Bitcoin Forum

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

Well, i'm a bitcoin enthousiast, but Libra has one thing bitcoin hasn't: a huuuuuuge marketing budget.
Eventough i haven't read the whitepaper of Libra, nor did i try to find sourcecode for a reference client, i'd still be suprised if the technology used for Libra would be much safer than the one used for bitcoin, however, the fact that it's such a big company that coupled it's coin to existing fiat coupled with an enormous marketing budget and endorsement of company's like VISA will give it an edge bitcoin has never had.

The thing is: Libra is not bitcoin... AFAIK, it's a centralised token coupled to FIAT markets produced by one of the biggest privacy-invading companies on the globe. The only thing that couples bitcoin to libra is the fact they both use blockchain technology.

Libra is in a position that is so good in the market, this strength is due to the big name that Facebook has. even though Libra is currently projected to be stable in the calculation at this time. But this power might be above Bitcoin, but it takes a long time. let's talk about the future and we are waiting for a much better situation towards the development of the existing digital currency market. Libra has potential because Facebook is a very large company.

I think this is very difficult for Libra coins to rival bitcoin in the world of Cryptocurrency markets, which I know that bitcoin has very strong investors and even the way it works is almost everyone knows, while the Libra coins are just planning. indeed nothing is possible, everything can happen at any time, but all their goals are to keep developing the blockchain technology and developing bitcoin throughout the world ...

I think it is possible only if people will use and patronize this coin. Now talking about Bitcoin, people already know the use of it's platform and is widely used. So it would be hard for libra to take over the market just by it's popularity and not by volume in case it hits.

Libra to overtake Bitcoin in terms of marketcap and adoption? Very very possible. Actually, I'm quite sure that will happen.

Should we be worried though? I don't think so. Bitcoin and Libra are both in different leagues. One is a decentralized currency and SoV, and one is a centralized stablecoin. So there's that. It shouldn't matter in my opinion. If anything, this new Libra coin would be giving more nods to blockchain technology(whether or not Libra actually uses blockchain) and cryptocurrencies.

people says it will take over bitcoin soon?

Who are these people who are saying that?

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

Russia Will Not Legalize Facebook’s Cryptocurrency, Official Says (https://cointelegraph.com/news/russia-will-not-legalize-facebooks-cryptocurrency-official-says)

French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin (https://cointelegraph.com/news/french-minister-of-economy-to-ask-for-guarantees-from-facebook-in-regards-to-its-forthcoming-coin)

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16 (https://cointelegraph.com/news/senate-banking-committee-sets-hearing-on-facebooks-crypto-for-july-16)

will not be as simple as people imagine

no, because libra is enough centalized to be shit.
it has more common things with euro than with btc

im sure that suckerberg is secretly buying bitcoins xd

why do they have to take over bitcoin and why not take over XRP, if they are traded on crypto exchange sites, I think their trading volume will shift ETH or XRP, it's impossible to beat bitcoin and I'll bet on that  ;)
but I also support Libra projects that use blockchain technology

Potential legal issues aside, as stated above, the nature of Libra and Bitcoin is completely different. What Libra has going for it, is the fact that is will be born having being designed at all levels to be a stable token that will be ready to use in commercial transactions, with heavyweight investors both economically and market dominants, on a network that should be robust and speedy, very low to null TX cost, and with user friendly alleged features in its Calibra wallet support.

Bitcoin, while aspiring to be a heavyweight coin for commercial use, has not been capable of taking the advantage of being a pioneer, and though it is still taking steps towards it, it is for the vast majority a store of (speculative) value.

Implementation technicalities (centralized/decentralized, stable/free flow, degree of anonymity, etc.) and passions aside, from an every day user’s point of view, out to perform day to day purchases, the concept of Libra and the powers behind is rather appealing to the masses.

You're completely underestimating Libra. While I think Bitcoin is still better, Libra can a lot easily gain adoption due to it not having the current flaws of Bitcoin as a currency(e.g. scaling, price volatility, user-friendliness). Libra as a centralized currency and being backed by fiat, can be a lot simpler to use, and would currently be better to be used as a currency due to the stable value.

Note that they're aiming for global use, not just a stablecoin that you can use on exchanges.

The problem is we don't know the power of this centralized coin especially we know that Facebook and its sponsors are more famous than Bitcoin. For ordinary peoples think it will be better than Bitcoin. IMO It would be very easy for Libra coin to take over ETH or XRP on the market.

Chances are, Libra will surpass bitcoin for popularity and attract more users than any currency, but before we see the results, we'll have to wait for a while.

Adding to that, it is a stablecoins so it does not compete with Bitcoin.  Libra automtically nullified all speculative factor regarding its value where Bitcoin excel.  It should be compared against other stablecoins such as USDT, the upcoming Binance stablecoins , etc.

I would agree that there is a possibility that it will overtake Bitcoin in its popularity since Facebook have huge userbase around the globe.  The question is, are the users have interest in such cryptocurrency?  I will be one of those who are not for sure.

It's very much pre-assumption as Facebook has just announced their projects and Bitcoin is an established king of the crypto world and to surpass Bitcoin Libra has a long way to go.

