Facebook coin is not a threat for Bitcoin

mammoniter

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Quote from: Hiluxury Bitcoin on June 22, 2019, 03:44:16 AM

Hello everyone so now i want to share a very good information with that the facebook community says the the price of facebook will be stable like a USD so its mean that there is no threat for bitcoin because all investors want that they gain more profit in short time that is why they invest their money in bitcoin because the btc price is fluctuated and for good investment need the unstable price.

Its actually a long shot that facebook coin will be a threat to bitcoin. In fact no one thinks about it actually. If it will be a stable coin then it will not be profitable just like other crypto but its safer because you can minimize your loss. Its always a good thing when popular companies like facebook are trying their way into crypto. Its a good development. Hope other companies will do the same thing.

CryptoGosu

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I also think that Libra is not a competitor for Bitcoin. These two cryptocurrencies will be very different from each other. Libra has a high dependence on fiat.

freedomgo

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Quote from: tenebriscaelum on June 30, 2019, 06:40:15 PM

As Libra is targeting to be a mobile bank for millions of people, I highly doubt that it will not be a stable coin. As people will not accept a currency that fluctuates more than 10% its price. Being a stable coin will make sure that their altcoin will be used be consumers, which will not affect the price of BTC.

Because this is really a stable coin, the price is stable regardless of the movement of bitcoin.
The possible adoption of Libra is huge, and this possible users of Libra could also be introduce to become a bitcoin users and investors, that's the potential I see once the project is launch.

samputin

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Quote from: Distinctin on June 30, 2019, 06:12:47 PM

Quote from: Loedong on June 30, 2019, 05:42:26 PM

[snip]

But I think it won't be that influential. Though we can't say that Facebook coin is a threat for Bitcoin but it possibly be considered as a competitive coin in the future. We know how Facebook itself known to everybody and some instances that people will choose this base on popularity. ut taking into the account of being a threat with BTC, I've never seen it.

I do agree with you mate, I only see Libra as a threat for Bitcoin in terms of popularity as well, that's all. However, they are still on different worlds (since Libra was still considered centralized) so making comparisons between them are not totally necessary at all. I admit that Libra could have a very bright future, C'mon! Just imagine the social influence of FB but on the other hand I don't think that it will greatly affect btc's price and reputation because it still got an edge especially about anonymity feature and fluctuating value of course.

For now, I haven't foresee a deserving competitor to beat bitcoin down. I still doubt to Libra for doing that because even the closest long time rival coin of btc which is eth was still no match until now.

tenebriscaelum

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As Libra is targeting to be a mobile bank for millions of people, I highly doubt that it will not be a stable coin. As people will not accept a currency that fluctuates more than 10% its price. Being a stable coin will make sure that their altcoin will be used be consumers, which will not affect the price of BTC.

slashz9

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I don't think anyone says Facebook coins are a threat to BTC, because it will be a stable coin so that it will not affect Bitcoin as a means of investment.
but in paying metode i think facebook will take demand on this.

Mianae

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No altcoin can be threat to Bitcoin. Let's see Btc as the foundation other cryptocurrency stands. Foundation of a house carries every other segment of the house. Fb coin is to be used on facebook platform Btc is a mode of payment across different networks.

Slark

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It is strange that someone thought that this coin could harm the reputation of bitcoin. Bitcoin continues to be the king of the crypto market.

Distinctin

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Quote from: Loedong on June 30, 2019, 05:42:26 PM

as far as I know, until now there are no other altcoins that are a bitcoin threat. bitcoin is still a bitcoin, it cannot be compared with Facebook coins. then how can you speculate that Facebook coins are a threat to bitcoin? while they are still new and not even released in the public. I think if later Facebook coins appear more influential on user adoption.

But I think it won't be that influential. Though we can't say that Facebook coin is a threat for Bitcoin but it possibly be considered as a competitive coin in the future. We know how Facebook itself known to everybody and some instances that people will choose this base on popularity. ut taking into the account of being a threat with BTC, I've never seen it.

Twinkledoe

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Quote from: klaaas on June 30, 2019, 05:49:03 PM

Quote from: kaka manteng on June 29, 2019, 10:48:22 AM

very agree ... because facebook coin has never been in circulation and in any market ... so we have never known how the durability and strength of the coin ...

