The difference between Bitcoin and Facebook's Libra

[MegaAnalysis]

Here's a detailed article on this topic by CNBC:

cnbc .com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.html

In my view, the biggest difference between Facebook's Libra and the Bitcoin is that while Libra is a Stablecoin, Bitcoin is not!

[Furious 7]

very interesting, everyone comments and talks about libra.
even on social media almost all of my friends discussed libra. in fact Libra gets an obstacle from the US Government, and I think it is clear Libra will not be the same as Bitcoin.
but we are worth waiting for if the libra really will be a stable coin.

[Leh-Meh]

Libra will be game changer for facebook. It will mostly end facebook since facebook is famous for illegal activities.

[djcaoile1205]

Bitcoin's decentralized, Libra's centralized. That's the main difference.

[muratsink]

I see that Libra adoption will be higher than BTC.  with a coin stable system, Libra will have many users.  Retail also will be more comfortable making Libra coin transactions.  but in the long term, BTC can become an asset and compete with legendary assets such as gold.  and Libra coin is not good for being a long-term asset.

[Yakamoto]

Libra will be game changer for facebook. It will mostly end facebook since facebook is famous for illegal activities.

This would actually be a hilarious result if it ends up being true to reality. The amount of illegal stuff that happens in private facebook groups is apparently quite high and it's relatively prolific to my knowledge, of course that may just be the media overhyping what is actually going on in these private groups. If this Libracoin starts getting used by these same groups, that could very rapidly get facebook in trouble. Now all we have yet to see is how Libracoin is actually valued and how well it's backing securities do. Sounds like USDT round two if I'm being honest, and I can already see the fees to buy Libra ranging in the 2-5% as a "service charge" for facebook and co. I don't think it'll get very far, although the variety of backing securities may give us valuable experience when determining how effective a multi-backed currency can be in the future.

Maybe I'll farm some Libra just to get the extra dosh for my portfolio lol.

[Reid]

Here's a detailed article on this topic by CNBC:

cnbc .com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.html

In my view, the biggest difference between Facebook's Libra and the Bitcoin is that while Libra is a Stablecoin, Bitcoin is not!

That's it for you?
Stable coin and not?!!!!

I dont think it is enough to be compared to bitcoin.
Libra is Mark's coin. He could take it anytime he want.
Bitcoin is not. No one controls the bitcoin technology. Manipulating its price will take you to a risk that you could lose a lot of money.

There is too much difference that it is bad to compare it with that shitty project of Suckerberg. 

[Stedsm]

Yeah, a stable coin which would let them share all your purchase as well as Libra's use details to some of the so-called reputed companies for a handsome amount of Fiat (here: USD). Aren't you aware of the fact that Facebook is allegedly involved in smuggling people's data already to such companies even after being sued by many users under the law?

Bitcoin's decentralized, Libra's centralized. That's the main difference.

This is true, but people here suck on accepting it and adopt BTC ahead of anything else. Do we really need a stable coin?

Oh well, here's my own theory I wanna share and ask something to you.
A stable coin means an almost same state of a currency with a fixed value where 1 Libra will be equal to 1 USD only as it is Fiat pegged. But BTC is not like that as it is a speculative asset.

So, first of all, why the fuck are you people even comparing these two?

Second, what's the difference in coming up with a stable coin when you can already have an app with all payment methods available and money (in your local currency just like a National cryptocurrency) goes from one place to another without any extra charges? The only difference it will make, will (may) be that this crypto will allow you to transact at a borderless level, but who knows if it'll consist of any charges whatsoever in the future or not.

[CARrency]

Bitcoin's decentralized, Libra's centralized. That's the main difference.

It is said to be decentralized. If you are reading the post of Mark Zuckerberg, you would already know that. I don't even know what is happening with Mark's brain right now but I think this will fail.

[leftgirly]

It seems the buzz behind Libra is getting everywhere.  From the look of things, it seems many people feel the relevancy of bitcoin  and the other popular cryptocurrencies would be affected. I think all stakeholders in cryptocurrency should just be excited about a new coin to hit the market.

[GreatArkansas]

Here's a detailed article on this topic by CNBC:

cnbc .com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.html

In my view, the biggest difference between Facebook's Libra and the Bitcoin is that while Libra is a Stablecoin, Bitcoin is not!

