Bitcoin Forum

Hello everyone so now i want to share a very good information with that the facebook community says the the price of facebook will be stable like a USD so its mean that there is no threat for bitcoin because all investors want that they gain more profit in short time that  is why they invest their money in bitcoin because the btc price is fluctuated and for good investment need the unstable price.

who said it is?
the only reason why there is a lot of talk about it is because of the news sites that were desperately waiting for something to write about and that has been bringing a lot of newbies attention to this coin, which in my opinion should not even be called a coin. we should call it a centralized online payment processor.

by the way it has nothing to do with price and bitcoin is not an investment, if it were then its price would have tanked hard a long time ago just like how altcoins get dumped and never recover again since altcoins are purely for investment and have no other usages.

Nobody thinks Facebook Libra will be a treat to btc because they are not in the same league, the only thing i see about libra is that there are lots of media attention to it unlike other alts, Ofcours fb itself is well known social media platform used by millions all over the world and that makes Libra have an edge over others.

So it will be a stable coin? I read their whitepaper and this point was very vague to me. I really couldn't understand the use of Libra. Just that it will be used as a financial instrument.
If so, then why should investors buy Libra? There are already stable coins in the industry. It won't make any difference to the crypto market.

Purpose of Libra Coin (Facebook Coin)
Facebook aims to reach 1.7 billion people across the world, especially the ones who still don’t have their accounts in any of the banking institutions. They want money to be as accessible as sending a text message. Its main motive is to reach the section of the society who doesn’t have easy access to the financial institutions. As per the FDIC (Federal Deposit Insurance Corporation) estimates, in the U.S., more than 8 million households are unbanked. The currency’s potential reach is beyond the United States and includes all the parts of the world.

Libra is backed by most of the prestigious financial institutions like PayPal, Visa, MasterCard and other companies like Uber, Lyft, Spotify, Ebay and Andreessen Horowitz. Facebook aims to make Libra available through Whatsapp and messenger users, who can cash their local currency to buy Libra. With Libra, FB users would be able to exchange their dollars for Libra tokens, hence entrusting the fellow backers with building a reliable ledger of all the transactions, as said by Kelly, CEO, and founder of BKCM and BTC expert.


How Libra is different from other Stable Coins?
Stable coins like Tether, TUSD, USDC, PAXOS, and others are pegged to a single fiat currency. But in case of Libra, it is not pegged to a single fiat currency, but backed by a basket of assets denominated across 4 fiat currencies: USD, EURO, GBP and JPY.

Libra will be backed by a fiat currency if the following standards set by the Libra Reserve are met:

1 Only fiat currencies with a free float will be eligible while the ones that are soft-pegged would be redundant in the Libra reserve.

2 The decision-making process should be tied to either public organizations like Central banks or a free accessible asset like commodities.

3 The fiat assets must be universally recognized across various jurisdictions to have a programmatically quotable value.

Article source: https://coinswitch.co/news/facebook-launches-libra-coin-what-can-you-expect-latest-libra-coin-news

closed source, private blockchain and in one word centralized coins don't have to be pegged to anything. the company that owns them decides their prices and if they say it is worth $X then it will be worth $X without needing anything else.
it is like arguing how is PayPal a stable coin! they take your dollars and give you equivalent in PayPal tokens on their centralized database. that is exactly what Facebook coin will do.

At first place, who said that it is a thread for Bitcoin :D.

I think that Libra coin is just another altcoin that will help to spread the knowledge regarding cryptocurrency. Since this is Facebook coin and many are using Facebook around the world, many will become curious about it and will do some research on it then they will decide if they will invest or not.

No launch, no threat. 8)

I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.

Exactly, bitcoin is far better that Facebook Libra, the only reason it is making a fuss because it is a coin from Facebook and as we all know that Facebook has a lot of user's thus they can use Facebook to let people know they are launching a coin. Well, I don't think Libra will have an edge because not all Facebook user's are into stale coin, it may get interest from Facebook users but I don't think it will be able to beat bitcoin.

Based on my past experience with the CEO, they will never pull back but bet you mate that, the regulations will be tough but they will endure and push the coins to the people, but the beauty about this is that, after sometime with the people, they will realize that they are just wasting time with centralization and they will drift toward Bitcoin at the end. This will equally boost the surge we are expecting in 2020-2021 and it will be materialize.

Facebook coin is not only threatened for BTC, but for a coin at all. Libra is just a simple stable coin attempt. But there is more to the market than it should be. I also have a very stable stable coins as I have signed. Why would we need Libra? Just because Facebook is behind it?

Initially, no one said that the coin of the social network Facebook carries some threat to bitcoin.I’ll just say I’ll be happy if even more people find out what a cryptocurrency is and will use it massively. The stablcoin can compete with Bitcoin a priori just can not.

How can you say that it will affect BTC?

