Topic: Does Facebooks's Libra cause the growth of bitcoin? (Read 1100 times)

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

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

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.

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.

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.

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

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.

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.

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.

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?

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.

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.

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

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.

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.

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.

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.

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?

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.

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.

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.

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.

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.

As mentioned libra doesn't have anything to do with the growth of bitcoin. All that we experience with the increase in the price of bitcoin is the real growth that is due to the investors who made the market grow and further kept the growth alive with continued investments. Libra being a stablecoin isn't a big deal, can see more marketplace to accept libra keeping its circulation big. Now bitcoin has fallen little ad this too is of the investors who take back the funds causing a drop in the market capital and not the fading of the news relative to libra.

No, I dont think so.
Before I think it did but not now anymore.
It might have open some light for some people who dont know about bitcoin but it is not really the main reason of all this hype that is happening.

The world is just changing.
Some people might have seen there is no movement with banks and just decided to invest into something new.
Those some people could be rich and are now buying to keep it for future needs.

I don't think current bitcoin growth due to Libra coin. Because bitcoin start bull run before Libra rumours (IMO). But likely Libra could reflect positive impact on total crypto-currency markets, just not only on bitcoin. Look like new investors coming into on bitcoin and that's the main reason of current bitcoin run. Libra would encourage to use crypto especially to all Facebook user. So its obviously a positive for crypto but not the cause of bitcoin growth IMO.

There's no concrete information about that and even there's slight help coming from this new project it's still the end users who push the value up, maybe some of them are spectators for Libra project and just getting use for Bitcoin so they are beginning to buy bitcoin while waiting for this project.

The facebook libra coin will influence people to make use of crypto currency. There are many people who uses facebook but they never heard about crypto. But now by this facebook coin everyone will begin to talk about crypto and those who have less or no knowledge will start studying on it. In this way new money will come in crypto which will overall increase the marketcap of crypto currency.

This getting a bit tiring to talk about the same thing over and over again. Libra is not even out yet and most of the people in crypto world see it as a bad thing because we are the type of people who are against the establishment and we would like to create an alternative reality of our own and even did it for financial world and you are here talking about facebook a huge social media conglomerate is actually causing the price uptick.

This is getting moronic, I am seeing more and more idiots in crypto every single day, not just regular bitcointalk users by the way I am seeing more morons on news and other places as well, I don't know the reason why they are suddenly talking about crypto or what draws their attention to crypto topic but somehow they are getting more in numbers.

So can we say that because of this news https://www.itpro.co.uk/policy-legislation/33865/facebook-libra-news dated 20th of June regarding Libra be halted reason that bitcoin price decline as well? When in fact that during that time it was given the price of bitcoin goes uptrend even Libra might face an issue and is called to Senate Banking Committee this coming July. So, in my opinion, there's a little chance that Libra hype is not the cause of Bitcoin uptrend price.

Crypto noobs simply can't put it in their heads that Bitcoin rises because of speculation, they always try to find some "logical" reason behind the growth, because to them speculation sounds too simple, inelegant and probably most of all - scary. Scary, because to acknowledge speculation would in their minds mean that nocoiners are right when they call Bitcoin a "gambling device" with no intrinsic value. But they are wrong, because speculation is just price discovery on a free market, there's nothing bad about it.

Libra is just the latest on the list of noob's reasons for Bitcoin growth, usually it's economic problems in some countries or on stock markets, political instabilities and so on.

Libra could have an affect on the late stuff but remember bitcoin started going up before libra started. I personally think that it should be creating this new wave of people interested in bitcoin but only after Libra is a reality and everyone uses it, not right now. Right now, people know that Libra will come out and those people are already crypto currency people because facebook is not making any marketing or advertisement efforts for something they haven't even published yet.

When libra comes out they will advertise it and they will have a huge marketing budget and everyone will start to use it and then maybe move to crypto currencies as well however until it is not even published there is no way it affects bitcoin at all, in couple years sure but now I doubt so.

Everytime the price pumps it doesn't have that we faced the same reason for that.
Also 2017 was a totally different year that today. You cannot compare the price that happen in 2013 with that of 2017 and so on. Libra is indeed a reason that we are pumping now.

