Bitcoin Forum

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

The worst case would be people giving up their last shred of privacy and financial sovereignty in favour of whatever Libra's value proposition is.

If Libra really takes over what happens to Bitcoin is the least of my concern TBH.

I have my doubts that Libra will get far though as I don't see its appeal. Then again I don't see Instagram's appeal either so I might just be out of touch.

Libra is a stablecoin.
What can be said of a stablecoin, well its stable. (pegged to fiat - inflationary)
For 1 Dollar worth of stablecoin someone gets a Dollar worth of xyz stablecoin minus transaction fee.
Changing it back someone will get 1 Dollar minus fees.
The only difference with Libra its pegged to several fiats not just USD by looks of things.

Every large company will have its own stablecoin/token even celebs,

Stablecoins are coming, Libra is one, so is JPMorgans coin and a shit ton of others, like
https://www.coindesk.com/switzerlands-six-stock-exchange-is-working-on-a-swiss-franc-stablecoin

i dont think libra will destroy bitcoin as we can see now libra is the reason why the price pumping and i think no cryptocurrency will ever destroy bitcoin as it is more popular and more often used in crpyto world and one of the reason why many cryptocurrency is popping anywhere

Libra and Bitcoin targets different audiences.

Libra will indeed reach many people. Maybe more than bitcoin ever will but all these will only increase bitcoin's popularity in the end of the day.

People who store their wealth in bitcoin are running away from the companies like Facebook, Visa, Mc, BoA etc... I don't think think libra will be able to gain those people.

I think it will have positive effect rather than bad because with Libra launching it will help to increase the number of people that will know bitcoin as well and probably someone will invest in bitcoins hence it will increase the demand. Bitcoin and Libra are very different with each other thus I don't think Libra will be able to make bitcoin disappear.

Facebook’s Libra – To trap low income and unbanked users in a system filled with high fees and pitfalls.
http://theculturechronicles.com/index.php/2019/06/26/the-real-reason-behind-facebooks-libra-to-trap-low-income-and-unbanked-users-in-a-system-filled-with-high-fees-and-pitfalls/
Nothing new

I think libra would be successful and their owners earn a lot of money but at the end, people would look for something cheaper and decentralized and crypto will come aid. It is not a threat to crypto, i think it is an opportunity.

Worst case scenario: Libra becomes the #1 alternative payment method worldwide, big companies (Amazon, Starbucks, Ebay, etc) will be against accepting any other cryptocurrency as a payment option meaning that the "adoption phase" that most bitcoiners and crypto users want to see in the future will most likely not happen.

I'd say chances of this actually happening are not that high, I feel like at some point in the future, a big portion of the general public will get tired of these big corporations and bankers "controlling" their wealth and keeping track of every transaction they make, so one way or another, they're gonna start looking for a decentralized option to keep their money safe from the system.

For bitcoin? I don't think there is one, really. Libra would get a fair share of the market but not so much that it could make bitcoin crumble. What I'm more worried about is actually people getting in their private info in exchange of Libra, and repeating the numerous data leak bitcoin has found itself in the previous years. This isn't about the market share anymore but rather another ominous attempt by big corporations to trap people into their masked intentions for the public.

Whether it is realized or not, the existence of Libra will increase the popularity of bitcoin and make large investors inevitably also participate in monitoring the development of cryptocurrency, especially Bitcoin. Indirectly Libra has made a good impact on Bitcoin for free

All the big financial institutions are aware of the bitcoin market and the profit margin it can give than the rest of the financial markets and it is not a hidden truth anymore, the arrival of a central coin like Libra might attract people who are not interested in the market till this time and i highly doubt whether these people will get attracted by a decentralized coin like bitcoin and by the time the coin is released the price of bitcoin could very well cross $20000 and those huge valuation might not attract the common citizens to view bitcoin as an investment platform either.

People are too hyping Libra because it came from facebook. But what if this coin came from an unknown company, does it make sense? because it came from facebook many are already exaggerated with their expectation.

The worst scenario that can happen has been mentioned by these two:

think nothing can destroy bitcoin completly , but lets say that libra becomes realy hyped alot of the investors that are just into btc to make a quick buck will jump ship and the overall btc volume would take a big hit. but i dont think libra going to become bigger from a investment perspectiv they are so diffrent and doing diffrent things.

Libra and Bitcoin was very different, successful Libra can't affected bitcoins holder and community.So, for me The worst scenario because Libra projects is nothing.

I'm probably in the former camp. I simply don't see anything that would suggest that Libra will pose a direct threat to BTC.

The thing is that people understand that bitcoin is decentralized, while Libra is extremely centralized in the way that its value is derived from. The fact that you need to trust the corporation to hold sufficient reserves to keep the tokens solvent means that there is a risk that not everyone will take.

And given the fact that current bitcoin users are likely to be aware of these risks, they are most likely not going jump on ship. Furthermore, institutional investors will not be interested in Libra given the fact that there is a lack of profit incentive in using it.

If you're talking about absolute worst case scenarios, then I think it'll be tightening of regulations for digital assets overall, given the apparent regulatory risks that Libra poses. But even that's probably going to happen regardless.

USDT is also a stable coin peg to USD currency but it has nothing to worry where bitcoin and the likes of this coin can still synchronize in the cryptocurrency market especially in the exchange. Probably since we are digital nowadays when bitcoin rises up still these stable coins will remain in their  value to which when trading with btc all return can do will be basing on the value of the stable coin peg with fiat currency.

