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Ripple CEO Brad Garlinghouse: 99 Percent of All Crypto Goes to Zero

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  • Alex Dovbnya
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    Ripple CEO Brad Garlinghouse once again states that only those cryptocurrencies that have real use cases will be able to survive

Ripple CEO Brad Garlinghouse: 99 Percent of All Crypto Goes to Zero
Cover image via www.flickr.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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During his most recent appearance on Bloomberg, Ripple CEO Brad Garlinghouse has reiterated his prediction that 99 percent of all cryptocurrencies could become worthless in the future. 

"I have said publicly before that I think 99 percent of all crypto probably goes to zero, but there is that one percent that I think is focused on solving a real problem for real customers and is able to do that at scale," Garlinghouse told Bloomberg.   

He recalls how Ripple moved from illicit use cased, such as SilkRoad, to a speculative bubble while forecasting that 2019 and 2020 will be all about the real utility of digital assets.  

"It's the reason why Ripple has been focused on a specific customer, a specific problem, and we've been fortunate to build a lot of momentum with that customer set."  

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SWIFT is more volatile than XRP

Garlinghouse further explains why Ripple would be a better alternative to SWIFT, the leading messaging network for financial institutions. He claims that SWIFT is more volatile given that it takes two or three days to settle a transaction. Meanwhile, your ordinary XRP transaction only takes a few seconds, which is a major selling point for Ripple. 

"It turns out that the volatility risk is lower with an XRP transaction."  

Earlier, the Ripple boss claimed that SWIFT failed to fix inefficient cross-border payments, which is why banks don't like it.  

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The XRP sell-off

While addressing XRP's grim price performance, Garlighouse states that they pay attention to prices over the long haul. Unlocking the potential of digital assets could be a decade-long journey. However, he does think that there is a lot of "bullish trends" for the whole crypto ecosystem.

As reported by U.Today, Ripple will hold its annual SWELL conference on Nov. 6-7. Strangely enough, the XRP price struggles to rally ahead of the much-anticipated event the way it did in 2018 and 2017.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
    📰 News

    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

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"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

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Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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