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What's bitcoin worst case scenario if Libra will be successful?
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Topic: What's bitcoin worst case scenario if Libra will be successful? (Read 8958 times)
SquallLeonhart
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Re: What's bitcoin worst case scenario if Libra will be successful?
August 26, 2019, 03:51:34 PM
#101
Quote from: iMark on August 25, 2019, 03:15:51 AM
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.
No one is saying that Libra will not have its own use case, it will have and we are also aware that it will become successful because of the popularity of the company in charge of it as you said, but no matter the popularity they have, they will still never beat bitcoin, because when it comes to digital payment, we have lots of digital payments in the market, we have alipay there, so tell me why china will ever accept, we have PayPal that we world is already used to, and we have some individual payments from countries, so why would a country give out that power.
Countries will be the first to fight against it, and the world, they block them from using Facebook, till now, china still does not permit their citizens from using Whatsaap, and they did bloc k it, there is no way you can use Whatsaap in china except WeChat, but with bitcoin, because of its decentralized system, it will make people to always want it.
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Re: What's bitcoin worst case scenario if Libra will be successful?
August 27, 2019, 04:46:58 AM
#102
I do not think bitcoin will be destroyed if the Libra coin is successful, on the contrary the success of Libra will most likely jack up the bitcoin to become bigger and higher in price. bitcoin is limited in number if the more requests to buy of course the higher the price and if libra is successful the crypto users will be more and it will affect the price of bitcoin to be higher.
bitcoin is currently the king of crypto and will not be easily replaced. maybe until the next few decades bitcoin will remain the king of crypto.
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Re: What's bitcoin worst case scenario if Libra will be successful?
August 27, 2019, 04:58:32 AM
#103
I really cannot think of a worst case scenario for bitcoin but let us say Libra is successful so well, it will not be bad for bitcoin but bad for others like paypal.
Because if i am using libra and I love it so much,,, why would I want to use Paypal if the same things can happen with Libra but with cheaper fees and more transparent use?
Bitcoin is superior still anyone can see that.
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shoreno
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Re: What's bitcoin worst case scenario if Libra will be successful?
August 27, 2019, 06:02:33 AM
#104
Quote from: leea-1334 on August 27, 2019, 04:58:32 AM
I really cannot think of a worst case scenario for bitcoin but let us say Libra is successful so well, it will not be bad for bitcoin but bad for others like paypal.
that is if libra will become succesful but i heard that facebook might cancel it and that news might be true because as of now there are no new news regarding on the status of libra coin but let say it won be cancell i still dont think that paypal and other payment methods will be threatened except from bitcoin and other cryptos because they are all centralized but libra and bitcoin are both decentralized since both are cryptocurrencies .
TheClownSong
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Re: What's bitcoin worst case scenario if Libra will be successful?
August 27, 2019, 07:20:41 AM
#105
Quote from: jonathan6655321 on June 26, 2019, 12:33:29 PM
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 Coin is a stable coin backed by fiat money. This will make fiat money circulation increase and possibly will make the price of bitcoin rise. Bitcoin and Libra Coin users are different so in my opinion Libra Coin has no effect on bitcoin because bitcoin is now starting to be used as a store of value and not as a peer to peer payment tool
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ololajulo
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Re: What's bitcoin worst case scenario if Libra will be successful?
August 27, 2019, 07:31:05 AM
Last edit: August 28, 2019, 08:03:40 AM by ololajulo
#106
After the Government is through with the check, the Libra coin might be left with nothing. Most of the strong support are reconsidering their state in the project, which may affect public opinion on the project. I didnt expect a big organization like facebook not to have done their inquiry before they venture into the project, If the project will ever be launched at all it will take a long time and the product may not serve all the purposes previously stated.
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Re: What's bitcoin worst case scenario if Libra will be successful?
August 27, 2019, 07:40:48 AM
#107
Quote from: keziakusayang on August 27, 2019, 04:46:58 AM
I do not think bitcoin will be destroyed if the Libra coin is successful, on the contrary the success of Libra will most likely jack up the bitcoin to become bigger and higher in price. bitcoin is limited in number if the more requests to buy of course the higher the price and if libra is successful the crypto users will be more and it will affect the price of bitcoin to be higher.
bitcoin is currently the king of crypto and will not be easily replaced. maybe until the next few decades bitcoin will remain the king of crypto.
The case you say is possible when libra has too many connections with the crypto world, and we are also clear that bitcoin is the one that gets the most attention, with the success of libra coin, which will be free advertising and help bitcoin get more investors. However, if libra does have too much success, I feel this will be a threat in the future of bitcoin because governments of countries do not like underground activities in bitcoin, they need publicity, and libra coin probably allows them to do that, the government will actively support libra coin to compete with bitcoin
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sehoon
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Re: What's bitcoin worst case scenario if Libra will be successful?
