Does Facebooks's Libra cause the growth of bitcoin?

Johnzky

member

Activity: 616

Merit: 30

Quote from: waitlevvy37 on June 19, 2019, 12:32:05 AM

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

Lol after Trumps attack on Bitcoin and libra coin I guess this not helping instead adding some bad reputation towards cryptocurrency,things that is not good as well

Quote from: bitbunnny on July 22, 2019, 08:56:09 AM

There are different theories about Libra and its influence on Bitcoin in positive and negative way. To my opinion Bitcoin price pumps or dumps are not connected with Libra and currently Libra is given much more importance than it actually has. It seems that people like to find some "third" party that is responsible for situation on Bitcoin market but Libra is wrong address.

You have some points there ,and for me this Libra coin is being over advertising these days and not as good for the community

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

There are different theories about Libra and its influence on Bitcoin in positive and negative way. To my opinion Bitcoin price pumps or dumps are not connected with Libra and currently Libra is given much more importance than it actually has. It seems that people like to find some "third" party that is responsible for situation on Bitcoin market but Libra is wrong address.

Polar91

hero member

Activity: 1120

Merit: 553

Filipino Translator 🇵🇭

Quote from: TopT3ns on July 21, 2019, 06:43:11 AM

Quote from: waitlevvy37 on June 19, 2019, 12:32:05 AM

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

From what i see maybe because facebook indirectly support crypto. And it which make bitcoin price growth because bitcoin is center or cryptocurrency. When something big or maybe a company that really influence support crypto, means good news for crypto itself.

If we are talking about cryptocurrency as a whole, we can undeniably say that Facebook's libra can help making it bigger and more popular for everyone however when we talk about its effect to Btc, it could be positive or negative. Positive in terms of trading since adding Libra as pair with Btc could boost Btc's value. Negative in a way that Btc's potential investors/users could rather prefer Facebook's libra.

yvesp110

hero member

Activity: 1092

Merit: 501

Quote from: TopT3ns on July 21, 2019, 06:43:11 AM

Quote from: waitlevvy37 on June 19, 2019, 12:32:05 AM

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

From what i see maybe because facebook indirectly support crypto. And it which make bitcoin price growth because bitcoin is center or cryptocurrency. When something big or maybe a company that really influence support crypto, means good news for crypto itself.

Not really and I do not really think and buy it that Facebook’s Libra is the reason behind Bitcoin growth. We have these price restrictions for long and it was precluded from a very long time that Bitcoin will grow once it is able to cross these restrictions. Right now, the market is pretty bullish and we are expecting the next halving so data shows that the coin will gain value.

Carreuh

full member

Activity: 560

Merit: 101

I never thought that libra could help or cause the growth of bitcoin, because the libra coin was just released by Facebook, maybe this argument arose because of Facebook's success that will be followed by libra, but I don't think there is any influence if bitcoin grows because of libra

FIFA worldcup

full member

Activity: 1134

Merit: 105

Quote from: Distinctin on July 02, 2019, 02:45:49 AM

Quote from: sheenaedago on July 01, 2019, 09:55:49 PM

If many people will exchange this type of coin, there could be some probability if they'd have to use bitcoin as mode of payment for this. But if eth or other tradings will also adopt payment for libra, the orders will be splitted. Therefore it's not a contribution to bitcoin price growth if we rely only for libra.

This is a good possibility, although Libra is a stable coin but it could also increase the demand of crypto.
Libra/BTC and Libra/ETH and more is possible, it will be a big help for Libra's trading pair to grow more since we know how big Libra is.

Libra is an altcoin independent of bitcoin. It will have no effect on bitcoin neither it can replace the popularity or volume of bitcoin.
Since it is a stable coin, i do not think it can attract traders and therefore there will be no manipulation on it.

TopT3ns

hero member

Activity: 2548

Merit: 572

#SWGT CERTIK Audited

Quote from: waitlevvy37 on June 19, 2019, 12:32:05 AM

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

From what i see maybe because facebook indirectly support crypto. And it which make bitcoin price growth because bitcoin is center or cryptocurrency. When something big or maybe a company that really influence support crypto, means good news for crypto itself.