There is no way that Bitcoin will be affected by the new cryptocurrency made by Mark Zuckerburg and his company. Just think of it like this, when new cryptocurrencies are released in the market, does it affect BTC? No, even with good currencies and good projects, it will not be affecting BTC especially this currency is connected to fiats.

It is definitely not a threat. Many people are just hyped about it. Facebook coin will be a stablecoin meaning no huge pumps will happen. Although it will help introduce the blockchain technology to more people and associated with that ofcourse bitcoin.

I don't agree with it, somehow there's a little effect as this coin although it was announce a stable coin is still a cryptocurrency, well, bitcoin is.
The effect is just positive, it will make crypto popular as people will believe bitcoin is legit since facebook is planning to start their own coin in the crypto space.

I think we've seen it now, this  baby bull run that we are witnessing could somehow be an effect of the announcement of facebook.

 I also don't see it as a threat to bitcoin because people knows it's the new gold that is just digital. And facebook's coin is not a real crypto and just pretending to be. Also, a lot of people in the crypto community has expressed their hate on the Libra coin and they don't like it. The privacy is going to be a big issue on Zuck's coin and internet users are starting to get the awareness that they should always take care of their private information.

Bitcoin  will still no. 1 in cryptocurrency even the facebook coin launch it will not become threat to the bitcoin. Popularity of the facebook coin will become better but not the potential I think. Many coins and many company who is really popular too created their own coin but look now bitcoin is still the king.  I don't see any reason that facebook coin will be danger to the bitcoin.

This. As I have said in the previous thread, Facebook has somewhat open the pandoras box, now every regulatory board not just in US but in UE as well are going to target Libra and they're going with all their might to push this project. They won't allow Mark to take over again with this so called coin that is closed and centralised.

I particularly don't think that it is later. It might be for a lot of alt coins though.

So the investors of altcoins are the ones who should be scared. It will probably displace a lot of them down the ranking and get a pretty high spot. I wonder if it would be able to surpass Ethereum.

The privacy issues they had definitely affected their customer base. But memes defend them pretty well.

well facebook coin is not really a threat to bitcoin but bitcoin will still get some benefits from it like getting more adoption and making more people aware in cryptocurrency.

A stable coin like libra is not likely a threat to bitcoin's throne on crypto currencies. Libra is centralized while bitcoin is decentralized that no one can govern or control things, so basically we don't want libra, we want bitcoin to still reign because that's crypto currency is all about. Libra is just making noise because it was advertised on mainstream media and everyone got hyped about because it was created by facebook but it doesn't matter, all still wants decentralized system.

i honestly don't even understand what all the commotion is all about when it comes to this project by Facebook. people seem to have forgotten some of the ethos that bitcoin introduced to them such as being decentralized and cutting the middle man off! the way they are talking about Libra shows they don't either understand or care about these things.
in other words we shouldn't even discuss this thing in a bitcoin forum if you ask me.

Yes facebook coin libra will be much different compared with bitcoin and i dont think libra will become a competitor for bitcoin instead i do think libra will bring so much balance in crypto space and also will make market more bigger than right now.

I read in an article congress are requesting to pause the launch of Libra until the congress and regulators have fully examined it.
also there are some members of the congress are concern that facebook is becoming "too powerful".

Since the beginning of the news about Facebook coin (Libra) appeared, I did not agree if it would become a threat to Bitcoin. And for me it's a little impossible, how could that happen. If it becomes a threat to stable coins, maybe that is true. I know that many people are waiting for the launch and want to buy when they are registered in exchange, but that will not affect Bitcoin. And bitcoin will still be the king of crypto.

because libra is a stable coin, I assume that libra is limited to digital payments not purely cryptocurrency, even though the demand is high the price will not increase and will not threaten bitcoin. libra seems more feasible compare with alt but not with bitcoin.
in the digital payment environment Libra is believed to be in control because of its ability for multi payments but not in cryptocurrency global market.

I also don't think that facebook coin is not yet going to be a threat to bitcoin. There is no other coin that can make a profit as fast as bitcoin since no coin can fluctuate like that. Even though Facebook aims that it will be used in a wider base, bitcoin still beats it in that aspect.

While you are worried that Libra will negatively affect Bitcoin, Bitcoin's price has reached the price of $ 10k6. Don't worry because much of the information that Libra will be stable coin, so it's like USDT, is not a threat to Bitcoin. No need to worry because Bitcoin will always be the king of Cryptocurrency.

Kinda true although still potentially steal the money from bitcoin's market cap but it's exist as a means for saving anyway. People will still convert to BTC at the end of the day. I think that facebook is just trying to earn fortunes out of the transaction that's made daily. Just like any stablecoins existed.

it was never a threat to bitcoin it was always suppose to be used for a completly diffrent thing then bitcoin, its more of a token then for storing value.

Probably. But if it's become regulated by different countries especially America and China, I believe it's going to rule out Bitcoin.