Even if Libra is successful (as in not crashing under 1 sat after it hits an exchange) i won't affect Bitcoin much, it will behave like a mix of the other altcoins and stable coins, it is a very poor contender actually.

But it might be that it sparks discussion and people will one way or the other get to the starting point, which is Bitcoin, and they would wonder why Bitcoin is so popular despite Libra existing, inquire and jump in.

But i see Libra worse than Ripple and similar centralized altcoins, and you don't see those taking the crypto world by storm. They have found their place, such as with banks, but Bitcoin remains unabated, while still being decentralized and not pegged (artificially) to any fiat.

Zuckerberg is naive thinking, he too, can be successful with his own vision. He shoud have researched how it went with the (very rich) chinese that tried the same. Its far from easy not even with getting a few banking institutions behind it.

And, he wants to catapult it over Bitcoin, which is his ultimmate downfall. If Bitcoin was so bad, why people keep using it? People will find out the truth beyond facebook, twitter and instagram.

i can't imagine the worst scenario if Libra will be more successful than Bitcoin
there is nothing special about Libra that can threaten bitcoin

but the positive side is that bitcoin can follow the FOMO train created by Libra  ;D

Yes, I agree with that, Libra will take away the privacy of those people who want to stay anonymous with their crypto business. So they won't even touch Libra coin. What would be the advantage of using such a stable coin for them? FB has already invaded the privacy of most people on Earth, who are up until now, sharing all their stuffs to this social media channel. Naive users that don't care about their privacy and security. I'm curious how they will utilise Libra coin once up and operational. In this case, FB now knows everything about your life, even your financial movements.

Nothing will happen to bitcoin here, in fact maybe it could bring more money to bitcoin ecosystem for all we know. So I don't think Libra will have a negative impact as far as the market price. Investors would simply go and shift their funds to a private, consortium wherein it is centralizes and all your private data will be in their own crypto. Crypto investors are not that dumb, on the contrary they are getting smarter now that's why they are not bother by the supposedly challenge from Facebook's Libra.

Worst scenario of course if Libra coin takes place the position of Bitcoin but of course its just a speculation and for me it will never happen because bitcoin are roaring higher now and many analyst believes that bitcoin can't beat by any coins. I'm too confident that bitcoin will go to the moon and altcoins will have a hard time to compete with it especially the new coins, for me Libra coin should beat first BNB, XRP, and ETH because that's the biggest walls going to the top.

The worst case scenario if Libra becomes successful is BTC will reach $20,000. This might be the worst case scenario. We already experienced almost the same scenario when Ethereum almost become the number one cryptocurrency. But what happened, bitcoin remains number one. All we have right now is just the hype of Libra. It hasn't proven anything yet.

In my opinion, Libracoin will be beneficial to Bitcoin and it has the potential to attract more users to the world of cryptocurrency. First of all, I don't regard Libracoin is not a competitor to Bitcoin. A centralized currency can never become a competitor to a decentralized currency. On the other hand I guess Libracoin will become a competitor to digital versions of fiat, such as PayPal and MasterCard.

Guys, this coin (libra) will be a stable coin, with different purpose of BTC, I don't see the same kind of people using these 2 coins

I believe in cryptos and the ideas behind it, the community here is awesome, but I'll stay away of this coin of facebook, I don't agree with the way facebook works, simple

would you say Paypal is successful? i'd say it is. what happens to bitcoin when Paypal is successful? absolutely nothing! why? because it has nothing to do with bitcoin. it is a centralized anti-privacy payment system that is censored and isn't even global despite being on the web.
Facebook coin called Libra is exactly Paypal with a different name.

I don't think Libra will affect bitcoin in a negative way because it's just another stable coin and it's centralized. People don't like their private information to be leaked and using bitcoin gets your identity anonymous and it's also decentralized, so my conclusion is that bitcoin will still be the most popular crypto in the world.

Libra would take away any financial transactions for buying and selling from bitcoin. Libra may replace bitcoin as the most prominent trading pair. But that too may be beneficial for the price of bitcoin.
Libra in no way is a competitor to bitcoin but it would surely make stable coins like Tether, TUSD, Paxos and others obsolete.

Remember that there are bitcoin holders that do not believe in centralization. So, the success of Libra might not affect much on bitcoin price. Even though libra is centralized, do you think Libra will gst he attentikn of hoĺder.

I don't think something will change even if Libra will have even higher marketcap than bitcoin :) Bitcoin is the mother of all coins and Libra i think will be centralized , not quite sure . Anyway im for the Bitcoin till the end and don't believe any coin will replace bitcoin and its proven in previous 10 years already :)

I don't think this could be bad for bitcoin, it's like saying that gold will kill euros or diamonds. it just does not make sense. The main feature of bitcoin is being decentralized while libra is a corporate coin.

Worst case would be Libra taking over the number one spot, bitcoin will retain its volatility and people who uses facebook  often will surely benefit from it, billions of user will be introduce into crypto imagine that if bitcoin can also access that network.   

