Will Libra Coin bring Down Bitcoin's dominance - page 2.

ATSgrowth

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Quote from: Barbut on November 04, 2019, 07:30:43 AM

Quote from: CryptoInsights on November 04, 2019, 06:48:00 AM

Libra is a centralised currency and Bitcoin is a decentralised there is no comparison between the both. Thus, Libra can not cross BTC.

I don't know who push these topics about Libra coin. Every once in a while I see something about Libra, some people give them too many credits, and I'm not sure that Facebook as a company deserves that. I think like you my friend, Libra can't even be compared with Bitcoin, to not talk much further about that.

You are talking about decentralization, but show me one altcoin that is not centralized in some way? Ethereum has CEO, Litecoin has CEO and so on. Teams of these altcoins own more cryptocurrencies, more power than rest of users.. There is probably only one altcoin that is truly decentralized - Grin due to its same history like BTC, we do not know who creates it. Cool

tungaqhd

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Quote from: DonFacundo on November 03, 2019, 10:42:59 AM

A big no for me, bitcoin will not affected, why they compared a volatile coin to a stable coin?, we all know that we like the volatility of bitcoin because we can make profit of it. I don't know if this Libra will launch in the next year because many companies back out for partnership and their government is very strict.

Agree, a comparison is probably not appropriate when the trend of people is liking the instability from bitcoin, astable coin will be difficult to jump into this trend and compete, especially with a stable coin and probably will receive a lot of scrutiny from the government, the influence of libra coin will be reduced to a very low level when users do not like the control. And I still don't understand why so many people still want to exaggerate, even inflating the value of libra coin will outperform bitcoin while bitcoin is a nearly complete product and libra coin is just a dream and plan product

Barbut

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Quote from: CryptoInsights on November 04, 2019, 06:48:00 AM

Libra is a centralised currency and Bitcoin is a decentralised there is no comparison between the both. Thus, Libra can not cross BTC.

I don't know who push these topics about Libra coin. Every once in a while I see something about Libra, some people give them too many credits, and I'm not sure that Facebook as a company deserves that. I think like you my friend, Libra can't even be compared with Bitcoin, to not talk much further about that.

CryptoInsights

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Libra is a centralised currency and Bitcoin is a decentralised there is no comparison between the both. Thus, Libra can not cross BTC.

akmal1984

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Quote from: 3DBrushes on November 03, 2019, 08:08:33 AM

Libra might defeat the dominance of tether only if it promises more trust to users. Like what 'True USD' is doing. Regular auditing of funds etc. Libra will have a huge name in the industry as it is backed by big companies as of now. Even though many companies walked out.

I think with the release of some partners will not give a problem for Libra itself. The community that is owned by Facebook is very big. The problem of trust I am very sure they will be able to provide it as they manage Facebook so far with full trust. What won't happen is Libra replaces the dominance of bitcoin.

MiguelCryptoss

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How can Libra bring down bitcoin dorminance? Libra is even suffering from being accepted into the crypto world, so, I can't see how the said Libra will act as a string wind against the giant bitcoin. Basically, many of the these tokens or coins that are seen as market movers always end in a bad style. Libra looks like a scam to me through..... My personal opinion.

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To get down the dominance of BTC by any cryptocurrency will take decades. Libra might be just one among them. Honestly, I don't even have good hope on the Libra project and coin. We have to just wait and see.

BlacksmithCorporation

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The future of Libra has not been decided yet, if the Libra case is launched on the right track then maybe it is just a stable currency used in the Facebook ecosystem, so it will not affect anything. Bitcoin dominance.

sulis sudibyo

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reduce the dominance of bitcoin?
this is a good target, but it will be very difficult. You see the dominance of bitcoin today is more than 60% and even if all altcoin marketcaps are combined it's not comparable to bitcoin. and see ethereum, ETH is the second rank coin but the marketcap is less than 10% of the total marketcap of the crypto market.

so is it still possible if you hope that libra can reduce the dominance of bitcoin. I don't think so, and Libra has no chance at all.

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Quote from: Obito on November 03, 2019, 11:06:25 AM

Quote from: coin-investor on October 01, 2019, 07:37:15 AM

Will Libra Coin bring Down Bitcoin's dominance in the market, your thought?

There is a lot of thing Libra need to accomplished first before taking up after Bitcoin. It hasn't been deployed though, and I do not think it would all go through. Besides there are some articles that are suggesting Facebook should drop Libra and take rather take up the square. In addition, a lot of alts are already did the same thing but none of them stood up.

especially the legality of the government and also the problems of the pros and cons of the common people. this may be one of the difficult problems that must be resolved even though there are many large partners who support this Libra project. but I heard bad news that big partners canceled agreements with Libra Projects like Visa, Paypal and maybe there's more.

