Is libra coin going to dominate the Bitcoin market?

[ecnalubma]

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?

No, Crypto enthusiasts won’t use Libra because it will be a boring coin because its stablecoin. I don’t think that it will outperform other crypto as well, it will be like a paypal 2.0 for new generation but investors won’t buy bunch of it.

[inanilujimi]

I don't think libra is possible to reduce the dominance of bitcoin in the crypto market, they just have difficulty getting approval from US Securities ,,
So don't overdo it.
How coin a stable join dominate the market? Remember people like this market because of its fluctuating nature.

[joinfree]

Impossible! ...Why?

1. A shit centralized coin that goes against every idea of decentralization.
2. A coin which has not yet been launched and very likely will not been launched unless in their own selfish dreams and wishes.
3. A coin which is being developed by someone who has one of the poorest security mechanisms despite his reach in the technological industry.
4. Not even a crypto noob will buy into this idea.

i will definitely get boring if i should keep on because it's going to be a long list but you are all welcome to add more! RIP Libra Coin even before its birth lmao

[jazmuzika217]

In my own opinion, Libra can't do to dominate  the bitcoin market or even the left percentage from crypto market because all we know that libra already faced in different issue upon launching so as a crypto investor and trader I will stay away to the coin or project that have a big possibility to engage in another huge problem in the near future.

[oktana]

will only compete with usdt, and will not be better than that.

volume is also very much related to traded exchanges, if only concentrated in 1-2 markets it will not bring change even though they have very many users. Then libra will face many regulations that will prevent them from moving faster. Approval from US Securities will only bring more waves of speculation towards bitcoin.

[mrdeposit]

Impossible! ...Why?

1. A shit centralized coin that goes against every idea of decentralization.
2. A coin which has not yet been launched and very likely will not been launched unless in their own selfish dreams and wishes.
3. A coin which is being developed by someone who has one of the poorest security mechanisms despite his reach in the technological industry.
4. Not even a crypto noob will buy into this idea.

i will definitely get boring if i should keep on because it's going to be a long list but you are all welcome to add more! RIP Libra Coin even before its birth lmao

Bitcoin will still maintain its place for many years. There are tens of thousands of altcoins in this industry like the libra, among them there are more advanced ones than Bitcoin, but none of them has taken its place and will not take many years. Bitcoin is already the root of the tree, and if anybody touches it, it will decay.

[airdnasxela]

Right now, what only Libra has is the name since it is backed with famous companies. But since it hasn't been launched and approved yet, we still don't know what to expect in its performance. But I think it'll be a hot topic for days after launching it but it won't reach the point that it will after bitcoin's dominance in the market. Bitcoin will still remain as is because they are different so we don't have to worry about how it'll going to affect Bitcoin.

[ashmodeus]

I told you, it's just a stable coin, I mean how stable assets stand far from good investments like bitcoin, eth, even NANO.
for another reason, i guess libra coin will take over USDT marketplace rather than bitcoin marketplace.

[yehestielsiburian]

Libra will not be able to compete with bitcoin.

Will it dominate the cryptocurrency market?
Talking about the cryptocurrency market, it could happen, to become the TOP 10 maybe Libra would be disturbed. But for rivaling Bitcoin in the market it will not happen. Bitcoin number one.

[Obito]

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 could possibly be. But popularity isn't all about the dominace it is about the essence of the coin itself to the community specially to the user who uses particular platform in which it work. It is not like because Facebook is really popular it doesn't mean that their coin would get the hyped as well. But anyway, let us just wait till libra get approved and let's do the talk later on.

[BeManga]

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 think it's impossible for libra to dominate the market
it can only reduce a small amount same like other altcoins and not that high to dominate bitcoin

[pakhitheboss]

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 will be another alt coin that will be controlled by a centralized entity. I do not think there will be a big change if libra is able to get the required approval from US securities. It will add a little bit more value to existing market.

[TastyChillySauce00]

even if it does dominate the crypto market it will just add yet another flow of capital to the whole crypto market because Libra is just another stablecoin and won't affect bitcoin that much. They are just taking advantage of the blockchain technology and make it seems like a crypto. They'll just become other method for people to buy bitcoin or vice versa, it's just literally that.

[ganeshramk]

I dont think that Libra will domninate the bitcoin market as it is meant to be a stable coin. Stable coin and crypto movement does not go well to make it bigger in the market.

[Sendi blackspade team]

I dont think that Libra will domninate the bitcoin market as it is meant to be a stable coin. Stable coin and crypto movement does not go well to make it bigger in the market.

like trading with a USDT pair I think libra can take an important role in the market. It does not dominate the bitcoin market trading but it would be better to trade with altcoin or other assets. except libra is only made for their community. then it will not affect the bitcoin market at all.

[crzy]

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 believe on bitcoin but Libra coin is a big threat for altcoins especially if it gets the support of the government and I see its success in 2020. There are so much good news for 2020, we should welcome it and let’s hope that every government will support any progress regarding to cryptocurrency and no more politics.

[alphaboon]

I think it will be dead even if it comes out.  The politicians are dead set against it.   I guess most investors will not want to be in the bad books of the POTUS

[the rise]

Right now, what only Libra has is the name since it is backed with famous companies. But since it hasn't been launched and approved yet, we still don't know what to expect in its performance. But I think it'll be a hot topic for days after launching it but it won't reach the point that it will after bitcoin's dominance in the market. Bitcoin will still remain as is because they are different so we don't have to worry about how it'll going to affect Bitcoin.

Libra could have done a massive step by adjusting the volume, but on the contrary would further strengthen bitcoin from daily conversions as has been done by other stable coins. the steps to approve libra are still long because the government's reaction still shows disagreement. Facebook itself seems to move slower with libra after facing a previous congress.

[DosManos]

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?

well if libra will have few billion dollars market cap at launch out of the blue, it will make bitcoin dominance go down by precentage
but it does not really mean much..  just mathematics

[barabarian1]

if next year libra will be released and can enter the exchange it will not be able to compete with bitcoin. because we know libra is a stable coin that is completely controlled by facebook. maybe libra will be widely used for payment tools but in terms of investment and the dominance of bitcoin will still be number one. people like bitcoin because the fluctuation can provide benefits. and bitcoin has survived on the crypto market for 10 years. so I think bitcoin will not be defeated by libra coins.