Does Facebooks's Libra cause the growth of bitcoin?

[Naida_BR]

At best

no one outside of the libra consortium is going to trust libra (and likely inside)

Alipay, Tencent or whatever will need a bridge to them ....

Large transfers between various systems will need to be done through a trusted zero counterparty risk with market depth .....  can any one say bitcoin....

I see that libra will somehow become associated with a BTC holding company to allow low friction to BTC then those that want withdraw to their private wallet.

So its hard to see how libra will not help BTC and be a massive on ramp,

Plus BTC has near a decade head start and a lot of dev and infrastructure in place.

I will not be connected but it can definitely bring more people to the cryptocurrency market.
Libra is going to be trusted from people who trust in centralization. Having said that, they will be slowly be inolved in cryptos and they will see directly the benefits of holding Bitcoin or any other already established cryptocurrencies.

[jonsky05]

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

Maybe because libra will be hype when it will launch. Facebook coin have a big impact so cryptocians that's why it will be have big impact too in bitcoin. It's either bitcoin will increase or drop little bit because of that Facebook coin. Let's see how it goes this trend situation.

[shoreno]

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

Maybe because libra will be hype when it will launch. Facebook coin have a big impact so cryptocians that's why it will be have big impact too in bitcoin. It's either bitcoin will increase or drop little bit because of that Facebook coin. Let's see how it goes this trend situation.

so if people will buy more libra coin and  will get hype in no time  but what will be its connection with bitcoin ?  facebook coin will have a major impact on cyptocians yes thats true because this coin is not just an ordinary coin but it came from the biggest social media platform which was facebook  .

  bitcoin can increase and grow on its own without the influence of other coins but other coins cant grow without btc , that is for sure since there is no way to directly purchase other coins without obtaining a btc first  .

[klaaas]

because this coin is not just an ordinary coin but it came from the biggest social media platform which was facebook  .

Facebook is working for there customers but mainly to profit from them. There second coin next to it make them the profits they cant take from the stable facebook credits. Google: Libra Investment Tokens

[Boh manok]

I don't know if the cause of the altcoin has risen because of the birth of a new coin called libra, but I have read a lot that this coin released by Facebook has an important role in rising altcoin prices but I have not found the exact reason they stated this statement, maybe  experts know better

[Slow death]

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

I believe that people should be thinking that as facebook has many users, these users when they come in contact with Libra they will be curious to meet bitcoin too. But Libra is already generating a lot of noise by the authorities

Singapore Central Bank: Concerns Over Facebook’s Libra ‘Not Trivial’

House Reps Question FinCEN Director on Libra’s Potential for Illegal Usage

French Central Bank: Facebook’s Libra May Need Banking License

[Naida_BR]

Mayne yes but there is no proof or legt reason if the because of the Libra because of the bitcoin is growing. Because in 2017 also we saw pumping even without the sense of the Libra and that coim is atill not launch so maybe they only a little effect we experience the full effect once it lanch next year.

Everytime the price pumps it doesn't have that we faced the same reason for that.
Also 2017 was a totally different year that today. You cannot compare the price that happen in 2013 with that of 2017 and so on. Libra is indeed a reason that we are pumping now.

[FanEagle]

Libra could have an affect on the late stuff but remember bitcoin started going up before libra started. I personally think that it should be creating this new wave of people interested in bitcoin but only after Libra is a reality and everyone uses it, not right now. Right now, people know that Libra will come out and those people are already crypto currency people because facebook is not making any marketing or advertisement efforts for something they haven't even published yet.

When libra comes out they will advertise it and they will have a huge marketing budget and everyone will start to use it and then maybe move to crypto currencies as well however until it is not even published there is no way it affects bitcoin at all, in couple years sure but now I doubt so.

[hatshepsut93]

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

Crypto noobs simply can't put it in their heads that Bitcoin rises because of speculation, they always try to find some "logical" reason behind the growth, because to them speculation sounds too simple, inelegant and probably most of all - scary. Scary, because to acknowledge speculation would in their minds mean that nocoiners are right when they call Bitcoin a "gambling device" with no intrinsic value. But they are wrong, because speculation is just price discovery on a free market, there's nothing bad about it.

Libra is just the latest on the list of noob's reasons for Bitcoin growth, usually it's economic problems in some countries or on stock markets, political instabilities and so on.

[rhomelmabini]

Everytime the price pumps it doesn't have that we faced the same reason for that.
Also 2017 was a totally different year that today. You cannot compare the price that happen in 2013 with that of 2017 and so on. Libra is indeed a reason that we are pumping now.

So can we say that because of this news https://www.itpro.co.uk/policy-legislation/33865/facebook-libra-news dated 20th of June regarding Libra be halted reason that bitcoin price decline as well? When in fact that during that time it was given the price of bitcoin goes uptrend even Libra might face an issue and is called to Senate Banking Committee this coming July. So, in my opinion, there's a little chance that Libra hype is not the cause of Bitcoin uptrend price.

[RealMalatesta]

This getting a bit tiring to talk about the same thing over and over again. Libra is not even out yet and most of the people in crypto world see it as a bad thing because we are the type of people who are against the establishment and we would like to create an alternative reality of our own and even did it for financial world and you are here talking about facebook a huge social media conglomerate is actually causing the price uptick.

This is getting moronic, I am seeing more and more idiots in crypto every single day, not just regular bitcointalk users by the way I am seeing more morons on news and other places as well, I don't know the reason why they are suddenly talking about crypto or what draws their attention to crypto topic but somehow they are getting more in numbers.

