Bitcoin, Ethereum, Ripple: What Does the Future Hold
$BTC.X $ETH.X $XRP.X
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.
It is this same mindset that has powered G-BiT, a currency has to be transactional and transparent.
“It’s not clear what the use case is. It’s not clear what the value proposition is. Long-term value will be dictated by the utility of that asset,” Garlinghouse said, as quoted by Business Insider. He was speaking at a Goldman Sachs technology conference in San Francisco.
Ripple peaked $3.31 in January and fell to around $1.00 this week. The idea of the token is to act as a bridge between international bank transactions, not to become the alternative for fiat currencies. The majority of ripple tokens are held by the parent company, meaning that it can regulate their price.
Garlinghouse said he believes the best way of using cryptocurrency is to “work within the system,” not become an opposition to government regulation and traditional financial institutions.
He also gave a nod to the idea that bitcoin — which he says 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 Garlinghouse’s opinion.
Got questions on Bitcoin, Ethereum, Ripple or BitConnect? G-BiTX has the answers, the company has launched a channel on Telegram to help people navigate the world of CryptoCurrencies.
Join the Channel Now, Click Here
Transparent Exchanges are the Future of Bitcoin
There is no doubt some CryptoCurrencies with fail, some will be scams, and some will live on to change the very nature of money and wealth, no wonder the old dudes are scared.
CryptoCurrencies is not about Tax Evasion or Money Laundering, real hardcore fundamental CryptoCurrency Exchanges like G-BiT have seriously tackled the Money Laundering and Tax issues, that’s why they have such a bright future. While the Establishment still wants you to be hit with heavy fees and delays sending money around the world the reality is that is legalized theft built in to the Banking Sector and is not a product of cost or reality, CryptoCurrencies have proven that!
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