Bitcoin Forum

In time most digital currencies will be worthless, according to the head of the centralized cryptocurrency ripple, Brad Garlinghouse.
The majority of cryptocurrencies can’t be used as transactional currency, and they are being traded like assets, according to the CEO. Ripple and the company behind it are arguably the most criticized digital assets, as the whole idea of bitcoin as the first cryptocurrency was that it should not be regulated.

https://www.rt.com/business (https://www.rt.com/business/418736-ripple-cryptocurrencies-bitcoin-zero)

Brad Garlinghouse also said that "Bitcoin — which is 1,000 times slower and more expensive than XRP — will still be used as a store of value, similar to the role that gold has played. But it won't be used for payments".

In this scenario, the value of bitcoin will decrease by quite a significant amount, but will not go to zero. This is because the payments aspect of bitcoin is already priced into its valuation. Once we take that out, the price will drop.

I think "most" is being generous. Almost all are worthless already and only have some strange forced artificial value being associated with them. Bitcoin is an exception because it brings something unique to the table, sets the tone, has a solid foundation. Ripple is heading for $0 as soon as people smarten up to their centralization schemes and price manipulation. Ethereum might have a chance of holding steady for awhile and even secure a niche position next to Bitcoin. There are very few currencies providing any real solutions or alternatives, most are just renames and piggy-backs.


I have no clue how you figure if more people use bitcoin to store value that it's cost will decrease. Please explain this to me. Are you saying that people will stop using Bitcoin more than they already have, even though developers are eventually going to increase blocksize and render most alternatives worthless?

Is 42 Coin headed to zero dollars? Just look at its value. Market forces doesn't allow zero valuation. Manipulation allows zero valuation. So if cryptocurrencies goes to zero then only manipulation is at work. Period.

No that's not what I said. What I said was that many people still expect bitcoin to expand its use as a payments method and part of the value must be related to this expectation. So, if Brad is correct in his assumption that bitcoin will never take off as a mainstream method of making payments then this will adversely affect the price of bitcoin, all other things being equal.

Obviously there may well be many other factors that affect the price of bitcoin which could make the price go up or down. Also, Brad's assumption could be wrong, if block sizes, speed of transactions and cost change for the better. In that scenario the price of bitcoin would appreciate.

Silver is $16/ounce and Gold is $1325/ounce now..

I agree if that were the case. There is overwhelming evidence that Brad is incorrect though. Everything that Brad is basing this statement on is something that can be changed instantly and already was planned for change from the beginning of Bitcoin. The blocksize is the biggest hurdle for mass-adoption, faster confirmations, etc. Satoshi originally planned for this to increase, so when it does all of his reasons for why Bitcoin will never take off as "mainstream" dissipate.


Yeah, at least you acknowledge enough for me to say you're being reasonable about it. I just disagree with Brad, because as I said it was a part of the plan from the beginning to increase blocksize. It seems like we agree on everything except for what is likely to happen for Bitcoin's development and future; I'm willing to deal with this, but I do feel firmly that these obstacles will be tackled at some point. Only greed and fear are keeping Bitcoin in its current state.

 Brad is a pompous ass who is sitting on sixty percent of his shit coin that no banker will use. He made his money off the open source of btc and now he wants to knock it down. He wants xrp to be the only coin so he can be top of the list in Forbes. So all crypto will be worthless but his, spoken like a member of the tribe

Well, I'm not convinced Ripple is going to survive as a coin either. Most of the "adoption" by banks is of Ripple's non-coin products, and it's not clear that any of the banks will keep them on, after the trial period. Especially if other coins and blockchains gain marketshare. So it's insane that Ripple's price rises everytime they make these announcements (though to be fair to investors, Ripple tries to hide the fact that it's their non-coin products that are being purchased).

Bloomberg did an interesting segment on how the banks were not interested in Ripple as a coin:

https://www.youtube.com/watch?v=NhieGgf219Y

I don't know what will or will not happen, nor whether all the "experts" (Like Brad!? and many others!) are right or wrong. I do believe though that they cannot know what is going to happen. What everybody is doing is called "guessing", a well known activity that people engage in but pass it on as an actual forecast of some future event!

What we do know is what has happened up to this point. We know that bitcoin has not entered the mainstream as a payment system. We know that it has developed much more extensively as a store of wealth. We know that there is a growing number of speculators trading bitcoin for short term gains. We know there are developments in the pipeline that will tackle speed of transactions, cost of transactions, etc. but we cannot know how effective these will be. In fact, we know very little and we too are just giving our best guess. We are as "expert" as "the experts".

Although I'm not looking at the market strategy to try to push in the popularity of ripple but obviously, we have shit coins that worth nothing and, are gradually dying off and delisted from exchanges

Ripple boss is an idiot and a liar. He has created his centralized coin and wants other coins to go to $0. This will not happen and he is lying to promote his coin.

Stop listening to people like him.

These people get press time just for stating the obvious, the majority of cryptocurrencies that ever existed already went to zero, many never went above zero value, I assume this trend will continue in the future.

