Ripple CEO No BTC Bear but Insists XRP Beats Bitcoin for Payments

October 13, 2019 10:31 UTC

In a recent interview on Anthony Pompliano’s Off The Chain podcast, Brad Garlinghouse, the CEO of Ripple, provided unprepared answers to questions sourced from crypto Twitter regarding the operations of Ripple and XRP, Ripple’s XRP sales, and the cryptocurrency ecosystem broadly.

Garlinghouse recounts discovering Bitcoin and cryptocurrency while attending the Dialog conference – a two-day “thought retreat“ organized by Peter Thiel and Auren Hoffman, in 2012.

Despite subsequently investing in BTC, an “unconvinced” Garlinghouse stated:

“[L]ong term opportunity of Bitcoin in a world where it is fighting against governments, and fighting against banks, and fighting against the institution, the man.”

Galinghouse adds that he wondered if through “taking a slightly different approach,” could one “reach broader adoption” and “impact more people more quickly” using distributed ledger technology.

Long Bitcoiner Garlinghouse Claims XRP is Superior for Payments

Seeking to articulate the operations of Ripple, Garlinghouse stated:

“I explain to people that when my Mom asks me what I do, I say, ‘Mom, we sell software to banks.”

Garlinghouse also asserts that XRP’s developers comprised “early bitcoin engineers” who sought to address the scaling challenges faced by proof-of-work models and “build a better Bitcoin.”

Despite being “long on bitcoin,” Garlinghouse asserts “bitcoin is not going to solve a payments problem,” as a result of the “nature of proof-of-work from a scalability perspective [being] significantly limiting.”

By contrast, Garlinghouse estimates:

“XRP ledger is roughly 1,000 times faster per transaction and 1,000 times cheaper per transactions…

the only example of crypto and blockchain being used at scale, period.”

This article was edited by Samburaj Das.

Samuel Haig is a journalist who has been completely obsessed with Bitcoin and cryptocurrency since 2012. Samuel lives in Tasmania, Australia, where he attended the University of Tasmania and majored in political science and journalism, media and communications. Samuel has written about the dialectics of decentralization and is also a kangaroo riding enthusiast.