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Ripple CEO says the XRP ecosystem’s progress excites him; comments on Bitcoin [BTC] price

Anirudh VK



Ripple CEO says the XRP ecosystem's progress excites him; comments on Bitcoin [BTC] price
Source: Unsplash

Brad Garlinghouse, the CEO of Ripple, spoke about the price of XRP in a recent interview. He also spoke about the speculative state of the market, and the growth of the ecosystem.

On the price of XRP and digital assets in general, he stated that predicting the price of them is a “fool’s errand”. He went on to say that he does not understand the movements of Bitcoin [BTC]’s price. However, he did state:

“What I will say is that the long-term value of any digital asset is going to be derived from utility it creates.”

Garlinghouse stated that there are certain digital assets who’s trading is 100% speculative, and that there was no utility. He also said that the health of the ecosystem surrounding a coin was propotional to its demonstration of solving a real problem.

On speculative trading, Garlinghouse remarked:

“Those who are trading crypto purely based on speculation where there’s no problem being solved, that’s a dangerous game. I think I’ve publicly said that out of the 2000+ cryptocurrencies out there, I think that well over 90% of them are going away.”`

On the XRP ecosystem, the CEO stated:

“As we look at what we are doing in the XRP ecosystem and we look at what other companies are doing in the XRP ecosystem, we get excited about the progress we’re making.”

The CEO said that a lot of the excitement derived from XR being efficient for payments in terms of speed and cost. He even made a statement that XRP was 1000 times faster and cheaper than Bitcoin, the current market leader.

He went on to say that while the price performance of XRP does not matter to him, while the technical performance does. He also stated:

“I think about how to build products and solutions on top of this decentralized open source network in order to solve a customer problem. The more liquidity we create the better it is for the ecosystem. The short-term gyrations, that’s not something I think about.”

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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

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XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind




XRP TipBot goes online after a tiny downtime
Source: Unsplash

XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”

A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.

Wind tweeted,

XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.

After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.

The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.

This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.

XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.

SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.

Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.

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