Facebook to buy coinbase

Coinbase, which recently claimed a valuation of $1.8bn, has rumors floating around about Facebook buying it.

Source: A disciplined startup emerges from the Wild West of crypto-currency

Would this effect the prices of coins in the coinbase exchange? Thoughts?

 

wow.. kinda scared facebook is dipping into crypto lol

 

This is just a rumor and nothing more.

Coinbase makes Billions in revenue and makes no since for a company who is in the publishing business to buy out a multi billion dollar cryptocurrency exchange.

If Facebook wanted to , it would buy a smaller exchange or it would make its own.

There is literally 0 evidence of Facebook buying Coinbase. There is also no reason for Facebook to buy Coinbase when they could just work with Coinbase to add Coinbase commerce or other Coinbase APIs.

Also, Coinbase is a US based exchange and there are lots of international Facebook users who wouldn’t be able to be verified on CB.

I don’t think this will happen and the title is a little misleading. If it was true, then yeah the prices of those particular coins on CB would go up in theory, but anything can happen, just look at CB launching BCH... they couldn’t even do that right, so I can only imagine the issues with Facebook ( a company which was just under fire for its use of data ) buying a crypto currency exchange.

 

I love how hypocritical the crypto space is


One minute they hate FB for not allowing ICO and Currecy advertising, then the next minute they are begging for FB to buy an exchange or add a new coin.

I particularly think FB is dead and the only people who use it is my grandma and girls I went to high school with.

Sure FB is still popular, but I would rather see a decentralized Facebook offer 10+ currencies then for FB to spend 2 years buying out CB and another year adding crypto, only for grandmas to be like “ wth is a public key?”.

 

Yeah... It's gonna change the prices because people are scared. Facebook was just in a recent scandal of selling privacy data.

 

I highly doubt that will effect the prices

 

Coinbase is one of the largest exchange of bitcoin in the US. Facebook was just exposed for selling data to foreign country. How will it not.

 

It's true Facebook was seen all over the news for this, but if it bought coinbase it would likely be them trying to set up new payment systems within its ecosystem (WhatsApp, Instagram, messenger, etc). So I think it will have a positive effect to the prices, if it's done well.

Don't think their privacy issues will have anything to do with bitcoins price, completely irrelevant.

Tbh i don' think they will buy coinbase anyway

 

Bitcoin was made for privacy. Well, tbh it was made for other reasons but criminals use it for privacy. Bitcoin price goes high when criminals use it. What will they (consumers) think when facebook (who was exposed for selling data) acquires coinbase theoretically do. Everyone will most likely not use coinbase because they have a history of selling personal data. It's like going to the same shop if you knew they sold your phone# and credit card info.

 

I understand the point you're making, i just don't agree it will effect the prices. Feel like there is way more chance they would increase demand and thus increase price.

 

TBH a lot of people have already forgotten about the scandal. The masses aren’t that smart lol

 

Yeah true, but facebook's name and reputation is still tainted.

 

Meh. The ad campaign will fix it. A good portion of companies are mixed in with a scandal, or multiple, throughout their lifetime. The backlash happens and then fades quickly. People were extremely up in arms with Facebook and the government during the Snowden leaks, but they quickly lost interest and celebrity gossip and normal stories quickly went back to the top.

In the end, people don’t care and don’t believe they can do anything so they let it go and forget

 

Yet people still use it.... People don't care after awhile. Sad as it is, just how the world works.

Supply and demand model with network effect would more than likely pop some of the coins, but seems like this is just hype for now.

 

I believe it would be a bad business decision... how hard would it be for Facebook to start their own exchange? Not like they don’t have the capital....

 

Coinbase is the epicentre of crypto in the USA. Would take vast resources to copy and then would still be competing with coinbase if they didn't buy

 

UpholdInC