Facebook Cryptocurrency

[UniversityCoin]

I think the Libra that launched Facebook is not a threat to bitcoin and other altcoins, because bitcoin remains a crypto king and every other altcoins have an advantage both in terms of the project and the interest of investors in each Altcoins.

The libra is a threat to all the coins of the cryptocurrency market because it masquerades as cryptocurrencies, although in reality it will not be a full-fledged cryptocurrency in the usual concept of this word.

[The Sceptical Chymist]

Also I thought it was going to be a stablecoin? So there would be no point in buying it in the hopes of a price increase, as it would always remain a constant value.

Lol, that's what I heard as well and my guess is that OP isn't aware of this fact.  If it's a stablecoin, you might as well take all your dollar bills and stash them under your mattress, because that would be equivalent to owning Libra.  No point in "investing" in something like that, no matter how much you love Facebook (which I most certainly do not).

The libra is a threat to all the coins of the cryptocurrency market because it masquerades as cryptocurrencies, although in reality it will not be a full-fledged cryptocurrency in the usual concept of this word.

It's not a threat to anything.  In fact, there's the potential that it might get people interested in real cryptocurrencies like bitcoin, and those people might end up making money from them.  And anyway, it's waaay too soon to even speculate about that sort of thing, because FB is having one hell of a time getting this thing started.  With all the pushback from regulators, they might not even get the chance to launch it.

[nutriagrigia]

I think the Libra that launched Facebook is not a threat to bitcoin and other altcoins, because bitcoin remains a crypto king and every other altcoins have an advantage both in terms of the project and the interest of investors in each Altcoins.

The libra is a threat to all the coins of the cryptocurrency market because it masquerades as cryptocurrencies, although in reality it will not be a full-fledged cryptocurrency in the usual concept of this word.

Libra does not threaten any cryptocurrency in this market but vice versa. Libra brought a lot of attention to the cryptocurrency market. this means that the more attention the more money will be invested in the market

[Viscore]

I think the Libra that launched Facebook is not a threat to bitcoin and other altcoins, because bitcoin remains a crypto king and every other altcoins have an advantage both in terms of the project and the interest of investors in each Altcoins.

The libra is a threat to all the coins of the cryptocurrency market because it masquerades as cryptocurrencies, although in reality it will not be a full-fledged cryptocurrency in the usual concept of this word.

Libra does not threaten any cryptocurrency in this market but vice versa. Libra brought a lot of attention to the cryptocurrency market. this means that the more attention the more money will be invested in the market

Indeed, and people has to understand as well that Libra is a stable coin, you can't invest in a stable coin like BTC or ETH, you only use it for payment system to ensure the value of your money won't change.

They are facing a big challenge now as they are registered in a country where regulation is so strict, maybe the government sees this as risk on their personal interest but they can't deny the launch of Libra, all they can do is to regulate to ensure tax are properly impose accordingly.

[d_fitrie]

I think the presence of libra in cryptocurrency is not a threat to bitcoin and altcoin, so far my opinion about libra is as stable coins, like other stable coins but libra is much more popular

[ModanaLee]

What is everyone saying about the Facebook cryptocurrency Libra? I have really not been following up their waves of news. My question is, will it scale and do well?

[Bossfidelity]

There's no doubt that prices in the cryptocurrency space is greatly affected by information in circulation and several people tend to move with the tide without an understanding and sufficient information on what the tide holds. We were all excited to hear the libra coin coming into existence, but that could be history, if the Bill to sanction companies like Facebook involvement in cryptocurrency is passed.

[saba1256]

As you know Facebook announced their own cryptocurrency LIBRA but various legislation needs to complete before launched, so after launch can buy but this will be stable coin and will not affect BTC price.

[freedomgo]

As you know Facebook announced their own cryptocurrency LIBRA but various legislation needs to complete before launched, so after launch can buy but this will be stable coin and will not affect BTC price.

