaposition for Facebook, the platform having banned cryptocurrency-related advertising across its network in January. Also citing “misleading or deceptive promotional practices,” the ban was copied by both Google and Twitter soon after.

Read more about this article here: https://cointelegraph.com/news/facebook-exploring-making-its-own-cryptocurrency-media-report

So here we go we need to buy more bitcoins or cryptocurrency now until the value is too low i think this is a good news for us and i am sure that after 2 -5 years crytpocurrency will become more famous and the value will go rise too 100 percent sure.

[VentureHero]

This is a very positive news for everyone, it will expose the use of cryptocurrency worlwide, even the smallest countries in our world. Well I am curious about this, how can we use in real life situation of cryptocurrency in their platform which is facebook? Is it the same with steemit, you are paid just by posting, if that's their case the it will be a problem, facebook will become polluted by spamposts, asking for likes, comments and shares.

Ironically speaking, why would facebook ban cryptocurrency ads if they have a plan to create their own cryptocurrency .. LOL

Actually they have the numbers and the power to create a real "world currency". Facebook has worked a lot in the latest years to integrate ecommerce directly in the platform.

Just think being able to buy/sell anything immediately within Facebook. It's something already experienced for example in China with WeChat. The difference is that in China they are using fiat currency.

[mindrust]

It will enter to the top 10 crypto list right after the release.

As much as I hate facebook&zuckerberg, this is huge. They even banned the other ICO ads to reduce the competition. Due to its centralized nature though, it will eventually collapse in the long run. I wouldn't keep my life savings on that like I do it with bitcoin.

[Rossy Akbar]

Hm, last time I've heard about that facebook will not allow bitcoins ads and now they make this kinda thing happens,  I don't know exactly if it's true or just issues. But as a bitcoiners and a facebook users I really proud of it, and I hope it will be true fact.

[exstasie]

It will enter to the top 10 crypto list right after the release.

As much as I hate facebook&zuckerberg, this is huge.

Why, though? I don't disagree, there would be a lot of hype. Like the Telegram ICO hype x 100. But I just can't imagine a legitimate reason for a real, decentralized cryptocurrency. It almost feels like a one-off comment for the sake of relevance and PR, with no real plans for a crypto.

[marcbitcoins]

Hm, last time I've heard about that facebook will not allow bitcoins ads and now they make this kinda thing happens,  I don't know exactly if it's true or just issues. But as a bitcoiners and a facebook users I really proud of it, and I hope it will be true fact.

If this is true that they really want to join Crypto currency and making their own FBcoin while banning the other ICO and Crypto currencies advertisements then it will be a marketing strategy because only their FBcoin can be promoted on their Facebook site. Just imagine by using their millions of users their coins will be probably a success because it will be 100% legit own by Mark Zuckerberg. I think i will invest to this coin if this news is not a hoax.  

[mostkey]

Hopefully, if this is legitimate I think that facebook entering the cryptoworld would be a big difference, If facebook enters crypto that virtual cpin like they'll be making may be very powerful, hopefully with the power of facebook people would start to recognize cryptocurrency and start realizing that cryptocurrency is real and not a scam.

if this is the case. then the chances for crypto dominate the world will be even bigger, and maybe hope for us to use crypto anywhere will be more quickly realized, considering facebook is the world's largest social media

[Ridwan Fauzi]

By hearing this news I have inference Mark Zuckerberg and Facebook will receive cryptocurrency ads related on facebook again. If this is true then everyone is aware of the payment system using cryptocurrency is very important to do. Everyone deserves to know the new system that will make any form of payment easily and without any third party governing such a government.

Or maybe just a diversion of issues that was going on a few days ago with his facebook scandal. Those who have a great business have good thinking skills, so with a few steps that do will find good results even before it has been getting a negative mark from Facebook users. The diversion of issues that will make them free from negative views by making cryptocurrency in the popular as a tool.

[noorman0]

Apparently my guess is true if this news is true.
Very smart for the facebook strategy attracts interest instantly, let the crypto ads on facebook until unstoppable, then banned instantly and run the promotion of crypto from his own creation.

[curry101]

I heard already that news, well i think it is a good news in crypto world. Crypto currency is again stepping forward. And because of facebook will create its own crypto currency many new investors will come.

[Kakmakr]

If I understand this correctly, they are not interested in using the technology as a currency. They want to use the Blockchain technology for something else. I think that would be a bad move, because they already have a huge user base and this token will take off like a storm, if they release this as a currency.

The fact that Facebook were one of the first social media platforms to ban Crypto currencies advertisements, makes this smell fishy. 

[mobiljonson]

I think this is good news cryptocurrency world because facebook want to legalize and use it. But quite strange also because I see the news in the last month facebook prohibit the existence of bitcoin ads, Well this news makes a fresh breeze for cryptocurrency

[jhache]

Yeah, I read that too. Facebook has over two billion users globally and launching cryptocurrency will allow them make payments using a virtual currency like Bitcoin.

There is double standard of facebook though, first it banned cryptocurrency ads and now it is launching its own cryptocurrency. May be they had planned it from start only. It is  a good news for all of us nonetheless.

[dado7]

All major players are speculating about creating their own cryptocurrency or joining in some other way. I think it speaks for itself against the arguments of all those criticizing cryptocurrencies as a passable thing.

[wantjokull]

Yeah read that one earlier but hopefully thats just the plan for now and nothing else. For time being they are just exploring as the article said that itself but no real developments yet. However if it does happen that they form crypto currency of their own then they will shook the market cap dramatically. We know very well how Facebook is getting used, thus fan following will be huge, and well this crypto era too! Who knows FBCOIN (imagination) might just get listed in 2nd rank on CMC. Lolz Anything can happen and would be worth watching it.

[alonelyorange]

I have still confused about the social media facebook have take their action to banned cryptocurrency advertising, we know billion thousand people around the world are using facebook. By advertising cryptocurrency using facebook social media, we can take many investor to buy and participated at cryptocurrency. More than the other media channel, by using facebook is more easy and make many investors will be interested to partcipated at bitcoin or cryptocurrency and we could easy ask them.

[torch2121]

This is definitely good. As for me as I use a lot of their Facebook advertisement as I advertise. This will be a good advantage new alternate payment will be created by Facebook which is a good advantage for me. Hope this will be implemented as soon as possible. As Facebook create its own cryptocurrency the banning of cryptocurrency will be moved back.

This is going to be exciting how the market will bull run again in the coming months.