Facebook plans to launch 'GlobalCoin' currency in 2020

[KlepZ]

If Facebook launches its own crypto, it will probably not call it cryptocurrency. It will brand its money according to whatever the marketing team thinks will sell best. In fact, it may even include PR talking points along the lines of “bitcoin is unregulated and not secure. Our token simply uses the same technology but in a safe, compliant, private way. We don’t do cryptocurrency. Bitcoin has a tarnished brand and other cryptocurrencies are unknown. Facebook won’t change that.

[wuvdoll]

We still have a lot of time before it all starts, I don't know how big facebook will get in the future, I don't know if its another google or amazon and what not, they do have the control of facebook/whatsapp/instagram right now but so far that feels like it is just some stuff that are unrivaled on their stuff and as soon as another competitor comes up they will be lost.

Facebook is no longer making THAT much money from facebook, its still something and its still big but its not on the momentum it used to be, however they made up from it on whatsapp and instagram purchase easily. If another chat application and a big huge social media app comes up then facebook may go south. In which case global coin will as well. Isn't it too risky to just invest into something that may in the future drop a lot in value?

[Wingzcrypto2018]

I am Just see a news.
And i am existing for it.
Facebook like to launch a cryptocurrency!

 

I think this project successful easily. Becuse, Facebook is most public social site. Many many people use Facebook for communication.  

 

I see this news on: BBC News
Link: www.bbc.co.uk/news/amp/business-48383460

I don't know if this is a great news to all crypto enthusiast. If this is true that global coin would be the Facebook digital own coin in the first quarter of 2020, I saw two things that may happen. Once globalCoin will be launch I hope this will not be the one will use for payment to anyone who will use Facebook. I am hoping that the founder of FB will not oblige the Facebook users to buy Globalcoin for them to enjoy the usages features of Facebook. Where without global coin, the FB users can't able to use or open their Facebook account. I hope this will not happen and I am hoping that I am wrong with this thoughts of mine. This is just what came into my mind only, but it is all of my way of advance thinking and imagination too, its some kind of a spoiler. 

[Nellayar]

Nice idea. Since Facebook is one of the most accessible social media networks. There are millions of Facebook users, that means there will be a wide access for crypto world through global coin. Just hoping that this will benefit the Facebook user as well as the crypto at all means.

[jazmuzika217]

I am Just see a news.
And i am existing for it.
Facebook like to launch a cryptocurrency!

 

I think this project successful easily. Becuse, Facebook is most public social site. Many many people use Facebook for communication.  

 

I see this news on: BBC News
Link: www.bbc.co.uk/news/amp/business-48383460

Its too early to celebrate Yes Facebook is the most popular, accesible social media but we cannot know if this new can bring a good impact in the market but its nice to see Facebook enter in the world of digital currency for the successful of their project we cannot guarantu take note theres a lot of good concept and well know project in the market.

[Yutikas_11920]

Nice idea. Since Facebook is one of the most accessible social media networks. There are millions of Facebook users, that means there will be a wide access for crypto world through global coin. Just hoping that this will benefit the Facebook user as well as the crypto at all means.

when facebook has cryptocurrency technology as one of the alternative payments, it will have a good impact on the prices of all cryptocurrency because surely cryptocurrency demand will increase.

[coin-investor]

I am Just see a news.
And i am existing for it.
Facebook like to launch a cryptocurrency!

 

I think this project successful easily. Becuse, Facebook is most public social site. Many many people use Facebook for communication.  

 

I see this news on: BBC News
Link: www.bbc.co.uk/news/amp/business-48383460

I don't think Facebook will and can convert it's billion of users to use Cryptocurrency in their first year after the launch, with so many members  huge community they have to educate first on how their coins can and will be used, we still don't know what kind of algo they are going to implement is it in Bitcoin core or on Ethereum algo.

[joshy23]

Nice idea. Since Facebook is one of the most accessible social media networks. There are millions of Facebook users, that means there will be a wide access for crypto world through global coin. Just hoping that this will benefit the Facebook user as well as the crypto at all means.

If this coin will bring win win situations between FB users and crypto investors, it will be a good project to follow but if this will only be a centralized
projects that will only leads Mark to control and manipulate this projects then it's not good for investment.

[The Sceptical Chymist]

And i am existing for it.

If you mean you're "excited for it" I pity you, and if you ever buy Facebook's shitcoin, I will double that pity. 

