The difference between Bitcoin and Facebook's Libra

[ropyu1978]

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 phenomenal nowadays.
almost every time a discussion or in this forum or other social media.
I think Libra will never be able to be like Bitcoin let alone become the king of Crypto. maybe libra can be a stable coin, however, bitcoin will affect everything from its decline or growth.

[Bitcoinqubit]

facebook is centralized and stable coin which not investment and very unhealthy from economic view as stable coins over time lose value and they stable while the price in supermarkets, houses,cars and other shit slowly go up in price.


facebook coin will be failure like the idea of poke which die very fast

[ubay]

I think Libra is like PayPal, but uses the blockchain as an infrastructure in it. That's good, because the more people use blockchain, then indirectly promoting bitcoin.

[Spaffin]

I think Libra is like PayPal, but uses the blockchain as an infrastructure in it. That's good, because the more people use blockchain, then indirectly promoting bitcoin.

Some professionals claim that the libra can be a real competitor to Bitcoin.  The fact is that this project can integrate in itself a very large number of payment systems that were previously used as a branch of banking systems.  And now everything will happen with the help of blockchain.

[diahsw]

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 difference between Bitcoin and Libra, the following explanation:

How to use

Bogart explained that Libra is a means of transportation where users can send money and make transactions from home. While Bitcoin strives to be a platform to facilitate transactions, and is considered more as an investment. Michael Moro from Genesis Capital, still refers to bitcoin as digital gold. Adoption Process

Libra opens the digital currency industry with many strong players behind it, including Mastercard, Uber, Booking Holdings, Visa, the Cannacord Genuity which will help Libra achieve mass adoption.

"There is a good [opportunity] to get a lot of adoption, while bitcoin is a grassroots experiment that is still under development," said Michael Graham, analyst at Canaccord Genuity.

Libra low-cost transactions must encourage customers to use tokens to send money, analysts say. Bitcoin, on the other hand, becomes more expensive and faster in making transactions.
Characteristics

The volatile nature of bitcoin invites buyers to trade crypto currencies. Because bitcoin is not owned or regulated by any central party and lives on a decentralized network, bitcoin is vulnerable to price changes.

Meanwhile, Libra is supported by currencies such as the US dollar and euro.

"Libra is a stable coin, supported by a basket of currencies and bonds. Bitcoin is a hypervolatile crypto currency, "said Tom Lee of Fundstrat Global Advisors.

[TheUltraElite]

I think Libra is like PayPal, but uses the blockchain as an infrastructure in it. That's good, because the more people use blockchain, then indirectly promoting bitcoin.

Indirectly it will promote blockchain usage but I doubt if it would promote bitcoin usage. Most of the pro-facebook users are dumbfucks who dont understand a thing about how this world works and how multinational companies are trying to take over all their data. They dont give a shit about privacy or being rebellious about all this big data thing and they consider bitcoin as a ponzi again because of their lack of knowledge.

I have doubts whether Libra will actually make anything bullish in the crypto market or just try to draw the crowd from bitcoin to libra like all other shitcoins have tried to do.

[felicita]

lets ee what happens with the facebook coin .
After he crashed on the real Exchange i guess the coin is also a big fail.
I hope no one invest in this faceshit.


regards

[Boriss]

I cannot even understand why people are comparing this two when they are not even on the same level, they do not even stand for the same values.

One thing was open source project while other one will be Frankenstein made with corporate money that serves only one goal to jeopardize even more freedom while at the same time steeling your privacy to sell you even more stuff that you could buy with their currency.

What is even more disgusting is the fact that people will eventually accept something like that because it's convenient and effortless. Just take a look on how much online tabloids people are commenting daily events with their Facebook account.

[dimastegar]

I am looking forward to how Libra will be used later. What are the utilities that Facebook makes for their coins and how the ecosystem they create. Possibly, they will create an additional platform to support Libra coin utility.

[Herros]

Libra tends to be used for everyday transactions that are commercial, such as sending money, buying houses, and other things online.

While Bitcoin as an investment and storage warehouse value because of its fluctuating nature.

[tiedcoin]

Bitcoin and Libra are both crypto-currencies, but in theory and practice are a lot different from each other. Libra has attempted to cement its place as a medium of exchange in the crypto market. Whereas, Bitcoin has been widely used and regarded as an investment and valued stored.
Bitcoin works mainly without intermediaries and Libra is trying to manage finances with a system. Bitcoin is truly decentralized. Whereas, Libra is only partially a crypto-currency since it is not decentralized.

[Gondar8393]

The main difference is Bitcoin's decentralized, Libra's centralized

[danick7]

Bitcoin is decentralized, and it is anti-censorship.

It also has more volatility, because it is not backed by fiat currencies.

[CryptopreneurBrainboss]

Apart from the decentralized and centralized, use of blockchain or not debate, i think the major difference will have to do with how your privacy is been handled. Libra just like Facebook will steal your privacy, sell them for profit or to profile you meanwhile bitcoin gives you anonymousity to some extent over yoyr privacy especial when you don't make use of 3rd party service providers that requires your carryout a KYC procedures like the centralized exchanges or wallet providers and even when you do, the use of mixers can be very effective.

[Carreuh]

Although both are digital eyes, bitcoin and libra differ both in terms of quantity quality or in other terms, libra is more used for daily activities, for example to transfer money and the like but bitcoin is more used for trading and investing in large amounts  and bitcoin already existed from libra

[premiumgifts]

i would never want to invest in a centralized coin. to much can go wrong imo

[tiedcoin]

There are major differences between Bitcoin and Facebook’s introduction Libra. Bitcoin is a highly volatile asset and fluctuations in its price are frequent. Libra on the other hand, is more of a stablecoin that is backed by actual currencies (USD, EUR) and commodities (Gold, silver).
Libra aims at becoming a more main-stream crypto currency and decreasing the factor of risk from crypto trading. It seems that in the future, Bitcoin will become a more investment asset like real-estate or gold.

[SquallLeonhart]

There are major differences between Bitcoin and Facebook’s introduction Libra. Bitcoin is a highly volatile asset and fluctuations in its price are frequent. Libra on the other hand, is more of a stablecoin that is backed by actual currencies (USD, EUR) and commodities (Gold, silver).
Libra aims at becoming a more main-stream crypto currency and decreasing the factor of risk from crypto trading. It seems that in the future, Bitcoin will become a more investment asset like real-estate or gold.

Even at the moment, people are beginning to hold bitcoin as store of value despite its volatility because they all believe in the future of bitcoin, Facebook on the other side may also not be restricted to stable coin alone, because they will want to create a coin that also have volatility based on what one of them said, he claim that Libra coin will also serve as digital assets but will in no way compete with bitcoin, so we can still expect some sort of volatility in the coin too so that people can benefit from holding it.

One main reason why it would never beat bitcoin is because as we know that bitcoin is still the only coin that seems to be operating on a decentralized platform which is why majority of its users is seriously holding on to it as the most reliable coin.

[Lalafell]

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 built on a secure, scalable, and reliable blockchain. It is fully backed by a reserve of real assets. A basket of bank deposits and short-term government securities will be held in the Libra Reserve for every Libra that is created, building trust in its intrinsic value. While bitcoins are created as a reward for a process known as mining in the computer. They can be exchanged for other currencies, products, and services.

[UsernameBitcoin]

Facebook Libra is a centralized going which cannot be compared to bitcoin. Yes it may be a cryptocurrency, but when one company controls it, it's basically defeats the purpose of what crypto is all about, which is independence.