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Author Topic: If Facebook promotes cryptocurrency, would it positively promote it?  (Read 1590 times)
SnowAugustine
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September 17, 2018, 11:05:45 AM
 #1

I've read that Facebook is going to have its cryptocurrency https://cryptobriefing.com/ready-for-facebook-coin/
Since Facebook and Mark Zuckerberg as an entity is highly influential, do you think it would bring crypto in a positive light? I am thinking that it may raise awareness of cryptocurrency as a whole and not just bitcoin.
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September 17, 2018, 11:21:46 AM
 #2

I've read that Facebook is going to have its cryptocurrency https://cryptobriefing.com/ready-for-facebook-coin/
Since Facebook and Mark Zuckerberg as an entity is highly influential, do you think it would bring crypto in a positive light? I am thinking that it may raise awareness of cryptocurrency as a whole and not just bitcoin.

Facebook actively promoting a cryptocurrency (its altcoin) and Facebook promoting cryptocurrency are 2 different things. If anything, a Facebook linked cryptocurrency will be worse than fiat - you will have absolutely no privacy and you can't shift these coins to any other organization. I really don't care whether Facebook starts its own currency or not.


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BertoloyBTC
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September 17, 2018, 11:54:53 AM
 #3

That could be possible for facebook to promote cryptocurrency and I believe it will be positive in results ,for facebook of many followers there could be possibilty that facebook users will adopt crypto because of the promotions of cryptocurrency in this social media which has millions of users.
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September 17, 2018, 12:01:39 PM
 #4

I've read that Facebook is going to have its cryptocurrency https://cryptobriefing.com/ready-for-facebook-coin/
Since Facebook and Mark Zuckerberg as an entity is highly influential, do you think it would bring crypto in a positive light? I am thinking that it may raise awareness of cryptocurrency as a whole and not just bitcoin.

Facebook actively promoting a cryptocurrency (its altcoin) and Facebook promoting cryptocurrency are 2 different things. If anything, a Facebook linked cryptocurrency will be worse than fiat - you will have absolutely no privacy and you can't shift these coins to any other organization. I really don't care whether Facebook starts its own currency or not.

Alll true but perhaps relevant is that wechat bucks are the most popular cryptocurrency on the planet with ten billion or so transactions per day, so the social media companies still have real sway in terms of what currency we use (we use the worst one we can, Gresham's law). 

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September 17, 2018, 12:19:57 PM
 #5

well, facebook is one of the most popular social media platform in the world and i think facebook promoting crypto can be possible since facebook is reversing its ban on some cryptocurrency ads. facebook will now allow some preapproved advertisers to promote crypto businesses and services, like exchanges.
butka
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September 17, 2018, 12:23:06 PM
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 #6

I think Facebook and its founder Mark Zuckerberg have nothing to gain by running their own crypto-currency. Facebook is a highly centralized company, while the most successful crypto currencies are decentralized money by definition. So these two aspects are incompatible.

So, no, I don't think their will be a Facebook crypto. They could have accepted and implemented some form of crypto payment if they wanted to do so already. But they obviously don't want to do that.

However, Mark Zuckerberg is not stupid, and he knows the potential of the crypto space. For example, he has already expressed interest in acquiring Coinbase.
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September 17, 2018, 12:42:54 PM
 #7

If Facebook is back in promoting cryptocurrency, of course this is very good because Facebook is one of the most social media users at the moment, hopefully with Facebook again in displaying the crypto world it can warm up the price of bitcoin now again down.
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September 17, 2018, 12:57:33 PM
 #8

I think Facebook and its founder Mark Zuckerberg have nothing to gain by running their own crypto-currency. Facebook is a highly centralized company, while the most successful crypto currencies are decentralized money by definition. So these two aspects are incompatible.

So, no, I don't think their will be a Facebook crypto. They could have accepted and implemented some form of crypto payment if they wanted to do so already. But they obviously don't want to do that.

However, Mark Zuckerberg is not stupid, and he knows the potential of the crypto space. For example, he has already expressed interest in acquiring Coinbase.
That's true. Facebook absolutely has no reason to launch their own cryptocurrency. I can't imagine any benefit for Facebook by launching their own crypto yet they will have tons of legal issue if they really launch it. So that rumor is very very unlikely to happen.

What they did say is they're exploring the potential of blockchain for their system. Blockchain isn't just in the form of cryptocurrency. Bitcoin and alts are just one implementation of the blockchain. But even then, I doubt they could find something useful from Blockchain for their system, at least not in the near future.
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September 17, 2018, 01:00:13 PM
 #9

I think Facebook and its founder Mark Zuckerberg have nothing to gain by running their own crypto-currency. Facebook is a highly centralized company, while the most successful crypto currencies are decentralized money by definition. So these two aspects are incompatible.

So, no, I don't think their will be a Facebook crypto. They could have accepted and implemented some form of crypto payment if they wanted to do so already. But they obviously don't want to do that.

However, Mark Zuckerberg is not stupid, and he knows the potential of the crypto space. For example, he has already expressed interest in acquiring Coinbase.

