Facebook coin is not a threat for Bitcoin

[Bobby park]

I think there's no reason why we should worry about the developing coin by Facebook because it is not a big threat to Bitcoin. I other words it can't be affecting the whole history of Bitcoin price so however if Facebook should have a great development about their coin it would probably help Bitcoin not to threaten.

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[Sithara007]

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.

When you make this sort of post, please back it up with some source. You just can't use this sub-forum to paste your random thoughts.

From what we have heard, the Libracoin (FB Coin) will be backed up by real assets and its exchange prices will be determined by the market dynamics. Now that goes against your claim that it's exchange rate will be pegged against one of the major national currencies. You can check this source:

https://www.ft.com/content/af6b1d48-90cc-11e9-aea1-2b1d33ac3271

Libra will be backed by a pool of currencies and assets stored around the world. It will not have a fixed exchange rate against any one traditional currency, such as dollars and euros, though it will not swing as wildly as cryptocurrencies such as bitcoin. 

[ttcsalam]

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.

Bit coins are currently successful in the market. And Facebook is successful on their social side. So I do not think there is any comparison with the other. So one platform can never get overnight in other platform. If the Facebook comes in the market and they will take a lot of time. To go to a place like Bitcoin.

[samcrypto]

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

Indeed, a stable coin can't compete to a coin that can move up high easily and beside from being a stable coin Facebook coin is centralized and right now they are facing a big pressure from the US Government so investors will have doubt now if its continues to become a problem. Adoption with cryptocurrency is good, more companies will go and compete with each other but they can't create a threat to bitcoin because its a strong coin and many investors will backed up bitcoin.

[seoincorporation]

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.

Not a threat but it will be direct competition and not only for btc, because some people will sell their coins to jump on the libra, maybe they will not sell all, but at least will be a market with a nice revenue.

To be clear, it will not stop bitcoin, it only will run on its own side.

[Distinctin]

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.

Not a threat but it will be direct competition and not only for btc, because some people will sell their coins to jump on the libra, maybe they will not sell all, but at least will be a market with a nice revenue.

To be clear, it will not stop bitcoin, it only will run on its own side.

Libra is a stable coin, right?

What are the reasons why people choose this coin over bitcoin when they've seen how profitable bitcoin is.

[Sithara007]

Libra is a stable coin, right?

What are the reasons why people choose this coin over bitcoin when they've seen how profitable bitcoin is.

Check my previous post. Libracoin is not a stable coin. They are claiming that it will be backed up by real assets (such as cash and bullion) and the exchange rate will be determined based on the supply-demand equilibrium. Considering the fact that many of the tech giants are supporting this coin, I assume that it will be able to attract many hundreds of millions of users. At the same time, they are saying that this coin will be available only in those jurisdictions where cryptocurrencies are legal.

[emberbekas]

At first place, who said that it is a thread for Bitcoin .

I think that Libra coin is just another altcoin that will help to spread the knowledge regarding cryptocurrency. Since this is Facebook coin and many are using Facebook around the world, many will become curious about it and will do some research on it then they will decide if they will invest or not.

Libra will help to spread cryptocurrency awareness throughout the world. At least that is the good thing so far from libra to the crypto world. Meanwhile, we don't need to worry about Libra being a threat to the existence of bitcoin. There are already lots of alts out there and bitcoin is still unshakeable!

[Vishnu.Reang]

Will Libracoin be banned in countries such as India? I think that the creation of Libra can be a blessing in disguise. It will remove the taboo faced by the cryptocurrencies, since it has the approval from most of the major tech giants. Although it can emerge as a competitor for Bitcoin, my guess is that most of the users may be first time crypto users and there is a good chance that some of them may shift to Bitcoin later.

[BlackFor3st]

Yeah you have a point, most of the investors will not invest in Facebook coin knowing that they cannot gain much in it's prices as it is more stable compare to other crypto currencies out there.

Most of the investors are looking for a good profit in a short period of time and crypto currencies who are not that stable are good for them because if you can predict the correct price to buy and sell then you can surely boost your profit.

[hermawan9416]

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.

Is it? I don't think Libra will be a stable coin. Where did this information come from? Source?

[MadeinCoin]

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.

I think this Facebook coin is still worth mentioning as a coin because the coin adopts blockchain which has cryptographic basics. It might be called a coin ripple, yes this coin is centered like a ripple.

[sandra_1]

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

Indeed, a stable coin can't compete to a coin that can move up high easily and beside from being a stable coin Facebook coin is centralized and right now they are facing a big pressure from the US Government so investors will have doubt now if its continues to become a problem. Adoption with cryptocurrency is good, more companies will go and compete with each other but they can't create a threat to bitcoin because its a strong coin and many investors will backed up bitcoin.

Right, I think that Libra is not any danger to Bitcoin. This is something completely different, but I think that (maybe) thanks to Libra, some of the toppest brands like Visa, PayPal or Mastercard etc. will support the platforms where you can buy Bitcoin like for example buycoinnow. That would be great if Libra were the beginning of a "buying revolution" in the cryptocurrency world

[nutella_11]

Right, I think that Libra is not any danger to Bitcoin. This is something completely different, but I think that (maybe) thanks to Libra, some of the toppest brands like Visa, PayPal or Mastercard etc. will support the platforms where you can buy Bitcoin like for example buycoinnow. That would be great if Libra were the beginning of a "buying revolution" in the cryptocurrency world

I would love to buy Bitcoin using PayPal, that would be a great solution and I think that many people would be grateful for that. We could finally buy cryptocurrencies quickly

[EdenHazard]

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.

This is what many people need to know, read carefully  a whitepaper if he finds a new project. I've been looking a lot of thread that stated the user of bitcoin will be easy to move their investment in bitcoin to libra coin whilst when I read the whitepaper of libra there isn't made me interested that it is a good place to be choose for an investment place. Nevertheless, I must give a flattery sentence to libra coin because when the rumor this coin came has been changing the sentiment market of bitcoin. I believe the increased price of bitcoin from $5000 or below was helped by this coin information which make a lot of investor or newcomers believe that bitcoin is real and really safe to be say as an asset.

[Koobtcgal]

I can say that the recent upward trend in BTC  is because of the announcement about facebook's Libra coin whitepaper. Facebook coin is indeed not any threat to our original crypto, BITCOIN so I am much happy to see things go the way they are going and I hope to see more when it is fully launched

[Hyyt]

When it is planned to launch another cryptocurrency on the market, a large brand like a facebook arises more doubts than joys. Even using a blockchain, can they guarantee the confidentiality and security of user data? What about past scandals, where did the whole world find out about the flaws in their privacy system?

[Gerou56]

When it is planned to launch another cryptocurrency on the market, a large brand like a facebook arises more doubts than joys. Even using a blockchain, can they guarantee the confidentiality and security of user data? What about past scandals, where did the whole world find out about the flaws in their privacy system?

[UYth]

They ultimately have a grandiose goal to compare with Bitcoin in popularity and make a very flexible product that will allow a large number of users to send cryptocurrency without any problems and use it for purchases. However, on the whole, the society is not prepared to start using cryptocurrencies en masse, since speculations are too strong

[TREvhgy]

The society is not ready, because there are not enough popular sources where people could learn how to use cryptocurrency. I am glad that I found the project taklimakan, he helped to deal with many terms and understand how to trade on the crypto exchange. But we still continue to see cryptocurrency price manipulations. So it will be interesting that Facebook will be able to offer users and investors.