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Author Topic: Ripple CEO: As many as 99% of all cryptocurrencies will likely go to zero,  (Read 420 times)
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November 11, 2019, 12:01:59 PM
 #1

Ripple CEO believe that the 99% of crypto-currency will go to zero as those coin has no use to solve any real life problem. And some coins have grown just because of hype in the market https://cointelegraph.com/news/ripple-ceo-only-1-of-todays-cryptocurrencies-will-survive .

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November 11, 2019, 12:35:48 PM
 #2

Only bitcoin will remain, it is unlikely that XRP has a chance.
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November 11, 2019, 01:00:13 PM
 #3

Ripple CEO believe that the 99% of crypto-currency will go to zero as those coin has no use to solve any real life problem. And some coins have grown just because of hype in the market https://cointelegraph.com/news/ripple-ceo-only-1-of-todays-cryptocurrencies-will-survive .

I wouldn't disagree! Because it is indeed true that majority of the altcoins don't solve any real world issues and we don't simply need them. We don't really need a separate crypto for booking movie tickets and another one to book flight tickets! All can be done through one crypto.

However, speculation is churning a big volume for majority of the alts. If by any chance, 99% of cryptos go to zero, it's hughky unlikely Ripple will survive!

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November 11, 2019, 01:04:16 PM
 #4

I think this is just to make people panic and sold their coins in this way there will be again a loop side and people will dump their coins
this is the same strategy that will not make people make the same mistake again, like dumping , i would suggest he shold focus on their problems
in xrp community since they can't even make a solid comeback on the market, better stick to their issues

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November 11, 2019, 01:09:14 PM
 #5

Seriously? That's an obvious observation, I don't know why a CEO should be even thinking at publicly stating that.. It has been discussed so many times in this forum, but now the CEO comes and states it publicly and boom! - he makes the news. There are thousands of cryptos out there that have grown solely based on hype and marketing techniques. A very small amount have a base value from the ecosystem created from a business model(economy).

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November 11, 2019, 01:18:29 PM
 #6

And then there will be 99% of altcoins being born every minute, so nothing is new, as the process will go on and on, it's cyclical sad to say. And it's pretty obvious that majority of coins is just for pure pump-and-dump scheme. They're lucky if top exchanges are going to list them or if the projects behind have raised enough fund to keep the 'moolah' going for them.

Anyway the ironic part is that XRP is still way below it's all time high, - 90% down.  Smiley

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November 11, 2019, 01:44:34 PM
 #7

And it's highly likely that Ripple would be one of them.
It's no surprise that something built upon a technology would soon be outdated as a more advance forms gets developed. Changes are much rapid in digital world.
First of the currencies were the pioneers and they would lead into development of much complex(and much simpler) technologies that would be able to better solve the problem or create better opportunities.

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November 11, 2019, 01:45:32 PM
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 #8

haha so basically the owner of the most centralized shitcoin is calling out other shitcoins most of which are not as bad as his centralized product Cheesy
the funny thing is that as these 99% of the altcoins are dying, XRP will be ahead of all of them in the route to the graveyard.

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November 11, 2019, 01:49:01 PM
 #9

I don’t know about ripple, and I’m not sure why it’s becoming one of the top ten crypto when it’s certainly not a crypto, since there is so many asset classes available, I think ripple will be well suit to the govt bond, and it didn’t solve anything too, all they do is get rekt over the price, so they want to curse my bag of shitcoins would eventually goes to zero? I would like him to put some money into this bet to see whether they got it right.

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November 11, 2019, 02:11:59 PM
 #10

And hopefully XRP also falls into that category of crypto's that's going to zero. Unfortunately, a lot of people will get burned; so the sooner, the better, so hopefully less people will get burned, in contrast to if XRP is going to survive another half a decade.

Only bitcoin will remain, it is unlikely that XRP has a chance.
As much as I want this, I heavily doubt it. I think there will be a very very few projects that will be ever so slightly "successful".

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November 11, 2019, 02:55:13 PM
 #11

I don’t know about ripple, and I’m not sure why it’s becoming one of the top ten crypto when it’s certainly not a crypto,
it is simply because when you use the term "top" you don't really mean top you mean "the biggest and most bloated market cap". and since market cap is equal to "supposedly circulating supply" * "price" any coin with fake huge supply (in this case 43.3 billion) gets to be on top no matter how low the price is.

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I would like him to put some money into this bet to see whether they got it right.
if you check out altcoin graveyards over the past 10 years and see that the list currently contains tens of thousands of dead coins you can see what he says is not really a prediction, it is simply extrapolating the history to the future!

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November 11, 2019, 02:58:53 PM
 #12

He is just throwing random number of 99% and trying to put his ripple within 1% of cryptocurrency that can be used in real life application. Most of the partnership ripple have till now is for on-demand liquidity (ODL) previously known as xRapid rather than for actual ripple which means ripple is not being used by any of those partners which includes big names like moneygram.

Soon there will be 100s of so called fiat backed cryptocurrency in the market, the significance of ODL will be almost none.

Also read this
Quote
Back in summer this year, one of the world’s largest remittance operators MoneyGram started implementing the Ripple-developed On-Demand Liquidity (ODL) product formerly known as xRapid.

