Home Blockchain Ripple Chief takes a jibe at Bitcoin as XRP continues to tumble

Ripple Chief takes a jibe at Bitcoin as XRP continues to tumble

Brad Garlinghouse, the chief executive of Ripple who is known to low ball Bitcoin is back at it again, and in his latest rant, he says that he highly doubts BTC’s potential to transform into a major payments network.

Notably, Garlinghouse has taken a jobe at BTC at a time when XRP has gone another week without reaching in the green zone. 

Ripple takes a jibe at Bitcoin

In a recent interview with the Wall Street Journal, Garlinghouse stated that currently, Bitcoin is in no position to become a means of payments.

Brad’s statement reads as follows: “I’m bullish on BTC as a store of value, but not for payments. You don’t want to use BTC at Starbucks b/c by the time you get your coffee, it’ll be cold.”

It is no big surprise as Asheesh Birla, SVP of products at Ripple agreed with Brad’s statement.

Garlinghouse’s latest statement in regards to BTC was not taken well with many Bitcoin analysts.

 Udi Wertheimer, a BTC analyst expressed his opinion saying that narrative and marketing are the most crucial aspects of cryptocurrency and during the escalation of geopolitical tensions at the start of 2020, Bitcoin’s store of value narrative for BTC was fairly visible.

Wertheimer then went on to say, “Ripple will all but end up flipping Cardano in 2020 if it fails to get its act together and update its talking points.

Let’s not forget the Technology

If the need for solutions like the Lightning Network (LN) arises, Bitcoin would be a perfectly good method for payments and transactions something which apparently Garlinghouse has not paid attention to.

The main purpose of this layer-two micropayments technology was to open channels between merchants and customers to allow instant transfers over the Bitcoin network.

As per data provided Defipulse, in comparison to the same time last year, LN usage has grown by nearly 274% in terms of total value locked in USD. 

Bitcoin has grown by nearly 55% for the same period as per Defipulse which shows that BTC usage is actually growing.

Liquid a sidechain that permits rapid low-fee transfers between trusted firms like cryptocurrency exchanges is another viable solution.

Notably back in the previous year, in spite of having 85%, it was not the best performing year for Bitcoin. 

Ripple was one of the worst-performing crypto assets in 2019,  dumping 47% to finish at a two-year low.

As per reports, investors have demanded more transparency from Ripple and have been even more triggered by XRP’s latest token supply manipulation.

Some leading XRP experts have also called for hard forking the blockchain for further decentralization. 

Safdarali Rizvi
Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities drives him to enlighten the entire Geekymint team with exclusive and intriguing news. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.


Please enter your comment!
Please enter your name here

Must Read

The free football streaming alternatives to hesgoal.com (Safe&legal)

I as well as all the other football geeks out thereknow how important it is to not miss any of that thrilling...

The Best Torrent Search Engine Sites To Find Safe Torrents (100% Working)

Torrent search engines are not your regular web search engines like Bing or Google. A regular search engine like Google is usually...

Everything you should know about the safest free anime app

Plenty of people don't know much about Crunchyroll. Or don't know everything I am going to tell you about them. You'll be...

Is Chrome The Worst Browser?

The balance between convenience and security has always been precarious in the online world. And it’s on the offside of this that...

Top 11 Music Torrent websites in 2020

Music can instantly lighten up your day. The taste of music from people all around the world varies. But we believe everyone...


ThopTV – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, FireTV

About ThopTV movies ThopTV has been around for many years, initially, a user could download the app for an Android Device directly through play store....

9 best ThopTV alternatives for free streaming and Live TV

Streaming apps like Netflix, Amazon Prime, Hulu etc have all become a household name, thus proving that the Internet is the new...

Cyberflix TV 3.3.1 – Download Cyberflix App Apk on Android, iPhone, iPad, iOS, MAC, PC & Firestick

About CyberFlix TV CyberFlix TV is an online streaming app on which you can watch free movies and TV Shows. The app has been shut...

Mobdro – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick & FireTV 

About Mobdro Mobdro App is one of the latest introduction into the free movie streaming app market. Mobdro is rapidly dethroning some of the big...

Stock market expert Marc Faber makes his first investment in BTC

In what could be a significant uplift for the most famous digital asset, Bitcoin (BTC), earlier in the week, one certain Marc Faber announced...