I can't see anything about destroying Bitcoin with LIBRA.
I always think that this LIBRA or Facebook coin will be a good support for cryptocurrency especially BTC.
What should we do i to ask people what is the best help that LIBRA can do to BTC?
Topic: What's bitcoin worst case scenario if Libra will be successful? - page 2. (Read 8998 times)
October 02, 2019, 06:40:29 AM
October 02, 2019, 06:34:54 AM
There is no worst scenario for bitcoin if Libra will be successful
It can be very positive even if Libra will pass all that regulatory hurdles
i don"t think people will trust Libra much me not for sure
Dangerous in Libra can be that Libra will be kind of corporation money
Next corporation can follow.World owned by corporation is last what i want to see
It can be very positive even if Libra will pass all that regulatory hurdles
i don"t think people will trust Libra much me not for sure
Dangerous in Libra can be that Libra will be kind of corporation money
Next corporation can follow.World owned by corporation is last what i want to see
October 02, 2019, 01:02:13 AM
I don't understand why everyone assume that Libra is going to be detrimental for Bitcoin. It can be the other way around. Libra and Bitcoin can co-exist and supplement each other. Since Libra is patented by Facebook, the government authorities are not likely to be very hostile towards it. And this can help Bitcoin as well, in achieving a clear legal status in many of the countries. Libra is likely to attract large numbers of mainstream and institutional investors, and many of these investors may also consider Bitcoin at some point in the future. There can be both negatives and positives for Bitcoin. But it will be wrong to concentrate just on the negatives.
October 02, 2019, 12:13:12 AM
If Libra is released and succeeds, then Bitcoin may lose some of its capitalization. In this case, people will invest part of the funds in Libra for circulation as a means of payment. Therefore, bitcoin will partially lose its influence as a means of payment. However, in general, nothing will change much.
However, I doubt that Libra will ever be released at all.
However, I doubt that Libra will ever be released at all.
September 03, 2019, 01:47:30 PM
when libra is nt being launched in market Libra gave all necessary publicity for crypto and finally out of business
August 27, 2019, 04:00:57 AM
The two cryptocurrencies are compared but I don't think each of them can really affect the other one. There are new coins that are always being compared to bitcoin and Libra is just one of them. Libra has a different structure and it requires different regulations. It is going to be an equity-backed asset which is going to be good for this project and also stable coins minimizes volatility. Bitcoin as we know is different from this this aspects.
August 27, 2019, 02:40:48 AM
I do not think bitcoin will be destroyed if the Libra coin is successful, on the contrary the success of Libra will most likely jack up the bitcoin to become bigger and higher in price. bitcoin is limited in number if the more requests to buy of course the higher the price and if libra is successful the crypto users will be more and it will affect the price of bitcoin to be higher.
bitcoin is currently the king of crypto and will not be easily replaced. maybe until the next few decades bitcoin will remain the king of crypto.
The case you say is possible when libra has too many connections with the crypto world, and we are also clear that bitcoin is the one that gets the most attention, with the success of libra coin, which will be free advertising and help bitcoin get more investors. However, if libra does have too much success, I feel this will be a threat in the future of bitcoin because governments of countries do not like underground activities in bitcoin, they need publicity, and libra coin probably allows them to do that, the government will actively support libra coin to compete with bitcoin bitcoin is currently the king of crypto and will not be easily replaced. maybe until the next few decades bitcoin will remain the king of crypto.
August 27, 2019, 02:31:05 AM
After the Government is through with the check, the Libra coin might be left with nothing. Most of the strong support are reconsidering their state in the project, which may affect public opinion on the project. I didnt expect a big organization like facebook not to have done their inquiry before they venture into the project, If the project will ever be launched at all it will take a long time and the product may not serve all the purposes previously stated.
August 27, 2019, 02:20:41 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?
I wonder what's your opinion about it?
What can be the worst case when it comes to Libra and Bitcoin?
