The difference between Bitcoin and Facebook's Libra

[Reosta_]

Libra has become very popular before even listing on the market. I can say too that I know the main difference. Libra is stablecoin and I think Libra is closer to be a local currency compared to Bitcoin.

[Youghoor]

Its funny how people can easy make comparison between Bitcoin and a coin that hasn't been listed or made available for people to use.  Libra is just a stablecoin version of Ripple since both kinda have similar ideology.  I think its a bad idea to compare Bitcoin to Facebook's Libra.

[babysweetTiger0401]

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!

Are you joking or serious when you say Libra is stablecoin and Bitcoin isn't? Have you ever thought that Bitcoin has been a decade in the digital currency industry? What about you? so far as it has yet to launch and it is not yet known when it will happen, nor has the token been purchased yet, so you say stable coin instead of bitcoin, for some years bitcoin has been used for pounds unused. Hope before you post here you think it very well first.

[migws]

Its funny how people can easy make comparison between Bitcoin and a coin that hasn't been listed or made available for people to use.  Libra is just a stablecoin version of Ripple since both kinda have similar ideology.  I think its a bad idea to compare Bitcoin to Facebook's Libra.

Perhaps the author of this tread was looking for an explanation of why people on the Internet compare Bitcoin and Libra? I saw a lot of posts on social networks that Libra stablecoin will be the killer of bitcoin (it sounds very funny, like a fact that Facebook ensures the privacy hahaha )

[funchiestz]

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!

The section that attracted my attention the most;

Libra is coming to market with a lot of powerful players behind it…including Mastercard, Uber, Booking Holdings, Visa, which Cannacord Genuity says should help Libra achieve mass adoption.

“There’s [a] good opportunity to get a lot of adoption…whereas bitcoin was a grass roots experiment that is still in development,” said Michael Graham, analyst at Canaccord Genuity to CNBC.

So, then we can't think of Libra as a direct competitor to Bitcoin. We may call a new solution located between traditional payment methods and Bitcoin.
Libra will increase adaption to all projects based on Blockchain, especially Bitcoin in the near future.

Libra’s low fee transaction should incentivize customers to use the token to send money, analysts said. Bitcoin, on the other hand, got more expensive and slower in conducting transactions.

But I don't agree with that. Bitcoin transaction fee is not stable. There are high figures for today. But this may change in the future. Therefore, we cannot say that this comparison is very accurate.

As a result, it is true that Libra has begun to mobilize the market. But we will see together what will be the result later.

[Deborah Christine]

Libra is a stable cryptocurrency, supported by a number of currencies and securities sectors. Bitcoin is a crypto currency that is very volatile.
Additionally bitcoin is not owned or regulated by any central party and lives in a decentralized network.
Meanwhile, Libra is supported by currencies such as the US dollar and the euro.

[Shenzou]

I think that Libra is going to be a centralized currency that is going to be heavily controlled and moderated by Facebook, where bitcoin is decentralized and its network is controlled by the people using it, to me i think that Libra is just an attempt to make money off of the cryptocurrency trend that has been going on for a while, and they are hyping it up and selling false promises to get more investors, and it might just end up as a thing that no one uses, but never the less it might give enough boost to the crypto seance and the bitcoin if it was to prove to be somewhat of a success. 

[Astvile]

As far as I know no stable coin have ever come close to bitcoins price or even got close on top 100 of CMC.What will make libra coin strong is the team behind it.It is the ceo of facebook who funded this so news about it will get spread quickly for sure.But im not expecting something crazy from libra coin to be real.

[teosanru]

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 stable coin and bitcoin is not and I guess you must also have read the reason that why Bitcoin is not. Bitcoin is decentralized and this is not the demerit or shortfall of bitcoin it was created to be decentralized. Libra on the other hand is governed by a single agency which means it's just another model of ripple which is popularized by Facebook. It's backed by securities and debt securities? I don't know what do they mean with this because a cryptocurrencies is mined and not created by keeping a backing debt security. I think libra is just a digital currency with the securities backing however it's far away to be called a cryptocurrency because this is absolutely not how cryptos behave.

[coin-investor]

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!

Excerpt from the articles

Further, unlike other stablecoins, Libra will not be pegged to one currency but instead a basket of assets ranging from bank deposits to short-term government securities.”

Libracoin will not be just your regular stable coin in the tradition of Tether, it's bringing something to the table that other countries consider dangerous, so they banned Libra Coin, I'm still open to what Libra Coin is bringing to the table but I'm 100% supportive of Bitcoin because it is a store of value.

[MetalGear]

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!

Excerpt from the articles

Further, unlike other stablecoins, Libra will not be pegged to one currency but instead a basket of assets ranging from bank deposits to short-term government securities.”

