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

[Mr Zet]

Those coins have a very different goals and target group, it's hard to compare them, so such questions like that one in the subject are even harder to answer. Personally, despite my antipathy for Libra (I have very similar thoughts like statements in this article: https://www.blockchain24.co/libra-not-such-a-promised-land/ ) I think it won't change much on the market - it will be strongly bounded with Facebook, so I don't think it will influence Bitcoin at all

[diahsw]

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?

Digital currency is currently owned by Bitcoin which has quite prestige. Well, recently Facebook issued a new cryptocurrency currency named Libra Coin.
Even though some are judged in the presence of the libra, making bitcooin is threatened is certainly a wrong opinion.
When announcing Libra, Facebook said that the currency would be "stable" with the value given to money and assets in the real world, making it more stable, like a rich currency. This announcement made the crypto currency market revived and made people interested in bitcoin and other digital currencies again. The central bank also supports entering the market before the company takes over and dominates it.

[bitcoin-shark]

i don't think that libra will affect bitcoin for nothing, but as a worst hypothesis if libra will succeed it will replace 90% of altcoins as usage...

[ðºÞæ]

i don't think that libra will affect bitcoin for nothing, but as a worst hypothesis if libra will succeed it will replace 90% of altcoins as usage...

How so, crypt to this day was mainly speculation (changing now with BSV), with libra being a stablecoin there is no speculation. More or less PayPal 2.
If not every transaction is publicly viewable its not crypto, its just digital money.
What exactly is a successful libra?


One private company (Bank) can see every move company xyz does. xyz company can not see the hands of the other private company.

[hyunee]

The worst case would be people are falling to the trap of a currency that was "good" because of a big name behind it. And then after they know that the coin is stable, they will now judge cryptocurrency as scam. They will say, an investment that you can't profit? What is that joke. They don't know they are the joke.

[barabarian1]

every coin have own ability and supporter. bitcoin is better when you compare with libra (if it stable coin). bitcoin still make big profit than libra. but if libra success i think it will make new case, many people know and use facebook and libra will be famous in a short time. people that dont know about bitcoin will learn about libra first (even though they will know about bitcoin later).

[Upgate]

I really don't like or support Libra. Cos if you invest in Libra, your whole transaction will be monitored by third party which is bad in crypto and some account will be banned and lost when the see a foul play. I don't see Libra going far and successful as bitcoin. No need to worry about it at all

[Fundamentals Of]

The worst case scenario if Libra would become successful is that Bitcoin is going to hit just $40,000 in 2020 and it will take another 10 to 12 months for its value to double. That is the worst case, mate.

Do I need to interpret it for you? 

It means Libra, successful or not, is going to add positive points to Bitcoin's reputation. Libra, successful or not, is enough proof that the way Bitcoin paved for the future was simply right.

[paolo099]

The worst case scenario if Libra would become successful is that Bitcoin is going to hit just $40,000 in 2020 and it will take another 10 to 12 months for its value to double. That is the worst case, mate.

Do I need to interpret it for you? 

It means Libra, successful or not, is going to add positive points to Bitcoin's reputation. Libra, successful or not, is enough proof that the way Bitcoin paved for the future was simply right.

I completely agree with you, both are different coins with a different purpose.
Many people will fall for this coin just because there are big names behind it, and will fall without even thinking what does it means.
Libra, like he said, is another mark on BTC to confirm this idea was succesful and innovative.

[Crypto_ke3per]

I think Libra will not be able to destroy Bitcoin with all its desire. Perhaps it will become popular and will be among other popular cryptocurrencies, but I do not think that Libra will be able to deliver many problems to Bitcoin.

[Ibizugbe1]

Bitcoin is bitcoin and Libra coin will operate as a Libra coin if the US senators allow it to see the light of the day. Libra will operate as a stable coin which of course poses no threat to the bitcoin.

[clair508]

Worst case scenario is government ban for will rise.Now they given the alternative.It easy them to start war with bitcoin in the name of drug deals,frauds,scams ect. You name it.War will come if Libra successful. People will get the attraction to Libra if it provides what they desire.They don't want to know what will happen if anything goes wrong.Their accounts will seized.End of story.

[Vaskiy]

With Facebook's libra into usage nothing to think of any worse case scenario. I believe libra will be successful in its way, same as that we have more centralized wallets holding funds, it'll also serve as the same.

As there is a higher number of users surely the usage will be high. This isn't gonna make any impact over the growth of bitcoin or over its market.

[longtkhd]

I think Libra will succeed, though I don't think it is a big threat to the value of electronic money especially for money that has a strong foothold in the current market.

[shield132]

We all know what's advantage of bitcoin, decentralization and anonimity, that's why bitcoin is more popular than any other currency, compare price of bitcoin to any coin, it's far higher. A person who prepares anonimity and uses bitcoin won't turn into Libra, a project of company which has a lot of issues around privacy, they don't give a shit it, just using all of our information for better marketing, that's a shame

[Anonylz]

I really don't see the why the lunching of libra coin threatened the existence of btc, they have two separate parts, libra is hardly a fully decentralized coin, besides btc is still the most recognized and most acceptable crypto in the space, so i don't see any threat here.

[dimox]

facebook have big fans than bitcoin, and i think bitcoin will take side effect when libra be famous.
with facebook, the people that follow bitcoin and dont know about cryptocurrent will know as soon as possible, and maybe they will use libra because many people have thing to do on facebook like sell something, advertise (it will be effective of libra can be use on something like that)

[dat.ho12492]

I really don't see the why the lunching of libra coin threatened the existence of btc, they have two separate parts, libra is hardly a fully decentralized coin, besides btc is still the most recognized and most acceptable crypto in the space, so i don't see any threat here.

You say very rightly, except for the support from the government and a strong corporation behind, libra does not seem to have too many factors to become superior and threaten the existence of bitcoin. Almost everyone knows about crypto and bitcoin recognizes that problem. even if libra succeeds, it still lives only in the light of bitcoin, it will even support bitcoin to become more popular, Bitcoin has been a giant symbol in this area, everything in the back can only accept this fate and lose when faced with bitcoin

[Pyr3x]

I have no idea how libra can hurt bitcoin. There is simply no such scenario. Maybe I'm thinking too positive. But I really don't see a problem for bitcoin. I think libra on the contrary will be able to popularize cryptocurrency and bitcoin

[TastyChillySauce00]

I really don't see the why the lunching of libra coin threatened the existence of btc, they have two separate parts, libra is hardly a fully decentralized coin, besides btc is still the most recognized and most acceptable crypto in the space, so i don't see any threat here.

You say very rightly, except for the support from the government and a strong corporation behind, libra does not seem to have too many factors to become superior and threaten the existence of bitcoin. Almost everyone knows about crypto and bitcoin recognizes that problem. even if libra succeeds, it still lives only in the light of bitcoin, it will even support bitcoin to become more popular, Bitcoin has been a giant symbol in this area, everything in the back can only accept this fate and lose when faced with bitcoin

Other than that reason, Libra is stablecoin, it such a no brainer that there will be no competition between bitcoin and stablecoin such as Libra.
Although bitcoin could be in danger if there is any government that releases the regulation to limit bitcoin or any other crypto that is decentralized.