What is the purpose of the destruction? who said that? Libra coin won't give a bad affect to bitcoin at all. Maybe that was said by some people who don't know bitcoin and some people who admire a centralized system. Bitcoin is the first cryptocurrency and had a lot of users on it, it's impossible for the old user will move and support libra coin. Also, the libra coin just can be use as payment or send money system beside of that is nothing to be use. Different with bitcoin, the people can use bitcoin as payment system, send money system and as the promising place for investment. However, when libra came the user of bitcoin will be added because cryptocurrency is not a place which be feared again by most people.

its not worst anymore if libra coin became succesful because bitcoin itself can also benefit on it  . last day after the announcement of libra coin , the bitcoin price suddenly sky rockets  but how much more when libra coin is already released on the market ? the price of bitcoin can pump again  but how much more if libra coin became succesful ? the value of bitcoin can even pump more  .

 i think the worst case scenario that can happen to bitcoin is that people will dispose thier bitcoin when they see that bitcoins value is increasing because of libra coin  .

Yeah, I think most of us who are serious Bitcoin users do not give much thought to all the so called Bitcoin killer or Eth killer,,, I see that some places even call Libra the Ripple killer,,, which is such a nonsense proposition,,, so many coins tried to be killers and none of them even got a bit close to that goal. Same thing will happen to Libra.

I can't believe I see these headlines anymore. Don't you ever read?

You have no idea what Libra is, do you? I wish you'd done some research before asking questions like that here!

https://libra.org/en-US/ (Look at that once, I'm sure you'll understand how your question is unnecessary.

Facebook’s Libra is NOT a cryptocurrency. I know big call. But let’s just think about this for a second. First, though, why would you trust it? Facebook will use it go track what you buy and target you with more of the same. They will not only use your data, but sell it. Or they’ll get hacked and your data stolen. I mean, their track record, that we KNOW about? Come on. And you won’t make money off investing in Libra, it’s not going to fluctuate like the cryptocurrencies we know. It’ll be considered a stable coin, 1 for 1. I’m going to go a step further and call it FIAT.

The problem for me in looking at this argument is that we only need to look back a year and a half ago at what happened to the crypto market when the ecosystem had more money flowing in. Sure, people were buying Bitcoin but only to invest in hundreds of ICOs (and the same also happened to ETH once ERC20 ICOs started becoming popular) and that didn't end up too well afterwards, did it?

Bitcoin will stay as it is. Libra is a stablecoin compared to bitcoin where it is a cryptocurrency. If libra will become successful then I think it's good for bitcoin because more people will know about it. And libra won't reached what bitcoin already have.

Worst case is that noobs who want to get into cryptocurrency will get into Libra instead of Bitcoin, but it will be rare, because Libra is a stablecoin, so there's little reason to buy it for speculation, and let's be honest, people get into cryptocurrencies for speculation first. As for competition between Libra and Bitcoin for being used as currency, most of Libra's users will be Facebook users who are far from crypto in the first place, and those people are unlikely to try Bitcoin under any circumstances, so really Libra is not threatening Bitcoin in any major way.

No it won't destroy btc, bitcoin is a decentralised coin people loves to invest in decentralised coin, although the popularity of libra claimed to be big but we can't be sure it can beat bitcoin, for me the existence of libra will light up the crypto competition which will be good for the users

No it wont. May be facebook credits become a popular service it can live side by side. Overall it brings more curious minds into the crypto space.

Not just the difference of the natures of these two but also the fact that libra is basically stablecoin, it is entirely different thing to bitcoin. Libra's price will never fluctute because it is backed by real money by the company unlike bitcoin. Even by this people should stop worrying about what might happens.

Worse is blocking and banning bitcoin most of countries in the world.Then they will some laws who using it.You can search and see few trail works happening in India.
https://www.coindesk.com/another-indian-crypto-exchange-shuts-down-blaming-banking-ban

Their aim is introduce some kind of alternative(like Libra) and ban the bitcoin and other crypto-currencies

I agree with you about the appeal of both things. Everyone knows how Facebook is not respecting privacy, selling personal data, allowing sexist and racist targeting advertising, etc. Using a coin of this company, so that it also knows one's buying habits? No way! And I also don't use Instagram at all, so I guess some people might get interested in the coin, though.
As for what happens to Bitcoin - well, it can go back to being a coin of a small group of people who care. The price will be low, but so will be the fees, so I guess it's not a bad thing.

There's no worst scenario. In theory people could sell their bitcoins and buy libra but that will be a bit like selling to buy a better version of tether.

There are better stablecoins that tether already available. There are also coins based on mimblewimble protocol. Despite  that I don't see people selling bitcoins to buy them. This big bull run proves that bitcoin is still the leader.

That is possible, but Libra and Bitcoin are totally different so there's no way we can compare Bitcoin to Libra, but if that's the case, we can't force them not to ban Bitcoin.
Bitcoin is just being decentralized, and a better store of value for me. We should also appreciate the existence of Libra like there are many people introduce to cryptocurrency since Libra and people will notice Bitcoin.

At every opportunity your duty is to scream no to any citizenry considering Zuckerbergs Totalitarian coin.
Reject him and his social media. The man is a monster

Possibly it'll gain a lot of attention from people in the near future than bitcoin but I don't think it will be a worst case for bitcoin. I don't think it will affect bitcoin afterall. I mean, it could also bring positive outcome to it. If more people will know libra, they will might eventually gain knowledge about crypto and bitcoin.

And I don't think libra can destroy bitcoin at all

Given that Facebook is behind its development, it will become a successful coin, but will not harm Bitcoin's reputation or leadership in the market, since they are different Libra is a stable coin while Bitcoin is a decentralized coin, I wonder why people keep insisting it will go against Bitcoin hen, in reality, it is not.

