What's bitcoin worst case scenario if Libra will be successful?

FlamingFingers

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Quote from: jonathan6655321 on June 26, 2019, 07:33:29 AM

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

There is no worst scenario for bitcoin if Libra coin succede, it's gonna help the General market cap of cryptocurrency entirely, I could remember when Libra coin was first announced, bitcoin price soar high tremendously, Libra coin cannot overthrow bitcoin no matter who are behind the development of Libra coin,

d3nz

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It could change the payment method of other services or replace it with libra, but i don't think its gonna happen since people will still choose bitcoin and Libra is centralize which can be controlled by Facebook team.

And i can predict that Libra coin can go uptrend once they launch it and we can take advantage having some shares, if you know what i mean.

Katashi

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The only worst case scenario that i think of is if Libra become successful because of Bitcoin holders converted their holdings into Libra coin then we might experience a big dump of price for Bitcoin which i think not gonna happen because Libra is a stablecoin that most of the holders don't want to invest in since its not offering a big profit for investment.

Arsenyo

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It doesn't matter whether Libra will be successful or not, it won't affect bitcoin in any case. Libra is a centralized stable coin controlled by a big corporation. That's it. It is definitely not a threat for bitcoin, decentralized number one coin. I see no reason to even suppose that stable coin could replace bitcoin or harm it.

bitcoworld

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Quote from: jonathan6655321 on June 26, 2019, 07:33:29 AM

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Libra will be nothing else then a regulated stable Coin where very Transaction will be shared to the Government and also Used for Real-Time Bidding is how the Ads call on Facebook to give you extremely targeted advertising. Also Libra will be able to suspend your Account of usage or just forbid you to use the Network etc.

Bitcoin solves all this. He is private and nobody can forbid you to use it. Nobody controls your Wallet except yourself.

Astvile

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The only worst case I can think of if Libra will be successful is Libra taking bitcoins place in the CMC and nothing more, but I have a doubt that it will be in that case because I can't see Libra be that strong. There are a lot of established stable coins already and non of them got near to beating bitcoin so I think Libra is still not gonna be beating Bitcoin.

Sithara007

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Quote from: yazher on October 07, 2019, 09:05:18 PM

Bitcoin will not get affected even though they will launched Libra successfully. just like XRP when they introduced it to us, they say, we will forget the use of bitcoin if it launched. now look what happen, XRP will be soon forgotten. Judging with pay pal leaving the partnership with Libra, there's no other explanation with it if not pay pal realize this Libra project is nothing like bitcoin. like the other altcoins, it will only blooms on his premiere, days will past it will soon forgotten. this is my opinion regarding your questions.

A centralized currency such as Ripple or Libra would never be able to replace Bitcoin. Most of us use Bitcoin because it is not controlled by the central banks and also due to the fact that the transactions can't be reversed. These advantages are not available in Libra and XRP. I am sure that Libra, upon its successful listing will be able to attract a lot of users. But these users won't be poached from Bitcoin. They will be new users and most of them would have never used any cryptocurrency before. Libra is a digital form of fiat and therefore it will be attracting fiat currency users rather than users of decentralized cryptocurrencies such as BTC and ETH.

Flooks

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Quote from: yazher on October 07, 2019, 09:05:18 PM

Bitcoin will not get affected even though they will launched Libra successfully. just like XRP when they introduced it to us, they say, we will forget the use of bitcoin if it launched. now look what happen, XRP will be soon forgotten. Judging with pay pal leaving the partnership with Libra, there's no other explanation with it if not pay pal realize this Libra project is nothing like bitcoin. like the other altcoins, it will only blooms on his premiere, days will past it will soon forgotten. this is my opinion regarding your questions.

The libra is a stable coin, so Bitcoin will suffer. Bitcoin will take most of the liquidity in the cryptocurrency market and beyond. Libra, in fact, is a new generation of USDT.

bryant.coleman

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It is very disturbing that 99% of the Bitcointalk users don't want to talk about the advantages that Libra can bring to Bitcoin. They only want to talk about the negative points. I agree that Libra can become a competitor to Bitcoin. But how much competition can Libra pose? Can it be a threat to the survival of Bitcoin or can Libra cause a decline in the Bitcoin user base? The answer is no.

