A centralized system for the ultra rich under there control to join the bandwagon that is called crypto. I think that is the main difference.
Next thing will be facebook credit loans ?!
Topic: Libra vs. Bitcoin - What's the Dif? - page 5. (Read 1104 times)
Basically libra is backed up by it's owners, by big companies , at the same time Libra is something that can face legal consequences if it was being used for something not right.
What I do think is that Libra doesn't only have pros, it also have cons over Bitcoins, most likely it is not something that is entirely the users.
That's the biggest difference that there is .
But still we must admit it we were waiting for Bitcoins to become backed up , by other companies so that low value can be avoided up to an extent and also at the same time we will have more weight over governments.
Libra was created by a large company with a large team, and of course the difference between Libra and Bitcoin is very far. now bitcoin has shown its position in cryptocurrency to be the best coin. but for Libra, they still have to wait for the Libra position on the exchange. I hope that libra can be one of the good coins and has high potential in cryptocurrency. What I do think is that Libra doesn't only have pros, it also have cons over Bitcoins, most likely it is not something that is entirely the users.
That's the biggest difference that there is .
But still we must admit it we were waiting for Bitcoins to become backed up , by other companies so that low value can be avoided up to an extent and also at the same time we will have more weight over governments.
I find it easier to talk about what is not different between bitcoin and libra rather than talking about differences because nearly everything about the two is different. from centralization to closed blockchain nature of libra.
so the only similarity the two have is one thing in my opinion and it is the fact that they are both based on cryptography! and similarity ends there because I am not so sure if we can call it "blockchain technology" either.
so the only similarity the two have is one thing in my opinion and it is the fact that they are both based on cryptography! and similarity ends there because I am not so sure if we can call it "blockchain technology" either.
Bitcoin differs significantly from Facebook’s new asset in many ways. Perhaps the most notable difference lies in Bitcoin’s decentralization. No single entity controls Bitcoin. In contrast, Facebook and the Libra Association have a large amount of control over the Libra asset and its usage. The setup of Libra’s Association also appears to give sizeable entities (or chosen entities) power over what might become a top global asset – the Libra. Bitcoin does not give control to such businesses in the same fashion.
I am not sure if FB brings its coin will it be a successful entity or coin for along term. May be for short term it might get a good hype and some profits could be made out of it but considering the reputation now of the FB and its significance will it last for coming years is doubtful.
Basically libra is backed up by it's owners, by big companies , at the same time Libra is something that can face legal consequences if it was being used for something not right.
What I do think is that Libra doesn't only have pros, it also have cons over Bitcoins, most likely it is not something that is entirely the users.
That's the biggest difference that there is .
But still we must admit it we were waiting for Bitcoins to become backed up , by other companies so that low value can be avoided up to an extent and also at the same time we will have more weight over governments.
What I do think is that Libra doesn't only have pros, it also have cons over Bitcoins, most likely it is not something that is entirely the users.
That's the biggest difference that there is .
But still we must admit it we were waiting for Bitcoins to become backed up , by other companies so that low value can be avoided up to an extent and also at the same time we will have more weight over governments.
Bitcoin differs significantly from Facebook’s new asset in many ways. Perhaps the most notable difference lies in Bitcoin’s decentralization. No single entity controls Bitcoin. In contrast, Facebook and the Libra Association have a large amount of control over the Libra asset and its usage. The setup of Libra’s Association also appears to give sizeable entities (or chosen entities) power over what might become a top global asset – the Libra. Bitcoin does not give control to such businesses in the same fashion. tellthebell
So in short,
Bitcoin is:
Good
Libra is:
Bad
Bitcoin is:
Good
Libra is:
Bad
Quote
The cheapest, fastest, and most secure way to send money yet invented.
There are already altcoins that's way more cheaper, faster and more secure than Bitcoin, it's just that Bitcoin is the father and pioneer of cryptocurrency.
Great so in other words the Libra coin was just a fiat that converted to a they call crypto coin? which is not decentralized and owned by companies. No doubt most of articles I've read are not on favor on the Facebook coin also in regards with identity most of the users are really exposed.
It all makes sense now.
It all makes sense now.
Maybe you should lock this topic and join the discussion in this thread https://bitcointalksearch.org/topic/libra-vs-bitcoin-2-coins-enter-1-coin-leaves-5156023 instead. It's better to maintain just one thread for similar topics.
I thought it might be valuable to point out some of the key differences between FaceBook’s new Libra coin and Bitcoin. They are certainly not the same. The greatest features of bitcoin center around it’s decentralized network.
Bitcoin is:
Bitcoin is:
- A currency that disconnects your identity from your money.
Owned only by the user who posses it.
A currency that has a production, circulation, and distribution which is beyond the control of any government, business, or ANY entity at all.
A currency that can be used in any country for any transaction and is beyond anyone’s ability to compel or deny a transaction.
The cheapest, fastest, and most secure way to send money yet invented.
- A currency that ties not only your basic identity to your money, but includes all the details found on your FB, instagram, What’sApp, and other social media. A near perfect coin for stealing your identity.
Owned by a banking cabal including PayPal, MasterCard, FaceBook, Andreessen Horowitz, etc. Users may use their coins if they follow all rules required by the owner companies. Users must also accept that these rules may change at any time for any reason the owner companies decide.
A currency who’s distribution, supply, and all other parameters are under the complete control of the owners. They can change the valuation or double the circulation. (Owners, not Users – FaceBook and it’s partners are the owners of the money)
A currency that can be used at FaceBook’s partner stores. It allows FB partners to pry into your spending habits in an unprecedented way. You may only use their money if they receive a cut of the money and all transactions are allowed only if FB decides it is okay for you to do.
A patch over an archaic banking system that is insecure, ridiculously slow, and very
expensive.
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