Topic: What's bitcoin worst case scenario if Libra will be successful? - page 6. (Read 9017 times)
its not worst anymore if libra coin became succesful because bitcoin itself can also benefit on it . last day after the announcement of libra coin , the bitcoin price suddenly sky rockets but how much more when libra coin is already released on the market ? the price of bitcoin can pump again but how much more if libra coin became succesful ? the value of bitcoin can even pump more .
i think the worst case scenario that can happen to bitcoin is that people will dispose thier bitcoin when they see that bitcoins value is increasing because of libra coin .
What is the purpose of the destruction? who said that? Libra coin won't give a bad affect to bitcoin at all. Maybe that was said by some people who don't know bitcoin and some people who admire a centralized system. Bitcoin is the first cryptocurrency and had a lot of users on it, it's impossible for the old user will move and support libra coin. Also, the libra coin just can be use as payment or send money system beside of that is nothing to be use. Different with bitcoin, the people can use bitcoin as payment system, send money system and as the promising place for investment. However, when libra came the user of bitcoin will be added because cryptocurrency is not a place which be feared again by most people.
Worst case would be Libra taking over the number one spot, bitcoin will retain its volatility and people who uses facebook often will surely benefit from it, billions of user will be introduce into crypto imagine that if bitcoin can also access that network.
I don't think this could be bad for bitcoin, it's like saying that gold will kill euros or diamonds. it just does not make sense. The main feature of bitcoin is being decentralized while libra is a corporate coin.
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?
I don't think something will change even if Libra will have even higher marketcap than bitcoin
Bitcoin is the mother of all coins and Libra i think will be centralized , not quite sure . Anyway im for the Bitcoin till the end and don't believe any coin will replace bitcoin and its proven in previous 10 years already
Remember that there are bitcoin holders that do not believe in centralization. So, the success of Libra might not affect much on bitcoin price. Even though libra is centralized, do you think Libra will gst he attentikn of hoĺder.
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 would take away any financial transactions for buying and selling from bitcoin. Libra may replace bitcoin as the most prominent trading pair. But that too may be beneficial for the price of bitcoin.
Libra in no way is a competitor to bitcoin but it would surely make stable coins like Tether, TUSD, Paxos and others obsolete.
I don't think Libra will affect bitcoin in a negative way because it's just another stable coin and it's centralized. People don't like their private information to be leaked and using bitcoin gets your identity anonymous and it's also decentralized, so my conclusion is that bitcoin will still be the most popular crypto in the world.
would you say Paypal is successful? i'd say it is. what happens to bitcoin when Paypal is successful? absolutely nothing! why? because it has nothing to do with bitcoin. it is a centralized anti-privacy payment system that is censored and isn't even global despite being on the web.
Facebook coin called Libra is exactly Paypal with a different name.
Facebook coin called Libra is exactly Paypal with a different name.
Guys, this coin (libra) will be a stable coin, with different purpose of BTC, I don't see the same kind of people using these 2 coins
I believe in cryptos and the ideas behind it, the community here is awesome, but I'll stay away of this coin of facebook, I don't agree with the way facebook works, simple
I believe in cryptos and the ideas behind it, the community here is awesome, but I'll stay away of this coin of facebook, I don't agree with the way facebook works, simple
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?
In my opinion, Libracoin will be beneficial to Bitcoin and it has the potential to attract more users to the world of cryptocurrency. First of all, I don't regard Libracoin is not a competitor to Bitcoin. A centralized currency can never become a competitor to a decentralized currency. On the other hand I guess Libracoin will become a competitor to digital versions of fiat, such as PayPal and MasterCard.
The worst case scenario if Libra becomes successful is BTC will reach $20,000. This might be the worst case scenario. We already experienced almost the same scenario when Ethereum almost become the number one cryptocurrency. But what happened, bitcoin remains number one. All we have right now is just the hype of Libra. It hasn't proven anything yet.
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?