BTW, some coins still have above zero value but lack any volume and don't have any buy orders, they're as good as zero value.

Well hold on a second


The miners using mining pools is centralization as is Bitcoin using DNS lookup's when
new nodes first start up and don't even get me started about bankers because the
lightning network is all about banks and worse still these bank hubs become a single
point of failure if you only open one channel.

Ripple is excellent to use for learners because if things screw up then at least you
can contact someone and it's public ledger is as good as they come and you ignore that
bitcoins LN is all "off-block"

Peek Ripple fees was about $0.01 and peek bitcoin fees was $55.00 and if you really like
bankers then you need to stick with Bitcoin me thinks

it is funny to hear this from one of the most iconic shitcoin that has existed among altcoins ever. a centralized coin that has failed to do anything apart from getting pumped and dumped.


what are you smoking ;)

If this is true.. then i'm gone! :o

But what makes XRP any more special than other more decentralized altcoins such as LTC/XLM that are also faster than BTC that are also gaining adoption in individual/small-businesses use?

The Ripple Network on the other hand caters to big corporations and big banks; however, the adoption of the use of the Ripple Network (which benefits the Ripple company) do not mean the XRP token is being adopted for actual use.

People need to understand that there is a big difference between the Ripple Network, and the XRP token.

Banks/Companies using the Ripple Network are not obligated to utilise the XRP token, and most prefers not to do so.


Meanwhile:

Online Payments Company Stripe drops Bitcoin, eyes Stellar, OmiseGO
https://www.newsbtc.com/2018/01/25/online-payments-company-stripe-drops-bitcoin-eyes-stellar-omisego/

and

Stellarport, Stellar Lumens’s Decentralised Exchange, is now live
https://www.finder.com.au/stellarport-stellar-lumens-decentralised-exchange-now-live

No bitcoin would also be used for payments once lightning network gets activated and transaction fee becomes very low.Already the fee has come down and transactions are getting confirmed quickly.

Once it again gets used as currency for payments,its demand would increase more which would only lead to increase in its price.

Ripple is just a centralized currency and people would not show interest in buying it continuously.Its just usdd more for inter banking transactions and that's why,its marketcap has increased.

I think only a few will survive in the longterm.  Say five or ten years.  Others will come and go.  But people will have to decide if they are a currency or a means of investment.  Not sure they can be both.  Because who wants there money in a currency that might drop overnight by quite a lot.  Nobody. 

Maybe a better question to ask is what are you smoking or did you think that we were running out
of numbers and no alt-coins could take over from Bitcoin which will then become a alt-coins itself.

Dear oh dear you must love them days at the start of the year when fees hit $55 per transaction
and maybe all that smoking has made you forget about these facts that will be written into our
history books much like Tulip Mania was written into history all them years ago.

Yes I know mr zio-moderator that my replay was off-topic, delete away old-chap  

this is just a fight between the centralization (being Ripple) and the decentralization (being most of the altcoins) and nothing more. they are just trying to bash the decentralized coins like banks and hundreds of others have been doing because they know they can not compete with it with their flawed systems.

unlike you i am not delusional. i know for a fact that some altcoin will eventually come along which will be performing a lot better than bitcoin and will become a lot bigger than it.
but i also know that the altcoins that are currently around either have worse problems than bitcoin or are not efficient enough or lack some major aspect such as being decentralized, that they can not even come close to competing with bitcoin.

you mention high fees, there is nothing ok about bitcoin's high fees. that is a fucked up situation. but at the same time only an idiot would think altcoins have solved this issue! many of them have already been put to test and filed to perform let alone keep the fees down.

so yeah, you either are smoking something nasty or have your head in the sand.

Compete with 7 transactions per second or fees per transaction being as high a $55 or are we talking about going off-block with lightning
with it's banker hubs or are we talking about the CPU-Wars that Bitcoin apparently needs to remain decentralized (WHICH IT IS NOT ANYWAY)

Do you know the story about the Titanic, well worth watching the film it is.

Well thanks for the insult my merit sniffing brown nose friend since I see you being paid to run adverts
in your posts.


I can agree but you seem to forget IOTA, Ripple, Evo and several others here and all the Bitcoin clones (Same software) are
heading for the bin because it's badly written and won't scale.


Yeah so please provide a link to any alt-coin who's fees have ever gone over $5 and never mind the $55 we have seen


I think people can see who's swimming without trunks here  :D

Wake up,you are fast asleep.

because he is boss of ripple he is person who has too many access to crystal ball and conduct financial forecast for us with wizards tool like this ?  :D till this day never i have saw it altcoin go to zero dollar he is not speak true thing when he say this or maybe he speak so much untill all of us begin to understand more the brain problem that has put attack on him
when a human open mouth to say ridiculous thing he must surely return to eat this disgusting gmo word that he create , eventual he will see real thing the way all of us in this place have seen or maybe he create excuse like this for own benefit  

Maybe his coin and others several hundrends worthless tokens that are alive only because people keep trading them for a quick buck will head to 0$.
But it's hard to imagine BTC, ETH or LTC ..... going to 0 now as they are being used for payment and transactions more and more now

I wouldn't take that guy seriously

If there is demand for something it has value. A lot of the cryptocurrencies have large communities behind them so i don't see that happening. He has a conflict of interest on this because he would like you to think that most are worth nothing but ripple is more valuable so therefore his opinion isn't valid anyway.

