Facebook is raising money for Facebook Coin

[lyhue]

Yesterday I created a topic here about Facebook Coin: https://bitcointalk.org/index.php?topic=5129560.20

After that Nathaniel Popper, a NYTimes reporter that covers crypto, said Facebook is raising money for its crypto project. Seems like I may not be wrong in my article.
Here and here:
https://twitter.com/nathanielpopper/status/1115331482384388098
https://coingeek.com/facebook-seeks-1-billion-investment-from-vcs-for-its-crypto/

I can't see other reason for Facebook to be raising money if its not to back its own decentralized crypto. FB wouldn't need to raise to issue a stablecoin.
Everybody in the original topic said FBCoin couldn't replace bitcoin. While I agree that the ultimate store of value will remain BTC, I think FBCoin could easily surpass BTC in daily usage and, therefore, market cap.

I ran some numbers and I think its possible that FBCoin launches with around 300B USD market cap and reaches 1T in a few months. I'm comparing to HKD M0/M1 and HKMA's stability fund.
But I think FB should raise at least 10B to cover the initial stage of running a "sovereign" fund to stabilize the currency against extreme volatility, like I wrote in my article: https://medium.com/blockchain-positive/how-facebook-coin-can-help-billions-of-people-by-not-being-a-stablecoin-d780b6579e93


Brace yourselves, new times are coming.

[mindrust]

Too late. They most likely missed the crypto train. Banning crypto ads and accounts damaged their reputation and it wasn't already in a good shape before it.

It will still create some hype however. It still has a name which is worth millions of dollars. Just a name...

[incomefromcoins]

Facebook is late in the cryptocurrency industry but when facebook start their own coin everybody speculating about their own mind on facebook coins future i personally feel facebook coin is just a centralised coin they are developing for their future

[@baoli]

This will be very good for Facebook having to tokenise their space. Facebook has improved over time especially the aspect of adding reward for posts. With a digital asset it will be easy to have a global outreach.

[znation]

In the end, Facebook started to make their money, but I think Facebook is doing it a bit late for this money-making industry.

[Pet240]

This ought to have been done before this time, i do not know why it has taken Facebook such a long time, because people have been anticipating for it.
Then i do not expect the platform and neither do i expect the coin to be decentralized, rather it will be centralized considering its organization.

[magpie_lover]

like I wrote in my article: https://medium.com/blockchain-positive/how-facebook-coin-can-help-billions-of-people-by-not-being-a-stablecoin-d780b6579e93

Decent article, but remember this is not the first time Facebook has come up with something like this - Think Facebook Credits. It was, basically, a failed experiment. This time their focus seems to be on the global remittance economy and this system would probably enable users to send money through Whatsapp & Messenger. But don't think this is going to be easy as most non-first world countries (recipients of highest remittances) have a huge money laundering problem & their regulators wouldn't want something like this happening on a massive scale.

[mrdeposit]

Too late. They most likely missed the crypto train. Banning crypto ads and accounts damaged their reputation and it wasn't already in a good shape before it.

It will still create some hype however. It still has a name which is worth millions of dollars. Just a name...

And this name is enough to reach the desired position. In this case, everyone is looking for more profitable money and fbcoin began to look like one of them. Probably a new hype on the way.

[Indamuck]

Too late. They most likely missed the crypto train. Banning crypto ads and accounts damaged their reputation and it wasn't already in a good shape before it.

It will still create some hype however. It still has a name which is worth millions of dollars. Just a name...

The name alone will generate so much hype, their past actions won't even matter.  They could raise hundreds of millions if not billions if they really wanted to.

[sctunter]

if that true then it's good for cryptocurrency
facebook have biggest community though then when they join crypto that gonna make crypto more growing
also mark zuck isn't someone new on internet this day. can't wait for that

[smyslov]

It's a welcome development, they should have made this earlier, but it's not too late, they are a giant in their field, whatever they do will become a huge success and that includes being a part of cryptocurrency, it's going be great news and people will be more aware of cryptocurrency, because of Facebook.

[shamc]

Don't they have enough money themselves to start this crypto project! Perhaps they are trying to catch up for all the time they missed when they banned crypto ads

[kodtycoon]

facebook yeah I'm not gape that he can raise a lot of money, I don't know what happened to make Facebook coin sure that it will surpass Bitcoin, by the way I'm not interested in it as there has been an unpleasant bad statetment from him about Bitcoin

[thaliaand]

It looks like it's a little late. But with a company as big as Facebook and a huge number of users, the potential to catch up in the world of crypto and blockhain is very large. Meanwhile, with the presence of Facebook in the crypto domain and the blockchain it will have a big impact in disseminating information about the crypto world globally, considering the huge Facebook community.

[Adriano2010]

I also think is late, maybe no more people will start invest on a new coin, as most people focus on old coin, like Bitcoin, Ethereum, coins which show that can grow, and give profit over time.

[drumamat]

Too late. They most likely missed the crypto train. Banning crypto ads and accounts damaged their reputation and it wasn't already in a good shape before it.

It will still create some hype however. It still has a name which is worth millions of dollars. Just a name...

Yes,I agree, why was it necessary to put restrictions for advertising of crypto-currencies on its own platform?To then create your own cryptocurrency?).I recently went to the circus and I have a feeling that I'm still there.Let's see what will happen next,but in any case Facebook will launch its own cryptocurrency.

[Rinso]

I also think is late, maybe no more people will start invest on a new coin, as most people focus on old coin, like Bitcoin, Ethereum, coins which show that can grow, and give profit over time.

people who start invest on a new coin they will invest just not for long time, they just wanna get low price on ICO 

[okala]

Facebook raising found for it token make it unstable coin because from past events all stable coin are developed by the team and sold out to the public but Facebook raising found for it coin is unacceptable and at that has made them not stable coin, there have already miss the train.

[The Cryptovator]

Perhaps FBcoin will surpass bitcoin for daily uses. But I don't believe it would be surpass by value. It might not happen what we are expecting. We should not super-enthusiastic regarding FBcoin. Bitcoin is mother coin and it will remain in my opinion. I am not sure how FBcoin will recognize on crypto-world. Its true it would be a potential coin and a positive thing for crypto-world, but it doesn't mean it will king of crypto coin. Once Coinpayment has created CPS I have seen lot of comment it will be 10$/100$ and so on, but eventually it is worthless. Even you can't sell anywhere including Coinpayment internal exchange.  So I not super-enthusiastic about FBcoin.

[danielchris]

Although Facebook has lot of users in the world.  It's good idea for Facebook owners to make Facebook coin.But l think this decision taken by fb owner is to late,Whenever different types of currencies are in the market like crypto currency etc.so l think how can face them .