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joniboini
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March 14, 2019, 06:11:59 AM |
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Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.
$19 billion, if that's really happening, then is just a waste of money.
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hugeblack
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Activity: 2492
Merit: 3602
Buy/Sell crypto at BestChange
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March 14, 2019, 06:24:01 AM |
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The said cryptocurrency would allow users to make direct transactions, and will be tied to the value of fiat currencies. The correct expression of it will be a digital currency rather than a cryptocurrency, and it will bring more revenue but will not differ greatly from the idea of being stock. As for the people will not get something from HODLing it because it will remain constant value for long periods and may not resort to Facebook to manipulate the price. Yesterday, Facebook suffered from an interruption in service for a long time so I do not expect their currency to be a real competitor to Bitcoin. We’re aware that some people are currently having trouble accessing the Facebook family of apps. We’re working to resolve the issue as soon as possible. |
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livingfree
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March 14, 2019, 06:42:23 AM |
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"IF" investments stop flowing in.
When do you expect that investments will stop flowing?
Facebook coin is becoming overhype just because it is 'facebook' but if comparing with the other coins they don't have much difference. Facebook should should focus with blockchain integration of their platform through bitcoin instead of creating another altcoin.
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CryptopreneurBrainboss
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Merit: 4133
eXch.cx - Automatic crypto Swap Exchange.
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March 14, 2019, 06:49:19 AM |
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The only thing the blockchain technology will benefit from Facebook coins is their help in spreading the news about blockchain technology to their billions of online users. I see no benefits in their tokens what's the utility of the token going to be? To me it is just another act of greediness and waste of money. We have numerous coins already why not just adopt or buy the company of one than introducing another shitcoin until the market.
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southafricadude
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March 14, 2019, 07:22:35 AM |
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And when facebook goes down...so does your money....or if your account gets closed, your money is gone.
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avikz
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Activity: 3066
Merit: 1498
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March 14, 2019, 08:27:18 AM |
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LOL!! I thank you for saying it as a "Digital coin" and not a "Cryptocurrency" because it is not a crypto. It is probably going to be a worldwide currency which is centralized to the core. And it is a proven fact that Facebook tracks your data, so you won't be able to hide your wealth! In a nutshell, it is going to be another digital currency system with Government-grade surveillance! No matter whatever facility they bring in along with this digital coin and no matter how flexible they make it, you can't just get the same features that a trustless network provides! |
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Naida_BR
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Activity: 980
Merit: 62
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March 14, 2019, 08:48:14 AM |
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The blockchain technology is not needed so this digitalization of facebook attempt.
I think that these websites are only trying to create a FOMO trend with these news. "Facebook coin" is not needed to be built on the blockchain. After all, it will be a centralized digital coin that will be used only for the operations in the apps that Facebook owns.
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incomefromcoins
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Activity: 336
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March 14, 2019, 10:27:43 AM |
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facebook coin is more or less a stable coin which is using for internal trading same like jp morgan coin so any financial institutions
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Kevin77
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Activity: 1652
Merit: 1057
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March 14, 2019, 01:15:00 PM |
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There is no f**king way it brings in NEW 19 billion dollars. First of all its not happening at all, it is not going to happen the way any of these news tells us it will happen. It will at best be a facebook coin that you can spend on stuff like advertisement and purchasing game fremium stuff and all that, nothing like actually be a shareholder of facebook or sorts, facebook is already on public and you can already buy facebook stocks so it won't be allowed to actually be a part owner of facebook thanks to the facebook coin. So, what do you do with a facebook advertisement and fremium purchase coin aside from actually using it for those things ? Nothing. Hence, it can't be 19 billion dollars to the company, it could be 19 billion dollars spend that used to be dollars but now facebook coin but it won't be a new 19 billion dollars. |
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BrewMaster
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There is trouble abrewing
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March 14, 2019, 04:18:16 PM |
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there is absolutely no reason why a social media company like Facebook would want to create a cryptocurrency and there is absolutely no reason for anybody to buy or use that cryptocurrency or better be called centralized token.
if it gains any value and if people invest in it, they would only do it as an investment in the "name of the company" as they would when they buy the shares of Facebook company on stock market.
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There is a FOMO brewing...
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The Sceptical Chymist
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Cashback 15%
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March 14, 2019, 04:48:57 PM |
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Overhyped. Facebook doesn't need to use blockchain for this.
