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Bitcoin (BTC) Maximalist Calls XRP Useless, Ripple Responds: Details

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Tue, 02/11/2020 - 11:21
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  • Host of What Bitcoin Did podcast, Peter McCormack, chastised all top alts for 'no evidence of use'. The Ripple (XRP) and Dash (DASH) communities have something to say

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Contents

While travelling across Latin America, famous Bitcoin researcher and podcast host Peter McCormack had to spend a day at the Venezuelan border. Afterwards, he made a very strange post on major altcoin use-cases.

No use for alts

Mr. McCormack insists that only Bitcoin (BTC) is helping 'in a few niche' cases while altcoins are useless. He named almost every crypto behemoth and put it in the same league as Potato Coin (SPUDS), a barely known coin, inactive since early 2015 with the last estimated price of $0,000002.

Peter McCormack: Ripple is as valuable as Potato Coin
Image by Twitter

With that said, he concluded that the only valuable crypto is Bitcoin (BTC), though the problems of the modern world require much bigger solutions.

Ripple answered

After this provocative tweet, active members of the altcoin communities decided to explain which use-cases their coins are best suited for. Ripple (XRP) advocates were among the most active.

They named multiple examples in which Ripple (XRP) is used for cross-border remittances or for corporate transactions. A recent partnership with MoneyGram was also frequently mentioned.

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Ripple XRP Partner MoneyGram Makes Foray into Singaporean Market - READ MORE

Asheesh Birla, Senior Vice President of Product & Corporate Development at Ripple, also answered to the role and place of Ripple in the transactions between the U.S. Dollar and Mexican Peso (MXN).

Asheesh Birla on the role and place of Ripple
Image by Twitter

Also, it looks surprising that Mr. McCormack named Dash (DASH) a top-ranking useless altcoin after visiting Venezuela. It is in this country where usage of DASH via Android apps rose drastically in 2019.

Must Read
Crypto Adoption on the March, Dash (DASH) Android Wallet Usage Surges 627% in Venezuela - READ MORE

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Mon, 03/30/2020 - 12:34
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  • Two days ago Bitcoin (BTC) failed to conquer a bearish stronghold at $7,000, which sent it to sub-$6,000 areas. When can we expect the next attack?

Cover image via stock.adobe.com
Contents

Two major cryptocurrency traders and analysts believe that $6,500 may be the final level of this ‘fake rally’ before a new fall for the crypto king.

Relatively calm but targets $6,500

Seasoned crypto trader and analyst Michael van de Poppe recommended his followers to switch their attention towards altcoins.  According to him, many of them may bring profit in the short-term perspective:

$BTC is remaining relatively calm, so you can see alts pop here and there. If $BTC goes in accumulation modus, that will probably be the time that they start to kick off.  Probably during the summer. 

Although, with today's bullish momentum, Bitcoin (BTC) could reach $6,400 and even $6,500 fast.  But once it reaches this level, the U-turn is over and we can brace ourselves for a new decline.

The views of Mr. van de Poppe were shared by CryptoBirb, a prominent analyst and founder of The Birb Nest educational platform. According to him, $6,400-$6,600 is the most comfortable area for the ongoing Bitcoin (BTC) price move.

At printing time, Bitcoin (BTC) trades at $6,340 on major spot exchanges.

Don’t recommend Bitcoin (BTC) to Peter Schiff

Famous ‘gold bug’ Peter Schiff never ceases mocking Bitcoin (BTC), with no regard to bullish or bearish sentiments in the market. Yesterday, he compared the declines from the ATH demonstrated by both his beloved gold and the flagship cryptocurrency. 

Since the Bitcoin (BTC) fall has been five times deeper, he doesn’t have enough words to characterize its advocates. 

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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