I believe that people should be thinking that as facebook has many users, these users when they come in contact with Libra they will be curious to meet bitcoin too. But Libra is already generating a lot of noise by the authorities

Singapore Central Bank: Concerns Over Facebook’s Libra ‘Not Trivial’

House Reps Question FinCEN Director on Libra’s Potential for Illegal Usage

French Central Bank: Facebook’s Libra May Need Banking License

I don't know if the cause of the altcoin has risen because of the birth of a new coin called libra, but I have read a lot that this coin released by Facebook has an important role in rising altcoin prices but I have not found the exact reason they stated this statement, maybe  experts know better

Facebook is working for there customers but mainly to profit from them. There second coin next to it make them the profits they cant take from the stable facebook credits. Google: Libra Investment Tokens

so if people will buy more libra coin and  will get hype in no time  but what will be its connection with bitcoin ?  facebook coin will have a major impact on cyptocians yes thats true because this coin is not just an ordinary coin but it came from the biggest social media platform which was facebook  .

  bitcoin can increase and grow on its own without the influence of other coins but other coins cant grow without btc , that is for sure since there is no way to directly purchase other coins without obtaining a btc first  .

Maybe because libra will be hype when it will launch. Facebook coin have a big impact so cryptocians that's why it will be have big impact too in bitcoin. It's either bitcoin will increase or drop little bit because of that Facebook coin. Let's see how it goes this trend situation.

I will not be connected but it can definitely bring more people to the cryptocurrency market.
Libra is going to be trusted from people who trust in centralization. Having said that, they will be slowly be inolved in cryptos and they will see directly the benefits of holding Bitcoin or any other already established cryptocurrencies.

At best

no one outside of the libra consortium is going to trust libra (and likely inside)

Alipay, Tencent or whatever will need a bridge to them ....

Large transfers between various systems will need to be done through a trusted zero counterparty risk with market depth .....  can any one say bitcoin....

I see that libra will somehow become associated with a BTC holding company to allow low friction to BTC then those that want withdraw to their private wallet.

So its hard to see how libra will not help BTC and be a massive on ramp,

Plus BTC has near a decade head start and a lot of dev and infrastructure in place.

Don't overthink it too much, Bitcoin has been bullish since April of this year, was Facebook responsible for that? Was Facebook responsible for Bitcoin doing a 2x in 2 months? Of course not and it is not responsible now. Libra was announced several days, weeks ago and Bitcoin didn't really react to it at all, why would it go up today and yesterday if it was caused by Facebook?

I don't think so.
as a matter of fact I do believe that Libra can in some cases even cause bitcoin price to drop because I am sure that Facebook, knowing their shitcoin has no real future, will try to spread FUD about bitcoin and even do things against it and prevent its adoption. they may even fund spam attacks and other types of attacks against bitcoin to prevent bitcoin's growth with a healthy network knowing bitcoin's growth is their death. and we all know they have billions to spare for this project.

I don't want to believe that it was just a coincidence, the timing of facebook announcement clearly have a good effect on crypto overall, of course especially in Bitcoin as it's the one who benefited a lot with a god increase. FB being here in crypto is an adoption, they adopted and with their adoption, that would also bring more adoption from their users and potential users.

why call them expert if they are sh*t ? but they are still people no matter what college degree they reach no one can still speculate the flow of the cryptocurency correctly  . you cant called libra coin a sh*t coin because it has not been released yet but i have a feeling that the coin is good because it is backed by solid team  .  they are could also be right that libra coin can be a reason of the growth of bitcoin because more people will enter the crypto scene if facebook will market thier crypto on thier own platform  . people will also easily notice bitcoin if they are already familliar on what is crypto  .

they're IOUs just like tether---issued and redeemed by a central entity. also like tether, they are tokenized on a blockchain, so they can be held in a cryptocurrency wallet and sent p2p.

however, this blockchain differs in that it's some sort of private/permissioned blockchain. consensus will probably be federated among a few large stakeholding entities, unlike bitcoin with its decentralized mining consensus.

Those experts are also shit the same into their own view about Libra coin is the cause of such price increase.

