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Updated: Facebook Coin - It's Happening!!!!

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Posted (edited)

Up until today I had not given much serious thought to Facebook coin, after all, it's about as classic a joke as you can find in the crypto universe, e.g.: 

(Note the date!)

However, today a news story crossed my path that if Facebook did in fact issue a coin it could generate $3 to $19 billion (that's billion with a b) USD by 2021.  Facebooks total revenue last year was $40 billion, so this could be a very big deal.  Apparently they tried "Facebook Credits" between 2010-12 but this would be a different issue.  Frankly, I think the Barclay's analyst is off, this just doesn't make sense.  What would the market for Facebook coins be?  After all, the platform is "free" as Facebook's users are not its customers but its product!

Facebook appears serious however, the article notes that they have over 20 listings on their recruitment page looking for people with knowledge of crypto and blockchain!  Let me know if you need to know why manhole covers are round!

Anyway, for those people who want Facebook to learn even MORE about this, I guess this coin will be for you!  I'm passing, unless Stake adds it as a wagering option!

Link: https://www.coindesk.com/facebook-coin-could-generate-billions-in-revenue-barclays-analyst

 

Edited by wry | Edited Title to Update Story

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can this actually mean a competitive trade in the coin market.. billion dollar company to get a coin under the same name..to see if its popularity would be enough to devalue BTC..wonder why they would just add bitcoin to their company...just another coin to be added to just sit there.. unless they buy their own coin to bring up the value..

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Its really surprising maybe by means of their advertisements or to generate an auto post with recommended by facebook mark on every advertisement being endorsed by them, maybe the fb coin will be of usage then. 

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haha.. still a joke to me!.. but it may do well to be honest.. imagine all tha facebook junkies thats playing all that crap games paying with facebook coins to unlock extra features..  smart move and surprised it took them this long to get it going... the next coming of a joke coin coming to reality like doge.. xD

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If Facebook coin were to really be released it would have such a niche feeling to it being already a established social media powerhouse. Much fascinating indeed to see it actually happen. :o

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On 3/11/2019 at 8:51 PM, Etude said:

If Facebook coin were to really be released it would have such a niche feeling to it being already a established social media powerhouse. Much fascinating indeed to see it actually happen. :o

I agree it will need much franchising  to it happen but it is Facebook we are talking about after all.

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On 3/11/2019 at 4:32 PM, polor12 said:

can this actually mean a competitive trade in the coin market.. billion dollar company to get a coin under the same name..to see if its popularity would be enough to devalue BTC..wonder why they would just add bitcoin to their company...just another coin to be added to just sit there.. unless they buy their own coin to bring up the value..

well i think due to to popularity of facebook, a facebook coin would be more comfortably purchased by people who know nothing of crpto currency or digital curencies

so i dont think it would be just another coin but a very prominent one if it ever comes to be. even if it has no functionality lol

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What if facebook provides or rewards facebook coins or Fb Coins for being active on social media ? But to earn you have to go through some KYC.  How would this be ? What do you guys think ?

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1 hour ago, Kate said:

What if facebook provides or rewards facebook coins or Fb Coins for being active on social media ? But to earn you have to go through some KYC.  How would this be ? What do you guys think ?

I don't think Facebook will give out money or coins like that. Maybe they will have it as a currency in facebook that a person needs to use if they want their products advertised. Also, if it gets down to what you said, i get it as a comparison with stake forum site. it would be chaotic since it would surely be abused and maybe facebook cannot check each post/activity individually due to billions of users using it every day. Additionally, i think they would avoid giving out money freely. imagine giving at least a dollar per user per month ( i think that's slow enough) it would already be a 2billion dollar worth of loss for them and they got nothing from it.

I am using facebook a lot and i am getting annoyed now due to tons of paid advertisements popping out of most videos (especially now that it is almost election season here). I am sure that this coin will skyrocket because of facebook's continuous growth in social media. More and more users are signing up and more and more businesses use this chance to promote their products which might increase facebook's coin worth.

