the worst case scenario for bitcoin if bitcoin will be cracked and the number of hackers that are destroying this market is bad for bitcoin and the stability of the libera bitcoin market there must be strong approval and security protection for bitcoin users to remain stable and this will affect many country for bitcoin in crime or money laundering.
If we get free bitcoin by working diligently, it might not affect bitcoin. it really managed to market bitcoin well
Topic: What's bitcoin worst case scenario if Libra will be successful? - page 5. (Read 9017 times)
First of all l want to say definitely Libra can damage BTC and Libra may be successful but not too enough to destroy BTC.LIbra can't dominate cryptocurrency.l have a slight feeling.l don't believe it, aim of them are various.
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
At this point in time, companies are indeed creating their own stablecoin (so they don't FOMO). And by doing so, would let everyone know in the process that they're into crypto's future, even though in reality it's still closely tied to the value of Fiat.
Worst case scenario: Libra becomes the #1 alternative payment method worldwide, big companies (Amazon, Starbucks, Ebay, etc) will be against accepting any other cryptocurrency as a payment option meaning that the "adoption phase" that most bitcoiners and crypto users want to see in the future will most likely not happen.
I'd say chances of this actually happening are not that high, I feel like at some point in the future, a big portion of the general public will get tired of these big corporations and bankers "controlling" their wealth and keeping track of every transaction they make, so one way or another, they're gonna start looking for a decentralized option to keep their money safe from the system.
That's definitely a worst case scenario but I doubt that Libra would be more popular than Bitcoin in the crypto space. There are some articles says that Libra is a stable coin and there are some that say it is not a stable coin just like other Crypto Currencies. I don't feel that Libra will become a threat to Bitcoin and Bitcoin will continue to reign supreme in the Crypto Currency industry for a long period of time.I'd say chances of this actually happening are not that high, I feel like at some point in the future, a big portion of the general public will get tired of these big corporations and bankers "controlling" their wealth and keeping track of every transaction they make, so one way or another, they're gonna start looking for a decentralized option to keep their money safe from the system.
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
Given that Facebook is behind its development, it will become a successful coin, but will not harm Bitcoin's reputation or leadership in the market, since they are different Libra is a stable coin while Bitcoin is a decentralized coin, I wonder why people keep insisting it will go against Bitcoin hen, in reality, it is not. 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
Possibly it'll gain a lot of attention from people in the near future than bitcoin but I don't think it will be a worst case for bitcoin. I don't think it will affect bitcoin afterall. I mean, it could also bring positive outcome to it. If more people will know libra, they will might eventually gain knowledge about crypto and bitcoin.
And I don't think libra can destroy bitcoin at all
And I don't think libra can destroy bitcoin at all
At every opportunity your duty is to scream no to any citizenry considering Zuckerbergs Totalitarian coin.
Reject him and his social media. The man is a monster
Their aim is introduce some kind of alternative(like Libra) and ban the bitcoin and other crypto-currencies
That is possible, but Libra and Bitcoin are totally different so there's no way we can compare Bitcoin to Libra, but if that's the case, we can't force them not to ban Bitcoin. Bitcoin is just being decentralized, and a better store of value for me. We should also appreciate the existence of Libra like there are many people introduce to cryptocurrency since Libra and people will notice Bitcoin.
There's no worst scenario. In theory people could sell their bitcoins and buy libra but that will be a bit like selling to buy a better version of tether.
There are better stablecoins that tether already available. There are also coins based on mimblewimble protocol. Despite that I don't see people selling bitcoins to buy them. This big bull run proves that bitcoin is still the leader.
There are better stablecoins that tether already available. There are also coins based on mimblewimble protocol. Despite that I don't see people selling bitcoins to buy them. This big bull run proves that bitcoin is still the leader.
The worst case would be people giving up their last shred of privacy and financial sovereignty in favour of whatever Libra's value proposition is.
If Libra really takes over what happens to Bitcoin is the least of my concern TBH.
I have my doubts that Libra will get far though as I don't see its appeal. Then again I don't see Instagram's appeal either so I might just be out of touch.
I agree with you about the appeal of both things. Everyone knows how Facebook is not respecting privacy, selling personal data, allowing sexist and racist targeting advertising, etc. Using a coin of this company, so that it also knows one's buying habits? No way! And I also don't use Instagram at all, so I guess some people might get interested in the coin, though.If Libra really takes over what happens to Bitcoin is the least of my concern TBH.
I have my doubts that Libra will get far though as I don't see its appeal. Then again I don't see Instagram's appeal either so I might just be out of touch.
