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Author Topic: Is Facebook about to embrace Bitcoin?  (Read 3027 times)
ArbatDeli
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July 24, 2014, 10:27:16 PM
 #21

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!

Talking about the money transfer system itself, not ways that customers can buy credits.

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July 25, 2014, 12:40:28 AM
 #22

I think many companies will finish accepting it
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July 25, 2014, 01:11:23 AM
 #23

I am not sure Facebook will be dominant in social media for much longer. The privacy backlash is an issue for them and the fact that the younger generation is moving on to lighter platforms. Bit coin doesn't need Facebook.

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July 25, 2014, 01:24:24 AM
 #24

If they do that, that would be huge.


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July 25, 2014, 02:08:02 AM
 #25

2008 hot 18 year old chicks would ask me what's your FB

2011 hot 18 year old chicks would ask me what's your twitter

2014 hot 18 year old chicks ask me what's my Instagram

ALL THE GROWTH IN FB IS BROKE ASS 3rd WORLD NATIONS

No one with a brain uses it IMO

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July 25, 2014, 02:12:06 AM
 #26

Bitcoin integrated on FB would be nice for all those games and for donating to pages and causes on there. Definitely some potential, although I don't think facebook will add bitcoin anytime soon.

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July 25, 2014, 02:14:04 AM
 #27

2008 hot 18 year old chicks would ask me what's your FB

2011 hot 18 year old chicks would ask me what's your twitter

2014 hot 18 year old chicks ask me what's my Instagram

ALL THE GROWTH IN FB IS BROKE ASS 3rd WORLD NATIONS

No one with a brain uses it IMO



k u done fellating yourself?

Bitcoin integrated on FB would be nice for all those games and for donating to pages and causes on there. Definitely some potential, although I don't think facebook will add bitcoin anytime soon.

i don't think they will incorporate it.. having bitcoin for games and donating is nice, but how does that help out facebook? that's probably all they are concerned with.
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July 25, 2014, 02:17:44 AM
 #28

i don't think they will incorporate it.. having bitcoin for games and donating is nice, but how does that help out facebook? that's probably all they are concerned with.
True, they could take zero of the donation, because the payment doesn't even go through facebook. Unless facebook developed something like bitpay and they would take a percent of it through there.

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July 25, 2014, 02:24:56 AM
 #29

Post title with a question mark at the end? Time for rampant baseless speculation!

I believe that Facebook will love Bitcoin so much that they'll pay out dividends to stockholders in the crypto! I heard Mark Zuckerberg wants to make sure every kid in Africa has their own shiny Bitcoin!

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July 25, 2014, 07:48:16 AM
 #30



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July 25, 2014, 08:43:16 AM
 #31

I don't think so, but would I like to, yes. One huge yes. It would be amazing for Facebook and Bitcoin alike, but still it is unlikely to happen, soon at least.

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July 25, 2014, 09:30:27 AM
 #32

i don't think they will incorporate it.. having bitcoin for games and donating is nice, but how does that help out facebook? that's probably all they are concerned with.
True, they could take zero of the donation, because the payment doesn't even go through facebook. Unless facebook developed something like bitpay and they would take a percent of it through there.

What they could do is allow people to send bitcoin to each other. They have billions of users; families, friends, young, old etc. Why not make it a de-facto remittance service / bank?
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July 25, 2014, 09:56:03 AM
 #33

If facebook will adopt bitcoin we will see a real pump in value.

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July 25, 2014, 10:08:13 AM
 #34

I thought there was already a couple of apps that allowed you to send bitcoin through Facebook messages, although last I heard they were in beta phase and invite-only.

Sorry I cannot recall the exact names at the moment.

It would be too cheesy of Facebook to try and start their own coin... Just more layers of distraction upon distraction.

As a multi-billion dollar corporation I'm not sure they are ready to deal with the potential legal hassles of bitcoin and they likely have pre-existing relationships with other corporations that are profitably based on dollar-related fees that could possibly be done away with by implementing bitcoin.

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July 25, 2014, 10:13:13 AM
 #35

I heard Facebook more and more start demanding scanned IDs from their users. So this might well be in preparation of the move, satisfying AML and KYC.

And no, they won't adopt Bitcoin or any crypto for that matter, they simply will set up a centralized system. Also they already have billions of users, more than Bitcoin unfortunately, and a strong network effect behind them.

