Post
Topic
Board Bitcoin Discussion
Re: The biggest challenge facing Bitcoin (and all cryptocurrency) this year
by
stompix
on 28/01/2020, 18:04:24 UTC
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Does that mean the existence of coins like Libra will disturb the existence of (decentralized) cryptocurrency? In other words, whether the existence of a coin like Libra will make cryptocurrency holders will mutate from (decentralized) cryptocurrency to a centralized digital currency?

Nobody knows and nobody will be able to answer, and if does, like the guy above it's a totally biased view.

From the very first start, libra doesn't exist, we don't know what form it will take we don't know what the incentive for using it are we don't know the pro and cons
It's like discussing the flying car vs hyperloop before both of them are up and running.
We don't know the fees of Libra we don't know who is planning on adopting it as a payment method and we don't know how bitcoin would look at that point in time.

If libra will be easier to use, it will work like a bank account where you can ask for refunds you have tech support and you won't have to worry about private keys a lot of people will use it, it's a harsh reality but for most a centralized coin is better, just how some people buy gold on paper and other buy lingots.

But from a strict holder point of view, a guy that seeks a store of value and not a daily spender, libra makes no sense.