If facebook coin price will stable like USD, it is hard for the investor to search for profit. The investor will find the other coin which could give them a profit, and I am sure they will find from the other coins. The investor needs to analyze the other coins price so they can buy at a low price and sell at a high price. If the investor can get a coin which has a gap for the buy and sell price, they will be able to make a profit. I think if Facebook launches their coin at the market, it will give the traders to find more profit.

The Facebook crypto-currency is definitely a threat to all other crypto-currencies.

It will completely different from how bitcoin was desired to be used, being stable and centralized will means that there's parties who will control this
project it will be best being used to cater FB users and those who are not really aware how crypto really works they should have different target audiences so it will not become a threat but another working partner to bring new players inside this industry.

The Facebook crypto-currency Libra seems like the biggest threat yet to emerge since Bitcoin started. I am not a fan of Facebook. I do not like the idea of Libra. Libra will cause too many problems. Libra is definitely un-friendly for the crypto-sphere and people here in all ways imaginable. Bitcoin is a disruption with healthy technological visions for the future. On the other hand, Libra is just a bunch of problems for everyone.

Libra was designed to take the fun out everything and cause problems. Libra has bad intentions.

I don't think Libra is a threat to Bitcoin despite the fact that Zuckerberg is behind this project. The community does not pay attention too much to Libra compare to Bitcoin right now and as for me, Bitcoin still better for long term investment.

Yes of course it's not, only those people who think FB coin is a threat for Bitcoin is not doing their researches right and over reacting to this issue.

When Facebook decided to create their own blockchain and coin I'm sure that they've seen a potential in this project and they'll not back down, it's good for cryptocurrency itself because a big social media platform will starting to use and innovate it.

I don't think this is going to happen. Maybe Facebook has such ambitious but it's not very likely .
Although it's promoted like safe and and secure coin backed up with some real money and real money transactions I don't think this is enough for success and enough to attract users. So far Bitcoin isn't in any danger and I don't think this is going to change.

Yes, we should do it. Facebook is not a crypto coin, they will use the Blockchain Network, that's it! Facebook's Libra coin will be used as a payment procedure in Facebook's native apps! Though we don't have any official source for it, but I assume this will be the truth about the Libra coin!

Every altcoin aren't for just investment, some altcoin has a very good technology and plan! They are working hard for the crypto mass adoption, we should appreciate that!

Basic stuff.!

Why people try to tie up anything with Bitcoin?It wont really make any effect or do have threats to bitcoin.
Stable coin vs a volatile one does really have their own purpose or market.It do just depend on where people would
tend to use it up.

Even if the Libra was a volatile coin like the bitcoin and other coins, it still would have been no threat to the bitcoin, bitcoin has more trust by the people and has more secured network and operates on a very sophisticated technology.  Anyone who has tasted bitcoin has no choice than to keep looking at it for more gain. Bitcoin leads and continues to lead while others are altcoins and will continue to be altcoins.

If about 50% of facebook users decides to try facebook coins because of the companies reputation, won't the demand of the price make the price surge and hence call investors to convert their bitcoins for facebook libra? It is a great treat to Bitcoins and Ether.

actually there is no threat of any coins to bitcoin. even though the release of the Facebook coin today will have no effect. but it's just that bitcoin fluctuations are affected because to invest in Facebook coins still use bitcoin, but that is not a problem.

Let's not assume the price of fb coin. In the first place, facebook isn't confirming if the name will be really fb coin. And the price is still unknown whether it is a stable coin or not. However, I don't think it will be a threat to btc. Fb coin is still some altcoin, too. Let us just wait for  some sure news about it

I don't believe it too because it might one of the way of some people to attract more investors specially those newbies who wanted to have some quick and sure return because the owner of the coin is one of the biggest company in the world.

Facebook hopes that Libra can unite all crypto users lol. even though they have big names, it doesn't guarantee they can beat bitcoin,
crypto users who like decentralization are certainly smarter, they won't be easily attracted to it.

Every website wants to join the bandwagon. Just to say something even if they don't know what they are talking about. For sure, most of them don't know how to transact any altcoin out there. We should not take seriously all the fuss they are making out of it. And on my end, FB coin will never be a threat to bitcoin because they are totally different in nature.

I don't see any threat of Libra to bitcoin because Libra is in a different league which will be more like a payment instrument and a stable coin pegged with USD, EUR etc. I think the threat of Libra is on banks and not on bitcoin.

But it was Bitcoin that opened the pandora's box, and impossible to be closed again. Facebook is stoppable because it needs permission to launch. Bitcoin didn't/doesn't/will never ask for permission.

No launch, no threat.

This is just the beginning of facebook entrance in the market, if they'll be appreciated by the people in crypto, they'll surely expand.
I believe soon they will also become a competitor of Binance in the crypto exchange side, there's a big possibility as everyone wants to dominate the market.

Is there any news about facebook opening a crypto exchange though? I never heard of that to be honest, Also I'll point out that Libra could expand if there's capital, since it's backed up by fiat therefore you need to money for each coin issued, However facebook compete with Binance doesn't seem right though.

