Topic: Will Libra Coin bring Down Bitcoin's dominance - page 6. (Read 2949 times)
I think comparing Bitcoin to Libra is more of a hyperbole, a farfetched comparison. Bitcoin dominance will always hold since its the pace setter and a truly decentralized cryptocurrency, unlike Libra. Well, unless you mean a slight drop in BTC dominance by percentage (nobody knows for sure). Libra is extremely centralized hence doesn't have a great place to me in crypto.
First is centralized not decentralized and then there wont be Libra hitting all sort of exchanges without the owner poking their noses here and there Centralization is the reason we have Crypto and the blockchain Libra is just platform currency for this one let me say social media money
Libra coin is just like every other normal stable coin, although, it has not yet been launch and as a matter of fact, its launch will give more definition to what it truly is.
What is being said concerning Libra has also been pronounced about other coins and at the end, we saw nothing happened. So forget of it bringing down the dominance of bitcoin. It cannot achieve that alone.
What is being said concerning Libra has also been pronounced about other coins and at the end, we saw nothing happened. So forget of it bringing down the dominance of bitcoin. It cannot achieve that alone.
I would like to play devil's advocate
From this article I read
Will Libra Coin bring Down Bitcoin's dominance in the market, your thought?
From this article I read
Quote
“Unlike the volatility seen around other cryptocurrency’s in the past, we believe that Libra’s focus on creating a stable, low inflation currency backed by a reserve or real assets is a differentiator. Further, unlike other stablecoins, Libra will not be pegged to one currency but instead a basket of assets ranging from bank deposits to short-term government securities.”
https://www.cnbc.com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.htmlWill Libra Coin bring Down Bitcoin's dominance in the market, your thought?
Libra is not coming yet in this crypto world
But a lot of speculations coming to this altcoin,,
Maybe this libra will bring down bitcoin's dominance but only a little bit and just for a while mate
Because the truth a lot of investors focused on bitcoin only my friend
Regards
libra again and libra again.
Isn't libra a stable currency?
so I don't think that libra will dominate the crypto market, replace bitcoin, or be a strong threat to bitcoin. completely wrong. A stable currency will never take over the position of bitcoin and cannot be compared with bitcoin in all aspects.
Isn't libra a stable currency?
so I don't think that libra will dominate the crypto market, replace bitcoin, or be a strong threat to bitcoin. completely wrong. A stable currency will never take over the position of bitcoin and cannot be compared with bitcoin in all aspects.
I don't agree with the forum members who defend the idea of falling dominance due to the new players in the crypto market. The falling prices will attract new funds and the new form of the cash flow will lead to the increasing Bitcoin dominance and more total volume in the combined crypto exchanges. The entrance of the Libra was discussed several times here but I doubt the Libra will defeat the threats against Facebook.
Libra can never bring down the bitcoin dominance because Libra blockchain is centralize sheep with decentralize skin. people are always looking decentralize ecosystem. Zuckerburg has already lost his trust in people .. how can a person we can trust with our information be trusted with our money..
Every altcoin brings down Bitcoins dominance to some extent. It's inevitable, because their founders will promote their coin and some people will invest their money into that instead of Bitcoin. However, we must remember that the cryptocurrency space is still relatively unknown, so we must propagate it to all of the people and all coins are an important part of the infrastructure. Bitcoin is King and will always be king.
Will Libra Coin bring Down Bitcoin's dominance in the market, your thought?
Yes basically maybe when Libra released some investors might change paths but for sure it won’t give much effect to bitcoins supremacy and domination I’m very certain about this
I believe that Libra will not be listed on coinmarketcap and other cryptocurrency exchanges because Libra will create a complete ecosystem for their currency. Own exchange, own wallet, own merchants. So it will not be included into market cappitalization.
if everything works under own control where is the decentralized idea concept of cryptocurrencies?
i think that at some point in time it will bring dominance down, and at other point it will do the oposite
and it will go up and down again and again just like it does all the time with all the other altcoins
and it will go up and down again and again just like it does all the time with all the other altcoins
I would like to play devil's advocate
From this article I read
Will Libra Coin bring Down Bitcoin's dominance in the market, your thought?