As for what happens to Bitcoin - well, it can go back to being a coin of a small group of people who care. The price will be low, but so will be the fees, so I guess it's not a bad thing.
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?
Worse is blocking and banning bitcoin most of countries in the world.Then they will some laws who using it.You can search and see few trail works happening in India.
https://www.coindesk.com/another-indian-crypto-exchange-shuts-down-blaming-banking-ban
Their aim is introduce some kind of alternative(like Libra) and ban the bitcoin and other crypto-currencies
No it won't destroy btc, bitcoin is a decentralised coin people loves to invest in decentralised coin, although the popularity of libra claimed to be big but we can't be sure it can beat bitcoin, for me the existence of libra will light up the crypto competition which will be good for the users
Not just the difference of the natures of these two but also the fact that libra is basically stablecoin, it is entirely different thing to bitcoin. Libra's price will never fluctute because it is backed by real money by the company unlike bitcoin. Even by this people should stop worrying about what might happens. 
No it won't destroy btc, bitcoin is a decentralised coin people loves to invest in decentralised coin, although the popularity of libra claimed to be big but we can't be sure it can beat bitcoin, for me the existence of libra will light up the crypto competition which will be good for the users
No it wont. May be facebook credits become a popular service it can live side by side. Overall it brings more curious minds into the crypto space.
No it won't destroy btc, bitcoin is a decentralised coin people loves to invest in decentralised coin, although the popularity of libra claimed to be big but we can't be sure it can beat bitcoin, for me the existence of libra will light up the crypto competition which will be good for the users
Worst case is that noobs who want to get into cryptocurrency will get into Libra instead of Bitcoin, but it will be rare, because Libra is a stablecoin, so there's little reason to buy it for speculation, and let's be honest, people get into cryptocurrencies for speculation first. As for competition between Libra and Bitcoin for being used as currency, most of Libra's users will be Facebook users who are far from crypto in the first place, and those people are unlikely to try Bitcoin under any circumstances, so really Libra is not threatening Bitcoin in any major way.
Bitcoin will stay as it is. Libra is a stablecoin compared to bitcoin where it is a cryptocurrency. If libra will become successful then I think it's good for bitcoin because more people will know about it. And libra won't reached what bitcoin already have.
Nothing will happen to bitcoin here, in fact maybe it could bring more money to bitcoin ecosystem for all we know. So I don't think Libra will have a negative impact as far as the market price. Investors would simply go and shift their funds to a private, consortium wherein it is centralizes and all your private data will be in their own crypto. Crypto investors are not that dumb, on the contrary they are getting smarter now that's why they are not bother by the supposedly challenge from Facebook's Libra.
The problem for me in looking at this argument is that we only need to look back a year and a half ago at what happened to the crypto market when the ecosystem had more money flowing in. Sure, people were buying Bitcoin but only to invest in hundreds of ICOs (and the same also happened to ETH once ERC20 ICOs started becoming popular) and that didn't end up too well afterwards, did it?
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?
Nothing will happen to bitcoin here, in fact maybe it could bring more money to bitcoin ecosystem for all we know. So I don't think Libra will have a negative impact as far as the market price. Investors would simply go and shift their funds to a private, consortium wherein it is centralizes and all your private data will be in their own crypto. Crypto investors are not that dumb, on the contrary they are getting smarter now that's why they are not bother by the supposedly challenge from Facebook's Libra.
I can't believe I see these headlines anymore. Don't you ever read?
You have no idea what Libra is, do you? I wish you'd done some research before asking questions like that here!
https://libra.org/en-US/ (Look at that once, I'm sure you'll understand how your question is unnecessary.
You have no idea what Libra is, do you? I wish you'd done some research before asking questions like that here!
https://libra.org/en-US/ (Look at that once, I'm sure you'll understand how your question is unnecessary.
The worst case would be people giving up their last shred of privacy and financial sovereignty in favour of whatever Libra's value proposition is.
If Libra really takes over what happens to Bitcoin is the least of my concern TBH.
I have my doubts that Libra will get far though as I don't see its appeal. Then again I don't see Instagram's appeal either so I might just be out of touch.
If Libra really takes over what happens to Bitcoin is the least of my concern TBH.
I have my doubts that Libra will get far though as I don't see its appeal. Then again I don't see Instagram's appeal either so I might just be out of touch.
Yeah, I think most of us who are serious Bitcoin users do not give much thought to all the so called Bitcoin killer or Eth killer,,, I see that some places even call Libra the Ripple killer,,, which is such a nonsense proposition,,, so many coins tried to be killers and none of them even got a bit close to that goal. Same thing will happen to Libra.
Jump to: