Libra VS Bitcoin (2 Coins Enter 1 Coin Leaves????)

JeffBrad12

hero member

Activity: 2996

Merit: 536

Leading Crypto Sports Betting & Casino Platform

Quote from: gwdf1 on June 27, 2019, 03:11:39 PM

Quote from: Ris88 on June 21, 2019, 07:21:18 AM

Quote from: dmty.0809 on June 21, 2019, 12:41:41 AM

With the new coins created by Facebook, it might have a bad impact on Bitcoin because Libra Coin will become a digital currency and will get support from real world asset reserves including bank deposits and government securities for the short term. Already this Libra money is also controlled or held by a network of guards.

In fact, I think that Libra coin will be a pump for the price of bitcoin later on, even I think libra coin will be the second coin after Ethereum that we have seen is always with Bitcoin, will Libra coins replace Ethereum's position ??

How can it pump if it is supposed to be a stable coin? Simply the market cap of Libra can grow, and it will let the coin climb in the table. It cannot be compared with Bitcoin, which price depends on demand a lot.

The market cap can grow but that will be very similar as another stable coin and it will increase based on how much reserved funds that already put to backup each libra coin with one dollar. Bitcoin used the demand to get volatility but it's not clear about how libra will work to increase the supply if that will be working as stable coin.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: Deborah Christine on July 07, 2019, 11:08:20 PM

Bitcoin and libra are very different coins. I don't think Libra can compete with bitcoin because Bitcoin is already much stronger in the market. Besides that libra is a stable crypto currency because it is supported and sustained by a capable banking system and focuses on the exchange rate of several well-known currencies such as USD, euro, pound sterling, etc while bitcoin is not regulated by the banking system or government and is more independent and open and the value is more fluctuating and unstable like libra.

I still think if LIBRA works and give it say 1 year to get the kinks out, they will make ANOTHER coin, and call it LIBRA GOLD, or some such and go after that 'pesky open-source' and

'evil' Bitcoin! Hell, if I was a 'criminal mastermind' it what I would do. Indeed, this is obvious to anyone who was raised watching 'Cartoon Villians' and their attempt to take over the world!"

It is how megalomanic and billionaire individuals and corporations roll, more is never enough, you have to own all the 'virtual real estate' via the Facebook Plan on Digital Domination!

All the rest of the world must be 'digital serfs' at our feet. Wait for it. If Libra works in any manner the next coin pushed will be a centralized version to go after store of value and

displace Bitcoin. Not sure if it will work, but pretty sure, Facebook will eventually try to do so.

later

Brad

Deborah Christine

sr. member

Activity: 864

Merit: 284

Bitcoin and libra are very different coins. I don't think Libra can compete with bitcoin because Bitcoin is already much stronger in the market. Besides that libra is a stable crypto currency because it is supported and sustained by a capable banking system and focuses on the exchange rate of several well-known currencies such as USD, euro, pound sterling, etc while bitcoin is not regulated by the banking system or government and is more independent and open and the value is more fluctuating and unstable like libra.

gwdf1

full member

Activity: 680

Merit: 103

Quote from: Ris88 on June 21, 2019, 07:21:18 AM

Quote from: dmty.0809 on June 21, 2019, 12:41:41 AM

With the new coins created by Facebook, it might have a bad impact on Bitcoin because Libra Coin will become a digital currency and will get support from real world asset reserves including bank deposits and government securities for the short term. Already this Libra money is also controlled or held by a network of guards.

In fact, I think that Libra coin will be a pump for the price of bitcoin later on, even I think libra coin will be the second coin after Ethereum that we have seen is always with Bitcoin, will Libra coins replace Ethereum's position ??

How can it pump if it is supposed to be a stable coin? Simply the market cap of Libra can grow, and it will let the coin climb in the table. It cannot be compared with Bitcoin, which price depends on demand a lot.

BeManga

sr. member

Activity: 962

Merit: 269

CryptoDirectories.com

Quote from: Khaos77 on June 19, 2019, 04:08:57 AM

Libra VS Bitcoin (2 Coins Enter 1 Coin Leaves???)

Bitcoin Created by Satoshi
VS
LIBRA Created by Corporations

Libra Specs are still not confirmed, but faster transactions speeds and lower transactions fees to gain market share seem likely.

Libra is Centralized Control and Bitcoin currently is not.

