Bitcoin Forum

Hello Experts out there , How do you think libra coin of facebook effects Bitcoin ? For eg If libra can do what BTC , ETH could do than people will never use BTC ?

Libra coin will be a stable coin, just like USDT, it seems only private investors will benefit from the gain since the coin won't be volatile, so traders may stay off the libra coin. Bitcoin combines technology with economic reward, so which economic reward will I gain from buying and holding bitcoin that doesn't grow? Maybe bitcoin will just be a challenge to USDT if it will ever be traded.

Libra will make people feel more comfortable using virtual currencies, so it will likely draw more people to bitcoin. As bitcoin is decentralized and more speculative, it will draw a different subset of users than those using Libra. The main benefit of Libra will be the increased liquidity and infrastructure it will bring to the space. It may also pose a threat to the U.S. dollar if people feel it is a better or more stable alternative.

We have enough Libra threads that you dont need to create more  ;)

Nobody trusts Mark Zuckerberg to create a currency that anyone can own and use without repercussions

https://techcrunch.com/2019/06/18/facebook-libra/




If you want to trust a bunch of bankers and regulators to create money we all can value and trade as money (without high fees, long term costs, privacy violations, lack of security and anonymity) then go do it!!


This is good for bitcoin. Shitcoins are still shitcoins regardless who creates them.

If Libra pairs with bitcoin then it will affect that much. But as of now, all we can do is to speculate. The details given for a normal person can't be understand that much but if its for people who are more with technicalities, they understand that this Libra is no way to compete for bitcoin and it's just an additional stable coin that has usecase.

There is no people/user bitcoin who leave bitcoin just because the coin's facebook came as we called as a libra coin, unles the newcomers who will swayed with new project which is booming such this time. Bitcoin and facebook is really different, I will say libra coin is money fiat digital as a whole it is not pure has decentralized system, this is different with bitcoin who has pure decentralized system. I don't have a long time to choose between libra coin and bitcoin although the libra coin has announced by the giant media social, I'll use bitcoin first because I've been comfortable to using it.

 ::)

Head of Facebooks Libra Distances it from BTC: We'll Share Information with Authorities ...
- https://cointelegraph.com/news/head-of-facebooks-libra-distances-it-from-btc-well-share-information-with-authorities

Chair of House Financial Services Committee Requests Halt on Facebooks Crypto Project ...
- https://cointelegraph.com/news/chair-of-house-financial-services-committee-requests-halt-on-facebooks-crypto-project

hi, guys!
i was really surprised with the news that facebook's gonna provide all people kinda general-purpose stable coin.
in my ind its really cool idea that will completely change world of cryptocurrency.
also recently i've read read related article. u can check it. https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html

I think that comparing Bitcoin and Libra misses the point. The only similarity between them is that both are based on blockchain technology. Bitcoin is kind of "rebel" currency, decentralized, when Libra is made for Facebook purpose only. Besides, we still don't know much about this coin, only few details (https://www.blockchain24.co/facebooks-libra-what-we-should-know-about-it/) from official website and Zuck's post

Libra is the coin that will contribute to the popularization and dissemination of cryptocurrencies. But I do not think that crypto enthusiasts will support this centralized bank coin.

If Libra successfully launches stable coins, this will be good news for crypto users around the world.
So far Facebook has a large community, everyone will be more confident with the blockchain.
But I doubt it will rival Bitcoin.  ;D

True, in time it is not right to compare Libra coins with Bitcoin, even though they are both cryptocurrency but the path will also be different, and now it can only be limited to predicting because the library coins have not been launched and the data is not available yet.

We need to understand that libra has nothing to do with btc and it is not a btc killer, libra will be a fiat backed stable coin mainly aimed at online payments and money transfers so i do not think there is any threat to btc it will perhaps increase the volume and liquidity in the crypto market.

the appearance of Libra makes bitcoin exceed $ 11,000 in 2019. this is my opinion about Libra and Bitcoin. the libra effect is very influential with a significant increase this week.

Libra would be a boost to bitcoin adoption. The price of bitcoin would increase. Libra being a direct competitor to stable coins would give a tough competition to established stable coins and would be the new favorite of exchanges and merchants.

