Is libra coin going to dominate the Bitcoin market? - page 2.

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: BestCryptoYear2020 on December 28, 2019, 10:07:21 AM

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

It will be another alt coin that will be controlled by a centralized entity. I do not think there will be a big change if libra is able to get the required approval from US securities. It will add a little bit more value to existing market.

BeManga

sr. member

Activity: 962

Merit: 269

CryptoDirectories.com

Quote from: BestCryptoYear2020 on December 28, 2019, 10:07:21 AM

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

I think it's impossible for libra to dominate the market
it can only reduce a small amount same like other altcoins and not that high to dominate bitcoin

Obito

sr. member

Activity: 1274

Merit: 293

Quote from: BestCryptoYear2020 on December 28, 2019, 10:07:21 AM

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

It could possibly be. But popularity isn't all about the dominace it is about the essence of the coin itself to the community specially to the user who uses particular platform in which it work. It is not like because Facebook is really popular it doesn't mean that their coin would get the hyped as well. But anyway, let us just wait till libra get approved and let's do the talk later on.

yehestielsiburian

full member

Activity: 314

Merit: 107

Libra will not be able to compete with bitcoin.

Will it dominate the cryptocurrency market?
Talking about the cryptocurrency market, it could happen, to become the TOP 10 maybe Libra would be disturbed. But for rivaling Bitcoin in the market it will not happen. Bitcoin number one.

ashmodeus

hero member

Activity: 1638

Merit: 518

I told you, it's just a stable coin, I mean how stable assets stand far from good investments like bitcoin, eth, even NANO.
for another reason, i guess libra coin will take over USDT marketplace rather than bitcoin marketplace.

airdnasxela

sr. member

Activity: 728

Merit: 254

Right now, what only Libra has is the name since it is backed with famous companies. But since it hasn't been launched and approved yet, we still don't know what to expect in its performance. But I think it'll be a hot topic for days after launching it but it won't reach the point that it will after bitcoin's dominance in the market. Bitcoin will still remain as is because they are different so we don't have to worry about how it'll going to affect Bitcoin.

mrdeposit

hero member

Activity: 1358

Merit: 509

Quote from: joinfree on December 29, 2019, 05:30:09 AM

Impossible! Huh

...Why?

1. A shit centralized coin that goes against every idea of decentralization.
2. A coin which has not yet been launched and very likely will not been launched unless in their own selfish dreams and wishes.
3. A coin which is being developed by someone who has one of the poorest security mechanisms despite his reach in the technological industry.
4. Not even a crypto noob will buy into this idea.

i will definitely get boring if i should keep on because it's going to be a long list but you are all welcome to add more! RIP Libra Coin even before its birth lmao

Bitcoin will still maintain its place for many years. There are tens of thousands of altcoins in this industry like the libra, among them there are more advanced ones than Bitcoin, but none of them has taken its place and will not take many years. Bitcoin is already the root of the tree, and if anybody touches it, it will decay.

oktana

sr. member

Activity: 1680

Merit: 288

Eloncoin.org - Mars, here we come!

will only compete with usdt, and will not be better than that.

volume is also very much related to traded exchanges, if only concentrated in 1-2 markets it will not bring change even though they have very many users. Then libra will face many regulations that will prevent them from moving faster. Approval from US Securities will only bring more waves of speculation towards bitcoin.

jazmuzika217

member

Activity: 476

Merit: 12

In my own opinion, Libra can't do to dominate the bitcoin market or even the left percentage from crypto market because all we know that libra already faced in different issue upon launching so as a crypto investor and trader I will stay away to the coin or project that have a big possibility to engage in another huge problem in the near future.

joinfree

sr. member

Activity: 1274

Merit: 260

1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

Impossible! Huh

...Why?

1. A shit centralized coin that goes against every idea of decentralization.
2. A coin which has not yet been launched and very likely will not been launched unless in their own selfish dreams and wishes.
3. A coin which is being developed by someone who has one of the poorest security mechanisms despite his reach in the technological industry.
4. Not even a crypto noob will buy into this idea.

i will definitely get boring if i should keep on because it's going to be a long list but you are all welcome to add more! RIP Libra Coin even before its birth lmao

inanilujimi

sr. member

Activity: 1876

Merit: 259

I don't think libra is possible to reduce the dominance of bitcoin in the crypto market, they just have difficulty getting approval from US Securities ,,
So don't overdo it.
How coin a stable join dominate the market? Remember people like this market because of its fluctuating nature.

ecnalubma

sr. member

Activity: 1540

Merit: 420

www.Artemis.co

Quote from: BestCryptoYear2020 on December 28, 2019, 10:07:21 AM

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

No, Crypto enthusiasts won’t use Libra because it will be a boring coin because its stablecoin. I don’t think that it will outperform other crypto as well, it will be like a paypal 2.0 for new generation but investors won’t buy bunch of it.

