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

[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]

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[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.