The difference between Bitcoin and Facebook's Libra

Coyster

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Quote from: SummerBliss on October 18, 2019, 06:57:05 AM

and will not be able to survive in long run.

This is one very essential point to highlight(emphasize), is it possible for libra to last a long period of time, if you ask me I'll say it is a no, taking a look at their setup and also their privacy issues, I think libra may not be able to last so long in the market, I even wonder what investors would be thinking going into this sort of investment.

Bitcoin may not be stable, but we all know it's potentials, this potentials it has kept up for the past 11 years or so and still counting, that alone is enough to show that bitcoin is way ahead of libra, there is no definite prove that libra may not last long, but till it does, the bitcoin is in a world of its own compared to it.

SummerBliss

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Quote from: MegaAnalysis on June 19, 2019, 04:14:07 PM

Here's a detailed article on this topic by CNBC:

cnbc .com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.html

In my view, the biggest difference between Facebook's Libra and the Bitcoin is that while Libra is a Stablecoin, Bitcoin is not!

Libra coin has still lot of development to be completed before its issue and being stable currency it might be used and adopted by large number of people but still btc cannot be compared with it as it has other level like pricing factor which fluctuates and gives huge returns to investors and moreover it is decentralized coin without any control which is not the case with Libra as it is owned by Facebook and will not be able to survive in long run.

riso2015

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If you see in terms of price stability, there are already many other stable coins before Libra. Bitcoin will still be excellent than others because of the influence of Bitcoin on the market very big. The Libra Project is still confused about their development, where they are currently being confronted with unfavorable issues so inhibiting further development.

xiboothrezi

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The article discusses the difference between bitcoin and Libra in terms of use cases, adoption, and volatility. In general, we know that Libra is predicted as a stable coin that will be used for mass adoption in various activities, initially involving activities on Facebook and related social media.
I embed a picture that shows the difference between Bitcoin and Libra, hopefully it makes it easier to understand it more clearly.

owengtam09

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Quote from: muratsink on June 19, 2019, 06:32:41 PM

I see that Libra adoption will be higher than BTC. with a coin stable system, Libra will have many users. Retail also will be more comfortable making Libra coin transactions. but in the long term, BTC can become an asset and compete with legendary assets such as gold. and Libra coin is not good for being a long-term asset.

Libra adoption will be higher is it also because of the power of Facebook, they are the owner so it is not hard for them to advertise libre while other coins are banned to advertise their coin to Facebook. Maybe Libra is also a good way to make bitcoin more open to others who still don't exactly know bitcoin.

lobster88

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I never been heard the Facebook Libra and this is just the first time. But what's important is that I have something new to meet in here that I need to take head on and learn about it. Crypto world is a very unending bunch of knowledge about crypto.

jx_pt

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Quote from: Lmaooo on October 16, 2019, 07:03:30 AM

Facebook Libra coin is stablecoin while bitcoin is not. Bitcoin is a peer-to-peer digital currency that is decentralized with no company behind it while Facebook Libra is a centralized stablecoin backed by more than 20+ different companies such as; PayPal, Stripe, eBay, VISA, MasterCard, Uber, LYFT, and many more others.

Many significant companies backed out... Outdated by a week or so.

Lmaooo

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Facebook Libra coin is stablecoin while bitcoin is not. Bitcoin is a peer-to-peer digital currency that is decentralized with no company behind it while Facebook Libra is a centralized stablecoin backed by more than 20+ different companies such as; PayPal, Stripe, eBay, VISA, MasterCard, Uber, LYFT, and many more others.

fullhdpixel

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Quote from: The3max on October 13, 2019, 09:37:39 PM

The difference is obvious, boy! Many people have previously commented that Libra will greatly affect Bitcoin, this is a wrong thought! Libra is a fixed currency used for payment on facebook platform, related partners. Bitcoin is widely used in many fields, being the leading exchange currency used by investors.

Actually, Facebook coin scope expands across the whole financial system, and that is why till date, it has been threatening government, if it was just designed as payment for their Facebook platform alone, I am sure that all these issues surrounding it from government and from individual would not have existed, but even with their wide scope of services, it will still be very much impossible for Facebook to have any negative effect over bitcoin.

One of the disadvantage of the coin is that it is a decentralized coin which is far from the objective of cryptocurrency and will make bitcoin remain the only significant coin that is truly a decentralized coin people wishes for, so If I may tell you, I am not scared of Facebook coin release, it will help me and will still not affect my use of bitcoin or affect my investment because the present community would never leave bitcoin for Facebook coin.

dentolas

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well, Libra is a stable coin with a centralized nature, that is backed by US government... BTC is none of these...
I think Libra may be the first attempt of the US to build their own "crypto"... US are owned by large companies like facebook and it would make sense to try to take the market using the millions of facebook users...
fortunately, it seems that the remaining actors on the game are aware and didn't follow them into the rabbit hole

jakoylantern

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Quote from: jarhed on October 14, 2019, 10:39:50 AM

Quote from: Xxmodded on October 14, 2019, 01:24:21 AM

I can't give specification about different between Bitcoin and Facebook's Libra because Facebook Libra still not found in exchange or we can find it what their website, for bitcoin is an investment and digital assets can use for sending or receiving money by using bitcoin as payment. Libra coin still do not have form and what will be of Libra coin after launching to the investor, become just an investment assets or Libra coin become digital e currency payment.

Facebook coin is not a direct competitor to cryptocurrencies, especially Bitcoin. It is a direct competitor to fiat money. I think that on the contrary, Libra will increase the number of participants in the cryptocurrency market in the future.

