Libra has competitive advantages over Bitcoin. We let this happen.

[Pingip]

Our main devs decided Bitcoin should become digital "Store of Value", short of gold but in digits, instead of "A Peer-to-Peer Electronic Cash System" as stated on the title of the Whitepaper.
Facebook probably discovered that Bitcoin has difficulties in scaling so they made in no-time an answer to what the world exactly needs.

What do you think the world needs?
Digital gold or a fast and secure digital currency?

Why do you think Libra is "secure?" You think your payments on Libra are irreversible?

It's pretty hard to compete with free transactions. No decentralized system can offer that -- users either pay via transaction fees, inflation or demurrage. Otherwise there is no incentive for honest consensus.

So, Libra can offer you free transactions. That's great. But it comes at a cost:

• Your transactions can be reversed and your money can be frozen/confiscated.
• You need to complete KYC to transact on the network at all.
• Your transaction data will be sold to 3rd parties.

Even if we ignore the "digital gold" aspects, these seem like strong reasons to use Bitcoin for P2P payments rather than Libra.

some of your statement is not true look on nano coin about  transactions.

[Dildo Shwaggins]

What do you think the world needs?

people need to have freedom, to have something decentralized like bitcoin.

Digital gold or a fast and secure digital currency?

as I said, people need decentralized things, bitcoin can be "digital gold" and can also be used as a means of payments, I do not see why people would use Libra if they can use Fiat to make purchases

I agree with this:

Libra Is Like Sending a Friend Request to Terrorists, Politician Says

From my point of view the Bitcoin community seem to be stagnant, without any real targets set.

This is a big joke, you know this is not true.

What are the targets you want Bitcoin to have?

just google it

It can become a store of value but right now it is just a speculative investment. Thank you for the cointelegraph link, I haven't read that one.

shitcoin by shit man mr fuckerberg which know only to steal and copy cat others, and his startup facebook is shit compare to crypto space.

crypto is peer to peer tech and ask every e xpert in tech space he will tell you who try to fight with peer to peer tech will lose.

peer to peer file sharing was ban from e very country and the oldest tech in the space and still growing like a monster and bitcoin burn from peer to peer file sharing mixed with cryptography.

its speculative investment for uneducated people, the smart and experts know peer to peer will eat the entire system and facebook include, they know from where come peer to peer and what the power of it.

and dude facebook is stable coin the price will not grow, at last this you must know or you fucking in deep shit

19 July 2018
FACEBOOK
Mkt cap   $566.22B
CRYPTO SPACE
Mkt cap   $282,25B

[Pingip]

What do you think the world needs?

people need to have freedom, to have something decentralized like bitcoin.

Digital gold or a fast and secure digital currency?

as I said, people need decentralized things, bitcoin can be "digital gold" and can also be used as a means of payments, I do not see why people would use Libra if they can use Fiat to make purchases

I agree with this:

Libra Is Like Sending a Friend Request to Terrorists, Politician Says

From my point of view the Bitcoin community seem to be stagnant, without any real targets set.

This is a big joke, you know this is not true.

What are the targets you want Bitcoin to have?

just google it

It can become a store of value but right now it is just a speculative investment. Thank you for the cointelegraph link, I haven't read that one.

shitcoin by shit man mr fuckerberg which know only to steal and copy cat others, and his startup facebook is shit compare to crypto space.

crypto is peer to peer tech and ask every e xpert in tech space he will tell you who try to fight with peer to peer tech will lose.

peer to peer file sharing was ban from e very country and the oldest tech in the space and still growing like a monster and bitcoin burn from peer to peer file sharing mixed with cryptography.

its speculative investment for uneducated people, the smart and experts know peer to peer will eat the entire system and facebook include, they know from where come peer to peer and what the power of it.

and dude facebook is stable coin the price will not grow, at last this you must know or you fucking in deep shit

19 July 2018
FACEBOOK
Mkt cap   $566.22B
CRYPTO SPACE
Mkt cap   $282,25B

and yes his startup is shit ask any experts in tech space.

and to compete with usd,euro and financial system like banks and bunch others which is industry more then 30 trillion usd market,

this industry is like small child wait soon this child will grow , you just far away from knowing the big picture and focus on numbers, educate yourself because crypto space is compete the all financial system , do you fucking get this idea....mark is nothing.

[pixie85]

19 July 2018
FACEBOOK
Mkt cap   $566.22B
CRYPTO SPACE
Mkt cap   $282,25B

Facebook was created in 2004 and Bitcoin in 2009. We'll see what market cap it will have when it's as old as facebook is now. We still have 5 years to go.

Facebook received big founding and was advertised. Bitcoin was not and started from scratch as a decentralized project. You're comparing apples and oranges. Facebook is advertising as we speak bitcoin still after 10 years is not.

[Tylev]

The ordinary people who doesn't have bank access will now have! Definitely support it.

What I can see is that Libra is going to takeover in terms of marketcap probably beat BTC on top but its still is still what is it. Its going to be a success of facebook of course but we also get what we want the adoption. Those who are concern more of privacy may not really be happy about it but I guess it solves one problem we have.

