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Brad Garlinghouse Interview - SEC Ripple Lawsuit, XRP, ODL, CBDCs, Bitcoin


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0 - 6.00 About his background 1997 live in Bay area and was a techy The Peanut manifesto at Yahoo. 6.00 when he joined Ripple was working on 3 projects - global ID project/ Smart Contra

I sat through it all- sorry my opinion is unchanged, they need to change Brad.  I used to think he was collegiate and a good chooser of staff, and as CEO that was all he needs to do.  I think it might

You are wasting your time.  People who don’t understand or believe there is a climate crisis are immune to explanations and to science and logic in general.  They are the same folk who believe in some

Does Brad get one Bitcoin from Barry Silbert for every time he says he is bullish on bitcoin in an interview?

This is getting very weird.

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Playing nice with the other kids makes life easier on the playground;  once out of the sandbox/on their own, everyone can go their own way (cue Fleetwood Mac) - but they'll almost always run into each other every once in a while, school ties and all.  (I was more the headmaster ritual type - but I toughened up, rather nicely.)

Edited by NightJanitor
now i run the jukebox
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Listen Brad, there are two options.

Either energy is a limited resource (renewable or not) and climate crisis is real,

OR we’ve been all lied to, climate crisis is a hoax, and there is unlimited energy in the cosmos that the elite can somehow tap in to.

In case the energy supply is limited and climate crisis is real (the current narrative), Bitcoin has to be eliminated because it already takes up massive resources (75 gallons of oil per transaction, by your own statement), and each doubling of the Bitcoin price will double those needed resources. That is the nature of Proof of Work. Ask David to explain this to you. You can't make Bitcoin energy efficient.

In case the energy supply is unlimited and climate crisis is a hoax, then Bitcoin also has no place in the future, because the security mechanism of Bitcoin (the assumption that accumulated proof of work cannot be recreated) is broken by design, and all mining hocus pocus is useless to solve the double spend problem.

Which one is it?

Either way, XRP’s consensus is the solution. As envisioned by Jed McCaleb in 2011, and developed by Schwartz and Britto and many others.

See this historic blog post presenting the idea:

https://bitcointalk.org/index.php?topic=10193.0

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I sat through it all- sorry my opinion is unchanged, they need to change Brad.  I used to think he was collegiate and a good chooser of staff, and as CEO that was all he needs to do.  I think it might have been enough, but Brad is too repetitive, short on vision and his sales of XRP into the bear market were simply too big a conflict of interest to be brushed under the carpet.  Ripple need a new face. 

I felt I learnt nothing new from this interview, and surely there were some insights he could have shared without talking about the details of the case.  He should have taken more time to thank Jon Deaton who seems to have saved his company's bacon

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2 hours ago, Julian_Williams said:

time to thank Jon Deaton

The video kind of illustrates the necessity of XRP holders having their own representation, doesn't it?  Brad runs a company called Ripple.  He's, apparently, personally long bitcoin.  XRP holders, largely, don't give a crap about bitcoin - and don't like that the guy running Ripple likes it - since the thing they own and use (XRP) is better than BTC, specifically when it comes to a variety of the very objections (speed, cost, sustainability) that most of the people in this thread on this XRP forum have already elucidated...

It's almost like Ripple is a separate entity from XRP and has its own interests, some of which align w/those of XRP holders and some which, to hear most XRP holders, don't.

Deaton's point, exactly... :)

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'cause it mooooves me.
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41 minutes ago, Julian_Williams said:

0 - 6.00 About his background

1997 live in Bay area and was a techy

The Peanut manifesto at Yahoo.

6.00 when he joined Ripple was working on 3 projects - global ID project/ Smart Contract and Payments - decided to focus on payments.

8.00 Need for identity tech

9.00 Mike Arrington 

10.00  He is a very private person with a sense of humour

11.30 - First encounter with crypto 2012 - conference - Bitcoin - he is long on BTC and very bullish on BTC.  Only other coin he ha had a lot to deal with is File coin

14.00 SEC lawsuit - he has to dodge some questions, but SEC are wrong on the facts and wrong on the law. He is hopeful of a constructive outcome.