Any information with links that reliable source gives you those ideas?if not then stop fooling people because Mark Zuckerberg will not allow the Facebook coin to become stable for sure

And about being threat for bitcoin?who says it will?lol bitcoin is already stablished and well trusted cryptocurrency,things that will never break by others even that famous social media site coins lol

If 10% of facebook users use their coins it would be relatively big. People already use venmo and zelle. It doesn't have to be a good cryptocurrency; it just has to be easy to use.
 
It won't compete with btc, it will just stifle its growth.

I think Facebook coin or any other coin is not a threat for bitcoin, its called rivalry if the coin could proved that it got a better feature and the investors like it, then we will have one more good coin to used, and stable coin is not a good coin to invest and in crypto we don't like centralised investment, if we want centralised, we will just invest in fiat

The purpose/ use case of this coin is really different from bitcoin. Libra coin is going to be centralized, maybe this thing affects its popularity.

Since I learned about Facebook's plan to launch cryptocurrencies I never thought that it would be a challenger to Bitcoin.
no matter how good Libra is it won't make bitcoin number 2 on cryptocurrencies.

in my opinion, BTC investment to take a profits.  and Libra investment to save assets.  but everything is my choice, including gold is also my investment choice, but now I prioritize BTC and ETH.  and Libra is part of my plan.  I agree, that Libra is not a threat for BTC.

It won't be just enough to make bitcoin the 2nd crypto in the bitcoin, bitcoin will always be the top crypto of all.

You just can't compare centralize and decentralized cryptocurrency.

Facebook coin (Libra) was never going to compete with bitcoin  because it's a stable coin. It will take much more than just this to unsit bitcoin

Facebook coin is not a treat for bitcoin, my reason i can analyzt facebook as popular social medias company use worldwide it bring it to the whole crypto to introduce and encourage to all people to invest in bitcoin or crypto by the help of this new facebook coins.

I think there's no reason why we should worry about the developing coin by Facebook because it is not a big threat to Bitcoin. I other words it can't be affecting the whole history of Bitcoin price so however if Facebook should have a great development about their coin it would probably help Bitcoin not to threaten.

When you make this sort of post, please back it up with some source. You just can't use this sub-forum to paste your random thoughts.

From what we have heard, the Libracoin (FB Coin) will be backed up by real assets and its exchange prices will be determined by the market dynamics. Now that goes against your claim that it's exchange rate will be pegged against one of the major national currencies. You can check this source:

https://www.ft.com/content/af6b1d48-90cc-11e9-aea1-2b1d33ac3271

Bit coins are currently successful in the market. And Facebook is successful on their social side. So I do not think there is any comparison with the other. So one platform can never get overnight in other platform. If the Facebook comes in the market and they will take a lot of time. To go to a place like Bitcoin.

Indeed, a stable coin can't compete to a coin that can move up high easily and beside from being a stable coin Facebook coin is centralized and right now they are facing a big pressure from the US Government so investors will have doubt now if its continues to become a problem. Adoption with cryptocurrency is good, more companies will go and compete with each other but they can't create a threat to bitcoin because its a strong coin and many investors will backed up bitcoin.

Not a threat but it will be direct competition and not only for btc, because some people will sell their coins to jump on the libra, maybe they will not sell all, but at least will be a market with a nice revenue.

To be clear, it will not stop bitcoin, it only will run on its own side.

Libra is a stable coin, right?

What are the reasons why people choose this coin over bitcoin when they've seen how profitable bitcoin is.

Check my previous post. Libracoin is not a stable coin. They are claiming that it will be backed up by real assets (such as cash and bullion) and the exchange rate will be determined based on the supply-demand equilibrium. Considering the fact that many of the tech giants are supporting this coin, I assume that it will be able to attract many hundreds of millions of users. At the same time, they are saying that this coin will be available only in those jurisdictions where cryptocurrencies are legal.

Libra will help to spread cryptocurrency awareness throughout the world. At least that is the good thing so far from libra to the crypto world. Meanwhile, we don't need to worry about Libra being a threat to the existence of bitcoin. There are already lots of alts out there and bitcoin is still unshakeable!

Will Libracoin be banned in countries such as India? I think that the creation of Libra can be a blessing in disguise. It will remove the taboo faced by the cryptocurrencies, since it has the approval from most of the major tech giants. Although it can emerge as a competitor for Bitcoin, my guess is that most of the users may be first time crypto users and there is a good chance that some of them may shift to Bitcoin later.

Yeah you have a point, most of the investors will not invest in Facebook coin knowing that they cannot gain much in it's prices as it is more stable compare to other crypto currencies out there.

Most of the investors are looking for a good profit in a short period of time and crypto currencies who are not that stable are good for them because if you can predict the correct price to buy and sell then you can surely boost your profit.

