Topic: Could Facebooks LIBRA coin destroy Bitcoin? (Read 22451 times)

I think Libra will never get overtake Bitcoin because you know BTC is the biggest one in cryptocurrency.
If Libra want to overtake Bitcoin the first time try to making good step and replace ETH first.

In the sense of the real intention of crypto being decentralized libra will destroy Bitcoin from such aspects but in terms of success it will be a very tough job for libra to convince crypto enthusiasts most of those bitcoiners still believe that this coin will continue to be superior and it will stay at the top.

No, Bitcoin and Libra are totally different things. Bitcoin always will be powerful, I don't think that this will change. Libra is said to be stable, so that is not a danger for Bitcoin

No, Libracoin will not destroy Bitcoin.
Libracoin is stablecoin for the facebook ecosystem. Then, Bitcoin is speculative coin.

Bitcoin has arrived earlier than Libra and has a large community.
it's very difficult to compare Bitcoin and libra, and that won't happen.

really bullshit LIBRA coin destroy Bitcoin !!! if the price of LIBRA soared, investors would still return to bitcoin and interest would decrease LOL

Of course that won't be possible. Bitcoin is the first cryptocurrency in the world and already has a very strong community. Libra may be a rival to bitcoin but it won't be able to get past the popularity of Bitcoin as the world's first cryptocurrency.

that's a funny statement, now that bitcoin has everything in cryptocurrency it won't be easily destroyed by new coins like Libra. it's bullshit like the Libra Coin team marketing team

If you listen to the podcast it is quite neutral and fair but they do agree that Bitcoin will eventually win, Libra Cognisant even a real blockchain, not immutable and not decentralised!

You cannot compare another centralised asset that was created to make transactions easier and the biggest crypto currency. Facebook cannot allow their coin to be anonymous and this is the core difference between them.

I don't think Libra will be able to destroy Bitcoin, but if it's only to match the volume of Bitcoin on the exchange it is possible, with a note that Team Libra is really serious in handling this big project.

i don't understand why would libra destroy bitcoin. there are and there will always be so many cryptocurrencies and different blockchain solutions in the market. libra will also increase the popularity of crypto market.

Well, that LIBRA (which will be a stable coin if I'm informed correctly) won't replace/destroy Bitcoin is quite obvious but I guess the "yes" from plainsight was related to my reformulation of the question to "Could Facebooks LIBRA coin destroy Bitcoin replace USDT?".
And stable coins are meant to be... stable? so obviously there won't be any profits but still Facebook Inc. might be more trustworthy than Tether Ltd./iFinex Inc.

Thats not going to happen, I dont see any relevance about Facebook"s crypto called Libra, Because bitcoin as the pioneering cryptocurrency is already prove why it was called the king of cryptocurrency. While the newbie cryptocurrency " Libra" has needed plenty of reasons to prove why its deserve attention, to the fact that it was only a stable coin  and there's nothing special about it.

Not really because many would just not be even considering this coin now as FB face value has fallen a lot after the data leak and its market has effected the FB  users as well. Thus this reputation may not be able to pull much crowd to this coin may be short term would be beneficial , but replacing btc not possible.

yes and the answer to that is a sounding YES

If Libra will be a stable coin, the whole discussion is kind of pointless and maybe a better question would be "Could Facebooks LIBRA coin destroy Bitcoin replace USDT?"

Of course not, totally agree, but its worth keeping an eye on it, better the devil you know.

Seriously? Do you think new coin can destroy the base of all cryptocurrencies? Yes, Facebook has a large fan base in the world. It cannot be possible. BTC came to this position through the long way. People will not abandon BTC for the new token. That never gonna happen

Facebook LIBRA coin is not coming to destroy bitcoin, it has come on its own to improve cryptocurrency value, and they have what it takes to make what is good enough. it will also be a challenge for bitcoin to upgrade as it may be a rival. bitcoin shouldn't also relent in its satisfactory specifics.

if libra price is fixed, thats mean libra is a stable coins, just like USDT and others stable coins
and thats mean libra price will never beat the bitcoin price, and i'm sure bitcoin will always become the king of cryptocurrency 

This is funny, do you think new coin can destroy bitcoin?? Even no2 Coin, ethereum cant destroy bitcoin. And you must know bitcoin is mother of coin, the main coins so he cant to destroy. I dont interesthing with libra because i see libra is fixed price, bad choice for invest

Libra is never and never destroy Bitcoin.
Bitcoin is father of all cryptocurrency and no coin will overtake him.
And you know Libra is just very young coin with Facebook branded, i don't really know how Libra will get win and can beat Bitcoin.