Libra value per coin should be stable since the Corps are backing it with fiat reserves, while Bitcoin price can rise or fall quickly.

My thoughts are merchants will flock to it because of price stability , plus a little corporate nudging.

Bitcoin will still be harder to censor than Libra and its price won't be as stable,
but investors and traders don't want stability, they make money with the market swings.

So Investors and traders will still favor Bitcoin,
While Merchants will favor Libra.

So what is everyone's else thoughts?

Will one defeat the other or are they fighting in different rings and never shall they actually face off.

in my opinion libra will not harm bitcoin instead bitcoin will get some benefits from it like more adoption and awareness in cryptocurrency. there are thousand of crypto coins and token but you can see even they become succesful they just under bitcoin and bitcoin gain popularity with the help of other coin and token. i think it will be the same in libra.

bettercrypto

sr. member

Activity: 1498

Merit: 271

DGbet.fun - Crypto Sportsbook

It is up to the users who are comfortable to invest with. But I want to say that we need to diversify our portfolio. If we will leave libra, maybe we will regret once it goes to a successful coin. Imagine, many people are expecting libra to launch and being part of it, assume that there are also people that will buy libra coin. Now, it`s either bitcoin will affected negatively by this coin or it may be complementary for BTC to have libra. So, better to invest both.

samuraijin

sr. member

Activity: 1848

Merit: 261

20BET - Premium Casino & Sportsbook

I think they have no desire to compete with bitcoins or other crypto currencies, this will certainly oppose many other crypto communities, so this is very common like many new altcoins that grew up some time ago until now, my view is Libra support only from some bitcoin communities because it uses blockhain technology, no one knows because they haven't released it whether the transaction can be much faster

partysaurus

sr. member

Activity: 574

Merit: 251

Quote from: Khaos77 on June 19, 2019, 04:08:57 AM

Libra VS Bitcoin (2 Coins Enter 1 Coin Leaves???)

Bitcoin Created by Satoshi
VS
LIBRA Created by Corporations

Libra Specs are still not confirmed, but faster transactions speeds and lower transactions fees to gain market share seem likely.

Libra is Centralized Control and Bitcoin currently is not.

Libra value per coin should be stable since the Corps are backing it with fiat reserves, while Bitcoin price can rise or fall quickly.

My thoughts are merchants will flock to it because of price stability , plus a little corporate nudging.

Bitcoin will still be harder to censor than Libra and its price won't be as stable,
but investors and traders don't want stability, they make money with the market swings.

So Investors and traders will still favor Bitcoin,
While Merchants will favor Libra.

So what is everyone's else thoughts?

Will one defeat the other or are they fighting in different rings and never shall they actually face off.

dont think libra will have the breaktrhough alot of people think its not the next big thing for people outside crypto, more people know about bitcoin than libra that dont invest in crypto, heck most my friends dont even know what libra is but all of them know what bitcoin is even if they dont invest.

BigBos

sr. member

Activity: 2016

Merit: 456

Quote from: ?? on ??

in my opinion, decentralized VS centralized, in chases Bitcoin by Hype on Twitter Libra coin is in second place. beat ETH and XRP. BtC has always been number one. and I think. Libra can't beat BTC.

pretty good assumption. however, Libra is also still priceless as newly released coins. maybe in the first time it appears, there will be very many people who are interested in it, but what next? it depends on the development. Until now, bitcoin has been very trusted, so, I think, it's still quite difficult Libra beat bitcoin for now.

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: Searing on June 23, 2019, 11:18:40 PM

IF as you state above "people start holding funds in Libra/Calibra instead of bank accounts". As you quote above, this would be IMHO very, very bad for Bitcoin as a 'store of value'

Why so? Most people already use bank accounts. Why does it matter if some of those people take some of that value and hold Libra instead of dollars or euros?

Quote from: Searing on June 23, 2019, 11:18:40 PM

If LIbra has the option to gain interest as a bank and be its 'own store of value". I am somewhat unclear on this, however. With all the online banking in the world, I find it hard to

believe that if Libra is sanctioned by the gov't and powers that be, it could not be allowed to also act as a bank and pay interest and do loans like any other web-based bank

out in the world. Thus, if this came to pass, could not Bitcoin and other open source coins be 'pushed out' and Libra replace Bitcoin?