Obito

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Quote from: coin-investor on October 01, 2019, 07:37:15 AM

Will Libra Coin bring Down Bitcoin's dominance in the market, your thought?

There is a lot of thing Libra need to accomplished first before taking up after Bitcoin. It hasn't been deployed though, and I do not think it would all go through. Besides there are some articles that are suggesting Facebook should drop Libra and take rather take up the square. In addition, a lot of alts are already did the same thing but none of them stood up.

DonFacundo

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A big no for me, bitcoin will not affected, why they compared a volatile coin to a stable coin?, we all know that we like the volatility of bitcoin because we can make profit of it. I don't know if this Libra will launch in the next year because many companies back out for partnership and their government is very strict.

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Quote from: HK88 on November 03, 2019, 09:16:21 AM

all know that bitcoin is one of the biggest cryptoqurrency in this market and bitcoin has always dominated the crypto market, even from then until now none of the altcoins can dominate the market or rival bitcoin. so I think if the Libra project is present in the crypto industry, it will not reduce the dominance of bitcoin at all.

It could though only if it's added into coinmarketcap aswell as its volume because if Libra succeed it will have massive funding that could increase the market capitalization of cryptso significantly however that's just a wishful thinking for people simply because Libra is seems to be struggling against the government and mark zuckerberg himself has said that he won't confront the government anyway. Basically he's saying that continuing the project without the agreement of government is pointless.

HK88

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all know that bitcoin is one of the biggest cryptoqurrency in this market and bitcoin has always dominated the crypto market, even from then until now none of the altcoins can dominate the market or rival bitcoin. so I think if the Libra project is present in the crypto industry, it will not reduce the dominance of bitcoin at all.

Eclipse26

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No. They are different from each other and I don't think its aim is to defeat nor replace bitcoin from dominating the market. I know Libra comes from a big company and already making noise even before lauching but that doesn't assure its dominance. Bitcoin is successful already, been there for decade. It will not be an easy path to reach bitcoin's level. Even with a big name, Libra is still centralized and I don't think most of us here would prefer it over bitcoin.

TWW

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I don't think that's possible. and I find it strange with the media and people who make news that I think is exaggerating about libra. even though they are supported by several large companies and in the real world it does not guarantee their market will be good. Remember, this is a new coin that doesn't have a big market. this could have been a bomb if we overreacted and responded to all this. just follow the process and wait until libra is traded on the market.

3DBrushes

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Quote from: akmal1984 on November 03, 2019, 07:49:58 AM

I am sure the Libra owners have no intention at all to defeat the dominance of bitcoin in the market. Because they are aware of bitcoin, keep bitcoin from being replaced by other coins. What is interesting for me is just waiting whether libra will defeat the dominance of the thether as a stable coin ??

Libra might defeat the dominance of tether only if it promises more trust to users. Like what 'True USD' is doing. Regular auditing of funds etc. Libra will have a huge name in the industry as it is backed by big companies as of now. Even though many companies walked out.

Rampagoe004

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Actually, libra has not yet been launched but why many people have compared with bitcoin, if you see from the strategy that is implemented it is very convincing but we will wait later if libra can dominate bitcoin, because for the coins that I just race it is very difficult to dominate bitcoin because bitcoin also needs time to be at the current level, but for libra coins we just wait for the launch time.

akmal1984

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I am sure the Libra owners have no intention at all to defeat the dominance of bitcoin in the market. Because they are aware of bitcoin, keep bitcoin from being replaced by other coins. What is interesting for me is just waiting whether libra will defeat the dominance of the thether as a stable coin ??

Nolimitz84

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Quote from: yulionoo on November 03, 2019, 07:29:33 AM

I never thought Coin Libra would reduce the dominance of bitcoin. because both have different characters. bitcoin is free and decentralized while libra coins are centralized and controlled by Facebook. although Facebook has a large number of users, it will not necessarily make libra coins become successful coins like bitcoin. just now libra is experiencing a lot of rejection, I'm not sure this coin can be released in 2020. so bitcoin will remain the king and the main coin in cryptocurrency.

You're absolutely right.On Your post, in principle, you can already close this branch.In addition to Your post, I would like to say that telegram has already reached 1 billion users.Libra has no chance to compete with both telegram and bitcoin.

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