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23 hours ago, ceastem said:

I don't think Facebook will give out money or coins like that. Maybe they will have it as a currency in facebook that a person needs to use if they want their products advertised. Also, if it gets down to what you said, i get it as a comparison with stake forum site. it would be chaotic since it would surely be abused and maybe facebook cannot check each post/activity individually due to billions of users using it every day. Additionally, i think they would avoid giving out money freely. imagine giving at least a dollar per user per month ( i think that's slow enough) it would already be a 2billion dollar worth of loss for them and they got nothing from it.

I am using facebook a lot and i am getting annoyed now due to tons of paid advertisements popping out of most videos (especially now that it is almost election season here). I am sure that this coin will skyrocket because of facebook's continuous growth in social media. More and more users are signing up and more and more businesses use this chance to promote their products which might increase facebook's coin worth.

Facebook is now dead xD mainly because of their paid ads. 

But what if they do that because now adays there are social medias where you get paid for interactions on their site. 

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1 hour ago, Kate said:

Facebook is now dead xD mainly because of their paid ads. 

But what if they do that because now adays there are social medias where you get paid for interactions on their site. 

Well maybe it differs between countries. Because here everybody uses facebook despite having tons of advertisements. Although i gotta admit it is very annoying

Can you give me social medias that pays for interaction? I will try a few haha

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17 minutes ago, ceastem said:

Well maybe it differs between countries. Because here everybody uses facebook despite having tons of advertisements. Although i gotta admit it is very annoying

Can you give me social medias that pays for interaction? I will try a few haha

In my country everyone uses Instagram lol . Well i have come across one called sphere you can try it out but problem is it will take some time for them to approve your account. 

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WOW!!!  It wasn't a joke!!!!  Sure enough, the Wall Street Journal reported on its front page that Facebook has been actively considering a crypto coin and payment system integrated with its site for a year now!  Wow!!!

They call it Project Libra.  They should call it, "We are sorry for saying all crypto coins are ponzi schemes."  So glad to see that Bitcoin is up big on the news!

The Wall Street Journal is behind a paywall, but you can read a summary of the story here: https://www.coindesk.com/facebook-in-talks-to-build-ecosystem-for-planned-stablecoin-wsj

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cmon but really.. at the end of the day... they are all jokes.... only the main crypto ones will ever be imo widely user or accrepted in  the cryptoo/token world....
idk mnaybe im wrong.... but ... idk... feels like a joke even tho its gonna be real

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There was a similar story in the Russian social network. Vk.com so there was a vk coin. April Fool's joke turned into a real contest! People even began to perceive it as a real currency!

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in my opinion this is not a joke, but it might make many people know about cryptocurrency.

We know that Facebook is social media with the biggest user in the world if Facebook makes that coin.

surely the news about the project will spread throughout the world, so people who don't know the cryptocurrency find out what cryptocurreny is.

After that lay people will get to know and take the first step so buying bitcoin can be very good and make altcoin prices rise and a cryptocurrency market revival.

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Another nice update on this topic!  Facebook has registered a company in Switzerland to house their Libra project!

Link:  https://www.coindesk.com/facebook-registers-secretive-libra-cryptocurrency-firm-in-switzerland

I have such mixed feelings on this.  I would not trust Facebook with ANYTHING, much less any money, but I guess it will help cryptocurrency go further mainstream.

Is anyone looking forward to "Libra"?

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Although still prominent as one of the social leaders, Facebook hasn’t piqued my interest and I have not really used it since (unless needed by other apps etc.) 

The whole drama behind them abusing consumer data was an even stronger reason for me to consider not even using them at all and deleting the account. 

Sigh, Facebook accounts are never really purged fully though right? 

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wow its a huge news for us if its coin lunches hope last few months its on so much controversy  for his unethical nature so try to established now through coin now ,if it happen its directly big pushup  for cryptoworld to moon.

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