Facebook coin is not a threat for Bitcoin

[Lizzylove1]

Even if the Libra was a volatile coin like the bitcoin and other coins, it still would have been no threat to the bitcoin, bitcoin has more trust by the people and has more secured network and operates on a very sophisticated technology.  Anyone who has tasted bitcoin has no choice than to keep looking at it for more gain. Bitcoin leads and continues to lead while others are altcoins and will continue to be altcoins.

[oseikuf44]

If about 50% of facebook users decides to try facebook coins because of the companies reputation, won't the demand of the price make the price surge and hence call investors to convert their bitcoins for facebook libra? It is a great treat to Bitcoins and Ether.

[Pom_bensin]

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.

actually there is no threat of any coins to bitcoin. even though the release of the Facebook coin today will have no effect. but it's just that bitcoin fluctuations are affected because to invest in Facebook coins still use bitcoin, but that is not a problem.

[Moiyah]

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.

Let's not assume the price of fb coin. In the first place, facebook isn't confirming if the name will be really fb coin. And the price is still unknown whether it is a stable coin or not. However, I don't think it will be a threat to btc. Fb coin is still some altcoin, too. Let us just wait for  some sure news about it

[AngelJoshua]

I don't believe it too because it might one of the way of some people to attract more investors specially those newbies who wanted to have some quick and sure return because the owner of the coin is one of the biggest company in the world.

[iMark]

we should call it a centralized online payment processor.

Yes, we should do it. Facebook is not a crypto coin, they will use the Blockchain Network, that's it! Facebook's Libra coin will be used as a payment procedure in Facebook's native apps! Though we don't have any official source for it, but I assume this will be the truth about the Libra coin!

Facebook hopes that Libra can unite all crypto users lol. even though they have big names, it doesn't guarantee they can beat bitcoin,
crypto users who like decentralization are certainly smarter, they won't be easily attracted to it.

[Twinkledoe]

who said it is?
the only reason why there is a lot of talk about it is because of the news sites that were desperately waiting for something to write about and that has been bringing a lot of newbies attention to this coin, which in my opinion should not even be called a coin. we should call it a centralized online payment processor.

by the way it has nothing to do with price and bitcoin is not an investment, if it were then its price would have tanked hard a long time ago just like how altcoins get dumped and never recover again since altcoins are purely for investment and have no other usages.

Every website wants to join the bandwagon. Just to say something even if they don't know what they are talking about. For sure, most of them don't know how to transact any altcoin out there. We should not take seriously all the fuss they are making out of it. And on my end, FB coin will never be a threat to bitcoin because they are totally different in nature.

[Aldrinx00]

I don't see any threat of Libra to bitcoin because Libra is in a different league which will be more like a payment instrument and a stable coin pegged with USD, EUR etc. I think the threat of Libra is on banks and not on bitcoin.

[Wind_FURY]

No launch, no threat.

I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.

This. As I have said in the previous thread, Facebook has somewhat open the pandoras box, now every regulatory board not just in US but in UE as well are going to target Libra and they're going with all their might to push this project. They won't allow Mark to take over again with this so called coin that is closed and centralised.

But it was Bitcoin that opened the pandora's box, and impossible to be closed again. Facebook is stoppable because it needs permission to launch. Bitcoin didn't/doesn't/will never ask for permission.

No launch, no threat.

[Distinctin]

No launch, no threat.

I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.

This. As I have said in the previous thread, Facebook has somewhat open the pandoras box, now every regulatory board not just in US but in UE as well are going to target Libra and they're going with all their might to push this project. They won't allow Mark to take over again with this so called coin that is closed and centralised.

But it was Bitcoin that opened the pandora's box, and impossible to be closed again. Facebook is stoppable because it needs permission to launch. Bitcoin didn't/doesn't/will never ask for permission.

No launch, no threat.

This is just the beginning of facebook entrance in the market, if they'll be appreciated by the people in crypto, they'll surely expand.
I believe soon they will also become a competitor of Binance in the crypto exchange side, there's a big possibility as everyone wants to dominate the market.

