MarketingBeast (OP)
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August 13, 2019, 08:59:11 AM |
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If you are a crypto enthusiast - you will be just as interested in this topic as I am. I would like to learn your opinion on what threats does Libra pose on Bitcoin? I believe that this is a hot topic worth considering.
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jossiel
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August 13, 2019, 09:22:54 AM |
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I'm interested with this kind of topic but just a disclaimer, this doesn't mean that I'm also interested with Libra coin. This coin poses a threat to the government and that's why as early as today, they are questioning its potential and use.
But Libra as a threat to bitcoin? I don't see the possibility that this coin is ever going to be a potential threat to bitcoin. How can be this centralized stable coin can be a treat to a decentralized coin and highlight of the market?
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Prolifik
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August 13, 2019, 09:31:25 AM |
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Libra can only help crypto ecosystem with a massive adoption. Libra will be a entrance gate, users will learn about it, use it and later switch to Bitcoin. Like Bitcoin users also bought altcoins.  |
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Red-Apple
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August 13, 2019, 12:02:14 PM |
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nothing at all.
if anything, Libra is so good for bitcoin. because after a while that this centralized shitcoin started abusing its users private data and closed a bunch of accounts and blocked their money, everyone will realize how bad centralized altcoins are. specially when they are created and controlled by a malicious company like Facebook that has no respect for its users.
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avikz
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August 13, 2019, 12:13:41 PM |
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Libra can only help crypto ecosystem with a massive adoption. Libra will be a entrance gate, users will learn about it, use it and later switch to Bitcoin. Like Bitcoin users also bought altcoins. I doubt that would ever happen! Libra and other cryptos are structurally very different even though their usability is somewhat similar. So I don't think Libra would anyway help in bitcoin adoption. But yes, it will make a lot of people aware of the existing of digital currencies and its usability which may help in raising awareness about cryptos. Nothing more will happen!! Having said that, I also want to emphasize on the fact that Libra is already receiving a lot of regulatory hurdles. I don't know when they will be able to release it to the masses! |
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yazher
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August 13, 2019, 12:13:54 PM |
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Libra can only help crypto ecosystem with a massive adoption. Libra will be a entrance gate, users will learn about it, use it and later switch to Bitcoin. Like Bitcoin users also bought altcoins. Agreed with this statement because Lybra has massive popularity in the crypto world it makes the economy of Altcoins more stable. however, the effect of Libra can be good if the investors commonly switch the Bitcoin to libra and Vice Versa when trading. this has nothing to do with Bitcoin rather it helps it gain more buyers too. So there's nothing to worry about because this is just another hype bitcoin will not be affected with this kind of Coins. Let's see the outcome of this I bet Bitcoin will have a price increase when Libra finally comes. |
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nutriagrigia
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August 13, 2019, 01:22:17 PM |
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I think Libra is not a threat for Bitcoin. this is a threat for the fiat money and for bitcoin, it is another friend who will help attract more attention it
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eternalgloom
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August 13, 2019, 01:58:19 PM |
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How would a stablecoin pose a threat to Bitcoin? Bitcoin and Libra have two completely different use-cases.
It's a rather weird question and just shows how little most people actually know about Libra.
One quick look at the whitepaper would have told you this.
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indriasyifa
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August 13, 2019, 02:02:19 PM |
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I don't think BTC will be threatened with the emergence of Libra, as we used to predict that the BNB will replace BTC, or BNB will affect BTC. after all this time nothing happened, why didn't this happen? because BTC stands alone on the blockchain and does not depend on other coins, so BTC will remain strong in its position and not be disturbed by the emergence of various new coins.
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VanDeinsberg12
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August 13, 2019, 02:40:10 PM |
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you can take what already done by tether as an example because libra will be a stable coin and it will be used as a payment system only. Libra is not a big threat for bitcoin consider it was working in the different thing.
it can be a threat for the majority of the stablecoin when libra can be used to buy crypto like bitcoin.
Libra is main competitor for the existing stable coin like tether.
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el kaka22
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August 13, 2019, 02:41:39 PM |
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Absolutely none, bitcoin is totally different thing than Libra and they are not even close right now. Libra is a stablecoin which is based on the combination of some stocks and dollars/euroes facebook has that is basically backed by facebook saying "we have enough money to cover this" whereas bitcoin in itself is a currency and not a stable coin backed by anything.