Totally agree with you

Facebook is the top and obviously the most popular social media out there, but it could never destroy Bitcoin with its crypto - Libra.
All is just a hype people!

LIBRA cannot overcome Bitcoin, especially in the next one or two years. Because Facebook doesn't have to create a coin to cross Bitcoin, they create a separate coin to serve their system and platform

Bitcoin is not only the king of altcoins and crypto currency
It is the best and strongest and Facebook coin will only follow its path
No reason to spread fud at all

No, it can not destroy bitcoin, why do you think that? it's because facebook company behind it?, there is no chance to destroy bitcoin, because libra coin is just ordinary altcoin.

Good point but we can speculate on what the outcome will be. We have some information to go on in the meantime.

It hard to say that libra coin can destroy bitcoin since libra coin has not officially in the market and i think before the libra coin destroy the bitcoin maybe there is many problem facing into it in the future before libra coin destroy the bitcoin.

I really agree with your opinion, because they have their own community still,
btc will never lose, btc remains the number 1 coin of all altcoins in the world.

libra has been popular for a few weeks but why should you compare it to bitcoin? it's too high, so far many coins say it will replace bitcoin but in reality there is never a coin that defeats bitcoin as well as libra, which will never defeat or replace bitcoin

Libra coin cannot in anyway destroy bitcoin. The coin can only build up on the lapses of the existing blockchain technology. Libra is also an altcoin and I don't see it as anything that can destroy bitcoin because it will be behind bitcoin.

Libra is just another coin which it's survival will be dependent on the state of bitcoin, whether it's pumping or dumping. So I don't see how it could destroy bitcoin.

I usually don't watch podcasts but if you have watched it, you can include those brief explanations that speaker has mentioned for each topic and question that you have included.
Why there are people who are thinking that Libra could literally dethrone bitcoin from its position?

I do not see the possibility of Facebook to beat Bitcoin. In the coin LIBRA you need to throw a lot of money into advertising and its promotion.

Libra will be another alternative coins same and would probably be in top 5 when it launched. I would definitely buy some libra and used it as payment and remittance. I don't think Libra will destroy Bitcoin as many investors will always preferred bitcoin because it's decentralized.

Libra coin is a stable coin its value linked to a basket of currencies such USD.... and it will be centralized (private nodes) which means it is far from being a true decentralized cryptocurrency, obviously its a toy of bankers....

Bitcoin BTC will remain Top 1 forever.

I feel like each day Libra coin becoming a possibility is less and less. Law makers are jumping all over the thing and just seem like they will kill it eventually. Either way, it will only help bitcoin in the long run.

I agree, bitcoin cannot be compared to other coins including Libra Coin. I think the use of Libra coin is limited to the Facebook platform, different from Bitcoin which can be used with anyone. Libra Coin is not a competitor for bitcoin because bitcoin is a store of value

there is nothing to worry about.
Bitcoin cannot be compared to other coins. instead of libra which is predicted to be present in 2020.
everyone is just speculating and guessing. Libra still has many licensing problems.

As for me Libra is not a treat for bitcoin, Libra hasn't launch yet and it has been summoned and a lot of concerned has been raised, libra is going to be a stable coin bitcoin is not.

Highly unlikely. Bitcoin has established a name and niche for itself and it will be extremely difficult to replace. The use case of BTC is simply insurmountable and this can be seen in its continuous trade pairings with other cryptocurrencies and will continue for the unforeseeable future.

The way it works is simple. Bitcoin has its own target group that includes people who understand what decentralization is and old miners and supporters who will never abandon it for a centralized project. Libra will have its own group that will include newbies who will get into what they think is crypto by clicking a banner on facebook.

There's really not much competition between centralized stable coins and decentralized coins that can be used as stores of value.

Andreas Antonopoulos perspective on Libra

https://youtu.be/7S6506vkth4

Libra will help Bitcoin by bringing more awarenes of crypto and the trustless and permissionless aspects of Bitcoin...

You cannot trust Facebook any more than central banksters!

I think they can do this completely. Libracoin is really powerful because their partners are successful businesses and can always work well in a new market by a professional team.
They will soon replace BTC and be the most powerful coin.
Through Libra coin's whitepaper, we can see Mark Zuckerberg's great ambition.
he is really trying to manipulate both the electronic money market and the outside world.

I think you have to be more specific here. Destroy BTC in terms of what?
There are several aspects such as price, volume, liquidity, usage etc...
No coin can destroy BTC in terms of price and not even Libra, after all it's just a stable coin which means it's price would be stable.
In terms of liquidity there are possible chances that Libra might compete BTC but then you never know what happens.
In terms of usage I think Libra has a good chance since it would be regulated in many countries and people will have more trust on it than BTC.