Is it? I don't think Libra will be a stable coin. Where did this information come from? Source?

I think this Facebook coin is still worth mentioning as a coin because the coin adopts blockchain which has cryptographic basics. It might be called a coin ripple, yes this coin is centered like a ripple.

Right, I think that Libra is not any danger to Bitcoin. This is something completely different, but I think that (maybe) thanks to Libra, some of the toppest brands like Visa, PayPal or Mastercard etc. will support the platforms where you can buy Bitcoin like for example buycoinnow (https://buycoinnow.com). That would be great if Libra were the beginning of a "buying revolution" in the cryptocurrency world

I would love to buy Bitcoin using PayPal, that would be a great solution and I think that many people would be grateful for that. We could finally buy cryptocurrencies quickly

This is what many people need to know, read carefully  a whitepaper if he finds a new project. I've been looking a lot of thread that stated the user of bitcoin will be easy to move their investment in bitcoin to libra coin whilst when I read the whitepaper of libra there isn't made me interested that it is a good place to be choose for an investment place. Nevertheless, I must give a flattery sentence to libra coin because when the rumor this coin came has been changing the sentiment market of bitcoin. I believe the increased price of bitcoin from $5000 or below was helped by this coin information which make a lot of investor or newcomers believe that bitcoin is real and really safe to be say as an asset.

I can say that the recent upward trend in BTC  is because of the announcement about facebook's Libra coin whitepaper. Facebook coin is indeed not any threat to our original crypto, BITCOIN so I am much happy to see things go the way they are going and I hope to see more when it is fully launched

When it is planned to launch another cryptocurrency on the market, a large brand like a facebook arises more doubts than joys. Even using a blockchain, can they guarantee the confidentiality and security of user data? What about past scandals, where did the whole world find out about the flaws in their privacy system?

When it is planned to launch another cryptocurrency on the market, a large brand like a facebook arises more doubts than joys. Even using a blockchain, can they guarantee the confidentiality and security of user data? What about past scandals, where did the whole world find out about the flaws in their privacy system?

They ultimately have a grandiose goal to compare with Bitcoin in popularity and make a very flexible product that will allow a large number of users to send cryptocurrency without any problems and use it for purchases. However, on the whole, the society is not prepared to start using cryptocurrencies en masse, since speculations are too strong

The society is not ready, because there are not enough popular sources where people could learn how to use cryptocurrency. I am glad that I found the project taklimakan, he helped to deal with many terms and understand how to trade on the crypto exchange. But we still continue to see cryptocurrency price manipulations. So it will be interesting that Facebook will be able to offer users and investors.

I perceive the expansion of the cryptocurrency market positively. Because there was a time when people did not believe in the blockchain. But now it doesn't even matter which companies, facebook, visa or paper are launching their coin. All this shows the value of the blockchain and reinforces public interest in it. So people can better understand the true value of decentralization and the power of blockchain technology, and innovation can start to happen faster and faster.

Facebook is going to partner with dozens of the most wealthy and powerful mega-corporations in the world and they are going to buy up Bitcoin so that they control the market as much as possible. That is what Libra is. They say it is just a harmless token but they are just going to partner up to take over Bitcoin. Libra takes the balance away from de-centralization and placing it back into the mega-corporations pockets. Facebook is up to no good as usual.

It is no different than Facebook saying we care about protecting your privacy. They don't.

I don't agree with you.Libra will be the next main competitor of bitcoin in future. US and other governments around the world will also support the Facebook's pride coin Libra.Main reason is governments  and facebook company can control your account.They will  track very transaction you made..If any thing its looks like suspicious, they can block the account and seize that.Just like as bank transactions in nowadays.After the Libra spread then they will start the war against bitcoin,that the coin they can't control.They introduce the alternative coin for you.Now you have nothing to say.

The Libra white page does not mention Bitcoin at all?  That is like the Trojan Horse identifier.

That is best thing to do say for Libra.A Trojan horse.A Trojan horse send by the anti-bit coiners like banks,government and ect. If we caught for this trap it will be the beginning of ending bitcoin.Whatever they say don't caught for that.A bomb covered with chocolate layer of whitepaper which didn't even mention the king of crypto-currencies.     

I don't think that even their intentions was to compete with BTC in the first place.

The fact that they are structured much more like a centralised stablecoin means that they essentially acknowledge the fact that they won't go into the decentralised market (probably due to regulation as well), and that their primary competitors will be traditional banking institutions, as well as the issuers of existing stablecoins.

This is why you see articles that state concern about Libra's legality, because a lot of people in the banking industry is concerned with the competition that it brings.

But even if it's not a direct competitor of bitcoin, should it be used? No. It is very easy for them to base their currency off fractional reserve, and in which case, it'll be no different to traditional bank deposits except they may be subject to even less reserve regulation.

