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

[betty11]

Trading companies and individuals will still rapidly embrace the bitcoin because of its decentralization, volatility and huge economic reward. Libra is just a stable coin which is going to be used mainly for payment. I see more companies coming up with their stable coin.

[Slow death]

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

Why did you think of that? Why do you think Libra is something that will kill bitcoin?

think of the following:

Why do you think people like bitcoin? Because bitcoin is a means of payment? I do not think it's because of that. so why do you think people would stop using bitcoin just because there is another currency that can be used as a means of payment? This is the rationale you should be doing.

[Khaos77]

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

Why did you think of that? Why do you think Libra is something that will kill bitcoin?

think of the following:

Why do you think people like bitcoin? Because bitcoin is a means of payment? I do not think it's because of that. so why do you think people would stop using bitcoin just because there is another currency that can be used as a means of payment? This is the rationale you should be doing.

That is kind of the point,
Many alternatives are better suited as a means of payment than bitcoin, and it's only true value remaining is as a speculative investment.

While a investment and a payment service won't directly complete ,
can bitcoin survive as only a speculative investment with no other utility service?
Of this there is an uncertain future, no merchant support could be a deadly blow to price.

Even Gold has multiple utilities usages in other areas than as an investment only , than drains supply in times of low prices.
As of now, Libra could totally end bitcoin as a payment service, giving it no other reason to exist.
And as nothing but an investment, is that reason enough, as it's original design required it to be a payment service to survive and thrive.
No Payment service, No fees for Miners as rewards continue to drop, and prices to maintain bitcoin network keep increasing.

Make your own judgement.  

[squatter]

Banks with no doubt will shill Libra with their most effective and expensive marketing. That's how I only see it.

Legacy banks want no part of it. Libra only threatens their market share for international remittances, as customers will move away from bank wires and towards the cheaper payments offered by Libra. Companies like Stripe and PayPal might be along for the ride, but legacy banks will probably be pushing their own competing products.

[Khaos77]

Banks with no doubt will shill Libra with their most effective and expensive marketing. That's how I only see it.

Legacy banks want no part of it. Libra only threatens their market share for international remittances, as customers will move away from bank wires and towards the cheaper payments offered by Libra. Companies like Stripe and PayPal might be along for the ride, but legacy banks will probably be pushing their own competing products.

Included in the List of companies supporting Libra, are VISA & MASTERCARD

One thing about Libra , it is encompassed inside the FIAT model (it can never outgrow FIAT Supply only grow it),
while Bitcoin can and does operate outside of the FIAT model (It does not have to be limited by it).

[Shenzou]

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

Bitcoin Created by Satoshi
VS
LIBRA Created by Corporations


Libra Specs are still not confirmed, but faster transactions speeds and lower transactions fees to gain market share seem likely.

Libra is Centralized Control and Bitcoin currently is not.

Libra value per coin should be stable since the Corps are backing it with fiat reserves, while Bitcoin price can rise or fall quickly.

My thoughts are merchants will flock to it because of price stability , plus a little corporate nudging.

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.

People are really overestimating the Libra coin, it is like any other crypto that is released out there maybe even worse since it is stablecoin, the only thing that is giving people the idea that it is going to be good is Facebook having a large user base, Libra won't be that good and it may be popular at first but than it will die out, so there is no fear from it and bitcoin will just stay the way it is, however what i am hoping is that more major companies take the step that facebook is taking to take cryptocurrency and make it the new way of life.

[Cryptrx]

I'm of the opinion that both will survive with one not impacting much on the other. The introduction of Libra coin will only result in much awareness of bitcoin, more investors will come in.

[sandra_x]

Libra is already having restrictions in some countries and many merchants will certainly have some reservations as to giving so much power to a centralized entity like facebook. I think Libra is nothing new, just paypal 2.0. Bitcoin will rule the world, People will see which coin really give them liberty

[squatter]

Banks with no doubt will shill Libra with their most effective and expensive marketing. That's how I only see it.