FanEagle

legendary

Activity: 2884

Merit: 1117

I think there is a good chance it did that indirectly. I mean facebooks libra is not liked by the financial world that much, they see this as power grab by facebook and they are afraid that facebook going into finance would have a big hurt in financial world of wall streets and similar stuff around the world so they want to prevent it. That in return makes people focus on bitcoin a lot more, they have been invested in bitcoin far longer and even financial big corporations like JP Morgan has bitcoin for sure which means they are trying to steer people away from Libra and into bitcoin if they want to work with blockchain or crypto technology. So, in a sense yes Libra did made bitcoin bigger but not directly, it did it without really wanting that to happen.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: BUK2016 on July 14, 2019, 04:19:27 PM

Quote from: waitlevvy37 on June 19, 2019, 12:32:05 AM

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

What has not yet been lunch should not be referred as shitcoin in my opinion because you can tell what its market value will eventually turn to at the end of the day. But its may likely create more awareness for bitcoin and crypto currency in general and people's believe in crypto currency.

some things don't have to be launched for us to know what they really are!
in this case something that has copied the technology that bitcoin introduced but implemented it in a centralized manner, also has a closed source code and on top of that a private blockchain and to top it all it is owned by a company that is known to be the enemy of its user's privacy and abuses their personal information. don't you think their coin is the exact definition of a shitcoin?

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: BUK2016 on July 14, 2019, 04:19:27 PM

Quote from: waitlevvy37 on June 19, 2019, 12:32:05 AM

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

What has not yet been lunch should not be referred as shitcoin in my opinion because you can tell what its market value will eventually turn to at the end of the day. But its may likely create more awareness for bitcoin and crypto currency in general and people's believe in crypto currency.

Some people tend to connect all sort of events with bitcoin price rise or price drop. Now it`s facebook libra coin, yesterday Trump said something that affected the price or rejected ETF proposal, before that Chinese were responsible for price change, always something.
Facebook is huge, billion dollar company, and like everyone on top there are supporters and haters. Bitcoin has it`s own supporters and haters too. Crypto is new thing for this world, every marketing and spreading awarness about crypto is a good thing, what will happen with the market itself and what changes we will see in the future is different topic, we need to be here and see all that.

BUK2016

full member

Activity: 770

Merit: 126

Quote from: waitlevvy37 on June 19, 2019, 12:32:05 AM

There are many hype around Facebook project and launching its shitcoin whereas there are some "experts" who do mean that Libra cause the bitcoin growth? How is that possible?

What has not yet been lunch should not be referred as shitcoin in my opinion because you can tell what its market value will eventually turn to at the end of the day. But its may likely create more awareness for bitcoin and crypto currency in general and people's believe in crypto currency.

barota

sr. member

Activity: 1176

Merit: 286

This currency should not be created Because they are a risk to investors
everyone must calm down Because when you sell your coins expensive
There are novices who buy your coins and then eventually fall in value
The real value for bitcoin is 2000 usd per btc

The Sceptical Chymist

legendary

Activity: 3500

Merit: 6981

Top Crypto Casino

Quote from: CryptoBry on June 19, 2019, 12:44:39 AM

Let me surmise by saying that people who are not into cryptocurrency but can be enticed to be a part of the industry all because of Facebook's Libra will also get to know bitcoin and I guess that soon they can use LibraCoin (or whatever the final name maybe) to exchange for bitcoin and vice versa.

This is my thought also--and it may not even work out that way, either, but it certainly could.

I can't stand Facebook and won't use it, but it'll be interesting to say the least how their coin turns out, whether it gets used and if it has an overall uplifting effect on the whole crypto space. There are so many people who either don't know about cryptocurrency or know about it but don't own any that there's incredible room for growth and adoption. So I guess despite my dislike of FB, I hope their coin at least gets some people into "real" coins like bitcoin. That'd be a great thing to see.

Quote from: Kemarit on July 11, 2019, 10:59:27 AM

the US lawmakers or the Feds wanted to run a full investigation on it.

Yeah, that figures. I don't know anything about that story, but the US government is suspicious of anything that could compete with fiat. I'm actually surprised they haven't regulated bitcoin more than they have. Then again, I've always had the suspicion that it was a branch of the US government that created bitcoin in the first place.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: shield132 on July 04, 2019, 04:33:06 PM

For those who thinks Libra causes the growth of bitcoin, where was Libra when we reached 20K high? When 20K high happened? Soon after halving which caused stable 600$ which then reached unbelievable (at the moment) 1000$ price and this positive which was lit caused further rise where we finally reached 20K. Ok, imagine libra causes growth of bitcoin, you may know that there is some issue between facebook's libra and us government, what if Libra will dive and bitcoin will continue to grow?

That is right, we are already in a bull-run even prior to the announcement of Facebook rolling out their Libra coin. That's why is really it's really inappropriate to say that with all the news about it is the main driver for pushing the price higher. Bitcoin has been here, seen the worst, the only factor that can really affect the market is the supply and demand and not this so called coin.

