The difference between Bitcoin and Facebook's Libra

[cryptoblazter]

The popularity of facebook is bring this Libra coin into spotlight, getting much attention. But, that popularity might not help Libra to be as great as bitcoin. One of the reason is that Libra is being controlled by facebook and its partner investors. While bitcoin is purely decentralized.

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[Ris88]

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.

Maybe at this moment it's busy crowded talking about Libra coins, but if I may assume that Libra coins are much different. it's just that the similarities in Lbira coins, which have blockchain technology that makes there are similarities in Libra coins, if most people think libra coins appear to rival bitcoin in the future. I think that is impossible, if it is assumed there is a possibility to push the price of bitcoin on the global market, in order to attract many users in all countries, which I know that Facebook Instragram and Whatsapp, are very many users even almost the whole world knows, then they made a breakthrough to make one Libra coin, to increase the growth of the worldwide cryptocurrency ...

[Lily_Olive]

I saw the coments of other some may think that bitcoin is decentralized where as the libra  is centralized.. is it so?? I think they are right.

[Austin_Lord]

I think there are not too much difference bitcoin and facebook Libra.. yeah i have come to know that facebook introduce  your currency which is libra.. well this is a good step..

[Slow death]

I think there are not too much difference bitcoin and facebook Libra...

Really? How long have you known Bitcoin?

I see that Libra adoption will be higher than BTC...

only time will tell, so far I see only a few people creating a lot of noise about pound, this was already expected as some people always get carried away by feelings (high expectations)


the high volatility that bitcoin has, is something that will continue to attract many people

[Austin_Lord]

I saw the coments of other some may think that bitcoin is decentralized where as the libra  is centralized.. is it so?? I think they are right.

May be you are right.. may be this is right.. well bitcoin is decentralized i admit...

[Spendulus]

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.

Don't believe the liars. Use your brain.

Decentralized means fully independent miners with decision making by majority vote.

[izanagi narukami]

If Libra really appear as decentralized currency, I think it has a chance for defeating bitcoin someday because as we all know how much "power" that facebook own to do anything.
We can also see more competitive rates in the market which mean UPTREND for most crypto !

[TastyChillySauce00]

If Libra really appear as decentralized currency, I think it has a chance for defeating bitcoin someday because as we all know how much "power" that facebook own to do anything.
We can also see more competitive rates in the market which mean UPTREND for most crypto !

It is obviously centralized, There's no way a company like Facebook would make a coin like Libra and set it loose without gaining the profit from.
Even it's obvious when big company such as Paypal and many others are starting to invest into Libra.

[pragna]

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!

Very welcome to Libra into crypto world. Though it has some problems initially by USA government but i think for time being it will be more effective coin to all. I think its an another turning point of Facebook and CEO.

[TheDigitalMan]

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.

Let's get a few things clear.  Decentralized in the sense that it will be handled by 100 different nodes spread around the world.  BUT and it's a big BUT... It's running on a "Permissioned Closed Block Chain"... the same as the JPM coin.  There is nothing decentralized about it in my humble opinion.  It's less decentralized the Ripple and I don't even consider XRP a proper decentralized coin.  Anyway, that's my two cents worth.  It's possible the coin will do well among the masses.  Probably because they won't know the difference nor will they care.  All they will care about is convenience until it bites them.

[rosezionjohn]

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

This one.

What's even funny is that they will try to become decentralized in the future. Why would they even plan to become centralized when their goal is to become decentralized 

[Leyss]

The difference between the coins of Libra and Bitcoin is that between them there is actually nothing in common. Libra is a stable coin, however it differs in many respects from stable coins, in connection with which many claim that it is actually not based on the blockchain, which means it cannot be considered as cryptocurrency at all.

[TimeBits]

The first thing that comes out of this guys mouth... clearly he did not read the first sentence of the bitcoin white paper either. Although he is right typically most people have not read it and think it is a asset. Not a e-cash as stated.

[Artemis3]

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.

Libra won't even make it to 2nd place, be thankful if it ever enters the top 10 altcoins, which i doubt.

Everything in Libra is wrong, its failure is guaranteed by its flawed design.

Centralization, plutocracy, us law jurisdiction, a company that can't even keep their core services running, transaction reversal, inflationary... this is garbage.

[erricducducan26]

Hmm I don't know if we can compare..

[muratsink]

certainly decentralized and centralized, but in general you can see the topic I made in this forum about the difference between Libra and Bitcoin.  https://bitcointalk.org/index.php?topic=5162865.msg51747726#msg51747726
and more interestingly, if the Libra project is successful then Mark wealth will increase by 19 billion dollars.  and that is amazing.

[Chikito]

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

Yeah, what the stable coin like libra as centralisation and bitcoin have desentralisation, that are big different, when some one can handle price on market and can do anything price and make it stable on exchange like stock

[Payme21]

You've summarized it all. Libra is a stable coin which means a rise and fall in its worth is highly negligible as against a coin like bitcoin whose value is determined by the community

[Red-Apple]

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.

Libra won't even make it to 2nd place, be thankful if it ever enters the top 10 altcoins, which i doubt.

Everything in Libra is wrong, its failure is guaranteed by its flawed design.

Centralization, plutocracy, us law jurisdiction, a company that can't even keep their core services running, transaction reversal, inflationary... this is garbage.

you are wrong. Libra can easily do that. in fact it can even take the number 1 place instead of bitcoin and it is simply because this ranking that people are using is WRONG since it is based on market capitalization.

an easy way to do it is to simply produce a huge supply that is bigger than market cap of bitcoin (billions) and since they control everything and their price is fixed at =1 dollar their market cap can be easily set in any way they like without ever changing.

this is exactly why for years i have been saying we shouldn't rank cryptocurrencies based on their market cap and this is exactly why top coins contain shitcoins such as BCH, BSV, XRP, ETH, DASH, XLM