That's definitely a worst case scenario but I doubt that Libra would be more popular than Bitcoin in the crypto space. There are some articles says that Libra is a stable coin and there are some that say it is not a stable coin just like other Crypto Currencies. I don't feel that Libra will become a threat to Bitcoin and Bitcoin will continue to reign supreme in the Crypto Currency industry for a long period of time.

At this point in time, companies are indeed creating their own stablecoin (so they don't FOMO). And by doing so, would let everyone know in the process that they're into crypto's future, even though in reality it's still closely tied to the value of Fiat. ::)

First of all l want to say definitely Libra can damage BTC and Libra may be successful but not too enough to destroy BTC.LIbra can't dominate cryptocurrency.l have a slight feeling.l don't believe it, aim of them are various.

the worst case scenario for bitcoin if bitcoin will be cracked and the number of hackers that are destroying this market is bad for bitcoin and the stability of the libera bitcoin market there must be strong approval and security protection for bitcoin users to remain stable and this will affect many country for bitcoin in crime or money laundering.

If we get free bitcoin by working diligently, it might not affect bitcoin. it really managed to market bitcoin well

It will open up the minds of those people who are not yet been inside, Bitcoin will continue to be the number one crypto not even Libra can penetrate and remove that, though there's also space for this new project to be successful since it will cater those who's not really familiar with crypto currency.

Libra is for centralized while Bitcoin will continue being decentralized and be used by people who are well aware with how crypto really works.

I agree with you 100% in the part that libra won't affect i believe at all.

But also the coins popping everywhere is because anyone can do it, it will probably bring profit to the team who created it and also some do it because of ideals primarily but at the end they are not really needed.

After a lot of years passes by you will notice that they were truly irrelevant. You just have to notice the patterns.

If there is a long term bet, my money goes to Facebook Libra.

You seriously think facebook won't go full force against Bitcoin, but let it live side by side with their coin? Do you have any idea about their strategy all these years? Do you understand how companies like Microsoft, Apple and Facebook became the titans they are now? Seriously you just type all these comments to fill your signatures without having any clue what you talk about.

Facebook will 100% try to eradicate competition and bring the price of Bitcoin to zero. And they have a good chance in succeeding.

Worst case would be Libra getting investors flow from the Bitcoins actually this might be the only problem it can create , is what I think.
People might switch over to libra feeling more secure and comfortable, because it is going to be backed up by big companies itself but let's not forget that even Facebook is enough to insure Libra.
We don't know yet what will happen but right now it is positively affecting us , people are taking cryptocurrencies more seriously and the price is also rising.

I highly doubt that people will be able to give up bitcoin in favor of Libra. That sounds impossible. Bitcoin has a very strong impact on the crypto community and people will not exchange it.

Nothing orse case and nothing to worry about that, all we need to do is to,support that libra become successful because it possible the success of libra can bring it for bitcoin mass adoption because of people curiosity because for sure libra use the facebook to promote their project.

Those coins have a very different goals and target group, it's hard to compare them, so such questions like that one in the subject are even harder to answer. Personally, despite my antipathy for Libra (I have very similar thoughts like statements in this article: https://www.blockchain24.co/libra-not-such-a-promised-land/ ) I think it won't change much on the market - it will be strongly bounded with Facebook, so I don't think it will influence Bitcoin at all

Digital currency is currently owned by Bitcoin which has quite prestige. Well, recently Facebook issued a new cryptocurrency currency named Libra Coin.
Even though some are judged in the presence of the libra, making bitcooin is threatened is certainly a wrong opinion.
When announcing Libra, Facebook said that the currency would be "stable" with the value given to money and assets in the real world, making it more stable, like a rich currency. This announcement made the crypto currency market revived and made people interested in bitcoin and other digital currencies again. The central bank also supports entering the market before the company takes over and dominates it.

i don't think that libra will affect bitcoin for nothing, but as a worst hypothesis if libra will succeed it will replace 90% of altcoins as usage...

How so, crypt to this day was mainly speculation (changing now with BSV), with libra being a stablecoin there is no speculation. More or less PayPal 2.
If not every transaction is publicly viewable its not crypto, its just digital money.
What exactly is a successful libra?

https://i.ibb.co/h1hWqCK/Untitled.png (https://imgbb.com/)
One private company (Bank) can see every move company xyz does. xyz company can not see the hands of the other private company.

The worst case would be people are falling to the trap of a currency that was "good" because of a big name behind it. And then after they know that the coin is stable, they will now judge cryptocurrency as scam. They will say, an investment that you can't profit? What is that joke. They don't know they are the joke.

every coin have own ability and supporter. bitcoin is better when you compare with libra (if it stable coin). bitcoin still make big profit than libra. but if libra success i think it will make new case, many people know and use facebook and libra will be famous in a short time. people that dont know about bitcoin will learn about libra first (even though they will know about bitcoin later).

I really don't like or support Libra. Cos if you invest in Libra, your whole transaction will be monitored by third party which is bad in crypto and some account will be banned and lost when the see a foul play. I don't see Libra going far and successful as bitcoin. No need to worry about it at all

The worst case scenario if Libra would become successful is that Bitcoin is going to hit just $40,000 in 2020 and it will take another 10 to 12 months for its value to double. That is the worst case, mate.