I don't know on where they do get out that idea.Lets say that they do launched up a centralized shitty coin
but it has nothing to do with bitcoin actually.

Facebook libra is centralized coin with censorship and lot of restrictions libra is of no comparison with bitcoin or crypto currencies growth both are independent coins launch of libra and bitcoin bullish growth

I think it has nothing to do with libra, we have been going up for a long time now and not just recently, I know people are new in bitcoin but I have been around for 5+ years and I have seen these things happen before, any new coin that is coming up even if its a big one wouldn't matter to bitcoin since it has its own market different from others.

Libra is making a market and that is great for us because it could have a strong community behind it that will support a crypto currency and has a general affect to everyone but not directly to bitcoin. This increase happened way before Libra was announce and even before people knew facebook was interested in crypto the price went from 3k to 7k which means there is a bull going on and then of course it went on to be over 9 thousand but that could be considered the tail end of the hype and not because libra.

No. I highly doubt any correlation between a centralized project that FB has to offer, and something that is decentralized from day one in BTC.

Especially when you consider the fact that bitcoin dominance has actually been increasing over the past few months, instead of the normal trend of decreasing as we see a bull market emerge, further suggesting that people are moving towards investing into decentralization.

I simply hate it when people try to attribute BTC's price movements to completely uncorrelated institutional events, ranging from the stock market, to JPMorgan's own coin, and now FB's project. The biggest factor is still the cycles within the BTC network itself, as well as the fundamentals that shape demand, including the health and development of the network (LN), and institutional interest.

Jesus, I get that FBcoin is a big thing. JPMCoin should be ashamed they didn't get this kind of traction, but then again Zuckerberg went full on brown-nosing for months with all the big bankers before putting FBCoin out (yes I know what it's actually called).

But come on, altcoin causing Bitcoin to grow? Really? More like Bitcoin caused Facebook's crypto to grow. I know people (rightly) think this is big for crypto but Bitcoin, not crypto.

This isn't wrong,  according to my case.
Many of us can witness that the price rise took place because of Facebook.
Because of Facebook the trading volume of many coins including BTC has increased a lot.
Hope you understand this now and Good luck to ourselves.

They would be using web wallets in any other way. The difference is that is much more likely that Facebook blocks their access due to censorship, than any of the other options. And when Facebook starts blocking wallets, they will look for a currency which wont do that, and thats bitcoin.

You cant expect the brainlet majority to run full nodes. They will be using web wallets, SPV wallets, or some digital bank like BAKKT for example. They dont want the risk of not being able to recover lost passwords, so they will always delegate responsibility to another party.

The good thing is that the price will go up due to demand, thats what matters. Facebook censorship will work for bitcoin advantage.

Just imagine introducing the 2.2 billion users Facebook has on the crypto market by the use of Libra. Not all Facebook users are into crypto and most of them don't even know what cryptocurrency is. Once Libra is fully operational with Facebook its inevitable for its users to be introduced on to other coins as they will be exposed  with their first cryptocurrency. Just like what Bitcoin did to me which made me curious to other altcoins in the market. It feels like it's the same scenario but with a different cryptocurrency and with a bigger audience.

but will they even own "coins" in a cryptocurrency wallet? or will it be some IOUs on a website account they open up with this company?
as far as i understand it, the design is the later. like a bank account that your money is in full control of the bank or your paypal account with balance.
in which case there will be no effects on anything even for nocoiners! in fact it may even be damaging because it can make them think that is how bitcoin works too and end up using web wallets like coinbase!!!

Libra is a good entry point for nocoiners.

The cuckold mentality of most nocoiners will only accept crypto as legit when some authority enforces it. Although Facebook clearly states the adoption of Libra is voluntary, for the nocoiner it will look like a enforced thing, as they live in a mental prison, and love to have stuff enforced upon them. Such is the way of the brainlet majority.

Although Libra is not a cryptocurrency, its being labelled as such, which might make the nocoiner have some curiosity over bitcoin. Lets say he get some rudimentary comprehension about the true value of bitcoin, and then decide to use it a little. Facebook censorship might help in this respect, with the nocoiner noticing such censorship doesnt exist with bitcoin.