Libra users will have a centralized currency backed by quickly devaluing fiat currencies. Why would that replace Bitcoin?

arpon11

sr. member

Activity: 882

Merit: 282

Quote from: Khaos77 on June 19, 2019, 04:08:57 AM

Libra VS Bitcoin (2 Coins Enter 1 Coin Leaves???)

Bitcoin Created by Satoshi
VS
LIBRA Created by Corporations

Libra Specs are still not confirmed, but faster transactions speeds and lower transactions fees to gain market share seem likely.

Libra is Centralized Control and Bitcoin currently is not.

Libra value per coin should be stable since the Corps are backing it with fiat reserves, while Bitcoin price can rise or fall quickly.

My thoughts are merchants will flock to it because of price stability , plus a little corporate nudging.

Bitcoin will still be harder to censor than Libra and its price won't be as stable,
but investors and traders don't want stability, they make money with the market swings.

So Investors and traders will still favor Bitcoin,
While Merchants will favor Libra.

So what is everyone's else thoughts?

Will one defeat the other or are they fighting in different rings and never shall they actually face off.

Time will really answer this question that has been in the minds of many of us. I think Bitcoin is too popular and the idea behind it will never allow it to merge with any stable coins and if it marge with any of them? Bitcoin will reduce its value as a decentralized currency which will never have a reserve in fiat and will never be stable like other currency because its aim and objectives are different from that of the libra coin. Another thing that I see might not play out is thinking that Bitcoin will be negatively be affected by libra coins because of the popularity of Facebook but from experience, bitcoin has fight governments, regulatory authorities, and Major currencies, and until now it remains very strong and will make a surprise when we get there.

Lily_Olive

newbie

Activity: 42

Merit: 0

Bitcoin is created by Satoshi.. but who is Satoshi?
Anyone know who is Satoshi? Well i heard that bitcoin is decentealized.. is it???

Austin_Lord

newbie

Activity: 42

Merit: 0

Quote from: Chain Clash on June 19, 2019, 05:10:26 AM

Libra, to me, marks the beginning of a new era in human history, the age of the corporations. We tried to find a new way by introducing public blockchains; however, it is more likely that corps like Facebook will control the Blockchain space soon, at least it will be perceived like that by the general public.

Hopefully, we will get back on track towards decentralization soon. BTC

Is bitcoin decentralized or centralized?

Austin_Lord

newbie

Activity: 42

Merit: 0

Quote from: franky1 on June 19, 2019, 04:23:01 AM

what i find funny reading about libra

says "protects users’ privacy by never mingling your Libra payments with your Facebook data"

but then says "You’ll pseudonymously buy or cash out your Libra online... ...and spend it using interoperable third-party wallet apps or Facebook’s own Calibra wallet that will be built into WhatsApp, Messenger and its own app."

but then shows
https://techcrunch.com/wp-content/uploads/2019/06/Facebook-Calibra.png

oh look someones facebook profile in same app as the payment

people will laugh when they get facebook notifications/messages that a friend paid them X. and questions start arising 'but how does facebook notifications know'

the way i look at it. libra wont 'mingle' facebook data.. to avoid blockchain bloat.
but facebook will include libra data because how else will messenger inform you been paid

I have a question.. my question is that libra and bitcoin is same thing? Or they are different from each other? Huh

??

CBANX3

jr. member

Activity: 40

Merit: 1

The analysis is good! As we can say that Bitcoin has given the birth to the digital asset whereas Libra is giving it acceptance in the corporate realm. Bitcoin was a mystery for all but Libra is open book, therefore, level of hesitation is lower and is acceptance is higher which is good for the financial world.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: squatter on June 21, 2019, 06:22:45 PM

Quote from: Khaos77 on June 21, 2019, 03:52:36 PM

Quote from: squatter on June 21, 2019, 01:49:41 PM

Quote from: FUD Expert on June 21, 2019, 03:06:54 AM

Banks with no doubt will shill Libra with their most effective and expensive marketing. That's how I only see it.

Legacy banks want no part of it. Libra only threatens their market share for international remittances, as customers will move away from bank wires and towards the cheaper payments offered by Libra. Companies like Stripe and PayPal might be along for the ride, but legacy banks will probably be pushing their own competing products.

Included in the List of companies supporting Libra, are VISA & MASTERCARD

...which are not banks. Visa, Mastercard and similar payment processors will be happy to implement Libra into their POS products and take a cut from merchants like they do today.

