Libra coin over Bitcoin is that possible?

[Deewhy2]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

[mocacinno]

Well, i'm a bitcoin enthousiast, but Libra has one thing bitcoin hasn't: a huuuuuuge marketing budget.
Eventough i haven't read the whitepaper of Libra, nor did i try to find sourcecode for a reference client, i'd still be suprised if the technology used for Libra would be much safer than the one used for bitcoin, however, the fact that it's such a big company that coupled it's coin to existing fiat coupled with an enormous marketing budget and endorsement of company's like VISA will give it an edge bitcoin has never had.

The thing is: Libra is not bitcoin... AFAIK, it's a centralised token coupled to FIAT markets produced by one of the biggest privacy-invading companies on the globe. The only thing that couples bitcoin to libra is the fact they both use blockchain technology.

[iqlimasyadiqa]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

Libra is in a position that is so good in the market, this strength is due to the big name that Facebook has. even though Libra is currently projected to be stable in the calculation at this time. But this power might be above Bitcoin, but it takes a long time. let's talk about the future and we are waiting for a much better situation towards the development of the existing digital currency market. Libra has potential because Facebook is a very large company.

[Ais08]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

I think this is very difficult for Libra coins to rival bitcoin in the world of Cryptocurrency markets, which I know that bitcoin has very strong investors and even the way it works is almost everyone knows, while the Libra coins are just planning. indeed nothing is possible, everything can happen at any time, but all their goals are to keep developing the blockchain technology and developing bitcoin throughout the world ...

[Ranly123]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

I think it is possible only if people will use and patronize this coin. Now talking about Bitcoin, people already know the use of it's platform and is widely used. So it would be hard for libra to take over the market just by it's popularity and not by volume in case it hits.

[mk4]

Libra to overtake Bitcoin in terms of marketcap and adoption? Very very possible. Actually, I'm quite sure that will happen.

Should we be worried though? I don't think so. Bitcoin and Libra are both in different leagues. One is a decentralized currency and SoV, and one is a centralized stablecoin. So there's that. It shouldn't matter in my opinion. If anything, this new Libra coin would be giving more nods to blockchain technology(whether or not Libra actually uses blockchain) and cryptocurrencies.

[Slow death]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.

people says it will take over bitcoin soon?

Who are these people who are saying that?

Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project

Russia Will Not Legalize Facebook’s Cryptocurrency, Official Says

French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16

will not be as simple as people imagine

[fatnet]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

no, because libra is enough centalized to be shit.
it has more common things with euro than with btc

[fatnet]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.

people says it will take over bitcoin soon?

Who are these people who are saying that?

Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project

Russia Will Not Legalize Facebook’s Cryptocurrency, Official Says

French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16

will not be as simple as people imagine

im sure that suckerberg is secretly buying bitcoins xd

[bitcampaign]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

why do they have to take over bitcoin and why not take over XRP, if they are traded on crypto exchange sites, I think their trading volume will shift ETH or XRP, it's impossible to beat bitcoin and I'll bet on that 
but I also support Libra projects that use blockchain technology

[DdmrDdmr]

<…>

Potential legal issues aside, as stated above, the nature of Libra and Bitcoin is completely different. What Libra has going for it, is the fact that is will be born having being designed at all levels to be a stable token that will be ready to use in commercial transactions, with heavyweight investors both economically and market dominants, on a network that should be robust and speedy, very low to null TX cost, and with user friendly alleged features in its Calibra wallet support.

Bitcoin, while aspiring to be a heavyweight coin for commercial use, has not been capable of taking the advantage of being a pioneer, and though it is still taking steps towards it, it is for the vast majority a store of (speculative) value.

Implementation technicalities (centralized/decentralized, stable/free flow, degree of anonymity, etc.) and passions aside, from an every day user’s point of view, out to perform day to day purchases, the concept of Libra and the powers behind is rather appealing to the masses.

[mk4]

why do they have to take over bitcoin and why not take over XRP, if they are traded on crypto exchange sites, I think their trading volume will shift ETH or XRP, it's impossible to beat bitcoin and I'll bet on that  
but I also support Libra projects that use blockchain technology

You're completely underestimating Libra. While I think Bitcoin is still better, Libra can a lot easily gain adoption due to it not having the current flaws of Bitcoin as a currency(e.g. scaling, price volatility, user-friendliness). Libra as a centralized currency and being backed by fiat, can be a lot simpler to use, and would currently be better to be used as a currency due to the stable value.