Libra Coin is a stable coin backed by fiat money. This will make fiat money circulation increase and possibly will make the price of bitcoin rise. Bitcoin and Libra Coin users are different so in my opinion Libra Coin has no effect on bitcoin because bitcoin is now starting to be used as a store of value and not as a peer to peer payment tool
August 27, 2019, 01:02:33 AM
I really cannot think of a worst case scenario for bitcoin but let us say Libra is successful so well, it will not be bad for bitcoin but bad for others like paypal.
that is if libra will become succesful but i heard that facebook might cancel it and that news might be true because as of now there are no new news regarding on the status of libra coin but let say it won be cancell i still dont think that paypal and other payment methods will be threatened except from bitcoin and other cryptos because they are all centralized but libra and bitcoin are both decentralized since both are cryptocurrencies . 
August 26, 2019, 11:58:32 PM
I really cannot think of a worst case scenario for bitcoin but let us say Libra is successful so well, it will not be bad for bitcoin but bad for others like paypal.
Because if i am using libra and I love it so much,,, why would I want to use Paypal if the same things can happen with Libra but with cheaper fees and more transparent use?
Bitcoin is superior still anyone can see that.
Because if i am using libra and I love it so much,,, why would I want to use Paypal if the same things can happen with Libra but with cheaper fees and more transparent use?
Bitcoin is superior still anyone can see that.
August 26, 2019, 11:46:58 PM
I do not think bitcoin will be destroyed if the Libra coin is successful, on the contrary the success of Libra will most likely jack up the bitcoin to become bigger and higher in price. bitcoin is limited in number if the more requests to buy of course the higher the price and if libra is successful the crypto users will be more and it will affect the price of bitcoin to be higher.
bitcoin is currently the king of crypto and will not be easily replaced. maybe until the next few decades bitcoin will remain the king of crypto.
bitcoin is currently the king of crypto and will not be easily replaced. maybe until the next few decades bitcoin will remain the king of crypto.
August 26, 2019, 10:51:34 AM
It's a lie if the arrival of Libra doesn't have any effect on bitcoin. Facebook is a very large company, they can very easily create advertisements and display their products, and there are millions of people who will see these ads. let alone the desire of its founder to make libra as the main cryptocurrency, we cannot take it easy. OK, most crypto users are aware that Facebook and Libra will not be completely anonymous because they are true identity thieves. but we know that new users will certainly see which ones are often seen and libra has a high advertising intensity.
No one is saying that Libra will not have its own use case, it will have and we are also aware that it will become successful because of the popularity of the company in charge of it as you said, but no matter the popularity they have, they will still never beat bitcoin, because when it comes to digital payment, we have lots of digital payments in the market, we have alipay there, so tell me why china will ever accept, we have PayPal that we world is already used to, and we have some individual payments from countries, so why would a country give out that power. Countries will be the first to fight against it, and the world, they block them from using Facebook, till now, china still does not permit their citizens from using Whatsaap, and they did bloc k it, there is no way you can use Whatsaap in china except WeChat, but with bitcoin, because of its decentralized system, it will make people to always want it.
August 25, 2019, 01:40:57 AM
What can be the worst case when it comes to Libra and Bitcoin?
I am not sure either if this will greatly affect bitcoin, btc already survived so many trials before and I'm confident it wouldn't fall down from an "overrated" coin lol. Hmm, honestly I think the worst thing could happen is only that btc might lose a few investors or Libra fanatics might say things like "BTC is old, Libra is the new trend", "Libra is the new king blah blah" or other black propagandas. But other than that, nothing too serious things will happen. August 25, 2019, 12:48:21 AM
Libra will be subject to government banking regulation.
Bitcoin doesn't need government permission for honest, accountable, p2p transaction..
Seems unlikely Libra gets's off the ground unless Zuckerberg somehow manages to buy off the federal reserve, which ain't gonna happen.
Bitcoin doesn't need government permission for honest, accountable, p2p transaction..
Seems unlikely Libra gets's off the ground unless Zuckerberg somehow manages to buy off the federal reserve, which ain't gonna happen.
