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

[ðºÞæ]

No private corporation other than Federal Reserve has ever succeeded creating/issuing the own money. 

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[davis196]

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?

Well,libra will have it's own territory(facebook,messenger,instagram,whatsapp) where people will use it to buy(and probably sell) stuff.Bitcoin on the other hand is a truly global currency and it's not tied to any social media website or massaging app.You tell me what's going to happen. ;)I think nothing important will happen.

[Argoo]

Libra is one of the future stable coins, although perhaps one of the largest projects. This fully centralized coin and bitcoin have completely different tasks and functions, so they should not directly influence each other. I see the danger for Bitcoin only in the fact that people may prefer Libra as a means of payment.
However, now a big problem with the release of Libra. If the US Congress adopts a recently submitted bill, the release of this coin will be impossible from Facebook.

[Chlotide]

No private corporation other than Federal Reserve has ever succeeded creating/issuing the own money. 

Theoretically those guys issue money for a separate entity (or at least that was the plan).
Bitcoin will not be bothered by Libra. Paypal should be afraid tho. Centralised stable coin. Will not be surprised if I hear news like Tether's oupsy!

[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?

BITCOIN has not been able to undermine the currency. even had weakened, but the last few days are on fire again. Because facebook made a surprise launching a new 'currency' in the world. It's called Libra. In my opinion the presence of Libra will help increase the price of bitcoin as usual.
if libra will be successful in the future it will have a positive impact on bitcoin.

[cheezcarls]

I honestly think that the worst case scenario for Bitcoin if Libra’s successful is that it will go all the way up!

Libra is a stablecoin. However, there are people who still don’t understand Bitcoin and cryptocurrencies who might invest into Libra. Bitcoin is still the king, as it appreciates and depreciates value any time, while Libra isn’t.

Even Trump’s tweets about Bitcoin isn’t really affecting much despite its downtrend. It’s just that the whales are manipulating the market by playing the minds of the newbies and inexperienced ones to dump their Bitcoins. With that strategy of course, whales are accumulating more during the dip.

When Libra is fully launch, it’s a bullish thing for Bitcoin and cryptocurrencies due to its massive adoption. No government or SEC can stop Bitcoin from operating, as they don’t control the blockchain.

[maydna]

For now, I don't think about the worst scenario if libra will be successful, and I prefer to wait for what will happen later. It's too difficult to say something will happen while we don't know the case. We could only predict more and more, and that only makes people in out there panic or feeling bad. I think the good thing that we can do now is let the market decide what will happen with libra and bitcoin although I don't think that libra can get successful like the other stable coin or the other altcoin.

[seraph_the_wise]

In my view, worst case scenario (no Libra launched due to regulatory pressure) is Bitcoin getting more popular, leading to additional price appreciation on the medium-term (1-2 years).   
If it even launches, its use case would be vastly different from BTC (Libra is a stablecoin backed by an ETF-like mix after all). No competition at all to BTC.
An interesting question in how convertible and liquid a BTC/LIBRA would be at exchanges. 

[Spaffin]

I think that today all the talk about the Facebook project looks like speculation, because all the forecasts are contradictory.  They used to talk about Bitcoin and dollar competition, and now they are talking about Bitcoin and Libra, as well as Libra and the dollar.  And since Libra can combine several trading platforms and payment systems, the project itself will probably look different.  Therefore, we will be able to say something specifically after the project is launched.

[Darker45]

The worst case is that Bitcoin will stay at its path as if Libra is not successful or not launched at all. That is the worst case scenario if Libra gets the success that it pursues. This is because I strongly believe that Libra is going to be a big help for the cryptocurrency name especially Bitcoin to spread to the farthest corners of the world, given the very high influence of the mother company of Libra and its partners. Libra represents the success of crypto which Bitcoin started.

[ðºÞæ]

Lets look at "success" 
To Buy = spent fiat to receive fiat equivalent (Libra)
To Sell = sell fiat equivalent (Libra) to receive fiat, minus two times fees
Lets assume 100 spent and one year hold and low exchange fees, so get 99.80 back

Success is: if fiat did not hyper-inflate in the time, facebook or exchanges closing shop will holding and loosing about 2% in value because of inflation.

Success keeping cash in pocket is: not loosing it or fiat hyperinlating, no time wasted on exchanges or wallets

[Coyster]

I do not think there'll be any worst case scenario for bitcoin if Libra becomes successful, and thats something i doubt will happen.