I agree on you.This current growth of bitcoin might simply because of the said launching of facebook coin.I really think that facebook coin is not a big threat for bitcoin because bitcoiners will always go on a coin with full of fluctuations because it gives them thrill to see prices suddenly rising up and knowing facebook coin,it is just like USD that has a stable price so investors would not likely to benefit from it.

The sooner Libra will go live, the better is for Btc. Most of the people who buy Libra will start to get familiar with cryptocurrency.

This might open the appetit for other crypto,  as well, most likely Btc will be on the short list.

Definitely agree with you here and think that the more cryptos coins the better
Some people think this bull run is because of issues that libra is facing and I wonder if this is true.

Facebook has already clear that they have nothing to do with the Bitcoin yet its "Libra" has an impact on the Bitcoin though it is completed different venture of Facebook.

There was never any threat to bitcoin. Bitcoin is the king of crypto.

Never, Dear remember that in the world many strong authorities and people have tried to degrade bitcoins from the market and no one get success. Yes bitcoin get some panic time but never down. As far concern to facebook coin i-e libra then there is a big difference between libra and bitcoins like Bitcoin will never show your identity that who you are and never expose your information or money to any where while libra will expose your identity and will never keep you secret. Just like that there are various things which are most beneficial in bitcoin and due to that people from the world like bitcoin as compare to other coins.

No need to excited dear brother. Sinet has not accepted Libra still now as they can not trace crypto currency buy and sell group. They think that it may used in wrong way so that they did not accept it in their house.

So first think its acceptance and then price and stability.

Thanks.

Of course there will be more choices for traders to find their daily income, if you think about it, precisely with the Libra coin making the Cryptocurrency population increase with the existence of Libra coins, and there will be more and more new users using cryptocurrency.

I strongly believe that in the coming year there will be many big companies, to take part in developing Cryptocurrency in the future ...

I can't comment too far, because we haven't seen for ourselves whether later Facebook coins aren't like bitcoin? and what are the benefits for us to buy the coin. When compared, it remains a bitcoin that is targeted by investors.

Although if they partner with the most wealthiest cooperation around the world or whatsoever, Bitcoin will still stand and can't be control by them put together becasue of it decentralization. Remember, even if they choose to buy up Bitcoin never will they be able to do so becasue of the Bitcoin supply volume, it will take them decades to do that. Facebook can't be a threat to Bitcoin never will it be.

Since Facebook announced their coins, I don't see that this will be a threat to Bitcoin. Facebook has a different purpose than Bitcoin and maybe it's just the adoption of their same technology.


The advantages of buying Facebook coins? You can only buy Facebook games and promote your ads through Facebook ads. They will make Libra like Paypal, only for transactions on their platform.

Who said that facebook coin is threat for bitcoin???
It will not possible..  we are just talking but this is not true..no one will be the threat  for bitcoin.. dnt worry

It will help not only Bitcoin but the whole cryptocurrency world instead

Remember ho popular Facebook is and what advertising this can bring to our community here,the majority of the people that may invest in their coin will have positive looks in crypto and in the end?they will also buy other coins specially bitcoin to bag hold.

This coins popularity is now spreading the cryptospace and in short period of time the effect will surely be on our table.

Yes may be it is possible.  But i am not sure about it..
But this is not possible i think.

I'm afraid it might not help in this case. Visa and Mastercard are already partners of Libra, which might suggests that when this coin will finally become  a thing, there will be an option to buy it via credit card. But, it all will be possible through Facebook infrastructure. It might not influence BTC in any way. But it doesn't mean that services like buycoinnow won't develop (I wish the best for them) - it's just not depend on Libra success.

I don't even think of it as a threat for Bitcoin because it isn't something that could compete against Bitcoin.
The great thing about facebook coin is that it would bring us more people in the crypto industry .
People would first choose it since it is what they think that is secure then after a couple of studying crypto they would surely jump over into Bitcoin.

Well, after the recent news about Libra surfacing to the internet it kinda attract more people and makes people seek knowledge about cryptocurrency and blockchain and that's not a bad thing in my opinion. However I doubt that people who already get used to such centralized coin issued under a company will move to decentralized things that easily, they will always afraid of changes.

Upon introducing of Libra, Facebook said that it is not designed to kill or compete with Bitcoin. According to David Marcus, BTC is an investment asset while Libra is a stable medium of exchange. He also differentiated this two, he said that libra is good for payment purposes while bitcoin is a vehicle for long term investment. Let's see how people use this according to its purposes.

Facebook is going to launch a stable coin. Moreover, the owners of this coin will share with Facebook all personal data. Bitcoin is anonymous, therefore if someone needs anonymity, Libra is definitely not for him.

in any case, users of social networks are not the people who are worried about the anonymity of their identity.  By the end, because of this, I who will use the libra will not raise the appropriate question.  in any case, we will see results in the near future, Although the communities of those users who have gathered under the auspices of libra are very large.

these communities have no relations with cryptocurrency. they are just users of social networks. they play no role in such questions

to exceed the price of bitcoin I think it's difficult to happen now. Libra is a newcomer who is very enthusiastic about talking about people, and this is in my opinion a fantastic future project owned by Facebook. Hopefully Libra can really compete with other coins and gain trust in the community.