By reading article it is not clear that FB has real intent to create his own digital currency, but their team is "exploring ways to leverage the power of blockchain technology", and even if they decide to move in that way (to create currency) it will take several years that this coin comes into official use.

It also say that FB have or could count on over 2 billion users, it is huge number when we compare that with total number of crypto users today - so maybe they will try to take advantage of it and make some money, at the end it is all about profit.


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September 17, 2018, 01:16:28 PM
 #10

I think if Facebook promotes crypto currencies, this is a good thing because it can increase the growth of investment in crypto currencies, this will make crypto currency prices even better than now, I think I will support that too.
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September 17, 2018, 01:19:20 PM
 #11

I've read that Facebook is going to have its cryptocurrency https://cryptobriefing.com/ready-for-facebook-coin/
Since Facebook and Mark Zuckerberg as an entity is highly influential, do you think it would bring crypto in a positive light? I am thinking that it may raise awareness of cryptocurrency as a whole and not just bitcoin.

Facebook actively promoting a cryptocurrency (its altcoin) and Facebook promoting cryptocurrency are 2 different things. If anything, a Facebook linked cryptocurrency will be worse than fiat - you will have absolutely no privacy and you can't shift these coins to any other organization. I really don't care whether Facebook starts its own currency or not.

True in many ways. Because Facebook recently shown that they are against the crypto currency and they dont want to accept its promotion over the Facebook at all. They have already banned many crypto related campaigns from their platform and thus makes me think that how bad it will be if it came down to their own promotions. Who would go for buying their FB coin if they have already disappointed many crypto users at all? Mostly Facebook will look after their own benefits and thus wont allow us to transfer the funds or exchange the FBcoin or whatever they will call it to the other crypto at all. Dont know I have lot of mixed feeling about the Facebook if it ever launches any coins.

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September 17, 2018, 01:19:55 PM
 #12

I wouldn't be surprised if they did this, considering their interest in e-commerce. They have a marketplace section for Facebook right? This would be right in line with trying to promote that. I don't know if it'd be accurate to say they're launching a cryptocurrency though, because even if they did come out with one, it's going to act more like a token, but probably with its own blockchain.

I don't think this affects Bitcoin or any other crypto in any way, considering how different this will be (centralized, controlled, etc.) if they go through with it.

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September 17, 2018, 01:36:13 PM
 #13

It will have positive impact for their own coin but I don't think it will for crypto market as whole.
I've been speculating that they will do something in favor of them after those bans and blockchain research that they did.
But the article only says "according to insiders".

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September 17, 2018, 01:43:44 PM
 #14

I've read that Facebook is going to have its cryptocurrency https://cryptobriefing.com/ready-for-facebook-coin/
Since Facebook and Mark Zuckerberg as an entity is highly influential, do you think it would bring crypto in a positive light? I am thinking that it may raise awareness of cryptocurrency as a whole and not just bitcoin.

We already know that Facebook users are very many in this world, and are still actively used by many people, I think any company will also use Facebook for advertising or promotion, because it will quickly be known by many people, as well as cryptocurrency if advertised by Facebook but Ad content must also be positive, good and support cryptocurrency
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September 17, 2018, 02:04:53 PM
 #15

I've read that Facebook is going to have its cryptocurrency https://cryptobriefing.com/ready-for-facebook-coin/
Since Facebook and Mark Zuckerberg as an entity is highly influential, do you think it would bring crypto in a positive light? I am thinking that it may raise awareness of cryptocurrency as a whole and not just bitcoin.
I think Facebook will launch its own cryptonya to keep up with current digital developments, of course it will have a positive effect on the public, so it can attract other investors to know more about cryptocurrency, depending on the Facebook team that manages it well, progress is still open to them who wants to fight in this scope.
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September 17, 2018, 02:30:01 PM
 #16

Many people in the world use Facebook, which will promote the popularity of bitcoin. Then the market bitcoin development is just one way soon.
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September 17, 2018, 03:03:47 PM
 #17

It will be nice for facebook to have its coin though it might be controlled because it is going to be centralized but it is going to get to the world faster and questions will start flying around about cryptocurrency. It will add to marketcap definitely.
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September 17, 2018, 03:09:39 PM
 #18

If FB introduced their own crypto it would probably be a catalyst for higher prices in the short-term.  However, any lasting effect it would have would depend on the nature of said FB-introduced currency, and it's features/ level of adoption. 

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September 17, 2018, 04:02:38 PM
 #19

Usually thru the social media usually it hits the target but in the same time it can have a negative impact thru the quality of the info. Usually the promoted information are not very rich.
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September 17, 2018, 04:37:19 PM
 #20

Honestly, I didn't like that site cause I really cannot read the article, I need put my email to read that site it's very annoying. Facebook has a plan to made their own cryptocurrency and this plan has been known by many user in this forum. Well, Facebook has a lot of capital and this social media already has many users, and I guess by promoting that Facebook will make their own cryptocurrency just in their platform, I am very sure that many users will be interested in having their currency.

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