Libra coin over Bitcoin is that possible?

[Deborah Christine]

Although Libra and bitcoin are both under the cryptocurrency umbrella, they serve different purposes on a wider market. Facebook plans to develop Libra into a global coin, classifying it into well-known currencies such as the US dollar and the British pound in an effort to prevent very volatile prices in conventional cryptocurrency such as bitcoin and Ethereum.

[sijonru]

Do not compare Libra over Bitcoin. That is like comparing Bitcoin with kardashiancoin, or trumpcoin with Bitcoin. That is, in all honesty, a stupid comparison. Libra is even having a hard time getting accepted by the crypto fans and supporters. Bitcoin on the other hand did not have to go through unnecessary hype to get accepted by the people.

I see it in a neutral manner, which means that the possibility of Libra Coin changing the position of bitcoin can occur, but whether it will come true or only time prediction will answer it.
If you see the background of Facebook as a social media that has many members throughout the world, of course, in theory Libra Coin will be easy to sell, but in practice it is uncertain. Because Facebook members don't all like crypto currencies, because they still like fiat money.

[Spaffin]

Perhaps Bitcoin and libra will have nothing in common, and therefore they can not have competition.  Something like this was predicted for DogeCoin, but nevertheless, this coin has its own fate, which does not intersect with Bitcoin.

[Mr.Ease]

Nope. Wont happen.

In fact, i wouldnt be surprised to see every hacker known to man trying to mess up the Libra project.
With centralized middlemen and god awful FB at the helm... I wouldnt doubt something shocking will make this libra the joke of the century.

Not too big a fan of FB setting up shop in cryptoland

[vladimirhf]

I think it's possible. the user base of bitcoin in numbers is nothing compared to facebook. they can reach millions of people easily.

[Hypnosis00]

I think it's possible. the user base of bitcoin in numbers is nothing compared to facebook. they can reach millions of people easily.

Yes, it might be in huge numbers but we are different in form. They can get attention but I don't know if could be enough for the investor to reconsider it and put money for investment. It could only happen if Libra has its potentiality for a market gain otherwise, it will only be overlooked by them.

[ophyrim]

Libra and bitcoin are two different think like apples and pears. The most important difference between them is of course centralization and stability of libra.
libra is a bad variation of some bad bitcoin variations.

[sijonru]

Although Libra and bitcoin are both under the cryptocurrency umbrella, they serve different purposes on a wider market. Facebook plans to develop Libra into a global coin, classifying it into well-known currencies such as the US dollar and the British pound in an effort to prevent very volatile prices in conventional cryptocurrency such as bitcoin and Ethereum.

ccording to observers, the presence of Libra launched by Facebook can shift the position of Bitcoin, mainly based on the assumption that the 2 billion Facebook member bought a Libra coin. Of course everything is still an assumption because the proof is certainly still long.
Indeed, the Libra coin can logically sell directly with a fantastic number of buyers, and this has the potential to boost Libra coin prices to a high level. But is there a guarantee that the prediction is proven, then the time will answer.

[The Sceptical Chymist]

Libra to overtake Bitcoin in terms of marketcap and adoption? Very very possible.

Even if that's true, the market cap metric's importance is very overblown and I wouldn't put too much stock into that.  As far as adoption goes, if that happens it will be because there are so many more FB users than bitcoin users.  To me it doesn't mean that bitcoin will lose popularity necessarily, because bitcoin has a very strong community of users and holders.  If Libra gets popular, it might even help bitcoin become even more popular.

Since I don't really follow news (even crypto news), I'm not very familiar with what Libra is or intends to be aside from the fact that it's Facebook's creation.  Is it centralized?  If so, it's nothing more than a proprietary payment system for FB, much like PayPal was for eBay before the former expanded in scope.  As I've said before, I don't support Facebook and I certainly want nothing to do with any cryptocurrency they create.  I think they're just jumping on the bandwagon of crypto popularity.

