I believe that Libra will target the market that is difficult to penetrate by current cryptocurency, which is as a means of reliable payment in retail or merchant. So it is natural that later adoption and popularity of Libra are greater.
And Facebook is a big capital of billions of users and applications such as WhatsApp and Messenger that later support Calibra digital wallet. According to Michael Levine of Pivotal Research, Libra is potentially adopted in a mainstream higher number than Bitcoin.
But it hasn't been bad for Bitcoin, because Bitcoin is approaching the highest level of Libra-driven use by Facebook.
Topic: What's bitcoin worst case scenario if Libra will be successful? - page 3. (Read 9017 times)
I do not think there'll be any worst case scenario for bitcoin if Libra becomes successful, and thats something i doubt will happen.
Libra may end up being the number one altcoin, but that would not put it ahead of the bitcoin in the cryptocurrency pecking order.
Imho libra would never be a determining factor to bitcoins progress, adoption nor price.Not to talk of how facebook/libra would defy anonymity and that's something real enthusiasts detest.
Libra may end up being the number one altcoin, but that would not put it ahead of the bitcoin in the cryptocurrency pecking order.
Imho libra would never be a determining factor to bitcoins progress, adoption nor price.Not to talk of how facebook/libra would defy anonymity and that's something real enthusiasts detest.
Lets look at "success"
To Buy = spent fiat to receive fiat equivalent (Libra)
To Sell = sell fiat equivalent (Libra) to receive fiat, minus two times fees
Lets assume 100 spent and one year hold and low exchange fees, so get 99.80 back
Success is: if fiat did not hyper-inflate in the time, facebook or exchanges closing shop will holding and loosing about 2% in value because of inflation.
Success keeping cash in pocket is: not loosing it or fiat hyperinlating, no time wasted on exchanges or wallets
To Buy = spent fiat to receive fiat equivalent (Libra)
To Sell = sell fiat equivalent (Libra) to receive fiat, minus two times fees
Lets assume 100 spent and one year hold and low exchange fees, so get 99.80 back
Success is: if fiat did not hyper-inflate in the time, facebook or exchanges closing shop will holding and loosing about 2% in value because of inflation.
Success keeping cash in pocket is: not loosing it or fiat hyperinlating, no time wasted on exchanges or wallets
The worst case is that Bitcoin will stay at its path as if Libra is not successful or not launched at all. That is the worst case scenario if Libra gets the success that it pursues. This is because I strongly believe that Libra is going to be a big help for the cryptocurrency name especially Bitcoin to spread to the farthest corners of the world, given the very high influence of the mother company of Libra and its partners. Libra represents the success of crypto which Bitcoin started.
I think that today all the talk about the Facebook project looks like speculation, because all the forecasts are contradictory. They used to talk about Bitcoin and dollar competition, and now they are talking about Bitcoin and Libra, as well as Libra and the dollar. And since Libra can combine several trading platforms and payment systems, the project itself will probably look different. Therefore, we will be able to say something specifically after the project is launched.
In my view, worst case scenario (no Libra launched due to regulatory pressure) is Bitcoin getting more popular, leading to additional price appreciation on the medium-term (1-2 years). 
If it even launches, its use case would be vastly different from BTC (Libra is a stablecoin backed by an ETF-like mix after all). No competition at all to BTC.
An interesting question in how convertible and liquid a BTC/LIBRA would be at exchanges.
If it even launches, its use case would be vastly different from BTC (Libra is a stablecoin backed by an ETF-like mix after all). No competition at all to BTC.
An interesting question in how convertible and liquid a BTC/LIBRA would be at exchanges.
For now, I don't think about the worst scenario if libra will be successful, and I prefer to wait for what will happen later. It's too difficult to say something will happen while we don't know the case. We could only predict more and more, and that only makes people in out there panic or feeling bad. I think the good thing that we can do now is let the market decide what will happen with libra and bitcoin although I don't think that libra can get successful like the other stable coin or the other altcoin.
I honestly think that the worst case scenario for Bitcoin if Libra’s successful is that it will go all the way up!
Libra is a stablecoin. However, there are people who still don’t understand Bitcoin and cryptocurrencies who might invest into Libra. Bitcoin is still the king, as it appreciates and depreciates value any time, while Libra isn’t.
Even Trump’s tweets about Bitcoin isn’t really affecting much despite its downtrend. It’s just that the whales are manipulating the market by playing the minds of the newbies and inexperienced ones to dump their Bitcoins. With that strategy of course, whales are accumulating more during the dip.
When Libra is fully launch, it’s a bullish thing for Bitcoin and cryptocurrencies due to its massive adoption. No government or SEC can stop Bitcoin from operating, as they don’t control the blockchain.