In my opinion, now the Libra coin has very little chances of being released at all. The US and Europe are quickly taking measures so that Facebook does not release its Libra. A bill has been submitted to the US Congress that specifically aimed against the emergence of this coin and prohibiting IT-campaigns with an annual turnover of, in my opinion, more than 12 billion dollars to participate in such financial projects. In addition, at a recent meeting of G7 countries finance ministers, it was also decided to oppose the appearance of this coin. So that states understand the threat to their national currencies with the advent of Libra and the possibility of gathering almost complete confidential information about at least a third of the world's population.

[gentlemand]

I watched all the recent hearings about Libra. It's impossible to put into words how much the US government despises Facebook and detests the concept of Libra.

I would put the odds of Libra being permitted to exist in the form they're proposing at - 0%

It absolutely will not happen unless it's watered down into something even more pisspoor than Paypal.

[rodel caling]

What do you think the world needs?
Digital gold or a fast and secure digital currency?

The world needs both. In my opinion, before it makes sense to use bitcoin for a day to day currency by the masses, it needs to have a more stable price. And for that, we need more liquidity. A LOT more liquidity. And before bitcoin reaches that point, it first needs to be a collectible(which it already became in the past when bitcoin was pretty much worthless), and then a store of value(now).

For now, Bitcoin will be a store of value and a niche currency(for countries facing economic crisis, for government opposition companies like WikiLeaks, and for us computer nerds).

Crypto currency and gold well" definitely is both g important and good investment, gold is good keep it as investment, digital currency is gpguve better job and give easy and convenient for all fast transaction transfering the fund and use it for pay bill using the modern technology. I think no need to worries about the threat of crypto to economic effect of the country it bring better source of income for the every country community to growth their economies. Lira coun can to get easy to all, hope libra coin can convince people all over the world to learn what is crypto or what is bitcoin connected into crypto as general.

[Kewat]

Crypto is about privacy and decentralization. As for this point of view, Libra is not a competitor for BTC.

[veleten]

first thing - bitcoin is not stagnant by any means
stability is the sign of a class and bitcoin has been doing very well over the past years - it didn't have any critical failures or scandals that could threaten its existence, it hasn't been compromised or hacked or anything
Lightning network introduction makes bitcoin a perspective alternative method of payment and its price is breaking the profit records , name one asset that could bring you thousands of % profit in just 5 years?
as for Libra having advantages over bitcoin , Libra is waporware at the moment
we do not know how it performs when it is released , neither we know if the central banks and the governments allow this direct competitor to fiat
I bet they will fight tooth and nail to put obstacles and maybe even ban it in certain countries
all in all Libra should pave the way to the decentralized coins to enter the mainstream and in this regard it is doing bitcoin and crypto in general a service

[erricducducan26]

Libra started a pr compaign as I see..

[squatter]

Why do you think Libra is "secure?" You think your payments on Libra are irreversible?

It's pretty hard to compete with free transactions. No decentralized system can offer that -- users either pay via transaction fees, inflation or demurrage. Otherwise there is no incentive for honest consensus.

some of your statement is not true look on nano coin about  transactions.

Nano is not secure, nor is it decentralized. It uses a variant of delegated proof-of-stake where a limited number of centralized delegated representatives vote to prevent forking or double spending.

That's the trade-off. If you want reliably irreversible and censorship-resistant transactions, Bitcoin is the obvious choice. There are thousands of cheaper alternatives -- including Libra or Nano -- if decentralization and strong security are not required.

[hatshepsut93]

My point is that Facebook with Libra, is actually stealing the hard work that was invested for Bitcoin to become the absolute means of transactions. What was needed so the whole world would adopt it was low fees (as it used to have for a while) and instant transactions. I say it looks stagnant because the Lightning Network doesn't seem to be a priority. Also there are many doubts if LN can work the way it is supposed to. I believe there should be more effort made in this subject.

Bitcoin network has tens of thousands of nodes, which gives it all the cool properties that it has. Will Libra have the same amount of nodes? No, their nodes will just be rented datacenters, and subject to all the problems that you've mentioned like being prone to errors, not being able to handle the traffic at certain times. Libra is not stealing Bitcoin technology, it more closely resembles alts like Tron and EOS, and it will be just a centralized payment company, and centralized payment companies aren't direct competitors of Bitcoin.

[Ranly123]

In the near future you will see libra on top-10 of every cryptocurrency index as it will be valued in Billions even as a stablecoin.
All indexes already have Libra's spot ready and waiting for the release.
https://www.coingecko.com/en/coins/libra
https://coinmarketcap.com/currencies/facebook-libra/
https://www.worldcoinindex.com/news/facebook-unveils-its-native-cryptocurrency-libra-in-a-bid-to-transform-global-finance

"Reaching the unbanked"
From the coindesk article it is clear that Libra will be a fierce competitor of Bitcoin:
https://www.coindesk.com/facebook-launches-subsidiary-to-support-new-libra-crypto
So our moto "Banking the unbanked" is now Libra's main verse and noone seems to actually care.

