Bitcoin a Ripple: there’s no competition here, Brad Garlinghouse thinks.
Bitcoin fans are certainly not people who should be asked for an objective opinion on Ripple and XRP token at all. But should the two projects be compared and are they in competition with each other? Brad Garlinghouse, that’s not.
Ripple is a scam?
According to U.Today, Bitcoin’s programmer Peter Todd recently compared Ripple with Theranos. It wasn’t a compliment.
Theranos is a U.S. biotech company that existed between 2003 and 2018. It went bankrupt in September 2018. The company was founded by 19-year-old Elizabeth Holmes, a former Stanford University student. Theranos manufactured equipment that was to perform a full range of laboratory blood tests within a few hours, using only one drop of blood. However, tests showed that the company’s technology only worked in 12 out of 100 cases.
In 2014, the company was valued at $9 billion. Following an investigation by The Wall Street Journal, which found fraudulent testing, the U.S. Department of Justice brought charges against Theranos’ founders to deceive the investors.
In short, Todd suggests that the Ripple technology is not successful and the whole project is overrated.
A Bitcoin fan
RippleThe above is one side of the medal. The creator of XRP himself, Brad Garlinghouse is said to be a big fan of BTC. During an interview with Fortune in June, he revealed that he played BTC for a long time. He does not see Bitcoin and XRP as direct competitors either, as the former now serves as a value storehouse and the latter may be more useful as a means of payment.
It does not pay to lower the price
That doesn’t change the fact that Ripple is very controversial. In an interview with CNN Garlinghouse, he raised the issue of selling XRP tokens. He added that it is not in his company’s interest to dump their price.
“Yes, Ripple has a lot of XRP, we are very interested in the success of XRP, dumping, is not in our best interest.”
– he said.
In addition to owning a 6.3 percent stake in the $10 billion company, Garlinghouse itself has an impressive stock of XRP tokens, making it one of the richest people in the world with an asset of as much as $9.5 billion (January 2018 valuation).
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