This is much better than explaining to these brainlets what bitcoin is. Seriously, someone need to have a lot of patience to explain to boot-licking nocoiners what crypto is. You need to have the patience of a tibetan monk to be able to deal with the nocoiners. Much better to have Libra explain it to them, although in a distorted way. It will not hurt bitcoin, after all.

I don't think it will be like the usual ICO/IEO project that will have an airdrop or bounty. They don't need any advertisement because facebook is already big.

About the ANN thread, not sure if this is official --> https://bitcointalksearch.org/topic/ann-libra-simple-global-currency-reinvent-money-by-facebook-5154522

of course not. bitcoin has been in a strong uptrend since last december. it basically tripled in price before facebook's coin was ever publicly announced. the libra project might create some new hype around crypto and bitcoin (because of the public's sheer ignorance) but it's definitely not behind bitcoin's overall bull trend.

this is a theory, there is no logical connection between what can be and what will really be.
While striving, I can't find any connection between what facebook can bring to bitcoin, they are the antipodes on every verse.

Why should I switch to facebook and then switch to btc? above all, will there ever be a connection point between the two? I have many doubts about it

Who really cares?  At the end of the day it is all about hype and marketing.  Its why we have terrible car brands that cost 100 thousand for a piece of junk that needs constant repair or 300 dollars for a pair of shoes that costs a couple of dollars to make.

When will have a ANN for this so called Facebook coins, also can we have a airdrop or bounties or something to earn some free coins? Or you can mine it.

Libra could be a booster to allowing people to use a cryptocurrency as a day to day element for their financial trades and transfers, presumably with ease of use, speed of TX and very low to null transaction fees. Their goal is likely to extend it’s use way further than the Facebook ecosystem, and the current (growing) list of integrands of the Libra Association seem to hint this, due to their diversity and areas of business. Currently, the Libra Association is integrated by (see https://libra.org/en-US/white-paper/#introducing-libra):

All that whilst being a sort of stablecoin, although with some margin for fluctuation:

Fine, there is all the centralization to it, the fact that it is linked to commercial entities (which makes one shiver considering how TX data may be used), the non-anonymity, etcetera. In a sense, it will (likely) beat Bitcoin to some of the goals it set out to meet, such as being an extended payment method. Bitcoin is still heavily a store of (speculative) value, and has many operational drawback to be widely used yet for day to day purchases.

Really, Libra is not anything like Bitcoin, but the use of a crypto in a potentially ample scenario could easily draw more interest of people to the cryosphere, perhaps rather more from the utility point of view than a speculative one, but there are common vessels.


Edit: Democrats (Maxine Waters) reacted swiftly to the announcement:
https://www.theverge.com/2019/6/18/18684268/facebook-libra-cryptocurrency-stop-congress-house-democrat-maxine-waters-regulation
Looks like no explicit regulation -> no Libra.

It is possible if Libra listed on exchanges and FB users must go through an exchange to buy Libra. The FB platform has a lot of users in the world if Bitcoin can reach these users. This will be a great success. Will help the market have more new investors, and the price of Bitcoin will increase rapidly because the number of investors increased sharply.

In my honest opinion about Facebook Libra, It is a stable coin and I stay away from all stable coins that are in sheep's clothing pretending to be a cryptocurrency and decentralized,

Well, this stable coin, if I am correct, will be launch in the year 2020, And even though Libra will have its own value it is still a stable coin that I can not fully trust to make an investment with, It is still profitable to invest with bitcoin and nothing more.

I don't think it will have a significant effect on bitcoin's growth. You said it's a shitcoin then how will it impact bitcoin? The only thing it can bring is hype around crypto itself, but it doesn't mean Facebook users will suddenly engage themselves and purchasing bitcoin or any other cryptos.

agree, libra won't require any effort from new users, they will get native wallets on apps they already know. we saw something similar happening to internet explorer and msn in the past... this will open minds to crypto and bring people to other coins, I guess.

There's a tag 'crypto' to their coin.

Whereas people think that it's good to buy such coins that's backed up by a real company. While having that kind of tag, it's already in the minds of the people that whenever they see 'crypto', bitcoin is always the first thing that comes on their minds. And another what if, facebook is buying bitcoin?

