Libra Coin and Bitcoin

[maticskhadka]

Hello Experts out there , How do you think libra coin of facebook effects Bitcoin ? For eg If libra can do what BTC , ETH could do than people will never use BTC ?

[omone1]

Libra coin will be a stable coin, just like USDT, it seems only private investors will benefit from the gain since the coin won't be volatile, so traders may stay off the libra coin. Bitcoin combines technology with economic reward, so which economic reward will I gain from buying and holding bitcoin that doesn't grow? Maybe bitcoin will just be a challenge to USDT if it will ever be traded.

[pushups44]

Hello Experts out there , How do you think libra coin of facebook effects Bitcoin ? For eg If libra can do what BTC , ETH could do than people will never use BTC ?

Libra will make people feel more comfortable using virtual currencies, so it will likely draw more people to bitcoin. As bitcoin is decentralized and more speculative, it will draw a different subset of users than those using Libra. The main benefit of Libra will be the increased liquidity and infrastructure it will bring to the space. It may also pose a threat to the U.S. dollar if people feel it is a better or more stable alternative.

[CryptoGamblingSites]

We have enough Libra threads that you dont need to create more 

Nobody trusts Mark Zuckerberg to create a currency that anyone can own and use without repercussions

https://techcrunch.com/2019/06/18/facebook-libra/

Each founding member paid a minimum of $10 million to join and optionally become a validator node operator (more on that later), gain one vote in the Libra Association council and be entitled to a share (proportionate to their investment) of the dividends from interest earned on the Libra reserve into which users pay fiat currency to receive Libra

    Payments: Mastercard, PayPal, PayU (Naspers’ fintech arm), Stripe, Visa
    Technology and marketplaces: Booking Holdings, eBay, Facebook/Calibra, Farfetch, Lyft, Mercado Pago, Spotify AB, Uber Technologies, Inc.
    Telecommunications: Iliad, Vodafone Group
    Blockchain: Anchorage, Bison Trails, Coinbase, Inc., Xapo Holdings Limited
    Venture Capital: Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures
    Nonprofit and multilateral organizations, and academic institutions: Creative Destruction Lab, Kiva, Mercy Corps, Women’s World Banking

If you want to trust a bunch of bankers and regulators to create money we all can value and trade as money (without high fees, long term costs, privacy violations, lack of security and anonymity) then go do it!!


This is good for bitcoin. Shitcoins are still shitcoins regardless who creates them.

[tabas]

Hello Experts out there , How do you think libra coin of facebook effects Bitcoin ? For eg If libra can do what BTC , ETH could do than people will never use BTC ?

If Libra pairs with bitcoin then it will affect that much. But as of now, all we can do is to speculate. The details given for a normal person can't be understand that much but if its for people who are more with technicalities, they understand that this Libra is no way to compete for bitcoin and it's just an additional stable coin that has usecase.

[Ridwan Fauzi]

There is no people/user bitcoin who leave bitcoin just because the coin's facebook came as we called as a libra coin, unles the newcomers who will swayed with new project which is booming such this time. Bitcoin and facebook is really different, I will say libra coin is money fiat digital as a whole it is not pure has decentralized system, this is different with bitcoin who has pure decentralized system. I don't have a long time to choose between libra coin and bitcoin although the libra coin has announced by the giant media social, I'll use bitcoin first because I've been comfortable to using it.

[BitcoinFX]

Hello Experts out there , How do you think libra coin of facebook effects Bitcoin ? For eg If libra can do what BTC , ETH could do than people will never use BTC ?

 

Head of Facebooks Libra Distances it from BTC: We'll Share Information with Authorities ...
- https://cointelegraph.com/news/head-of-facebooks-libra-distances-it-from-btc-well-share-information-with-authorities

Chair of House Financial Services Committee Requests Halt on Facebooks Crypto Project ...
- https://cointelegraph.com/news/chair-of-house-financial-services-committee-requests-halt-on-facebooks-crypto-project

[katerina5643]

hi, guys!
i was really surprised with the news that facebook's gonna provide all people kinda general-purpose stable coin.
in my ind its really cool idea that will completely change world of cryptocurrency.
also recently i've read read related article. u can check it. https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html

[Nawrod]

I think that comparing Bitcoin and Libra misses the point. The only similarity between them is that both are based on blockchain technology. Bitcoin is kind of "rebel" currency, decentralized, when Libra is made for Facebook purpose only. Besides, we still don't know much about this coin, only few details from official website and Zuck's post

[NN52NN]

Libra is the coin that will contribute to the popularization and dissemination of cryptocurrencies. But I do not think that crypto enthusiasts will support this centralized bank coin.

[Furious 7]

If Libra successfully launches stable coins, this will be good news for crypto users around the world.
So far Facebook has a large community, everyone will be more confident with the blockchain.
But I doubt it will rival Bitcoin.  

[memed97]

I think that comparing Bitcoin and Libra misses the point. The only similarity between them is that both are based on blockchain technology. Bitcoin is kind of "rebel" currency, decentralized, when Libra is made for Facebook purpose only. Besides, we still don't know much about this coin, only few details from official website and Zuck's post

True, in time it is not right to compare Libra coins with Bitcoin, even though they are both cryptocurrency but the path will also be different, and now it can only be limited to predicting because the library coins have not been launched and the data is not available yet.

[qazgroup]

We need to understand that libra has nothing to do with btc and it is not a btc killer, libra will be a fiat backed stable coin mainly aimed at online payments and money transfers so i do not think there is any threat to btc it will perhaps increase the volume and liquidity in the crypto market.

[vanjava]

the appearance of Libra makes bitcoin exceed $ 11,000 in 2019. this is my opinion about Libra and Bitcoin. the libra effect is very influential with a significant increase this week.

[Nalbo]

Hello Experts out there , How do you think libra coin of facebook effects Bitcoin ? For eg If libra can do what BTC , ETH could do than people will never use BTC ?

Libra would be a boost to bitcoin adoption. The price of bitcoin would increase. Libra being a direct competitor to stable coins would give a tough competition to established stable coins and would be the new favorite of exchanges and merchants.

[arufox]

Libra is bad projet because thy sytem is centralized, we want to control our data and financial and libra does not meet these requirements. Also the price is fixed, stable coin that's means so bad for investment. So for people care about their data and money libra is bad solution

[kram31]

There will be huge blow out on the part of crptocurrency and not just BTC or ETH/
We all know that FACEBOOK is the most popular social media which most of the people in the world has an account.
this will be the way to educate people who dont know anything with crypto.

[Mr.Zero]

did you really know it what LIBRA the facebook coin.
LIBRA is very young and we don't know what happen next.
i just don't really know why people get enthusiast with LIBRA just because Facebook.
let's think more.

[HELLOFF]

I think that in this regard, we should be a little cautious, because Facebook and how it has access to personal data of users, And now this data will also be joined by money.  It seems to me that the danger can be increased.

[fiomcorka]

Nah, let's say that the Libra coin is going to be fast for transactions and charge less fees, but people are not going to abandon Bitcoin for Libra. Libra is just in the same league with USDT and other stable coins and you know for sure that coins like that does not stand a chance with Bitcoin, btc will always be taking the lead in the crypto market. And the way I see it, a lot of people are still going to prefer USDT more than the Facebook Libra coin, cause I have seen a lot of people questioning whether the Libra coin is going to be a privacy coin or just another means for them to grab more information from their platform users and sell to advertisers.