Most cryptocurrencies heading to $0, Ripple boss says

[leopard2]

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

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

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  

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   

[European Central Bank]

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.

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.

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.

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

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. 

[First77]

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

[Ciscopro2000]

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. 

[First77]

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

Cryptocurrencies looks self-destructive/suicidal

[dothebeats]

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?

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

Cryptocurrencies looks self-destructive/suicidal

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.

[jayc89]

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

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

[Moana]

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.

[Indrawan77]

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

[Zeeks]

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

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

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