Yes, I agree with what you said because you will be curious about what is the other cryptocurrency ( if you don't have any idea about cryptos). But libra will have a stable coin, so some investors will not see it as an encouraging investment to them. But they will have a curiosity about other cryptocurrencies that might give them a hint to try bitcoin and another cryptocurrency.

jarhed

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Quote from: Xxmodded on October 14, 2019, 01:24:21 AM

I can't give specification about different between Bitcoin and Facebook's Libra because Facebook Libra still not found in exchange or we can find it what their website, for bitcoin is an investment and digital assets can use for sending or receiving money by using bitcoin as payment. Libra coin still do not have form and what will be of Libra coin after launching to the investor, become just an investment assets or Libra coin become digital e currency payment.

Facebook coin is not a direct competitor to cryptocurrencies, especially Bitcoin. It is a direct competitor to fiat money. I think that on the contrary, Libra will increase the number of participants in the cryptocurrency market in the future.

eaLiTy

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Quote from: clickerz on October 13, 2019, 09:14:05 PM

I am excited with this Facebook Libra Project because it is backup by large corporations, I am banking on their legitimacy,transparency and being stable for being leader in industry.

The backing of large corporations are gone now and the interesting thing about Libra is that it has so much hype even before the release of the coin and yet we are not sure whether they will be able to release them in the first place. So the main difference is we are comparing Libra with a real coin and an unreal fantasy of facebook Tongue

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Quote from: clickerz on October 13, 2019, 09:14:05 PM

Sad to say, I read that Paypal is backing out with this project because of some problems and being investigated by government. I wish that other backers will not follow to back out. Hope so.

What do you think why paypal backed out from their development, a fallout with the team of facebook Tongue

. The authorities will be putting pressure on these companies and it is a reality that they will back out if they want to continue their business in the US.

Xxmodded

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I can't give specification about different between Bitcoin and Facebook's Libra because Facebook Libra still not found in exchange or we can find it what their website, for bitcoin is an investment and digital assets can use for sending or receiving money by using bitcoin as payment. Libra coin still do not have form and what will be of Libra coin after launching to the investor, become just an investment assets or Libra coin become digital e currency payment.

The3max

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The difference is obvious, boy! Many people have previously commented that Libra will greatly affect Bitcoin, this is a wrong thought! Libra is a fixed currency used for payment on facebook platform, related partners. Bitcoin is widely used in many fields, being the leading exchange currency used by investors.

Sithara007

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Quote from: clickerz on October 13, 2019, 09:14:05 PM

I excited with this Facebook Libra because it is backup by large corporations, I am banking on their legitimacy,transparency,being stable for being leader in industry. Sad to say, I read that Paypal is backing out with this project because of some problems and being investigated by government. I wish that other backers will not follow to back out. Hope so.

I guess your information is outdated by a few weeks. After PayPal withdrew from the project, there were more companies pulling out. The most important of them being Visa, Mastercard, Stripe and eBay. And I heard that with the exit from these companies, Libra is now devoid of a major payment processor. The Dutch payment company PayU is still there, but they are not as big as Visa or Master.

clickerz

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Quote from: yurekaa on October 12, 2019, 09:24:21 PM

obviously libra and bitcoin are very different. Libra adopts a centralized system because it was created by Facebook and will be controlled by the Libra association which consists of several large companies such as Mastercard, Paypal and Visa. so I think libra will be a stable coin. whereas decentralized bitcoin has nothing to regulate and control so the value is very volatile. because of this fluctuation most people use bitcoin for investment tools. and in my opinion libra will be used for daily transactions because of its stable value.

I am excited with this Facebook Libra Project because it is backup by large corporations, I am banking on their legitimacy,transparency and being stable for being leader in industry. Sad to say, I read that Paypal is backing out with this project because of some problems and being investigated by government. I wish that other backers will not follow to back out. Hope so.

jx_pt

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Hello, follow my 5 cents contribution at why libra is different from bitcoin (and most altcoins). Hope I will not offend anyone. I believe people tend to trust legal institutions with history to see what to expect. The familiar is more comfortable then the unknown. Facebook, PayPal, eBay, MasterCard, Visa are companies, people know what companies are, know they are (at least in theory*) bound by laws, if something goes wrong, they can (at least in theory*) try a case in court...

"Man is the only animal whose desires increase as they are fed; the only animal that is never satisfied."
Henry George

* There is no perfect system, we should try to think and build better ones. Evolution and Revolution can be dangerous concepts... Use them with care, weighting and balance.

ashmodeus

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the real difference bitcoin and libra is
bitcoin created by good people(well i can say that i guess, since himself never sell their coins), with mission to satisfy the human need to facilitate the transaction between people, remove third party, and no regulation,basicaly.
and what libra ?
libra created by sucks people who stealing people privacy, with mission for conqueror the world with their money digital, and dominating the world.

Quote from: zeribez on October 13, 2019, 06:05:53 AM

We are just enthusiastic about Libra. Libra is not the only stable coin in existence, so what is so special about its stability? Comparing Libra with Bitcoin is just an exaggeration.

i am not, what the special about libra ? i cant seeing it.

cryptoknightt

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if you compare facebook coin with bitcoin then I think it's very unnatural because this libra has a very large number of coins while the total supply of bitcoin is limited and has a very high demand already makes libra lose.

Topic: The difference between Bitcoin and Facebook's Libra (Read 827 times)