Post
Topic
Board Altcoin Discussion
Re: Facebook is raising money for Facebook Coin
by
LUCKMCFLY
on 19/04/2019, 05:12:57 UTC
Yesterday I created a topic here about Facebook Coin: https://bitcointalk.org/index.php?topic=5129560.20

After that Nathaniel Popper, a NYTimes reporter that covers crypto, said Facebook is raising money for its crypto project. Seems like I may not be wrong in my article.
Here and here:
https://twitter.com/nathanielpopper/status/1115331482384388098
https://coingeek.com/facebook-seeks-1-billion-investment-from-vcs-for-its-crypto/

I can't see other reason for Facebook to be raising money if its not to back its own decentralized crypto. FB wouldn't need to raise to issue a stablecoin.
Everybody in the original topic said FBCoin couldn't replace bitcoin. While I agree that the ultimate store of value will remain BTC, I think FBCoin could easily surpass BTC in daily usage and, therefore, market cap.

I ran some numbers and I think its possible that FBCoin launches with around 300B USD market cap and reaches 1T in a few months. I'm comparing to HKD M0/M1 and HKMA's stability fund.
But I think FB should raise at least 10B to cover the initial stage of running a "sovereign" fund to stabilize the currency against extreme volatility, like I wrote in my article: https://medium.com/blockchain-positive/how-facebook-coin-can-help-billions-of-people-by-not-being-a-stablecoin-d780b6579e93


Brace yourselves, new times are coming.



Well we must wait if the new currency of Facebook will be a cryptocurrency or will be a token, for the market capitalization I do not doubt that it is high, due to the number of users that moves the facebook.

And the money collection for facebook I do not see it necessary for the simple fact that Facebook has a lot of money, I think Mark Zuckenberg wants to experiment and not miss the game with the Blockchain technology, so it is clear that it can not replace or compete with Bitcoin because it does not have any millionaire support that establishes it, in order to compete against bitcoin, but it will use its technology to increase not only the stocks in the Stock Market, but it will also raise money, very much to be able to execute any action that it has in mind.