Will Facebook Coin Revolutionize how payments are made at the popular social networking site?
Update: This launch was delayed until 5/5/2014. Unfortunately, the dev for the project didn’t even bother showing up for the re-launch.
Tomorrow – May 2, 2014 – marks the date for the launch of Facebook Coin.
Coin devs have a lot up their sleeve for this one, including an IPO, a small pre-mine, airdrops and giveaways. They also claim that it’s a rare coin because only 50,400,000 will be produced.
Technical details of Facebook Coin (FBC):
- Algorithm type – Pure Scrypt, PoW/PoS Then Pure PoS with cool interest system.
- PoW Duration: TBC
- Initial coins per block – 120 coins
- Block target time – TBC
- Diff adjustment – TBC
- Coinbase maturity – TBC
Currently no wallets are available to interested parties, but they are said to be available soon.
Further, the coin devs will offer multiple IPO payment addresses for IPO voting and IPO shares. Of course, their first order of business is to get listed on a major exchange.
Altcoin enthusiasts participating in the discussion at BitCoinTalk don’t seem to be that enthusiastic about this launch though.
In fact, many of them have brought copyright issues to the attention of the devs and have even told them they hope that he gets sued for his creation.
Others voiced their opinion that the coin can’t be taken seriously.
Member knightdk posted: “You must change this coin name to failbookcoin :D”
Another member of the community, Cashmenwa posted his thoughts: “It look like made in china. Since it is FACEBOOKCOIN Why not free to FACEBOOK.”
However others, that aren’t feeling particularly jaded about the coin, have provided translations and pool services for the launch – scheduled for 18:00 GMT on May 2, 2014.
Only time will tell which side prevails on their predictions, but based on feedback and competition for recognition in the Altcoin vertical I would say they have their work cut out for them.
What are your thoughts? Will you be devoting time and resources to this coin upon launch?