Worst scenario of course if Libra coin takes place the position of Bitcoin but of course its just a speculation and for me it will never happen because bitcoin are roaring higher now and many analyst believes that bitcoin can't beat by any coins. I'm too confident that bitcoin will go to the moon and altcoins will have a hard time to compete with it especially the new coins, for me Libra coin should beat first BNB, XRP, and ETH because that's the biggest walls going to the top. I wonder what's your opinion about it?
What can be the worst case when it comes to Libra and Bitcoin?
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.
Libra and Bitcoin targets different audiences.
Libra will indeed reach many people. Maybe more than bitcoin ever will but all these will only increase bitcoin's popularity in the end of the day.
People who store their wealth in bitcoin are running away from the companies like Facebook, Visa, Mc, BoA etc... I don't think think libra will be able to gain those people.
Libra will indeed reach many people. Maybe more than bitcoin ever will but all these will only increase bitcoin's popularity in the end of the day.
People who store their wealth in bitcoin are running away from the companies like Facebook, Visa, Mc, BoA etc... I don't think think libra will be able to gain those people.
Yes, I agree with that, Libra will take away the privacy of those people who want to stay anonymous with their crypto business. So they won't even touch Libra coin. What would be the advantage of using such a stable coin for them? FB has already invaded the privacy of most people on Earth, who are up until now, sharing all their stuffs to this social media channel. Naive users that don't care about their privacy and security. I'm curious how they will utilise Libra coin once up and operational. In this case, FB now knows everything about your life, even your financial movements.
i can't imagine the worst scenario if Libra will be more successful than Bitcoin
there is nothing special about Libra that can threaten bitcoin
but the positive side is that bitcoin can follow the FOMO train created by Libra
there is nothing special about Libra that can threaten bitcoin
but the positive side is that bitcoin can follow the FOMO train created by Libra
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?
Even if Libra is successful (as in not crashing under 1 sat after it hits an exchange) i won't affect Bitcoin much, it will behave like a mix of the other altcoins and stable coins, it is a very poor contender actually.
But it might be that it sparks discussion and people will one way or the other get to the starting point, which is Bitcoin, and they would wonder why Bitcoin is so popular despite Libra existing, inquire and jump in.
But i see Libra worse than Ripple and similar centralized altcoins, and you don't see those taking the crypto world by storm. They have found their place, such as with banks, but Bitcoin remains unabated, while still being decentralized and not pegged (artificially) to any fiat.
Zuckerberg is naive thinking, he too, can be successful with his own vision. He shoud have researched how it went with the (very rich) chinese that tried the same. Its far from easy not even with getting a few banking institutions behind it.
And, he wants to catapult it over Bitcoin, which is his ultimmate downfall. If Bitcoin was so bad, why people keep using it? People will find out the truth beyond facebook, twitter and instagram.
USDT is also a stable coin peg to USD currency but it has nothing to worry where bitcoin and the likes of this coin can still synchronize in the cryptocurrency market especially in the exchange. Probably since we are digital nowadays when bitcoin rises up still these stable coins will remain in their value to which when trading with btc all return can do will be basing on the value of the stable coin peg with fiat currency.
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?
I'm probably in the former camp. I simply don't see anything that would suggest that Libra will pose a direct threat to BTC.
The thing is that people understand that bitcoin is decentralized, while Libra is extremely centralized in the way that its value is derived from. The fact that you need to trust the corporation to hold sufficient reserves to keep the tokens solvent means that there is a risk that not everyone will take.
And given the fact that current bitcoin users are likely to be aware of these risks, they are most likely not going jump on ship. Furthermore, institutional investors will not be interested in Libra given the fact that there is a lack of profit incentive in using it.
If you're talking about absolute worst case scenarios, then I think it'll be tightening of regulations for digital assets overall, given the apparent regulatory risks that Libra poses. But even that's probably going to happen regardless.
Libra and Bitcoin was very different, successful Libra can't affected bitcoins holder and community.So, for me The worst scenario because Libra projects is nothing.
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