August 24, 2019, 10:15:51 PM
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?
I wonder what's your opinion about it?
What can be the worst case when it comes to Libra and Bitcoin?
We all have conflicting views about how Libra coin is going to perform when it hit the market, some people had a big faith on Facebook and some here do not support Facebook because of the data issue, it's a battle between the two and we have to see that hapen before we can figure out if Libra have a chance.
But for me, I have to say no, Facebook is very notorious in stealing data, they have already paid billions in damages and I still want to protect my privacy and there are Cryptocurrency based products and services that are existing or will exist that are similar to facebook.
August 24, 2019, 08:44:48 PM
The worst case that could happen is that people will neglect their privacy for Libra. Well I don't think it will affect Bitcoin that much though. They are a completely different coin. It's like comparing Lion to wolf, they are both mammals but different in species. Just like Bitcoin, they are both coin but the other one is stable coin and the other one is volatile. The other one doesn't have any organization controlling it, other one have.
August 24, 2019, 08:16:38 PM
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?
I wonder what's your opinion about it?
What can be the worst case when it comes to Libra and Bitcoin?
We all have conflicting views about how Libra coin is going to perform when it hit the market, some people had a big faith on Facebook and some here do not support Facebook because of the data issue, it's a battle between the two and we have to see that hapen before we can figure out if Libra have a chance.
But for me, I have to say no, Facebook is very notorious in stealing data, they have already paid billions in damages and I still want to protect my privacy and there are Cryptocurrency based products and services that are existing or will exist that are similar to facebook.
August 24, 2019, 04:28:50 PM
I don't think that Bitcoin needs worst case scenario when it comes to Libra.
First of all Libra is totaly different crypto concept that is not competition to Bitcoin. It's centralized, backed up ans with intention to be stable coin, so everything that is opposite to Bitcoin.
Even if Libra becomes successful which I seriously doubt that will not endanger Bitcoin.
First of all Libra is totaly different crypto concept that is not competition to Bitcoin. It's centralized, backed up ans with intention to be stable coin, so everything that is opposite to Bitcoin.
Even if Libra becomes successful which I seriously doubt that will not endanger Bitcoin.
August 09, 2019, 06:55:30 AM
Libra is a stablecoin.
What can be said of a stablecoin, well its stable. (pegged to fiat - inflationary)
For 1 Dollar worth of stablecoin someone gets a Dollar worth of xyz stablecoin minus transaction fee.
Changing it back someone will get 1 Dollar minus fees.
The only difference with Libra its pegged to several fiats not just USD by looks of things.
Every large company will have its own stablecoin/token even celebs,
Stablecoins are coming, Libra is one, so is JPMorgans coin and a shit ton of others, like
https://www.coindesk.com/switzerlands-six-stock-exchange-is-working-on-a-swiss-franc-stablecoin
What can be said of a stablecoin, well its stable. (pegged to fiat - inflationary)
For 1 Dollar worth of stablecoin someone gets a Dollar worth of xyz stablecoin minus transaction fee.
Changing it back someone will get 1 Dollar minus fees.
The only difference with Libra its pegged to several fiats not just USD by looks of things.
Every large company will have its own stablecoin/token even celebs,
Stablecoins are coming, Libra is one, so is JPMorgans coin and a shit ton of others, like
https://www.coindesk.com/switzerlands-six-stock-exchange-is-working-on-a-swiss-franc-stablecoin
and in addition to that. Being backed by fiat money will make Libra open to inflation and turmoil risk. Because we know that bitcoin does not really affected from fiat money turmoils and that is what makes it eligible for diversification. That is why investors started to choose BTC as a part of their investment. So yes libra is stable and backed by fiat money and yes btc has more transaction fees and really volatile but even with those facts, I dont think Btc will getting destroyed by libra. And when considering the differences between them, Libra actually brilliant idea but still Bitcoin will going to stay and keep continue to be dominant in the crypto market.
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