Libra vs. Bitcoin - What's the Dif?

[cryptoblazter]

Bitcoin is decentralized while Libra is centralized. The centralization of Libra makes it more designed to specific purposes because its designers are really setting its funtionality and uses in the cryptocurrency industry. Though, Libra hasn't proven anything yet, but the expectations are high.

[exchangestolemycoins]

Libra to hook into all your payments, bills, etc. And if they offer loans? Make payments or get locked out of your identity (!!!), can't pay your debts? Ok, here's your new repayment plan...

Sounds like banks on steroids.

[Ana_crypto]

The cheapest, fastest, and most secure way to send money yet invented.

There are already altcoins that's way more cheaper, faster and more secure than Bitcoin, it's just that Bitcoin is the father and pioneer of cryptocurrency.

My thoughts exactly. Like, Bitcoin started it all, but there are altcoins that have learnt from the bitcoin technology and have made more developed ones of their own, making them faster and cheaper and lot more things too.

[taratorly]

Libra to hook into all your payments, bills, etc. And if they offer loans? Make payments or get locked out of your identity (!!!), can't pay your debts? Ok, here's your new repayment plan...

Sounds like banks on steroids.

And in doing so, it will work for a platform that can access all of your personal data. Facebook uses your data more than you know. In this case, you can easily understand that it has nothing to do with the crypto entity.

Libra will not do more than the banks do. It's just gonna be a little easier. What do you need Libra? We already have top model Bitcoin&Tether already!

[CryptoGM]

Bitcoin and Satoshi "they" did not envisage having regulatory framework for the currency. I tend to think they left this out on purpose, because even the whitepaper is silent on legal and regulatory concerns. The more reason Satoshi maintained an anonymity which I think was by design to avoid what Libra is facing right now. Developed nations such as the US and European countries are already calling for regulation or halting of Libra altogether. Bitcoin will never experience such setback especially if users were to go mainstream adoption on a peer to peer system.
Libra is not bad only that it seeks to compete with central banks who are worried if masses pick up and sign up on this new digital currency they will loose much held power. It is ceding power from central banks to multinationals with Libra while Bitcoin power goes to the people.
Let's see how this goes in coming days and months!

[vlad230]

It looks like Libra is everything a crypto currency shouldn't be... that's sad.

Most likely it will succeed since it's backed up by a lot of important companies but I still feel like it shouldn't.

[erikoy]

This is my first time knowledge to know about Libra coin. It seems that libra coin is one of the most promising coin knowing that it is a project integrated to social media apps like facebook and others. But, the hype of bitcoin was not being caused by libra because it is the bitcoin block chain that will determine the market and not by the other coins.

[Boh manok]

Thanks to those who made the topic so with this I know what is the difference between Bitcoin and Libra, but even though many say the Libra coins will be very good later but until now I still survive in Bitcoin and if in the future Libra has seen as a good coin then I will  take both for investment and trade

[halpi]

the main difference is that Bitcoin is cryptocurrency and Libra is no
Libra is Zuckerberg shot to jump into crypto.
Lol, how could compare these two

[adzino]

Thanks to those who made the topic so with this I know what is the difference between Bitcoin and Libra, but even though many say the Libra coins will be very good later but until now I still survive in Bitcoin and if in the future Libra has seen as a good coin then I will  take both for investment and trade

I don't see how it will be "good" later. It is a centralized coin. Its just like paypal, but it will use blockchain technology. Hell, some won't even consider it as a crypto currency. Everyone won't be able to mine it (only selected group)! This is more like a digital currency.
Trust me, you will be making better profit by investing on bitcoin only.

[Kevlar]

In my opinion it is strange to compare the new, not yet implemented LIBRA project with Bitcoin, on which the entire market rests. A similar situation was when Durov advertised his TON project, then around his GRAM tokens there was also a lot of controversy, but few could buy them. Almost 2 years have passed, and his project has not moved from its place ... And Bitcoin is still alive and is an indicator of the entire market!

[akram143]

I thought it might be valuable to point out some of the key differences between FaceBook’s new Libra coin and Bitcoin. They are certainly not the same. The greatest features of bitcoin center around it’s decentralized network.

Bitcoin is:

• A currency that disconnects your identity from your money.
  
  Owned only by the user who posses it. 
  
  A currency that has a production, circulation, and distribution which is beyond the control of any government, business, or ANY entity at all.
  
  A currency that can be used in any country for any transaction and is beyond anyone’s ability to compel or deny a transaction.
  
  The cheapest, fastest, and most secure way to send money yet invented.
  

Libra is:

• A currency that ties not only your basic identity to your money, but includes all the details found on your FB, instagram, What’sApp, and other social media. A near perfect coin for stealing your identity.
  
  Owned by a banking cabal including PayPal, MasterCard, FaceBook, Andreessen Horowitz, etc. Users may use their coins if they follow all rules required by the owner companies. Users must also accept that these rules may change at any time for any reason the owner companies decide.
  
  A currency who’s distribution, supply, and all other parameters are under the complete control of the owners. They can change the valuation or double the circulation.  (Owners, not Users – FaceBook and it’s partners are the owners of the money)
  
  A currency that can be used at FaceBook’s partner stores. It allows FB partners to pry into your spending habits in an unprecedented way. You may only use their money if they receive a cut of the money and all transactions are allowed only if FB decides it is okay for you to do. 
  
  A patch over an archaic banking system that is insecure, ridiculously slow, and very
  expensive.
  

Its really simple but will clear every doubt about the libra and bitcoin to the people.

Hopefully people will understand why we had bitcoin at first thought and will completely stay away from a centralized libra coin.