Libra is a stablecoin. However, there are people who still don’t understand Bitcoin and cryptocurrencies who might invest into Libra. Bitcoin is still the king, as it appreciates and depreciates value any time, while Libra isn’t.
Even Trump’s tweets about Bitcoin isn’t really affecting much despite its downtrend. It’s just that the whales are manipulating the market by playing the minds of the newbies and inexperienced ones to dump their Bitcoins. With that strategy of course, whales are accumulating more during the dip.
When Libra is fully launch, it’s a bullish thing for Bitcoin and cryptocurrencies due to its massive adoption. No government or SEC can stop Bitcoin from operating, as they don’t control the blockchain.
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?
BITCOIN has not been able to undermine the currency. even had weakened, but the last few days are on fire again. Because facebook made a surprise launching a new 'currency' in the world. It's called Libra. In my opinion the presence of Libra will help increase the price of bitcoin as usual.
if libra will be successful in the future it will have a positive impact on bitcoin.
No private corporation other than Federal Reserve has ever succeeded creating/issuing the own money.
Theoretically those guys issue money for a separate entity (or at least that was the plan). Bitcoin will not be bothered by Libra. Paypal should be afraid tho. Centralised stable coin. Will not be surprised if I hear news like Tether's oupsy!
Libra is one of the future stable coins, although perhaps one of the largest projects. This fully centralized coin and bitcoin have completely different tasks and functions, so they should not directly influence each other. I see the danger for Bitcoin only in the fact that people may prefer Libra as a means of payment.
However, now a big problem with the release of Libra. If the US Congress adopts a recently submitted bill, the release of this coin will be impossible from Facebook.
However, now a big problem with the release of Libra. If the US Congress adopts a recently submitted bill, the release of this coin will be impossible from Facebook.
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?
Well,libra will have it's own territory(facebook,messenger,instagram,whatsapp) where people will use it to buy(and probably sell) stuff.Bitcoin on the other hand is a truly global currency and it's not tied to any social media website or massaging app.You tell me what's going to happen. ;)I think nothing important will happen.
No private corporation other than Federal Reserve has ever succeeded creating/issuing the own money.
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I really don't see the why the lunching of libra coin threatened the existence of btc, they have two separate parts, libra is hardly a fully decentralized coin, besides btc is still the most recognized and most acceptable crypto in the space, so i don't see any threat here.
You say very rightly, except for the support from the government and a strong corporation behind, libra does not seem to have too many factors to become superior and threaten the existence of bitcoin. Almost everyone knows about crypto and bitcoin recognizes that problem. even if libra succeeds, it still lives only in the light of bitcoin, it will even support bitcoin to become more popular, Bitcoin has been a giant symbol in this area, everything in the back can only accept this fate and lose when faced with bitcoinAlthough bitcoin could be in danger if there is any government that releases the regulation to limit bitcoin or any other crypto that is decentralized.
I have no idea how libra can hurt bitcoin. There is simply no such scenario. Maybe I'm thinking too positive. But I really don't see a problem for bitcoin. I think libra on the contrary will be able to popularize cryptocurrency and bitcoin
I really don't see the why the lunching of libra coin threatened the existence of btc, they have two separate parts, libra is hardly a fully decentralized coin, besides btc is still the most recognized and most acceptable crypto in the space, so i don't see any threat here.
You say very rightly, except for the support from the government and a strong corporation behind, libra does not seem to have too many factors to become superior and threaten the existence of bitcoin. Almost everyone knows about crypto and bitcoin recognizes that problem. even if libra succeeds, it still lives only in the light of bitcoin, it will even support bitcoin to become more popular, Bitcoin has been a giant symbol in this area, everything in the back can only accept this fate and lose when faced with bitcoin
facebook have big fans than bitcoin, and i think bitcoin will take side effect when libra be famous.
with facebook, the people that follow bitcoin and dont know about cryptocurrent will know as soon as possible, and maybe they will use libra because many people have thing to do on facebook like sell something, advertise (it will be effective of libra can be use on something like that)
with facebook, the people that follow bitcoin and dont know about cryptocurrent will know as soon as possible, and maybe they will use libra because many people have thing to do on facebook like sell something, advertise (it will be effective of libra can be use on something like that)
I really don't see the why the lunching of libra coin threatened the existence of btc, they have two separate parts, libra is hardly a fully decentralized coin, besides btc is still the most recognized and most acceptable crypto in the space, so i don't see any threat here.
We all know what's advantage of bitcoin, decentralization and anonimity, that's why bitcoin is more popular than any other currency, compare price of bitcoin to any coin, it's far higher. A person who prepares anonimity and uses bitcoin won't turn into Libra, a project of company which has a lot of issues around privacy, they don't give a shit it, just using all of our information for better marketing, that's a shame
I think Libra will succeed, though I don't think it is a big threat to the value of electronic money especially for money that has a strong foothold in the current market.
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