Libra's chief says, Libra is not a threat to bitcoin

[Tipstar]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

[Lagonda]

Of course it's not. Only idiots say Libra is a Bitcoin's threat. How can be a stable, centralized coin threaten bitcoin? Only one thing that Libra wins over bitcoin is that it consumes a lot of attraction in the last couple of days and makes people for get the fact that bitcoin is reaching $10k.

[MiF]

That's good thing about Libra and now the chief already revealed that their coin has nothing to do to threaten bitcoin economy. There's a separation between bitcoin and new rising Libra coin, and despite of the fresh popularity we can't assure more demands coming yet. Though we think it's more advantage from existing cryptos, but it might need long years to generate good markets for new coins.

[muncuss]

Those two are clearly very different coin. maybe even bcoz libra more ppl will know bitcoin.

my think libra will be categorized as common transfer tool so it may be threat for same service (paypal? banks?) considering facebook user amount

[Zidan Bst]

That exaclty Bitcoin will not defeated by Libra.
Libra is the stable coin for the community of facebook,imo.

[passwordnow]

Though David Marcus works for facebook now it can be manipulative or he's just telling the truth. But I don't actually see any threat for bitcoin about bitcoin. He's right that bitcoin is good as a long term investment because everyone treats it carefully as a store of value.
While Libra is going to be a digital cash that can be used everyday because it has a stable value. I don't get it why people keep on arguing about Libra as a bitcoin killer, it's not even new.

[electronicash]

its a stablecoin. everyone knew its not a threat. the userbase of facebook is used for its advantage. this is overly hyped. BTC will always rise, they knew they can't beat it so they already conclude they will fail in  beating btc in terms of its cap.

[Lagduf]

That becomes stable-medium that similar as stable coin and i hope there will be a market pair for bitcoin and libra and we can see what will happen when so many new comers are putting their money to the libra and this will help the adoption for bitcoin.

[Lawrenzoo]

Those two are clearly very different coin. maybe even bcoz libra more ppl will know bitcoin.

my think libra will be categorized as common transfer tool so it may be threat for same service (paypal? banks?) considering Facebook user amount

That is exactly where i see the battle starting from too, i see ripple, tether, banks really going down, while paypal mat still be relevant because they are already partnering with a cryptocurrency too, i think it's bitcoin or ethereum, can't remember again.

[florac9]

I never think that Libra will be a threat to bitcoin for once because I'm sure libra can't defect some altcoins not to talk of bitcoin,and Libra coin is a stable coin just like usdc and usdt so its a stable coin but I'm sure that once Libra pair to other top coins is available on market many new investors will come into crypto and the adoption rate will keep raising

[Chika08]

Yes I read the news where the Libra chief said the coin is not a threat to bitcoin and that's true it's definitely not a threat to bitcoin. Also the current news now is that the libra coin is not a threat to bitcoin but to the government, funny but all of this are just hype and people are definitely buying into it.

[RealMalatesta]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

Their operation against Bitcoin is not what needs to be defended, because it would have even been impossible for Libra to threaten Bitcoin based on some reasons he stated, they cannot ever have same function wherein Facebook function is far more than what Facebook Libra can function for.

If David Marcus is to defend their coin against anything, it is government institutions, because I really see government coming hard on them in future for this stable coin they are about to create. This stable coin may make people to dump banks completely and start converting their funds into Facebook stable coin which will be more reliable than tether for transactions.

[fullhdpixel]

its a stablecoin. everyone knew its not a threat. the userbase of facebook is used for its advantage. this is overly hyped. BTC will always rise, they knew they can't beat it so they already conclude they will fail in  beating btc in terms of its cap.

I dint know why crypto community should be worried over something that is totally impossible, have they forgotten that Facebook coin may work in a centralized way with their stable coin, while the real reason for people’s acceptance of Bitcoin for payment of goods and services is because of its decentralization.

It is not that people would not accept Libra coin too, at least Libra will still be more useful and more reliable than tether, but it’s acceptance cannot even be as much as Ethereum, before we start talking of Bitcoin. I expect Libra coin to even attract more people into Bitcoin community.

[vixcious]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

That's right. There are many members here who don't understand the problem and they are still comparing Bitcoin and Libra coin.
The purpose of Libra coin when it comes to crypto market is to develop and expand payment service, they want to serve the best for investors or traders in crypto market.
they only focus on developing and upgrading their payment services.

