We are comparing a stale crypto currency with bitcoin.
Both uses blockchain but the coin from facebook is centralized so it is not an alternative of people think fiat money is not needed in future.
but in the future also requires digital assets that have a stable value. bitcoin and many altcoins have very fast changing values depending on market demand. then what are the assets like this that we can use for payment in the future?
Libra will develop for the basics of the concept of using their coins. and bitcoin and other altcoins will remain crypto traded with the uniqueness of this market.
Why do we need it for? Payments? We have fiat money for that. What will be the advantage of libra over other payment methods that we are using now. You can send small transactions with payment processors in minutes. The advantage of bitcoin is that you are in control and your transactions can't be hijacked. You are sure that your payment will reach its destination and nobody can flag it or stop it because they don't agree with your ideology or choice of merchandise.
Facebook coin can be controlled and you have to use their tokens and their platforms. When I want that I can use my bank account that is also pretty stable.