Facebook Officially Confirmed Their Coin! White Paper To be Out This Month!

[Indamuck]

IT doesn't look like this will even be a real cryptocurrency like bitcoin.  It will just be a centralized system of sending information without a real blockahin that has censorship resistance.  It will be completely controlled by Zuckerberg and Facebook, I'm staying the hell away from this.

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[sana54210]

Facebook’s head of financial services and payment partnerships for Northern Europe has officially confirmed the stablecoin according to this news. https://www.cryptoinformers.info/news/160-facebook-officially-confirmed-their-coin-white-paper-to-be-out-this-month

white paper for the token would be published on June 18.

But the coin will be tied to basket of currencies in order to prevent volatility.

Can we say mass adoption for cryptocurrency?

Well, that is good news at first, because it will really create so much awareness for the cryptocurrency industry, which is how it will create the mass adoption. For Facebook coin itself, it is more or less a stable coin like you said, and right now, not many people see the need to have or hold a stable coin, so they might get a few general investors for their coin, but where I can really guarantee the adoption to come from is through their business platform, most of their business people will see the need to use it for promotional purposes, many will hold it to make payment for most of the adverts they do place on Facebook.

It is hard to tell if a platform like Facebook can progress after all of the data farming and privacy issues that have been publicized this past year.

They can potentially be using it as a gimmick to draw in a new crowd and try to keep those who are leaving. Also they are preaching about using blockchain technology, but all they are doing at this point is adding  a few features and a token to their existing centralized platform.

They are not taking steps to secure their data or the privacy of their users.

The true intentions of Mark Zuckerberg and the Facebook organization will be discovered with time.

Of course they will go far, don’t forget that there database is not only full of Americans, and I can see that it is  America that discovered this data farming of a thing from them and has issue with it, which many of their citizens is also concerned about, but because their database is filled with people from different parts of the world, and there is chance that 50 percent of their users, has never even heard or know about this data farming.

So that will not even be a single barrier for them to become successful in their project, provided their coin is tied to a product that people will see as useful and have need for.

[ganeshramk]

There are lots of running rumours about this and huge expectation as well. Let's see whether Facebook fulfills suck. high expectations

[yvesp110]

Waw, I am very happy to hear this news. I really appreciate Facebook's steps to compete in issuing crypto currency coins. I can't wait to wait for the coins issued by Facebook and this coin is on the market. I believe the enthusiasm of the community to welcome this coin is very big. I predict that this coin will later become a competitor of crypto currency coins that are classified as great. I hope I can buy this coin on the market. I can't wait for this coin to be on the exchange site.

This is official now, facebook coins will be around towards the end of the year and this is not bad. They think it is going to give a hard time to Bitcoin but I doubt that. Bitcoin is the leader in crypto space but Facebook coin might make the transaction thing easier. But let’s see how it would go because there could be stuff about regulation and decentralization.

[tabas]

Can we say mass adoption for cryptocurrency?

Probable but I can see more competition is waiting ahead for these stable coin focused company. Binance will also launch their stable coin but it won't go along with USD back up but it's with pounds. I can't wait to see the reaction of the people especially those who have not been riding the crypto market since then. I want to see on how would they react about facebook's creation of a stable coin and what those skeptics would say then about this major announcement.

[Coinraptor]

This news is giving me goosebumps! Because crypto is getting accepted by all over the world. Day by day people is involving in crypto. Even the best social network Facebook is joining in the crypto industry with their own coin. I heard about the VK coin too! So, this is mass adoption! Our waiting will be over very soon, people will use cryptocurrency in open and everywhere.

[bitgolden]

If in the plan the coin will be tied with several currencies (stable coins) and with the aim of avoiding volatility, there may not be many interested parties. Actually I am interested and have had an interest in investing $ 700 in this Facebook project and will wait for its launch. But it seems like my enthusiasm is decreasing right now.

I am very certain it will be stable coin too and I am not so sure it will be suitable for investment since there won’t be so much volatility in it, so investment in this reject will really not yield so much profit. I will rather put that $700 in other coins that are suitable for investment, or use it to be trading Bitcoin instead, except maybe you are one of the people that use their platform for business, and then you can convert your fiat to their coin, and probably still get very little increase.

I am sure the full details of the project will be revealed officially soon, because I still count all these as rumor despite all the links shown, but none of them has really been linked to the official page.

[escalante28]

In that case, I  don't think it's good to invest in their stable coin it because you can't make a profit in it. lol. What is good about it is the mass adaptation, when people start using the stable coin of facebook, it will give them knowledge of what is a cryptocurrency and how blockchain works. That will give them an interest in investing cryptocurrency.

So Facebook is a really good help to promote the crypto industry to its millions of users. I'm very excited about the launch of it because mass adoption is equaled to the bullish market.

[Pffrt]

Where's the official statement? Can you share a link here? I think it will be good for the whole of our crypto community that giant like facebook is joining the trend, good days are coming.

[Chika08]

Facebook’s head of financial services and payment partnerships for Northern Europe has officially confirmed the stablecoin according to this news. https://www.cryptoinformers.info/news/160-facebook-officially-confirmed-their-coin-white-paper-to-be-out-this-month

white paper for the token would be published on June 18.

But the coin will be tied to basket of currencies in order to prevent volatility.