Though bitcoin blockchain has established its position on the  cryptocurrency industry, the Libra blockchain seems to be very promising. It's looking to be as strong as the other blockchains out there. Overtaking bitcoin is a possibility.

of course that can't happen, because I'm sure Bitcoin will still be the king of all cryptocurrency until whenever and no one will be able to replace or beat Bitcoin including coin from Facebook, that is Libra and besides Libra there are still many better and popular coin (such as Ethereum and Binance that already have a real product) but still can't replace or beat Bitcoin, so I'm sure Libra won't be able to beat Bitcoin too.

so far I have not found the exact reason how libra will take over bitcoin. Even this coin that I know is centralized and stable, do you mean Libra will beat Bitcoin in terms of price? I don't think that is possible.
Or will Libra defeat bitcoin in terms of its popularity? maybe yes. But one thing makes me clear that Libra will not be the same as Bitcoin because Libra itself will not have investors like Bitcoin, Libra only works on a Facebook business scale.


Well then in your opinion whether with lay people more interested in libra will make bitcoin fall? I think bitcoiners and old investors will stay in bitcoin because Libra itself does not have the potential to make a profit. And I think Facebook won't position libra into the altcoin ranks like eth, xrp, etc.

Facebook overtook all their social media competitors and made on the top in it`s industry. Libra has it`s budget as it is backed by a big company, so I think, if Facebook wants to overtake Bitcoin, then they could possibly do it.

Not so sure about that. Even though Libra could easily be shilled by Facebook across its different social media platforms, a lot of people would know that bitcoin is still on the top. Besides, the feds are also pursuing Facebook's crypto launch given the amount of troubles the said company had itself in for the last few years. Security of the users is the main issue (lol), and we know how many data breaches/leakages the said company had back in the days. People know this and do not easily forget, so I think that could weigh in when people start comparing one over the other.

It depends on how well people are educated and informed on the dangers of investing in a token with centralized control. If you are not worried about privacy and you want the US government and private companies to track all your financial transactions, then you are perfect for Libra.

If you are on the other hand a free thinker and you value your financial privacy then Bitcoin is for you. Why should these entities know everything about your finances and what you do with your wealth? <Buy something kinky with Libra and they know all about it>  ::)

Libra and its secondary payment option calibra will have kyc verification so you can use it while bitcoin does not if you want to use it on its own without any interference by exchanges or payment options such as bitpay and the like.

The ultimate irony is that Libra is facing all the problems of a decentralized currency (having basically all governments as potential enemies) with none of the benefits (being unconfiscable, having no CEO accountable..etc). They are claiming to be decentralized (which they are not) and now the US government is already saying they must halt all development on the thing since a private company cannot create their own currency. I think this a peak moment in the absolute clown clusterfuck that the altcoin space is.

thats why i'am really sure if libra will not beat bitcoin,
because, libra is a centralized cryptocurrency, and bitcoin is pure decentralized cryptocurrency my friend
and bitcoin will always become the king  ;)

I don't think that any coin can take over bitcoin. Probably as of now. And if there is any coin that could take over, I think it will be Ethereum but not something new as Libra. Because even now, there are no signs that any coin could take over bitcoin. However, I'm still looking forward to its performance.

I think that SEC and Congress will not allow Facebook the opportunity to create a full payment instrument. Maybe Libra will be used to buy ads.

You need Satoshi Nakamoto to join with facebook association to take over bitcoin on the best coin on cryptocurrency world. Stable coin which has centralized system is never get a bunch of user because it will be useless to be use as investment place. I said it in the side of price of both coin, but if in the side of regulation which is mean the coin can be accepted as payment system it's indeed facebook coin will be the winner. The main purpose of facebook created a global coin is only for payment instrument for the internet world but regardless of it all bitcoin never be take over.

I think the comparison is very wrong because there is no competition between the Bitcoin and any other currencies so if we compared these coins then there is no use and Bitcoin is always in the top position so that I think Bitcoin is more than anything

I think people should make sure they read this at least it will change people's perspectives on the Libra coin taking over the bitcoin.  But what if they are able to settle all the obstacles will still be able to surpass Bitcoin?

Some part I have same opinion with you that Libra will knock out Bitcoin from the top no 1 position from coinmarketcap, it means from market capitalization. And also community number perhaps will defeat bitcoin, but that is a wide gate for bitcoin and other decentralized crypto to be more popular around community through Libra coin.

Maybe they can easily overbeat Bitcoin´s market cappitalization, but it doesn´t mean anything, it is not a cryptocurrency, it is not a decentralized asset and what is the worst? That the power of one man is raising  ::).

Libra coin popularity come from Facebook be the most popular social media and that is why some crypto enthusiasts are saying that it might takes over the dominant in cryptocurrencies market capitalization from bitcoin! It might be possible but it will take long term and everything also depends if it is unique and people buying into the idea Facebook has. I have been following the current events in cryptocurrencies world and this libra coins will really makes great impact in future and hope it impact bitcoin positively.

Centralized coin vs decentralized coin. Which one do you think is going to win? Which one do you think will give you more freedom? Which one do you think fulfills the main goal of crypto currencies? It obviously is the decentralized coin that is bitcoin. There is no way Libra will dominate the crypto currency market. Libra is just going to help give more exposure to bitcoin indirectly, which in turn will help adopt crypto currencies.

