Is libra coin going to dominate the Bitcoin market?

[jacafbiz]

No, it won't Libra is a threat to stable coins projects not Bitcoin, the role Bitcoin is playing is censorship resistance, if anything happens, Libra team could hold on to your coin but not with Bitcoin because there is no gatekeeper to prevent the transaction. I for one believe Libra would be approved and it is going to be  a plus to Bitcoin, because more people would learn and know about BTC

[tenakha]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

Why do you think so? This is a huge claim, and only belonging to Facebook can not be the cause of this claim. BTC is in the first place for years and I think at least it will be there in the next 5 years. Maybe the electronical type of the paper money that will be created in the future may make changes in this matter, but this is certainly not Libra.

[fortunecrypto]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

If they get the approval of the US Securities and they can implement, some of the rules that they want and if the Securities will allow it, then there is a possibility that Bitcoin can dominate the market, but being a centralized coin, there will be many oppositions.

[Aabcde]

I don't think that will happen. Because bitcoin has experienced ups and downs for the past 10 years naturally. Therefore I think libra will not be able to match or outperform bitcoin.
All this is just a matter of purpose. Where bitcoin provides decentralized payment services while libra is rumored to be a centralized stable. Which is where most stablecoin now no one is able to surpass the dominance of bitcoin.
Maybe libra only dreamed of passing bitcoin.

[yulionoo]

I think if the Libra Coins have been approved and released then it will not defeat the dominance of Bitcoin in the cryptocurrency market. because at this time bitcoin has become the king of cryptocurrency already has a community, trading volume and high prices. it will be difficult for other coins to beat bitcoin. and libra coins are stable coins that will not be able to defeat bitcoin that is decentralized and has high flutuation.

[Anonylz]

many people place too much expectations on this libra coin that is yet to be approved, the market is full of competition which is good for a healthy growth, i don't see any one project that has been able to dominate btc market till date and i doubt if there will be for a long time,
As much as the hype of libra is high it will only last for a short period, btc has been around since decades and still standing strong, i can't really say how libra will perform after a year talk more of a decade.

[crossabdd]

not necessarily. I think Libra will remain a small part of crypto. but i also don't know, how those teams from libra prove their future. that can also happen, today we know that USDT is the most stable and dominant altcoin here. because it has a very stable value against the USD. so it is considered safe for investment or just store assets of crypto users. Libra is currently still under development and there are still many problems in it. so we don't know. is it true that it will be the most stable and approved currency of the world.

[Landak]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?

Of course not, libra coins belong to the Stablecoin category, so I guess, obviously, won't be able to dominate the market.

Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

reduce the dominance of bitcoin in the market, will not be reduced much, at most only 1-3 percent.
overall, libra coins are just stable coins in general so there is nothing to be special about.

[coin-investor]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

It's like saying we are doing great on being decentralized then we realized it's much ok to go centralized, I don't know how competitiveLibra coin when it launch, but all I know is, it's going to be a battle of centralization and decentralization, Ripple should be the one worrying if Libra coin is finally launch, not Bitcoin, it's dominance will still remain, whether there is Libra Coin or there is none.

[LouVandetta]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

That, we don't know for sure 'til its launch. We don't even know when it will be launched either. So, it would be good to not speculate too fast or high about such things.
It is indeed what people have been expecting of Libra to have a great value and might be the next big thing, still if we're talking about the possibility of Libra coin could reduce the dominance of bitcoin market, I think it's unlikely to happen. We will know eventually when the time is right.

[Pamadar]

It won't happen. This is crytpo currency and we all knew that bitcoin got the attentions of each investors and users so even libra got its chance to passed the US policy it's needed for this project to also gain the trust of crypto peps. Being stable makes it much tougher for this project knowing that central power do influence the market value and always prone to manipulations.

[ragavancoin]

I think libra Performa well if it is launch in crypto market because of fame of Facebook and it can take place in top ten coins in crypto market but libra can not dominate the crypto market because of it will be centralised  coin, like a ripple coin and people love to use decentralized coins like bitcoin and bitcoin will be the most successful coin for ever,  so there is no point to over take bitcoin by any other crypto currencies.

[senin]

Even if Libra is released, which I doubt very much, this is just one of many stable coins. Stable coins can compete with cryptocurrency only as a means of payment. However, a decentralized cryptocurrency has many other functions that do not perform stable coins. In addition, the Libra coin will no longer be able to fulfill the role of a global coin, as it was originally intended. I think that stable coins of the European Union, the USA and even China will have more popularity than Libra.

[Shasha80]

If the Libra coin is successfully approved by the American government, it will launch into the cryptocurrency market. It cannot dominate
market as well as bitcoin. The reason libra coin is stable coins, the price is the same as the US Dollar. Very different from bitcoin the price
fluctuates depending on supply and demand. How can we make a profit if the price is stable at $ 1. Why bitcoin arrived can dominate the
market, not only because it's popular. But bitcoin prices are volatility, which means it can change quite quickly and drastically. This is what
makes bitcoin interested by investors, because it can generate profits in a relatively short time.

[Jamalkm74]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

I Don't think so it’s happen, if USA approve it then It's just stable coin like USDT, Can't possible to dominate Bitcoin market, but i think people are waiting for invest in libra coin just because of USA coin, so now need to wait for approval.

[Kemarit]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

How can it dominate when it is not even consider a crypto currency in the first place? So the argument is flawed in the beginning. And as far as I know, they wanted to compete in the remittance services, so most likely XRP will be their main competitor and not Bitcoin per se.

With that said, there could be effect on Bitcoin but I doubt that it will challenge the dominance of BTC here. Two different market and Libra should be considered as token and not crypto.

[Xxmodded]

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

Bitcoin have been king for all altcoin and never have new coin although stronger like Libra become competitor for bitcoin, for Libra still claimed an illegal coin transaction now because United State government not giving space for Libra become legal transaction there and keep not get permission from government until now.

[shiming]

It seems they are currently planning to use it inside Facebook. Recently, their crypto projects have been highly valued by the government, which attaches great importance to the implementation of cryptocurrencies. I don't know if it will be affected by Chinese reasons. Libra is different from Bitcoin. I don't think it's comparable. Even if Libra is launched. It is also a stablecoin. The definitions are different. Thank you.

[fuer44]

on a usage basis, maybe yes. because if it is true that libra is made with a value equivalent to the dollar then the value is stable, chances are that people who will make online transactions will switch to libra and bitcoin will lose their users as online transactions. rather than paypal, ebay or others, chances are libra will be a favorite choice.

[MMysterious]

I am not too sure but Libra has the potential to become a currency for billions of people. Facebook is bigger than a country, maybe even bigger than China? And Facebook's trading market is ever growing, even surpassing Youtube on its first year. Libra can kill or diminish the US dollar. The thing with Libra is it has the support of the largest financing firms all over the world, some of them backed out but in reality they still wanted to become part of it and if not for the US government threatening them. Libra is also a stable currency based on US dollar. Zuckerberg is actually giving the US some kind of a favor. The US needs to address this carefully because if not, someone will do this. Telegram's founder is another potential.