Facebook is raising money for Facebook Coin

[shirackjs]

Does Facebook need more funding? I find this strange but I will be happy to read Facebook’s white paper. Hopefully, Facebook’s move will attract and educate more people about crypto.

[FanEagle]

Does Facebook need more funding? I find this strange but I will be happy to read Facebook’s white paper. Hopefully, Facebook’s move will attract and educate more people about crypto.

Facebook has a very large community, if not the largest amongst all social media platform, their coin will really go a very long way in the cryptocurrency world and I see it probably becoming the second largest coin in the whole world displacing Ethereum of its position but I really doubt if it has the power to do so to Bitcoin, Bitcoin is mostly number one choice of any investment when it comes to cryptocurrency, they trusted more in BTC than any other coin, when Facebook finally releases its coins which we are all waiting for, I am sure investing in FB coin will also have a way of boosting the value of BTC if its being paired together.

[GregH37]

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.

Failed project for Facebook? Do you think people are interested in pay back for something that will eventually benefits them.

Facebook already has a name, and if peradventure they truly announce their intention on creating a coin, a lot of people will be happy about this development, at least now that they have joined in the adoption stage too, they will have no reason to ban other ones, people are strictly interested on what they can benefit and not what Facebook stood against, I was not happy too during those time they were banning some crypto accounts but if I see their coin now, I will invest massively in it.

[darewaller]

Facebook coin doesn’t even need much campaign for it to actually be widely known, Facebook is the campaign itself and its community is more than enough to shoot its coin to the moon.

Facebook might also end up operating on a less volatile market since it is going to be created for utility purpose within its community, but I strongly agree with you that despite all the strength that lies in Facebook coin, it cannot still overtake BTC, Facebook coin can only work as utility coin within its community while Bitcoin crosses across all communities and used for payment generally, since Facebook coin will be limited to its product payment operation alone, it will never be a threaten to bitcoins hence raising funds and all are nothing to me.

[ePesoInitiative]

Facebook is not raising money for a coin. It is the dominant social network and billions of dollars in profit. In fact, their MO is to buy up existing small cap companies witha lot of potential. So it's bullshit to hear they are fundraising for anything actually.

[ifykiki]

If this is true then it will be so huge but I feel Facebook is late, if they had come up with this like mid 2017 to mid 2018. They would have been cool. But with the majority of investments leaving ICO investments, I can't say

[GunsLair]

Yes, I read that the issue of the coin is expected in the next six months. Let's see, what will come of it. At least, Facebook has a big advantage - it is a huge audience that will most likely support the release of cryptocurrency.

[Cat Coin]

Facebook and other teams will still come to monetize via Crypto. blockchain Technologies are the future. Therefore, we are waiting for a lot of amazing things. Once acknowledged as the official Cryptocurrency of the power, it's a breakthrough.

[d1ceplayer]

Wait a minute, are you kidding me or are you saying the truth because if they are going to do that, it would be very unprofessional because since the beginning of us hearing about this news, we have never seen an official announcement from facebook confirming that they are going to create their own coin and they have not make a statement to deny it too that means mark is really working on it, though I don't know what kind of coin they are trying to create, whether they are creating a digital coin for their purpose or a blockchain coin.

[chocopapaya]

I don't know just applying common sense makes this all a little untrustworthy.

First off, why would facebook need to fundraise in order to create their own coin?
They certainly have enough capital.
Perhaps they are trying to grow a community?
But, don't they already have the largest online community in the world?

Blockchains cost very little to make.
Anyone can make it, the technology is open source after all.
IT would take very little development and investment time for them to come up with their own.

Also, what would be the purpose of FB coin?
Transactions don't need the blockchain.
Blockchain is for open sourced, decentralized, anonymous transactions.
Kinda goes against facebooks centralized business model yeah?

[MUG1WARA]

Facebook is indeed late in starting cryptocurrency but with very large Facebook community I think Facebook will quickly catch up with them, we can only see what will happen on next few years

[playboy654]

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.

I think they had still the chances to get the success for their cryptocurrency but it take some time to reach in the centre of the people but once they get involved with their definitely accepted as like the previous cryptocurrency.

[beerlover]

I have not really catch a glimpse of where and how they are raising the fund, which means are they using to raise the fund and where on their site its stated, are they raising fund through ICO or IEO, we need to know this.

But, if it’s true that they are raising fund for their own coin, it will really be a very big project that will surely be accepted by many people and they will get big investors, Facebook has overtime grown a very large database and just an announcement is enough to get the fund required from there users that are mostly active 2 hrs a day. So, I am really eager to get more information on their modes of operations.

[digitalblock]

I like that around cryptocurrency begins the hype. And such a giant as Facebook is ready to popularize cryptocurrency. The most important thing people to hear about it)

[cryptowolfsu]

As I am aware they are raising $1 billion and it will be a stable coin. Facebook has 2.27 billion active
monthly users, so entering the market it will be a huge step towards mass adoption of crypto.

[A L I E N]

i think facebook coin will be strong enough to survive in bear market today, it will be one of top 10 coin because facebook have many user on their platform.

Funny that FB started to ban everything that was connected with Bitcoin. They decided to do it on purpose, as we understand, to promote their coin. Actually, I do not know much about it.

[novusordo]

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 will be a huge news likely to break the centralized world. It will send a huge positive message describing cryptocurrency and blockchain as truly the currency of the internet. This has been long coming. Mark Zuckerberg sister is already an advisor on another Crypto project called Pledgecamp

[mersal]

They are seriously entered into this field that's why they are doing this stuff like this and it will definitely be in a good investment and the coin was definitely been possibly more valuable when it launched and I think this also one of the important in cryptocurrency in the future

[Whosdaddy]

Can someone just please explain to me what Facebook coin will be used for ? Because I think it doesn't make sense to released a coin for Facebook ,if every one keeps saying Facebook coin will grow better are they saying that because of  Facebook popularity as a social media ? Will the coin be used for means of payment? Well we have thousands of coins for means of payment ,it doesn't make sense

That is right, Facebook has a very large community that will give them the necessary boost they need to push up to the top 10 coins in the market, if they come out as utility coin than strictly attaching it to Facebook alone, they might end up removing ethereum from its top list.

Ethereum has total of 35 million active wallets which automatically means 35 million active users, while Facebook has about 2.3 billion active monthly users, that is like one third of the world’s population which at least 5% of them are already into cryptocurrency, imagine what they would do with the remaining 95%, at least 50% of their users will get exposed to cryptocurrency through them giving the market capitalization a massive boost which they will make Facebook coin their priority aside Bitcoin, because BTC will always be the NO 1 priority

[burky155]

Lots of people saying that the facebook is too late for the saying welcome in to the cryptocurrency market but i don't agree with them. I believe that Mark Zucherberg was waiting the right time and finally dediced to came into crypto World. As far as i know the facebook crypto total worth 1 billions of dollar and no one invest that kind of Money when it was late. I am sure it's on time!