First let's examine how much competition Libra can pose to Bitcoin. From what I have heard, Libra is going to be a stablecoin. It will be backed up with either US Dollar funds, or other assets that are denominated in USD (I don't have much details on the type of these assets. They can be treasury bonds, equities or even real estate). Under such circumstances, the real danger from Libra is directed towards stablecoins such as Tether and not towards volatile cryptocurrencies such as Bitcoin.

yazher

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Bitcoin will not get affected even though they will launched Libra successfully. just like XRP when they introduced it to us, they say, we will forget the use of bitcoin if it launched. now look what happen, XRP will be soon forgotten. Judging with pay pal leaving the partnership with Libra, there's no other explanation with it if not pay pal realize this Libra project is nothing like bitcoin. like the other altcoins, it will only blooms on his premiere, days will past it will soon forgotten. this is my opinion regarding your questions.

cotton ball

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Bitcoin still fine how ever success or not Libra coin at the future when open selling to the public, look how success of ethereum altcoin but do not destroy dominance of bitcoin and impossible have the same or higher price like bitcoin, bitcoin is the king of cryptocurrency and impossible there are competitor have the same price with bitcoin.

Youghoor

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Quote from: jonathan6655321 on June 26, 2019, 07:33:29 AM

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Ethereum and other altcoins are very successful considering their market cap and volume but these crypto coins haven't been able to destroy Bitcoin in know way. Libra might have good plans laid out but it has no chance to destroy Bitcoin. Bitcoin is the father and king of cryptocurrency. Bitcoin introduced blockchain technology and this technology runs cryptocurrency....

MathGame

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Quote from: jonathan6655321 on June 26, 2019, 07:33:29 AM

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

No matter how successful the Libra gets it would only take away the market domination. Libra won't kill bitcoin because bitcoin is the first peer-to-peer digital currency that is truly decentralized and not controlled by anyone. We all know the Libra is going to be centralized just like Ethereum, Ripple and many others.

Ayiranorea

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Quote from: dimastegar on October 07, 2019, 05:49:49 PM

Quote from: jonathan6655321 on June 26, 2019, 07:33:29 AM

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Libra is included in Altcoins. So, I don't think Libra will influence Bitcoin too much. We know that Libra will come with a good utility. But again, that is not a threat to Bitcoin.

Yes, already it is an altcoin. This will make influence around as a everywhere usable asset as Facebook has got its network being established all over the world. Apart from this it is a Stablecoin, and this too isn't a threat to the bitcoin. Most of the users who prefer bitcoin were to experience good earning out of its volatility.

dimastegar

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Quote from: jonathan6655321 on June 26, 2019, 07:33:29 AM

I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Libra is included in Altcoins. So, I don't think Libra will influence Bitcoin too much. We know that Libra will come with a good utility. But again, that is not a threat to Bitcoin.

Reosta_

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We know that Facebook Libra is a stable coin and this is the essential difference between Facebook Libra and Bitcoin. But Libra is already being banned in many countries before even listing. However, if Libra can be successful in the future, I think it can be used as a local currency of countries. Then, Bitcoin may lost its importance significantly.

ardentvolcanoes

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Quote from: mr3dds on October 07, 2019, 12:20:10 PM

I think Libra will be very successful, but I don't think that this will affect on BTC. However, BTC might have to descend from the throne.

I think Libra will have the biggest market cap if it got implemented well in what's app and messenger.

We never know what will the future bring to this project, with so many negative news about this project the only thing that will makes it successful is the
usages that it will bring to the industry. It is a centralized project and the sure thing is it will be use as what it serves originally.

Don't have idea if how crypto lovers will embrace centralized project. Will wait till time reveal after the full implementation of this coin.

mr3dds

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I think Libra will be very successful, but I don't think that this will affect on BTC. However, BTC might have to descend from the throne.

I think Libra will have the biggest market cap if it got implemented well in what's app and messenger.

akar87

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Libra is not part of cryptocurrency until right now, we don't know what is platform kinds of Libra so far, they are cryptocurrency or only digital currency like PayPal. So success or not of Libra Facebook coin do not have effect for bitcoin and altcoin at the future, want success on public or not there are the same thing with bitcoin.

aces777

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I do not think that the success of Libra coin would directly or indirectly cause any problem for bitcoin. I believe they can co-exist in the crypto market and do well for themselves as individual coins. The crypto market is big enough for any coin to grow in and become successful, without directly altering the fate of another.

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