I wouldn't go so far as to say only suckers use Facebook, because that would be insulting people I know who aren't suckers, but man....people who use it just don't value their privacy at all.  Facebook is probably worse than google in that respect, and I try not to use google's services when possible, but they're everywhere.

As far as FB's coin goes, I'm not sure how much of a splash it's going to make.  As I said in another thread, the best thing I see coming from it is that it might get people interested in real cryptos like bitcoin.  I don't know many details about it, though.  At the very least it'll be interesting to see how it works, if it catches on, and if it's just another privacy-destroying tool Facebook is going to add to its armament.

[ene1980]

If you mean you're "excited for it" I pity you, and if you ever buy Facebook's shitcoin, I will double that pity. 
I wouldn't go so far as to say only suckers use Facebook, because that would be insulting people I know who aren't suckers, but man.

I am not personally using any social media platform right now, i used to have an account but not anymore simply because of the privacy factor as everything about their practice is public on how they treat the privacy and security of their users. There is nothing wrong in using these social media platform if you do not care about your privacy and strangers peaking through, but i will not use anything they come out with and the virtual coin they will come up will be another horse shit just to collect more information who invest in the virtual market.

[Kemarit]

It looks like it will be used outside the Facebook network. Issuance and redemption will obviously be centralized just like with Tether or the Gemini Dollar, but they are in discussions with Coinbase and Gemini so they can list markets for GlobalCoin. So obviously people will be able to transact outside of Facebook.

So the big question is, do they plan to launch their stablecoin on a decentralized network like Bitcoin or Ethereum? Or a completely private, permissioned network validated by Facebook?

I'm leaning towards the latter. I'm thinking that this could be just private in the very beginning as Facebook will just test the waters and see how the people will react. If they see that people might be interested on something like a decentralized network, they eventually they will succumb to the crowd and open it for future investors. But for now, I don't see it happening, they don't want to openly go against bitcoin or any other particulars like stable coins.

[Netnox]

It is too early to debate about the amount of coins in the pre-mine and ICO prices, but I have a feeling that the pre-mine amount will be really large. And they'll almost certainly don't go for the PoW mining, giving the excuse that it is not environmentally friendly. In the end, it will become just another fiat payment system, like Paypal and Skrill.

[princesspoppy]

I am Just see a news.
And i am existing for it.
Facebook like to launch a cryptocurrency!

 

I think this project successful easily. Becuse, Facebook is most public social site. Many many people use Facebook for communication.  

 

I see this news on: BBC News
Link: www.bbc.co.uk/news/amp/business-48383460

If it is true that Facebook will launch their cryptocurrency which will be called GlobalCoin, cryptocurrencies will be promoted and gain a lot of attention from investors as well as ordinary people who would love to involve themselves with it. The only concern here is, will the GlobalCoin earned by the account owner will be in private or public, and how sure will it be to be safe from being controlled and manipulated by Mark Zuckerberg and any other people who would have access to such accounts.

[wahyu wida]

It looks like it will be used outside the Facebook network. Issuance and redemption will obviously be centralized just like with Tether or the Gemini Dollar, but they are in discussions with Coinbase and Gemini so they can list markets for GlobalCoin. So obviously people will be able to transact outside of Facebook.

So the big question is, do they plan to launch their stablecoin on a decentralized network like Bitcoin or Ethereum? Or a completely private, permissioned network validated by Facebook?

I'm leaning towards the latter. I'm thinking that this could be just private in the very beginning as Facebook will just test the waters and see how the people will react. If they see that people might be interested on something like a decentralized network, they eventually they will succumb to the crowd and open it for future investors. But for now, I don't see it happening, they don't want to openly go against bitcoin or any other particulars like stable coins.

I agree, they seemed to be testing to get data on Facebook users' interest in cryptocurrency. of course it is inseparable from their business strategy in reading business opportunities. we know that the coin is not as fast developing at the moment, and as if it hasn't been done seriously

[beerlover]

What exactly is the motive for Facebook creating Globalcoin? Is it part of the new world order disguised under cryptocurrency, some of us just want to make legitimate money, without an association with demonic activity. Thanks

Just my thoughts, they banned crypto ads and now they are about to lunch their own coin. It seems banning crypto ads because of scam thing or whatever is just an alibi. So they won't have any other ads aside from their coin that users can see. Hmmm whatever their real reason is, this might add a good result in crypto world.

Lol, you should know how Facebook operates before, they just don’t want people to stay above them or anything that will make other social media more popular and prior to their ban, we have some other social media platform who were already using the blockchain technology, which I believe must have threatened them.

