What's bitcoin worst case scenario if Libra will be successful?

[Baofeng]

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Nothing will happen to bitcoin here, in fact maybe it could bring more money to bitcoin ecosystem for all we know. So I don't think Libra will have a negative impact as far as the market price. Investors would simply go and shift their funds to a private, consortium wherein it is centralizes and all your private data will be in their own crypto. Crypto investors are not that dumb, on the contrary they are getting smarter now that's why they are not bother by the supposedly challenge from Facebook's Libra.

[samcrypto]

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Worst scenario of course if Libra coin takes place the position of Bitcoin but of course its just a speculation and for me it will never happen because bitcoin are roaring higher now and many analyst believes that bitcoin can't beat by any coins. I'm too confident that bitcoin will go to the moon and altcoins will have a hard time to compete with it especially the new coins, for me Libra coin should beat first BNB, XRP, and ETH because that's the biggest walls going to the top.

[blackhawkeye1912]

The worst case scenario if Libra becomes successful is BTC will reach $20,000. This might be the worst case scenario. We already experienced almost the same scenario when Ethereum almost become the number one cryptocurrency. But what happened, bitcoin remains number one. All we have right now is just the hype of Libra. It hasn't proven anything yet.

[Sithara007]

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

In my opinion, Libracoin will be beneficial to Bitcoin and it has the potential to attract more users to the world of cryptocurrency. First of all, I don't regard Libracoin is not a competitor to Bitcoin. A centralized currency can never become a competitor to a decentralized currency. On the other hand I guess Libracoin will become a competitor to digital versions of fiat, such as PayPal and MasterCard.

[rdluffy]

Guys, this coin (libra) will be a stable coin, with different purpose of BTC, I don't see the same kind of people using these 2 coins

I believe in cryptos and the ideas behind it, the community here is awesome, but I'll stay away of this coin of facebook, I don't agree with the way facebook works, simple

[pooya87]

would you say Paypal is successful? i'd say it is. what happens to bitcoin when Paypal is successful? absolutely nothing! why? because it has nothing to do with bitcoin. it is a centralized anti-privacy payment system that is censored and isn't even global despite being on the web.
Facebook coin called Libra is exactly Paypal with a different name.

[Aldrinx00]

I don't think Libra will affect bitcoin in a negative way because it's just another stable coin and it's centralized. People don't like their private information to be leaked and using bitcoin gets your identity anonymous and it's also decentralized, so my conclusion is that bitcoin will still be the most popular crypto in the world.

[tsaroz]

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Libra would take away any financial transactions for buying and selling from bitcoin. Libra may replace bitcoin as the most prominent trading pair. But that too may be beneficial for the price of bitcoin.
Libra in no way is a competitor to bitcoin but it would surely make stable coins like Tether, TUSD, Paxos and others obsolete.

[Jamjamz30]

Remember that there are bitcoin holders that do not believe in centralization. So, the success of Libra might not affect much on bitcoin price. Even though libra is centralized, do you think Libra will gst he attentikn of hoĺder.

[therhslv]

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

I don't think something will change even if Libra will have even higher marketcap than bitcoin Bitcoin is the mother of all coins and Libra i think will be centralized , not quite sure . Anyway im for the Bitcoin till the end and don't believe any coin will replace bitcoin and its proven in previous 10 years already

[vladimirhf]

I don't think this could be bad for bitcoin, it's like saying that gold will kill euros or diamonds. it just does not make sense. The main feature of bitcoin is being decentralized while libra is a corporate coin.

[chichidori]

Worst case would be Libra taking over the number one spot, bitcoin will retain its volatility and people who uses facebook  often will surely benefit from it, billions of user will be introduce into crypto imagine that if bitcoin can also access that network.   

[EdenHazard]

What is the purpose of the destruction? who said that? Libra coin won't give a bad affect to bitcoin at all. Maybe that was said by some people who don't know bitcoin and some people who admire a centralized system. Bitcoin is the first cryptocurrency and had a lot of users on it, it's impossible for the old user will move and support libra coin. Also, the libra coin just can be use as payment or send money system beside of that is nothing to be use. Different with bitcoin, the people can use bitcoin as payment system, send money system and as the promising place for investment. However, when libra came the user of bitcoin will be added because cryptocurrency is not a place which be feared again by most people.

