Facebook is raising money for Facebook Coin

[michellee]

So you are telling us this is the coin that could possibly beat Bitcoin with 1 Trillion marketcap in just a few months what Bitcoin has failed to do, this is over shilling the coin, not because Facebook is a huge company that they can do this easily, we still have to see this.

I don't think Facebook can beat Bitcoin because they need to compete with the other strong coins like ethereum, dash, monero, litecoin, and the other coin in the 10-20 coin list. Besides that, Facebook is not the only coins that want to be the number one in the cryptocurrency list, and they need to realize this. Still, Facebook has much time to reach their goals, and if they are serious about continuing the project, maybe they can beat the low coin price first and then start to rise slowly.

[steveabrahams]

Wow a good news there, but to beat bitcoin? I'm not sure about that, even if that happen, it will takes years to beat bitcoin. The first thing is they need to take an action first, no more news and no more gossip. Need an action a.k.a make it real. I just read the news and i hope it will be happen very soon.

[BADBITCH]

I’m not sure Facebook is actually raising money for Facebook because the money is available
But they are correcting Past misdeeds; canceling their crypto ban law would be a step on the right path

[Coltpython]

Facebook wading into the cryptocurrency market is a very good one. I still hate them for banning crypto related ads back in 2017 though. But the thoughts of the possibility that FBcoin will bring is endless. Many companies will be forced to buy it which will rapidly shoot up the price.

[judyrob]

Good news and it will add to the community but to beat bitcoin is not as easy as turning the palm of the hand, many things must be learned. Although the FB community itself is bigger than the bitcoin community, and this is a challenge that must be done so that investors can contribute more, keep in mind that bitcoin remains superior.

[SaRmY]

Well, the question of when the bull comes to the cryptocurrency market. The answer is simple. When large corporations come into play. Today, all social networks have decided to use cryptocurrency. What do millions of users around the world. What will put a new beginning of the development of technology.

[Ranly123]

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.

Having FB launching their own coins is a good idea but I am asking, how could investors use this platform in a decentralized way? Is it that their coins could be used to have a profit share from their income?

[udidrone]

Facebook was late with its Facebook Coin.It is unlikely that it will be popular and gather investors. Another useless coin.

though they are a bit late to introduce their coin but don't forget the fact that they have many users in this platform. adoption of their coin would be fast and easy because it encompasses a large part of the community at all levels, rich or poor, all types of individuals, different races and so on. if the fb dev team will make their cryptocurrency easily understood as like an idiot-friendly coin, then the adoption will spread like wildfire. many people are still ignorant how to deal with crypto so creating this fb coin might gain more ordinary users and educate them how crypto coin works.

From what i see maybe facebook use their coins to do transaction in their platform. In other side, actually it is good because they have their platform first and then a coin made. Because some developer only think to make their token/coin first before have a platform to use it.

The Facebook strategy is indeed quite good, with so many communities it is not difficult for the development of FBcoin. Even though there are many investors who are not interested, there will be a lot of migrants who are more curious and will contribute in it. The success of FBcoin will occur but I don't think it will beat Bitcoin.

And if they are success, maybe will be good for crypto community. Because what we need actually is something that can make crypto adopted and make people think positive about it. And of course, it will always be altcoin and bitcoin still center of crypto.

[BlackFor3st]

The article is very promising and I am very excited that facebook especially the CEO is very interested in launching it's own FBCoin.
I have read also in some news that Facebook CEO is starting to raise a money for it's coin to launch.

If you are talking about 10B usd, I guess it's kinda big but this kind of money is not possible to raise by facebook. This will be another journey of crypto currency, I love bitcoin but I would like to see also what FBCoin is capable of in the future.

[r_delossa]

It does not matter what they did before. If they are going to launch their own crypto currency, it is going to be a first mover and the first signal for the mass adoption. I hope this is true and not just another fake news.

[omone1]

I thought they have enough money and manpower for the project start up. Raising fund is still not bad. I pretty doubt the dialy usage of the Facebook Stable-coin will surpass that of the bitcoin. The numbers of persons using bitcoin are just very much and still increasing. Persons will always have more trust on the bitcoin than any other altcoin. If the Facebook coin is to be traded in the coin market, it's going to have a bitcoin trading pairing. Bitcoin will always remain the king of them all.

[zissmieus]

I have read about FB news developing their own crypto a year ago, but since then there has been no more information. But if FB can develop about crypto they still have a lot of policy and legal difficulties in many countries. They need to perform step by step more firmly, FBcoin can be a good solution for fanpage advertising services, stream games and many sales services in the big community. I really look forward to FB crypto announcements

[logisticalmother]

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.

it is true that today is indeed difficult to believe in new coins because they come together and very much makes a lot of people confused I am also more interested in old coins because I am sure the old coin also has great potential that can be released someday for sure.

[Terrmit]

Oh from them too much activity. I think the social networking race has already begun. who can win? We will know soon. I do not know it seems to me that telegrams can bypass the FB.

[poptok1]

Wait what? Fakebook is issuing FakeCoin?!
shut-up-and-take-my-money.jpg
But seriously, scrolled through this topic quickly and only a handful of people find this lame and laughable.
Such huge company, so much money and... a fundraiser  wow
It's another subversion people, now they are after Satoshi's Logos... ridiculous   

[Peruvyn]

Nice to read about this, it's a great initiative but this is what they should have done since instead of trying to limit the influence of Crypto and blocking crypto adverts on their platform on flimsy excuses, anyway it is not too late for them and this will be beneficial to the entire industry

[Malam90]

After a long time, Facebook realized that they are far behind in virtual world although they are in top 3 social medias in the world. The have realized and have come forward to the crypto to raise money to expand their motives. I welcome facebook and it is a good sign of mass crypto adoption in the upcoming days.

[harrypotpot]

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...

What might happen more if they adopt bitcoin as their currency? And that's the point. Why not adopt bitcoin as their currency? they don't even need to create a new coin for the sake of their name, partnership with a crypto with also have the crunchy name will be a good thing to wait up in the crypto world and the social media.

[Gudhal Untu]

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...

They made a big mistake because they were banned crypto ads, now they want to make coins so it's like a funny thing, maybe this will be a failed project for them.

[awakpane]

In my opinion, Facebook information to collect money for coins is not entirely true. We really hope that Facebook can raise money for Facebook coins.