Facebook is raising money for Facebook Coin

[manfredmann]

I think they are seriously entered into this script of it and make the steps for the new cryptocurrency to  launch in very short time and I think their marketing strategy will be different than the other type of promotion and I think it will be silly possible to reach the people with huge attraction.

All crypto enthusiast, some.are greedy are eyeing on this for this is one of a good project that has been already operating and has a goof community all over the world. We could expect that there will be a good turn on its use but if facebook will change its platform like giving all users a wallet and a fee in every access then that is a different story. Users are used to access in facebook for free will go to another social media platform and will not used facebook.again.

[misterjo]

if facebook launches its own cryptocurrency, it is most likely to be centralized! What is the benefit of that crypto? ... will someone save their money in a platform where our data is not safe?

[airdropan]

if that true then its great news for cryptocurrency. Facebook has biggest social media member all the world. not so hard to collect fund there.

[Quintrix]

Indeed new times is going to come once Facebook releases their own coins, this can fast track adoption of Cryptocurrency, even those who are no into cryptocurrency, they will pay attention to this new development on development, it's good if they are going to do airdrops to all of their users.

[traderethereum]

All we can do is just waiting for the next step from Facebook, and if they are really serious with the project, then they will see hard works and will their teams to spend more time to make sure the project will run. I think many people believe with the Facebook Coin because they are one of the biggest social media on the internet and they can get a lot of people for their members.
But personally, I am curious with the Facebook Coin itself, and I hope that it is different than the other coins so the Facebook coin can compete with the existing coins.

[LUCKMCFLY]

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.

Well we must wait if the new currency of Facebook will be a cryptocurrency or will be a token, for the market capitalization I do not doubt that it is high, due to the number of users that moves the facebook.

And the money collection for facebook I do not see it necessary for the simple fact that Facebook has a lot of money, I think Mark Zuckenberg wants to experiment and not miss the game with the Blockchain technology, so it is clear that it can not replace or compete with Bitcoin because it does not have any millionaire support that establishes it, in order to compete against bitcoin, but it will use its technology to increase not only the stocks in the Stock Market, but it will also raise money, very much to be able to execute any action that it has in mind.

[avonka]

Facebook is late in the game, but they have so much power and  strong customer base ( over 2 billion active users monthly) that whatever they do it will have big impact on the crypto market, hopefully on a positive way in terms of mass adoption.

[Golftech]

Facebook is late in the game, but they have so much power and  strong customer base ( over 2 billion active users monthly) that whatever they do it will have big impact on the crypto market, hopefully on a positive way in terms of mass adoption.

No, they are not late yet, crypto market still on it's infancy, fb knew about this and they are riding with it's popularity and begin at the moment where many people are aware now about this types of money, don't forget that the twins who created the FB was also a bitcoin millionaire, the team behind
FB will use the concept with already a high hope that their users will adopt this in time that they offer their own crypto coin for their services.

[normanderecho]

Wow! I just new about it, if this is reall it is really had a big impact into crypto industry, since we all knows how facebook already being hype by its used. Many had been used it already, so by raising their own crypto coin, for sure many will invest on it, but I don't beleive it will lead to replaced bitcoin.

[mistanama]

That is great because back in time, when facebook ban cryptoccurrency advertisement to their website and now they are trying to accumulate money for their own coin or cryptocurrency. It is a good sign that the big players or companies are now getting into the world of cryptocurrency and they now realized the advantages of it.

[Soberb]

Lol the previous vocal of cryptocurrency is now bracing to embrace it and going to the extent to create its own digital coin. Anyway the news is too much good for the entire crypto community. It gives the message that cryptocurrency is being adopted world wide. Unlike in the past, people are growing aware of the value and importance of cryptocurrency and they are getting attracted towards it. Various cryptocurrencies are being accepted as a method of payment which has also added to its adoption.

[Sanford]

  Yes, this coin will definitely be in demand. For advertising campaigns in this network, such digital money will be useful.

[MikeyVeez]

They do not have enough money? Why they need money from external investors? It is so expensive to create another centralized sh.t coin?
But I am sure that they will soon realize that it will not work, they created something similiar few years ago (Facebook credit) and they had to cancel it because it wasn´t as successful as they thought.

[Karlinz]

Facebook has earlier shown their lack of support for crypto and a lot of enthusiasts are already vexed with the decision and their action. Actually people will still invest if they launch but will not be with the same amount of hype it would have received if it was earlier before their crypto ad ban. The only way they can gain relevance is by not trying to raise any fund but use their existing fund to distribute freely to their community and eventually launch in exchanges. But again I do not expect so huge from them

[dipeco]

Awesome news for the whole industry guys! I do not now if it is official already, but it seems like they are going to create this crypto and if they do, we will near the mass adoption in the fastest way possible.

[Jpti]

Facebook was much critical of cryptocurrency at a point of time. But now it is advocating cryptocurrency and trying its hand at creating its own digital currency. This is an interesting story and will surely bring ripples in the market of crypto once its plan is materialized. The crypto market should welcome the idea, which will help cryptocurrency at the end. Cheers, cryptocurrency is being widely adopted.

[Quantum907]

I hope the presence of Facebook coins can make crypto great again, of course Facebook has big capital to make their coins can skyrocket or replace bitcoin someday.

[craslovell]

I don't think this will be nearly as successful as people are making it out to be. I myself would never buy this garbage from Facebook. Zuckerberg should stay in his own lane on this one..

[jualidbitmixer]

Any update on this one? Because if this is completely sure and still on going it would be big. Cryptocurrency will become bigger if facebook really raising money for facebook coin. If this project facebook coin success, i'm sure other big company will trying this too, make their own coin and maybe use raising money too.

[Natalim]

I don't think this will be nearly as successful as people are making it out to be. I myself would never buy this garbage from Facebook. Zuckerberg should stay in his own lane on this one..

Facebook is popular, they can sure raise a big money and this coin is one of the high volume coin if traded in crypto exchanges.
I'm not really familiar on how this coin will be use as I myself is not gonna invest on it, I maybe trade but I'm sure they have big investors already for this coin and it will be sold out fast.