Libra was never a threat. It was a threat to other stable coins like usdt. Is usdt a threat to Bitcoin?
I also think that Libra will not come to life. They probably wrapped up after that innitial set of hearings. They have enough money to get off the book statements from commisioners and such and i'm sure they were told there will be no green light this time.
Topic: Does Libra still pose a threat to Bitcoin? - page 3. (Read 568 times)
Tbh this is the only time I have heard of that name once more, apart from seeing it on daily horoscopes posted on several social media sites. Facebook and Libra has since quieted down once we entered 2020, and there doesn't seem to be important developments with what it offers either. Libra didn't even pose a solid threat to bitcoin either since its beginning, so the question is somewhat irrelevant IMO. If traditional companies turned down their support to Libra after receiving flak amongst the community and the masses, why would it even pose a single threat to a cryptocurrency that received numerous bashing yet stays on top of them all?
Lol! Let it get introduced to the market first - then we will think about the competition!
Libra has no qualities to qualify as a crypto part from its blockchain usage. It is similar to the CBDCs but only the issuer is not a bank! So Libra and Bitcoin doesn't belong to the same league only!
Libra has no qualities to qualify as a crypto part from its blockchain usage. It is similar to the CBDCs but only the issuer is not a bank! So Libra and Bitcoin doesn't belong to the same league only!
Well, to your question in the title — No, Libra is in no way a threat to Bitcoin. In fact, the only thing that even gave Libra the shine it had was the figure behind it - The Mark Zukerberg factor. Beyond that, Libra is just like any other altcoin. It may even end a worthless coin if care isn't taken. I know many people quickly keyed into the project, thinking it will be an instant hit because of Zukerberg's involvement. But they soon forget that WhatsApp hasn't faired any better than Telegram since Zukerberg took over it. My point is this: Libra may end up an average project if it finally gets back its footing.
I was just thinking the other day that I hadn't heard much about Libra for months, and I was wondering if the project had quietly been canceled--but I also figured I'd have seen some discussion here about that if it were the case.
I was very positive with Libra back in a few months but now they're like scared dogs not trying to sound a little long now. I don't see it being cancel at any reason.Anyway, no; I don't think Libra would be a threat to bitcoin, nor do I even think they'd be competing for the same user base necessarily. Most people who own bitcoin nowadays don't use it as a currency, but rather as an investment. And since Libra is supposed to be a stablecoin, there would be no reason for anyone to own it as an investment. They'd be using it as a currency for whatever Facebook intended them to use it for.
I haven't searched the internet about Libra lately. Has there been any news or developments?
It does not contain any threat at all, not any new born altcoins will be able to possess threat against bitcoin. If there is a coin that has a potential to compete with bitcoin that would be Ethereum, coz ethereum is used for making dapps, so maybe in the future we are going to experience more ethereum based platforms like digital payments. Or Bitcoin Satoshi Vision, or Bitcoin cash who knows these coins are pretty exciting lately this month. I haven't searched the internet about Libra lately. Has there been any news or developments?
Is that a serious question? Bitcoin is:
(source)
Libra is...Well, the opposite
Wasn't Libra supposed to compete against the big banks and whatnot?
(source)
Libra is...Well, the opposite
Wasn't Libra supposed to compete against the big banks and whatnot?
Do you think Libra will be a serious threat and competition for bitcoin?
This is the statistics from Statista
Quote
Market leader Facebook was the first social network to surpass 1 billion registered accounts and currently sits at almost 2.45 billion monthly active users
If Facebook has 2.45bn userbase and their data it'll become easy for them to be the early adoptor of Libra. We, know when demand for Libra increases it'll increase its brand and its value.
I have read only little about Libra coin to know enough about it does hold a challenge to Bitcoin.
If it's about publicity Libra would get it, with its link with Facebook knowing Libra wouldn't be hard. But Bitcoin and Libra has different path way non the less they are cryptocurrency
If it's about publicity Libra would get it, with its link with Facebook knowing Libra wouldn't be hard. But Bitcoin and Libra has different path way non the less they are cryptocurrency
Libra will never exist in the form they're proposing. No government would let third parties with user bases of billions blow their own currencies apart. If it ever does emerge it'll be a watered down bitch that does their bidding.