Facebook credits is pegged to fiat currencies and the ultra rich providing the bags of cash. Sure it will be strong enough as long as the node gang wants.

FB coin will never be a threat to bitcoin. If users will only be educated about the differences of libra vs. bitcoin, I bet in the end, they will choose bitcoin. Who would want to expose their identity to these big companies that are in partnerships with libra coin? I sincerely think that those partners will have access to most of the financial transactions of their users. Privacy is at stake with this coin.

klaaas

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Quote from: kaka manteng on June 29, 2019, 10:48:22 AM

very agree ... because facebook coin has never been in circulation and in any market ... so we have never known how the durability and strength of the coin ...

Facebook credits is pegged to fiat currencies and the ultra rich providing the bags of cash. Sure it will be strong enough as long as the node gang wants.

Loedong

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as far as I know, until now there are no other altcoins that are a bitcoin threat. bitcoin is still a bitcoin, it cannot be compared with Facebook coins. then how can you speculate that Facebook coins are a threat to bitcoin? while they are still new and not even released in the public. I think if later Facebook coins appear more influential on user adoption.

Aryleeto

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Quote from: Hiluxury Bitcoin on June 22, 2019, 03:44:16 AM

Hello everyone so now i want to share a very good information with that the facebook community says the the price of facebook will be stable like a USD so its mean that there is no threat for bitcoin because all investors want that they gain more profit in short time that is why they invest their money in bitcoin because the btc price is fluctuated and for good investment need the unstable price.

I do not think all the coins that are issued after bitcoin are altcoins , and it is unlikely that they will be able to replace bitcoin , but a worthy place in capitalization can take!

BigBrother

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I don't think this coin ever posed any threat to bitcoin. Even if it was not stable, bitcoin would not be affected. Still, everyone would also continue to buy bitcoin.

Rana590

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Day by day many coins are listing but bitcoin will be unbeatable. It is the world's best popular crypto currency. Facebook coin won't be able to beat bitcoin. I am also thinking that Facebook coin libra will be a stable coin where bitcoin is not.

joinfree

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I have never had it in my slightest imagination that Facebook coin was ever a threat to Bitcoin. Facebook coin might have the hype and the publicity but i bet if crypto investors would invest into such a cryptocurrency. Most altcoins usually end up as a useless coin and facebook coin could be on the list. Investing into BTC has always been the best choice.

PuertoLibre

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Quote from: gunhell16 on June 29, 2019, 12:45:02 PM

Facebook coin or should we say LIBRA will never be a threat for bitcoin.
IT is a bog support for BTC and the cryptocurrency.
The movement is getting better and with LIBRA, there will be a huge acceptance.

It will surely increase the awareness but Facebook as a social media can use its power for centralising the whole crypto market. Traders will use the alternative stable coins instead of Libra coin. In my opinion, the advantages of Libra will not surpass the value of Tether.

Gaggy185

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Quote from: Hiluxury Bitcoin on June 22, 2019, 03:44:16 AM

Hello everyone so now i want to share a very good information with that the facebook community says the the price of facebook will be stable like a USD so its mean that there is no threat for bitcoin because all investors want that they gain more profit in short time that is why they invest their money in bitcoin because the btc price is fluctuated and for good investment need the unstable price.

I think the Libracoin is different from the Bitcoin so that the appearance of Libracoin will help the cryptocurrency market improve and recover in the future. Libracoin is the lever, attract the other company to release coins in this market.

Soots

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Don't think of negativities on new upcoming coin of facebook, we're being paranoid all over current speculations. Just let it go and let libra do their part as a team, because in crypto freedom is the great way to express how people really trust a certain decentralized currency. The future can decide, and if some would prefer to say this coins could be a threat then so be it.
Bitcoin is a stablished cryptocurrency, I don't think facebook coin can do the history of using bitcoin to buy a pizza hut. Reality will open your mind, don't trust quickly that's very important.

mr_random

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The biggest threat against Bitcoin is the centralisation and it will be a huge barrier for the development of crypto industry. After the introduced Facebook coin, conditions are changed badly but it only offered one advantage to the cryptocurrencies: Faster mass adoption.

Topic: Facebook coin is not a threat for Bitcoin (Read 4220 times)