Topic: Facebook Cryptocurrency - page 13. (Read 10289 times)

Agree. No other cryptocurrency has been able to outpace Bitcoin. Not even Ethereum, which is the world's second largest cryptocurrency by market cap. Considering that Facebook's Libra cryptocurrency will be extremely centralized, it won't stand a chance against existing decentralized solutions. The beauty of Bitcoin relies on its decentralized design where no central authority is in charge of its future direction. Also, supply is deflationary and only governed by the protocol itself. Unlike Libra, Bitcoin allows anyone to transact freely without the intervention of a middleman or third party.

I believe that FB's Libra cryptocurrency will become extremely monitored by governments worldwide and Facebook itself. This would greatly threaten the privacy of many people, as their transactions will be exposed to centralized entities. In effect, transactions can be restricted on the network, accounts can be frozen, etc. On the other hand, this is not widely possible on Bitcoin. Of course, if Libra becomes a success, then it would become widely adopted by the mainstream world. This would prove to become beneficial towards Blockchain technology itself, but not for Bitcoin.

Despite this, we cannot predict the future. Libra has just been announced, but it's awaiting launch within 2020. It may take some time before we could determine what would be of this new cryptocurrency within the mainstream world. As some of Libra specs have not been revealed yet, we cannot know for sure whenever it'll be deflationary or otherwise.

Nonetheless, Bitcoin and other cryptocurrencies will still be in the lead for many years to come. With already existent stablecoins like USDT, USDC, and more, Libra may have a fierce competition to keep up with once it's launched within the mainstream world. Just my thoughts

Hello, before you totally disregard people’s opinion, you have to also back your own claim up too with a solid link to the source of your own information.we have so many information flying across the internet as regards this proposed Facebook coin, and all having different version. To the best of my knowledge for now, Mark has not even usher a word as regards the coin, but I guess one of his partners has done so when he claim to defend the accusation that it will compete with bitcoin.

He totally disregarded the accusation, and according to the version that I read too, the coin is meant to be a stable coin and would be pegged to a dollar, so I do not know where your own source of information is coming from too, for you to think Facebook coin will be useful for investment, this is just a utility token to be used internally, and probably as a global stable coin.

Well right now, we can only predict. Bitcoin is very strong when it comes to competition of Libra with Bitcoin. The rate of Bitcoin adoption is huge. It has already been the leader in digital economy. Supply is limited and that is the reason it is disinflationary as well. We do not know if these kind of traits are attached with Libra. However Libra will accelerate the crypto adoption to a huge extent.

but i hear facebook coin is likely stable coin like USDT so the price will not increase or down.
i think that cant be investment, but a good way to convert your money from fiat,because the way it works is the same as the blockchain.

This is the main issue in using this libra coin, your own privacy. But if people is not worried that this company will know every step of their daily lives, then go for it. But I don't agree with the OP that this will be a threat to bitcoin or other altcoins. For those who value their privacy, they will not abandon bitcoin or any other altcoins that promote anonymity. And libra, being centralized, I don't think many crypto users are in favor of this feature. So nope, even though there are a lot of hype surrounding libra, it won't be a threat to bitcoin.

There's a lot of hype around Libra and facebook's involvement in crytocurrency in general. For a good reason it's getting people talking and really interested in how it will effect the space. While it may be good for people in third world countries I think for the greater good it ruins people's privacy

Facebook create their new cryptocurrency but how it can be your competition for the other cryptocurrency that already available in Crypto field will be not predictable easily because when it had the price stably only we can judge its development otherwise this is the beginning stage So I don't expect much more in it.

Exactly. Libra will never defeat Bitcoin simply because it's centralized and manipulated by a middleman or third party. It's the same thing as traditional banks, where they keep custody of users' funds. Knowing that Facebook has been a threat to privacy for quite some time, it's evident that their cryptocurrency will become massively monitored by them and worldwide governments.

Despite this, Libra's adoption within the mainstream world would prove to be highly beneficial towards Blockchain technology itself. It will allow people to greatly understand how the Blockchain works, and how to make use of it within their daily lives. That exposure, would make crypto mainstream once and for all. Of course, the single point of failure (Facebook) greatly defeats the purpose of a Blockchain, but it's interesting to see how everything will unfold within the future.