Directly it won't, but indirectly it will, once people get educated with what is libra and eventually use it, they will be introduce in the crypto market and they will surely know about BTC which is a good investment, not only that, this success of Libra will also become a great help for altcoins to recover as investors would certainly touch them knowing they are so much undervalued.

[bryant.coleman]

As you know Facebook announced their own cryptocurrency LIBRA but various legislation needs to complete before launched, so after launch can buy but this will be stable coin and will not affect BTC price.

Directly it won't, but indirectly it will, once people get educated with what is libra and eventually use it, they will be introduce in the crypto market and they will surely know about BTC which is a good investment, not only that, this success of Libra will also become a great help for altcoins to recover as investors would certainly touch them knowing they are so much undervalued.

Your arguments sound weird. How is Libra going to help the shitcoins? And I am quite sure that by the time Libra comes to existence (mid-2020), many of the shitcoins will cease to exist. Libra can be a competitor to the altcoins (especially for stablecoins such as USDT, USDC and PAX). I can't imagine a scenario in which the introduction of Libra is going to help the alts in regaining their lost value. It may help Bitcoin, because many of the Libra users may shift to BTC in the future. But I don't think that any of them will shift to altcoins.

In case everything goes as planned for Libra, then the coin will be introduced sometime in 2020. The point to remember here is that Libra is supposed to be a centralized stablecoin, unlike Bitcoin which is a decentralized dynamic coin. Many of the existing FB users will start using Libra (and the vast majority will be using crypto for the first time in their life), and after a while many of them will start exploring BTC. Introduction of Libra can result in more users to BTC in the long run.

[Menawi12]

I am determined to buy FB coin Libra even though it is not available yet. I hope it is available on exchanges where i can buy easily.

Will it be a threat to BTC and other altcoins? I am afraid that the prices of BTC and other altcoins will go down. It makes me hesitate to buy some currencies like TRX currently.

The emergence of Libra coin will not affect the price of bitcoin. Maybe it will affect the dominance of altcoin. Libra coin may be an interesting new coin because it is supported by large companies, but in my opinion it will not come out anytime soon due to regulatory constraints

[freedomgo]

As you know Facebook announced their own cryptocurrency LIBRA but various legislation needs to complete before launched, so after launch can buy but this will be stable coin and will not affect BTC price.

Directly it won't, but indirectly it will, once people get educated with what is libra and eventually use it, they will be introduce in the crypto market and they will surely know about BTC which is a good investment, not only that, this success of Libra will also become a great help for altcoins to recover as investors would certainly touch them knowing they are so much undervalued.

Your arguments sound weird. How is Libra going to help the shitcoins? And I am quite sure that by the time Libra comes to existence (mid-2020), many of the shitcoins will cease to exist. Libra can be a competitor to the altcoins (especially for stablecoins such as USDT, USDC and PAX). I can't imagine a scenario in which the introduction of Libra is going to help the alts in regaining their lost value. It may help Bitcoin, because many of the Libra users may shift to BTC in the future. But I don't think that any of them will shift to altcoins.

In case everything goes as planned for Libra, then the coin will be introduced sometime in 2020. The point to remember here is that Libra is supposed to be a centralized stablecoin, unlike Bitcoin which is a decentralized dynamic coin. Many of the existing FB users will start using Libra (and the vast majority will be using crypto for the first time in their life), and after a while many of them will start exploring BTC. Introduction of Libra can result in more users to BTC in the long run.

I didn't say it's gonna help shitcoins, altcoins that aren't performing yet are not automatic shitcoins.
I know that Libra is a stable coin but it's popularity will help people to be aware of the crypto market because it's still being traded here in the space in different exchanges, probably the big ones.

People when start using Libra will not close their eyes and will focus on using Libra alone, they will become curious with the existence of BTC and altcoins, and eventually will explore it. As you said, it could affect BTC, so if BTC will rise and hopefully make a new ATH if it will not happen this year, it's expected that altcoins will follow, based on the price trends in the past.

