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

Khaos77

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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

One thing about Libra , it is encompassed inside the FIAT model (it can never outgrow FIAT Supply only grow it),
while Bitcoin can and does operate outside of the FIAT model (It does not have to be limited by it).

squatter

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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.

Khaos77

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Quote from: Slow death on June 21, 2019, 09:16:46 AM

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

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

Why did you think of that? Why do you think Libra is something that will kill bitcoin?

think of the following:

Why do you think people like bitcoin? Because bitcoin is a means of payment? I do not think it's because of that. so why do you think people would stop using bitcoin just because there is another currency that can be used as a means of payment? This is the rationale you should be doing.

That is kind of the point,
Many alternatives are better suited as a means of payment than bitcoin, and it's only true value remaining is as a speculative investment.

While a investment and a payment service won't directly complete ,
can bitcoin survive as only a speculative investment with no other utility service?
Of this there is an uncertain future, no merchant support could be a deadly blow to price.

Even Gold has multiple utilities usages in other areas than as an investment only , than drains supply in times of low prices.
As of now, Libra could totally end bitcoin as a payment service, giving it no other reason to exist.
And as nothing but an investment, is that reason enough, as it's original design required it to be a payment service to survive and thrive.
No Payment service, No fees for Miners as rewards continue to drop, and prices to maintain bitcoin network keep increasing.

Make your own judgement.

Slow death

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

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

Why did you think of that? Why do you think Libra is something that will kill bitcoin?

think of the following:

Why do you think people like bitcoin? Because bitcoin is a means of payment? I do not think it's because of that. so why do you think people would stop using bitcoin just because there is another currency that can be used as a means of payment? This is the rationale you should be doing.

betty11

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Trading companies and individuals will still rapidly embrace the bitcoin because of its decentralization, volatility and huge economic reward. Libra is just a stable coin which is going to be used mainly for payment. I see more companies coming up with their stable coin.

Ris88

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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 ??

klaaas

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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.

All this can also be done without facebook credits. Where anyone can use Bitcoin only people who wants to take a selfie with a date and smile will be able to when a forced kyc is needed.
This network with guards will make the ultra rich even richer and ensure they stay in control.

FUD Expert

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Banks with no doubt will shill Libra with their most effective and expensive marketing. That's how I only see it. But I think China or other asian countries will never let it enter their market just like how Google and facebook is banned is China. So sorry. Mr. Zuck but only bitcoin will be the one who will win this game and not by your Fb empire' coin who will surely sell private information.

squatter

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Quote from: Deewhy2 on June 20, 2019, 05:23:32 PM

Russia government says they won't legalize Libra coin
( https://cointelegraph.com/news/russia-will-not-legalize-facebooks-cryptocurrency-official-says)

Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project
( https://cointelegraph.com/news/chair-of-house-financial-services-committee-requests-halt-on-facebooks-crypto-project)

French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin
( https://cointelegraph.com/news/french-minister-of-economy-to-ask-for-guarantees-from-facebook-in-regards-to-its-forthcoming-coin)

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16
( https://cointelegraph.com/news/senate-banking-committee-sets-hearing-on-facebooks-crypto-for-july-16).

If you are able to go true that you will see that Libra surpassing bitcoin might not be possible.

This actually highlights Bitcoin's strengths over centrally issued currencies like Facebook's Libra coin. There's no central choke point where governments can target Bitcoin and force changes upon it. Facebook, on the other hand, can easily be pressured to the whims of governments.

dmty.0809

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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.

nydiacaskey01

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Quote from: shoreno on June 19, 2019, 10:13:01 PM

Quote from: rdluffy on June 19, 2019, 12:11:35 PM

Our community is only here because of BTC, we all share the same ideas behind BTC and cryptos in general
I'll not support this coin, no matter what, and I expect almost all people do the same

easy bro . this is just a normal coin . this facebook's libra coin dont differ from other coins out there that come and go . its normal at first to see this coin at hype but eventually the hype will subside and people will return to praise bitcoin again .

you did mention this community . this community is not only for bitcoin but its for general , we can talk about other coins and other stuffs as long as they are placed on the right section of this forum .