Legacy banks want no part of it. Libra only threatens their market share for international remittances, as customers will move away from bank wires and towards the cheaper payments offered by Libra. Companies like Stripe and PayPal might be along for the ride, but legacy banks will probably be pushing their own competing products.

Included in the List of companies supporting Libra, are VISA & MASTERCARD

...which are not banks. Visa, Mastercard and similar payment processors will be happy to implement Libra into their POS products and take a cut from merchants like they do today.

Banks, on the other hand, only stand to lose if people start holding funds in Libra/Calibra instead of bank accounts because it's cheaper to remit internationally. Just like banks created Zelle to compete with Venmo, they'll create a new, cheaper and faster system to replace SWIFT and begin competing with products like Libra.

[Searing]

Banks with no doubt will shill Libra with their most effective and expensive marketing. That's how I only see it.

Legacy banks want no part of it. Libra only threatens their market share for international remittances, as customers will move away from bank wires and towards the cheaper payments offered by Libra. Companies like Stripe and PayPal might be along for the ride, but legacy banks will probably be pushing their own competing products.

Included in the List of companies supporting Libra, are VISA & MASTERCARD

...which are not banks. Visa, Mastercard and similar payment processors will be happy to implement Libra into their POS products and take a cut from merchants like they do today.

Banks, on the other hand, only stand to lose if people start holding funds in Libra/Calibra instead of bank accounts because it's cheaper to remit internationally. Just like banks created Zelle to compete with Venmo, they'll create a new, cheaper and faster system to replace SWIFT and begin competing with products like Libra.

IF as you state above "people start holding funds in Libra/Calibra instead of bank accounts". As you quote above, this would be IMHO very, very bad for Bitcoin as a 'store of value'

If LIbra has the option to gain interest as a bank and be its 'own store of value". I am somewhat unclear on this, however. With all the online banking in the world, I find it hard to

believe that if Libra is sanctioned by the gov't and powers that be, it could not be allowed to also act as a bank and pay interest and do loans like any other web-based bank

out in the world. Thus, if this came to pass, could not Bitcoin and other open source coins be 'pushed out' and Libra replace Bitcoin?

Let me know what you think. I am befuddled. Everyone seems to think Libra will help BTC as a store of value, but I for one can't for the life of me, see why they would not

take these next and obvious steps and also make Libra a centralized coin as a store of value backed by Facebook. Just seems the way I would go if I was an 'evil mastermind'

and wanted to replace my 'centralized Libra coin" as the next Bitcoin that I could control completely.

So educate me on why this would or could not be done and/or why this would not be easy? Seems a clear enough evil path to me!

Brad

[CBANX3]

The analysis is good! As we can say that Bitcoin has given the birth to the digital asset whereas Libra is giving it acceptance in the corporate realm. Bitcoin was a mystery for all but Libra is open book, therefore, level of hesitation is lower and is acceptance is higher which is good for the financial world.

[Austin_Lord]

what i find funny reading about libra

says "protects users’ privacy by never mingling your Libra payments with your Facebook data"

but then says "You’ll pseudonymously buy or cash out your Libra online...  ...and spend it using interoperable third-party wallet apps or Facebook’s own Calibra wallet that will be built into WhatsApp, Messenger and its own app."

but then shows
https://techcrunch.com/wp-content/uploads/2019/06/Facebook-Calibra.png

oh look someones facebook profile in same app as the payment

people will laugh when they get facebook notifications/messages that a friend paid them X. and questions start arising 'but how does facebook notifications know'

the way i look at it. libra wont 'mingle' facebook data.. to avoid blockchain bloat.
but facebook will include libra data because how else will messenger inform you been paid

I have a question.. my question is that libra and bitcoin is same thing? Or they  are different from each other???

[Austin_Lord]

Libra, to me, marks the beginning of a new era in human history, the age of the corporations. We tried to find a new way by introducing public blockchains; however, it is more likely that corps like Facebook will control the Blockchain space soon, at least it will be perceived like that by the general public.