[TastyChillySauce00]

No launch, no threat.

I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.

This. As I have said in the previous thread, Facebook has somewhat open the pandoras box, now every regulatory board not just in US but in UE as well are going to target Libra and they're going with all their might to push this project. They won't allow Mark to take over again with this so called coin that is closed and centralised.

But it was Bitcoin that opened the pandora's box, and impossible to be closed again. Facebook is stoppable because it needs permission to launch. Bitcoin didn't/doesn't/will never ask for permission.

No launch, no threat.

This is just the beginning of facebook entrance in the market, if they'll be appreciated by the people in crypto, they'll surely expand.
I believe soon they will also become a competitor of Binance in the crypto exchange side, there's a big possibility as everyone wants to dominate the market.

Is there any news about facebook opening a crypto exchange though? I never heard of that to be honest, Also I'll point out that Libra could expand if there's capital, since it's backed up by fiat therefore you need to money for each coin issued, However facebook compete with Binance doesn't seem right though.

[Reatim]

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.

Any information with links that reliable source gives you those ideas?if not then stop fooling people because Mark Zuckerberg will not allow the Facebook coin to become stable for sure

And about being threat for bitcoin?who says it will?lol bitcoin is already stablished and well trusted cryptocurrency,things that will never break by others even that famous social media site coins lol

[tleilaxu_eyes]

If about 50% of facebook users decides to try facebook coins because of the companies reputation, won't the demand of the price make the price surge and hence call investors to convert their bitcoins for facebook libra? It is a great treat to Bitcoins and Ether.

If 10% of facebook users use their coins it would be relatively big. People already use venmo and zelle. It doesn't have to be a good cryptocurrency; it just has to be easy to use.
 
It won't compete with btc, it will just stifle its growth.

[Indrawan77]

I think Facebook coin or any other coin is not a threat for bitcoin, its called rivalry if the coin could proved that it got a better feature and the investors like it, then we will have one more good coin to used, and stable coin is not a good coin to invest and in crypto we don't like centralised investment, if we want centralised, we will just invest in fiat

[irfan_pak10]

Probably. But if it's become regulated by different countries especially America and China, I believe it's going to rule out Bitcoin.

I don't think this is going to happen. Maybe Facebook has such ambitious but it's not very likely .
Although it's promoted like safe and and secure coin backed up with some real money and real money transactions I don't think this is enough for success and enough to attract users. So far Bitcoin isn't in any danger and I don't think this is going to change.

The purpose/ use case of this coin is really different from bitcoin. Libra coin is going to be centralized, maybe this thing affects its popularity.

[ginobitcoiner]

Since I learned about Facebook's plan to launch cryptocurrencies I never thought that it would be a challenger to Bitcoin.
no matter how good Libra is it won't make bitcoin number 2 on cryptocurrencies.

[muratsink]

in my opinion, BTC investment to take a profits.  and Libra investment to save assets.  but everything is my choice, including gold is also my investment choice, but now I prioritize BTC and ETH.  and Libra is part of my plan.  I agree, that Libra is not a threat for BTC.

[boyptc]

Since I learned about Facebook's plan to launch cryptocurrencies I never thought that it would be a challenger to Bitcoin.
no matter how good Libra is it won't make bitcoin number 2 on cryptocurrencies.

It won't be just enough to make bitcoin the 2nd crypto in the bitcoin, bitcoin will always be the top crypto of all.

You just can't compare centralize and decentralized cryptocurrency.

[Payme21]

Facebook coin (Libra) was never going to compete with bitcoin  because it's a stable coin. It will take much more than just this to unsit bitcoin

[rodel caling]

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.

Facebook coin is not a treat for bitcoin, my reason i can analyzt facebook as popular social medias company use worldwide it bring it to the whole crypto to introduce and encourage to all people to invest in bitcoin or crypto by the help of this new facebook coins.