Bitcoin Influencer Says Expectations In Ripple To Become A Payment Processor Will Cause Loss Of Investment


According to Tone Vays, a popular cryptocurrency investor, the chances of Ripple becoming a globally accepted payment processor is 0.0001%. It all started on Twitter when a another member of the cryptocurrency community, Jason Silbert, uploaded a tweet about his podcast with David Silver and Tone Vays. The podcast was done during the 10th anniversary of BTC’s Genesis Block on the 3rd of January 2019.


Ripple As A Payment Option


Right after Jason uploaded the post, another member of the cryptocurrency community, Matt Hamilton said:

“Jason, I just finished listening to the podcast and I totally agree that people are going to stop caring about which cryptocurrency is used to make transfers in the next ten years. However, the irony is that there is also a good chance that the payment you made your son will evolve to Ripple in the next ten years.”


Bitcoin (BTC) Price Today – BTC / USD
#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$7,365.80
1.85%


Another cryptocurrency community member agreed with Hamilton saying:

“There is a very strong chance indeed and you would not know it’s XRP being used in the first place.”
Since Ripple has been making waves in the payment processing sector for sometime now, the argument of both cryptocurrency community members seemed valid. Services like xRapid, xCurrent and xVia are taking the industry by storm. However, not everyone believes that Ripple has what it takes to reach mass adoption. At this point, Tone Vays said:

“No it will not. The chances of it being something like LTC, ETH or XMR are zero or s small fraction above zero like 0.0001% chance. However, you’re free to lose all your money on this expectation.”
In reply a user with the handle crypto_holder quickly rebutted asking if the current problems with BTC will no longer be relevant in the next 10 years. In his words:

“Okay. I am curious regarding what you think the percentage possibility of BTC will be. Do you think BTC will be more costly, albeit slower, anywhere near scalable? Or is there something I am missing? I’ll appreciate being enlightened.”
In reply, Vays said:

“I believe BTC has a 99.999% chance against other cryptocurrencies. In the next 25 years, BTC may stand a 51% chance against fiat.”
On the 4th of January 2019, Vays retweeted the tweet by crypto_holder adding more rebuttal to the quote. After this, many other community members stepped in and started defending Bitcoin. One user named Rob commented:

“Do you understand that XRP has a total circulating supply of 100 billion coins. This is about 4800x the number of BTCs that will ever exist. From this number 60% is owned by Ripple making XRP a centralized, trash, one use coin. With time, lightning network is going to fix Bitcoins scalability issues.”
A user with the handle CryptosBatman also added:
“Have you ever heard of the Bitcoin Lightning Network? It’s not slow and definitely not expensive. Try it!”

XRP (XRP) Price Analysis


Right now, XRP is trading at $0.355428. This shows that it is down by 0.92% against the USD and down by 0.35% against Bitcoin. The 24 hour trading volume is $429,207,365 and the market capitalization is $14,499,372,957.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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