Another claim just to create some hype for the enthusiastic people to pivot their investment on Libra Coin. how delusional this claim is. I mean If they can destroy Bitcoin they already did so. They are so many Coins and tokens has been created since then no one has ever claim Victory even the strongest of them called Bitcoin Cash is its like a kid on Bitcoin.

99% people  here uneducated in simple things in life not talking about complex things which they far away from understanding this....but in order to answer you this so you will know what wait us in the future without predicting and be sure we need to dive deep from where bitcoin come...

LETS GO..
bitcoin come from peer to peer file sharing with twist called blockchain.
now why peer to peer file sharing(decentralized tech) was burn because before this there was centrelized tech which mean there was few main servers that hold all the info like movies,mp3,software and computers around the world was downloading from this main servers without be depending on each other, what happen is the governmnets pretty fast locate this servers and shut down them.

then people became more smart

and build decentralized=peer to peer file sharing which mean our private computers are the servers, for example computer A download from computer B and computer B upload something to computer Z and so on...

BitTorrent is a peer-to-peer protocol, which means that the computers in a BitTorrent “swarm” (a group of computers downloading and uploading the same torrent) transfer data between each other without the need for a central server.

now the governmnet need to shut down more then 500 million private computers and its impossible ,,its called decentralized tech.

now bitcoin is peer to peer money and not file sharing compare to libra project which is centerlized tech and decentralized tech always win...

libra is not threat and will be huge failure for sure its stable coin.

stable coin its not investment its exchange nothing more because the price dont grow its like to exchange usd to euro nothing more but even more
libra stable coins its not real crypto stable coin its centralized and control by facebook ...real crypto its mean its peer to peer money and no central control exist and no body can lock your account or other shit

so fucking simple...

decentralized tech mixed with distributed tech will eat the entire system like peer to peer file sharing it cannot go the other way,

99% people  here uneducated in simple things in life not talking about complex things which they far away from understanding this....but in order to answer you this so you will know what wait us in the future without predicting and be sure we need to dive deep from where bitcoin come...

LETS GO..
bitcoin come from peer to peer file sharing with twist called blockchain.
now why peer to peer file sharing(decentralized tech) was burn because before this there was centrelized tech which mean there was few main servers that hold all the info like movies,mp3,software and computers around the world was downloading from this main servers without be depending on each other, what happen is the governmnets pretty fast locate this servers and shut down them.

then people became more smart

and build decentralized=peer to peer file sharing which mean our private computers are the servers, for example computer A download from computer B and computer B upload something to computer Z and so on...

BitTorrent is a peer-to-peer protocol, which means that the computers in a BitTorrent “swarm” (a group of computers downloading and uploading the same torrent) transfer data between each other without the need for a central server.

now the governmnet need to shut down more then 500 million private computers and its impossible ,,its called decentralized tech.

now bitcoin is peer to peer money and not file sharing compare to libra project which is centerlized tech and decentralized tech always win...

libra is not threat and will be huge failure for sure its stable coin.

stable coin its not investment its exchange nothing more because the price dont grow its like to exchange usd to euro nothing more but even more
libra stable coins its not real crypto stable coin its centralized and control by facebook ...real crypto its mean its peer to peer money and no central control exist and no body can lock your account or other shit

so fucking simple...

decentralized tech mixed with distributed tech will eat the entire system like peer to peer file sharing it cannot go the other way,

Mark Zuckerberg wanted to create a coin that is backed by big companies like Uber, eBay, etc. So that they can stabilize the coin and in hoping that in the near future it will be a success like bitcoin though they are not similized the cryptocurrency libra to bitcoin.
I believe that Libra will bring a very big impact, a good impact on the whole market not in just bitcoin. It won't destroy bitcoin because they are all cryptocurrency.

Anyone who thinks libra could even rival bitcoin shows clearly how they didn't even understand why bitcoin is so successful to begin with.

Bitcoin is so great because it has no central organization, it has no controlling party and it is purely incorruptible. Whereas libra is literally facebook coin that will be stable and pegged to fiat currency and will be sold and managed by facebook.

If you mean investment wise libra will be stable so it won't have any chance making you any richer, if you mean technology wise bitcoin had 10 years to improve whereas facebook will be new, if you mean community wise bitcoin has built a strong one for 10 years whereas facebook has its users but not all will use libra and only a small portion will. Basically in every single aspect bitcoin is much better.

