Facebook is raising money for Facebook Coin

[demenBTC]

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

This delay is because previously Facebook strongly opposed crypto ads on Facebook, I think this is a good idea for Facebook to make coins as stablecoin

[proTECH77]

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.

The only advantage this Facebook coin will bring is global adoption of cryptocurrency and am happy to see them raising fund for their coin. According to OP, Facebook coin will be decentralize and may be able to measure up with Bitcoin. Bitcoin be the mainstream of the blockchain will still be operating as the king of cryptocurrency because of it dominance.  

[Bttzed03]

For a while there I thought you were referring to this new feature of facebook


Anyway, the platform has millions of users so those numbers might actually happen. I just wish all the hype will be gone and they will just launch their own crypto.

[funchiestz]

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.

This issue has been on the agenda for a long time, but as far as I know there is no official statement from Facebook! Just a gossip until this official release comes.

[asder250]

Why the hell they need 1 billion USD? And they are looking for a money? They do not have enough?
Come and invest into another useless centralized sh**coin which termed itself as a cryptocurrency. 

[Boombull]

If this is true because am yet to read about it in any mainstream media, then it is a good omen for the industry and it will benefit the entire industry and change the image of cryptocurrency globally and increase wider adoption of it.

[BitcoinTurk]

Facebook is too late to integrate this technology into its infrastructure and to extract its coin or token. Especially the fact that this process is in the period of bad market conditions and demanding high money outside of its own capital is another problem. Although I believe that it will be a successful project even if there are negativities in the market, but as I said, it is too late to integrate and enter into these technologies. If you think that the marketing department will work well and will create beautiful usage areas for this coin, it will definitely be a successful project.

[ttcsalam]

This is fantastic news for facebook users and all alternative crypto maker.Because facebook have biggest community though them so when they can join crypto market.
also mark zuck have good Merritt so if involve he can make a new discover.

[boltz]

Yes yes I heard this aswell but I in my opinion their action is coming too late. I'm curious tho of how will they promote Facebook Coin and what purpose does it serve because if it is only for facebook then it has no real use outside it. Facebook must think well before they will release all the info about the project.

[Little Mouse]

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.

If FBcoin can manage to be used as the most widely daily used coin, it will be a matter of time to surpass bitcoin because bitcoin is now mostly hyped because of investment, on the other hand, FBcoin will have the usage along with heavily invested coin since it is backed by Facebook, a giant in the tech area.

[pandanaran]

If this is true because am yet to read about it in any mainstream media, then it is a good omen for the industry and it will benefit the entire industry and change the image of cryptocurrency globally and increase wider adoption of it.

That's right what you say because the main goal is to build a useful and mutually beneficial industry. Maybe when compared to Bitcoin it's much different for its marketing capacity, but I'm sure something new must have different or better advantages. I strongly support the hard work of people in building something well-intentioned like Facebook that makes its own Cryptocurrency.

[amrulshare]

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...

it's not true that Facebook is late into the crypto industry, in fact the social platform is most widely used in daily life. This does not rule out the possibility that Facebook cryptocurrency will get popular after bitcoin with the magic touch they apply later.

[kindbtc]

I think fb has millions of dollars in daily ad revenue so does not make much sense to raise more funds for developing a coin for their platform, the reason may be that they just want to take their part of the ico pie and receive significant funds just like telegram did so looks like every one is jumping on board and this indicates the massive future ahead for crypto and blockchain tech.

[doycku]

I think fb has millions of dollars in daily ad revenue so does not make much sense to raise more funds for developing a coin for their platform, the reason may be that they just want to take their part of the ico pie and receive significant funds just like telegram did so looks like every one is jumping on board and this indicates the massive future ahead for crypto and blockchain tech.

Initially, I would like to know their real purpose, with which the facebookbook is trying to create his own personal coin. How they want to use the blockchain in this situation. If for providing better services and maintaining the confidentiality of all users. Well, then this is a serious argument. And if only to earn more money, then this is a very rash idea. TO

[stoat]

facebook is a silly company run by a massive twerp called mark zuckerberg. i wouldnt touch any coin they issue with marks'.

facebook and everyone involved wih it can die in a fire and the world would be a better place for it.

[CjMapope]

I think fb has millions of dollars in daily ad revenue so does not make much sense to raise more funds for developing a coin for their platform, the reason may be that they just want to take their part of the ico pie and receive significant funds just like telegram did so looks like every one is jumping on board and this indicates the massive future ahead for crypto and blockchain tech.

ya telegram raised like 3 billion dollars or some shit
it was a crazy amount anyways
i bet FB was pissed when they saw that and now they want in on ICO craze

My problem i see is most people dont understand immutability, and especially since banks make it seem like when money gets stolen from you its just magically replaced in your bank : /

[Gabmot]

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...

Believe buddy, when i say this, what you mentioned above won't in anyway do any harm to facebook doing an ICO. In fact,  it will instead increase the popularity of facebook all around places over the world.

[asdlolciterquit]

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.

that number in my opinion are simply too high! 300 billion? 1 trillion? no way.
i have one big question for you: what's is the purpose of this facebook coin? why anyone should use it?

[jjbanks994]

Do we actually think it will be decentralized? If anything it will be a internal use of crypto imo or a stablecoin

[dvdrewritable]

I think FB coin will never be able to cross Bitcoin because there will be a position and there is no way to overcome Bitcoin yet. But the mother of the market is from Bitcoin since the day it started. So whether Bitcoin is more popular than FB coin. I think there is no coin to cross the Bitcoin. Whether Facebook is popular or not, FB coin can not even go near the side because it is too late, Facebook has come in a the crypto market.