[imstillthebest]

its not worst anymore if libra coin became succesful because bitcoin itself can also benefit on it  . last day after the announcement of libra coin , the bitcoin price suddenly sky rockets  but how much more when libra coin is already released on the market ? the price of bitcoin can pump again  but how much more if libra coin became succesful ? the value of bitcoin can even pump more  .

 i think the worst case scenario that can happen to bitcoin is that people will dispose thier bitcoin when they see that bitcoins value is increasing because of libra coin  .

[leea-1334]

The worst case would be people giving up their last shred of privacy and financial sovereignty in favour of whatever Libra's value proposition is.

If Libra really takes over what happens to Bitcoin is the least of my concern TBH.

I have my doubts that Libra will get far though as I don't see its appeal. Then again I don't see Instagram's appeal either so I might just be out of touch.

Yeah, I think most of us who are serious Bitcoin users do not give much thought to all the so called Bitcoin killer or Eth killer,,, I see that some places even call Libra the Ripple killer,,, which is such a nonsense proposition,,, so many coins tried to be killers and none of them even got a bit close to that goal. Same thing will happen to Libra.

[muslol67]

I can't believe I see these headlines anymore. Don't you ever read?

You have no idea what Libra is, do you? I wish you'd done some research before asking questions like that here!

https://libra.org/en-US/ (Look at that once, I'm sure you'll understand how your question is unnecessary.

[KlepZ]

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Nothing will happen to bitcoin here, in fact maybe it could bring more money to bitcoin ecosystem for all we know. So I don't think Libra will have a negative impact as far as the market price. Investors would simply go and shift their funds to a private, consortium wherein it is centralizes and all your private data will be in their own crypto. Crypto investors are not that dumb, on the contrary they are getting smarter now that's why they are not bother by the supposedly challenge from Facebook's Libra.

Facebook’s Libra is NOT a cryptocurrency. I know big call. But let’s just think about this for a second. First, though, why would you trust it? Facebook will use it go track what you buy and target you with more of the same. They will not only use your data, but sell it. Or they’ll get hacked and your data stolen. I mean, their track record, that we KNOW about? Come on. And you won’t make money off investing in Libra, it’s not going to fluctuate like the cryptocurrencies we know. It’ll be considered a stable coin, 1 for 1. I’m going to go a step further and call it FIAT.

[slaman29]

Nothing will happen to bitcoin here, in fact maybe it could bring more money to bitcoin ecosystem for all we know. So I don't think Libra will have a negative impact as far as the market price. Investors would simply go and shift their funds to a private, consortium wherein it is centralizes and all your private data will be in their own crypto. Crypto investors are not that dumb, on the contrary they are getting smarter now that's why they are not bother by the supposedly challenge from Facebook's Libra.

The problem for me in looking at this argument is that we only need to look back a year and a half ago at what happened to the crypto market when the ecosystem had more money flowing in. Sure, people were buying Bitcoin but only to invest in hundreds of ICOs (and the same also happened to ETH once ERC20 ICOs started becoming popular) and that didn't end up too well afterwards, did it?

[xSkylarx]

Bitcoin will stay as it is. Libra is a stablecoin compared to bitcoin where it is a cryptocurrency. If libra will become successful then I think it's good for bitcoin because more people will know about it. And libra won't reached what bitcoin already have.

[hatshepsut93]

Worst case is that noobs who want to get into cryptocurrency will get into Libra instead of Bitcoin, but it will be rare, because Libra is a stablecoin, so there's little reason to buy it for speculation, and let's be honest, people get into cryptocurrencies for speculation first. As for competition between Libra and Bitcoin for being used as currency, most of Libra's users will be Facebook users who are far from crypto in the first place, and those people are unlikely to try Bitcoin under any circumstances, so really Libra is not threatening Bitcoin in any major way.