Post
Topic
Board Bitcoin Discussion
Re: What's bitcoin worst case scenario if Libra will be successful?
by
KlepZ
on 27/06/2019, 09:30:33 UTC
I heard people saying it won't affect bitcoin at all, and others say it might destroy it

I wonder what's your opinion about it?

What can be the worst case when it comes to Libra and Bitcoin?

Nothing will happen to bitcoin here, in fact maybe it could bring more money to bitcoin ecosystem for all we know. So I don't think Libra will have a negative impact as far as the market price. Investors would simply go and shift their funds to a private, consortium wherein it is centralizes and all your private data will be in their own crypto. Crypto investors are not that dumb, on the contrary they are getting smarter now that's why they are not bother by the supposedly challenge from Facebook's Libra.
Facebook’s Libra is NOT a cryptocurrency. I know big call. But let’s just think about this for a second. First, though, why would you trust it? Facebook will use it go track what you buy and target you with more of the same. They will not only use your data, but sell it. Or they’ll get hacked and your data stolen. I mean, their track record, that we KNOW about? Come on. And you won’t make money off investing in Libra, it’s not going to fluctuate like the cryptocurrencies we know. It’ll be considered a stable coin, 1 for 1. I’m going to go a step further and call it FIAT.