[jostorres]

What is everyone saying about the Facebook cryptocurrency Libra? I have really not been following up their waves of news. My question is, will it scale and do well?

Fingers crossed, everyone waiting for the crypto to be launched first so we really see their main function because there has been so many rumors surrounding their functions, some has rumored that Facebook coin will simply be used within Facebook system and will only be just a stable coin that would be pegged to a dollar.

We have some that has rumored that the said Facebook coin will serve as a global currency, I mean that is their intention, and would also have volatility like that of bitcoin, which means that people could use it for investment purpose, and until its release before we know if this coin will really scale through or not, but just one thing that I don’t like about the coin, that is its decentralized nature, it has no privacy and would easily be controlled.

[lolgato1]

We can speculate about it, but until it will be launched we won´t know anything.
Maybe Libra will avaiable only in few countries, that will be the worst scenario for Libra because Libra will loose a sense of being international payment solution. 

[bryant.coleman]

I didn't say it's gonna help shitcoins, altcoins that aren't performing yet are not automatic shitcoins.
I know that Libra is a stable coin but it's popularity will help people to be aware of the crypto market because it's still being traded here in the space in different exchanges, probably the big ones.

People when start using Libra will not close their eyes and will focus on using Libra alone, they will become curious with the existence of BTC and altcoins, and eventually will explore it. As you said, it could affect BTC, so if BTC will rise and hopefully make a new ATH if it will not happen this year, it's expected that altcoins will follow, based on the price trends in the past.

Those who start to use Libra will eventually come to know about Bitcoin, and many of them would start using it in the future. But I don't think that the same is going to happen with altcoins. Bitcoin dominance has already hit 69%, and altcoins are drowning without any sign of a fight-back. By the time Libra is listed, many of the altcoins would be either dead or dormant.

There are altcoins out there which are centralized, similar to Libra. One example of such a coin is Ripple (XRP). There is a chance that the emergence of Libra may give XRP another round of pump-and-dump. But there is zero chance of XRP holding on to the gains, simply because it is a scam coin. IMO, some of the Libra users may start using other cryptos, including alts. But in the end, most of them will realize that holding alts is not worth the risk.

[Distinctin]

If later libra coins are able to invest, there may be many people who want to buy them, moreover the popularity of Facebook is the main attraction, and I am sure it will affect the market price, and if you want to compete with BTC, it might take quite a long time.

People will buy not to invest, a regular stable coin is not an investment, Libra is not different but it's just more popular and has more usage compared to our stable coins here where mostly is use to convert our BTC to avoid losing due to fluctuation.

This is not launch yet, but hopefully it will be launch as schedule and those regulatory requirements will not cause a delay on this big project.

[danggoron]

If later libra coins are able to invest, there may be many people who want to buy them, moreover the popularity of Facebook is the main attraction, and I am sure it will affect the market price, and if you want to compete with BTC, it might take quite a long time.

Facebook's popularity has become a major weapon in the formation of the Libra network to attract investors. Later, Facebook users can use Libra for various activities facilitated by Facebook, for new people who are familiar with cryptocurrency will surely indirectly know about BTC and other altcoins. This would be a good magnet. Libra is rumored to be a stable coin, so I don't think it's the realm to make it compete with BTC.

[nxnqauff]

Too much hype around this coin. Not sure what the user would be. Still going to be in ethereum platform? What is the real motive behind this coin?

[Delilonia1]

I am determined to buy FB coin Libra even though it is not available yet. I hope it is available on exchanges where i can buy easily.

Will it be a threat to BTC and other altcoins? I am afraid that the prices of BTC and other altcoins will go down. It makes me hesitate to buy some currencies like TRX currently.

The Facebook coin is actually a very good initiative and I don't think it will be a threat to Bitcoin by any means.

[thesosorr]

previously libra coins were very much to show in the role of altcoin, while some threats came in the direction of the destination not in one direction, but BTC could not be made for adjustments to the TRX currency.