2008 hot 18 year old chicks would ask me what's your FB

2011 hot 18 year old chicks would ask me what's your twitter

2014 hot 18 year old chicks ask me what's my Instagram


well, guess who owns Instagram.

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July 25, 2014, 01:01:43 PM
 #36

They will need to integrate it with their facebook store to stay competitive.
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July 25, 2014, 02:51:34 PM
 #37

Why not?
Many other big companies like Dell already accepting Bitcoin or planning it (Amazon).
I think for FB this will be smart move because they have a lot users who are outside of USA, not used (or don't have) to CC, so if they offer Butcoin I think many FB users will educate themselves about it and happily accept this way of payment.
Digital currency for digital services FB is offering to his users, why not?
In my opinion this is win win scenario but of course FB officials will decide.

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July 25, 2014, 05:13:15 PM
 #38

Why not?
Many other big companies like Dell already accepting Bitcoin or planning it (Amazon).
I think for FB this will be smart move because they have a lot users who are outside of USA, not used (or don't have) to CC, so if they offer Butcoin I think many FB users will educate themselves about it and happily accept this way of payment.
Digital currency for digital services FB is offering to his users, why not?
In my opinion this is win win scenario but of course FB officials will decide.


I think FB looking to be another payment processor/exchange is not out of the question for these reasons:

-FB Credits aren't called credits any more, they're called Game Cards.  Read: fail  ...or Transition?
-FB credits being introduced in the first place shows that the company has interest in this area.
-VC funding is going into Bitcoin startups, not FB credits or Dogecoin.  That makes it easier to convince stockholders.
-COIN ETF on NASDAQ same as above.
-More and more retailers accepting Bitcoin, You can't spend FB credits anywhere other than on FB.
-Bitcoin's growth bottleneck (in my opinion) is in end user adoption.  FB could be that "killer app" that apparently some people are looking for.  Shows a good fit for the two.
-FB is not the cool new thing anymore.  It needs a new product.  Facebook phone?  Where did that go?
-FB, for the average Joe, solves the Bitcoin address "problem", it can be a mainstream wallet.  Brings ppl back to FB.
-Bitcoin needs escrows when dealing with strangers, or a universally-recognized -trusted- brand.  Who will be that brand?  Paypal or Facebook?
Why would FB want to deal with your bank, your credit card company,etc. when dealing with its "currency", when it can just skim off of your Bitcoin transactions?  FB credits require more server space, more support for those servers.  Bitcoin has a network that is F-R-E-E built in.
-a number of other reasons that I haven't thought of yet.
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July 25, 2014, 05:17:33 PM
 #39

I heard Facebook more and more start demanding scanned IDs from their users. So this might well be in preparation of the move, satisfying AML and KYC.

Are you freaking kidding me? Really? Wow... they really are pushing the limits! Holy cow!

I should have gotten into Bitcoin back in 1992...
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July 25, 2014, 05:32:54 PM
 #40

I heard Facebook more and more start demanding scanned IDs from their users. So this might well be in preparation of the move, satisfying AML and KYC.

Are you freaking kidding me? Really? Wow... they really are pushing the limits! Holy cow!

Wow! First I had heard of this, but...
The fact is, I asked them repeatedly to explain to me why my account had been disabled. They refused on each count and instead sent me generic emails. I still do not know why they shut me down. I feel like I’ve been dealing with the FBI. They refuse to answer questions yet ask me for my Government ID..
http://gingerliu.wordpress.com/2010/08/08/facebook-demands-government-id-before-shut-down

 On Christmas day, I got my account disabled. Reasoning was because ' We have suspected you are using a fake name and/or information.'

My name on my facebook was my LEGAL name.
My mother and I are constantly talking on there as well.
Well, I could only verify my account with my phone, which was recently cut off beforehand.
So, they give you the option to submit a photo copy of your government issued ID.
I sent one of just my photo ID that I copied with my photo printer.
NOTHING.
I copied my school ID, my license, and my credit card.
I blacked out all the information that they DID NOT need.
Still nothing....
http://www.boycottowl.com/Facebook/1

FYI: There is not a huge amount of sources to verify, but it does appear that FB is closing some accounts and demanding Gov't ID's.

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