Facebook coin is not a threat for Bitcoin - page 5.

emberbekas

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Quote from: LogitechMouse on June 22, 2019, 03:53:25 AM

At first place, who said that it is a thread for Bitcoin Cheesy

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I think that Libra coin is just another altcoin that will help to spread the knowledge regarding cryptocurrency. Since this is Facebook coin and many are using Facebook around the world, many will become curious about it and will do some research on it then they will decide if they will invest or not.

Libra will help to spread cryptocurrency awareness throughout the world. At least that is the good thing so far from libra to the crypto world. Meanwhile, we don't need to worry about Libra being a threat to the existence of bitcoin. There are already lots of alts out there and bitcoin is still unshakeable!

Sithara007

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Quote from: Distinctin on June 23, 2019, 10:21:08 PM

Libra is a stable coin, right?

What are the reasons why people choose this coin over bitcoin when they've seen how profitable bitcoin is.

Check my previous post. Libracoin is not a stable coin. They are claiming that it will be backed up by real assets (such as cash and bullion) and the exchange rate will be determined based on the supply-demand equilibrium. Considering the fact that many of the tech giants are supporting this coin, I assume that it will be able to attract many hundreds of millions of users. At the same time, they are saying that this coin will be available only in those jurisdictions where cryptocurrencies are legal.

Distinctin

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Quote from: seoincorporation on June 23, 2019, 10:17:38 PM

Quote from: Hiluxury Bitcoin on June 22, 2019, 02:44:16 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.

Not a threat but it will be direct competition and not only for btc, because some people will sell their coins to jump on the libra, maybe they will not sell all, but at least will be a market with a nice revenue.

To be clear, it will not stop bitcoin, it only will run on its own side.

Libra is a stable coin, right?

What are the reasons why people choose this coin over bitcoin when they've seen how profitable bitcoin is.

seoincorporation

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Quote from: Hiluxury Bitcoin on June 22, 2019, 02:44:16 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.

Not a threat but it will be direct competition and not only for btc, because some people will sell their coins to jump on the libra, maybe they will not sell all, but at least will be a market with a nice revenue.

To be clear, it will not stop bitcoin, it only will run on its own side.

samcrypto

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Quote from: Payme21 on June 23, 2019, 04:20:11 PM

Facebook coin (Libra) was never going to compete with bitcoin because it's a stable coin. It will take much more than just this to unsit bitcoin

Indeed, a stable coin can't compete to a coin that can move up high easily and beside from being a stable coin Facebook coin is centralized and right now they are facing a big pressure from the US Government so investors will have doubt now if its continues to become a problem. Adoption with cryptocurrency is good, more companies will go and compete with each other but they can't create a threat to bitcoin because its a strong coin and many investors will backed up bitcoin.

ttcsalam

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Quote from: Hiluxury Bitcoin on June 22, 2019, 02:44:16 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.

Bit coins are currently successful in the market. And Facebook is successful on their social side. So I do not think there is any comparison with the other. So one platform can never get overnight in other platform. If the Facebook comes in the market and they will take a lot of time. To go to a place like Bitcoin.

Sithara007

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Quote from: Hiluxury Bitcoin on June 22, 2019, 02:44:16 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.

When you make this sort of post, please back it up with some source. You just can't use this sub-forum to paste your random thoughts.

From what we have heard, the Libracoin (FB Coin) will be backed up by real assets and its exchange prices will be determined by the market dynamics. Now that goes against your claim that it's exchange rate will be pegged against one of the major national currencies. You can check this source:

https://www.ft.com/content/af6b1d48-90cc-11e9-aea1-2b1d33ac3271

Quote

Libra will be backed by a pool of currencies and assets stored around the world. It will not have a fixed exchange rate against any one traditional currency, such as dollars and euros, though it will not swing as wildly as cryptocurrencies such as bitcoin.

Bobby park

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I think there's no reason why we should worry about the developing coin by Facebook because it is not a big threat to Bitcoin. I other words it can't be affecting the whole history of Bitcoin price so however if Facebook should have a great development about their coin it would probably help Bitcoin not to threaten.

rodel caling

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Quote from: Hiluxury Bitcoin on June 22, 2019, 02:44:16 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.

Facebook coin is not a treat for bitcoin, my reason i can analyzt facebook as popular social medias company use worldwide it bring it to the whole crypto to introduce and encourage to all people to invest in bitcoin or crypto by the help of this new facebook coins.

Payme21

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Facebook coin (Libra) was never going to compete with bitcoin because it's a stable coin. It will take much more than just this to unsit bitcoin

boyptc

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Quote from: ginobitcoiner on June 23, 2019, 04:32:56 AM

Since I learned about Facebook's plan to launch cryptocurrencies I never thought that it would be a challenger to Bitcoin.
no matter how good Libra is it won't make bitcoin number 2 on cryptocurrencies.

It won't be just enough to make bitcoin the 2nd crypto in the bitcoin, bitcoin will always be the top crypto of all.