Banks, on the other hand, only stand to lose if people start holding funds in Libra/Calibra instead of bank accounts because it's cheaper to remit internationally. Just like banks created Zelle to compete with Venmo, they'll create a new, cheaper and faster system to replace SWIFT and begin competing with products like Libra.

IF as you state above "people start holding funds in Libra/Calibra instead of bank accounts". As you quote above, this would be IMHO very, very bad for Bitcoin as a 'store of value'

If LIbra has the option to gain interest as a bank and be its 'own store of value". I am somewhat unclear on this, however. With all the online banking in the world, I find it hard to

believe that if Libra is sanctioned by the gov't and powers that be, it could not be allowed to also act as a bank and pay interest and do loans like any other web-based bank

out in the world. Thus, if this came to pass, could not Bitcoin and other open source coins be 'pushed out' and Libra replace Bitcoin?

Let me know what you think. I am befuddled. Everyone seems to think Libra will help BTC as a store of value, but I for one can't for the life of me, see why they would not

take these next and obvious steps and also make Libra a centralized coin as a store of value backed by Facebook. Just seems the way I would go if I was an 'evil mastermind'

and wanted to replace my 'centralized Libra coin" as the next Bitcoin that I could control completely.

So educate me on why this would or could not be done and/or why this would not be easy? Seems a clear enough evil path to me!

Brad

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: Khaos77 on June 21, 2019, 03:52:36 PM

Quote from: squatter on June 21, 2019, 01:49:41 PM

Quote from: FUD Expert on June 21, 2019, 03:06:54 AM

Banks with no doubt will shill Libra with their most effective and expensive marketing. That's how I only see it.

Legacy banks want no part of it. Libra only threatens their market share for international remittances, as customers will move away from bank wires and towards the cheaper payments offered by Libra. Companies like Stripe and PayPal might be along for the ride, but legacy banks will probably be pushing their own competing products.

Included in the List of companies supporting Libra, are VISA & MASTERCARD

...which are not banks. Visa, Mastercard and similar payment processors will be happy to implement Libra into their POS products and take a cut from merchants like they do today.

Banks, on the other hand, only stand to lose if people start holding funds in Libra/Calibra instead of bank accounts because it's cheaper to remit internationally. Just like banks created Zelle to compete with Venmo, they'll create a new, cheaper and faster system to replace SWIFT and begin competing with products like Libra.

sandra_x

member

Activity: 574

Merit: 14

Libra is already having restrictions in some countries and many merchants will certainly have some reservations as to giving so much power to a centralized entity like facebook. I think Libra is nothing new, just paypal 2.0. Bitcoin will rule the world, People will see which coin really give them liberty

Cryptrx

jr. member

Activity: 498

Merit: 1

Worlds Simplest Cryptocurrency Wallet

I'm of the opinion that both will survive with one not impacting much on the other. The introduction of Libra coin will only result in much awareness of bitcoin, more investors will come in.

Shenzou

sr. member

Activity: 1414

Merit: 283

Quote from: Khaos77 on June 19, 2019, 04:08:57 AM

Libra VS Bitcoin (2 Coins Enter 1 Coin Leaves???)

Bitcoin Created by Satoshi
VS
LIBRA Created by Corporations

Libra Specs are still not confirmed, but faster transactions speeds and lower transactions fees to gain market share seem likely.

Libra is Centralized Control and Bitcoin currently is not.

Libra value per coin should be stable since the Corps are backing it with fiat reserves, while Bitcoin price can rise or fall quickly.

My thoughts are merchants will flock to it because of price stability , plus a little corporate nudging.

Bitcoin will still be harder to censor than Libra and its price won't be as stable,
but investors and traders don't want stability, they make money with the market swings.

So Investors and traders will still favor Bitcoin,
While Merchants will favor Libra.

So what is everyone's else thoughts?

Will one defeat the other or are they fighting in different rings and never shall they actually face off.

People are really overestimating the Libra coin, it is like any other crypto that is released out there maybe even worse since it is stablecoin, the only thing that is giving people the idea that it is going to be good is Facebook having a large user base, Libra won't be that good and it may be popular at first but than it will die out, so there is no fear from it and bitcoin will just stay the way it is, however what i am hoping is that more major companies take the step that facebook is taking to take cryptocurrency and make it the new way of life.

Topic: Libra VS Bitcoin (2 Coins Enter 1 Coin Leaves????) (Read 1049 times)