BTC and influence of Libra.

[pelana vreo]

Facebook’s fiat and government bond backed cryptocurrency Libra is widely considered a net positive for bitcoin.Still do you think that,Bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency?

I think Bitcoin and Libra are very different and cannot be associated with the use of Bitcoin if this project fails, Libra has a lot of pressure from several countries because they want to make a global currency and will compete with fiat currencies.
whitepaper Libra https://libra.org/en-US/wp-content/uploads/sites/23/2019/06/LibraWhitePaper_en_US.pdf

Libra is designed to be a stable digital cryptocurrency that will be fully backed by a reserve of real assets — the
Libra Reserve — and supported by a competitive network of exchanges buying and selling Libra. That means
anyone with Libra has a high degree of assurance they can convert their digital currency into local fiat
currency based on an exchange rate, just like exchanging one currency for another when traveling.

Bitcoin I think it has nothing to do with libra coins if the price goes down one day, Bitcoin will always be the choice of investors because Bitcoin has a limited inventory, let's look at 2020 before Bitcoin Halving whether prices will go up or down.

[I-Bit]

I am not really sure that Libra will be launched soon. US government makes a big intervention and Libra project may be stopped. It is bad news for people who expect to have Libra and hold it. This bad news may bring bad influence on BTC price currently, but today it seems to have no big influence.

[therozaq]

Facebook’s fiat and government bond backed cryptocurrency Libra is widely considered a net positive for bitcoin.Still do you think that,Bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency?

Libra is facebook's cryptocurrency.. i think  it is a good thing.  Because face book is one of the big companies  in the world.  But we must know,  bitcoun is still the King of cryptocurrency.  It will exist for along time again.  Libra cannot influence the bitcoin

[rizqillah]

Facebook’s fiat and government bond backed cryptocurrency Libra is widely considered a net positive for bitcoin.Still do you think that,Bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency?

Yes,  I see many people  say that.  Bitcoin has come under pressure  ahead of the UD Govermental hearings on Facebook 's Libra cryptocurrency.  But I dont believe they can beat the bitcoin.  Bitcoin is the  pioneer of crypto.  It wil take several years

[Bobcrypto]

Well, i think the news about libra launch is one of those positive news that drives or enhances the price of bitcoin, but these two projects are different and have nothing in common. Bitcoin price has been known to moving must times on certain news positive or negative news, and in some cases, strong speculation from Social media platforms.

[Uina]

I know Libra has been making news around crypto and social media months ago but then I've read that it was put on hold. I wonder what was the reason of holding it? Does it possess great threat?

[Alcor]

It is unlikely that the Libra stablecoin will already have any real impact on Bitcoin, even if it is issued. Recently, it has been considering the possibility of several options for providing this stablecoin with one type of fiat currencies of states. Therefore, Libra will no longer be distinguished by the provision of a whole basket of various state currencies and even securities, and will be the same ordinary stablecoin, of which there are already hundreds. In addition, Zuckerberg in the US Senate promised that this coin would have nothing to do with Facebook.
However, to see what it will be necessary to first wait for her appearance.

[Blaze]

I know Libra has been making news around crypto and social media months ago but then I've read that it was put on hold. I wonder what was the reason of holding it? Does it possess great threat?

I doubt it because some time ago a big investor and CEO of the Libra platform.

[mlawson71]

What about him? What did he do?

[bayiajaib]

Facebook’s fiat and government bond backed cryptocurrency Libra is widely considered a net positive for bitcoin.Still do you think that,Bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency?

No, I don't think bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency. Bitcoin is still the King of crypto currency, So I don't believe there is coin can beat or press bitcoin at this time. Bitcoin has shown good progress now, bitcoin is rising and will continue untill the middle next year.

[Tanimariya]

It is also doubtful whether the current Facebook Libra has been created. I did not see this coin on any cryptocurrency exchange. However, there is a separate section in our village for Libra. This is not about Bitcoin at all. But I think there is a possibility of libra being created in the future. However, I am not sure whether it will happen in the future. However, I have seen in various news that the owner of Facebook did not agree to that. Cryptocurrencies are not approved worldwide. However, libra will be popular in the bitcoin market.

[Anthony Estiva]

I think they will ve some sort of differences in bitcoin when the new President has been elected. Because, the department head of their bank and investment may change some bond and investment and will more focusing on some currencies.

[Noverteno]

If the Scales were released last year, as planned earlier, then even in this case, one cannot say that they would somehow significantly affect Bitcoin.  The Libra project has already missed its time and even if it had been implemented and Libra had been released, it no longer even had a significant impact on stablecoins, not just bitcoin.  However, there has been no serious news on the release of Libra for a long time.  In one of the threads in the Libra section, I saw information that the price of Libra will be $ 0.004 and this is a failure for her.  I agree with that.

[Positive]

First of all, we don't know what Biden stance towards Bitcoin will because he seems to also affect by the previous Twitter hacker attacked but with Libra crypto introduced, some of the government don't see Bitcoin as a threat like they see Libra coin which is the reason the US and EU government are against the creation of the Libra coin but the team involve seems not to back off either way.
Let keep our fingers crossed until we fully understand the new President's belief about the whole issue.

[sky20]

Facebook’s fiat and government bond backed cryptocurrency Libra is widely considered a net positive for bitcoin.Still do you think that,Bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency?

The news is not 100% true but if btc under pressure by Libra the cryptocurrency market don't care about the particular issue .The new govt of USA has been supported btc by second way .They can't support to btc directly but they want the currency continue .