The funny thing is when the price took a dip in the last 24 hours, media are also blaming it to Libra, because the US lawmakers or the Feds wanted to run a full investigation on it.

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: shield132 on July 04, 2019, 04:33:06 PM

For those who thinks Libra causes the growth of bitcoin, where was Libra when we reached 20K high? When 20K high happened? Soon after halving which caused stable 600$ which then reached unbelievable (at the moment) 1000$ price and this positive which was lit caused further rise where we finally reached 20K. Ok, imagine libra causes growth of bitcoin, you may know that there is some issue between facebook's libra and us government, what if Libra will dive and bitcoin will continue to grow?

Thats the time that they would say that they are completely wrong on what they do base up.It isnt really that surprising to have these kind of
assumptions specially into a pumping market.Anything can really be make as a reason even if its too lit to consider but as long they can apply something
into their analysis then tagging up things wouldnt be new.

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

For those who thinks Libra causes the growth of bitcoin, where was Libra when we reached 20K high? When 20K high happened? Soon after halving which caused stable 600$ which then reached unbelievable (at the moment) 1000$ price and this positive which was lit caused further rise where we finally reached 20K. Ok, imagine libra causes growth of bitcoin, you may know that there is some issue between facebook's libra and us government, what if Libra will dive and bitcoin will continue to grow?

STT

legendary

Activity: 4060

Merit: 1448

Its not a direct 1:1 ratio between Libra coming into view and BTC rising, markets is a cauldron of many interests and influences. Theres always a constant stream of sellers and we have to anticipate when the buyers will outnumber sellers but also in confidence between the two.
BTC is famous for selling off as weak hands drop it on selling pressure, causing sharp spikes down. All Libra has to do to raise the price is to some extent increase confidence in the whole sector and viability of online digital currency.

WE all know all Libra will not be proper crypto, its going to be quite close to Paypal from what I can see. Maybe some interesting modern advantages but mostly it wont be close to how BTC can operate anywhere without help or oversight. However perception of Libra could help Bitcoin and that might reflect in price. If the actual benefits of Libra give nothing back to BTC (in adding liquidity for example), then we will see weakness or a reversal of the positive benefits we see now.

darewaller

hero member

Activity: 2926

Merit: 640

What happened now than? I do not understand these people, when bitcoin is going up that is because Libra and facebooks power over everything in our life and they affected crypto as well (which is a total lie considering bitcoin started to go up and already did a double before facebook even mentioned libra) but when bitcoin is going down it has nothing to do with Libra.

Why is bitcoin down now then? Did libra suddenly got cancelled and facebook no longer doing it? No, they are still on track of publishing Libra on all their platforms but bitcoin is going down. Which shows you that libra and bitcoin has nothing to do with each other and from day one that connection was false, when it was going up it was harder to point out that fact but since it went down its easier to show how they are not connected.

Distinctin

hero member

Activity: 2926

Merit: 657

No dream is too big and no dreamer is too small

Quote from: sheenaedago on July 01, 2019, 09:55:49 PM

If many people will exchange this type of coin, there could be some probability if they'd have to use bitcoin as mode of payment for this. But if eth or other tradings will also adopt payment for libra, the orders will be splitted. Therefore it's not a contribution to bitcoin price growth if we rely only for libra.

This is a good possibility, although Libra is a stable coin but it could also increase the demand of crypto.
Libra/BTC and Libra/ETH and more is possible, it will be a big help for Libra's trading pair to grow more since we know how big Libra is.

sheenaedago

member

Activity: 262

Merit: 10

Quote from: Ridwan Fauzi on July 01, 2019, 09:50:22 PM

Most investors know the libra coin will be, their system is far from the system of cryptocurrency itself. They try to make cryptocurrency changing its system from decentralized to centralized system or maybe libra coin will try to distroy decentralized coin because the factor regualtion but it's never heppens. Bitcoin has grown up a few weeks ago before the libra coin will be lounched, but the rumors that spread up in some media has popping up at that time. Maybe the hype was comed by it, but it doesn't mean most investor will wait and support libra coin. More than that they only use libra coin as a way for cryptocurrency especially bitcoin be known by all people, at least most people know cryptocurrency and they will choose bitcoin.

If many people will exchange this type of coin, there could be some probability if they'd have to use bitcoin as mode of payment for this. But if eth or other tradings will also adopt payment for libra, the orders will be splitted. Therefore it's not a contribution to bitcoin price growth if we rely only for libra.

Topic: Does Facebooks's Libra cause the growth of bitcoin? (Read 1091 times)