I believe this as well because if you are establishing a stable kind of coin, you are only doing so to help people to hold their crypto in a stable form in case the fluctuation is too high for one to bear. Most importantly, facebook is a notable community that will help the mainstream get into crypto bringing the new world adoption.

People have only been saying what they liked and have only made their opinions known despite not reading the whitepaper of the Facebook coin (Libra coin).
I think the white paper is out already and we all need to take a look at it in order to confirm the information that anyone might have given us.

Libra is indeed a stable coin.

It's confirmed in this news - https://cointelegraph.com/news/libra-project-facebook-stablecoin-aims-to-conquer-online-payments-market-reports-suggest

I couldn't understand this from the beginning. Why the hack is Facebook coin going to be a threat for Bitcoin? There are extremely many coins out there and some of them have great ideas or working applications which are handy but they live in peace with Bitcoin.

Of course, the libra has many prospects; this coin will have a serious rise! But Bitcoin is the first krypovalyuta, and no one will win, even for the sake of respect for Bitcoin. This is purely my opinion! I wish you good luck friends!

rise ? no it wont rise because i heard this coin was a stable coin just like usdt which means its value will only  remain at 1usd but its market cap can rise if ever this coin will become indemand  .


what the f is krypovalyuta means ? is that a new word ? i will try to search and google this word later . edit : google dont have any reults for this word.

fb's coin libra is not in a competition . its just facebook created this coin because they do not have thier own payment currency yet  . its also not in a competition to btc because like i said earlier , libra coin was a stable coin  .

There is apparently no coin that can be a threat to Bitcoin. Bitcoin is the true definition of decentralization and till date still stand as the best decentralized blockchain. Many coins have entered in this space with the mindset of beating Bitcoin yet none has been able to beat ETH in the long run let alone Bitcoin.
The truth is, majority has seen the potentials within Bitcoin and have understood its long term viability thus sticking with it. Facebook coin on the other is yet to launch and feel what it means to survive amidst challenges so I wonder how it will be a threat to a coin (Bitcoin) which has survived for long and keeps growing.

Facebook`s Libra really are not a threat to bitcoin because they function differently, also base on my observation, Libra one of the factor why the price of bitcoin is skyracketing. Since libra became a trend, bitcoin`s price started to rise.

very agree ... because facebook coin has never been in circulation and in any market ... so we have never known how the durability and strength of the coin ... so it has not been proven ... but different from BITCOIN that has been proven and known throughout the world and there have been a lot of issues about a coin that wants to rival and blame Bitcoin ... but finally no one has managed to compete with bitcoin ... so Facebook is not a threat to bitcoin ...

Libra is not a threat to Bitcoin but it is a threat to all Facebook users
Facebook will increasingly gather more information about its users thanks to Libra

Any new coins in the market is not a threat to Bitcoin. Bitcoin has its own distinctive characteristics. The new coins will enter the market with its own distinctive features. Look at the market, as soon as Facebook declares its coins, Bitcoin prices have reached an upward trend. Imagine, Libra market will actually increase the price of Bitcoin again.

Some people believe that because they see that Facebook is managed by a strong team, and they see the facebook coin can beat bitcoin. But to be honest, it will difficult for the facebook coin to compete with bitcoin as bitcoin is the leader of the cryptocurrency and besides that, the facebook coin will need to prove to the public that their project is worth to invest. Many people still believe in bitcoin because bitcoin is unbeatable until now, and they don't think that facebook coin can compete with the strong altcoin list in the coinmarketcap.

I think that the rise in the price of Bitcoin has nothing in relation to the emergence of Libra. I think this is a simple manipulation that is used by major players. New coins can not influence on the Bitcoin. that's how I think

Facebook coin or should we say LIBRA will never be a threat for bitcoin.
IT is a bog support for BTC and the cryptocurrency.
The movement is getting better and with LIBRA, there will be a huge acceptance.

LIBRA COIN is the one of the biggest and strongest support for BITCOIN and the community of cryptocurrency.
It is not a threat, it is a great support that will open so many eyes of people and countries to start doing and accepting crypto.

Facebook benefits the cryptocurrency and its own company. A Facebook coin is sure to do nothing for Bitcoin

Just a thread to coin like USDT and people who consider cypto currency as an investment will not hold any libra coin but they can claim they they are more secured but centralized system is completely against the crypto currency.

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

Facebook is having a lot of trouble since officially announcing its own currency, and the details of this currency have not been released yet. So now I will not compare it to Bitcoin or can pass Bitcoin...

