{"id":401624,"date":"2019-03-28T06:54:25","date_gmt":"2019-03-28T05:54:25","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/facebook-to-launch-a-cryptocurrency-2\/"},"modified":"2019-03-28T06:54:25","modified_gmt":"2019-03-28T05:54:25","slug":"facebook-to-launch-a-cryptocurrency-2","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/facebook-to-launch-a-cryptocurrency-2\/","title":{"rendered":"Facebook To Launch a Cryptocurrency"},"content":{"rendered":"
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By Martin Armstrong<\/a><\/p>\n

Armstrong Economics<\/a><\/p>\n

March 28, 2019<\/p>\n<\/p><\/div>\n

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QUESTION:<\/strong>\u00a0Why is Facebook going to issue a cryptocurrency? Doesn\u2019t that confirm the evolutionary path of technology?<\/p>\n

ND<\/p>\n

ANSWER:<\/strong>\u00a0The term\u00a0\u201ccryptocurrency\u201d<\/strong>\u00a0is being thrown around very loosely. It is true that there is increasing hype and speculation regarding a theoretical Facebook Coin. However, this is not a \u201ccryptocurrency\u201d it is simply a digital entry and nothing more. The proposed\u00a0Facebook Coin is the polar opposite of Bitcoin. Facebook is creating a pretend cryptocurrency for WhatsApp. This is not a real cryptocurrency. The cryptocurrency enthusiasts are only looking at the label. The Facebook Coin is nothing like Bitcoin (BTC).<\/p>\n

Thet Facebook Coin will be pegged to a fiat currency similar to that of Tether (USDT) and USD Coin (USDC) and it will use blockchain technology.\u00a0The only real unique aspect about Facebook Coin versus a regular stablecoin is that it could be backed by a basket of fiat currencies, all held in Facebook bank accounts. This is more along the lines of the ultimate evolution of what I would expect to become the next reserve currency \u2013 a basket of currencies rather than a single currency.<\/p>\n


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\n<\/span>If our sources are correct, this means that a Facebook Coin would easily compete with the rest of the $2-3 billion stablecoin markets\u00a0where the biggest stablecoin\u00a0remains Tether (USDT). Tether (USDT) has had some problems with its backing which resulted in its decline by as much as 10% below the value of a U.S. dollar.<\/p>\n

That said, since Facebook Coin would be a stablecoin, it will not be possible to invest…<\/p>\n<\/div>\n<\/div>\n

Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Martin Armstrong Armstrong Economics March 28, 2019 QUESTION:\u00a0Why is Facebook going to issue a cryptocurrency? Doesn\u2019t that confirm the evolutionary path of technology? ND ANSWER:\u00a0The term\u00a0\u201ccryptocurrency\u201d\u00a0is being thrown around very loosely. It is true that there is increasing hype and speculation regarding a theoretical Facebook Coin. However, this is not a \u201ccryptocurrency\u201d it is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-401624","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/401624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=401624"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/401624\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=401624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=401624"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=401624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}