August 27, 2019, 09:00:57 AM
#108
The two cryptocurrencies are compared but I don't think each of them can really affect the other one. There are new coins that are always being compared to bitcoin and Libra is just one of them. Libra has a different structure and it requires different regulations. It is going to be an equity-backed asset which is going to be good for this project and also stable coins minimizes volatility. Bitcoin as we know is different from this this aspects.
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Re: What's bitcoin worst case scenario if Libra will be successful?
September 03, 2019, 06:47:30 PM
#109
when libra is nt being launched in market Libra gave all necessary publicity for crypto and finally out of business
Ozero
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 02, 2019, 05:13:12 AM
#110
If Libra is released and succeeds, then Bitcoin may lose some of its capitalization. In this case, people will invest part of the funds in Libra for circulation as a means of payment. Therefore, bitcoin will partially lose its influence as a means of payment. However, in general, nothing will change much.
However, I doubt that Libra will ever be released at all.
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bryant.coleman
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 02, 2019, 06:02:13 AM
#111
I don't understand why everyone assume that Libra is going to be detrimental for Bitcoin. It can be the other way around. Libra and Bitcoin can co-exist and supplement each other. Since Libra is patented by Facebook, the government authorities are not likely to be very hostile towards it. And this can help Bitcoin as well, in achieving a clear legal status in many of the countries. Libra is likely to attract large numbers of mainstream and institutional investors, and many of these investors may also consider Bitcoin at some point in the future. There can be both negatives and positives for Bitcoin. But it will be wrong to concentrate just on the negatives.
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 02, 2019, 11:34:54 AM
#112
There is no worst scenario for bitcoin if Libra will be successful
It can be very positive even if Libra will pass all that regulatory hurdles
i don"t think people will trust Libra much me not for sure
Dangerous in Libra can be that Libra will be kind of corporation money
Next corporation can follow.World owned by corporation is last what i want to see
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 02, 2019, 11:40:29 AM
#113
I can't see anything about destroying Bitcoin with LIBRA.
I always think that this LIBRA or Facebook coin will be a good support for cryptocurrency especially BTC.
What should we do i to ask people what is the best help that LIBRA can do to BTC?
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aces777
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 02, 2019, 01:02:25 PM
#114
I do not think that the success of Libra coin would directly or indirectly cause any problem for bitcoin. I believe they can co-exist in the crypto market and do well for themselves as individual coins. The crypto market is big enough for any coin to grow in and become successful, without directly altering the fate of another.
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akar87
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 07, 2019, 03:52:27 PM
#115
Libra is not part of cryptocurrency until right now, we don't know what is platform kinds of Libra so far, they are cryptocurrency or only digital currency like PayPal. So success or not of Libra Facebook coin do not have effect for bitcoin and altcoin at the future, want success on public or not there are the same thing with bitcoin.
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mr3dds
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 07, 2019, 05:20:10 PM
#116
I think Libra will be very successful, but I don't think that this will affect on BTC. However, BTC might have to descend from the throne.
I think Libra will have the biggest market cap if it got implemented well in what's app and messenger.
ardentvolcanoes
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 07, 2019, 05:33:24 PM
#117
Quote from: mr3dds on October 07, 2019, 05:20:10 PM
I think Libra will be very successful, but I don't think that this will affect on BTC. However, BTC might have to descend from the throne.
I think Libra will have the biggest market cap if it got implemented well in what's app and messenger.
We never know what will the future bring to this project, with so many negative news about this project the only thing that will makes it successful is the
usages that it will bring to the industry. It is a centralized project and the sure thing is it will be use as what it serves originally.
Don't have idea if how crypto lovers will embrace centralized project. Will wait till time reveal after the full implementation of this coin.
Reosta_
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 07, 2019, 10:40:41 PM
#118
We know that Facebook Libra is a stable coin and this is the essential difference between Facebook Libra and Bitcoin. But Libra is already being banned in many countries before even listing. However, if Libra can be successful in the future, I think it can be used as a local currency of countries. Then, Bitcoin may lost its importance significantly.
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 07, 2019, 10:49:49 PM
#119
Quote from: jonathan6655321 on June 26, 2019, 12:33:29 PM
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 is included in Altcoins. So, I don't think Libra will influence Bitcoin too much. We know that Libra will come with a good utility. But again, that is not a threat to Bitcoin.
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Re: What's bitcoin worst case scenario if Libra will be successful?
October 07, 2019, 10:53:58 PM
#120
Quote from: dimastegar on October 07, 2019, 10:49:49 PM
Quote from: jonathan6655321 on June 26, 2019, 12:33:29 PM
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 is included in Altcoins. So, I don't think Libra will influence Bitcoin too much. We know that Libra will come with a good utility. But again, that is not a threat to Bitcoin.
Yes, already it is an altcoin. This will make influence around as a everywhere usable asset as Facebook has got its network being established all over the world. Apart from this it is a Stablecoin, and this too isn't a threat to the bitcoin. Most of the users who prefer bitcoin were to experience good earning out of its volatility.
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