For sure facebook coin isn't a threat, because it is just stable coin and bitcoin fans will never ever try facebook coin even just for fun

The biggest threat against Bitcoin is the centralisation and it will be a huge barrier for the development of crypto industry. After the introduced Facebook coin, conditions are changed badly but it only offered one advantage to the cryptocurrencies: Faster mass adoption.

Don't think of negativities on new upcoming coin of facebook, we're being paranoid all over current speculations. Just let it go and let libra do their part as a team, because in crypto freedom is the great way to express how people really trust a certain decentralized currency. The future can decide, and if some would prefer to say this coins could be a threat then so be it.
Bitcoin is a stablished cryptocurrency, I don't think facebook coin can do the history of using bitcoin to buy a pizza hut. Reality will open your mind, don't trust quickly that's very important.

I think the Libracoin is different from the Bitcoin so that the appearance of Libracoin will help the cryptocurrency market improve and recover in the future. Libracoin is the lever, attract the other company to release coins in this market.

It will surely increase the awareness but Facebook as a social media can use its power for centralising the whole crypto market. Traders will use the alternative stable coins instead of Libra coin. In my opinion, the advantages of Libra will not surpass the value of Tether.

I have never had it in my slightest imagination that Facebook coin was ever a threat to Bitcoin. Facebook coin might have the hype and the publicity but i bet if crypto investors would invest into such a cryptocurrency. Most altcoins usually end up as a useless coin and facebook coin could be on the list. Investing into BTC has always been the best choice.

Day by day many coins are listing but bitcoin will be unbeatable. It is the world's best popular crypto currency. Facebook coin won't be able to beat bitcoin. I am also thinking that Facebook coin libra will be a stable coin where bitcoin is not.

I don't think this coin ever posed any threat to bitcoin. Even if it was not stable, bitcoin would not be affected. Still, everyone would also continue to buy bitcoin.

I do not think all the coins that are issued after bitcoin are altcoins , and it is unlikely that they will be able to replace bitcoin , but a worthy place in capitalization can take!

as far as I know, until now there are no other altcoins that are a bitcoin threat. bitcoin is still a bitcoin, it cannot be compared with Facebook coins. then how can you speculate that Facebook coins are a threat to bitcoin? while they are still new and not even released in the public. I think if later Facebook coins appear more influential on user adoption.

Facebook credits is pegged to fiat currencies and the ultra rich providing the bags of cash. Sure it will be strong enough as long as the node gang wants.

FB coin will never be a threat to bitcoin. If users will only be educated about the differences of libra vs. bitcoin, I bet in the end, they will choose bitcoin. Who would want to expose their identity to these big companies that are in partnerships with libra coin? I sincerely think that those partners will have access to most of the financial transactions of their users. Privacy is at stake with this coin.

But I think it won't be that influential. Though we can't say that Facebook coin is a threat for Bitcoin but it possibly be considered as a competitive coin in the future. We know how Facebook itself known to everybody and some instances that people will choose this base on popularity. ut taking into the account of being a threat with BTC, I've never seen it.

It is strange that someone thought that this coin could harm the reputation of bitcoin. Bitcoin continues to be the king of the crypto market.

No altcoin can be threat to Bitcoin. Let's see Btc as the foundation other cryptocurrency stands. Foundation of a house carries every other segment of the house. Fb coin is to be used on facebook platform Btc is a mode of payment across different networks.

I don't think anyone says Facebook coins are a threat to BTC, because it will be a stable coin so that it will not affect Bitcoin as a means of investment.
but in paying metode i think facebook will take demand on this.

As Libra is targeting to be a mobile bank for millions of people, I highly doubt that it will not be a stable coin. As people will not accept a currency that fluctuates more than 10% its price. Being a stable coin will make sure that their altcoin will be used be consumers, which will not affect the price of BTC.

I do agree with you mate, I only see Libra as a threat for Bitcoin in terms of popularity as well, that's all. However, they are still on different worlds (since Libra was still considered centralized) so making comparisons between them are not totally necessary at all. I admit that Libra could have a very bright future, C'mon! Just imagine the social influence of FB but on the other hand I don't think that it will greatly affect btc's price and reputation because it still got an edge especially about anonymity feature and fluctuating value of course.

For now, I haven't foresee a deserving competitor to beat bitcoin down. I still doubt to Libra for doing that because even the closest long time rival coin of btc which is eth was still no match until now.

Because this is really a stable coin, the price is stable regardless of the movement of bitcoin.
The possible adoption of Libra is huge, and this possible users of Libra could also be introduce to become a bitcoin users and investors, that's the potential I see once the project is launch.

I also think that Libra is not a competitor for Bitcoin. These two cryptocurrencies will be very different from each other. Libra has a high dependence on fiat.

Its actually a long shot that facebook coin will be a threat to bitcoin. In fact no one thinks about it actually. If it will be a stable coin then it will not be profitable just like other crypto but its safer because you can minimize your loss. Its always a good thing when popular companies like facebook are trying their way into crypto. Its a good development. Hope other companies will do the same thing.