Could Facebooks LIBRA coin destroy Bitcoin?

[pixie85]

The way it works is simple. Bitcoin has its own target group that includes people who understand what decentralization is and old miners and supporters who will never abandon it for a centralized project. Libra will have its own group that will include newbies who will get into what they think is crypto by clicking a banner on facebook.

There's really not much competition between centralized stable coins and decentralized coins that can be used as stores of value.

[EmmaBen]

Highly unlikely. Bitcoin has established a name and niche for itself and it will be extremely difficult to replace. The use case of BTC is simply insurmountable and this can be seen in its continuous trade pairings with other cryptocurrencies and will continue for the unforeseeable future.

[Olatunjex]

As for me Libra is not a treat for bitcoin, Libra hasn't launch yet and it has been summoned and a lot of concerned has been raised, libra is going to be a stable coin bitcoin is not.

[asyakashi]

there is nothing to worry about.
Bitcoin cannot be compared to other coins. instead of libra which is predicted to be present in 2020.
everyone is just speculating and guessing. Libra still has many licensing problems.

[Menawi12]

there is nothing to worry about.
Bitcoin cannot be compared to other coins. instead of libra which is predicted to be present in 2020.
everyone is just speculating and guessing. Libra still has many licensing problems.

I agree, bitcoin cannot be compared to other coins including Libra Coin. I think the use of Libra coin is limited to the Facebook platform, different from Bitcoin which can be used with anyone. Libra Coin is not a competitor for bitcoin because bitcoin is a store of value

[DebitMe]

I feel like each day Libra coin becoming a possibility is less and less. Law makers are jumping all over the thing and just seem like they will kill it eventually. Either way, it will only help bitcoin in the long run.