Do I need to interpret it for you?  ;)

It means Libra, successful or not, is going to add positive points to Bitcoin's reputation. Libra, successful or not, is enough proof that the way Bitcoin paved for the future was simply right.

I completely agree with you, both are different coins with a different purpose.
Many people will fall for this coin just because there are big names behind it, and will fall without even thinking what does it means.
Libra, like he said, is another mark on BTC to confirm this idea was succesful and innovative.

I think Libra will not be able to destroy Bitcoin with all its desire. Perhaps it will become popular and will be among other popular cryptocurrencies, but I do not think that Libra will be able to deliver many problems to Bitcoin.

Bitcoin is bitcoin and Libra coin will operate as a Libra coin if the US senators allow it to see the light of the day. Libra will operate as a stable coin which of course poses no threat to the bitcoin.

Worst case scenario is government ban for will rise.Now they given the alternative.It easy them to start war with bitcoin in the name of drug deals,frauds,scams ect. You name it.War will come if Libra successful. People will get the attraction to Libra if it provides what they desire.They don't want to know what will happen if anything goes wrong.Their accounts will seized.End of story.

With Facebook's libra into usage nothing to think of any worse case scenario. I believe libra will be successful in its way, same as that we have more centralized wallets holding funds, it'll also serve as the same.

As there is a higher number of users surely the usage will be high. This isn't gonna make any impact over the growth of bitcoin or over its market.

I think Libra will succeed, though I don't think it is a big threat to the value of electronic money especially for money that has a strong foothold in the current market.

We all know what's advantage of bitcoin, decentralization and anonimity, that's why bitcoin is more popular than any other currency, compare price of bitcoin to any coin, it's far higher. A person who prepares anonimity and uses bitcoin won't turn into Libra, a project of company which has a lot of issues around privacy, they don't give a shit it, just using all of our information for better marketing, that's a shame

I really don't see the why the lunching of libra coin threatened the existence of btc, they have two separate parts, libra is hardly a fully decentralized coin, besides btc is still the most recognized and most acceptable crypto in the space, so i don't see any threat here.

facebook have big fans than bitcoin, and i think bitcoin will take side effect when libra be famous.
with facebook, the people that follow bitcoin and dont know about cryptocurrent will know as soon as possible, and maybe they will use libra because many people have thing to do on facebook like sell something, advertise (it will be effective of libra can be use on something like that)

You say very rightly, except for the support from the government and a strong corporation behind, libra does not seem to have too many factors to become superior and threaten the existence of bitcoin. Almost everyone knows about crypto and bitcoin recognizes that problem. even if libra succeeds, it still lives only in the light of bitcoin, it will even support bitcoin to become more popular, Bitcoin has been a giant symbol in this area, everything in the back can only accept this fate and lose when faced with bitcoin

I have no idea how libra can hurt bitcoin. There is simply no such scenario. Maybe I'm thinking too positive. But I really don't see a problem for bitcoin. I think libra on the contrary will be able to popularize cryptocurrency and bitcoin

Other than that reason, Libra is stablecoin, it such a no brainer that there will be no competition between bitcoin and stablecoin such as Libra.
Although bitcoin could be in danger if there is any government that releases the regulation to limit bitcoin or any other crypto that is decentralized.

No private corporation other than Federal Reserve has ever succeeded creating/issuing the own money. 

Well,libra will have it's own territory(facebook,messenger,instagram,whatsapp) where people will use it to buy(and probably sell) stuff.Bitcoin on the other hand is a truly global currency and it's not tied to any social media website or massaging app.You tell me what's going to happen. ;)I think nothing important will happen.

Libra is one of the future stable coins, although perhaps one of the largest projects. This fully centralized coin and bitcoin have completely different tasks and functions, so they should not directly influence each other. I see the danger for Bitcoin only in the fact that people may prefer Libra as a means of payment.
However, now a big problem with the release of Libra. If the US Congress adopts a recently submitted bill, the release of this coin will be impossible from Facebook.

Theoretically those guys issue money for a separate entity (or at least that was the plan).
Bitcoin will not be bothered by Libra. Paypal should be afraid tho. Centralised stable coin. Will not be surprised if I hear news like  Tether's oupsy!  (https://www.altcoinbuzz.io/crypto-news/finance-and-funding/tether-issues-5billion-worth-of-usdt-by-mistake/)

BITCOIN has not been able to undermine the currency. even had weakened, but the last few days are on fire again. Because facebook made a surprise launching a new 'currency' in the world. It's called Libra. In my opinion the presence of Libra will help increase the price of bitcoin as usual.
if libra will be successful in the future it will have a positive impact on bitcoin.

I honestly think that the worst case scenario for Bitcoin if Libra’s successful is that it will go all the way up!

Libra is a stablecoin. However, there are people who still don’t understand Bitcoin and cryptocurrencies who might invest into Libra. Bitcoin is still the king, as it appreciates and depreciates value any time, while Libra isn’t.

Even Trump’s tweets about Bitcoin isn’t really affecting much despite its downtrend. It’s just that the whales are manipulating the market by playing the minds of the newbies and inexperienced ones to dump their Bitcoins. With that strategy of course, whales are accumulating more during the dip.

When Libra is fully launch, it’s a bullish thing for Bitcoin and cryptocurrencies due to its massive adoption. No government or SEC can stop Bitcoin from operating, as they don’t control the blockchain.