Our main devs decided Bitcoin should become digital "Store of Value", short of gold but in digits, instead of "A Peer-to-Peer Electronic Cash System" as stated on the title of the Whitepaper.
Facebook probably discovered that Bitcoin has difficulties in scaling so they made in no-time an answer to what the world exactly needs.

What do you think the world needs?
Digital gold or a fast and secure digital currency?

From my point of view the Bitcoin community seem to be stagnant, without any real targets set. What are the targets you want Bitcoin to have?

So what is you point in saying all this stuff? Discrediting Bitcoin for what it has achieved over the years cannot make you Libra come closer to it. Also, Bitcoin community does not seem stagnant coz it's always evolving as what we have experienced since it started.

[Dildo Shwaggins]

19 July 2018
FACEBOOK
Mkt cap   $566.22B
CRYPTO SPACE
Mkt cap   $282,25B

Facebook was created in 2004 and Bitcoin in 2009. We'll see what market cap it will have when it's as old as facebook is now. We still have 5 years to go.

Facebook received big founding and was advertised. Bitcoin was not and started from scratch as a decentralized project. You're comparing apples and oranges. Facebook is advertising as we speak bitcoin still after 10 years is not.

My post was an answer to the comment bellow

his startup facebook is shit compare to crypto space.

[knuckey]

User data leakage to the public is proof that Facebook has a vulnerability to security, this is a consideration and has become my memory that is always questionable. I personally have lost interest and worry about that, if they launch libra later, maybe I am more comfortable using and storing libra to another wallet.

[mk4]

I watched all the recent hearings about Libra. It's impossible to put into words how much the US government despises Facebook and detests the concept of Libra.

I would put the odds of Libra being permitted to exist in the form they're proposing at - 0%

It absolutely will not happen unless it's watered down into something even more pisspoor than Paypal.

I think they were hating on Facebook a little bit too much LOL. But I really couldn't blame them, as Facebook has done some crap concerning privacy multiple times in the past already. Such a shame for a decent platform that went to crap.

One thing I found frustrating to hear though, is that even though Marcus said multiple times that multiple companies(not solely Facebook) will have control over Libra, some of the people(?)/officials in the hearing is still pushing as if Facebook has 100% control over Libra.

[Miklight88]

Libra to many seems going to be big but are the crypto space going to be free as it was initially integrated as a privacy stuff with Libra? Is what we should be concern about as I see it to be a tools for regulators to get their way in to crypto .

But I can see more adoption coming thru Libra and main usage of blockchain might be jeopardize with at the end but all in all let watch and see where this will end.

[omonuyak]

In the near future you will see libra on top-10 of every cryptocurrency index as it will be valued in Billions even as a stablecoin.
All indexes already have Libra's spot ready and waiting for the release.
https://www.coingecko.com/en/coins/libra
https://coinmarketcap.com/currencies/facebook-libra/
https://www.worldcoinindex.com/news/facebook-unveils-its-native-cryptocurrency-libra-in-a-bid-to-transform-global-finance

"Reaching the unbanked"
From the coindesk article it is clear that Libra will be a fierce competitor of Bitcoin:
https://www.coindesk.com/facebook-launches-subsidiary-to-support-new-libra-crypto
So our moto "Banking the unbanked" is now Libra's main verse and noone seems to actually care.

Our main devs decided Bitcoin should become digital "Store of Value", short of gold but in digits, instead of "A Peer-to-Peer Electronic Cash System" as stated on the title of the Whitepaper.
Facebook probably discovered that Bitcoin has difficulties in scaling so they made in no-time an answer to what the world exactly needs.

What do you think the world needs?
Digital gold or a fast and secure digital currency?

From my point of view the Bitcoin community seems to be stagnant, without any real targets set. What are the targets you want Bitcoin to have?

We should not deny the fact that the personality behind libra will easily influence it in the market and it is because of that, that we are hearing different personalities talking about it when it has not been launch but becoming more popular in cryptocurrency cycle more than almost all the stablecoins and altcoins. That do not mean that it is going to replace bitcoin because bitcoin has a strong foundation and it is decentralized.

[mk4]

We don't want bitcoin to be stable,the rise and fall in value of bitcoin is what makes it reasonable to invest in by many investors,there is no reason to invest in stable coin

Bitcoin wasn't solely made as an investment. Bitcoin was made to be used as a store-of-value and or a currency. Bitcoin is just an investment right now due to it's volatility and it's potential to go a lot higher in the future, but the end goal is still for bitcoin to have a stable price. I mean, I don't know about you, but I'd definitely prefer my fiat hedge and day-to-day currency to be stable in price.

[veleten]

We don't want bitcoin to be stable,the rise and fall in value of bitcoin is what makes it reasonable to invest in by many investors,there is no reason to invest in stable coin

you are wrong on so many levels
we do want bitcoin to be stable , it is better to have a small growth than random ups and down up to 35% of the price
there are hundreds of reasons to invest into a stablecoin , one of them is when the market volatile or going down
USDT was a relatively safe haven to keep coins for traders , when every other coin was falling tether was -0.02% or so
you confuse speculate and invest here ,probably - investing is a longterm process ,usually
and you do want to have a stable income rather than watch your asset lose half of its value one day