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Topic: Most cryptocurrencies heading to $0, Ripple boss says - page 3. (Read 583 times)

member
Activity: 454
Merit: 13

Yeah, at least you acknowledge enough for me to say you're being reasonable about it. I just disagree with Brad, because as I said it was a part of the plan from the beginning to increase blocksize. It seems like we agree on everything except for what is likely to happen for Bitcoin's development and future; I'm willing to deal with this, but I do feel firmly that these obstacles will be tackled at some point. Only greed and fear are keeping Bitcoin in its current state.

I don't know what will or will not happen, nor whether all the "experts" (Like Brad!? and many others!) are right or wrong. I do believe though that they cannot know what is going to happen. What everybody is doing is called "guessing", a well known activity that people engage in but pass it on as an actual forecast of some future event!

What we do know is what has happened up to this point. We know that bitcoin has not entered the mainstream as a payment system. We know that it has developed much more extensively as a store of wealth. We know that there is a growing number of speculators trading bitcoin for short term gains. We know there are developments in the pipeline that will tackle speed of transactions, cost of transactions, etc. but we cannot know how effective these will be. In fact, we know very little and we too are just giving our best guess. We are as "expert" as "the experts".
legendary
Activity: 1652
Merit: 1088
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Well, I'm not convinced Ripple is going to survive as a coin either. Most of the "adoption" by banks is of Ripple's non-coin products, and it's not clear that any of the banks will keep them on, after the trial period. Especially if other coins and blockchains gain marketshare. So it's insane that Ripple's price rises everytime they make these announcements (though to be fair to investors, Ripple tries to hide the fact that it's their non-coin products that are being purchased).

Bloomberg did an interesting segment on how the banks were not interested in Ripple as a coin:

https://www.youtube.com/watch?v=NhieGgf219Y
member
Activity: 182
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 Brad is a pompous ass who is sitting on sixty percent of his shit coin that no banker will use. He made his money off the open source of btc and now he wants to knock it down. He wants xrp to be the only coin so he can be top of the list in Forbes. So all crypto will be worthless but his, spoken like a member of the tribe
sr. member
Activity: 462
Merit: 336
So, if Brad is correct in his assumption that bitcoin will never take off as a mainstream method of making payments then this will adversely affect the price of bitcoin, all other things being equal.

I agree if that were the case. There is overwhelming evidence that Brad is incorrect though. Everything that Brad is basing this statement on is something that can be changed instantly and already was planned for change from the beginning of Bitcoin. The blocksize is the biggest hurdle for mass-adoption, faster confirmations, etc. Satoshi originally planned for this to increase, so when it does all of his reasons for why Bitcoin will never take off as "mainstream" dissipate.

Obviously there may well be many other factors that affect the price of bitcoin which could make the price go up or down. Also, Brad's assumption could be wrong, if block sizes, speed of transactions and cost change for the better. In that scenario the price of bitcoin would appreciate.

Yeah, at least you acknowledge enough for me to say you're being reasonable about it. I just disagree with Brad, because as I said it was a part of the plan from the beginning to increase blocksize. It seems like we agree on everything except for what is likely to happen for Bitcoin's development and future; I'm willing to deal with this, but I do feel firmly that these obstacles will be tackled at some point. Only greed and fear are keeping Bitcoin in its current state.
member
Activity: 266
Merit: 32
Silver is $16/ounce and Gold is $1325/ounce now..
member
Activity: 454
Merit: 13
I think "most" is being generous. Almost all are worthless already and only have some strange forced artificial value being associated with them. Bitcoin is an exception because it brings something unique to the table, sets the tone, has a solid foundation. Ripple is heading for $0 as soon as people smarten up to their centralization schemes and price manipulation. Ethereum might have a chance of holding steady for awhile and even secure a niche position next to Bitcoin. There are very few currencies providing any real solutions or alternatives, most are just renames and piggy-backs.

Brad Garlinghouse also said that "Bitcoin — which is 1,000 times slower and more expensive than XRP — will still be used as a store of value, similar to the role that gold has played. But it won't be used for payments".

In this scenario, the value of bitcoin will decrease by quite a significant amount, but will not go to zero. This is because the payments aspect of bitcoin is already priced into its valuation. Once we take that out, the price will drop.

I have no clue how you figure if more people use bitcoin to store value that it's cost will decrease. Please explain this to me. Are you saying that people will stop using Bitcoin more than they already have, even though developers are eventually going to increase blocksize and render most alternatives worthless?

No that's not what I said. What I said was that many people still expect bitcoin to expand its use as a payments method and part of the value must be related to this expectation. So, if Brad is correct in his assumption that bitcoin will never take off as a mainstream method of making payments then this will adversely affect the price of bitcoin, all other things being equal.

Obviously there may well be many other factors that affect the price of bitcoin which could make the price go up or down. Also, Brad's assumption could be wrong, if block sizes, speed of transactions and cost change for the better. In that scenario the price of bitcoin would appreciate.
full member
Activity: 294
Merit: 104
✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪
In time most digital currencies will be worthless, according to the head of the centralized cryptocurrency ripple, Brad Garlinghouse.
The majority of cryptocurrencies can’t be used as transactional currency, and they are being traded like assets, according to the CEO. Ripple and the company behind it are arguably the most criticized digital assets, as the whole idea of bitcoin as the first cryptocurrency was that it should not be regulated.

https://www.rt.com/business

Is 42 Coin headed to zero dollars? Just look at its value. Market forces doesn't allow zero valuation. Manipulation allows zero valuation. So if cryptocurrencies goes to zero then only manipulation is at work. Period.
sr. member
Activity: 462
Merit: 336
I think "most" is being generous. Almost all are worthless already and only have some strange forced artificial value being associated with them. Bitcoin is an exception because it brings something unique to the table, sets the tone, has a solid foundation. Ripple is heading for $0 as soon as people smarten up to their centralization schemes and price manipulation. Ethereum might have a chance of holding steady for awhile and even secure a niche position next to Bitcoin. There are very few currencies providing any real solutions or alternatives, most are just renames and piggy-backs.

Brad Garlinghouse also said that "Bitcoin — which is 1,000 times slower and more expensive than XRP — will still be used as a store of value, similar to the role that gold has played. But it won't be used for payments".

In this scenario, the value of bitcoin will decrease by quite a significant amount, but will not go to zero. This is because the payments aspect of bitcoin is already priced into its valuation. Once we take that out, the price will drop.

I have no clue how you figure if more people use bitcoin to store value that it's cost will decrease. Please explain this to me. Are you saying that people will stop using Bitcoin more than they already have, even though developers are eventually going to increase blocksize and render most alternatives worthless?
member
Activity: 454
Merit: 13
Brad Garlinghouse also said that "Bitcoin — which is 1,000 times slower and more expensive than XRP — will still be used as a store of value, similar to the role that gold has played. But it won't be used for payments".

In this scenario, the value of bitcoin will decrease by quite a significant amount, but will not go to zero. This is because the payments aspect of bitcoin is already priced into its valuation. Once we take that out, the price will drop.

member
Activity: 266
Merit: 32
In time most digital currencies will be worthless, according to the head of the centralized cryptocurrency ripple, Brad Garlinghouse.
The majority of cryptocurrencies can’t be used as transactional currency, and they are being traded like assets, according to the CEO. Ripple and the company behind it are arguably the most criticized digital assets, as the whole idea of bitcoin as the first cryptocurrency was that it should not be regulated.

https://www.rt.com/business
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