MMysterious

sr. member

Activity: 972

Merit: 255

Bear season or just the beginning

I am not too sure but Libra has the potential to become a currency for billions of people. Facebook is bigger than a country, maybe even bigger than China? And Facebook's trading market is ever growing, even surpassing Youtube on its first year. Libra can kill or diminish the US dollar. The thing with Libra is it has the support of the largest financing firms all over the world, some of them backed out but in reality they still wanted to become part of it and if not for the US government threatening them. Libra is also a stable currency based on US dollar. Zuckerberg is actually giving the US some kind of a favor. The US needs to address this carefully because if not, someone will do this. Telegram's founder is another potential.

fuer44

sr. member

Activity: 1652

Merit: 262

on a usage basis, maybe yes. because if it is true that libra is made with a value equivalent to the dollar then the value is stable, chances are that people who will make online transactions will switch to libra and bitcoin will lose their users as online transactions. rather than paypal, ebay or others, chances are libra will be a favorite choice.

shiming

full member

Activity: 798

Merit: 101

It seems they are currently planning to use it inside Facebook. Recently, their crypto projects have been highly valued by the government, which attaches great importance to the implementation of cryptocurrencies. I don't know if it will be affected by Chinese reasons. Libra is different from Bitcoin. I don't think it's comparable. Even if Libra is launched. It is also a stablecoin. The definitions are different. Thank you.

Xxmodded

sr. member

Activity: 2296

Merit: 315

SOL.BIOKRIPT.COM

Quote from: BestCryptoYear2020 on December 28, 2019, 10:07:21 AM

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

Bitcoin have been king for all altcoin and never have new coin although stronger like Libra become competitor for bitcoin, for Libra still claimed an illegal coin transaction now because United State government not giving space for Libra become legal transaction there and keep not get permission from government until now.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: BestCryptoYear2020 on December 28, 2019, 10:07:21 AM

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

How can it dominate when it is not even consider a crypto currency in the first place? So the argument is flawed in the beginning. And as far as I know, they wanted to compete in the remittance services, so most likely XRP will be their main competitor and not Bitcoin per se.

With that said, there could be effect on Bitcoin but I doubt that it will challenge the dominance of BTC here. Two different market and Libra should be considered as token and not crypto.

Jamalkm74

jr. member

Activity: 58

Merit: 1

Worlds Simplest Cryptocurrency Wallet

Quote from: BestCryptoYear2020 on December 28, 2019, 10:07:21 AM

In case libra coin will get approval from US Securities,
Will it dominate the cryptocurrency market?
Currently Bitcoin has dominance of 68% in the market.
Will Libra coin reduce the dominance of Bitcoin market?

I Don't think so it’s happen, if USA approve it then It's just stable coin like USDT, Can't possible to dominate Bitcoin market, but i think people are waiting for invest in libra coin just because of USA coin, so now need to wait for approval.

Shasha80

sr. member

Activity: 1876

Merit: 318

If the Libra coin is successfully approved by the American government, it will launch into the cryptocurrency market. It cannot dominate
market as well as bitcoin. The reason libra coin is stable coins, the price is the same as the US Dollar. Very different from bitcoin the price
fluctuates depending on supply and demand. How can we make a profit if the price is stable at $ 1. Why bitcoin arrived can dominate the
market, not only because it's popular. But bitcoin prices are volatility, which means it can change quite quickly and drastically. This is what
makes bitcoin interested by investors, because it can generate profits in a relatively short time.

senin

full member

Activity: 938

Merit: 137

Even if Libra is released, which I doubt very much, this is just one of many stable coins. Stable coins can compete with cryptocurrency only as a means of payment. However, a decentralized cryptocurrency has many other functions that do not perform stable coins. In addition, the Libra coin will no longer be able to fulfill the role of a global coin, as it was originally intended. I think that stable coins of the European Union, the USA and even China will have more popularity than Libra.

Topic: Is libra coin going to dominate the Bitcoin market? - page 2. (Read 494 times)