libra coin Your opinion: Worst case scenario for BTC If Libra explodes

[martmobi 127]

I heard people saying it won't affect bitcoin at all, and others say it might destroy it, it's going to be a huge challenge for bitcoin none the less, that's my opinion. 

I wonder what's your opinion about it?

[martmobi 127]

Further more, 

Naturally, everything depends on people. If they do not contribute, then prices for bitcoin will fall, and vice versa, if depositors buy it in large quantities, then the price for bitcoin will rise to the skies :)

[xBDT Script 4371]

7 minutes ago, martmobi said:

I wonder what's your opinion about it?

Well this is how I see it,

If people by into Libra then thay get the taste of the cryptocurrency space. They start studying crypto and eventually they will descover Bitcoin that this is the ture legend and Libra is not a real crypto at all.

Finally they will sell those Libra S**tcoin and buy into Bitcoin 😊

[martmobi 127]

I have heard some scam faucets/airdrops from libra. Is the real libra team organizing airdrop, faucets and referral program?

I wanted to know because this is Facebook's coin , so it has lot of potential.

[martmobi 127]

7 minutes ago, xBDT Script said:

Well this is how I see it,

If people by into Libra then thay get the taste of the cryptocurrency space. They start studying crypto and eventually they will descover Bitcoin that this is the ture legend and Libra is not a real crypto at all.

Finally they will sell those Libra S**tcoin and buy into Bitcoin 😊

Hahahha.... I see your point, but it's going to be a funny revelation eventually... Smiling. Although Mark will try his possible best to keep it alive. 

[BullRunBit 2773]

9 hours ago, martmobi said:

I heard people saying it won't affect bitcoin at all, and others say it might destroy it, it's going to be a huge challenge for bitcoin none the less, that's my opinion. 

I wonder what's your opinion about it?

You say that you heard, and what is the reason that Libra will affect on Bitcoin would someone tell you that?

It's really very simple, Bitcoin is first cryptocurrency and after Bitcoin we see a lot of new coin (altcoins) and would that affect on Bitcoin?

And again, how can Libra affect on Bitcoin at all, just how?

[xBDT Script 4371]

1 minute ago, martmobi said:

Hahahha.... I see your point, but it's going to be a funny revelation eventually... Smiling. Although Mark will try his possible best to keep it alive. 

Well the first criteria for a crypto to fill up is the decentralization. If Mark can do something with Libra that proves that Libra is not a decentralized coin. Right?

So if anyone really into in decentralization then why would they stay with Libra?

[martmobi 127]

6 minutes ago, xBDT Script said:

Well the first criteria for a crypto to fill up is the decentralization. If Mark can do something with Libra that proves that Libra is not a decentralized coin. Right?

So if anyone really into in decentralization then why would they stay with Libra?

I'm sure most users will run away first and observe the coin from 2km away to see if it'll pump or dump, I'm among such people... Smiling 

[cryptosix 1643]

Nothing will happen to Bitcoin, because Libra is totally different, but let see how Libra will move into the world and what could be the worth of it.

People are just thinking Libra can damage all coins as the owner is a top social media.

[Mohs3n71 0]

even if the libra explodes, it has no effect on bitcoin, it's just another stable coin like many others out there

[Great Commander 659]

Not gonna worse at all. Bitcoin is still more popular than the Libra though it now in development and release. The dominance of libra will not eradicate bitcoin on the market. 

[Llawliet05 2]

Libra is a stable coin if it is base on fiat currency then I think it will not affect the value of Bitcoin at all, maybe the economic growth might have a big problem with these but eventually Libra will not take an effect at all unless many bitcoin holders swap their Bitcoin with Libra or manipulation would occur, when whales decided to transfer their funds with Bitcoin, that is the only thing it can affect but in my opinion would not destroy bitcoin at all.

 

[martmobi 127]

On 11/8/2019 at 4:19 PM, Nokuto said:

My point is Libra has this bad view from us who basically has bitcoin in our mind as number 1. Libra is created because of having the trend of using cryptocurrency and still can't affect bitcoin at some point.