Note that they're aiming for global use, not just a stablecoin that you can use on exchanges.

[mitchr4]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

why do they have to take over bitcoin and why not take over XRP, if they are traded on crypto exchange sites, I think their trading volume will shift ETH or XRP, it's impossible to beat bitcoin and I'll bet on that 
but I also support Libra projects that use blockchain technology

The problem is we don't know the power of this centralized coin especially we know that Facebook and its sponsors are more famous than Bitcoin. For ordinary peoples think it will be better than Bitcoin. IMO It would be very easy for Libra coin to take over ETH or XRP on the market.

[phamminhtan]

Chances are, Libra will surpass bitcoin for popularity and attract more users than any currency, but before we see the results, we'll have to wait for a while.

[serjent05]

Well, i'm a bitcoin enthousiast, but Libra has one thing bitcoin hasn't: a huuuuuuge marketing budget.
Eventough i haven't read the whitepaper of Libra, nor did i try to find sourcecode for a reference client, i'd still be suprised if the technology used for Libra would be much safer than the one used for bitcoin, however, the fact that it's such a big company that coupled it's coin to existing fiat coupled with an enormous marketing budget and endorsement of company's like VISA will give it an edge bitcoin has never had.

The thing is: Libra is not bitcoin... AFAIK, it's a centralised token coupled to FIAT markets produced by one of the biggest privacy-invading companies on the globe. The only thing that couples bitcoin to libra is the fact they both use blockchain technology.

Adding to that, it is a stablecoins so it does not compete with Bitcoin.  Libra automtically nullified all speculative factor regarding its value where Bitcoin excel.  It should be compared against other stablecoins such as USDT, the upcoming Binance stablecoins , etc.

I would agree that there is a possibility that it will overtake Bitcoin in its popularity since Facebook have huge userbase around the globe.  The question is, are the users have interest in such cryptocurrency?  I will be one of those who are not for sure.

[CBANX Ltd.]

It's very much pre-assumption as Facebook has just announced their projects and Bitcoin is an established king of the crypto world and to surpass Bitcoin Libra has a long way to go.

[cryptoblazter]

Though bitcoin blockchain has established its position on the  cryptocurrency industry, the Libra blockchain seems to be very promising. It's looking to be as strong as the other blockchains out there. Overtaking bitcoin is a possibility.

[kevinzxz]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

of course that can't happen, because I'm sure Bitcoin will still be the king of all cryptocurrency until whenever and no one will be able to replace or beat Bitcoin including coin from Facebook, that is Libra and besides Libra there are still many better and popular coin (such as Ethereum and Binance that already have a real product) but still can't replace or beat Bitcoin, so I'm sure Libra won't be able to beat Bitcoin too.

[MonsterV]

so far I have not found the exact reason how libra will take over bitcoin. Even this coin that I know is centralized and stable, do you mean Libra will beat Bitcoin in terms of price? I don't think that is possible.
Or will Libra defeat bitcoin in terms of its popularity? maybe yes. But one thing makes me clear that Libra will not be the same as Bitcoin because Libra itself will not have investors like Bitcoin, Libra only works on a Facebook business scale.

The problem is we don't know the power of this centralized coin especially we know that Facebook and its sponsors are more famous than Bitcoin. For ordinary peoples think it will be better than Bitcoin. IMO It would be very easy for Libra coin to take over ETH or XRP on the market.

Well then in your opinion whether with lay people more interested in libra will make bitcoin fall? I think bitcoiners and old investors will stay in bitcoin because Libra itself does not have the potential to make a profit. And I think Facebook won't position libra into the altcoin ranks like eth, xrp, etc.

[Dontme]

The Facebook cryptocurrency coin Libra is now the talk in the cryptocurrency market, people says it will take over bitcoin soon.
But to me is that going to be possible, I took bitcoin years to reach were it is now and as the best coin in market and the first cryptocurrency its not that possible.
Lots of coin wit great ambitions have come knocking to take over from bitcoin but non could.
Will Libra be able to do so?

Facebook overtook all their social media competitors and made on the top in it`s industry. Libra has it`s budget as it is backed by a big company, so I think, if Facebook wants to overtake Bitcoin, then they could possibly do it.