Personally, I would invest into Libra only because it has a possibility of becoming extremely popular in the future. But, I'd never use it as an ordinary cryptocurrency because of its many risks mentioned earlier. The success of Facebook's new cryptocurrency will greatly depend on people's adoption within the mainstream world. We already have Banks collaborating with governments worldwide in order to devise a digital currency of their own. This adds up some level of competition for Libra, as the world will determine which currency to use in the future.

Nonetheless, time will tell how far Libra would go with the on-going developments in the regulatory sector. Just my thoughts

People does not know a lot about Libra, but they know this coin is own by Facebook so they are investing in the crypto space now.
Most of the them are buying bitcoin so we are seeing a bitcoin rocket again.

The action of facebook is pro crypto so this really brings positive result, if we still remember during the last year's ban, the effect was negative and it has a big negative effect and now it's a big opposite of the effect. We should be thankful with this, without FB announcement, we won't reach this high now.

I think that buying Libra will be pretty easy, as many big exchanges will trade this coin. The second moment is that there will be a lot of people looking to buy this coin, so I think the price will be high enough. I'm sad that this coin would be a threat to other coins. Other coins have their own other technologies and purposes

I think Libra Coin will make transactions in the crypto market more attractive. After Facebook announced that it would launch Libra Coin, price of bitcoin rose steadily and now above $ 13,000. I think Libra Coin will have a positive influence on the cryptocurrency market

Facebook Inc has said it's Libra coin will be stable coin, which means it is not going to be of any threat to BTC or other altcoins as you think, It will only be competing with other stable coins such as USDcoin and USDtether. Bitcoin prices will or other altcoins prices likely will not be determined by the introduction of Libra

Your post is full of blunders. First of all, the name of the cryptocurrency is Libracoin and not Global coin. And secondly, it is not going to be a stablecoin. As per Zucker, the currency will be backed up by real assets (including cash and bullion), but the exchange rate will be fluctuating similar to Bitcoin or Ethereum. And thirdly, it is not confirmed that the coin will not have smart contract features. Those details are not public as of now. But in all possibility, why should they shy away from using advanced technology, when they have the option?

The amount of FB users will eventually know about bitcoin, so eventually when they sees bitcoin is a good investment, they will buy it.
Institutional investors are pushing bitcoin up so small investors it's a good to invest in bitcoin and will also lead to another increase, that's my theory so let's believe that the rise will further continue.

We are free to embrace or refuse it. Its our personal choice as long as we are well educated about this both cryptocurrency either bitcoin or libra. Basically, they have different purposes. Libra is for stable medium of exchange while bitcoin is good for investment vehicle. Libra gains much attention since Facebook is famous social media but bitcoin established its name to be a successful crypto. I think there is no sense if we always compare this two.

Facebook's new GlobalCoin cryptocurrency is a stablecoin used for payment purposes within its network and it won't be a speculative type commodity like Bitcoin and probably won't have smart contract features like Ethereum or Tron so it won't likely affect their marketshare

Another one of this post where Libra is the top topic. I think people are just over hyping this project where in they compare it to BTC which is already a stablished coin. Libra is just another altcoin and cannot even be a threat to BTC for the top coin in the market.

Its not launch yet but i think it will be huge because many company are interested to this coin. Maybe it wll avaible soon so wait for it,and i think it will not threat to btc this coin because btc is proven than that new coin.

Libra coin is not a threat to BTC or other altcoins, Libra is a stable coin, so I think Libra will have a role as a virtual currency to store assets and transactions.  Libra is not good for create a profits from short trades.  but Libra's popularity will defeat the popularity of other altcoins.

Your opinion makes sense. I agree with you if Facebook coin won't have a chance to compete with Bitcoin or other popular altcoins for now. Moreover, if the Facebook coin is a stable coin. The coin is not suitable for investment asset, so people should prefer to choose Bitcoin or top altcoins. Don't be so afraid with new coins, guys.