Hopefully, we will get back on track towards decentralization soon. BTC

Is bitcoin decentralized  or centralized?

[Lily_Olive]

Bitcoin is created by Satoshi.. but who is Satoshi?
Anyone know who is Satoshi? Well i heard  that bitcoin is decentealized.. is it???

[arpon11]

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

Bitcoin Created by Satoshi
VS
LIBRA Created by Corporations


Libra Specs are still not confirmed, but faster transactions speeds and lower transactions fees to gain market share seem likely.

Libra is Centralized Control and Bitcoin currently is not.

Libra value per coin should be stable since the Corps are backing it with fiat reserves, while Bitcoin price can rise or fall quickly.

My thoughts are merchants will flock to it because of price stability , plus a little corporate nudging.

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.

Time will really answer this question that has been in the minds of many of us. I think Bitcoin is too popular and the idea behind it will never allow it to merge with any stable coins and if it marge with any of them? Bitcoin will reduce its value as a decentralized currency which will never have a reserve in fiat and will never be stable like other currency because its aim and objectives are different from that of the libra coin. Another thing that I see might not play out is thinking that Bitcoin will be negatively be affected by libra coins because of the popularity of Facebook but from experience, bitcoin has fight governments, regulatory authorities, and Major currencies, and until now it remains very strong and will make a surprise when we get there.

[squatter]

IF as you state above "people start holding funds in Libra/Calibra instead of bank accounts". As you quote above, this would be IMHO very, very bad for Bitcoin as a 'store of value'

Why so? Most people already use bank accounts. Why does it matter if some of those people take some of that value and hold Libra instead of dollars or euros?

If LIbra has the option to gain interest as a bank and be its 'own store of value". I am somewhat unclear on this, however. With all the online banking in the world, I find it hard to

believe that if Libra is sanctioned by the gov't and powers that be, it could not be allowed to also act as a bank and pay interest and do loans like any other web-based bank

out in the world. Thus, if this came to pass, could not Bitcoin and other open source coins be 'pushed out' and Libra replace Bitcoin?

Libra users will have a centralized currency backed by quickly devaluing fiat currencies. Why would that replace Bitcoin?

[BigBos]

in my opinion, decentralized VS centralized, in chases Bitcoin by Hype on Twitter Libra coin is in second place.  beat ETH and XRP.  BtC has always been number one.  and I think.  Libra can't beat BTC.

pretty good assumption. however, Libra is also still priceless as newly released coins. maybe in the first time it appears, there will be very many people who are interested in it, but what next? it depends on the development. Until now, bitcoin has been very trusted, so, I think, it's still quite difficult Libra beat bitcoin for now.

[partysaurus]

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

Bitcoin Created by Satoshi
VS
LIBRA Created by Corporations


Libra Specs are still not confirmed, but faster transactions speeds and lower transactions fees to gain market share seem likely.

Libra is Centralized Control and Bitcoin currently is not.

Libra value per coin should be stable since the Corps are backing it with fiat reserves, while Bitcoin price can rise or fall quickly.

My thoughts are merchants will flock to it because of price stability , plus a little corporate nudging.

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.

dont think libra will have the breaktrhough alot of people think its not the next big thing for people outside crypto, more people know about bitcoin than libra that dont invest in crypto, heck most my friends dont even know what libra is but all of them know what bitcoin is even if they dont invest.

[samuraijin]

I think they have no desire to compete with bitcoins or other crypto currencies, this will certainly oppose many other crypto communities, so this is very common like many new altcoins that grew up some time ago until now, my view is Libra support only from some bitcoin communities because it uses blockhain technology, no one knows because they haven't released it whether the transaction can be much faster

[bettercrypto]

It is up to the users who are comfortable to invest with. But I want to say that we need to diversify our portfolio. If we will leave libra, maybe we will regret once it goes to a successful coin. Imagine, many people are expecting libra to launch and being part of it, assume that there are also people that will buy libra coin. Now, it`s either bitcoin will affected negatively by this coin or it may be complementary for BTC to have libra. So, better to invest both.