CEO Ripple brad Garlinghouse in an interview with CNBC stated that bitcoin will not become a world currency. Previously, the Apple co-founder Steve Wozniak said he hopes that bitcoin is a true digital gold, and could claim the role of a global currency.
Garlinghouse have your opinion on this subject: “Bitcoin will not be a panacea and will not solve all problems. XRP transaction a thousand times faster, bitcoin very slow. Faith in the future of one currency is maximalist ideology“. Ripple CEO added that in the cryptocurrency world will be a lot of winners. He has previously stated that the influence of bitcoin on the price of other digital currencies will weaken.
How is the situation really
It is true that bitcoin can not boast of a quick transaction. According to statistics, the average time of a transaction, BTC – 42 minutes, the same Ripple effect is 4 seconds. Although it is worth noting that the trading volume and capitalization of the first cryptocurrencies are much higher than XRP. However, the transaction rate of bitcoin is the result of using blockchain technology, which has not yet been scaled with the expectation of a larger number of users. Ripple uses a completely different technology. The company primarily positions itself as a payment service and actively cooperates with major financial institutions.
If bitcoin and no longer the world currency, this role is not destined to Ripple. Bitcoin at least is a decentralized system, while 60% of tokens XRP belongs to the company-developer and don’t like it for many investors.
Previously on this topic in the news:
18.05.2018: Bitcoin is no longer popular! China has made a rating of TOP 10 cryptocurrencies
China has published a ranking of the TOP 10 most popular cryptocurrencies. Digital assets were assessed according to 3 criteria: technology, innovation, application. The results are shocking: Bitcoin was not included even in the top ten.
Considered 28 of cryptocurrency, the rating is as follows:
Ripple the Chinese are not appreciated – it is set in 17th place, Litecoin – 21, Bitcoin Cash appropriated in 25th place. Closes rating token NEM. Bitcoin modestly housed in 13th place. For innovation, he was awarded the highest score, but the development of technology of “digital gold” has failed.
Recall what your rating was and the U.S. Agency Weiss Ratings, in this bitcoin also received a low rating.
04.05.2018: What you need to bitcoin reached a new high? TOP 5 issues currency
After 3-month drop, Bitcoin is gradually restored. Now bitcoin is trading at $ 9600-9700, but whether cryptocurrency to return to the same height?
The TOP 5 problems that need to be addressed:
In General, experts believe that the return of bitcoin to their previous highs – a question of time, and existing problems can be solved within a year.
19.04.2018: Why Bitcoin will not replace real money?
Senior economist-analyst at Reserve Bank of New Zealand amber Wadsworth did my research and believes that Bitcoin can’t be equated to “money” because of its volatility, Central banks likely will prefer the digital currencies with a fixed exchange rate.
Wadsworth has written several articles about digital currencies. The money – these are the same tokens that can be used as a unit of account, medium of exchange and determine value. Bitcoin is the largest cryptocurrency, the value of which last year grew by 563%.
The demand for bitcoins, apparently due to the belief that investors are willing to buy the currency and at higher prices. These fluctuations reduce the usefulness of crypto-currencies as means of exchange and payment services. If bitcoin cannot be used as a stable unit of calculation, it cannot be considered a reliable form of money.
In his works, amber uses the classification of “money tree” to show the differences and similarities of cryptocurrencies with Fiat money. In fact, digital currency is not new, since the banking system interacts with the electronic money for years. Of the already existing currencies, Central banks are unlikely to choose a specific one. It is easier to introduce into the financial system a new digital currency with a nominal value and a fixed exchange rate. Bitcoin, unfortunately, can not boast.