It means people who want to use Libra will be using it for sending or receiving money using blockchain technology without a problem and people who want to use bitcoin will be using it for the improvements over fiat currency. Libra is just fiat currency but digital and backed by blockchain, its like a high end banking system nothing more, bitcoin is just like dollar, euro, pounds but digital and much better version.
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masterrex
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August 13, 2019, 02:42:04 PM |
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If you are a crypto enthusiast - you will be just as interested in this topic as I am. I would like to learn your opinion on what threats does Libra pose on Bitcoin? I believe that this is a hot topic worth considering.
I never see Libra as a treat to bitcoin, because libra is just a stablecoin and pegged with US Dollar so its value wont go up like Bitcoin does, In the case of the facebook influence on the Libra project, As we all know that Facebook has billions of users around the world thats why other's saying that it may pose a threat to bitcoin. But for me i dont think it really matters. Bitcoin is the King in the cryptoworld and Libra is just a pawn and thats my opinion. |
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takngantuk
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August 13, 2019, 03:47:12 PM |
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Libra will not threaten bitcoin. this coin will encourage the adoption of crypto throughout the world. with libra, the whole world will be open to blockchain technology. this is good for the crypto market, can have a positive impact.
so no need to be afraid. I think the only thing to fear is not bitcoin, but stable coins. You know Libra is a stablecoin project. if this is released there will be a new stable coin, it might even kill the coins that already exist today.
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cryptoperkele
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August 13, 2019, 03:52:37 PM |
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No threat what so ever. But if and when Libra fails, or when people see the problems with the centralized permissioned blockchain, people see why bitcoin was always the main cryptocurrency.
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tsaroz
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August 13, 2019, 04:18:56 PM |
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Libra doesn't pose any large threat for bitcoin as the two are quite different in their nature. The chief of Libra cryptocurrency project, David Marcus clearly stated it on his tweet. Many want to pit Libra vs. Bitcoin. In my mind these two are not in the same category. BTC is a decorrelated (investment) asset. Libra is designed to be a stable medium-of-exchange. I have been, and remain a fan of BTC, but for very different purposes. https://twitter.com/davidmarcusLibra being a kind of stablecoin would directly compete with stablecoins while having a positive impact on the price of bitcoin. Though Libra according to some could be a threat to fiat. https://www.youtube.com/watch?v=am5TY-MhxmY |
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YuginKadoya
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August 13, 2019, 04:33:24 PM |
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Well after reading most of the comments I am glad that Libra doesn't pose any threat for bitcoin but as it is establishing its name under cryptocurrency then the government may consider it as relevant to Bitcoin as well but at least I am seeing positive news that Libra will be stopped in its tracks because many are treating Libra as a threat and lawmakers are very sceptic with it and they are treating Libra as a troubling trend that needs to stop, So I am not against it, But lumping Libra to Bitcoin is not a great thing.
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dungp3132
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August 13, 2019, 04:57:04 PM |
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Libra has been halted for now, by the USA government. Maybe in months to come, the USA governments might allow Libra to launch, but for now it has been halted. Libra, if we look at its whitepater, originally planned to create not as a threat or competitor of bitcoin. I believe Facebook and Libra team will maintain their original ideas for the future growths and development of Libra and ecosytem around Libra.
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aprilnot
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August 13, 2019, 05:05:25 PM |
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might be able to challenge the dominance of bitcoin. although this possibility is very low, because bitcoin will definitely not be that easy to conquer. but libra could make the crypto market be excited again in the future. there will be positive impacts if libra is released. but I hear this project is still not certain.
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confreslamp
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August 13, 2019, 07:55:16 PM |
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Libra is another Paypal based on blockchain, there is no anonymity or privacy behind Libra, so even if Libra will be accepted all around the world, it would not effect BTC in a negative way, but would help to spread the world about crypto currencies.
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trust7
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August 13, 2019, 08:04:51 PM |
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might be able to challenge the dominance of bitcoin. although this possibility is very low, because bitcoin will definitely not be that easy to conquer. but libra could make the crypto market be excited again in the future. there will be positive impacts if libra is released. but I hear this project is still not certain.
It is unlikely that bitcoin can be so easy to move from its strong position, but Libra may well become a kind of competitor and strengthen its position. She really get into the top 5 cryptocurrency, no wonder so alarmed the us government is possible. |
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