Libra is bad projet because thy sytem is centralized, we want to control our data and financial and libra does not meet these requirements. Also the price is fixed, stable coin that's means so bad for investment. So for people care about their data and money libra is bad solution

There will be huge blow out on the part of crptocurrency and not just BTC or ETH/
We all know that FACEBOOK is the most popular social media which most of the people in the world has an account.
this will be the way to educate people who dont know anything with crypto.

did you really know it what LIBRA the facebook coin.
LIBRA is very young and we don't know what happen next.
i just don't really know why people get enthusiast with LIBRA just because Facebook.
let's think more.

I think that in this regard, we should be a little cautious, because Facebook and how it has access to personal data of users, And now this data will also be joined by money.  It seems to me that the danger can be increased.

Nah, let's say that the Libra coin is going to be fast for transactions and charge less fees, but people are not going to abandon Bitcoin for Libra. Libra is just in the same league with USDT and other stable coins and you know for sure that coins like that does not stand a chance with Bitcoin, btc will always be taking the lead in the crypto market. And the way I see it, a lot of people are still going to prefer USDT more than the Facebook Libra coin, cause I have seen a lot of people questioning whether the Libra coin is going to be a privacy coin or just another means for them to grab more information from their platform users and sell to advertisers.

Libra will not be high and successful in the market cause libra does't get popularity like as BTC, stable coins only benefit dev and the team dude. BTC benefit us all so that its gaining popularity and becoming number 1 in this industry, I think BTC can't compete with such stable coins.

As of now, the buzz created by Libra on the cryptocurrency world has somehow beneficial to bitcoin and altcoins. Bitcoin has breached over $11,000 while top altcoins such as Ethereum and LTC have gained more than expected. We may not directly connect these increase to Libra hype, nonetheless this is good. Libra and bitcoin may exist together here in cryptocurrency like ethereum and bitcoin.

The biggest differences of libra and bitcoin will be the information that is shown to the people around the world because bitcoin is Decentralized while i think this libra coin have most the complete information of the people around the globe which it disregards the aspect of the true nature of bitcoin that is "anonymity"

I think shouldn't compare Bitcoin and Libra, not now. The similarity is that both of them basen on blockchain technology. It is hard to predict, only time will tell, there are only  some information (http://link https://www.blockchain24.co/facebooks-libra-what-we-should-know-about-it/)

Well we are yet to know how Libra would differ from Bitcoin, the truth is that Libra being the coin of Facebook is not going to be as safe as Bitcoin is. We have seen in the past that Facebook has been using the users’ information and data without their consent and I think that being one of the highlighted cases around the world will refrain the users to put in all their trust in Libra unlike Bitcoin.

Hey bro, just the same way we cannot predict the market, which is the same way that we cannot predict human beings sometimes, what you think they can never respond to is what they do respond to. In this cryptocurrency market, I have learnt never to say never. Look at when the whole issue of Craig David came out claiming to be satoshi, everyone was over the internet casting stones on him, but these same people still went behind and supported the coin, and keep boosting it through their investment.

As regards this issue with Facebook Libra coin, the only thing that is guaranteed to me is that it can never displace bitcoin or take the position of bitcoin in function and in many areas, but when it comes to acceptance and support, let us leave the issue of anonymity aside, people will still use their coin if they find it as solution to any of their problem.

I really hope, that Libra coin will help to near the mass adoption, but there is no way that such a centralised coin could compete with BTC or ETH for the first or second place on coinmarketcap. This would never happen on this market.

I am still analyzing with features that Libra will present so far. If Libra is able to make transactions faster and transaction costs are much cheaper, it's likely to shift little by little in popularity. It would be a good suggestion if Libra can use or make its own exchange, for example (facebook exchange) with cheap withdrawal and deposit fees, it is not impossible that everyone will switch very quickly. This is just personal advice.

Libra is a stable crypto coin like USDC and Tether so in my own view its not an investment option like bitcoin and other altcoins but one thing is very certain I belief that Libra is capable of driving new investors to crypto space since libra is going to be pair with ETH and BTC on exchanges

If you talk about the effects of the emergence of a new project, of course there will be an effect. But the size or size depends on what features Libra will launch. Seeing the very warm conversations in recent weeks about Libra, it's likely to be a tough competitor for them (old and popular coins). I have to be patient to wait for what will happen in the beginning of 2020, when Libra is launched to the exchange.

however bitcoin will never be replaced if the libra coin has a good advantage over bitcoin it will have a good impact on crypto and will have an impact on bitcoin hopefully this is a good start for crypto considering that lately bitcoin has risen significantly maybe it's the impact of fb adopting crypto

Libra coin will likely be a stablecoin so will likely have limited volatility compared to bitcoin. Btc will likely be considered more preferable thn libra for trading/speculation purposes.

