The reason Libra might be good for Bitcoins

[fiulpro]

Hello everyone I think the hottest topic nowadays is the Facebook new coin *Libra*.
We all know that it is going to serve as a major competition for Bitcoins, bigger than anyone in the market yet, now what about the good effects ? Let's look into them.

In 2018 there were 2.38 billion active users of Facebook , what does that mean , why is it important ?
Simple :- people trust Facebook, they have been here since years and therefore the scope is unlimited.

Now since they are releasing Libra , that is a cryptocurrency people will stop looking wide eyed on Bitcoins and other cryptocurrencies and since it's not evidently getting launched just tomorrow we have all the time in the world to welcome those 2.38 billion into the *maybe they will be using Bitcoins* world.

This way we have both increased our scope and at the same time it has enhanced and strengthen the market .

[romero121]

Yes, libra is truly good for the bitcoin. From my opinion the existence of libra has made a big awareness about cryptocurrency all over the world. Another important thing about the libra coin, it has got varied features. As libra is a stablecoin this doesn't get good acceptance among the traders, but the awareness it creates relative to cryptocurrency is beneficial to bitcoin.

[ginobitcoiner]

I also hope so, I hope that Libra can become a new color in the crypto currency without dropping anyone.
as well as bitcoin, as good as any Libra I don't want Libra to be able to drop bitcoin.

[Genamant]

the main reason Libra coin can contribute to bitcoin is it will bring more mass adoption to bitcoin
obviously with all the billion user of facebook
but the use case of this is not to be compare to bitcoin but to fiat currency in my opinion

[Om.monata]

Yes, libra is truly good for the bitcoin. From my opinion the existence of libra has made a big awareness about cryptocurrency all over the world. Another important thing about the libra coin, it has got varied features. As libra is a stablecoin this doesn't get good acceptance among the traders, but the awareness it creates relative to cryptocurrency is beneficial to bitcoin.

I hear if libra will be created stable coin? maybe this will help bitcoin as well as a USDT coin if it is properly created to become a stable coin. many are impatient to see Libra coins in exchange.

[dothebeats]

In 2018 there were 2.38 billion active users of Facebook , what does that mean , why is it important ?
Simple people trust Facebook, they have been here since years and therefore the scope is unlimited.

With the not-so latest news regarding the Cambridge Analytica scandal, exposing Facebook's exploits regarding personal details of people, I don't think people from around the world still trust the company the same, although many are still using the platforms they have established over the years. Using their services doesn't necessarily mean that they still vest their whole trust on the company. I have deleted my Facebook account not so long ago and have created a dummy one just for the memes, tbh.

Now since they are releasing Libra , that is a cryptocurrency people will stop looking wide eyed on Bitcoins and other cryptocurrencies and since it's not evidently getting launched just tomorrow we have all the time in the world to welcome those 2.38 billion into the *maybe they will be using Bitcoins* world.

This way we have both increased our scope and at the same time it has enhanced and strengthen the market .

A lot of those, perhaps would just not bother and do along with their daily lives while the few curious ones would do their research. I won't expect a lot of people would be interested in it the first time though I know that a substantial amount of that would be trying to comprehend. Publicity, that's the best thing Libra could do for bitcoin, nothing else.

[kingpin4321]

I think the Libra coin by Mark Zuckerberg and his partners is good for cryptocurrency in general in terms of exposing it to the world but it takes a different approach from facebook although it is built on the blockchain technology it's still more of a payment option so there is no other benefits for bitcoin other than It exposing crypto

[spadormie]

Now since they are releasing Libra , that is a cryptocurrency people will stop looking wide eyed on Bitcoins and other cryptocurrencies and since it's not evidently getting launched just tomorrow we have all the time in the world to welcome those 2.38 billion into the *maybe they will be using Bitcoins* world.

If you have an alt(libra coin) you are technically using bitcoin. Since bitcoin is the beginning of alts. Well, that's my point in crypto I don't know about other's perspective. Correct me if I'm wrong since alts are using the technology what bitcoin started.

But, you're right, this is also my view regarding with libra coin this will make investors come in cryptocurrency because of their trust on facebook. Having 2.38 billion join in crypto or even just 20% of that population is big for a  massive adoption.

[tomahawk9]

Now since they are releasing Libra , that is a cryptocurrency people will stop looking wide eyed on Bitcoins and other cryptocurrencies and since it's not evidently getting launched just tomorrow we have all the time in the world to welcome those 2.38 billion into the *maybe they will be using Bitcoins* world.

You have to be pretty delusional to believe that 2.38B people will suddenly enter the crypto market thanks to this FB coin. We'll be lucky if at least 5% or less of the FB userbase somehow gets interested in other cryptocurrencies because of Libra.

The only good thing that can come of this centralized corporate coin is that the average joe and the general public won't look at the word "cryptocurrency" the same way they did prior to Libra's launch (to most of them: crypto = scam or something used for illicit activities).

