Hello, Folks! Today I’m going to discuss the Facebook Cryptocurrency. Facebook Cryptocurrency? What’s going on what’s the rumours, what coins gonna be added to Facebook soon?
So, I do know the market is dipping right now so please do not be fearful I’m here to show some positivity. So, let’s see what is happening-
Facebook right now, there’s been a lot of rumours that Facebook’s cryptocurrency ban is all about them, launching new ICO. So, what does this mean and what is Facebook, so if you guys aren’t familiar with what Facebook is essential, it is the biggest social media platform right now with over 2 billion active users and a lot of people use it for marketing. Recently, we have announced on the news that they have stopped cryptocurrency ads. So, what does this mean?
Well, if you have an ICO or you’re trying to promote something cryptocurrency related, you basically will not get approved at all. Of course, this hasn’t been fully rolled out because I’m still seeing those ads on my news feed but that is maybe just for me. I don’t know if it’s showing you let me know in the comment section, I’d really like to know whether or not this is fully rolling out right now.
But there has a lot of rumours about Facebook launching its own ICO. Now, you may be wondering why would Facebook launched its own ICO?
Well, if we have a look at the biggest ICO which is set to be launched right now it is a telegram. And if you guys are not familiar with How Mark Zuckerberg thinks of what he has done?
Well, essentially he not only owns Facebook, he owns Instagram, Whatsapp, Oculus Rift and he is looking to buy a lot more companies in the future. So, now he’s saying that telegram right now taking all of the thunder with the ICOs and it’s going to be the biggest ICO raising millions upon millions. So, this might be an opportunity for Mark Zuckerberg to really take full advantage of this and for him to launch a Facebook ICO. So, what we see in this in 2018 I don’t know, I can’t really tell the future. But right now, I would certainly keep my eyes peeled and follow the story very carefully because looking at the past history of how Mark Zuckerberg really thinks about business and investing.
In general, especially with companies, this could only be really big in fact, earlier this year he was talking about introducing Facebook to be more decentralized and to be over the blockchain. So, it gets back power to the people and makes it a better overall experience. He wants to take it away from being centralized because right now with Facebook being centralized, you can’t really share as much content as you want. Right now, you have to be really careful and the government is always what you’re posting and they spy on you and so forth. So, I’m really interested to see what is really gonna happen whether or not he means what he says whether or not he’s gonna launch ICO but I guess, guys we’re only gonna wait and see what happens as time goes on.
My Thoughts: –
So, there’s been a lot of rumours, a lot of talk about Facebook Cryptocurrency.
How is Facebook going to add different coins to Facebook for payments or whatever you want to call it?
But I have a different idea of what’s going on with Facebook and Cryptocurrencies. Recently, Mark Zuckerberg was quoted that he was researching on cryptocurrencies, he was trying to figure out how to implement cryptocurrency or something.
So, what I think about Facebook and kind of what their history is and what they’ve done with other companies on how they’ve kind of attacked the marketplace?
I don’t see Facebook adding an established coin to their platform and somebody might say well you’re an idiot for thinking that but if you think about it what incentive would Facebook have to add Litecoins, there’s a lot of rumours about Facebook adding Litecoin as a payment option on Facebook.
What Facebook gain out of adding a cryptocurrency to their platform or using Litecoin?
It really makes no sense for them to go and basically add Litecoin when they can just go create their own coin. You know, they have all the money in the world, they can go and create their own coin the Facebook coin if they really wanted to.
But at the same time do they really want to, do they need it, what would they need it for and what would they use it for?
Am I gonna use the Facebook app for sending money back and forth to my friends, am I gonna have Facebook coins if I own Facebook stock and now I buy the Facebook coin and the Facebook coin goes up the Facebook stock goes down and what’s gonna happen with the stock price?
Is it really something that they need, would they need to add a Facebook coin or a coin in general a cryptocurrency coin?
I don’t really see a reason for them to add a cryptocurrency coin, I don’t see kind of utility of it. People already pay for Facebook ads with US dollars and maybe they create some kind of coin that people would have to buy the coin to pay for ads and then somehow they’d get away from having to pay the fees for credit cards and stuff like that.
But is it really enough for them to do that and then the same sense. Now, they have to work with the whole coin, it to worry about the coin and spend money on that where right now they’re just making so much money already.
Now, another scenario, would be the Facebook could create a Facebook cryptocurrency then use that Facebook coin to reward users for creating content?
Let’s say I create videos instead of me posting my videos on YouTube like I do, I would post my videos on Facebook and then Facebook would pay me in that currency and then I could use that currency to buy other things.
The price could go up or whatever’s going on the kind of like steam it that I could do that so that’s something that I’ve been thinking about that Facebook. In the past what they’ve done with Snapchat, Instagram and other apps and stuff like that.
So, now that we have steam it where people are rewarded creating quality content is Facebook is going to go down that road. We’re now, Facebook has a Facebook coin and then users are paid with Facebook coins for creating quality content for people watching and that makes sense. Because now advertisers are putting ads on videos and then Facebook is now paying me for creating content posting it on the Facebook.
Right now, you don’t make any money from posting anything on Facebook. Now, people are always gonna be going to Facebook because it always drives traffic.