[Leo]

The most important hype about Libra coin for me is its connection with Facebook and its ability to on board over two billion users to cryptocurrency. Its simply the global adoption. Otherwise, its just another stable coin like tether or pax

that is the massive adoption lots of people are thinking that it might take over bitcoin which is not possible,  I can only see it among the top 5 or top 10 on coinmarketcap it cannot overthrow bitcoin

[Vaskiy]

Libra coin is just a payment system out of the centralized system. Facebook owns the payment portal which will get used in large scale in a much shorter time period as it is already established around the globe through its social networking. Op has stated about the libra coin taking over bitcoin in terms of marketcap which seems possible, but bitcoin and libra coin were entirely on different functional platform.

[vladimirhf]

I think it's possible. the user base of bitcoin in numbers is nothing compared to facebook. they can reach millions of people easily.

Yes, it might be in huge numbers but we are different in form. They can get attention but I don't know if could be enough for the investor to reconsider it and put money for investment. It could only happen if Libra has its potentiality for a market gain otherwise, it will only be overlooked by them.

It does not matter if it's not an investment. 1 billion people owning only 10 dollars of libra each would make a 10b market cap.

[raes]

not in price for sure, because if i'am not wrong libra is a stable coin
so, the value will always same, but bitcoin is the real deal in cryptocurrency mate

I don't see this as a match or opponent for bitcoin. in fact, the arrival of Libra in the Crypto market will bring new investment with new money, which might actually help the market to grow. we hope that happens, keep calm and wait for next year where the Libra coins will be released on the market,

[cassavachips]

With great capital and experience, of course, it will be quite easy to reach investors so that Libra is very confident to be a project that exceeds Bitcoin and this is quite reasonable. but that alone is still not enough because the project is still in its infancy and we still need time to see Libra achievements

[campusnet]

With great capital and experience, of course, it will be quite easy to reach investors so that Libra is very confident to be a project that exceeds Bitcoin and this is quite reasonable. but that alone is still not enough because the project is still in its infancy and we still need time to see Libra achievements

not even in my mind I saw Libra coin can be like bitcoin or get past the achievement of bitcoin. a new coin with a vision that is far away. may not be achieved, or indeed it will not be as expected. just see how later Libra will be on the market.

[klaaas]

but that alone is still not enough because the project is still in its infancy and we still need time to see Libra achievements

Where Libra needs to be regulated and controllable it would play out as a competitor for the fiat spaces with some crypto aspects to make it fancy. May Libra succeed it is something next to Bitcoin despite the price or projects Libra rolls out.

[carlfebz2]

Since I don't really follow news (even crypto news), I'm not very familiar with what Libra is or intends to be aside from the fact that it's Facebook's creation.  Is it centralized?  If so, it's nothing more than a proprietary payment system for FB, much like PayPal was for eBay before the former expanded in scope.  As I've said before, I don't support Facebook and I certainly want nothing to do with any cryptocurrency they create.  I think they're just jumping on the bandwagon of crypto popularity.

Jumping on the bandwagon indeed and its a heavily centralized one even if they would tell that this one is a crypto but it isn't really that different into those fiat/traditional payment option but at least they do make use of crypto which i do see some side advertisement of crypto and for those who got curious on what it is then they might be dragged up with
the whole idea of crypto which leads to BTC and other altcoins in the market.

[jonaire99]

It might take time for the yet to be release Libra to overtake bitcoin. I doubt if libra can really match the huge market capitalization of bitcoin in just a few years time, bitcoin market cap at present is $170 billion. Libra is reportedly a stablecoin and price is fiat-based so its main competitor is banks instead of the cryptocurrencies.

[SixFigures]

It might take time for the yet to be release Libra to overtake bitcoin. I doubt if libra can really match the huge market capitalization of bitcoin in just a few years time, bitcoin market cap at present is $170 billion. Libra is reportedly a stablecoin and price is fiat-based so its main competitor is banks instead of the cryptocurrencies.

In terms of market cap Libra will of course overtake bitcoin at first. There is no doubt about that. Since it is a stable currency it has nothing to do with bitcoin and also it is mostly centralized.

[Soots]

It's not possible to happen since libra isn't that profitable as bitcoin and we cannot trust since this coin hasn't yet established good community. We can't fall easily on new coins even though the appreciation tried to create possible hype, then it could be used by other whales to take advantage towards market potential.