[JohnBitCo]

At best

no one outside of the libra consortium is going to trust libra (and likely inside)

Alipay, Tencent or whatever will need a bridge to them ....

Large transfers between various systems will need to be done through a trusted zero counterparty risk with market depth .....  can any one say bitcoin....

I see that libra will somehow become associated with a BTC holding company to allow low friction to BTC then those that want withdraw to their private wallet.

So its hard to see how libra will not help BTC and be a massive on ramp,

Plus BTC has near a decade head start and a lot of dev and infrastructure in place.

The facebook libra coin will influence people to make use of crypto currency. There are many people who uses facebook but they never heard about crypto. But now by this facebook coin everyone will begin to talk about crypto and those who have less or no knowledge will start studying on it. In this way new money will come in crypto which will overall increase the marketcap of crypto currency.

[joshy23]

I don't know if the cause of the altcoin has risen because of the birth of a new coin called libra, but I have read a lot that this coin released by Facebook has an important role in rising altcoin prices but I have not found the exact reason they stated this statement, maybe  experts know better

There's no concrete information about that and even there's slight help coming from this new project it's still the end users who push the value up, maybe some of them are spectators for Libra project and just getting use for Bitcoin so they are beginning to buy bitcoin while waiting for this project.

[The Cryptovator]

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

I don't think current bitcoin growth due to Libra coin. Because bitcoin start bull run before Libra rumours (IMO). But likely Libra could reflect positive impact on total crypto-currency markets, just not only on bitcoin. Look like new investors coming into on bitcoin and that's the main reason of current bitcoin run. Libra would encourage to use crypto especially to all Facebook user. So its obviously a positive for crypto but not the cause of bitcoin growth IMO.

[Reid]

No, I dont think so.
Before I think it did but not now anymore.
It might have open some light for some people who dont know about bitcoin but it is not really the main reason of all this hype that is happening.

The world is just changing.
Some people might have seen there is no movement with banks and just decided to invest into something new.
Those some people could be rich and are now buying to keep it for future needs.

[romero121]

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

I don't think current bitcoin growth due to Libra coin. Because bitcoin start bull run before Libra rumours (IMO). But likely Libra could reflect positive impact on total crypto-currency markets, just not only on bitcoin. Look like new investors coming into on bitcoin and that's the main reason of current bitcoin run. Libra would encourage to use crypto especially to all Facebook user. So its obviously a positive for crypto but not the cause of bitcoin growth IMO.

As mentioned libra doesn't have anything to do with the growth of bitcoin. All that we experience with the increase in the price of bitcoin is the real growth that is due to the investors who made the market grow and further kept the growth alive with continued investments. Libra being a stablecoin isn't a big deal, can see more marketplace to accept libra keeping its circulation big. Now bitcoin has fallen little ad this too is of the investors who take back the funds causing a drop in the market capital and not the fading of the news relative to libra.

[Ridwan Fauzi]

Most investors know the libra coin will be, their system is far from the system of cryptocurrency itself. They try to make cryptocurrency changing its system from decentralized to centralized system or maybe libra coin will try to distroy decentralized coin because the factor regualtion but it's never heppens. Bitcoin has grown up a few weeks ago before the libra coin will be lounched, but the rumors that spread up in some media has popping up at that time. Maybe the hype was comed by it, but it doesn't mean most investor will wait and support libra coin. More than that they only use libra coin as a way for cryptocurrency especially bitcoin be known by all people, at least most people know cryptocurrency and they will choose bitcoin.

[sheenaedago]

Most investors know the libra coin will be, their system is far from the system of cryptocurrency itself. They try to make cryptocurrency changing its system from decentralized to centralized system or maybe libra coin will try to distroy decentralized coin because the factor regualtion but it's never heppens. Bitcoin has grown up a few weeks ago before the libra coin will be lounched, but the rumors that spread up in some media has popping up at that time. Maybe the hype was comed by it, but it doesn't mean most investor will wait and support libra coin. More than that they only use libra coin as a way for cryptocurrency especially bitcoin be known by all people, at least most people know cryptocurrency and they will choose bitcoin.

If many people will exchange this type of coin, there could be some probability if they'd have to use bitcoin as mode of payment for this. But if eth or other tradings will also adopt payment for libra, the orders will be splitted. Therefore it's not a contribution to bitcoin price growth if we rely only for libra.

[Distinctin]

If many people will exchange this type of coin, there could be some probability if they'd have to use bitcoin as mode of payment for this. But if eth or other tradings will also adopt payment for libra, the orders will be splitted. Therefore it's not a contribution to bitcoin price growth if we rely only for libra.

This is a good possibility, although Libra is a stable coin but it could also increase the demand of crypto.
Libra/BTC and Libra/ETH and more is possible, it will be a big help for Libra's trading pair to grow more since we know how big Libra is.

[darewaller]

What happened now than? I do not understand these people, when bitcoin is going up that is because Libra and facebooks power over everything in our life and they affected crypto as well (which is a total lie considering bitcoin started to go up and already did a double before facebook even mentioned libra) but when bitcoin is going down it has nothing to do with Libra.

Why is bitcoin down now then? Did libra suddenly got cancelled and facebook no longer doing it? No, they are still on track of publishing Libra on all their platforms but bitcoin is going down. Which shows you that libra and bitcoin has nothing to do with each other and from day one that connection was false, when it was going up it was harder to point out that fact but since it went down its easier to show how they are not connected.