Topic: The difference between the Facebook platform "LIBRA" and Bitcoin - page 2. (Read 406 times)

Libra users are those who "live" on Facebook's platforms, such as Instagram, WhatsApp, and Messenger. Meanwhile, Bitcoin can actually be used to transact or buy goods online.
In terms of usage, Libra is a means of transportation where users can send money and other transactions. On the other hand, Bitcoin is approved to be a platform that facilitates transactions, and is considered more as an investment itself.
Transaction compressors are built from the ground up to be fast and inexpensive. Unlike bitcoin, which requires still expensive,

However, this crypto currency has not been declared as a commercial payment system and has not been regulated by a banking organization.
Make people need Bitcoin as an investment and storage warehouse because of its fluctuating nature.

Libra is a stable crypto currency, supported by currencies and the securities sector. Bitcoin is a crypto currency that is very easy to change

Despite it looks like all the others shitty coins (see altcoin announcement board) when reading its whitpaper, but with all the declared partnerships, I can confirm that this is not a usual bubble (maybe unusual) or a fake project. But this is not a guarantee that it will be a successful milestone for Facebook, or as a concurrent/replacement of bitcoin for several reasons; it's a centralised monitored crypto with no even a public blockchain (as i understood) and we can't expect a large adoption of it and we will be waiting for updates from its team, exactly like we use FIAT with banks.

IMO, it will be a threat for banking not for bitcoin, as it maybe threats some other cryptocurrencies like Ripple or Verge.

We will see..

How stable this coin will be, when bad things happen, like share price goes down, exploits showing up, insider steals coins, Dollar gets devaluated etc.?

hahaa, good point. Personally I don't consider Libra as an opponent of Bitcoin, no, these two are far, far away from each other, word crypto doesn't unite them. But Libra can be considered opponent of Ripple, fight might be between these two. People who prefer privacy, won't use it. For privacy, to my mind opponents are bitcoin and monero.
Btw I highly doubt if anyone has argument that it may protect your privacy, even facebook, website doesn't care about it and will their product consider it? No of course, they'll just monitor what you buy, how you spend money and that will be great for their marketing strategy, that's all.

 That's blatant misinformation.  Bitcoin value does not continue to decline; it is increasing exponentially.

Bitcoin is like gold, Libra is more like dog poo in privacy matter. Why not use PayPal or CC instead of Libra?

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.

Recently, the giant social networking company, Facebook, launched the cryptocurrency called "Libra".

Libra can be used for general digital transactions, from sending money between users on the Facebook platform, to buying items purchased on e-commerce platforms.

Even though Facebook was launched, Libra was managed and compiled by associations under the name "Libra Association". Put big players in the technology and financial realm to join in, such as Visa, PayPal, MasterCard, and so on.

Libra is planned to be launched in early 2020. However, it is not yet known whether Libra will be present in all countries completely or not.

Because the essence of Libra is used online, Facebook relies on blockchain technology. That way, this digital currency can be said to be similar to Bitcoin. So what's the difference?

                  Difference between Libra and Bitcoin

Libra and Bitcoin can both be exchanged for cash. All transactions are announced in cyberspace safely thanks to blockchain technology. Even so, the target audience of each crypto currency is different.

According to General Partner Blockchain Capital, Spencer Bogart, Libra is used for everyday transactions that are commercially opposed, such as money transfers, home purchases, and other things online.

Libra users are those who "live" on Facebook's platforms, such as Instagram, WhatsApp, and Messenger.

Meanwhile, Bitcoin can also be used to transact or buy goods online. However, this crypto currency has not been declared as a commercial payment system and has not been regulated by a banking organization.

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".

The next difference questions the stability of the exchange rate. Bitcoin is not regulated by banking or government organizations because its essence is independent and open.

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.

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,