[pics4crypto]

How stupid for me to compare these two projects.  because it is simply impossible to compare Bitcoin which is now the leader in the market and has always been a new coin that is simply not popular yet deserves the name it is called.

[thirdprize]

Sorry to disrupt your little echo chamber here, but ...

I thought it might be valuable to point out some of the key differences between FaceBook’s new Libra coin and Bitcoin. They are certainly not the same. The greatest features of bitcoin center around it’s decentralized network.

Libra is:

• A currency that ties not only your basic identity to your money, but includes all the details found on your FB, instagram, What’sApp, and other social media. A near perfect coin for stealing your identity.
  False.  Only if you use the wallet that will be built into Facebook.  If you use another wallet then they won't have any info on you.
  
  Owned by a banking cabal including PayPal, MasterCard, FaceBook, Andreessen Horowitz, etc. Users may use their coins if they follow all rules required by the owner companies. Users must also accept that these rules may change at any time for any reason the owner companies decide.
  Partly.  Backed by a bunch of big companies.  The money they are putting up the money is equivalent to tethers imaginary backing funds.  they will be in charge of swapping from fiat to libra and back.
  
  A currency who’s distribution, supply, and all other parameters are under the complete control of the owners. They can change the valuation or double the circulation.  (Owners, not Users – FaceBook and it’s partners are the owners of the money)
  False.  It is pegged to a basket of stuff (whatever that really means) so will stay at a fairly fixed value.
  
  A currency that can be used at FaceBook’s partner stores. It allows FB partners to pry into your spending habits in an unprecedented way. You may only use their money if they receive a cut of the money and all transactions are allowed only if FB decides it is okay for you to do. 
  What does that even mean?  Wrong on so many levels I won't even bother with it.
  
  A patch over an archaic banking system that is insecure, ridiculously slow, and very expensive.
  True.
  

If you are going to argue then at least get your facts straight.

[CoinsOrDie]

Sorry to disrupt your little echo chamber here, but ...

I thought it might be valuable to point out some of the key differences between FaceBook’s new Libra coin and Bitcoin. They are certainly not the same. The greatest features of bitcoin center around it’s decentralized network.

Libra is:

• A currency that ties not only your basic identity to your money, but includes all the details found on your FB, instagram, What’sApp, and other social media. A near perfect coin for stealing your identity.
  False.  Only if you use the wallet that will be built into Facebook.  If you use another wallet then they won't have any info on you.
  
  Owned by a banking cabal including PayPal, MasterCard, FaceBook, Andreessen Horowitz, etc. Users may use their coins if they follow all rules required by the owner companies. Users must also accept that these rules may change at any time for any reason the owner companies decide.
  Partly.  Backed by a bunch of big companies.  The money they are putting up the money is equivalent to tethers imaginary backing funds.  they will be in charge of swapping from fiat to libra and back.
  
  A currency who’s distribution, supply, and all other parameters are under the complete control of the owners. They can change the valuation or double the circulation.  (Owners, not Users – FaceBook and it’s partners are the owners of the money)
  False.  It is pegged to a basket of stuff (whatever that really means) so will stay at a fairly fixed value.
  
  A currency that can be used at FaceBook’s partner stores. It allows FB partners to pry into your spending habits in an unprecedented way. You may only use their money if they receive a cut of the money and all transactions are allowed only if FB decides it is okay for you to do. 
  What does that even mean?  Wrong on so many levels I won't even bother with it.
  
  A patch over an archaic banking system that is insecure, ridiculously slow, and very expensive.
  True.
  

If you are going to argue then at least get your facts straight.

I think you did more justice to that topic in less words than anyone else could ever do. The initial post is Flaws and looks quite horrific. Those points alone would serve as a veritable tool to demarket cryptocurrency and blockchain. Thank you for setting the facts right

[DarkDays]

You said that it is very true "a patch over an archaic banking system that is insecure, ridiculously slow, and very
expensive" but it doesn´t means sense in cryptocurrencies. Something that is decentralized is so slow, but it takes a time to communicate with many nodes. 

Not all cryptocurrencies need to broadcast the transaction to the entire network to achieve transaction finality. Plenty of blockchains are incorporating sharding to increase their throughput and others are looking to off-chain solutions such as plasma, lightning etc to expand this to practically VISA-like levels.

Do you think that VISA and the online banking system was as fast as it is now, when it first launched?

[bitladen]

The difference between Libra and Bitcoin is that Bitcoin is the first coin in cryptocurrency, and Libra is a regular alts on the market

[lobo13hf]

The difference between Libra and Bitcoin is that Bitcoin is the first coin in cryptocurrency, and Libra is a regular alts on the market

where are you from and what do you learn from libra and bitcoin, i suggest you try to read whole explanation about bitcoin and libra and you can create an opinion about both of coins. It looks like you are not even watching the news about bitcoin and libra because you don't even know the basic purpose of libra.

[adzino]

The difference between Libra and Bitcoin is that Bitcoin is the first coin in cryptocurrency, and Libra is a regular alts on the market

Lol, that's not the only difference. Let me tell you what altcoins are -> "All coins that are not bitcoin is considered as an altcoin". So Libra is actually an altcoin, but with huge differences ( the major difference - one is completely centralized and the other is decentralized). Read what OP wrote about bitcoin and Libra. You will get to know about the main differences from here.

[sukoyomi]

Libra is going to be bullish for bitcoin.
Many people will start to see bitcoin as a legitimate investment not controlled by any single entity.

Of course, just watch and at that time, people will know who is the winner and who is the victim. Since many people has get abundant money from bitcoin, of course it looks legitimate. The good news is I hear bitcoin will start to raise to get the highest price ever in 2020 but this libra is even can't defeat BNB.