For now, I don't think about the worst scenario if libra will be successful, and I prefer to wait for what will happen later. It's too difficult to say something will happen while we don't know the case. We could only predict more and more, and that only makes people in out there panic or feeling bad. I think the good thing that we can do now is let the market decide what will happen with libra and bitcoin although I don't think that libra can get successful like the other stable coin or the other altcoin.

In my view, worst case scenario (no Libra launched due to regulatory pressure) is Bitcoin getting more popular, leading to additional price appreciation on the medium-term (1-2 years).   :)
If it even launches, its use case would be vastly different from BTC (Libra is a stablecoin backed by an ETF-like mix after all). No competition at all to BTC.
An interesting question in how convertible and liquid a BTC/LIBRA would be at exchanges.  ::)

I think that today all the talk about the Facebook project looks like speculation, because all the forecasts are contradictory.  They used to talk about Bitcoin and dollar competition, and now they are talking about Bitcoin and Libra, as well as Libra and the dollar.  And since Libra can combine several trading platforms and payment systems, the project itself will probably look different.  Therefore, we will be able to say something specifically after the project is launched.

The worst case is that Bitcoin will stay at its path as if Libra is not successful or not launched at all. That is the worst case scenario if Libra gets the success that it pursues. This is because I strongly believe that Libra is going to be a big help for the cryptocurrency name especially Bitcoin to spread to the farthest corners of the world, given the very high influence of the mother company of Libra and its partners. Libra represents the success of crypto which Bitcoin started.

Lets look at "success" 
To Buy = spent fiat to receive fiat equivalent (Libra)
To Sell = sell fiat equivalent (Libra) to receive fiat, minus two times fees
Lets assume 100 spent and one year hold and low exchange fees, so get 99.80 back

Success is: if fiat did not hyper-inflate in the time, facebook or exchanges closing shop will holding and loosing about 2% in value because of inflation.

Success keeping cash in pocket is: not loosing it or fiat hyperinlating, no time wasted on exchanges or wallets

I do not think there'll be any worst case scenario for bitcoin if Libra becomes successful, and thats something i doubt will happen.

Libra may end up being the number one altcoin, but that would not put it ahead of the bitcoin in the cryptocurrency pecking order.
Imho libra would never be a determining factor to bitcoins progress, adoption nor price.Not to talk of how facebook/libra would defy anonymity and that's something real enthusiasts detest.

I believe that Libra will target the market that is difficult to penetrate by current cryptocurency, which is as a means of reliable payment in retail or merchant. So it is natural that later adoption and popularity of Libra are greater.

And Facebook is a big capital of billions of users and applications such as WhatsApp and Messenger that later support Calibra digital wallet. According to Michael Levine of Pivotal Research, Libra is potentially adopted in a mainstream higher number than Bitcoin.

But it hasn't been bad for Bitcoin, because Bitcoin is approaching the highest level of Libra-driven use by Facebook.

and in addition to that. Being backed by fiat money will make Libra open to inflation and turmoil risk. Because we know that bitcoin does not really affected from fiat money turmoils and that is what makes it eligible for diversification. That is why investors started to choose BTC as a part of their investment. So yes libra is stable and backed by fiat money and yes btc has more transaction fees and really volatile but even with those facts, I dont think Btc will getting destroyed by libra. And when considering the differences between them, Libra actually brilliant idea but still Bitcoin will going to stay and keep continue to be dominant in the crypto market.

I don't think that Bitcoin needs worst case scenario when it comes to Libra.
First of all Libra is totaly different crypto concept that is not competition to Bitcoin. It's centralized, backed up ans with intention to be stable coin, so everything that is opposite to Bitcoin.
Even if Libra becomes successful which I seriously doubt that will not endanger Bitcoin.

We all have conflicting views about how Libra coin is going to perform when it hit the market, some people had a big faith on Facebook and some  here do not support Facebook because of the data issue, it's a battle between the two and we have to see that hapen before we can figure out if Libra have a chance.

But for me, I have to say no, Facebook is very notorious in stealing data, they have already paid billions in damages and I still want to protect my privacy and there are Cryptocurrency based products and services that are existing or will exist that are similar to facebook.

The worst case that could happen is that people will neglect their privacy for Libra. Well I don't think it will affect Bitcoin that much though. They are a completely different coin. It's like comparing Lion to wolf, they are both mammals but different in species. Just like Bitcoin, they are both coin but the other one is stable coin and the other one is volatile. The other one doesn't have any organization controlling it, other one have.

It's a lie if the arrival of Libra doesn't have any effect on bitcoin. Facebook is a very large company, they can very easily create advertisements and display their products, and there are millions of people who will see these ads. let alone the desire of its founder to make libra as the main cryptocurrency, we cannot take it easy. OK, most crypto users are aware that Facebook and Libra will not be completely anonymous because they are true identity thieves. but we know that new users will certainly see which ones are often seen and libra has a high advertising intensity.

Libra will be subject to government banking regulation.

Bitcoin doesn't need government permission for honest, accountable, p2p transaction..

Seems unlikely Libra gets's off the ground unless Zuckerberg somehow manages to buy off the federal reserve, which ain't gonna happen.

I am not sure either if this will greatly affect bitcoin, btc already survived so many trials before and I'm confident it wouldn't fall down from an "overrated" coin lol. Hmm, honestly I think the worst thing could happen is only that btc might lose a few investors or Libra fanatics might say things like "BTC is old, Libra is the new trend", "Libra is the new king blah blah" or other black propagandas. But other than that,  nothing too serious things will happen.

