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Will the Facebook Libra Crypto Currency Can Beat Bitcoin?
Will the Facebook Libra Crypto Currency Can Beat Bitcoin?
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 When Facebook announced that they were launching Libra, I read mixed sentiments throughout. Define beat? In what aspect? I assume most people use the price tag in USD as a measure of success.

I found this image on The Verge. Kind of fitting, no?

Ignore the irony of it all, it would appear USD is more global than anything the crypto space is trying to push out. I would agree that Libra's fundamentals contradicts the ideals of cryptocurrency. It even makes Facebook seem like a banking entity, except it is not and it most likely should not be.

Many people wonder if the FB coin would exceed Bitcoin and other major projects in the space. It might because crypto has not been about currency since more and more people picked it up. Crypto has been about early investments and speculations.

Another twist of irony is that Facebook will more than likely have the assets to back up Libra than, say, Tether. I have always seen Tether as a worse version of the "dirty fiat" everyone crypto person despises. But hey, it's for "crypto" so the dissonance is okay.

Being one of the largest social networks, you bet Libra will have better press and marketing. It will expose billions, who never cared about blockchain, to the space. Let's suppose they catch the interest of several hundred million people. Even 1% of them buying into Bitcoin, Steem, etc. would increase the current value of those coins.

Instead of focusing on your favorite coin being the most dominant, be realistic. It makes more sense for your investment to grab enough of the market shares to be profitable.

In short, Libra will more than likely beat every crypto when it comes to marketing. Given FB's massive resources, it will most likely be more valuable than most coins. Will the price actually surpass Bitcoin? We will have to find out. It is also plausible that Libra will be more "popular" than Bitcoin as it on ramps people into the space.

Set some money aside for Libra. You might be glad you did later. As for your privacy, well, that's story for another day.

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Reporting from Cryptoslate, Peter Schiff, CEO of brokerage firm Euro Pacific Capital, believes Facebook's Libra crypto currency will defeat Bitcoin in terms of stability and cost. BTC supporters Anthony Pompliano disagree. Pompliano said that the two would help each other develop. The controversy over the appearance of this Facbook crypto currency is over, because Libra is coming soon. It is said that this is called excavation on the Gemini exchange owned by the twins Winklevoss, Facebook's digital assets will become stablecoin which is supported by many international currencies. Libra crypto currency is reported to be able to be transferred between Facebook products, with zero transfer fees, which would make the social media platform a unique position in the financial services sector. However, whether this crypto currency will compete with Bitcoin remains a matter of speculation.

As one of the largest social networks in the world, Facebook has a competitive advantage for companies that want to provide global financial services. The company received funding from major supporters such as Visa, Mastercard, Paypal and Uber, each of US $ 10 million, and is preparing a conglomerate to regulate its network. According to the World Bank, the money transfer industry has a value of US $ 689 billion in 2018. This remittance will be the service Facebook wants to provide. On the other hand, one can argue that Libra targets customers who have never been targeted to be served by decentralized currencies such as Bitcoin. The adoption of Bitcoin has traditionally been broader among the black and gray markets. The use of Bitcoin every day is still rare in most parts of the world and traders are interviewed by Mashable. Traders who accept Bitcoin as payment report that the use of Bitcoin is still rare and they have difficulty adjusting to changes in the price volatility of Bitcoin.

Could it be that the Winklevoss twins are getting ready to fight over the adoption of crypto currency traders between Zuckerburg's Bitcoin and Libra documented in the 2010 film "Social Networking"? The famous lawsuit about who inventors of Facebook might have triggered an endless war. The new partnership between Flexa startup payments and the Gemini exchange of the Winklevoss twins can change that. Flexa utilizes a scanner used by large retailers to facilitate the payment of crypto currencies to large retailers through its Spedn application. This service allows people to pay for purchases with companies such as Whole Foods, Nordstrom, and Regal Cinemas using Bitcoin, Bitcoin Cash, Ethereum, and Gemini Dollar. Customers can pay cashiers with crypto currencies using the application without revealing the currency to the cashier, and traders can choose to accept payments in crypto or fiat currencies.

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Anything is possible in the crypto space. However, it is very unlikely that Libra will beat Bitcoin because it doesn't represent what a true cryptocurrency should or ought to be. Bitcoin remains the most decentralized crypto project till date.

Also, Bitcoin is limited in supply but Libra is not. This gives Bitcoin the position of a true digital store of value.

Libra can beat the banks but it cannot beat Bitcoin nor can it threaten it.

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No, it will not. This is not me being pessimistic. As a matter of opinion, I feel that Libra coin will crash if necessary structures are not put in place. Bitcoin remains the most efficient and superlative cryptocurrency ever seen.

Bitcoin is not Libra's mate, trying to compoare Libra to Bitcoin at this time is almost ridiculous. It's like trying to compare the night king to Jon Snow. I see Libra as a coin that will make maximum profit for only Mark, David (the developer) and his cohorts. Imagine how much they will make from transaction fee alone, except they adopt zero transfer fee which they've claimed to adopt. If Libra becomes a huge success in the future and attain wide adoption considering facebook population size already, the course of history will be changed but it won't replace Bitcoin's position.

It won't disrupt the banking system because their white paper says that Libra will be backed by real assets and bank notes inclusive. Facebook has over 2 billion users, this is Libra's greatest advantage, their target market. However, Libra will not beat Bitcoin

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The controversy over the appearance of this Facbook crypto currency is over, because Libra is coming soon. It is said that this is called excavation on the Gemini exchange owned by the twins Winklevoss, Facebook's digital assets will become stablecoin which is supported by many international currencies.

Libra crypto currency is reported to be able to be transferred between Facebook products, with zero transfer fees, which would make the social media platform a unique position in the financial services sector. However, whether this crypto currency will compete with Bitcoin remains a matter of speculation.

As one of the largest social networks in the world, Facebook has a competitive advantage for companies that want to provide global financial services. The company received funding from major supporters such as Visa, Mastercard, Paypal and Uber, each of US $ 10 million, and is preparing a conglomerate to regulate its network. According to the World Bank, the money transfer industry has a value of US $ 689 billion in 2018. This remittance will be the service Facebook wants to provide.

On the other hand, one can argue that Libra targets customers who have never been targeted to be served by decentralized currencies such as Bitcoin. The adoption of Bitcoin has traditionally been broader among the black and gray markets.

The use of Bitcoin every day is still rare in most parts of the world and traders are interviewed by Mashable. Traders who accept Bitcoin as payment report that the use of Bitcoin is still rare and they have difficulty adjusting to changes in the price volatility of Bitcoin.

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Everything is possible but then it that must happen it would really take a very long while because Bitcoin is quiet far ahead. Cryptocurrencies are quiet unpredictable

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I don't think so. With the fact of so many personal information that pass through (leaked) to unwanted partied in social media,  no one will take a risk in money transaction in social media such as fb. I think (At least in a short time ) Facebook Libra Crypto will not beat Bitcoin. 

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Absolutely Fakebook coin will beat the use of Bitcoin and also the amount of dollars held in it. Fakebook has 2.4 Billion users. Bitcoin has maybe 60 million users. If the average holding of Fakebookcoin was $200, Fakebook coin would overtake Bitcoin if everyone had it. But Fakebook coin is not a true crypto. There is no privacy, it is centralized, and fakebook will of course retain a system to shut down and deplatform individuals and seize funds and deplatform people. This is the fakebook way of things. It may be used more than BTC and may be higher market cap in future but so is the USD and fakebook coin is much more like USD in a totalitarian regime than it is like the USD or like Bitcoin.

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