There will be no LIBRA vs BITCOIN in this currency (crypto).
As i always said, NEW cryptocurrency is new support for BITCOIN.
As long as there are more alts to come the better and give more strength to bitcoin.
We should not see the libra as a rival for BTC, we should give both a support for the future of the world currency.

all this libra talk tbh i dont think the coin matters at all.    
will its CREATION cause mass adoption of BTC tho? MAYBE!  people thought crypto was a scam, but they might buy now that fbook is making one
Libracoin tho, will be like gems in a game, an INTERNAL coin
there WONT be external markets for it, and it wont be transferable OUT of fbook
nor will it even have a desktop wallet (i dont think)

its just hype, and fbooks way of getting 1 bil off of people selling DPoS nodes haha

Well.. Its hard to tell could or not , anything can happen on this world.
Libra vs Bitcoin , for popularity.. Libra has it. Libra is Facebook coin which this coin founded by Founder of Facebook itself. Mark Zuckerberg , while Bitcoin founded by Satoshi Nakamoto which we don't know look of him and where is him now.
And if talk about price between this coin , Bitcoin has a big value right now , around 10k$ and Libra ? Meh.. we still didn't know what price later on Libra.
Its just my opinion.. and also maybe Libra hard or maybe can't beat bitcoin.

The answer is no, because the one is centralized and the other one is decentralized.
Libra is no different with the banks, they still control your money and they have full control to freeze your money. As for bitcoin, this coin is fully decentralized and no one controls it.
So I think people tends to choose bitcoin rather than Libra.

There is no way that LIBRA can destroy Bitcoin, like user above me say bitcoin have stronger community than LIBRA.
Facebook has pulled in significant partners in this project and what from my side I can say that they are not partners in this project (Mastercard,Visa, Vodafon, Coinbase, Xapo and etc...) LIBRA there would be nothing of this coin from my side of view.

The kind of hype you guys are giving this Libra coin is really too much. I won't be surprised if this Libra coin ends up nowhere, to be sincere… what makes people think that Libra coin is going to beat Bitcoin is what I don't really know. Bitcoin is the number cryptocurrency and many altcoins has tried to beat Bitcoin but all of them has all failed and I don't expect Libra coin to achieve that, cause there altcoins that are far much better, I think. And another thing you have to know is that whenever people talk about cryptocurrency the first thing that comes to their mind is Bitcoin andb no other thing and nothing is going to change that. Bitcoin will always remain at top, LIbra coin will only compete with altcoins.

@Nhebu you’re absolutely correct Libra is gaining attention due to it’s association with Facebook, who has billions of followers spread across the globe. The Forbes article you’re referring to can you share the link, cause last I had read many companies were on board to support it, not to make profits from it. Bitcoin will not be effected by Libra cause once the hype dies, people will realise Libra can’t offer the returns or features of bitcoins and they’ll immediately dump it and purchase bitcoins.

Well, we can't deny that Libra gains an attention today because it is new. And its not far that it can take also millions of potential users. And I had read from the forbes news that libra will initially be controlled by some of the world’s largest companies, who will profit directly from the use of this currency. What do you think about it? I guess people will somehow divert their attention with it but bitcoin created a trademark that it became the most successful cryptocurrency. Let's see how Libra affects Bitcoin.

suggest everyone listens to the Podcast, it gives some interesting and valid points as to why LIBRA coin will likely be a positive thing for Bitcoin:

https://www.youtube.com/watch?v=td9QJTHSMVE

We can´t say what will happen, nobody knows it.
But, there are 2 possible scenarios.
Facebook coin will bring attention to cryptocurrencies and more people will buy Bitcoin.
Facebook coin really replace Bitcoin and the future of Bitcoin will be compromised.

Libra coin destroys BTC? In terms of where BTC can be destroyed by new coins, is it about price or popularity? Facebook has indeed become the top social in industry media social, but BTC has also become the TOP coin in the crypto industry so according to me, all each has a place presence in the eyes of interested people and the community so BTC will not be destroyed easily .

LISTEN/WATCH PODCAST HERE -----> https://www.youtube.com/watch?v=td9QJTHSMVE

Wes Carlson, Suyash, Slava and Omar discuss the newly released White-paper of the Libra Project by FACEBOOK.

Highlights include:

- Bitcoin vs Libra Coin
- How will regulators view Libra Coin
- What are the properties of Libra Coin
- What will adoption look like
- How will this affect Banks?
- Is this good or bad for Bitcoin?
- Will Libra Destroy Bitcoin?

Recorded on 19 June 2019
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