I guess you are right on this one, the only difference between Libra and Bitcoin is Libra gained popularity because of its developers and backers. However, I don't think it will be accepted like us using Bitcoin because of anonymity. I think Libra developers will use the data that they have with Facebook to get your hands with Libra. Imagine signing in using Facebook to access your account in Libra. No KYC needed.

Deewhy2

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Libra leading bitcoin is close to impossible because of some reasons:

Russia government says they won't legalize Libra coin
( https://cointelegraph.com/news/russia-will-not-legalize-facebooks-cryptocurrency-official-says)

Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project
( https://cointelegraph.com/news/chair-of-house-financial-services-committee-requests-halt-on-facebooks-crypto-project)

French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin
( https://cointelegraph.com/news/french-minister-of-economy-to-ask-for-guarantees-from-facebook-in-regards-to-its-forthcoming-coin)

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16
( https://cointelegraph.com/news/senate-banking-committee-sets-hearing-on-facebooks-crypto-for-july-16).

If you are able to go true that you will see that Libra surpassing bitcoin might not be possible.

Tiennou74

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Bitcoin will be King always ! and Libra will be stable coin, Libra will have new wings, and it will open new gates for crypto's world.
it seems Investor might have great trust toward to Blockchain industry. let hope for the best ! Bitcoin to 50,000$ by next 2022

Happy Trading
Thanks
Regards

Snaic

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It seems to me that Bitcoin owners have no cause for concern, and therefore there is still no cryptocurrency market leader, And if it is used for its intended purpose, its superiority will be undeniable. Although if you take into account the new project Facebook, which brings together under its auspices more than 29 companies that are engaged in the transfer of funds, the Libra project can make a really strong competition for Bitcoin.

deisik

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

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

I think this is a false dichotomy

As we already have the US dollar which is not a lot different from this new kid on the block. So, if anything, the wannabe Bitcoin killer will have to compete with the dollar, not Bitcoin, as it is centralized and thus not particularly different from any other fiat out there. In simple words, there is nothing to worry about. In fact, we should welcome these attempts at taking Bitcoin down as it will come out only stronger in the end and more people will learn about it

bimvo

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I perceive the expansion of the cryptocurrency market positively. Because there was a time when people did not believe in the blockchain. But now it doesn't even matter which companies, facebook, visa or paper are launching their coin. All this shows the value of the blockchain and reinforces public interest in it. So people can better understand the true value of decentralization and the power of blockchain technology, and innovation can start to happen faster and faster.

geerus

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Quote from: americanreamt on June 20, 2019, 02:54:14 AM

They ultimately have a grandiose goal to compare with Bitcoin in popularity and make a very flexible product that will allow a large number of users to send cryptocurrency without any problems and use it for purchases. However, on the whole, the society is not prepared to start using cryptocurrencies en masse, since speculations are too strong

The society is not ready, because there are not enough popular sources where people could learn how to use cryptocurrency. I am glad that I found the project taklimakan, he helped to deal with many terms and understand how to trade on the crypto exchange. But we still continue to see cryptocurrency price manipulations. So it will be interesting that Facebook will be able to offer users and investors.

juliatorba

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Quote from: borrorofju on June 20, 2019, 02:30:13 AM

When it is planned to launch another cryptocurrency on the market, a large brand like a facebook arises more doubts than joys. Even using a blockchain, can they guarantee the confidentiality and security of user data? What about past scandals, where did the whole world find out about the flaws in their privacy system?

People do not often analyze corporate motives. They think more about how to get a good profit. Therefore, prejudices should be postponed and viewed without emotion. The Facebook company is the largest social network, which means it will be easy to distribute and replenish the base of new users. This will raise the value of cryptocurrency to a new level.

americanreamt

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They ultimately have a grandiose goal to compare with Bitcoin in popularity and make a very flexible product that will allow a large number of users to send cryptocurrency without any problems and use it for purchases. However, on the whole, the society is not prepared to start using cryptocurrencies en masse, since speculations are too strong

borrorofju

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When it is planned to launch another cryptocurrency on the market, a large brand like a facebook arises more doubts than joys. Even using a blockchain, can they guarantee the confidentiality and security of user data? What about past scandals, where did the whole world find out about the flaws in their privacy system?

Topic: Libra VS Bitcoin (2 Coins Enter 1 Coin Leaves????) - page 2. (Read 1042 times)