Nevertheless, the central  banking cartel will do everything to derail crypto. The only hope is 100% anonymous ownership of one's assets. Efforts are already underway in the US to ban crypto and any asset that could undermine status of  debt as money and by extension the socio-economic power of banks. This is why there is such a strong political pushback against libra and the development of crypto in general. KYC is a measure imposed by the banking establishment to potentially  identify and target large holders of crypto.

 Remember gold was forcibly seized from US citizens to prop up the FED's monetary hegemony in 1933. The same thing will happen to crypto once it begins to seriously threaten the  monetary monopoly of central banks.

Currently, the only thing preventing that is the lack of credible stablecoin due to volatility. If facebook libra gets released it could be a panacea  stablecoin bridging fiat and crypto. I am sure this will come at a price, for example severe restrictions and reporting requirements on large crypto holdings along with unexplained wealth confiscation orders of large crypto holdings.

For solutions against the oncoming crackdown check the following link to our project:

https://bitcointalk.org/index.php?topic=5159944.0

I agree libra coin wouldn't be taking over what path did bitcoin had been through. This was just a regular altcoin who happened to be popult due to social media backed up. Without any sort of reasons like that, there's no possible point that it could be appreciated on that point.

Libra coin if allowed to be traded freely like any other cryptocoin, would have a positive effect on adoption and price of bitcoin. It's easiness of buying and getting would make people easier to enter the crypto market. And when they does, the first thing they'd choose in bitcoin. And hence the price of bitcoin would be on a rise.

I don't think libra will impact Bitcoin or people stop using Bitcoin over libra. It's stable coin vs pure decentralized coin. The whole structure of cryptocurrencies has been due to the base of Bitcoin.
I firmly believe that Bitcoin price may influence libra just like other cryptocurrencies.

I think Libra will be a very good and functional coin. But it is important to understand that this coin will be regulated and it will not be anonymous. I believe that these factors will not allow this coin to overtake today's leaders. Most likely Libra will quickly raise its price but then there will be a sharp decline.

and I also think that there is no joy or any level and some success.  but it seems to me that it will not be better than Bitcoin.  maximum, it will enter the top ten first and then in the top five coins.

There are so many coins that claimed they can beat Bitcoin before they even release it. after they released those coins there's no change have been made. The price of the bitcoins is still there and most of these coins who claimed to beat bitcoin is no longer there. so in the end of the day nothing can out rank bitcoin for now.

It seems like LIBRA coin is going to be a stable coin, and so can't be compared with facebook. I can say only newbies in Cryptocurrency will go after LIBRA coin and leave Bitcoin.

Libra is a stable coin which is not going to have volatility on the prices like happens in bitcoin so do you think it will be used for investment?

So no effect on the bitcoin from libra.

There are so many aspects of Libra than BTC but the security of BTC is still trusted. I don't have any doubt in BTC but we'll see in LIBRA in the next few months after it launched in the market. I see libra as big impact into the cryptocurrency community, most of the people today recognizes cryptocurrency as legal because of it.
The popularity of bitcoin also rises and that is a good thing. Libra can be the game changer here and we'll see about it in the future.

Libra is not a coin that should be compared with Bitcoin.  Because Bitcoin leader Libra is just a new toy in the world of cryptocurrency.  I'm not saying that libra is bad, it just seems to me that it will quickly go out.

There are many coins they claim to beat and replace bitcoin although none has been successful in their attempt. I believe Libra coin is a great and functional coin but can never be compared with bitcoin because bitcoin is the father of cryptocurrency. It influences the price of alternative coins on the market.

I do not understand why these big companies are trying to create their own blockchains, when they can use already working blockchains that offer decentralization and safety, that was tested for a long time.

what you convey is an opinion that you think about libra coin ... and in my opinion about what you think it is impossible to happen ... because there are already many qualified coins and have a team that is able to create various products to make their coins great and in great demand people were able to boost the price of their coins ... but until now no one has been able to do it ... that the fact is that bitcoin is still number 1 in the world ..

LIBRA again, the facebook coin again.
i think LIBRA is not have a really good progress and why people just look LIBRA because it from Facebook.
LIBRA is a new here and Bitcoin is the king of cryptocurrency.
and we can look how LIBRA have a bad respone in this forum.