Is Facebook about to embrace Bitcoin?

[Gleb Gamow]

Dec. 10, 2013: http://www.coindesk.com/bitcoin-future-paypal-president-david-marcus/

Bitcoin has more potential to revolutionize commerce than near-field communication (NFC) technology does, PayPal president David Marcus said at the LeWeb conference in Paris today.

June 9, 2014: http://venturebeat.com/2014/06/09/paypal-president-david-marcus-heads-to-facebook-to-focus-on-messaging/

PayPal’s president is going to Facebook.

David Marcus, who helped modernize the aging payments company, is jumping ship to run Facebook’s messaging business, Recode and others are reporting.

“David is a widely respected leader in the technology industry with a track record of building great products and finding creative ways to turn them into great businesses,” Facebook wrote in a blog post this afternoon. The company noted that its users now send around 12 billion messages every day, and its standalone Messenger app has more than 200 million users every month.

July 23, 2014: http://venturebeat.com/2014/07/23/confirmed-facebook-messenger-will-eventually-do-payments/#

Now we have confirmation on why Facebook hired PayPal’s David Marcus: Payments and Messenger will eventually “overlap,” Zuckerberg said during today’s earnings call.

When the company first announced it had hired Marcus, the former president of PayPal, the industry took it as a strong hint that Facebook was looking to monetize its messaging app. After all, Marcus joined PayPal after parent-company eBay acquired his mobile-payments startup Zong in 2011, first leading PayPal’s mobile efforts before taking the lead as president.

While monetization speculations were broad at the time, Zuckerberg’s confirmation that payments will come to Messenger someday is almost too obvious now.

[rammy2k2]

no they wont

[Gleb Gamow]

no they wont

Doge?

[adoni]

Zuck will resist btc for one reason

Well two

THOSE TWINS

So he will look at btc and say NO just due to the fact the twins claim to control 1% of all bitcoins

So WHEN FB does take a position in some type of crypto he may choose another crypto coin IMO

How many users does FB have? So FB and Twitter are both in positions to stamp a crypto coin system as their preferred coin

Now if FB is slow to embrace any crypto coin, then btc may grow big enough to not be destroyed as the current preferred crypto coin as it is viewed now by other tech giants

User base of both FB and Twitter could drastically change the whole crypto coin landscape IMO

[beetcoin]

i think facebook embracing bitcoins could be bigger than dell or any other retailer, because how many people actively check it on a daily basis? many, many people... and what we need right now is more players to enter the game.

[gelar24]

i think facebook embracing bitcoins could be bigger than dell or any other retailer, because how many people actively check it on a daily basis? many, many people... and what we need right now is more players to enter the game.

yes very true facebook can be a good partner bitcoin passing game game facebook: D

and facebook has the largest use of the base as well

so facebook can embrace bitcoin is larger than the others

[Sutters Mill]

It would be great if the did start accepting bitcoin or integrated the technology somehow, but I just can't see it. Facebook is all about making money and I'm sure they'd much rather create their own coin or type of company to capitilise fully from it. At the moment I don't think they could make much money just from bitcoin.

[rohnearner]

Winklevoss twins Likes this Post :p
and for that particular reason Mark Zuckerberg Dislikes it.

People with " Mark " as a first name doesn't have a good history with bitcoins.
IYKWIM

[Ludi]

is there any word about what Zuckerberg actually thinks of bitcoin. Surely he's aware of it, but has he actually mentioned it publically? You would think a geek like him would be all over it but I'm not sure how much control he has nowadays with a board to please etc.

[3x2]

Everyone will embrace BTC one day but it can take some time.

[jbrnt]

I think MZ must be into bitcoin privately. He is buying everyday bit by bit. He make sure he whispers no word on bitcoin until he thinks he has enough, then he will say FB is considering accepting bitcoin.

[MegaHustlr]

It's great news that this guy is pro-bitcoin, but that doesnt mean he'll be able to pursuade them to integrate it but I hope he tries and it's surely better than having someone anti-btc.

[Gleb Gamow]

Winklevoss twins Likes this Post :p
and for that particular reason Mark Zuckerberg Dislikes it.

People with " Mark " as a first name doesn't have a good history with bitcoins.
IYKWIM

In that vein, neither do bitcoiners whose last name start with the letter 'Z'.

[Mybitcoinz]

Should be fine but for the moment I think they won't adopt bitcoins, they have facebook credits! 

[ArbatDeli]

Why would they adopt BTC? They have a proprietary money transfer system with credits.

[Gleb Gamow]

Why would they adopt BTC? They have a proprietary money transfer system with credits.

And, they could easily sell those credits currently via PayPal, giving up ONLY $.30 + 2.9% per transaction, not to mention charge backs. If ONLY their were a cheaper way!

[Yakamoto]

I cannot see FaceBook accepting Bitcoin.

And if they do, I worry people start buying BTC to put into Facebook, the price would skyrocket. However, that would be met with a crash, in my opinion. Everyone buying BTC to send to FarmVille would jack the price, especially all the kids with their parents credit cards so they can't really follow what their kid buys and puts where, could probably put the price at $900/BTC, and then it would go back down because it would eventually become unsustainable, since people would get less for their buck, and people would stop buying it, causin a drop in value.

I'm not trying to spread FUD, it's just my opinion on what a scenario could be.

Chances are I'll be wrong.

[RedhatCAT]

I cannot see FaceBook accepting Bitcoin.

And if they do, I worry people start buying BTC to put into Facebook, the price would skyrocket. However, that would be met with a crash, in my opinion. Everyone buying BTC to send to FarmVille would jack the price, especially all the kids with their parents credit cards so they can't really follow what their kid buys and puts where, could probably put the price at $900/BTC, and then it would go back down because it would eventually become unsustainable, since people would get less for their buck, and people would stop buying it, causin a drop in value.

I'm not trying to spread FUD, it's just my opinion on what a scenario could be.

Chances are I'll be wrong.

I am not sure about farmville specifically but I do know that there are some games on facebook that accept bitcoin

[minerpumpkin]

I guess Facebook will rather build their own payments system, than implement Bitcoin. Facebook is the epitome of a centralized capitalist company.

[ANTIcentralized]

Why would they adopt BTC? They have a proprietary money transfer system with credits.

And, they could easily sell those credits currently via PayPal, giving up ONLY $.30 + 2.9% per transaction, not to mention charge backs. If ONLY their were a cheaper way!

They already simply use credit cards for their "credits" so I would argue that the credits are used to keep costs for accepting credit cards down.