Re: Will Libra Coin bring Down Bitcoin's dominance

Quote from: lionheart78 on October 01, 2019, 07:05:20 PM

Quote from: coin-investor on October 01, 2019, 11:37:15 AM

I would like to play devil's advocate
From this article I read

Quote

Unlike the volatility seen around other cryptocurrencys in the past, we believe that Libras focus on creating a stable, low inflation currency backed by a reserve or real assets is a differentiator. Further, unlike other stablecoins, Libra will not be pegged to one currency but instead a basket of assets ranging from bank deposits to short-term government securities.

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

Will Libra Coin bring Down Bitcoin's dominance in the market, your thought?

That shouldn't be the question, the question would be should LIBRA be able to launch in the market? There have been lots of opposition regarding the launch of Libra.
https://cointelegraph.com/news/how-facebook-libra-is-seeking-compliance-but-may-not-launch-by-2020
https://www.forbes.com/sites/jasonbrett/2019/09/28/congress-questions-the-sec-on-libra-cryptocurrency-and-the-whole-blockchain-phenomenon/#7991717e5135
https://cointelegraph.com/news/german-finance-minister-says-govt-must-reject-facebooks-libra-coin

And if ever it is launched, it will definitely bring down Bitcoin's dominance percentage in the market because it will eat some percentage on that 100% pie. The extent on how huge is still unknown because it has yet operating. Yes, it is a very controversial currency but I believe it won't eat much of Bitcoin dominance since not all facebook users will be using Libra automatically.

and from those facebook users that will initially use libra coin, these users later on will learn the difference between libra and bitcoin, they might eventually go for the latter. their privacy is at stake with libra. and i dont think most people will prefer to have open lives to this platform!
is it okay for you to receive notifications inviting you to some event that you have absolutely no idea and no interest of! or getting a message from nobody that they know you are in town and offering you to a spa for huge discount because you are a libra user? i think this will turn into a creepy app sneaking on your private lives. if it will ever come to life!