Quote from: freedomgo on August 16, 2019, 05:36:15 AM

Quote from: bryant.coleman on August 16, 2019, 02:49:11 AM

Quote from: freedomgo on August 16, 2019, 01:37:59 AM

Quote from: saba1256 on August 15, 2019, 06:20:45 PM

As you know Facebook announced their own cryptocurrency LIBRA but various legislation needs to complete before launched, so after launch can buy but this will be stable coin and will not affect BTC price.

Directly it won't, but indirectly it will, once people get educated with what is libra and eventually use it, they will be introduce in the crypto market and they will surely know about BTC which is a good investment, not only that, this success of Libra will also become a great help for altcoins to recover as investors would certainly touch them knowing they are so much undervalued.

Your arguments sound weird. How is Libra going to help the shitcoins? And I am quite sure that by the time Libra comes to existence (mid-2020), many of the shitcoins will cease to exist. Libra can be a competitor to the altcoins (especially for stablecoins such as USDT, USDC and PAX). I can't imagine a scenario in which the introduction of Libra is going to help the alts in regaining their lost value. It may help Bitcoin, because many of the Libra users may shift to BTC in the future. But I don't think that any of them will shift to altcoins.

In case everything goes as planned for Libra, then the coin will be introduced sometime in 2020. The point to remember here is that Libra is supposed to be a centralized stablecoin, unlike Bitcoin which is a decentralized dynamic coin. Many of the existing FB users will start using Libra (and the vast majority will be using crypto for the first time in their life), and after a while many of them will start exploring BTC. Introduction of Libra can result in more users to BTC in the long run.

I didn't say it's gonna help shitcoins, altcoins that aren't performing yet are not automatic shitcoins.
I know that Libra is a stable coin but it's popularity will help people to be aware of the crypto market because it's still being traded here in the space in different exchanges, probably the big ones.

People when start using Libra will not close their eyes and will focus on using Libra alone, they will become curious with the existence of BTC and altcoins, and eventually will explore it. As you said, it could affect BTC, so if BTC will rise and hopefully make a new ATH if it will not happen this year, it's expected that altcoins will follow, based on the price trends in the past.

It is doubtful that libra will help to become cryptocurrency more popular. Facebook is getting less and less popular, the number of users is declining all over the world. What is more, in China it will be impossible to use it.