No one is saying that Libra will not have its own use case, it will have and we are also aware that it will become successful because of the popularity of the company in charge of it as you said, but no matter the popularity they have, they will still never beat bitcoin, because when it comes to digital payment, we have lots of digital payments in the market, we have alipay there, so tell me why china will ever accept, we have PayPal that we world is already used to, and we have some individual payments from countries, so why would a country give out that power.

Countries will be the first to fight against it, and the world, they block them from using Facebook, till now, china still does not permit their citizens from using Whatsaap, and they did bloc k it, there is no way you can use Whatsaap in china except WeChat, but with bitcoin, because of its decentralized system, it will make people to always want it.

I do not think bitcoin will be destroyed if the Libra coin is successful, on the contrary the success of Libra will most likely jack up the bitcoin to become bigger and higher in price. bitcoin is limited in number if the more requests to buy of course the higher the price and if libra is successful the crypto users will be more and it will affect the price of bitcoin to be higher.
bitcoin is currently the king of crypto and will not be easily replaced. maybe until the next few decades bitcoin will remain the king of crypto.

I really cannot think of a worst case scenario for bitcoin but let us say Libra is successful so well, it will not be bad for bitcoin but bad for others like paypal.

Because if i am using libra and I love it so much,,, why would I want to use Paypal if the same things can happen with Libra but with cheaper fees and more transparent use?

Bitcoin is superior still anyone can see that.

that is if libra will become succesful but i heard that facebook might cancel it and that news might be true because as of now there are no new news regarding on the status of libra coin but let say it won be cancell i still dont think that paypal and other payment methods will be threatened except from bitcoin and other cryptos because  they are all centralized but libra and bitcoin are both decentralized since both are cryptocurrencies .

Libra Coin is a stable coin backed by fiat money. This will make fiat money circulation increase and possibly will make the price of bitcoin rise. Bitcoin and Libra Coin users are different so in my opinion Libra Coin has no effect on bitcoin because bitcoin is now starting to be used as a store of value and not as a peer to peer payment tool

After the Government is through with the check, the Libra coin might be left with nothing. Most of the strong support are reconsidering their state in the project, which may affect public opinion on the project. I didnt expect a big organization like facebook not to have done their inquiry before they venture into the project, If the project will ever be launched at all it will take a long time and the product may not serve all the purposes previously stated.

The case you say is possible when libra has too many connections with the crypto world, and we are also clear that bitcoin is the one that gets the most attention, with the success of libra coin, which will be free advertising and help bitcoin get more investors. However, if libra does have too much success, I feel this will be a threat in the future of bitcoin because governments of countries do not like underground activities in bitcoin, they need publicity, and libra coin probably allows them to do that, the government will actively support libra coin to compete with bitcoin

The two cryptocurrencies are compared but I don't think each of them can really affect the other one. There are new coins that are always being compared to bitcoin and Libra is just one of them. Libra has a different structure and it requires different regulations. It is going to be an equity-backed asset which is going to be good for this project and also stable coins minimizes volatility. Bitcoin as we know is different from this this aspects.

when  libra is nt being launched in market Libra gave all necessary publicity for crypto and finally out of business

If Libra is released and succeeds, then Bitcoin may lose some of its capitalization. In this case, people will invest part of the funds in Libra for circulation as a means of payment. Therefore, bitcoin will partially lose its influence as a means of payment. However, in general, nothing will change much.
However, I doubt that Libra will ever be released at all.

I don't understand why everyone assume that Libra is going to be detrimental for Bitcoin. It can be the other way around. Libra and Bitcoin can co-exist and supplement each other. Since Libra is patented by Facebook, the government authorities are not likely to be very hostile towards it. And this can help Bitcoin as well, in achieving a clear legal status in many of the countries. Libra is likely to attract large numbers of mainstream and institutional investors, and many of these investors may also consider Bitcoin at some point in the future. There can be both negatives and positives for Bitcoin. But it will be wrong to concentrate just on the negatives. 

There is no worst scenario for bitcoin if Libra will be successful
It can be very positive even if Libra will pass all that regulatory hurdles
i don"t think people will trust Libra much me not for sure
Dangerous in Libra can be that Libra will be kind of corporation money
Next corporation can follow.World owned by corporation is last what i want to see

I can't see anything about destroying Bitcoin with LIBRA.
I always think that this LIBRA or Facebook coin will be a good support for cryptocurrency especially BTC.
What should we do i to ask people what is the best help that LIBRA can do to BTC?

I do not think that the success of Libra coin would directly or indirectly cause any problem for bitcoin. I believe they can co-exist in the crypto market and do well for themselves as individual coins. The crypto market is big enough for any coin to grow in and become successful, without directly altering the fate of another.

Libra is not part of cryptocurrency until right now, we don't know what is platform kinds of Libra so far, they are cryptocurrency or only digital currency like PayPal. So success or not of Libra Facebook coin do not have effect for bitcoin and altcoin at the future, want success on public or not there are the same thing with bitcoin.

I think Libra will be very successful, but I don't think that this will affect on BTC. However, BTC might have to descend from the throne.

I think Libra will have the biggest market cap if it got implemented well in what's app and messenger.

We never know what will the future bring to this project, with so many negative news about this project the only thing that will makes it successful is the
usages that it will  bring to the industry. It is a centralized project and the sure thing is it will be use as what it serves originally.