Libracoin will not be just your regular stable coin in the tradition of Tether, it's bringing something to the table that other countries consider dangerous, so they banned Libra Coin, I'm still open to what Libra Coin is bringing to the table but I'm 100% supportive of Bitcoin because it is a store of value.

The said cryptocurrencies have lots of differences, one of those is they're different in terms of their monetary policy, bitcoin is widely known to be a decentralized cryptocurrency, if someone has bitcoin, they are the sole custodian of their BTC and the government can't touch it. Meanwhile, facebook libra is like the traditional currency that is backed by centralized institutions and agencies. Another factor that differs from Facebook libra and BTC is the technology used behind them. BTC is known for using the technology called blockchain that records every transaction anonymously on a public ledger. While libra, also uses blockchain technology or a distributed public ledger to be specific, but the catch is, the blockchain of libra is permissioned which means only group of trusted parties can add every transactions.

[Kizaki]

The difference is just huge,bitcoin is powerful and libra is powerful too but to weak to be compared to bitcoin.Yes libra coin has alot of supporter well what you expect from the company who developed it.But clearly bitcoin is still the best

[Lmaooo]

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!

Bitcoin is a fully decentralized currency while Facebook Libra is centralized shitcoin!
Bitcoin is open-source, backed by the people while Facebook Libra is not open-source, backed by Facebook, PayPal, VISA and so on.

[pawanjain]

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 big difference is the only reason why many people will start investing more in bitcoin.
I am not against Libra coin because it will pave the way for many investors to the world of cryptocurrencies.
This is the only reason I like Libra because it is owned by well known brand which will make it gain traction and hence popularize currencies like BTC and ETH.

[fullhdpixel]

Its funny how people can easy make comparison between Bitcoin and a coin that hasn't been listed or made available for people to use.  Libra is just a stablecoin version of Ripple since both kinda have similar ideology.  I think its a bad idea to compare Bitcoin to Facebook's Libra.

The same way that bitcoin was never intended to replace the fiat system of the government is the same way that I think Facebook never created Libra coin to replace bitcoin many of us can even see that many times the team behind the Libra coin has openly declared support for bitcoin which they believe that the Facebook Libra coin will only tend to facilitate the adoption of cryptocurrency, of which the use of bitcoin will be number one priority for many people.

Like you said, the Libra coin is a stable coin and can only function as utility token, while bitcoin encompasses of everything, both utility token, investment token and as a full decentralized coin while the said Libra coin can never ever be created in a decentralized manner that people want.

[amadorj76]

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

It will highly affect everthing in facebook, but I dont think that it will be the reason for facebook to end because of that. It might become the start for more success for both of them.
We should see for positive side and not for the negative.

[bounceback]

bitcoin and libra are the same as virtual currencies but what is the difference between bitcoin and libra, libra is an exchange tool or for receiving money and sending money or other transactions without having to leave home for libra users, while bitcoin is a platform to facilitate transactions and better known as investment coin

[XiaoshuaiLiu]

Libra is just an opportunistic and centralized startup launched by a powerful company profiting at the expense of its user’s personal information. Most likely it will fail. That is what startups do. They fail 95% of the time. It does not matter if they have been created by top-notch companies. There are so many examples of the later I will not even mention them here. Bitcoin on the other hand has already "established" itself as the most successful investment of all time. Its creation was the result of the collective effort of many individuals. Its original purpose was to empower the unprivileged and allow individuals to transfer money across borders without having to be subject to any centralized institution. Maybe it has become a little centralized and an instrument for a few individuals to rip profits out of inexperienced traders, but is still miles and years ahead of a project like Libra

[yurekaa]

obviously libra and bitcoin are very different. Libra adopts a centralized system because it was created by Facebook and will be controlled by the Libra association which consists of several large companies such as Mastercard, Paypal and Visa. so I think libra will be a stable coin. whereas decentralized bitcoin has nothing to regulate and control so the value is very volatile. because of this fluctuation most people use bitcoin for investment tools. and in my opinion libra will be used for daily transactions because of its stable value.

[Edraket31]

obviously libra and bitcoin are very different. Libra adopts a centralized system because it was created by Facebook and will be controlled by the Libra association which consists of several large companies such as Mastercard, Paypal and Visa. so I think libra will be a stable coin. whereas decentralized bitcoin has nothing to regulate and control so the value is very volatile. because of this fluctuation most people use bitcoin for investment tools. and in my opinion libra will be used for daily transactions because of its stable value.

Yes a lot of difference, so I don't think why people are comparing Libra over Bitcoin, it is just because it is developed by Facebook doesn't mean they are unique and will surpass the power of Bitcoin. I am seeing a lot of groups in facebook promising and making hype that Libra will be like Bitcoin so they are encouraging a lot of people to invest early, without telling the truth that Libra is a different concept. Hope that people will be vigilant with this matter.