[Herbert2020]

There are many members here who don't understand the problem and they are still comparing Bitcoin and Libra coin.

the large wave of people talking about Libra and asking how they could "invest" in it while it is going to have a stable price only proves that majority of people around here are newbies who don't do any kind of research whatsoever and only work on hype.
that is why the altcoin market is so shitty. because good projects never grow and only shittiest ones that get the biggest hyped and pumps come up and take the higher ranks among altcoins.

[katerina5643]

tbh its a very controversial news. on the one hand Global coin will be really easy to get, retain & use it. But on the other hand we dont know exactly about its safety and real purpose.
however, it seems to be good payment system.also u can read more information here https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html

[sjbi]

I also think so. Both of the digital currencies work in a different way. So there will not be any competition between Libra and bitcoin I think. Facebook has already announced that its Libra coin will not be used as a utility coin, and its price will remain stable unlike bitcoin. Facebook users use the coin not for investment prospect, but for utility purpose. However, bitcoin is a completely investment project.

[growthincrypto]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

EXACTLY! Libra is like buying Amazon gift card except that you will be able to buy many things from it. On the other hand, Bitcoin is like GOLD(yes better) whose price may change anytime.

[bitsurfer2014]

I suppose both cryptocurrency will not be rivals but rather they would complement each other since both reinforces the notion that cryptocurrencies are an inevitable reality in our near future. I think this will be the beginning of a significant milestone in mass adoption we've never seen before. Imho.

[shark69]

That exaclty Bitcoin will not defeated by Libra.
Libra is the stable coin for the community of facebook,imo.

I think Libra is not only used by the Facebook community, but can include universal.
For example, as used for payment of ads on Instagram, which is clearly the purpose for social media users.

[creeps]

That exaclty Bitcoin will not defeated by Libra.
Libra is the stable coin for the community of facebook,imo.

They can’t go and beat bitcoin as easy just like the hype, they have to be more a stable coin so many users will use their coin on their platform and that’s why they created Libra coin just like that. This will still be a big coin but not a big threat, bitcoin knows it.

I suppose both cryptocurrency will not be rivals but rather they would complement each other since both reinforces the notion that cryptocurrencies are an inevitable reality in our near future. I think this will be the beginning of a significant milestone in mass adoption we've never seen before. Imho.

Its the function of altcoins, to complement with bitcoin, the adoption is already happening but it will become big when Libra coin takes the market and also other big companies in the future.

[robelneo]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

I have seen some people opposing Libra coin thinking that is a big threat to Bitcoin's progress, but they have clarified this already, Lobra coin should proceed it will be good for the community, and besides its great news that the huge company on the internet is now part of the industry, experts have anticipated this in the past and now it's happening.

[mirawantirinjana]

its a stablecoin. everyone knew its not a threat. the userbase of facebook is used for its advantage. this is overly hyped. BTC will always rise, they knew they can't beat it so they already conclude they will fail in  beating btc in terms of its cap.

Yes, I also don't understand why people are afraid that Libra is a threat to Bitcoin.
Libra is a stable coin and Bitcoin is a very unstable coin, this is very far from the word threat, they have their own path.

[Bananington]

Yes definitely Libra is not a threat in any way to Bitcoin. No altcoin will ever be a threat to BTC because it's the pace setter. I understand new altcoins with great architecture and features spring up, even some claiming to be Blockchain 3.0 , with higher TPS,  but BTC has always proven to be King and that's just it.

[cribusen]

For sure it is not a threat to BTC, because it is a centralised asset again. Facebook confirmed that Libra is not an anonymous coin and they will give all the needed information away if asked by police or government.

[bittraffic]

Does it mean that a Paypal president was secretly been investing BTC being a fan of it?  Good that they finally admit. I do think its not just the paypal staff that liked BTC but bankers too.

Anyway, if its a stablecoin, its price will always be pegged to a fiat currency, it doesn't grow so how can it be a threat? I'm not sure either but it could be jsut as tether being the one used to accumulate more BTC. To which facebook could grab more BTC for them.

[Zidan Bst]

I think Libra is not only used by the Facebook community, but can include universal.
For example, as used for payment of ads on Instagram, which is clearly the purpose for social media users.

If Libracoin can be used as a payment, it will more interesting and promising.
This coins can really has usefull in the real life.

[Zidan Bst]

They can’t go and beat bitcoin as easy just like the hype, they have to be more a stable coin so many users will use their coin on their platform and that’s why they created Libra coin just like that. This will still be a big coin but not a big threat, bitcoin knows it.

Exactly true, Bitcoin will not defeated with only hype coins.
This libracoin maybe only take place on the most top 20 Altcoins.