[rosezionjohn]

We all know that it is going to serve as a major competition for Bitcoins, bigger than anyone in the market yet,

No, I didn't know that.
How can a stable coin with a centralized network compete with a non-stable coin with a decentralized network?

Now since they are releasing Libra , that is a cryptocurrency people will stop looking wide eyed on Bitcoins and other cryptocurrencies and since it's not evidently getting launched just tomorrow we have all the time in the world to welcome those 2.38 billion into the *maybe they will be using Bitcoins* world.

This way we have both increased our scope and at the same time it has enhanced and strengthen the market .

Come on now, it's not like people are using all features of facebook. Majority of those 2.38 billion are only using it to browse and post status. If anything, those who will probably use this Libra (fake) crypto are the same people who use facebook for business.

[Shenzou]

Hello everyone I think the hottest topic nowadays is the Facebook new coin *Libra*.
We all know that it is going to serve as a major competition for Bitcoins, bigger than anyone in the market yet, now what about the good effects ? Let's look into them.

In 2018 there were 2.38 billion active users of Facebook , what does that mean , why is it important ?
Simple :- people trust Facebook, they have been here since years and therefore the scope is unlimited.

Now since they are releasing Libra , that is a cryptocurrency people will stop looking wide eyed on Bitcoins and other cryptocurrencies and since it's not evidently getting launched just tomorrow we have all the time in the world to welcome those 2.38 billion into the *maybe they will be using Bitcoins* world.

This way we have both increased our scope and at the same time it has enhanced and strengthen the market .

The facebook cryptocurrency that is being made; might not be the hero we want but it is going to be the hero we need, as you said the number of users that Facebook have across all of their platforms is huge and assuming that a portion of those get interested in this new coin and that might open their eyes on the others and on top of them the Bitcoin, and if their coin actually does good and proves to be a good profit, other major companies will start following and we will the the rise of crypto.

[dr.cheema]

I am confused about mark zuckerberg because he banned Cryptocurrency ads on facebook and now he launched his own coin!!
Definitely libra coin is good for Bitcoin because many folks will be attract to bitcoin because there is nobody behind this BTC
Let's see what will happen because bitcoin just trying to jump $10, after this jump there will be massive gain crypto market.

[arpon11]

I am confused about mark zuckerberg because he banned Cryptocurrency ads on facebook and now he launched his own coin!!
Definitely libra coin is good for Bitcoin because many folks will be attract to bitcoin because there is nobody behind this BTC
Let's see what will happen because bitcoin just trying to jump $10, after this jump there will be massive gain crypto market.

Bitcoin will benefit from the development of this Facebook coin (libra) because many people has not the knowledge of the blockchain technology and bitcoin and at that Facebook will help in publishing bitcoin and Cryptocurrency generally. The only main way bitcoin can easily be adopted is through social media and many people has said this before and I currently see the windows for adoption or mainstream through this Facebook coin! Facebook might have ban crypto ads before and that was done because of the way scammers were using it to scam Facebook users of their hard earned money.

[MysteryMiner]

If I cannot buy ganja or some pistols for my collection with Libra, and also receive ransomware payments, then it is not any more useful than good old PayPal.

[hatshepsut93]

Not all Facebook users will become Libra users, in fact most people will likely ignore it, because they won't see any point in using it in the first place. Then, even those who will use Libra won't automatically become Bitcoin users, if Libra will be very different from Bitcoin - i.e. no manual key/address management, no sync, no blockchain, no forks, no exchanges, no seeds, etc. - then people will have hard time going from Libra to Bitcoin. So, the positive effect of bring awareness to Bitcoin will be smaller than most people believe.

[Ferris419]

I feel the same. Those 2.3 billion people will come and look at the Bitcoin and when they would realize how free we are in bitcoin's decentralization, they will leave Libra and will be a part of us! Libra coin may help the cryptocurrency industry, because of it, people will stop looking wide eye as you said!

[Artemis3]

The only way it would be good to Bitcoin is because it will create some more awareness about crypto currencies and eventually people will find their way to the original and most successful of them all: Bitcoin.

And its a chance to educate the masses about the flaws of Libra, which are way to may to enumerate briefly here.

[vladimirhf]

If I cannot buy ganja or some pistols for my collection with Libra, and also receive ransomware payments, then it is not any more useful than good old PayPal.

lol but you could use them to buy monero

now seriously, I think it will bring many new users to coinbase

[rodel caling]

Yes of course their have good effect for bitcoin and for the whole crypto currency, for sure facebook user become a curious and people start asking about it.So without bitcoin or crypto currency in general this facebook project is also useless so possible all facebook user can start to learn what is the importance of bitcoin including the alternative coins because libra is become altcoin.

[Gibreil]

Libra might not cause a great effect to Bitcoin. According to what I read, Libra appears to be nothing more than a variation of the traditional financial system. This should not have much impact on the bitcoin price, as the world’s first and most popular cryptocurrency’s key value proposition is as an apolitical store of value and medium of exchange. In other words, the Libra has no effect on the “digital gold” market.