Libra Coin has dominated the news cycle, and has brought a lot of attention to cryptocurrencies. Bitcoin and Libra Coin are two cryptocurrencies that are diametrically and philosophically opposed.
Facebook proposed Libra Coin as an interest-bearing stablecoin during it's investor conference, and immediately faced scrutiny. Bitcoin was created in the wake of the 2008 economic disaster that was created in large part due to the banking sector. It was a response to the devastation caused due to lax regulations and economic manipulation. From its grassroots creation, Bitcoin and the altcoin market rose to a marketcap of $850 billion in 2017, and is on the mend in 2019. In essence, the possibility of Libra Coin has advanced Bitcoin's market adoption. Would you rather be involved with Bitcoin's evil twin or the current king of cryptocurrencies? No cryptocurrency advocate should want to deal with Facebook's newest creation.
Facebook has faced legal and congressional inquests and is notorious for being invasive on privacy. With ties to government agencies, and with known data breaches and selling for analytical data, Facebook is the antithesis of Bitcoin's decentralized and anonymous nature. Bitcoin is more trusted and supported than Libra Coin in every measure.
Picture from Pixabay.