Can we say mass adoption for cryptocurrency?

have been hearing and reading quite lots of news about the Facebook cryptocurrency coin and yet to see an official website or blog from Facebook hence, I find it difficult to follow up this news about it

[Jpti]

Yes the process to mass adopt cryptocurrency has already begun, and the truth is that cryptocurrency will stay here with us forever. It does not matter whether Facebook will issue its own digital currency or not. But Facebook's initiatives to join cryptocurrency will obviously promote cryptocurrency. We can be confirmed only after Facebook brings out its whitepaper in this regard.

[bittraffic]

Where's the official statement? Can you share a link here? I think it will be good for the whole of our crypto community that giant like facebook is joining the trend, good days are coming.

There is no official statement but the article says the word is from Laura McCracken, Facebook’s head of financial services. If not of course official but still can be considered substantial statement. 

confirmed that the planned stablecoin will not be tied to any single fiat currency, but will instead be linked to a basket of currencies in order to prevent volatility.

The quote is from the article which probably mean this coin isn't gong to be any exchange but on their own exchange too?  I sort of look at it that way.

[bering]

Facebook is a big player and might be after they launched the effect will be good for crypto because facebook have important role to promote crypto project considering facebook is one of the biggest social media in the world but too early to says this is mass adopted because we still cannot know how far this projects will be successfully indeed most people expect this will be huge success but we never know until we see facebook launched it

[Caladonian]

Facebook is a big player and might be after they launched the effect will be good for crypto because facebook have important role to promote crypto project considering facebook is one of the biggest social media in the world but too early to says this is mass adopted because we still cannot know how far this projects will be successfully indeed most people expect this will be huge success but we never know until we see facebook launched it

Until this coin able to be listed inside exchange and being widely adopted, the effect of this project inside the whole crypto will be decided,
Facebook created a name on its own so creating its own version of crypto will interest both crypto lovers and new investors who doesn't have
any idea about this industry.

[tabas]

Probable but I can see more competition is waiting ahead for these stable coin focused company. Binance will also launch their stable coin but it won't go along with USD back up but it's with pounds. I can't wait to see the reaction of the people especially those who have not been riding the crypto market since then. I want to see on how would they react about facebook's creation of a stable coin and what those skeptics would say then about this major announcement.

Binance is always responsive and adaptive to hot trends in crypto. It is likely that the current hot trend in crypto is stable coin, and once again we saw the very early participation of Binance in the race of stable coins. Despite the fact that Binance has been the biggest crypto exchange, they have never stopped improving their platform, by launching DEX, Margin tradings, stable coins recent weeks. Based on their strategies and their adaptability, I believe that Binance will stay in the first position among crypto exchanges for too long.

Yes, stable coins are now the hot trend to the market. After facebook rumors confirmation comes out, binance has also announced that they'll be turning to this market. No doubt that they have been one of the market mover and leader for the moment. This gains more attraction to their exchange with all of those progress that they do.

[thunderbitz2717]

I'm wondering why facebook developer chose to create a stablecoin? If that is the case, what commodity will be used to back facebook stablecoin? These are just some questions lkngering in my mind as of now especially where stablecoins are in hype. Can't wait to see the whitepaper.

[Google+]

I'm wondering why facebook developer chose to create a stablecoin? If that is the case, what commodity will be used to back facebook stablecoin? These are just some questions lkngering in my mind as of now especially where stablecoins are in hype. Can't wait to see the whitepaper.

I think Facebook wants to try to make a stable coin because Facebook only wants to try to make it easy for users to transact without having to suffer losses because of price movements that might fall, but if Facebook is like that then the benefits of trading using coins from Facebook will it's difficult to make a profit.

[Dpat]

Maybe some News site published this news about the Facebook entering of the cryptocurrency market and the evolve of their own coin but still there are no proofe from the facebook official authority.

[maldini]

Facebook’s head of financial services and payment partnerships for Northern Europe has officially confirmed the stablecoin according to this news. https://www.cryptoinformers.info/news/160-facebook-officially-confirmed-their-coin-white-paper-to-be-out-this-month

white paper for the token would be published on June 18.

But the coin will be tied to basket of currencies in order to prevent volatility.

Can we say mass adoption for cryptocurrency?

Just for one thing i dont like stablecoin, its really hard for me to make an analysis how we can profit from trading on it, its just a stable value, used only for payments.,well for me, if this is really true then i would assume that more and more users will engage in crypto as long as the stable coin of facebook will materialize in the future, this means it will also affect the performance of the whole crypto industry.

It seems that Facebook is developing globalcoin not for the benefit of traders or investors, they are developing their coins for the benefit of Facebook and its users, especially Facebook itself is the biggest social media and has a business system such as Facebook, they want to improve their payment system into a more effective and efficient system therefore they developed stable coins.

[Vaculin]

I'm wondering why facebook developer chose to create a stablecoin? If that is the case, what commodity will be used to back facebook stablecoin? These are just some questions lkngering in my mind as of now especially where stablecoins are in hype. Can't wait to see the whitepaper.

I think Facebook wants to try to make a stable coin because Facebook only wants to try to make it easy for users to transact without having to suffer losses because of price movements that might fall, but if Facebook is like that then the benefits of trading using coins from Facebook will it's difficult to make a profit.

For me, Facebook created their own coin just to satisy their users and provide them more easy transactions when it comes to payment system. But it's totally different from bitcoin wherein traders and investors used it to make profits. So in this case, bitcoin will not be totally affected by Facebook coin.