Some of that article is Greek to me, since I don't use social media and don't really know what Whatsapp is, which they said was critical in the FB coin's success--but I tend to agree with you. It seems to have a whiff of desperation about it, and that's not surprising since Facebook's stock took a serious beating a few months ago. Whatever transactions they're doing with Whatsapp or Google Play could probably be done just as easily with fiat (or bitcoin or any of the hundreds of other cryptos in existence), and a FB coin just seems redundant to me. I can't stand them anyway, and not an insignificant part of me hopes this coin falls flat on its face and that their stock price drops even further as a result of its failure. It's gotten to the point where I don't know which company is more evil, FB or Google. Anyway, they appear to be jumping on the crypto bandwagon in name only, and far too late IMO. |
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BitBustah
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March 14, 2019, 04:57:40 PM |
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Overhyped. Facebook doesn't need to use blockchain for this. They can simply make a centralized database for currency transactions on the platform. It ain't going to be a permissionless network and surely can't have the same properties like Bitcoin.
$19 billion, if that's really happening, then is just a waste of money.
Exactly, blockchain serves no purpose for Facebook except ofr hype. They are trying to capitalize on the success of bitcoin. This will most likely be something similar to Reddit Gold which has no actual monetary value. |
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kryptqnick
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Merit: 1384
Join the world-leading crypto sportsbook NOW!
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March 14, 2019, 07:42:40 PM |
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LOL!! I thank you for saying it as a "Digital coin" and not a "Cryptocurrency" because it is not a crypto. It is probably going to be a worldwide currency which is centralized to the core. And it is a proven fact that Facebook tracks your data, so you won't be able to hide your wealth! In a nutshell, it is going to be another digital currency system with Government-grade surveillance! No matter whatever facility they bring in along with this digital coin and no matter how flexible they make it, you can't just get the same features that a trustless network provides! Yeah, it probably should not be called crypto, since its value will be tied to various fiat currencies (so not even a typical stable coin). The article does call it 'digital coin' in the article a couple of times, though. However, Facebook is likely to use blockchain for their coin which makes it harder to choose an appropriate definition. Yes, it's centralized and its value is not determined by the free market, but if it uses cryptography it should perhaps be called 'cryptographic digital currency' to distinguish it from stuff like PayPal. |
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daarul50
Legendary
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Activity: 1596
Merit: 1034
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March 14, 2019, 08:12:17 PM |
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If Facebook really uses the blockchain then maybe bitcoin will be eliminated and worse left because everyone will switch to using Facebook coins. I hope if this really happens it can have a positive impact on the development of cryptocurrency even though it endangers the existence of bitcoin in the crypto market.
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mangsitin
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March 15, 2019, 06:05:32 AM |
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If Facebook really uses the blockchain then maybe bitcoin will be eliminated and worse left because everyone will switch to using Facebook coins. I hope if this really happens it can have a positive impact on the development of cryptocurrency even though it endangers the existence of bitcoin in the crypto market.
Is it true that if Facebook coins exist, will it have a negative impact on Bitcoin? what is your reason so you say that if a born facebook coin can get rid of Bitcoin? whereas Bitcoin is the first Cryptocurrency that makes everyone want to make a new coin that mimics Bitcoin. |
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beerlover
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Activity: 2856
Merit: 1156
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March 15, 2019, 07:49:44 AM |
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"IF" investments stop flowing in.
When do you expect that investments will stop flowing?
Facebook coin is becoming overhype just because it is 'facebook' but if comparing with the other coins they don't have much difference. Facebook should should focus with blockchain integration of their platform through bitcoin instead of creating another altcoin.
Comparing Facebook coin with other coins actually has a lot big difference, hardly do you see where Facebook is not known, even to the most uncivilized countries, Facebook platform is just like GSM phone now that virtually everyone has and the introduction of their coincould be an eye opener for many people to the world of Cryptocurrency provided it comes in form of crypto. It is really a welcomed development and This step from Facebook will not only make Facebook coin more accepted than other coins but also make bitcoin more popular. |
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aad140386
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simply getting the job done
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March 15, 2019, 07:56:18 AM |
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It seems to me that the Facebook management just decided to support the HYIP, which is now around cryptocurrency. Pavel Durov creates his TON, many other companies declare the integration of the blockchain into their work. It is possible that the Facebook management just decided not to lag behind competitors and are considering the possibility of introducing the blockchain where it would be appropriate. Personally, I don’t like Facebook either because of their company policy and because they disclose personal user data. But unfortunately, while the world has no competitors in Facebook.
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slaman29
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Merit: 1212
Livecasino, 20% cashback, no fuss payouts.
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March 15, 2019, 08:09:49 AM |
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Why would Facebook need a coin to save it? The stocks are doing well. The platform is doing well. People who hate it have already left it. Those who don't care are still on it. So why are they so worried, right? Mark should just retire and stop bringing his own creation down.
Facebook coin will be like play coins. They might bring in millions but for sure not 19 Billion.
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rhomelmabini
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March 15, 2019, 08:22:10 AM |
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Well, let's wait for 2021 and if it happen or not just two scenarios will be possible and that's massive adoption on the coin if it's really a coin but I say it will be more as a token type.
Imagine, Facebook is known worldwide and just introducing it whenever you open their app or wherever browser you use to login, but per say it is only a hype with MZ makes to look he's not behind.
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