Facebook coin is not a threat for Bitcoin

[Slark]

It is strange that someone thought that this coin could harm the reputation of bitcoin. Bitcoin continues to be the king of the crypto market.

[Mianae]

No altcoin can be threat to Bitcoin. Let's see Btc as the foundation other cryptocurrency stands. Foundation of a house carries every other segment of the house. Fb coin is to be used on facebook platform Btc is a mode of payment across different networks.

[slashz9]

I don't think anyone says Facebook coins are a threat to BTC, because it will be a stable coin so that it will not affect Bitcoin as a means of investment.
but in paying metode i think facebook will take demand on this.

[tenebriscaelum]

As Libra is targeting to be a mobile bank for millions of people, I highly doubt that it will not be a stable coin. As people will not accept a currency that fluctuates more than 10% its price. Being a stable coin will make sure that their altcoin will be used be consumers, which will not affect the price of BTC.

[samputin]

[snip]

But I think it won't be that influential. Though we can't say that Facebook coin is a threat for Bitcoin but it possibly be considered as a competitive coin in the future. We know how Facebook itself known to everybody and some instances that people will choose this base on popularity. ut taking into the account of being a threat with BTC, I've never seen it.

I do agree with you mate, I only see Libra as a threat for Bitcoin in terms of popularity as well, that's all. However, they are still on different worlds (since Libra was still considered centralized) so making comparisons between them are not totally necessary at all. I admit that Libra could have a very bright future, C'mon! Just imagine the social influence of FB but on the other hand I don't think that it will greatly affect btc's price and reputation because it still got an edge especially about anonymity feature and fluctuating value of course.

For now, I haven't foresee a deserving competitor to beat bitcoin down. I still doubt to Libra for doing that because even the closest long time rival coin of btc which is eth was still no match until now.

[freedomgo]

As Libra is targeting to be a mobile bank for millions of people, I highly doubt that it will not be a stable coin. As people will not accept a currency that fluctuates more than 10% its price. Being a stable coin will make sure that their altcoin will be used be consumers, which will not affect the price of BTC.

Because this is really a stable coin, the price is stable regardless of the movement of bitcoin.
The possible adoption of Libra is huge, and this possible users of Libra could also be introduce to become a bitcoin users and investors, that's the potential I see once the project is launch.

[CryptoGosu]

I also think that Libra is not a competitor for Bitcoin. These two cryptocurrencies will be very different from each other. Libra has a high dependence on fiat.

[mammoniter]

Hello everyone so now i want to share a very good information with that the facebook community says the the price of facebook will be stable like a USD so its mean that there is no threat for bitcoin because all investors want that they gain more profit in short time that  is why they invest their money in bitcoin because the btc price is fluctuated and for good investment need the unstable price.

Its actually a long shot that facebook coin will be a threat to bitcoin. In fact no one thinks about it actually. If it will be a stable coin then it will not be profitable just like other crypto but its safer because you can minimize your loss. Its always a good thing when popular companies like facebook are trying their way into crypto. Its a good development. Hope other companies will do the same thing.