Facebook jumping on the crypto bandwagon gives other cryptocurrencies a chance to grow tremendously as other investors get to know about the blockchain and cryptos...and get an opportunity to invest in other coins to expand their portfolios.

You are right, unless facebook chooses to only accept fiat as a way to buy Libra, Bitcoin remains a beneficiary in this new coin as demand will skyrocket as investors try to buy the Libra coin.

If a large number of thousands of years begin to buy cryptocurrencies, it can be a problem both for the market and for profit. Many newbies do not study crypto investing, they want results. But immediately investing is short-sighted, it is better to get at least basic knowledge, for example, taklimakan offers educational articles. And only then try cryptocurrency. Since, like a sharp increase, we can expect a sharp decline due to the number of unsuccessful transactions on the part of beginning investors

The forecasts for the cost of Bitcoin that were made at the beginning of the year were not deceived. Bitcoin really almost took the position of 10,000 by mid-summer. In a place with the release of the libra koin, this can give an impetus for young people to start using cryptocurrency.

The new wave of investors can not only improve the situation on the market, but also serve as a trigger for mass attacks on wallets and stock exchanges. Therefore, you should be even more attentive.

I say yes. The big FB starts to enter the digital currency and that demonstrates the blockchain will have a future.

When such large companies as Facebook enter the cryptocurrency market, it stimulates the interest of users who have not previously used crypt, but want to invest in the project

Well assuming a large portion of Facebook's users actually use Libra, it will literally bring crypto to the mainstream. Crypto has always come with a stigma, and this might give people the chance to see that it's only as harmful as its user wants it to be.

That being said, I don't even think Libra will do well.


Libra.

Can the launch of cryptocurrency Facebook can be a factor for the growth of Bitcoin? It is not excluded, since investments mainly in large currencies are made using Bitcoin. And I think Facebook is no exception.

There's a lot of names running around right now. Some people say that Facebook's crypto money is called Libra. The rest is Globalcoin.!

Can someone explain which one is right?

at the moment I see nothing positive. what is the real purpose of this coin? We should concentrate on giving an answer to this question, to then really understand why this currency is born. It is not enough to write on blockchain four data to define it as a cryptocurrency. I consider it garbage, but it does not mean that it will not spread and will not have a noticeable impact on the entire ecosystem, but it will still be junk.

If the consent and the issuance of money is in the hands and in the decisions of third parties, then we can define it in no uncertain terms SHITCOIN

regarding the thrust that this could give to cryptocurrencies, I believe that the impact is certainly positive but in irrelevant percentages

It could be a return to the growth of bitcoin, and it is not likely that a large company does not follow Facebook's footsteps to make its own coins, I recently heard that the Samsung business will also make a breakthrough to make coins like Libra, and nothing is impossible if it will affect the growth of bitcoin in the future, what's more there are big companies in the world ..

And of course all that requires the existence of blockchan technology that is almost widespread out there, even a few large businesses have already used it, and not mere nonsense, if bitcoin will go back to grow to be bigger than before ..

First, am not a spokesperson nor am I campaigning for Libra the cryptocurrency/blockchain project spearheaded by Facebook but first and foremost judging by the enormous resources and the personalities behind this project and considering its immense potential even within the ecosystem controlled by Facebook itself, calling it at this juncture as a "shitcoin" is premature. I am sure that if Libra is going to be successful, Mark Z. and his minions would be laughing to be bank enjoying their "shitcoin" but then again the marketplace can be full of tricks...what if no critical number of people or organizations will adopt Libra...then maybe you can be right with that label.

Now, how will the success (if you are proven false) affect the growth of bitcoin? 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. In other words, Libra can be a catalyst for more people to get engaged with cryptocurrency and soon these people are gonna appreciate bitcoin too.

Not the Bitcoin itself but the technology behind it  (Blockchain Technology).
If we talking about the price of Bitcoin YES MAYBE look at to the JPM announcement happened last February there's a sudden growth of Bitcoin price. Check out here : https://www.bloomberg.com/news/articles/2019-02-19/bitcoin-gets-delayed-boost-from-jpmorgan-s-embrace-of-crypto , maybe it will happen again

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?