OH YES!!! That's because Ripple itself heading to zero  ;D ;D ;D
No seriously, I think Ripple will be valuable over the long term, but we will never see it over $5

I'm not sure that Ripple also survives as a coin, and whether one of the banks will keep it as a coin, after a trial period, so that Ripple's price goes up every time they make their announcement, and there are some cryptoes that once existed close to zero, probably many never exceed zero, surely this will continue for the future.

anything he says will not make all Altcoin back to $0
ethereum is also a centralized coin, although Vitalik never responds like this

this statement have no effect on the price of bitcoin or any currency, just as bitcoin have believe that the currency should be regulated and it is going to that.

do not take it too seriously. They are entitled to say anything about this field. and we as lovers of this field just need to respond calmly. because we know the field of cryptocurency is currently in the best position to enjoy.

What a claim. I would think that ripple don’t have any value since the banks are using ripple technology, not the coins itself.

Of course Mr. Ripple wants us to believe that ripple is the best. Wishful thinking. Sure there too many shitcoins that will disappear, however Bitcoin, Ethereum and a few other altcoins will survive and outlive ripple.

Well, if we really think about it, it is truly a logical thought. Because if we try to look at what has been happening lately in the crypto world, we can see that this theory is actually happening already little by little. Plus the fact that there really are hundreds of useless altcoins out there, makes anyone think the same also. But, even saying so, I really do not think that this fact will effect the market much in a bad way. In fact, I even think that it'll rather be a good thing since it will be a grrat way to get rid of useless coins that doesn't really have a great purpose.
-justsayin

I think some of what he said is true. Most of the coins are only for trading on the Crypto Stock Exchanges and at some point may become redundant. But I may be wrong.

It took $320,000,000,000 to take Bitcoin to $20,000. it has all the signs of $320 billion PONZI

Hahaha look who's talking, the maker of the worst pre-mined scamcoin.  ;D

But with some luck, XRP can serve as a transactional unit in a side chain or a lightning network, of a real cryptocurrency. No I am joking, it is going to go down hard because blacklisting and asset freezing in XRP is only a matter of time LOL

There is no CEO of Bitcoin who can get subpoenas, but there is a CEO of Ripple, that's why. ;)

He is right of course, in the sense that 1500+ cryptos cannot survive. I think especially the centralized premined ones will be worthless  ;D ;D ;D

Garlinghouse said he believes the best way of using cryptocurrency is to “work within the system,” not become an opposition to government regulation and traditional financial institutions.

Blechhhhh, I feel sick now   :-[

ridiculous. a gold alternative would drive the price to genuinely insane heights, far beyond a simple payment method. there's oceans of money swirling around the world looking for a place to go.

hardly anyone is using bitcoin to pay for anything and they never will. even if it could a billion tx per second for free, no one spends something that might be worth more tomorrow.

and why is the 'CEO' being asked about crypto anyway? ripple has nothing to do with genuine cryptocurrencies. but he is right about most losing most or all of their value. almost all of them are nothing more than casino chips.



have you ever heard of market caps? 320 billion genuine dollars put into bitcoin would drive the price of one coin into the hundreds of thousands, maybe even millions. 

At $1000, the real game for Bitcoin begins.. Look at Silver price from 1980 to 2018

He’s all sales and marketing, and trying to draw public’s awareness towards his company and coin.  The more outrages the comments, the more media attention it gains for his coin. 

if one person can make Bitcoin, then 10,000 people can make 10,000 cryptos.

Cryptocurrencies looks self-destructive/suicidal

Ripple boss gives derogatory remarks about other cryptos while boosting his own coin? Seems legit. Personally I wouldn't take his comments as a fact since all they do is market their centralized, pre-mined coin and people kept on buying into this scam for profits. Also, the same guy mentioned that bitcoin would be used heavily for store of value and not payments, but wouldn't that boost bitcoin's price into insane heights?


And on those 10,000 cryptos, how many would get the masses' attention? Probably a handful since people only focus on cryptos worth investing for.

: So the Ripple boss says that his coin is basically going to do the same thing then? His coin is like a ponzi.

It is not clear why Ripple should benefit of a better destiny than the one envisioned by its boss for all the other cryptocurrencies. I think that they all will thrive - or fall - together, since they are all now, with almost no exception, just stores of value in a giant surreal casino.

I think all of us want bitcoin and all crypto not to be regulated, but we dont have any other good option, the government only give two option is either regulate or ban, for now crypto has been used in the wrong way, it is supposed to be used as currency but because it is not stable people prefer to make it as investment

It looks even worse when someone put's it in a sentence like that and you read it back, how can people take this seriously :D