Libra VS Bitcoin (2 Coins Enter 1 Coin Leaves????)

[squatter]

Bitcoin will still be harder to censor than Libra and its price won't be as stable,
but investors and traders don't want stability, they make money with the market swings.

So Investors and traders will still favor Bitcoin,
While Merchants will favor Libra.

So what is everyone's else thoughts?

Will one defeat the other or are they fighting in different rings and never shall they actually face off.

They aren't competitors. Libra is just a stablecoin launched on its own private/federated blockchain. Tether and USD Coin aren't competing with Bitcoin and neither is Libra. This is just Facebook's entry point into the global remittance market.

Anyone who uses or values Bitcoin for its monetary properties, speculative value, censorship resistant and irreversible qualities, pseudonymous privacy, etc. will continue to prefer Bitcoin. Libra doesn't address those use cases at all.

[pooya87]

no they don't "enter" together because it is like comparing something like BMW with Samsung and say two companies enter and only one leaves! they don't even do the same thing or eve are in the same category to want to be compared with each other.
the Facebook crap is just another online payment processor that is closed sourced (both source code and running node is owned by the company), centralized, and owned by a company that has no respect for user's privacy. meanwhile bitcoin is decentralized, open source and anybody can run a node on his own and nobody can control it or censor some people from using it and some others not.

[shoreno]

Our community is only here because of BTC, we all share the same ideas behind BTC and cryptos in general
I'll not support this coin, no matter what, and I expect almost all people do the same

easy bro  . this is just a normal coin  . this facebook's libra coin dont differ from other coins out there that come and go  . its normal at first to see this coin at hype but eventually the hype will subside and people will return to praise bitcoin again   .

you did mention this community  . this community  is not only for bitcoin but its for general  , we can talk about other coins and other stuffs as long as they are placed on the right section of this forum .

[Herbet Fry]

I think most of us will support bitcoin since it is decentralized and run by us. Facebook is very much centralized and collects and have so much personal info from people. Now they want to make even more money from us. Have you seen how much facebook advertising is lately? It's insane. I think the nature of cryptocurrency is more likely to attract people who are against the way facebook runs. We still use facebook but we don't like it.

[blue_nexus15]

By objective judgments, according to the indications from Libra coin and Facebook's reputation. It has great backing from big partners like Mastercard, Visa, Uber ... Just because it ignores volatility and decentralization. I will personally support bitcoin. Because of the inherent characteristics of the crypto market. volatility is characteristic that never loses charm.

[Marcus yoyo]

The presence of Libra coins from Facebook companies will be a tough competitor for Bitcoin. There are many advantages offered by Libra which are not available in Bitcoin. Libra also guarantees that the coin has price stability. Different from bitcoin, the price of which cannot be controlled centrally. Bitcoin will provide huge profits when the price skyrocketed and will make the poorer when the price drops. Different from the stable price libra, but if fortunately the profit is not as big as bitcoin and when the loss then the loss is not as big as the loss suffered by bitcoin. I think these two coins will fight to get as much public trust as possible.

[borrorofju]

When it is planned to launch another cryptocurrency on the market, a large brand like a facebook arises more doubts than joys. Even using a blockchain, can they guarantee the confidentiality and security of user data? What about past scandals, where did the whole world find out about the flaws in their privacy system?

[americanreamt]

They ultimately have a grandiose goal to compare with Bitcoin in popularity and make a very flexible product that will allow a large number of users to send cryptocurrency without any problems and use it for purchases. However, on the whole, the society is not prepared to start using cryptocurrencies en masse, since speculations are too strong

[geerus]

They ultimately have a grandiose goal to compare with Bitcoin in popularity and make a very flexible product that will allow a large number of users to send cryptocurrency without any problems and use it for purchases. However, on the whole, the society is not prepared to start using cryptocurrencies en masse, since speculations are too strong

The society is not ready, because there are not enough popular sources where people could learn how to use cryptocurrency. I am glad that I found the project taklimakan, he helped to deal with many terms and understand how to trade on the crypto exchange. But we still continue to see cryptocurrency price manipulations. So it will be interesting that Facebook will be able to offer users and investors.

[bimvo]

I perceive the expansion of the cryptocurrency market positively. Because there was a time when people did not believe in the blockchain. But now it doesn't even matter which companies, facebook, visa or paper are launching their coin. All this shows the value of the blockchain and reinforces public interest in it. So people can better understand the true value of decentralization and the power of blockchain technology, and innovation can start to happen faster and faster.

[deisik]

So what is everyone's else thoughts?