Prior to that Ripple had bought a large stake at MoneyGram
source : https://u.today/ripple-backed-moneygram-ceo-on-xrp-were-able-to-settle-billions-of-usd-in-seconds-via-odl

 
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November 11, 2019, 03:18:50 PM
 #13

Ripple CEO believe that the 99% of crypto-currency will go to zero as those coin has no use to solve any real life problem. And some coins have grown just because of hype in the market https://cointelegraph.com/news/ripple-ceo-only-1-of-todays-cryptocurrencies-will-survive .

Although that assumption sounds terrifying, I somewhat agree with it!

If we just see the initial data of all cryptocurrencies that are currently listed on Coinmarketcap which now totals to about 4,797 in all and if we take the Ripple CEO's prediction,  assuming it comes true, then we will arrive at 47.97 or rounded to 48 cryptocurrencies that could still remain in the near future which I presume would be fair enough rather than to worry of an overall crypto meltdown as predicted by crypto naysayers.

We should also take note that there are still notable crypto projects that are not yet listed in CMC so that figure above might increase a little bit. Smiley
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November 11, 2019, 03:24:16 PM
 #14

haha so basically the owner of the most centralized shitcoin is calling out other shitcoins most of which are not as bad as his centralized product Cheesy
the funny thing is that as these 99% of the altcoins are dying, XRP will be ahead of all of them in the route to the graveyard.

I think that is what it means because centralized coins have no chance against decentralized as users prefer that. Manipulating coins like ripple and pump coins are going to go that way down if there is any thing like that to happen.

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November 11, 2019, 03:31:52 PM
 #15

I totally disagree with that statement from ripple ceo because I want to know about what bases he give statements to all cryptocurrencies are going to be zero, there are so many coins are in crypto that can solve the reay time problems, I think he has something marketing statistics for ripple.

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November 11, 2019, 03:41:29 PM
 #16

So does this mean that Ripple will likely go to zero too? Since 99% of cryptocurrency will go to zero then bitcoin will be the only crypto that would claim the throne. It is expected already that bitcoin will remain since most of these altcoins are shitcoins. The only altcoin that i like to be part of these cryptocurrency is the ETH since it has some future with their smart contract just like the blockchain technology.

 
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November 11, 2019, 03:54:40 PM
 #17

I totally disagree with that statement from ripple ceo because I want to know about what bases he give statements to all cryptocurrencies are going to be zero, there are so many coins are in crypto that can solve the reay time problems, I think he has something marketing statistics for ripple.

Maybe because a lot of cryptocurrency projects(probably 95%+) is either a scam or has a useless use-case? We even have a blockchain for dentists for some crazy and bizarre reason, and what's even crazier is that it actually has "investors".

I challenge you to name the coins that you claim to solve "reay time problems".

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November 11, 2019, 03:56:47 PM
 #18

I don’t know about ripple, and I’m not sure why it’s becoming one of the top ten crypto when it’s certainly not a crypto,
it is simply because when you use the term "top" you don't really mean top you mean "the biggest and most bloated market cap". and since market cap is equal to "supposedly circulating supply" * "price" any coin with fake huge supply (in this case 43.3 billion) gets to be on top no matter how low the price is.
[/quote]
I didn’t know there is a supply cap for xrp, if that’s how to derive market cap, Ripple could easily change the supply cap to unlimited, and eventually overtake bitcoin to be the number one crypto in the universe.

Since the ranking didn’t brother with the price of the crypto, they would only care about the total market cap.

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I would like him to put some money into this bet to see whether they got it right.
if you check out altcoin graveyards over the past 10 years and see that the list currently contains tens of thousands of dead coins you can see what he says is not really a prediction, it is simply extrapolating the history to the future!
That’s very interesting observation, I didn’t know there exist so many coins that’s never been announced in this forum, I think they did it on some little known sites, and no one pay attention to it too, and those little known sites eventually go offline and become part of wayback machine. Btw there is massive changes following the biggest bull run in crypto history, most of the shitcoins created post 2017 get a lot of boosted unwanted attention from major financial websites, I’m not sure what’s going on, but it certainly help many shitcoins to get hype up, and even get into the mainstream news, kudos to the CEO to do a lot of paperwork and keep track of every single crypto over the Internet, it is not an easy task.

Self hating nerd that want to escape from reality into the cyberpunk.
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November 11, 2019, 03:57:44 PM
 #19

Yes and that is why Ripple is whoring it's technology to any business out there that can give it some use case.  Roll Eyes  They even bend backwards to

satisfy the needs of Banks in the hope that the Banks would use it as a inter Bank settlement payment option.  Angry  I agree with him that most Alt

coins will go to zero, but there are a couple out there that has a lot of potential and some people actually using it. (Monero/Dash for the Dark market

deals)  Lips sealed

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November 11, 2019, 04:01:46 PM
 #20

there are so many coins are in crypto that can solve the reay time problems,

Yet none managed to solve any...

Well, I guess he is wrong also.
There are currently 4700+ shitcoins listed on coinmarketcap plus probably twice the number that didn't have the funding to get listed there.
So even 99% would still leave us with 100 altcoin...for what?
What can a coin do that bitcoin can't? Oh..cheap fees, we have doge! Privacy, monero! Smart contracts, there is eth...so what's the purpose for the others?
Nothing, just pump and dump schemes and scams.

Has anything changed in RL usage with 4500 coins and not only Bitcoin? Not even 0.0000001%

LE:

That’s very interesting observation, I didn’t know there exist so many coins that’s never been announced in this forum,

There are 37200+ topics in altcoin announcements  Cool




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