Libracoin has nothing to do with Bitcoin. They are totally different and have absolutely zero in common if you ask me. Different value propositions.

Facebook just make again their own virtual again, At 2009 they making facebook credits its a virtual currency at Facebook for their marketplace. We can use Facebook credits for buying their service like games, etc. But suddenly facebook credits fail at 2011, and now Libra was shown up better than facebook credits because using cryptocurrency/blockchain. To be honest, I don't really care about "Libra", there is a really centralized system. "Libra" could be can take over bitcoin for the technology, because they are really using new technology and will be more development at their project, but for the rank market cap would be hard for them to take over bitcoin who already trusted by all community around 10 years.

It will have some use cases for sure, but i think it will fail when the regulators come in full power. Creating an this kind of universal centralized "bank" is a kyc nightmare. And of it really tries to be more stable then a dollar, that could also be a threat to central bank.

Don't expect too much for an impossible thing, just chill and watch the actual happenings that you can daily see for Libra over bitcoin. Think of a big ship being sank by small one, and with that case of Libra to overtake bitcoin I guess that's totally a huge imagination. We need not to expect for that, and if other people see some better insights for this coin? so be it! let them dream big but don't be get fooled into something's not capable of.

it is very difficult for any coin to replace Bitcoin because almost all coin benchmarks are in Bitcoin.

The truth about Libra - https://coinjazeera.news/nation-of-facebook-declares-war-on-united-states-launches-sovereign-currency/   ;D

this is the first time i heard facebook credits but i was an avid user of facebook and i didnt see the facebook credits that you are talking about  . maybe its only available on some countries ?  there is a wallet feature that i see on facebook but they are using a third party e-money wallet/currency  .


is it possible  . many coins in the crypto market are in a competition and some have succesfully overtake the others so there is also a possibility that libra coin can overtake btc but its not a big deal to me  . i will actually be happy because we now have other alternative for money making business .

It's not talk of the town instead this is spamming the whole cryptospace these days

Have been seeing this altcoins spam all over the place .i dont know why even in bitcoin discussion this altcoin has been tackled is this the marketing strategy for advertising?

yes, everything is possible in crypto world, but to replace bitcoin is not easy buddy
bitcoin born with pure idea as the first decentralized product in this industry right ?
and some article said if libra will use a centralized system, thats why i believe libra will never replacing bitcoin

even in any aspect I thought it would not be possible. we will see everything next year when the coin is actually launched to be traded on the market. we can see how potential the coin is, or what the coin will be in the future.

The main crypto maybe still bitcoin. Because even facebook crypto will only used to their internal transaction, or maybe it will expand when facebook want. But from what i heard, a lot of thing still be barrier to facebook like regulation that can make it not really easy to be used by a lot of people.

I love this type of news. It is funny and yet serious at the same time, it goes to show a lot of people who are taking this lightly actually know a lot about crypto, and at the same time,,, it goes to show a lot of serious people like Zuckerberg should one day just stop to take a nice laugh at themselves. USD, Libra. All the same;)

in crypto market everything is possible. but i still don't think that any coin price can go above bitcoin price. because all market is under pressure of bitcoin dominance. as soon as bitcoin price drops others drops more.

...and the US Dollar; also, this wouldn't matter. Why? Because like I said in a previous reply[1], Libra isn't focusing on being a stablecoin to be traded on exchanges. Libra is focused on global adoption, straight off. And just based off that fact alone, it's pretty easy to say that Libra can easily overtake Bitcoin in terms of transaction volume, marketcap, and adoption in general.

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[1] https://bitcointalk.org/index.php?topic=5156459.msg51534561#msg51534561

What people are missing is that we don't see Bitcoin as currencies again but an asset and as long as people expect the value to keep going up and the hash rate keeps increasing the long term value of Bitcoin is up unlike Libra that is  more of a stable coin

I think Bitcoin is over the top when comparing to the any other cryptocurrency so Libra currency is developing right now so we cannot compare anything with that if it was in your good value at the future then we will compare them till then Bitcoin is always in the top.

Nope, libra is a type of stable asset, and this will not be a rival of bitcoin, as we already knew that all stable assets does not appreciate its value and they have already their fixed value, it could not be affected with the price movements as we compared to the other ALTS out there. Now talking about about facebook coin stable asset, who else here believes that soonest they could be a rival to bitcoin? i dont think so, this is just my personal opinion regarding this matter.

I always think that everything is possible. But for this statement about libra coin will over bitcoin, it is so hard to agree. Because i think libra is a stable coin and im sure people will be excited about it but bitcoin is special and bitcoin is the fundamental key to cryto. So it will be hard to take bitcoin down.

maybe that happens, it's just that this requires a large period of time and struggle, seeing bitcoin is too dominating and most people are already too comfortable with bitcoin, but if Libra is able to provide better comfort, I'm sure Libra is able to replace that dominance.

I believe that Libra will be a big success too because of Facebook reputation and it will help the crypto market to become more healthy once again but i don't believe that it will supersede Bitcoin except if their is manipulation that will going to happen thru pump and dump which is the most common scenario.