Will one defeat the other or are they fighting in different rings and never shall they actually face off

I think this is a false dichotomy

As we already have the US dollar which is not a lot different from this new kid on the block. So, if anything, the wannabe Bitcoin killer will have to compete with the dollar, not Bitcoin, as it is centralized and thus not particularly different from any other fiat out there. In simple words, there is nothing to worry about. In fact, we should welcome these attempts at taking Bitcoin down as it will come out only stronger in the end and more people will learn about it

[Snaic]

It seems to me that Bitcoin owners have no cause for concern, and therefore there is still no cryptocurrency market leader, And if it is used for its intended purpose, its superiority will be undeniable.  Although if you take into account the new project Facebook, which brings together under its auspices more than 29 companies that are engaged in the transfer of funds, the Libra project can make a really strong competition for Bitcoin.

[Tiennou74]

Bitcoin will be King always ! and Libra will be stable coin, Libra will have new wings, and it will open new gates for crypto's world.
it seems Investor might have great trust toward to Blockchain industry. let hope for the best ! Bitcoin to 50,000$ by next 2022

Happy Trading
Thanks
Regards
   

[Deewhy2]

Libra leading bitcoin is close to impossible because of some reasons:

Russia government says they won't legalize Libra coin
( https://cointelegraph.com/news/russia-will-not-legalize-facebooks-cryptocurrency-official-says)

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

French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin
( https://cointelegraph.com/news/french-minister-of-economy-to-ask-for-guarantees-from-facebook-in-regards-to-its-forthcoming-coin)

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16
( https://cointelegraph.com/news/senate-banking-committee-sets-hearing-on-facebooks-crypto-for-july-16).

If you are able to go true that you will see that Libra surpassing bitcoin might not be possible. 

[nydiacaskey01]

Our community is only here because of BTC, we all share the same ideas behind BTC and cryptos in general
I'll not support this coin, no matter what, and I expect almost all people do the same

easy bro  . this is just a normal coin  . this facebook's libra coin dont differ from other coins out there that come and go  . its normal at first to see this coin at hype but eventually the hype will subside and people will return to praise bitcoin again   .

you did mention this community  . this community  is not only for bitcoin but its for general  , we can talk about other coins and other stuffs as long as they are placed on the right section of this forum .

I guess you are right on this one, the only difference between Libra and Bitcoin is Libra gained popularity because of its developers and backers. However, I don't think it will be accepted like us using Bitcoin because of anonymity. I think Libra developers will use the data that they have with Facebook to get your hands with Libra. Imagine signing in using Facebook to access your account in Libra. No KYC needed.

[dmty.0809]

With the new coins created by Facebook, it might have a bad impact on Bitcoin because Libra Coin will become a digital currency and will get support from real world asset reserves including bank deposits and government securities for the short term. Already this Libra money is also controlled or held by a network of guards.

[squatter]

Russia government says they won't legalize Libra coin
( https://cointelegraph.com/news/russia-will-not-legalize-facebooks-cryptocurrency-official-says)

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

French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin
( https://cointelegraph.com/news/french-minister-of-economy-to-ask-for-guarantees-from-facebook-in-regards-to-its-forthcoming-coin)

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16
( https://cointelegraph.com/news/senate-banking-committee-sets-hearing-on-facebooks-crypto-for-july-16).

If you are able to go true that you will see that Libra surpassing bitcoin might not be possible. 

This actually highlights Bitcoin's strengths over centrally issued currencies like Facebook's Libra coin. There's no central choke point where governments can target Bitcoin and force changes upon it. Facebook, on the other hand, can easily be pressured to the whims of governments.

[FUD Expert]

Banks  with no  doubt will shill Libra with their most effective and expensive marketing. That's how I only see it. But I think China or other asian countries will never let it enter their market just like how Google and facebook is banned is China. So sorry. Mr. Zuck but only bitcoin will be the one who will win this game and not by your Fb empire' coin who will surely sell private information.

[klaaas]

With the new coins created by Facebook, it might have a bad impact on Bitcoin because Libra Coin will become a digital currency and will get support from real world asset reserves including bank deposits and government securities for the short term. Already this Libra money is also controlled or held by a network of guards.

All this can also be done without facebook credits. Where anyone can use Bitcoin only people who wants to take a selfie with a date and smile will be able to when a forced kyc is needed.
This network with guards will make the ultra rich even richer and ensure they stay in control.

[Ris88]

With the new coins created by Facebook, it might have a bad impact on Bitcoin because Libra Coin will become a digital currency and will get support from real world asset reserves including bank deposits and government securities for the short term. Already this Libra money is also controlled or held by a network of guards.

In fact, I think that Libra coin will be a pump for the price of bitcoin later on, even I think libra coin will be the second coin after Ethereum that we have seen is always with Bitcoin, will Libra coins replace Ethereum's position ??