Bitcoin, Crypto currency, Blockchain

Bitcoin vs. Ripple: What is the digital world’s reserve currency is?

The question of what crypto currency in the future as a global weltleit crypto currency across all national boundaries and used to enforce a non-ending discussion. Steve Wozniak is an avid Bitcoin Supporter and argues that Bitcoin will exist as the only crypto currency in the world. CEO of Ripple, Brad Garlinghouse, which looks different, of course.

Apple Co-Founder, Steve Wozniak, reiterated its support for Bitcoin as a global currency, and carries out that Bitcoin is not controlled by any company in the world, and it “grows naturally” (freely translated):

Bitcoin is mathematically defined, there is a certain amount of Bitcoin, there is a special way they are distributed … and he is “clean” and there is no person and no company, which keeps him alive . . . and it grows and grows. . . and survived. And that shows me that he is Natural, and nature is more important than all of our human conventions.

Similar also to Twitter founders Jack Dorsey, in mid-March, in an Invterview told the New York Times clear that the world’s reserve currency will be, in his opinion, clearly Bitcoin (freely translated):

The world will eventually have a single currency, the Internet will have a single currency. I personally believe that it will be Bitcoin. This would probably happen about ten years, but it could go faster. Bitcoin will overtake the Dollar in importance, as it will within a decade for a single global currency of the Internet.

The biggest difference between Bitcoin and Ripple is that it does not control the entity, the Bitcoin. Even if Ripples CEO has made in recent times, efforts to distance themselves from the native currency XRP, the relationship is always there. If Ripple is really decentralized, we have discussed in detail in this article.

In a yesterday’s Interview to CNBC Garlinghouseaus not that Bitcoin translated the All-in-one solution when it comes to the question of a world currency (free):

I think it will not be the panacea that people thought earlier that it would solve all of these different types of problems. Instead, you will see specializations of different types of ledgers, various types of block chains.

Furthermore, he added, even if he was not asked directly afterwards, that transactions of Ripple are a thousand times faster than that of Bitcoin. This may be the case, however, is implemented by the Lightning network, the solution that both the transaction cost and the transaction time greatly reduce and use as a global means of payment might allow.

Garlinghouse sees in the crypto currency market, no competition, but he is of the opinion that there will be many winners all of which have their raison d’être. Nevertheless, there exist currencies in his opinion, in 10 years, only 1% of the time on the market of Crypto. Garling house continues to assume that the influence of the bitcoin price is sinking on the Altcoins in the near term, if investors have recognized the actual Benefit of each crypto currency.

Although Ripple is as a company, one of the XRP currency separate unit, are 60% of the Ripple Supplys in the possession of the company. Due to this fact, the Ripple in San Francisco was a class action taken by the claims that XRP is an investment and therefore treated as such. The debate has for some time circles, and discussed, it should be classified whether Ethereum also as the value of paper.

The crypto market is still in its infancy, so that at the present time, neither estimated nor reliable pronos condition can be what are digital currencies prevail in the long term and even, perhaps, as the world’s reserve currency.

Leave a Comment