I feel the same way about Libra as well, but I honestly feel that irrespective of the complaints and down side to Libra I won't miss out on the bus to join the investment project. 

[Jimmy 437]

Nope, Libra will not threaten bitcoin because it has a different use case in my opinion, at least Libra will only be a threat to some altcoins that have the same purpose. This is just my opinion, what do you think?

[fimolof 66]

for me libra use comunty of facebook, can dead if facebook lose his popularity, or new social media apear most popular than facebook and use too his coin, libra haven't technologie

[PiroSense 2681]

On 10/6/2019 at 8:32 PM, xBDT Script said:

If people by into Libra then thay get the taste of the cryptocurrency space. They start studying crypto and eventually they will descover Bitcoin that this is the ture legend and Libra is not a real crypto at all

Most people are ignorant and want to stay that way if they knew a method that works for them with less worries and hassle. Given the fact that it would be used on Facebook, which has a huge user base, and knowing that price of Libra would be regulated, people would tend to stick to that currency instead of searching further and discovering Bitcoin. And even if they discovered it, I doubt they'll switch since people want convenience in terms of speed of transactions, etc. rather than Bitcoin which is volatile.

[SagingHilaw15 35]

Some articles says that Libra will have a stable value unlike from Bitcoin. Well, for me btc will definitely go down if the value didn't go up.

[Naga 1250]

Well if libra gets accepted there will be a lot of crypto project that will instantly die out because their sole purpose was to provide a service of international payments to customers within minutes and libra will do it easily.  But I don't think it will threaten bitcoin itself. 

[Crypto123 0]

I don't think so at all. First, Bitcoin is much more powerful to be influenced by a modern currency having gained all this great popularity. Secondly, Libra already has many problems before it even starts, so I don't think it will affect bitcoin even if the currency holder is a big company like Microsoft.

[martmobi 127]

10 hours ago, Nokuto said:

Yeah, let see in the future how well will be for Libra to join the party I know it will be successful as any of the altcoins as well.

Cool to see our level of enthusiasm towards the project, and I'm sure the project team won't let us down. 

 

10 hours ago, CryptoBry said:

Libra will never destroy Bitcoin and can even be complimenting each other. Libra is a stablecoin and that means there is nothing to speculate in there as the value is almost fixed. How Libra can destroy BTC is beyond my imagination. 

It's really not a speculation my friend it's more of anticipation, since we could see that bitcoin and Libra are not similar in any way whatsoever. 

[H-x- 0]

Nothing would happen, if it happens and libra explodes, there would be no effect on the bitcoin. But might affect other latcoins! Just stating what I think.

[martmobi 127]

4 minutes ago, Nokuto said:

Well of course, we can support Libra like we support altcoins because it is also a contribution to our technology and for the future references it will also be part of history.

Yeah that's exactly part on my point, since the awareness on Libra will boost the awareness on bitcoin and then Vice-versa, so in the end it'll bump bitcoin for sure. 

By the way, What's your thoughts on Tron these past few days? 

[dentolas 551]

Nice thread! I think that it will be a huge challenge, to say the least... some people fail to realise that facebook as millions of users willing to use what they tell them to use... no matter if crypto enthusiasts show how bad it is... people just don't think !

The volume will be a lot higher than the whole crypto market...

[Scottsummers 347]

I think Libra will die. Or at least I hope so anyway. There's no doubt its a threat u til it goes away. Its very care that the first design (BTC) is the one design that is adopted and with so many other coins and investors with the power looking back at BTC and perfe ting it. Btc could always be disowned and swapped for something better made for the job. 

[martmobi 127]

21 hours ago, sben9704 said:

Well, in the brighter side, people using libra might realize the potential of crypto currency. They might soon try to engage here in crypto world.

I see your point of view my friend and I understand it quite well, that what really matters is the awareness of cryptocurrencies and its usability and not just the constant change in price... That's deep and thank you for the contribution.