As far as I remember for my years here in crypto community,it’s not the first time I read or hear a currency that can over power bitcoin was created ,for at least more than a hundred and closer to thousand that this word was used but none of them succeeded.so stop fooling people here because even that Mark SuckYourBird made this Libra coin yet not enough to bring down the technology inside bitcoin

I think they won't do it. Because it is a stablecoin and its value absolutely does not increase and decrease over time. it is only stable to some extent and its strategy is to support development and payment services in potential businesses.
They are a huge development center in the future and they will use the profit to send to shareholders and buy many BTC to hold.
therefore, it still cannot compete with BTC.

I think when it comes to adoption of libra vs the adoption of bitcoin, Libra can have the upperhand. But I don't think Libra coin can 100% take over bitcoin since bitcoin has a huge market cap compared to any coin. If ever Libra beat bitcoin, I think that won't happen now or even in the next few years.

Libracoin is an interesting experiment where nobody knows where it will go and we need to see whether it will benefit the whole place.

Libra will be just another altcoin i am sure maybe one of the top, as we understand how much promotion will be done but BTC, is one and only so i am sure people who understand real value of BTC will support it after Libra relise too.

I don't think even though Facebook still has many users, some conflicts and problems that occur on Facebook such as the previous user data leak can be an obstacle for Libra to develop. Both in the near future and the length of Libra will be difficult, maybe this because they late to entered the crypto space

libra is not cryptocurrency you guys should take not of that

Yeah right that's the advantage of libra over bitcoin the popularity of the company behind that project, but always take note even libra can race the bitcoin price value I still believe bitcoin is the king of crupto without bitcoin all alternative crypto coins are usless.

Nobody knows because Libra Coin not yet launched, take ovet Bitcoin i think is not easy for Libra coin. Everybody know Bitcoin and have used as an investment and digital payment.

Libra cant function like Bitcoin  and it can never take the place of Bitcoin and neither will Bitcoin take Libra position. Bitcoin is simply an investment tool while Libra cryptocurrency is developed to function as a medium of exchange . It is a stable Cryptocurrency . The question i expect you to ask is if Libra override the existing Stable coins ? I believe Libra will serve as a vessel that will take Cryptocurrency into Global audience and facilitating mass adoption. Libra will never have negative impact on Bitcoin, it would rather have positive impact on Bitcoin and Altcoin in general.

I do not deny the potential and popularity that Libra will have from Facebook, but it is not comparable to Bitcoin. Bitcoin is the king of Altcoins, no coins can replace it.

No, one will never replace each other

It is 2 different coin with 2 different use cases
Furthermore, one backup by a basket of reserve currencies
One value comes from the blockchain pioneer itself


So nope

Its true Libra coin will bring many changes and competative edge in cryptoworld but to overcome Bitcoin need alot home work and time.Bitcoin  is always kind libra coin can take place of queen.
Bitcoin give way to the world to be your own bank and move around the world cashfree.

It's crypto but much more centralized like sidechain that being controlled by the company that issued that token or crypto. but the good news about that if that was a stable coin as stated by the libra team.
it's not a threat for crypto and that just like another marketing for crypto.

We are comparing a stale crypto currency with bitcoin.

Both uses blockchain but the coin from facebook is centralized so it is not an alternative of people think fiat money is not needed in future.

but in the future also requires digital assets that have a stable value. bitcoin and many altcoins have very fast changing values ​​depending on market demand. then what are the assets like this that we can use for payment in the future?
Libra will develop for the basics of the concept of using their coins. and bitcoin and other altcoins will remain crypto traded with the uniqueness of this market.

Stable = centralized,so we are giving the control of our money to someone like the old same traditional banking system.

This is not the actual vision of satoshi,even if the price is volatile its on the own demand no body control over it which is the best for future.

I think they will not just be another alt coin. If you think about it, they have everything in place they need to get their coin adopted, the whole network is ready to use it. That's very different from other alt coins which have to build a network first.

I wonder what would happen if it is launched already how would these investors going to take part of it since it is centralized i'm sure few of the people will ever try to take part of it. Facebook may be backing it up but i don't think comparing it to Bitcoin will give it an edge since Bitcoin is designed to be your own money without the involvement of the third party.

Why do we need it for? Payments? We have fiat money for that. What will be the advantage of libra over other payment methods that we are using now. You can send small transactions with payment processors in minutes. The advantage of bitcoin is that you are in control and your transactions can't be hijacked. You are sure that your payment will reach its destination and nobody can flag it or stop it because they don't agree with your ideology or choice of merchandise.

Facebook coin can be controlled and you have to use their tokens and their platforms. When I want that I can use my bank account that is also pretty stable.

That's what happened but for new coins even though it's released by a famous platform like Facebook I'm not sure the Libra coin will quickly compete with Bitcoin, because it takes time to achieve something high in this industry but it can be said that it will only take a short time to become big on the cryptocurrency market.

If Libra can offer something that Bitcoin hasn’t been able to offer so far, then it is quite possible that this project will compete with Bitcoin.  But you need to take into account the fact that when it comes to the protection of personal data, it is still better to choose a decentralized project.

The purpose of libra coin only for payment system because it is a stable coin. The price of libra will be same as a movement price of dollar which mean for everyone who consider that libra is the best coin to be use as investment place are wrong. So, Which offer does Bitcoin not have? As payment system bitcoin can be use it moreover for an investment place I bet with 99% the most users will choose bitcoin because it has proven can give the investor get a lot of profit. There is no gap for libra coin to compete bitcoin.

