Breaking News

Ripple CEO: Bitcoin Won’t Be Global Cryptocurrency

Cryptocurrency NewsJun 06, 2018 06:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Ripple CEO: Bitcoin Won’t Be Global Cryptocurrency

Bitcoin’s has its share of naysayers who assert it will never achieve the worldwide adoption often prophesied by its most ardent aficionados. However, no cryptocurrency developer is more convinced of the coin’s flaws than Brad Garlinghouse, the CEO of Ripple.

“I think [Bitcoin is] not going to be the panacea that people once thought it would be, where it should solve all of these different kinds of problems… Instead, you’re seeing specializations of different kinds of ledgers, different kinds of blockchains,” he told CNBC.

Indeed, Bitcoin is currently facing tough competition from other cryptocurrencies that have improved upon its technology to provide new ways of storing and transferring value.

The thing is that Garlinghouse does not even consider cryptocurrencies money per se. In a February interview, he said they are more like digital assets, noting that they are not currently easy to spend in the same way one would fiat money.

Despite his opinion of Bitcoin, he refrains from pitting XRP against it, claiming the idea is not to make comparisons between the two coins.

“I don’t really think about it as one versus the other. I mean, it’s actually unfortunate, I think, that there’s some people in this, the crypto space, the blockchain space—for them, it’s almost a holy war of one versus the other,” Garlinghouse said.

Garlinghouse Talks Down Lawsuit

In the same interview, he was asked about the lawsuit Ripple is currently facing.

“Here’s somebody who held XRP for, I think, two weeks… and is making some claims. Whether or not XRP is a security is not going to be dictated by one lawsuit… I think it’s very clear that XRP is not a security, it does exist independently of Ripple the company. If Ripple the company is shut down tomorrow the XRP ecosystem would continue to exist. It’s an independent, open-sourced technology,” Garlinghouse said.

Despite his confidence in the strength of Ripple’s legal case, the company has employed the services of a former SEC boss to help with the defense

If Ripple loses, it could establish a precedent that strongly impacts the cryptocurrency ecosystem in the United States.

This article appeared first on Cryptovest
Ripple CEO: Bitcoin Won’t Be Global Cryptocurrency

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email