If it ever did emerge in the form originally proposed it wouldn't be a threat to BTC. It is just as vulnerable to the weaknesses of fiat currencies as its value is derived from them, but it's vulnerable to more of them.
If it ever did emerge in the form originally proposed it wouldn't be a threat to BTC. It is just as vulnerable to the weaknesses of fiat currencies as its value is derived from them, but it's vulnerable to more of them.
I was just thinking the other day that I hadn't heard much about Libra for months, and I was wondering if the project had quietly been canceled--but I also figured I'd have seen some discussion here about that if it were the case.
Anyway, no; I don't think Libra would be a threat to bitcoin, nor do I even think they'd be competing for the same user base necessarily. Most people who own bitcoin nowadays don't use it as a currency, but rather as an investment. And since Libra is supposed to be a stablecoin, there would be no reason for anyone to own it as an investment. They'd be using it as a currency for whatever Facebook intended them to use it for.
I haven't searched the internet about Libra lately. Has there been any news or developments?
Anyway, no; I don't think Libra would be a threat to bitcoin, nor do I even think they'd be competing for the same user base necessarily. Most people who own bitcoin nowadays don't use it as a currency, but rather as an investment. And since Libra is supposed to be a stablecoin, there would be no reason for anyone to own it as an investment. They'd be using it as a currency for whatever Facebook intended them to use it for.
I haven't searched the internet about Libra lately. Has there been any news or developments?
Croatian bitcoin portal published a very interesting thinking by academics and economist John Vraz on this topic.
Source: https://crobitcoin.com/predstavlja-li-libra-i-dalje-prijetnju-bitcoinu/?utm_source=email&utm_medium=newsletter&utm_campaign=news
Vraz believes that LIbra will become a very serious competitor to bitcoin.
He believes bitcoin has problems as a means of payment and that bitcoin is disproportionately used as a speculative instrument.
in contrast, Libra was built with the intention of scaling as a payment net.
Vraz: ''The differentiation of the assets on which libre stability is based is a key factor for the performance of the currency''.
FB has a large user base and therefore a large initial range.
Vraz: ''Bitcoin and other cryptocurrencies threaten to undermine banks' control over cash supply. This deprives them of the ability to create imaginary leverage in the economy, because in assets like Bitcoin, money cannot be created without cover''.
"Banks can borrow "same" money up to maybe eight or nine times in the partial reserve banking system. Thus, a lot of banks are creating a massive offer of money in the system of fractional reserves. With Bitcoin, you can't borrowing what you don't have.
Very interesting thoughts from Mr. Vraz. What do you think of his ideas?
Do you think Libra will be a serious threat and competition for bitcoin?
Source: https://crobitcoin.com/predstavlja-li-libra-i-dalje-prijetnju-bitcoinu/?utm_source=email&utm_medium=newsletter&utm_campaign=news
Vraz believes that LIbra will become a very serious competitor to bitcoin.
He believes bitcoin has problems as a means of payment and that bitcoin is disproportionately used as a speculative instrument.
in contrast, Libra was built with the intention of scaling as a payment net.
Vraz: ''The differentiation of the assets on which libre stability is based is a key factor for the performance of the currency''.
FB has a large user base and therefore a large initial range.
Vraz: ''Bitcoin and other cryptocurrencies threaten to undermine banks' control over cash supply. This deprives them of the ability to create imaginary leverage in the economy, because in assets like Bitcoin, money cannot be created without cover''.
"Banks can borrow "same" money up to maybe eight or nine times in the partial reserve banking system. Thus, a lot of banks are creating a massive offer of money in the system of fractional reserves. With Bitcoin, you can't borrowing what you don't have.
Very interesting thoughts from Mr. Vraz. What do you think of his ideas?
Do you think Libra will be a serious threat and competition for bitcoin?
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