I doubt if Libra can take over the position of Bitcoin, it's too early to make that statement.
we know that Libra has a large community, but the project is still unclear, the whitepaper is not yet clear. other than that, the issue of Libra has only just emerged, already hampered by local regulations. not to mention crypto will emerge from other social media that follows its steps.

Libra coin is different from the Bitcoin. But I think in the next time, the price of Libra will increase and the market cap still growing :))). The Libra coins of Facebook joined cryptocurrency will make this market become better in the last of 2019, together will another big coin of the big company will join the cryptocurrency market!

Libra coins in Cryptocurrency still have to have many stages and processes to be in a good position, now only the best bitcoin and will not be able to be overtaken by anyone including Libra coins

Facebook's cryptocurrency is not a direct competitor to Bitcoin because it is a stablecoin that's designed specifically for transacting within that platform and its vendors and it will be not be considered a store of value that you can invest into for the long term

No way man, who is saying that Libra will take over bitcoin. BTC is not just a coin, it is a technology and also the future form of the money.

I think they need a lot of time to get to the bar with Bitcoin. Although it has a lot of great partners and experienced in the market, but when participating in new markets, they need time to adapt and develop.
Libra is really a great token and it has long-term investment value. I believe they will defeat many of the top 10 CMC competitors in 2022 or 2023.

Who knows if to what extent this coin can go, we are all speculating to whatever the real purposes of this new project,  only time can tell if this will work as competitors or just another stable one that will be here to be personally use inside the site and will not be affected by any market movements.

So, is it a problem if Facebook launches it, what if Google launches a similar thing, will it be the same discussion in this forum, I don't think it's possible that it will go above Bitcoin
the bitcoin community is quite large so I'm not sure that happens even bitcoin needs a lot of time to be known by all people, it could be that LIBRA will compete with google if they launch the same thing with facebook

In dreams. ;D

Have you seen Tether now?
There is not much they could offer after their hype like a year or couple of years ago.
When people suddenly see there is nothing into it but just mere bank-like coin then they got out.
Now it is just being used by traders for pairs in trading btc or eth.

It is not the investment type of a coin. Still USD online version.

I think Libra still hasn't got any signs of being able to compete with Bitcoin in the future because it's all just theory now and there hasn't been any action from Facebook. Now it is still too early to say this but if it relates to this market, Bitcoin is always the number one and not every coin has a chance to beat this coin so Libra is just altcoin and will not there are many differences in this era

I think if Libra coin wants to compete with bitcoin, it should have the ability to compete in the markets because that is the huge advantage that bitcoin has. But moreover, it still can become a win-win condition for both sides.

indeed there are a lot of speculations about Libra who will take the Bitcoin position but I believe it won't be as easy as talking about people, especially Libra as a new project. If indeed Libra has advantages that are not available in Bitcoin it can happen but it also takes time because bitcoin cannot be lost that easily

No, it's not. Libra is nothing than another centralized stable coin. Blockchain is a beyond time technology, day by day the world will realize and they will adopt Blockchain! And, Facebook will use this great technology for their Libra coin, that's it. There is no comparison between BTC and Libra! Who says Libra will overtake Bitcoin, they are fudders or die-hard facebook fan!

Too much expectations can be frustrating in the end, that's how I view the ideas about libra coin. Don't trust too much on new coins, because it has not yet established same with bitcoin and the current impressions cannot beat over bitcoin. Bitcoin holders remained stronger instead of thinking of another crypto diversion.

Google will definitely look for another field. But remember about libra gets paused by facebook and i thought the launch of libra coin next year will be cancelled.
But libra is launched by a company that already known as the biggest company in the world.
It's not compete with bitcoin but it can replace the utility of bitcoin to be the payment system.

Bitcoin and libra cannot be said to be rivals, which I know that Libra will be a stable coin which is actually very different from the characteristics of Bitcoin which has very high price volatility.

why do you have to speculate like that, even with coins that have not been launched on the market. bitcoin will still be the best, if there are new coins that overtake it I think it is an impossibility.

i think libra coin can succeed and has more chance to succeed in the future than bitcoin facebook instagram and twitter have more users and more chances to be successful in the future than bitcoin good luck for all :)

everything will depend on what functions the new project will have.  What does he provide for users of social networks.  If it really is a coin for transferring funds or for online purchases, then in reality the audience of social networks is much more than Bitcoin users.

can not be predicted that Libra will pass bitcoin later because Libra not yet proof self in the crypto market although Libra has many communities on Facebook and not necessarily all Facebook users know about Crypto so in my opinion it is impossible for Libra to compete with bitcoin in the crypto market

I don't even understand how Libra is supposed to pass bitcoin. Do you mean in market cap? Or what else? There is no point in comparing the two to each other.

It seems weird to say it but I kind of think that governments might prefer bitcoin over evil data-vampire coin Libra.

Everyone is getting wary of Facebook having so much power. I would think that if crypto starts to take over from fiat, and the two choices are a) decentralised, or b) hand over control of everything to Facebook, then bitcoin might be preferred.

The counterpoint I suppose being that Facebook can always be taken to court, whereas bitcoin cannot. So Facebook is theoretically accountable, although in practice they have shown little evidence of accountability over their history so far.

