Bitcoin Forum

Brad Garlinghouse, speaking at the Money 20/20 conference held this week in Amsterdam said,

I think Bitcoin is not going to be the panacea that people once thought it would be, where it would solve all of these different kinds of problems. Instead, you’re seeing specializations of different kind of ledgers, different kinds of blockchains.

Read more:  https://marketmongers.com/bitcoin-not-going-to-be-the-global-currency-brad-garlinghouse-ripple-ceo/  (https://marketmongers.com/bitcoin-not-going-to-be-the-global-currency-brad-garlinghouse-ripple-ceo/)

"Ripple is not going to be a global currency" is probably a much better statement.

Why is that not possible?
All one needs is a currency whose transaction time is at par with VISA and if not then its got to be too low not as high as bitcoin which is 42 min.

BREAKING NEWS:

MAN DISMISSES RIVAL

You failed to understand his quote. he dismisses anything as rival. He believes its all for the cause of people and our problems, the he oughts to solve through blockchain.
A NOBLE CAUSE I BELIEVE!!!

I do not understand how Garlinghouse can believe that Ripple should become a global currency. Ripple is a technology company that uses blockchain. If Google decides to create its own cryptocurrency, even this coin has a better chance of becoming global than Ripple.

That dude holds over 10,000,000,000 in XRP, which is more than 10% of all XRP in existence, and then we have some other vague individuals holding like multi billions of XRP units. He and the rest of the gang have all the incentive to steer XRP to become a toy for financial services, and they actually have done a pretty decent job in that field.

Buying XRP means you support this gang to become and remain multi fiat billionaires, so definitely don't participate in such practices. It's probably the most hated token in the industry, and rightfully so. The only people shilling for this garbage are get rich quick noobs. I would rather keep using legacy payment infrastructure than a centralized token named XRP.

Ripple is, and continues to be a centralized banker pre-mined shit-token that has 63% of the float owned by its founders.

They can "print" as much as they want, they have centralized "validators" in the form of Ripple server 1, 2, 3, 4, etc...

The proper title would be "Shitcoin CEO: My Competitor Is Scaring Me, Better Pull Something Out Of My Ass"

He can fuck off, no one would miss him.

Of course Bitcoin is not going to be the panacea to every financial and money ill ever conceived. But it doesn't need to be any of that to become a global currency. In some ways, it already has achieved this. I could possibly sell my US dollars in most countries I go to, but would need a money changer. The number of people willing to buy my currency decreases as I go from national fiat to national fiat. But I bet I could sell my Bitcoin in all and any country I visit. I'd just go to localbitcoins or Bisq and someone will always be ready to buy them, if not accept my BTC as payment.

If that's not what global currency is, I don't know what is.

If you think a filthy preminer dumping his load on innocent people later on is noble, then your definition of noble is completely different from my definition of noble. On top of that, banks will get rid of Ripple once they find out that their own centralized currency will do everything as good as Ripple does, but in a manner completely controlled by them. Ripple is nothing more than a test base for institutions, and the CEO knows that, which will motivate him even more to turn a lot people into bagholders later on. Seriously, who on earth with a functioning brain will buy something that's premined halfway through? This CEO is the wolf of crypto street.

On a related note, the world carrot consortium says Carrots will be the new global currency.

 ::)

Oh yes, we can all choose our field of specialization, work together, feel different niches. What does Ripple specialize in? Centralization and pushing a premined coin that hasn't managed to achieve anything? They were supposed to have big contracts with banks but years and a team of consultants later their market cap is not even at half of Ethereum's. In 2018 the CEO is promising that banks will start accepting it "next year" I heard about that somewhere in 2016 :D

It happens only because some countries have bad reacted against bitcoin and they try to ban bitcoin in between the country that has not good impact that is why maybe you can say bitcoin won’t be the global currency,

Everyone has the right to promote or demote any coin. It is called competition. So, it is normal to see the CEO of Ripple talking about how bitcoin is not going to be the global currency. But he should also say that even Ripple will not be a global currency too. Added to that statement, bitcoin is still encountering many issues. Yet, it is still standing on its feet and fighting against those villains. So yes, bitcoin has its supporters.