A New Bitcoin Rival Is Coming?

[Convery]

Facebook is here more than 10 years and in this long time period nothing replaced Bitcoin. And Libra coin haven´t any chance to beat Bitcoin. Bitcoin is a cryptocurrency with the most safest decentralized network. What can Libra offer? 

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[laskybok]

I am even thinking of those who will invest in thus so called Libra coin, that is called a stable coin. The question I keep asking myself is, do we even need it? What is the essence of it, if jot to enrich themselves.
Comparing it with bitcoin, sometimes make me doubt the potency and proposed use of it.

[Barbut]

Facebook has an owner, BTC doesn`t, it speaks a lot for people who understand crypto revolution and what is decentralization. Stable libra coin to compete with bitcoin? Not a chance, the only advantage Facebook has is in the user base, it`s big, but that advantage will melt down in a couple of years, many people who introduce crypto trough libra coin will transfer their assets to bitcoin and other good coins. It will be a massive boost for crypto community.

[Noruka]

Facebook has an owner, BTC doesn`t, it speaks a lot for people who understand crypto revolution and what is decentralization. Stable libra coin to compete with bitcoin? Not a chance, the only advantage Facebook has is in the user base, it`s big, but that advantage will melt down in a couple of years, many people who introduce crypto trough libra coin will transfer their assets to bitcoin and other good coins. It will be a massive boost for crypto community.

This is very well explained. Even though Libra has a diverse set of owners, it still has owners and can be subject to attacks as the hearing on 17th July shows.

[bvg96634]

I don’t think it will get to that point. Even though Facebook has a very big influence on almost every person in this world, getting such a big company to join the crypto world is going to be a game changer. But it is a stable coin first of all so comparing it with Bitcoin is not correct. But Mark joining the crypto is going to pull a lot of funds; many investors are already very keen on investing in it and have plans to do so. It is a stable coin and meant to be one.
Let’s see in which direction this coin takes the crypto world to, and hopes it is beneficial for the crypto world.

[marjil]

No coin can compete with bitcoin due to the fact that no coin can achieve the same distribution that bitcoin has.
then to even suggest that some stablecoin from Facebook would replace anything..

I do not think bitcoin can be replaced by the facebook coin. Bitcoin already has ten years head start and many developers all over the world, whereas facebook only has its own teams of developers without the experience of bitcoin.

[romanij]

I think Zuckerberg will not be able to conquer Satoshi. Since Facebook will release an imaginary cryptocurrency that will have the main functions but not be individual. Most likely it is necessary to simplify the tax policy in the country.

[moonblocks]

Facebook's GlobalCoin is not a direct rival to Bitcoin which is considered to be "digital gold" and can be used as a store of value with long term investment potential, whereas the former is a stablecoin specifically designed for payment purposes for users of the social media platform

[Kezacky]

bitcoin yes bitcoin and facebok coins also remained facebook coins. they are clearly different so I don't think that it is a rival to bitcoin. While Bitcoin is the king of cryptoqurrency from the past until now, while Facebook coins are still new, they haven't even appeared in the public.

[onrise]

Mark Zuckerberg is a genius, but the guy can be mistaken as usual people. New coin with its stability and aim can help people escape problems of inflations and make online purchases easy, but it is not a BTC rival.

We all know that this is not going to be rival any time soon and how much will it last to the top value is also a questionable. As it could be just a short time phenomenon and after that people will sell it and many might not even take this coin considering it is coming from the FB who has sold the data.

[Leyss]

A stable Libra coin cannot compete with Bitcoin. Stable coins and decentralized cryptocurrency have completely different functions and tasks. This coin, of course, will have a significant impact on the cryptocurrency and, possibly, will divert some funds to itself. However, at the same time, given that Libra will have a digital shell, its use will necessarily draw attention to the decentralized cryptocurrency and contribute to its implementation in our life.

[Rohtox]

I don't think Facebook Coin (LIBRA) is "the New Bitcoin Rival".

Yes, they've become "the king of Social Media" but not for cryptocurrencies, I don't even think they can "defeat" Ripple on crypto world.
Learn how LIBRA will become and developed makes me think "Isn't this a setback in the crypto world?"
In the name of Cryptocurrencies they launched LIBRA, but in reality they just broke "Decentralize" vision

[campusnet]

We all know that this is not going to be rival any time soon and how much will it last to the top value is also a questionable. As it could be just a short time phenomenon and after that people will sell it and many might not even take this coin considering it is coming from the FB who has sold the data.

all possibilities are now possible, many assumptions come because Facebook is surprisingly announcing their crypto. I hope we can wait patiently for the certainty that will occur in the market. now don't speculate too much, just follow how the process will show the best.

[Vinalians]

I don't think Libra would be the rival of bitcoin at all because there are so many people out there including experts and also including me saying and believing that Libra will take a positive effect on bitcoin and into cryptocurrency because of the recognition of it in cryptocurrency to public and social media.
Libra can be also the way for many people to know not just bitcoin but also the whole system of cryptocurrency so we don't need to worry about it at all.

[jacafbiz]

There is still chance t have another coin compete directly with Bitcoin, but not Libra coin. The reason Bitcoin succeed is as a result of many factors, Satoshi deciding to leave the project for others to develop to me create the path for the success of the Network, No one will tell you your fund has been flagged because this will happen remember EOS. People just need to wait and see how this project will fail big time

[MikeyVeez]

If Facebook coin doesn´t have a creator and become decentralized, then yes. But this can´t happen, right?
Libra will have power only because many people are using Facebook everyday.

[elisabetheva]

With Facebook, he want to enliven the crypto market, the only positive thing can be taken, that the crypto market will be more advanced and well developed. but to be able to compete with bitcoin, there is no thought that it can happen easily. because the crypto market is the connotation with bitcoin. it takes time to introduce yourself first compared to want to shift the existence of bitcoin.

[suzanne5223]

Mark Zuckerberg is a genius, but the guy can be mistaken as usual people. New coin with its stability and aim can help people escape problems of inflations and make online purchases easy, but it is not a BTC rival.

You're right and I don't see any reason why the coin will Bitcoin rival cause it concept is just like JPMcoin. However, we still don't know yet if the coin will be implemented cause I learned from a member of this forum that the Congressional House Committee of Financial Services have told Mark Zuckerberg and team to desist. Link

[qomariah95]

There is nothing to fear with the presence of Libra. This is not a threat and not competition, Bitcoin will still be the main one in crypto currencies. But the entry of libra is certainly beneficial in crypto, because more people will enter crypto. That means that Crypto will be seen by many people with the presence of Libra.

[b1boy]

For me Personally no other coin can ever outperform bitcoin and I accept we as a whole realize that bitcoin is the real one that opens the entryway for different coins that is the reason its locale is the most grounded ,I'm not saying its inconceivable but rather Facebook coin won't be an opponent ,individuals are expecting a lot from the forthcoming Facebook coin ,we will perceive how it goes