The difference between Bitcoin and Facebook's Libra - page 3.

funchiestz

sr. member

Activity: 1134

Merit: 342

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!

The section that attracted my attention the most;

Quote

Libra is coming to market with a lot of powerful players behind it…including Mastercard, Uber, Booking Holdings, Visa, which Cannacord Genuity says should help Libra achieve mass adoption.

“There’s [a] good opportunity to get a lot of adoption…whereas bitcoin was a grass roots experiment that is still in development,” said Michael Graham, analyst at Canaccord Genuity to CNBC.

So, then we can't think of Libra as a direct competitor to Bitcoin. We may call a new solution located between traditional payment methods and Bitcoin.
Libra will increase adaption to all projects based on Blockchain, especially Bitcoin in the near future.

Quote

Libra’s low fee transaction should incentivize customers to use the token to send money, analysts said. Bitcoin, on the other hand, got more expensive and slower in conducting transactions.

But I don't agree with that. Bitcoin transaction fee is not stable. There are high figures for today. But this may change in the future. Therefore, we cannot say that this comparison is very accurate.

As a result, it is true that Libra has begun to mobilize the market. But we will see together what will be the result later.

migws

jr. member

Activity: 65

Merit: 1

Quote from: Youghoor on September 30, 2019, 09:51:33 PM

Its funny how people can easy make comparison between Bitcoin and a coin that hasn't been listed or made available for people to use. Libra is just a stablecoin version of Ripple since both kinda have similar ideology. I think its a bad idea to compare Bitcoin to Facebook's Libra.

Perhaps the author of this tread was looking for an explanation of why people on the Internet compare Bitcoin and Libra? I saw a lot of posts on social networks that Libra stablecoin will be the killer of bitcoin (it sounds very funny, like a fact that Facebook ensures the privacy hahaha Grin

)

babysweetTiger0401

sr. member

Activity: 777

Merit: 251

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!

Are you joking or serious when you say Libra is stablecoin and Bitcoin isn't? Have you ever thought that Bitcoin has been a decade in the digital currency industry? What about you? so far as it has yet to launch and it is not yet known when it will happen, nor has the token been purchased yet, so you say stable coin instead of bitcoin, for some years bitcoin has been used for pounds unused. Hope before you post here you think it very well first.

Youghoor

sr. member

Activity: 1036

Merit: 275

Its funny how people can easy make comparison between Bitcoin and a coin that hasn't been listed or made available for people to use. Libra is just a stablecoin version of Ripple since both kinda have similar ideology. I think its a bad idea to compare Bitcoin to Facebook's Libra.

Reosta_

member

Activity: 994

Merit: 20

Libra has become very popular before even listing on the market. I can say too that I know the main difference. Libra is stablecoin and I think Libra is closer to be a local currency compared to Bitcoin.

UsernameBitcoin

sr. member

Activity: 530

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Facebook Libra is a centralized going which cannot be compared to bitcoin. Yes it may be a cryptocurrency, but when one company controls it, it's basically defeats the purpose of what crypto is all about, which is independence.

Lalafell

sr. member

Activity: 812

Merit: 250

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 is built on a secure, scalable, and reliable blockchain. It is fully backed by a reserve of real assets. A basket of bank deposits and short-term government securities will be held in the Libra Reserve for every Libra that is created, building trust in its intrinsic value. While bitcoins are created as a reward for a process known as mining in the computer. They can be exchanged for other currencies, products, and services.

SquallLeonhart

legendary

Activity: 2352

Merit: 1101

Quote from: tiedcoin on August 24, 2019, 10:17:26 PM

There are major differences between Bitcoin and Facebook’s introduction Libra. Bitcoin is a highly volatile asset and fluctuations in its price are frequent. Libra on the other hand, is more of a stablecoin that is backed by actual currencies (USD, EUR) and commodities (Gold, silver).
Libra aims at becoming a more main-stream crypto currency and decreasing the factor of risk from crypto trading. It seems that in the future, Bitcoin will become a more investment asset like real-estate or gold.

Even at the moment, people are beginning to hold bitcoin as store of value despite its volatility because they all believe in the future of bitcoin, Facebook on the other side may also not be restricted to stable coin alone, because they will want to create a coin that also have volatility based on what one of them said, he claim that Libra coin will also serve as digital assets but will in no way compete with bitcoin, so we can still expect some sort of volatility in the coin too so that people can benefit from holding it.