From this article I read
Quote
“Unlike the volatility seen around other cryptocurrency’s in the past, we believe that Libra’s focus on creating a stable, low inflation currency backed by a reserve or real assets is a differentiator. Further, unlike other stablecoins, Libra will not be pegged to one currency but instead a basket of assets ranging from bank deposits to short-term government securities.”
https://www.cnbc.com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.htmlWill Libra Coin bring Down Bitcoin's dominance in the market, your thought?
well, how can be ?
its seems no sense to me,
let me explain based on my mind.
first,its just a project with banking system,no interest
second, although libra backed by multi holy big company, easy to get mass adoption over the world,it will not make libra dominate the market.
why ?
because libra fully organized,centralized.
for good reason, they may have low fluctuactive.
but for another reason, what's the point of hoarding a tons of libra ?
its worth nothing.
or did they have stake reward for holding ? no,i guess.
and the last reason.
i dont like libra project btw.
We don't know anything about libra yet, But clearly if it is categorize as a crypto and the number of printed tokens are big, then yes, it will get a big share of the market, specially when the total marketcap is so low.
I believe that Libra will not be listed on coinmarketcap and other cryptocurrency exchanges because Libra will create a complete ecosystem for their currency. Own exchange, own wallet, own merchants. So it will not be included into market cappitalization.
I would like to play devil's advocate
From this article I read
Will Libra Coin bring Down Bitcoin's dominance in the market, your thought?
From this article I read
Quote
“Unlike the volatility seen around other cryptocurrency’s in the past, we believe that Libra’s focus on creating a stable, low inflation currency backed by a reserve or real assets is a differentiator. Further, unlike other stablecoins, Libra will not be pegged to one currency but instead a basket of assets ranging from bank deposits to short-term government securities.”
https://www.cnbc.com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.htmlWill Libra Coin bring Down Bitcoin's dominance in the market, your thought?
That shouldn't be the question, the question would be should LIBRA be able to launch in the market? There have been lots of opposition regarding the launch of Libra.
https://cointelegraph.com/news/how-facebook-libra-is-seeking-compliance-but-may-not-launch-by-2020
https://www.forbes.com/sites/jasonbrett/2019/09/28/congress-questions-the-sec-on-libra-cryptocurrency-and-the-whole-blockchain-phenomenon/#7991717e5135
https://cointelegraph.com/news/german-finance-minister-says-govt-must-reject-facebooks-libra-coin
And if ever it is launched, it will definitely bring down Bitcoin's dominance percentage in the market because it will eat some percentage on that 100% pie. The extent on how huge is still unknown because it has yet operating. Yes, it is a very controversial currency but I believe it won't eat much of Bitcoin dominance since not all facebook users will be using Libra automatically.
I don't think that Libra will effect bitcoin dominance. Depends if Libra will successful to catch a very big amount of market cap then its maybe possible that bitcoin will lose a very certain amount of dominance but not that much. And that is possible if Libra is OK with exchange listing(I don't know about Libra very much).
And I think that it won't. Libra is not competing with Bitcoin, it's competing with stablecoins and centralized coins like XRP. If it's going to take part of the market from any coin it's going to be from those.
Bitcoin is not a stablecoin but a store of value and the most recognized coin in the world. Stablecoins are going to be used to buy bitcoin not the other way round and people will want to keep it. Will they want to keep dying altcoins like those that lost 99% of its peak value is another question.
There are a lot of stable coin already and still can't dominate more than bitcoin. I think it will happen to Libra. Because will need very long time to beat bitcoin's popularity and maybe what can beat bitcoin first is ETH. WIll need to be more popular than other altcoin first before can be more dominated than bitcoin, especially for new coins that just created like Libra.
I don't think that Libra will effect bitcoin dominance. Depends if Libra will successful to catch a very big amount of market cap then its maybe possible that bitcoin will lose a very certain amount of dominance but not that much. And that is possible if Libra is OK with exchange listing(I don't know about Libra very much).
Of course not, Libra will be something different (ofc it they let coming out) but BTC will remain as the dominant asset of all times. What I think is, Libra will be such a great marketing for the cryptocurrency market in general. More people will invest in coins.
No. I don't think Libra will bring down bitcoin dominance because Libra is nothing but another giant altcoin.
Do you know what altcoins have in common? they all fade away over time. thus, one day libra will just fade away just like the rest of dead altcoins.
Do you know what altcoins have in common? they all fade away over time. thus, one day libra will just fade away just like the rest of dead altcoins.
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