Libra's impact on BTC

[ElonRuskovski]

How does Libra impact on BTC? Is it bad for bitcoin if Libra explodes or is this scenario even better for btc price. What do you think?

 

[LiYang]

I believe that it is impossible to compare Libra and Bitcoin. These are fundamentally different tools. Bitcoin is more for the accumulation of value, and Libra is a pure payment instrument and stable coin. Libra is going to be regulated one way or another. With a centralized entity, be it Facebook or Libra Association, local regulators will send requests, subpoenas and so on. And unlike with Bitcoin regulators would have leverage since Facebook will not take the risk of being blocked by the IP. Here is a good analysis of its impact to the market.

 

[100index]

I believe that it is impossible to compare Libra and Bitcoin. These are fundamentally different tools. Bitcoin is more for the accumulation of value, and Libra is a pure payment instrument and stable coin. Libra is going to be regulated one way or another. With a centralized entity, be it Facebook or Libra Association, local regulators will send requests, subpoenas and so on. And unlike with Bitcoin regulators would have leverage since Facebook will not take the risk of being blocked by the IP. Here is a good analysis of its impact to the market.

It's an interesting and very optimistic article. If everything goes as it says there, I can be rich soon.

 

[100index]

Yes, but I believe Libra will have a positive impact on the crypto market in general and we’ll see a new 2017 with bitcoin > 20k.

 

[Harryhwilliam]

Well, Libra is nothing much than a distinction of the conventional monetary system. This can never impact the digital gold Bitcoin’s price as it is the world’s first and most popular cryptocurrency. The reason is the value scheme of Bitcoin holds a politically neutral status and it’s the medium of exchange in many countries. In a nutshell, Facebook’s cryptocurrency Libra will not affect the foremost and largest cryptocurrency Bitcoin.