Discovery surrounding ETH is the biggest win so far.

16.30 Jay Clayton - very clear Clayton was anti crypto. Throws around stuff about Hinman and Clayton that we all know.

18.00 Gary Gensler - much more knowledgeable about crypto

Discovery will show how they do not understand

19.00 Jon Deaton - big surprise to everyone

20.00  - what would be ideal outcome?  He wants closure and clarity, but there is a difference between ideal outcome and pragmatic outcome.  We have clarity in countries outside the US.  SEC has failed to provide clarity and tell us where the "dark line" is.   How can you delist XRP and list Chain-link.  How can the industry work together?

Needs o reach a clear settlement.

23.30 Does Congress need to step in - yes for sure.  SEC could have used a rule making process, SEC chose to use enforcement as their tool.  @Court system will not solve the problems for everyone else, we need clarity through legislation.  US had clarity for set up of Internet, which is why people moved their Internet business to the US.  UK, Japan and Singapore are leading and have certainty

26.00 Has Ripple lost many customers mostly good new - 20 new customers etc.  90% customers are non US customers.  non of the new customers are US based.

Moneygram stopped, but big deal on Tranglo.

28.00 Will be leveraging ODL, still using ODL.

29.00 - are the US conversations with US on hold? Yes there is a big head wind in doing business with US companies. 

30.00  what is the vision for XRP started with payments -extending these services like credit service. 

Talks about Amazon, and Brad uses his analogy about starting with verticals and expanding use cases like Amazon did.

Ripple still growing in staff

33.30 which r banks are you working with - have to respect privacy agreements.   He has seen the rumours - XRP is extremely scalable and efficient.  Ripple are ina  unique postion to provide central banks with services. 80% of Central Banks are actively investigating CBDCs.

36.00 Thoughts about China and US as reserve currency  China are being very smart. 

Ripple have been successful because has a big picture with a strategy.  US have fallen behind in having no strategy.

38.00  Talking with lost of governments around the world. 

XRP ledger is extremely efficient, and energy consumption does matter. PoW is very energy expensive. 

39.30 problem of PoW not being scalable

Brad is VERY BULLISH on BTC and then he rambles about saving energy in the future 

41.30 Escrow - what is the plan for moving the escrow forward - burning, distribute?  Some misinformation.  Ripple has not interest in dumping XRP - escrow provides transparency.  He is open to new ideas. 

43.30 Where do you see Ripple in 3 - 5 years Internet of Value provides compelling opportunities and nothing has changed.  How to leverage XRPL for other use cases. Ripple are the largest investor in crypto.  

45.00 when Ripple IPO?  Have to work with the SEC first.

46.00 About the crypto  market in general/  Now at 2.2 trillion dollars - very positive.  Money supply 25% per year will cause inflation Cannot predict short term dynamics but the big picture is that crypto market has a long way to grow. 

48.30 - what is the next big thing in crypto - he dodged that question.  NFTs are her to stay, tokenisation is underway.  FTs took him by surprise. ore and more payments solutions.  Elon Musk is interesting.

51.30 Carbon footprint - is it (BTC) a necessary evil.  He is NOT trying to attack BTC - he is VERY Bullish on BTC.  Powercuts in China took BTC down last week, but BTC is really good at some things.

Rapid fire questions.

 

Heroic work. Thanks!

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42 minutes ago, Julian_Williams said:

I sat through it all- sorry my opinion is unchanged, they need to change Brad.  I used to think he was collegiate and a good chooser of staff, and as CEO that was all he needs to do.  I think it might have been enough, but Brad is too repetitive, short on vision and his sales of XRP into the bear market were simply too big a conflict of interest to be brushed under the carpet.  Ripple need a new face. 

I felt I learnt nothing new from this interview, and surely there were some insights he could have shared without talking about the details of the case.  He should have taken more time to thank Jon Deaton who seems to have saved his company's bacon

Will your opinion change if the case against him is dismissed? Cause it really looks like it's heading in that direction. 

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