Libra taking over BTC might be possible, but it's certainly not desirable.

Many people that argue about libra or Facebook coin and Bitcoin are not really looking at it from stablecoin and decentralized coin but are comparing the two to make it seem there are in competitions. Facebook coin is going to complete with coins like usdt, tether or usdpal and bitcoin is going to still performed well because traders will still prefer it to libra or any of the stablecoins.

The most important hype about Libra coin for me is its connection with Facebook and its ability to on board over two billion users to cryptocurrency. Its simply the global adoption. Otherwise, its just another stable coin like tether or pax

it could never over run bitcoin in terms of value because libra is only a token and is a stable coin so we can't we able to profit investing on it. It is like those stable coins that we already have in the market like usdc, usdt. So i still believe in bitcoin.

I think so, with backups of large companies like Facebook we can already imagine how strong the coin market is, the hype will occur,
many Facebook users might try it, I hate to admit that Libra might be a great competitor to Bitcoin

maybe indeed there will be growth and even renewal in the crypto market, but to refer to Libra coins as a competitor of bitcoin, I think it's too much. there is no coin that has such an opportunity. even some projects that are supported by Microsoft companies have also not managed to compete in the market. we'll see what happens next year after Libra is released and traded.

Libra will in any case be a popular altcoin, as there are a lot of Facebook users, and virtually everyone will be able to face the use of their blockchain in the future. And most importantly, it will increase the popularity of the entire cryptocurrency in the future.

It's not possible for it to topple bitcoin over bitcoin spot,  it might just be around the top 10 coin on coinmarketcap, or probably top 20

Definitely NO!

This had been always the target of most shitcoins in the market where taking the top position and making much more better than bitcoin but look at
the current rankings?No one would able to beat em up and how much more for a centralized Libra coin would do?

People are speculating and when they heard FB , such a big company want to create their own crypto.

And BOOM.... the BTC value increase , it's reasonable when something big can affect the market globally.
And about your Q, it may possible so prepare for the worst

Do not compare Libra over Bitcoin. That is like comparing Bitcoin with kardashiancoin, or trumpcoin with Bitcoin. That is, in all honesty, a stupid comparison. Libra is even having a hard time getting accepted by the crypto fans and supporters. Bitcoin on the other hand did not have to go through unnecessary hype to get accepted by the people.

Libra will become a popular coin caused by facebook and no more but you should remember about a lot of people are being concerned with the status of libra coin that can be called as a centralized coin which controlled by facebook as its parent company. Libra will not give a lot of impact to the price but that can be a free advertisement.

over bitcoin ? lol you must be joking  . no coin can beat bitcoin . with over 10 years of existence we see that bitcoin is still the number one leading coin among hundreds and thousands of crypto coins in the market today.  

and you also forget the fact that libra coin is only a centralized coin  so as a centralized coin its real competitors should also be centralized coins such usdt not bitcoin because bitcoin is a fully decentralized coin with no backing whatsoever   .

I foresee those who are expecting so much from Facebook coin get disappointed, and I see this being anther project of Facebook that will fail woefully, this is not the first time Facebook will be coming with the idea of something relation to digital payment, the last one they came up with some years back was being short down as they could not manage it or maybe because they didn’t get much response from people.

I do not see any spectacular solution that these Libra is bringing into the crypto space, the hype is just too much, and don’t think the product will really get much usage and it is based around centralization. Some people believe so much in this coin to the extent of believing it will not be a stable coin, and price will move along with bitcoin and Ethereum, anyway, I wish them best of luck in their future disappointment.

According to the speculation, we are hearing the Libra is going to be a stable coin and more important thing it is going to global with the highest user base. So how far it is going to change the cryptocurrency we have to wait and see because many institutions are talking negatively about it.

Which institutions are negatively talking about it? They are partnering with plenty of institutions right from the start. Please back that up with a source where you found that information.

Very far from reality. The truth is that Libra might even find it very hard to launch. The governments are very hard on its release. Bitcoin does not have a person behind it, except the pseudonym Satoshi Nakamoto. Facebook's Libra has Mark Zuckerberg. The governments are now asking Facebook to put off the development. If Zuckerberg will not listen to them, they will definitely move heaven and earth to pin him down. The banks and their puppet government do not play fair. For me, Bitcoin is still the safest and most trusted of all.

This situation could be considered controversial against facebook libra coin, and yet they didn't even undergo any promotional event that will show it's usability. I think the government has major part on the scrutiny of what's behind of this project. Bitcoin will not be shaken because of this circumstances, but it's important to know what's the outcome of this matter. Speculative ideas against bitcoin will not be taken over by libra, because the government has taking legal actions towards them.

The governments are not only part of the scrutiny; they are leading it. The scrutiny coming from the crypto world is rather technical. The world of crypto is a welcoming world for as long as the project has a great purpose. The government is rather inimical to crypto projects so their scrutiny is expected to be a little subjective. Also, Facebook cannot simply attach its name to anonymity, which is another inherent feature of cryptocurrency. Libra then is hard to be accepted as a crypto because its mother Facebook has been holding huge amount of personal data.

I believe nothing is impossible in the crypto market. but this supposition is totally absurd. we have to think realistically where bitcoin and libra will be assets that have their respective functions of course they will not kill each other or overtake each other.
we have to see how later support from big companies can manage their crypto. see later if it's already on the market.

