Topic: The difference between the Facebook platform "LIBRA" and Bitcoin (Read 412 times)
So Libra coin would be like USDT then, I can't imagine how it'll happen on 2020 because Facebook have more than 2 billion users and even if not all of it uses the coin but the majority will surely uses it in the long run especially those FB live streamers. The good main point that I only seeing in this is that Mark Zuckerberg is entering the realm of cryptocurrency and it's automatically hyping and pumping the price of Bitcoin.
When such large companies as Facebook enter the cryptocurrency market, it stimulates the interest of users who have not previously used crypt, but want to invest in the project
You're right. This serves as a boost for cryptocurrency to have many investors. All I know that Libra Coin is just for payment on other platforms(this includes facebook). Although it is given that it will stimulates investors, why don't we use paypal or any other payment methods? What edge makes facebook coin better than other methods? The forecasts for the cost of Bitcoin that were made at the beginning of the year were not deceived. Bitcoin really almost took the position of 10,000 by mid-summer. In a place with the release of the libra koin, this can give an impetus for young people to start using cryptocurrency.
If a large number of thousands of years begin to buy cryptocurrencies, it can be a problem both for the market and for profit. Many newbies do not study crypto investing, they want results. But immediately investing is short-sighted, it is better to get at least basic knowledge, for example, taklimakan offers educational articles. And only then try cryptocurrency. Since, like a sharp increase, we can expect a sharp decline due to the number of unsuccessful transactions on the part of beginning investors.
The forecasts for the cost of Bitcoin that were made at the beginning of the year were not deceived. Bitcoin really almost took the position of 10,000 by mid-summer. In a place with the release of the libra koin, this can give an impetus for young people to start using cryptocurrency.
When such large companies as Facebook enter the cryptocurrency market, it stimulates the interest of users who have not previously used crypt, but want to invest in the project
The new wave of investors can not only improve the situation on the market, but also serve as a trigger for mass attacks on wallets and stock exchanges. Therefore, you should be even more attentive.
When such large companies as Facebook enter the cryptocurrency market, it stimulates the interest of users who have not previously used crypt, but want to invest in the project
Can the launch of cryptocurrency Facebook can be a factor for the growth of Bitcoin? It is not excluded, since investments mainly in large currencies are made using Bitcoin. And I think Facebook is no exception.
The reason a lot of crypto currencies existed is because bitcoin existed. Without bitcoin and the Blockchain technology, crypto currency is not possible. That is the same with the coin which will be released by Facebook but it is not made using bitcoin. As far as I know, Libra is not that decentralized as bitcoin so in terms of that, I will always choose bitcoin.
Can the launch of cryptocurrency Facebook can be a factor for the growth of Bitcoin? It is not excluded, since investments mainly in large currencies are made using Bitcoin. And I think Facebook is no exception.
The success of libra will benefit bitcoin more as it has a head start in this ecosystem and knowing the reach facebook has... they need a legal team to visit most parts of the world to have a memorandum of understanding for its use in the different jurisdictions.
this difference may be like stable coins and coins that easily experience increases or decreases. Libra was created to be one of the most stable coins and today Bitcoin was created to become a coin with prices that could experience increases and decreases. that is one difference between bitcoin and libra
That is, the value of the Bitcoin exchange rate can be "played" wildly by people who are involved in this realm. This causes the value of Bitcoin to rise and fall very quickly.
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Meanwhile, the promised Libra exchange rate will be more stable. Apart from being supported by a qualified banking association, Libra also balances its exchange rate from the combined activities of leading currencies, including the US Dollar, Pounds Sterling, Euros and Francs,
The only "qualification" is an expertise in separating you from your money. Libra is just an attempt to salvage an antiquated banking system by adding another layer on top. Do you think banking will be better for you if you add more bureaucracy, more mouths to feed?, please.
Actually, I don't learn deeper and significantly yet about the coin from Facebook, "Libra". The thing that I know firstly is about their characteristic. Libra will be such stable coin and Bitcoin is not. Bitcoin is volatile and it may sometimes have very great value, very big value, but sometimes it can go down dramatically. But for Libra? Who knows about the next.
There is no way it will be like Bitcoin. Bitcoin cannot be seized, Libra will be monitored and your funds can almost certainly be seized.
The difference is the privacy of the user Bitcoin gives us freedom and anonymity and it is decentralized,
While on the other hand Libra would be centralized and our funds on that crypto would be monitored.
It would be just another shit coin back up by a well known company named Facebook so it wouldn't really be a threat on Bitcoin instead it would only help the crypto community grow.
While on the other hand Libra would be centralized and our funds on that crypto would be monitored.
It would be just another shit coin back up by a well known company named Facebook so it wouldn't really be a threat on Bitcoin instead it would only help the crypto community grow.
there is so much comparison between libra and bitcoin but if we see positive side with the launch of libra crypto currency volume increased so libra is going to bring new money to market but technically there is no comparison between the two
The biggest difference is that you need to pay $10,000,000 to be a full validating node in Libra. Yes, 10 MILLION DOLLARS and Facebook's permission.
Bitcoin is open, and permissionless.
Bitcoin is open, and permissionless.
Libra would be centralized and highly monitored. It may be a easy cash to take with you, you should be very careful with dealing with larger transactions.
Bitcoin is a distributed currency with no one actually owing the system. It all remains between the peers.
Bitcoin is a distributed currency with no one actually owing the system. It all remains between the peers.
too much power for a small number of corporations, could be also a way to help tracking your crypto operations
I find some points about differences rather weird, so I'll comment on them.
And you forgot to emphasize some important points: Libra is a coin by a company that is known for privacy violations, while Bitcoin is all about privacy. Libra is centralized, so not 100% a cryptocurrency, whereas Bitcoin is decentralized, thus providing financial freedom.
the target audience of each crypto currency is different.
How so? Basically, in both cases, it can be potentially anyone, but mainly middle-class young adults, no?Most people make Bitcoin an investment and store of value because of its fluctuating nature. Although currently the value continues to decline, there are still many who believe Bitcoin is "digital gold".
Sure, people do make investments in Bitcoin, and I bet some will also invest in this Libra coin. But Bitcoin price continues to decline, seriously? From what I see it's growing, and doing so rather rapidly since April and especially over the last days.And you forgot to emphasize some important points: Libra is a coin by a company that is known for privacy violations, while Bitcoin is all about privacy. Libra is centralized, so not 100% a cryptocurrency, whereas Bitcoin is decentralized, thus providing financial freedom.
There is no comparision between libra and bitcoin both are different Facebook libra is centralized coin where as bitcoin is 10 years old coin
Another important difference: Bitcoin can be mined, and Libra can not.
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