One main reason why it would never beat bitcoin is because as we know that bitcoin is still the only coin that seems to be operating on a decentralized platform which is why majority of its users is seriously holding on to it as the most reliable coin.

tiedcoin

jr. member

Activity: 89

Merit: 2

There are major differences between Bitcoin and Facebook’s introduction Libra. Bitcoin is a highly volatile asset and fluctuations in its price are frequent. Libra on the other hand, is more of a stablecoin that is backed by actual currencies (USD, EUR) and commodities (Gold, silver).
Libra aims at becoming a more main-stream crypto currency and decreasing the factor of risk from crypto trading. It seems that in the future, Bitcoin will become a more investment asset like real-estate or gold.

premiumgifts

copper member

Activity: 22

Merit: 1

Always Forward

i would never want to invest in a centralized coin. to much can go wrong imo

Carreuh

full member

Activity: 560

Merit: 101

Although both are digital eyes, bitcoin and libra differ both in terms of quantity quality or in other terms, libra is more used for daily activities, for example to transfer money and the like but bitcoin is more used for trading and investing in large amounts and bitcoin already existed from libra

CryptopreneurBrainboss

legendary

Activity: 2240

Merit: 4133

eXch.cx - Automatic crypto Swap Exchange.

Apart from the decentralized and centralized, use of blockchain or not debate, i think the major difference will have to do with how your privacy is been handled. Libra just like Facebook will steal your privacy, sell them for profit or to profile you meanwhile bitcoin gives you anonymousity to some extent over yoyr privacy especial when you don't make use of 3rd party service providers that requires your carryout a KYC procedures like the centralized exchanges or wallet providers and even when you do, the use of mixers can be very effective.

danick7

newbie

Activity: 2

Merit: 0

Bitcoin is decentralized, and it is anti-censorship.

It also has more volatility, because it is not backed by fiat currencies.

Gondar8393

newbie

Activity: 47

Merit: 0

The main difference is Bitcoin's decentralized, Libra's centralized

tiedcoin

jr. member

Activity: 89

Merit: 2

Bitcoin and Libra are both crypto-currencies, but in theory and practice are a lot different from each other. Libra has attempted to cement its place as a medium of exchange in the crypto market. Whereas, Bitcoin has been widely used and regarded as an investment and valued stored.
Bitcoin works mainly without intermediaries and Libra is trying to manage finances with a system. Bitcoin is truly decentralized. Whereas, Libra is only partially a crypto-currency since it is not decentralized.

Herros

member

Activity: 280

Merit: 10

Libra tends to be used for everyday transactions that are commercial, such as sending money, buying houses, and other things online.

While Bitcoin as an investment and storage warehouse value because of its fluctuating nature.

dimastegar

sr. member

Activity: 798

Merit: 251

Small Trader

I am looking forward to how Libra will be used later. What are the utilities that Facebook makes for their coins and how the ecosystem they create. Possibly, they will create an additional platform to support Libra coin utility.

Boriss

full member

Activity: 728

Merit: 115

I cannot even understand why people are comparing this two when they are not even on the same level, they do not even stand for the same values.

One thing was open source project while other one will be Frankenstein made with corporate money that serves only one goal to jeopardize even more freedom while at the same time steeling your privacy to sell you even more stuff that you could buy with their currency.

What is even more disgusting is the fact that people will eventually accept something like that because it's convenient and effortless. Just take a look on how much online tabloids people are commenting daily events with their Facebook account.

felicita

legendary

Activity: 1582

Merit: 1031

lets ee what happens with the facebook coin .
After he crashed on the real Exchange i guess the coin is also a big fail.
I hope no one invest in this faceshit.

regards

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: ubay on July 11, 2019, 12:02:29 PM

I think Libra is like PayPal, but uses the blockchain as an infrastructure in it. That's good, because the more people use blockchain, then indirectly promoting bitcoin.

Indirectly it will promote blockchain usage but I doubt if it would promote bitcoin usage. Most of the pro-facebook users are dumbfucks who dont understand a thing about how this world works and how multinational companies are trying to take over all their data. They dont give a shit about privacy or being rebellious about all this big data thing and they consider bitcoin as a ponzi again because of their lack of knowledge.

I have doubts whether Libra will actually make anything bullish in the crypto market or just try to draw the crowd from bitcoin to libra like all other shitcoins have tried to do.

Topic: The difference between Bitcoin and Facebook's Libra - page 3. (Read 827 times)