That's right, Libra coins are interesting to discuss because they are owned by Facebook's king of social media. But whether the price of Libra coins will be as expensive as bitcoin or not, certainly not an easy problem because bitcoin has long been entrenched and is a driver of price fluctuations in cryptocurrency.
If Libra coin wants to compete with bitcoin, of course it requires a very large capitalization so that the trade happens very quickly and the rising prices will increase by the large demand for Libra coins until the supply is insufficient.

I am more than confident that the price of libra will not be able to increase the price of bitcoin. It is possible to approach Bitcoin capitalization, but not to the price. Whether you like it or not, Bitcoin will still remain the most valuable currency and the most popular in the cryptocurrency world. A lot of currency has come to replace gold, but nevertheless gold is known and bought today.

Although Libra and bitcoin are both under the cryptocurrency umbrella, they serve different purposes on a wider market. Facebook plans to develop Libra into a global coin, classifying it into well-known currencies such as the US dollar and the British pound in an effort to prevent very volatile prices in conventional cryptocurrency such as bitcoin and Ethereum.

I see it in a neutral manner, which means that the possibility of Libra Coin changing the position of bitcoin can occur, but whether it will come true or only time prediction will answer it.
If you see the background of Facebook as a social media that has many members throughout the world, of course, in theory Libra Coin will be easy to sell, but in practice it is uncertain. Because Facebook members don't all like crypto currencies, because they still like fiat money.

Perhaps Bitcoin and libra will have nothing in common, and therefore they can not have competition.  Something like this was predicted for DogeCoin, but nevertheless, this coin has its own fate, which does not intersect with Bitcoin.

Nope. Wont happen.

In fact, i wouldnt be surprised to see every hacker known to man trying to mess up the Libra project.
With centralized middlemen and god awful FB at the helm... I wouldnt doubt something shocking will make this libra the joke of the century.

Not too big a fan of FB setting up shop in cryptoland

I think it's possible. the user base of bitcoin in numbers is nothing compared to facebook. they can reach millions of people easily.

Yes, it might be in huge numbers but we are different in form. They can get attention but I don't know if could be enough for the investor to reconsider it and put money for investment. It could only happen if Libra has its potentiality for a market gain otherwise, it will only be overlooked by them.

Libra and bitcoin are two different think like apples and pears. The most important difference between them is of course centralization and stability of libra.
libra is a bad variation of some bad bitcoin variations.

ccording to observers, the presence of Libra launched by Facebook can shift the position of Bitcoin, mainly based on the assumption that the 2 billion Facebook member bought a Libra coin. Of course everything is still an assumption because the proof is certainly still long.
Indeed, the Libra coin can logically sell directly with a fantastic number of buyers, and this has the potential to boost Libra coin prices to a high level. But is there a guarantee that the prediction is proven, then the time will answer.

Even if that's true, the market cap metric's importance is very overblown and I wouldn't put too much stock into that.  As far as adoption goes, if that happens it will be because there are so many more FB users than bitcoin users.  To me it doesn't mean that bitcoin will lose popularity necessarily, because bitcoin has a very strong community of users and holders.  If Libra gets popular, it might even help bitcoin become even more popular.

Since I don't really follow news (even crypto news), I'm not very familiar with what Libra is or intends to be aside from the fact that it's Facebook's creation.  Is it centralized?  If so, it's nothing more than a proprietary payment system for FB, much like PayPal was for eBay before the former expanded in scope.  As I've said before, I don't support Facebook and I certainly want nothing to do with any cryptocurrency they create.  I think they're just jumping on the bandwagon of crypto popularity.

that is the massive adoption lots of people are thinking that it might take over bitcoin which is not possible,  I can only see it among the top 5 or top 10 on coinmarketcap it cannot overthrow bitcoin

Libra coin is just a payment system out of the centralized system. Facebook owns the payment portal which will get used in large scale in a much shorter time period as it is already established around the globe through its social networking. Op has stated about the libra coin taking over bitcoin in terms of marketcap which seems possible, but bitcoin and libra coin were entirely on different functional platform.

It does not matter if it's not an investment. 1 billion people owning only 10 dollars of libra each would make a 10b market cap.

I don't see this as a match or opponent for bitcoin. in fact, the arrival of Libra in the Crypto market will bring new investment with new money, which might actually help the market to grow. we hope that happens, keep calm and wait for next year where the Libra coins will be released on the market,

With great capital and experience, of course, it will be quite easy to reach investors so that Libra is very confident to be a project that exceeds Bitcoin and this is quite reasonable. but that alone is still not enough because the project is still in its infancy and we still need time to see Libra achievements

not even in my mind I saw Libra coin can be like bitcoin or get past the achievement of bitcoin. a new coin with a vision that is far away. may not be achieved, or indeed it will not be as expected. just see how later Libra will be on the market.

Where Libra needs to be regulated and controllable it would play out as a competitor for the fiat spaces with some crypto aspects to make it fancy. May Libra succeed it is something next to Bitcoin despite the price or projects Libra rolls out.

