Quote from: bL4nkcode on June 16, 2019, 06:09:08 PM

Quote from: serjent05 on June 16, 2019, 12:00:47 PM

Quote from: bigatenz on June 16, 2019, 10:11:57 AM

Possible Reason bakit uptrend ang price movement ng Bitcoin :

[1] Facebook Libra Blockchain testnet

I wonder how can this news affect the price of Bitcoin. In my opinion, it has no to little effect to Bitcoin price since it uses their own blockchain for their platform, it would give a huge impact if they announce that they will be using Bitcoin as their sole mode of payment thus generating more demands for Bitcoin.

You're underestimating how one of the biggest internet company can uplift someone when they start to go along with the course of this someone's company.

Fb coin might not furnish such huge impact unlike what you've said but it will give somewhat benefits to bitcoin drastically.

I am not underestimating, I am just stating the obvious and not exaggerating expectations. That's it. It will affect yes but not to the extent that it will make Bitcoin price to surge. Since the discussion between me and bigatenz is the reason why Bitcoin price will increase in value, though there is an article stating that FB announcement made Bitcoin trading to its best, checking the content I believe is just a stunt to promote FB coins or giving a catchy title for click bait.

Quote from: bL4nkcode on June 16, 2019, 06:09:08 PM

Quote from: Bttzed03 on June 16, 2019, 05:06:16 PM

Why would people buy bitcoin because of facebook's global coin?

It's like you're saying, why would people want to acquire USD while we have Philippine Peso, or any local/national currencies, of course, there is what you called forex trading, or here in CT its called crypto trading.

There is an announcement that FB coin will be a stablecoin , I wonder how can this stable coin boost Bitcoin price. Let alone their backers are those who are known not friendly to Bitcoin?

Quote from: https://www.investopedia.com/facebook-gathers-companies-to-back-cryptocurrency-launch-4690619

One thing that is known is that Libra will be pegged to a basket of government-issued currencies in an effort to preemptively counter the extreme volatility which has plagued other digital coins.

Quote

Visa, Mastercard, PayPal and Others Support Libra
Among the various companies signed up to invest around $10 million each in Libra are credit card giants Visa, Inc. (V) and Mastercard, Inc. (MA), digital payments company PayPal Holdings, Inc. (PYPL) and ridesharing powerhouse Uber Technologies, Inc. (UBER). The money raised by members of the consortium will help to fund the launch of the coin. According to the report, Facebook has sought to raise as much as $1 billion in support of the new cryptocurrency project.