I learnt that they have quite bent their policy now that they are planning on launching their own cryptocurrency using the blockchain technology, but I am still keeping my fingers crossed to see how the whole idea will go since they cannot fully release a DAPP system.

[Lawrenzoo]

What exactly is the motive for Facebook creating Globalcoin? Is it part of the new world order disguised under cryptocurrency, some of us just want to make legitimate money, without an association with demonic activity. Thanks

Just my thoughts, they banned crypto ads and now they are about to lunch their own coin. It seems banning crypto ads because of scam thing or whatever is just an alibi. So they won't have any other ads aside from their coin that users can see. Hmmm whatever their real reason is, this might add a good result in crypto world.

Lol, you should know how Facebook operates before, they just don’t want people to stay above them or anything that will make other social media more popular and prior to their ban, we have some other social media platform who were already using the blockchain technology, which I believe must have threatened them.

I learnt that they have quite bent their policy now that they are planning on launching their own cryptocurrency using the blockchain technology, but I am still keeping my fingers crossed to see how the whole idea will go since they cannot fully release a DAPP system.

They are just using this coin thing to create more hypes and awareness, they know they might not go too far with this, because it's not their field.

[akela04]

This news has long been known, but it is still nice to once again talk about this stunning news.  GlobalCoin, will allow 2.4 billion users of the social network to monthly transfer dollars and other international currencies into digital currency. Then they can be used to buy things on the Internet, shops and other outlets or to transfer money without having to set up a bank account. This is just incredible!

[b3llsf1l3s]

And i am existing for it.

If you mean you're "excited for it" I pity you, and if you ever buy Facebook's shitcoin, I will double that pity. 

I wouldn't go so far as to say only suckers use Facebook, because that would be insulting people I know who aren't suckers, but man....people who use it just don't value their privacy at all.  Facebook is probably worse than google in that respect, and I try not to use google's services when possible, but they're everywhere.

As far as FB's coin goes, I'm not sure how much of a splash it's going to make.  As I said in another thread, the best thing I see coming from it is that it might get people interested in real cryptos like bitcoin.  I don't know many details about it, though.  At the very least it'll be interesting to see how it works, if it catches on, and if it's just another privacy-destroying tool Facebook is going to add to its armament.

Yes this is very likely to occur. I even think of the functions of Facebook by presenting coin coins like this, I think people are more than enough to use all the features of Facebook till today, and the combination of crypto and social media I think are additional ideas that make things worse. If this things really happen, they might already ruins their own platform.

[Finestream]

And i am existing for it.

If you mean you're "excited for it" I pity you, and if you ever buy Facebook's shitcoin, I will double that pity. 

I wouldn't go so far as to say only suckers use Facebook, because that would be insulting people I know who aren't suckers, but man....people who use it just don't value their privacy at all.  Facebook is probably worse than google in that respect, and I try not to use google's services when possible, but they're everywhere.

As far as FB's coin goes, I'm not sure how much of a splash it's going to make.  As I said in another thread, the best thing I see coming from it is that it might get people interested in real cryptos like bitcoin.  I don't know many details about it, though.  At the very least it'll be interesting to see how it works, if it catches on, and if it's just another privacy-destroying tool Facebook is going to add to its armament.

Yes this is very likely to occur. I even think of the functions of Facebook by presenting coin coins like this, I think people are more than enough to use all the features of Facebook till today, and the combination of crypto and social media I think are additional ideas that make things worse. If this things really happen, they might already ruins their own platform.

Yes.This will surely happen if they will put this into real action.A lot of people will be exposed to this coin because facebook nowadays would be the best outlet for majority of the people knowing all of us are always updating our own account.But if this coin falls,then it will surely might affect the image of facebook.

[Shenzou]

I am Just see a news.
And i am existing for it.
Facebook like to launch a cryptocurrency!

 

I think this project successful easily. Becuse, Facebook is most public social site. Many many people use Facebook for communication.  

 

I see this news on: BBC News
Link: www.bbc.co.uk/news/amp/business-48383460

Well i honestly think that it is highly overrated and over hyped, do we really need a coin to use on Facebook, Instagram or wahtsup, sure they are popular and it will think that it will be successful  at first because people know that facebook has already an wide established number of people, but people will realize that it will be kind of useless, i think that this is an attempt of make huge profit from the company and ride upon the idea of making a coin, but it will die out after a couple of months after its launch.