Is libra coin going to dominate the Bitcoin market?

[robelneo]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

It's just a speculation, we all know supporters of any project are going to speculate so they can generate support, and Libra coin being a  product of the internet giant there are going to be a lot of supporters, we want to be associated or supports coming from big companies because of the profit that it can drive to investors, so expect a lot more before it launch.

[killerfrost]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

If Libra is accepted by the US government, it will be a great signal for this market. And for facebook with billions of users, I believe that Libra will reduce the dominance of bitcoin in this market. It is very likely that Libra will make it to the top 10 in coinmarket after its launch, and in the future it will compete strongly with bitcoin

[Sithara007]

Perhaps time has come to end this debate about Libra. It is now almost confirmed that the project is cancelled. Yesterday, there was a statement from the Swiss President and Finance Minister Ueli Maurer regarding Libra. He was saying that the project has failed. You can find the details here:

https://www.business-standard.com/article/international/facebook-s-libra-cryptocurrency-has-failed-says-switzerland-s-president-119122800331_1.html

And after the meeting organized by the Libra team three months back (in Geneva), there has been no further movement on this subject. The other partners are also looking to pull out.

[gwaposakon]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

There are many speculations about the market share of Libra once it hits the market. It is backed by one of the most influential social networking platforms so it is bold to say that it might challenge the dominance of bitcoin in the market. But all of that is just speculations. There is still a possibility that it might not also live up to the hype. I am just waiting for how it turns out. Any, whatever happens to Libra is still a step forward for the blockchain technology.

[karanggatak]

yes maybe in terms of the use of libra coins will rival bitcoin because libra is a stable coin and the purpose of creating libra is to facilitate us in making transactions without the need to have a bank account. and currently Facebook already has many user accounts throughout the world. so it will not be difficult for Facebook to promote libra.
but I believe bitcoin cannot be defeated by libra in terms of investment and trade. in general bitcoin will continue to dominate the crypto market.

[danherbias07]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

No its not going to happen, in case that facebook cryptocurrency libra was successfully launched and already in used, in my humble opinion I think "it cannot dominate the bitcoin market" because libra was design to be a stablecoin meaning it will not fluctuate much like bitcoin does since it was pegged by US dollar in that case i'm sure it will not catch or surpass the bitcoin price and market dominance for the mean time.

Correct. And they will not let it have trillions of dollars as their max cap.
It might go like $10 billion only in circulation. So, it's market cap wont reach the number which bitcoin have by now.

Let us also go thru trust issues.
The news about Libra coin being not approved had gone viral already.
So, before people even buy it there will always be that doubt.

[ashmodeus]

lets imagine libra will same like Perfect Money USD or another Electric money like that and you will know Libra have no chance against Bitcoin. I've told people to all Libra thread about posibilty Libra overtake Bitcoin market is zero but they still ignoring, just see on coindesk magazine , search about Libra and u will know Libra just stable coin .

[desticy]

There is already a dominant stable coin on the market called Tether. In order for Libra to take its place, it is necessary to at least compromise the project representing Tether, otherwise Libra will share the market part with the rest of the stable coins.Do not forget that the libra is a stable coin, which means that investing in it based on growth does not make sense.

[Free1bitco.in]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

Facebook is one of the biggest social media, and until now the user is the most. besides that facebook also has so many business users, and if they use libra continuously, it can dominate the market. for example, currently, USDT has the largest volume despite a lot of negative news from it. When Libra enters the crypto market, and Facebook users use it, of course, it will dominate.
at this time so many entrepreneurs who refuse the use of bitcoin, but I think not with libra.

[bitcampaign]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

Do you think libra will be listed on coinmarketcap, if they are registered there I find it difficult to replace bitcoin dominating other crypto prices, libra needs development and it takes a lot of time to get adopted, although indirectly if libra is applied to facebook, instagram and whatsapp they will get more users, but it seems like it takes time to get their users to be able to use libra in their applications and wallets, nobody knows what happens later

[BestCryptoYear2020]

We will wait and watch in new year, what's the progress of libra coin, when it can be available for public finally.

[Gheka]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

If Libra is accepted by the US government, it will be a great signal for this market. And for facebook with billions of users, I believe that Libra will reduce the dominance of bitcoin in this market. It is very likely that Libra will make it to the top 10 in coinmarket after its launch, and in the future it will compete strongly with bitcoin

I don't think so, although facebook is a giant with an awful number of users around the world but producing a crypto product is another area of theirs, I do not believe people will still support libra coin, only some people invest in libra when they are partners and investors are looking at the potential of libra. Bitcoin as a currency was launched early and formed dominance on crypto, libra coin will not create too much turbulence for bitcoin, I even suspect that libra coin won't be officially listed on coinmarketcap when people probably feel insecure with a bit of government presence.