[Searing]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

This may be true in the short-term, but in the long-term, I have a hard time believing that if Facebook with the Libra coin has their way. With 1.5 Billion folk on Facebook,

once settled in as a fast crypto payment system, that they will not go after bitcoin and try to 'usurp' as a store of value coin. If they get established the simple fact of

adding staking to Libra coin and/or just traditional interest payments like banking for HODL'ing Libra, or other avenues. They will figure out 'something' and claim there

centralized Libra coin is the future of crypto. I'm positive about this scenario.

Again, this may be 'unlikely' to work, but they will once they have established, and solidified, their Libra coin and infrasture, and make a play on such, count on it.

 Less is never enough to a mega-corporation, it is how they roll. Hell, before my view of above ever happens they will try to destroy (or merge with) PayPal, western union and

or Bitpay! Hell, they could be (even if what the Facebook currency chief says above is true, not threat to bitcoin) the online bank or online banks! Again, with 1.5 billion world

wide users, you just know the third world folk with 'shakey' countries and currencies are gonna jump all over this Libra coin. Anyway, I make my case, that this is just the first

shot at Bitcoin, they will go after it, successful or not somewhere down the road by some means, Libra will take a shot at replacing Bitcoin.

Again, it is how Facebook rolls. IMHO. We will see if I am correct (I hope not) or I'm incorrect (I hope so).

Brad

[Distinctin]

He is right, it's just that many still does not understand the difference of two.
Bitcoin has a chance to continue to increase its value but Libra has no chance since it's a stable coin.

It could be the most efficient payment system since it's guaranteed to have a high adoption as facebook already build that but in terms
of investment side, the trust of the majority of people in bitcoin will remain.

[Leonardo7]

We all know it's never a thread it's just some fanatics and worshipers of Facebook and Paypal and the likes that think it's going to replace bitcoin. Never forget that telegram is planning their stable coin too called the GRAM and other big companies are likely to come up with their coin model so Libra will have many stable coins to contend with. Bitcoin remains the king.

[styca]

I wouldn't trust anything that Facebook or Libra says. They have a history of lies and misdirection.

They are nothing if not ambitious, and I think their real target is to replace the US dollar and become the default global currency. In this way it could become a threat to BTC, but as it's centralised I do'nt think they'll manage it. There will be a lot of opposition.

[Babyrica0226]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

I think the former President of Paypal has a reason to get stressed, because in my perception about Libra, that there is a possibility that libra can surpass Paypal in terms of payment system online, but not in Bitcoin of course! Since that we don't have any much proof in it, were everything was just still an speculations let us see what could happen in the next day, weeks or months.

[smyslov]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

Those words are misleading, they just want people to ease up on Libra coin so they can launch without oppositions, there's a possibility that this Libra coin will take market shares, look at what happens on Ripple people always compare to these two coins together and soon Facebook will also be compared to Bitcoin.

[imstillthebest]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

Those words are misleading, they just want people to ease up on Libra coin so they can launch without oppositions, there's a possibility that this Libra coin will take market shares, look at what happens on Ripple people always compare to these two coins together and soon Facebook will also be compared to Bitcoin.

nothing wrong with comparing coins  .  almost all the coins on the crypto market are always being compared to bitcoin because some  coins have different feature but until now bitcoin is still the leading coin . the same thing will also happen with this facebooks new coin  . the tension is only on the start but eventually the tension will loosen up between the two and people will crawl back to bitcoin  . and more thing , i disagree with the title   . libra coin is really a threat to bitcoin but its not alarming at all  .

[katerina5643]

hey , everyone. recently i have found an interesting thread regarding this discussion. You can check it following the link.

[playboy654]

David Marcus, the head of Facebook's cryptocurrency Libra twitted,

Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes.

The former president of Paypal stressed that Libra is a better digital cash and payment system, while bitcoin is a long-term investment vehicle.

https://www.ccn.com/crypto/facebook-cryptocurrency-chief-libra-no-threat-to-bitcoin/2019/06/20/

I think the people says Libra is threat to bitcoin are the hired shill from facebook from doing this they can attract the people attention on their coin and then claiming that they are better medium of exchange to convince them to invest on it.

[laskybok]

There isn't any coin already existence or one that has been announced (not yet lunched) that is a threat to bitcoin. What are even the qualities of libra coin, which qualify it to be a threat to btc. Those who have said it is, are only joking and are just hyping it for their personal gain. So no one should believe thousand if you do it means you are on your own.