You just can't compare centralize and decentralized cryptocurrency.

muratsink

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in my opinion, BTC investment to take a profits. and Libra investment to save assets. but everything is my choice, including gold is also my investment choice, but now I prioritize BTC and ETH. and Libra is part of my plan. I agree, that Libra is not a threat for BTC.

ginobitcoiner

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Since I learned about Facebook's plan to launch cryptocurrencies I never thought that it would be a challenger to Bitcoin.
no matter how good Libra is it won't make bitcoin number 2 on cryptocurrencies.

irfan_pak10

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Quote from: bitbunnny on June 22, 2019, 12:59:45 PM

Quote from: irfan_pak10 on June 22, 2019, 11:02:22 AM

Probably. But if it's become regulated by different countries especially America and China, I believe it's going to rule out Bitcoin.

I don't think this is going to happen. Maybe Facebook has such ambitious but it's not very likely .
Although it's promoted like safe and and secure coin backed up with some real money and real money transactions I don't think this is enough for success and enough to attract users. So far Bitcoin isn't in any danger and I don't think this is going to change.

The purpose/ use case of this coin is really different from bitcoin. Libra coin is going to be centralized, maybe this thing affects its popularity.

Indrawan77

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I think Facebook coin or any other coin is not a threat for bitcoin, its called rivalry if the coin could proved that it got a better feature and the investors like it, then we will have one more good coin to used, and stable coin is not a good coin to invest and in crypto we don't like centralised investment, if we want centralised, we will just invest in fiat

tleilaxu_eyes

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Quote from: oseikuf44 on June 22, 2019, 04:13:31 PM

If about 50% of facebook users decides to try facebook coins because of the companies reputation, won't the demand of the price make the price surge and hence call investors to convert their bitcoins for facebook libra? It is a great treat to Bitcoins and Ether.

If 10% of facebook users use their coins it would be relatively big. People already use venmo and zelle. It doesn't have to be a good cryptocurrency; it just has to be easy to use.

It won't compete with btc, it will just stifle its growth.

Reatim

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Quote from: Hiluxury Bitcoin on June 22, 2019, 02:44:16 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.

Any information with links that reliable source gives you those ideas?if not then stop fooling people because Mark Zuckerberg will not allow the Facebook coin to become stable for sure

And about being threat for bitcoin?who says it will?lol bitcoin is already stablished and well trusted cryptocurrency,things that will never break by others even that famous social media site coins lol

TastyChillySauce00

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Quote from: Distinctin on June 23, 2019, 12:34:07 AM

Quote from: Wind_FURY on June 23, 2019, 12:27:43 AM

Quote from: Baofeng on June 22, 2019, 07:33:20 AM

Quote from: Wind_FURY on June 22, 2019, 05:56:52 AM

No launch, no threat. Cool

I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.

This. As I have said in the previous thread, Facebook has somewhat open the pandoras box, now every regulatory board not just in US but in UE as well are going to target Libra and they're going with all their might to push this project. They won't allow Mark to take over again with this so called coin that is closed and centralised.

But it was Bitcoin that opened the pandora's box, and impossible to be closed again. Facebook is stoppable because it needs permission to launch. Bitcoin didn't/doesn't/will never ask for permission.

No launch, no threat.

This is just the beginning of facebook entrance in the market, if they'll be appreciated by the people in crypto, they'll surely expand.
I believe soon they will also become a competitor of Binance in the crypto exchange side, there's a big possibility as everyone wants to dominate the market.

Is there any news about facebook opening a crypto exchange though? I never heard of that to be honest, Also I'll point out that Libra could expand if there's capital, since it's backed up by fiat therefore you need to money for each coin issued, However facebook compete with Binance doesn't seem right though.

Distinctin

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Quote from: Wind_FURY on June 23, 2019, 12:27:43 AM

Quote from: Baofeng on June 22, 2019, 07:33:20 AM

Quote from: Wind_FURY on June 22, 2019, 05:56:52 AM

No launch, no threat. Cool

I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.

This. As I have said in the previous thread, Facebook has somewhat open the pandoras box, now every regulatory board not just in US but in UE as well are going to target Libra and they're going with all their might to push this project. They won't allow Mark to take over again with this so called coin that is closed and centralised.

But it was Bitcoin that opened the pandora's box, and impossible to be closed again. Facebook is stoppable because it needs permission to launch. Bitcoin didn't/doesn't/will never ask for permission.

No launch, no threat.

This is just the beginning of facebook entrance in the market, if they'll be appreciated by the people in crypto, they'll surely expand.
I believe soon they will also become a competitor of Binance in the crypto exchange side, there's a big possibility as everyone wants to dominate the market.

Wind_FURY

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Quote from: Baofeng on June 22, 2019, 07:33:20 AM

Quote from: Wind_FURY on June 22, 2019, 05:56:52 AM

No launch, no threat. Cool

I believe Libra will receive enough regulatory push-back to make Mark Zuckerburg and his friends in Silicon Valley stop.

This. As I have said in the previous thread, Facebook has somewhat open the pandoras box, now every regulatory board not just in US but in UE as well are going to target Libra and they're going with all their might to push this project. They won't allow Mark to take over again with this so called coin that is closed and centralised.

But it was Bitcoin that opened the pandora's box, and impossible to be closed again. Facebook is stoppable because it needs permission to launch. Bitcoin didn't/doesn't/will never ask for permission.

No launch, no threat.

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