Jumping on the bandwagon indeed and its a heavily centralized one even if they would tell that this one is a crypto but it isn't really that different into those fiat/traditional payment option but at least they do make use of crypto which i do see some side advertisement of crypto and for those who got curious on what it is then they might be dragged up with
the whole idea of crypto which leads to BTC and other altcoins in the market.

It might take time for the yet to be release Libra to overtake bitcoin. I doubt if libra can really match the huge market capitalization of bitcoin in just a few years time, bitcoin market cap at present is $170 billion. Libra is reportedly a stablecoin and price is fiat-based so its main competitor is banks instead of the cryptocurrencies.

In terms of market cap Libra will of course overtake bitcoin at first. There is no doubt about that. Since it is a stable currency it has nothing to do with bitcoin and also it is mostly centralized.

It's not possible to happen since libra isn't that profitable as bitcoin and we cannot trust since this coin hasn't yet established good community. We can't fall easily on new coins even though the appreciation tried to create possible hype, then it could be used by other whales to take advantage towards market potential.

Libra will see huge adoption because of the company backing it up,they have what it takes and its been backed by fiat makes lot of sense to me but its nothing comparable to bitcoin,many will want to use Libra than other coins backed by fiat

About 70 millions of people owning Bitcoin. I can´t even imagine how many people could use Facebook coin when starts.
So it would be pretty easy to overpower Bitcoin.

There is no coin whether new or the previous has no capability of surpassing the Bitcoin. As you know Bitcoin is the concept used for the first time which is evolved in the year of 2009 and not it has gone far away from it's beginning. The evolution of the Ethereum and the other coin and the cryptocurrency are the copy of the Bitcoin concept and evolved just 4 year back. So, Now the upcoming Libra coin will be also a new coin and can't tackle the Bitcoin ever.

Well,,, I used Facebook for many years, same as google, but I never bought anything for my google wallets or facebook wallets. I think a lot of people should be wary of FB now about their personal data and they will not just enter anything anymore with the worry of the safety of their information. Facebook coin is stupid. You think the marketplaces with blockchain will now add FB coin?

They both serve Diffrent function, libra is a centralized coin unlike bitcoin they both just share the blockchain technology.  Facebook libra has an edge over bitcoin in terms of marketing,  facebook libra is owned by a big company so its marketing budget is big

Of course not and Libra is a big joke on cryptocurrency. Most of the people who have studied the blockchain know that its foundation does not have the purpose to support decentralization. The recent congress hearing about Libra is not even on their side because probably the private infromation that FB sold has made its mark.

hell yes, totally agree.
libra is libra , and bitcoin is bitcoin.
no matter how popular libra someday , people still asking what the first came from, and of course,BTC.
and btw , why people still think Libra will be the top of crypto ,
because basicaly it will be Centralized.
also i hear from somewhere it will be same like another stablecoin.

is that the latest news?
lots of big companies actually behind the Libra coins. but that won't be enough to defeat bitcoin. Libra may not be much different from USDT or other assets. they don't move a lot, are more stable and that depends on the use of their platform too.

Libra will not achieve much by comparison to the advantages offered by bitcoin, any attempt by the Libra team to make it much more "crypto" such that it serves a unique function( other than those offered by traditional banks) will certainly be faced with a huge backlash by regulators. The US already expressed their concerns on Libra. Of what use is a crypto asset if it is in direct control by the government or some corporation

I think all projects after Bitcoin have a big ambition to defeat Bitcoin but in reality nothing has gone beyond Bitcoin, Even though Facebook has a very large user, I'm sure most of them don't use Facebook coins.

If we take into account that the majority of users on Facebook uses this resource only as a social network, then I very much doubt that all Facebook users will want to use this resource as a payment system.  Of course, quite a lot of people use Facebook for their business purposes, but this number is still not the majority.

totally agree with you. there is no need actually for libra. the people without bank account wont be able to get libra. the next thing is i see no sense to use libra for me. first of all i have no facebook anymore for some years now. second is, when i buy something i can still use paypal.

Nice to wait. Altcoins with a beautiful platform, WP or roadmap filled with green when they were born, are always praised and many also claim that it will outperform bitcoin with all the evidence and technical analysis. But they all feel a reality after that, bitcoin always wins. Libra is also among them. ;D

To Buy = spent fiat to receive fiat equivalent (Libra)
To Sell = sell fiat equivalent (Libra) to receive fiat, minus fees two times

Lets assume 100 spent and one year hold and low exchange fees, so get 99.80 back
Lets assume inflation in that year is 2% so value (buying power) after one year is 97.80,
keeping cash in the pocket for the same time value is 98 and no hassle with exchanges

 In 1909 The Model T sold for $850 which is equal to $20,513 in todays money.
 (https://www.inflationdata.com/inflation/Inflation/Cumulative_Inflation_by_Decade.asp)
BTC, BCH, BSV reward halving every 4 years (after next halving coin emission rate is 1.6%, 0.8%, 0.4%.........)

No, he wont be able to do this. Libra is aiming for a stable coin and only be used for facebook's transaction in my oppinion.
So there's no possibility for Libra coin beat Bitcoin on price or popularity among traders or cryptocurrency user.

Long time ago, Ethereum will beat bitcoin and now bitcoin still number 1. Come on if libra want to take over bitcon, he need to replace cryptocurrency pair Bitcoin into Libra Pair.