Libra is Mark's coin. He could take it anytime he want.

Not only for Mark, but also for some other founding members. Mark Zuckerberg or Facebook can't fully control the Libra since there are still some founding member of Libra which is targeted by the Facebook that it could reach more than 100 founding members.

And also did you know that Libra is open-source?
Which the Libra project is open for public. I want to see more upcoming updates on Libra, and also there could be more founding members will be added? Especially how big those companies are coming for Libra.


And counting.....

Facebook says it hopes to reach 100 founding members before the official Libra launch and it’s open to anyone that meets the requirements, including direct competitors like Google or Twitter.

[CryptoBry]

There is a big media buzz (both mainstream and crypto-focused) on Libracoin and this is exactly what the team behind the project all wanted. Hopefully, they are hoping the popularity can be converted into adoption soon when the doors of Libra will finally open for public viewing and ownership. This alone is the big difference since bitcoin started like a seed of an acorn and there was no media blitz when it debuted to the world...in fact I would say that there were more pessimism on bitcoin than what Libra is getting now.

Of course, we know that many are accusing Libracoin to be centralized or basically that it is going to be controlled by Mark and his minions but how the final structure and the product will play that remains to be seen. Bitcoin will remains to be the king of the world of cryptocurrency and maybe perhaps he needs a queen with different traits and characters and that can be played by Libracoin.

I can see that Libracoin can be stablecoin as it is going to be backed by real and valuable assets unlike bitcoin which is truly what cryptocurrency is symbolizing. Well, the marketplace has big rooms for newcomers and with Libracoin having the backing of many and famous names in different industries I don't see why it can fail.

[pooya87]

In my view, the biggest difference between Facebook's Libra and the Bitcoin is that while Libra is a Stablecoin, Bitcoin is not!

lol, that is not even important
the biggest difference is its centralization which means you have to sign up with Facebook in order to be able to use this coin and also since they are controlling the network (mining and nodes and supply and....) they control your money like a bank does. so they can decide to "close your account" if they see fit, like for example if they suspect your activities.

[raidarksword]

Libra is creating a buzz yesterday on social media and mainstream media, obviously many are excited on what Libra can offer to the crypto currency. As i read some articles and opinions from experts that Libra is just a stable coin which is not gonna give much price on it and not worth for longer hold.  One more thing that bitcoin is decentralized, while Libra is centralized which means it can be controlled by someone or entities like facebook or mark perhaps.

[Kryptic123]

Bitcoin is far more decentralised than Libra is and ever will be. Libra is controlled by a group of organisations, which makes them not trustable. The only good thing that i see's with Libra launch is that more people would come to know about digital currencies now and will help in the long term adoption.

[Wind_FURY]

Bitcoin's decentralized, Libra's centralized. That's the main difference.

Because of it, I believe Libra might not be released because of regulatory push-back from politicians who will see it as a threat to the current financial system that they serve.

In Bitcoin. The honey-badger don't care!

[aad140386]

Libra will have a lot of support from Facebook, which is prevalent in almost all the world, but I basically support Bitcoin. If it were 3 more years ago, then I’m almost sure that libra would have won this competition. But now, when Bitcoin already knows the whole world, it seems to me that Bitcoin will win in the upcoming fight. I do not like Facebook, its policy towards users and their cooperation with the US special services.

[jubalix]

This is going to turn into a massive on ramp for Norminton/NPC to get into crypto and BTC.

It really makes Normintgton/NPC go huh but why BTC died right?

The FB consortium will have their peg broken by by traders and bank actors.

However it's another nail in the coffin for GOV and Banks.

[automaticmoney]

Libra used crypto currency and Blockchain that does nt mean there is a comparison between bitcoin and libra if we compare bitcoin and libra Libra is gaining the name in the light of bitcoin in reality libra is just a centralised coin

[MegaAnalysis]

Libra is indeed centralized whereas Bitcoin is decentralized. This is a big difference, of course. But for folks who are into Bitcoin (and other cryptocurrencies) for making money off the massive price increases, this is not that important. Most of them will care about only the price appreciation and Libra cannot offer that. There are so many ither differences as mentioned in the CNBC article.

For me, both differences are important, but I will not like to HODL Libra!!! Lol.