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Ripple CEO: Most cryptocurrencies will go to $0


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2 hours ago, Tinyaccount said:

Yeah I know he says that, and also I've seen David say it too....   But I can't understand why they think that.  I have wondered if that is just the mantra you must say to avoid a world of grief from true believers.  I know they both were early in BTC so they probably did believe in its promise at one point when it was uniquely innovative and disruptive....  but later better versions now exist.

The thing is slow, expensive, and worst of all, MASSIVELY energy wasteful.  It is a big polluter and would get worse by orders of magnitude if ever it was world wide adopted.  Every single thing it can do is done better faster cheaper and cleaner by XRP.  So why would anyone think it's got long term value?

To be fair, BG has prefaced his long BTC comment by saying it is more of a store of value than anything else.

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BG and DS aka JK "long on Bitcoin"...I believe it...but did they say for how long lol...devil's in the details...as long as BTC is the most popular entry "currency" to get to the others it will remain useful..that should change this year or next at the most...

BG on ""most" cryptocurrencies will eventually lose all of their value"...yep...we all know that...even the creators of "most" coin know that...they are "blockchain tourist" or should I say "opportunist"...

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Im my opinion XRP and Bitcoin are opposed to each other by definition. XRP is useful and can co-exist with other forms of money. It's worth comes from it's usability.

Bitcoin however,  in it's true idea would swallow up everything and tolerate only Bitcoin as the sole world money. If Bitcoin does not succeed in this, it is likely completely worthless in the far distant future as it has no backing and no use case other than being a method of payment. When the flippening (Bitcoin ceases to be the Number 1 coin) will happen, the psychology will likely change for Bitcoin.

As there are many coins other out there which are better for payments, I do not see a case for being Bitcoin a  true store of value.The competition is there and why not chose the better coin?

So I don't like Brad being long Bitcoin, honestly.

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4 hours ago, Zockempire said:

Im my opinion XRP and Bitcoin are opposed to each other by definition. XRP is useful and can co-exist with other forms of money. It's worth comes from it's usability.

Bitcoin however,  in it's true idea would swallow up everything and tolerate only Bitcoin as the sole world money. If Bitcoin does not succeed in this, it is likely completely worthless in the far distant future as it has no backing and no use case other than being a method of payment. When the flippening (Bitcoin ceases to be the Number 1 coin) will happen, the psychology will likely change for Bitcoin.

As there are many coins other out there which are better for payments, I do not see a case for being Bitcoin a  true store of value.The competition is there and why not chose the better coin?

So I don't like Brad being long Bitcoin, honestly.

First mover advantage.

XRP vs the other crypto currencies is not necessary one against the other. Brad sees values in crypto currencies and it is not conflicting that he likes bitcoin and xrp at the same time. What he actually meant is that most crypto currencies have no real utility and no real need to exist, and those will eventually die out. 

Bitcoin got first mover advantage. It is the most widely known and used crypto currency and it will remain so in the foreseeable future. When the smaller alts die out, the money will be channeled into the remaining winners. Think how that will affect their prices. And that’s not considering the future growth of the market as a whole, as most mainstream money is not in the market yet. We are just getting started.

 

people will eventually wise up and only the coins with real need to exist will survive. And we should invest accordingly.

 

this is similar to the dot com boom with the swamp of internet startup companies. Most failed. Some got eaten up by the big companies. The rest took it all.

Edited by susli
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