Libra may end up being the number one altcoin, but that would not put it ahead of the bitcoin in the cryptocurrency pecking order.
Imho libra would never be a determining factor to bitcoins progress, adoption nor price.Not to talk of how facebook/libra would defy anonymity and that's something real enthusiasts detest.

[Herros]

I believe that Libra will target the market that is difficult to penetrate by current cryptocurency, which is as a means of reliable payment in retail or merchant. So it is natural that later adoption and popularity of Libra are greater.

And Facebook is a big capital of billions of users and applications such as WhatsApp and Messenger that later support Calibra digital wallet. According to Michael Levine of Pivotal Research, Libra is potentially adopted in a mainstream higher number than Bitcoin.

But it hasn't been bad for Bitcoin, because Bitcoin is approaching the highest level of Libra-driven use by Facebook.

[thecryptogandalf]

Libra is a stablecoin.
What can be said of a stablecoin, well its stable. (pegged to fiat - inflationary)
For 1 Dollar worth of stablecoin someone gets a Dollar worth of xyz stablecoin minus transaction fee.
Changing it back someone will get 1 Dollar minus fees.
The only difference with Libra its pegged to several fiats not just USD by looks of things.

Every large company will have its own stablecoin/token even celebs,

Stablecoins are coming, Libra is one, so is JPMorgans coin and a shit ton of others, like
https://www.coindesk.com/switzerlands-six-stock-exchange-is-working-on-a-swiss-franc-stablecoin

and in addition to that. Being backed by fiat money will make Libra open to inflation and turmoil risk. Because we know that bitcoin does not really affected from fiat money turmoils and that is what makes it eligible for diversification. That is why investors started to choose BTC as a part of their investment. So yes libra is stable and backed by fiat money and yes btc has more transaction fees and really volatile but even with those facts, I dont think Btc will getting destroyed by libra. And when considering the differences between them, Libra actually brilliant idea but still Bitcoin will going to stay and keep continue to be dominant in the crypto market.

[bitbunnny]

I don't think that Bitcoin needs worst case scenario when it comes to Libra.
First of all Libra is totaly different crypto concept that is not competition to Bitcoin. It's centralized, backed up ans with intention to be stable coin, so everything that is opposite to Bitcoin.
Even if Libra becomes successful which I seriously doubt that will not endanger Bitcoin.

[coin-investor]

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?

We all have conflicting views about how Libra coin is going to perform when it hit the market, some people had a big faith on Facebook and some  here do not support Facebook because of the data issue, it's a battle between the two and we have to see that hapen before we can figure out if Libra have a chance.

But for me, I have to say no, Facebook is very notorious in stealing data, they have already paid billions in damages and I still want to protect my privacy and there are Cryptocurrency based products and services that are existing or will exist that are similar to facebook.

[meanwords]

The worst case that could happen is that people will neglect their privacy for Libra. Well I don't think it will affect Bitcoin that much though. They are a completely different coin. It's like comparing Lion to wolf, they are both mammals but different in species. Just like Bitcoin, they are both coin but the other one is stable coin and the other one is volatile. The other one doesn't have any organization controlling it, other one have.

[iMark]

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?

We all have conflicting views about how Libra coin is going to perform when it hit the market, some people had a big faith on Facebook and some  here do not support Facebook because of the data issue, it's a battle between the two and we have to see that hapen before we can figure out if Libra have a chance.

But for me, I have to say no, Facebook is very notorious in stealing data, they have already paid billions in damages and I still want to protect my privacy and there are Cryptocurrency based products and services that are existing or will exist that are similar to facebook.

It's a lie if the arrival of Libra doesn't have any effect on bitcoin. Facebook is a very large company, they can very easily create advertisements and display their products, and there are millions of people who will see these ads. let alone the desire of its founder to make libra as the main cryptocurrency, we cannot take it easy. OK, most crypto users are aware that Facebook and Libra will not be completely anonymous because they are true identity thieves. but we know that new users will certainly see which ones are often seen and libra has a high advertising intensity.

[PointHope]

Libra will be subject to government banking regulation.

Bitcoin doesn't need government permission for honest, accountable, p2p transaction..

Seems unlikely Libra gets's off the ground unless Zuckerberg somehow manages to buy off the federal reserve, which ain't gonna happen.

[NavI_027]

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

I am not sure either if this will greatly affect bitcoin, btc already survived so many trials before and I'm confident it wouldn't fall down from an "overrated" coin lol. Hmm, honestly I think the worst thing could happen is only that btc might lose a few investors or Libra fanatics might say things like "BTC is old, Libra is the new trend", "Libra is the new king blah blah" or other black propagandas. But other than that,  nothing too serious things will happen.