Post
Topic
Board Bitcoin Discussion
Re: The difference between Bitcoin and Facebook's Libra
by
diahsw
on 12/07/2019, 09:32:20 UTC
Here's a detailed article on this topic by CNBC:

cnbc .com/2019/06/18/the-difference-between-bitcoin-and-facebooks-libra.html

In my view, the biggest difference between Facebook's Libra and the Bitcoin is that while Libra is a Stablecoin, Bitcoin is not!



The difference between Bitcoin and Libra, the following explanation:

How to use

Bogart explained that Libra is a means of transportation where users can send money and make transactions from home. While Bitcoin strives to be a platform to facilitate transactions, and is considered more as an investment. Michael Moro from Genesis Capital, still refers to bitcoin as digital gold. Adoption Process

Libra opens the digital currency industry with many strong players behind it, including Mastercard, Uber, Booking Holdings, Visa, the Cannacord Genuity which will help Libra achieve mass adoption.

"There is a good [opportunity] to get a lot of adoption, while bitcoin is a grassroots experiment that is still under development," said Michael Graham, analyst at Canaccord Genuity.

Libra low-cost transactions must encourage customers to use tokens to send money, analysts say. Bitcoin, on the other hand, becomes more expensive and faster in making transactions.
Characteristics

The volatile nature of bitcoin invites buyers to trade crypto currencies. Because bitcoin is not owned or regulated by any central party and lives on a decentralized network, bitcoin is vulnerable to price changes.

Meanwhile, Libra is supported by currencies such as the US dollar and euro.

"Libra is a stable coin, supported by a basket of currencies and bonds. Bitcoin is a hypervolatile crypto currency, "said Tom Lee of Fundstrat Global Advisors.