Don't have idea if how crypto lovers will embrace centralized project. Will wait till time reveal after the full implementation of this coin.

We know that Facebook Libra is a stable coin and this is the essential difference between Facebook Libra and Bitcoin. But Libra is already being banned in many countries before even listing. However, if Libra can be successful in the future, I think it can be used as a local currency of countries. Then, Bitcoin may lost its importance significantly.

Libra is included in Altcoins. So, I don't think Libra will influence Bitcoin too much. We know that Libra will come with a good utility. But again, that is not a threat to Bitcoin.

Yes, already it is an altcoin. This will make influence around as a everywhere usable asset as Facebook has got its network being established all over the world. Apart from this it is a Stablecoin, and this too isn't a threat to the bitcoin. Most of the users who prefer bitcoin were to experience good earning out of its volatility.

No matter how successful the Libra gets it would only take away the market domination. Libra won't kill bitcoin because bitcoin is the first peer-to-peer digital currency that is truly decentralized and not controlled by anyone. We all know the Libra is going to be centralized just like Ethereum, Ripple and many others.

Ethereum and other altcoins are very successful considering their market cap and volume but these crypto coins haven't been able to destroy Bitcoin in know way. Libra might have good plans laid out but it has no chance to destroy Bitcoin. Bitcoin is the father and king of cryptocurrency. Bitcoin introduced blockchain technology and this technology runs cryptocurrency....

Bitcoin still fine how ever success or not Libra coin at the future when open selling to the public, look how success of ethereum altcoin but do not destroy dominance of bitcoin and impossible have the same or higher price like bitcoin, bitcoin is the king of cryptocurrency and impossible there are competitor have the same price with bitcoin.

Bitcoin will not  get affected even though they will launched Libra successfully. just like XRP when they introduced it to us, they say, we will forget the use of bitcoin if it launched. now look what happen, XRP will be soon forgotten. Judging with pay pal leaving the partnership with Libra, there's no other explanation with it if not pay pal realize this Libra project is nothing like bitcoin. like the other altcoins, it will only blooms on his premiere, days will past it will soon forgotten. this is my opinion regarding your questions.

It is very disturbing that 99% of the Bitcointalk users don't want to talk about the advantages that Libra can bring to Bitcoin. They only want to talk about the negative points. I agree that Libra can become a competitor to Bitcoin. But how much competition can Libra pose? Can it be a threat to the survival of Bitcoin or can Libra cause a decline in the Bitcoin user base? The answer is no.

First let's examine how much competition Libra can pose to Bitcoin. From what I have heard, Libra is going to be a stablecoin. It will be backed up with either US Dollar funds, or other assets that are denominated in USD (I don't have much details on the type of these assets. They can be treasury bonds, equities or even real estate). Under such circumstances, the real danger from Libra is directed towards stablecoins such as Tether and not towards volatile cryptocurrencies such as Bitcoin.

The libra is a stable coin, so Bitcoin will suffer. Bitcoin will take most of the liquidity in the cryptocurrency market and beyond. Libra, in fact, is a new generation of USDT.

A centralized currency such as Ripple or Libra would never be able to replace Bitcoin. Most of us use Bitcoin because it is not controlled by the central banks and also due to the fact that the transactions can't be reversed. These advantages are not available in Libra and XRP. I am sure that Libra, upon its successful listing will be able to attract a lot of users. But these users won't be poached from Bitcoin. They will be new users and most of them would have never used any cryptocurrency before. Libra is a digital form of fiat and therefore it will be attracting fiat currency users rather than users of decentralized cryptocurrencies such as BTC and ETH.

The only worst case I can think of if Libra will be successful is Libra taking bitcoins place in the CMC and nothing more, but I have a doubt that it will be in that case because I can't see Libra be that strong. There are a lot of established stable coins already and non of them got near to beating bitcoin so I think Libra is still not gonna be beating Bitcoin.

Libra will be nothing else then a regulated stable Coin where very Transaction will be shared to the Government and also Used for Real-Time Bidding is how the Ads call on Facebook to give you extremely targeted advertising. Also Libra will be able to suspend your Account of usage or just forbid you to use the Network etc.

Bitcoin solves all this. He is private and nobody can forbid you to use it. Nobody controls your Wallet except yourself.

It doesn't matter whether Libra will be successful or not, it won't affect bitcoin in any case. Libra is a centralized stable coin controlled by a big corporation. That's it. It is definitely not a threat for bitcoin, decentralized number one coin. I see no reason to even suppose that stable coin could replace bitcoin or harm it.

The only worst case scenario that i think of is if Libra become successful because of Bitcoin holders converted their holdings into Libra coin then we might experience a big dump of price for Bitcoin which i think not gonna happen because Libra is a stablecoin that most of the holders don't want to invest in since its not offering a big profit for investment.

It could change the payment method of other services or replace it with libra, but i don't think its gonna happen since people will still choose bitcoin and Libra is centralize which can be controlled by Facebook team.

And i can predict that Libra coin can go uptrend once they launch it and we can take advantage having some shares, if you know what i mean.

There is no worst scenario for bitcoin if Libra coin succede,  it's gonna help the General market cap of cryptocurrency entirely,  I could remember when Libra coin was first announced,  bitcoin price soar high tremendously, Libra coin cannot overthrow bitcoin no matter who are behind the development of Libra coin,