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TMZ

Jeremy Meeks Pays Ex-Wife 6 Figures, Gets Primary Custody of Their Son

June 16, 2018 |

Jeremy Meeks is gonna have his own modern family after striking a deal with his ex-wife that gives him primary custody of their 9-year-old son, and gives her a hefty sum of money … TMZ has learned.  Sources tell us the “hot felon” –…

TMZ.com

Ripple CEO: Bitcoin Controlled by Chinese, Absurd to Think it Could be Primary World Currency

June 13, 2018 |

Brad Garlinghouse, Ripple CEO, answered candidly during an interview about crypto’s prospects for the future. Among other criticisms, he stressed blockchain technology is mostly hype, and that bitcoin core (BTC) is controlled by Chinese miners and has no hope of being a world currency.

Also read: Crypto and Virtual Reality Meet in Ken Liu’s Science Fiction

Ripple CEO Bashes Bitcoin

Attendees of the 2018 Stifel Cross Sector Insight Conference in Boston yesterday were probably expecting to learn more about Ripple, the world’s third most popular cryptocurrency by market capitalization. After all, none other than company CEO Brad Garlinghouse was guest of honor for an interview with Stifel Tech analyst Lee Simpson. And while Ripple certainly was the hot topic, Mr. Garlinghouse also took the opportunity to bash its main decentralized competitor, bitcoin core (BTC).

“A number of prominent people,” Mr. Garlinghouse explained, “even Steve Wozniak, has said that he sees a world where Bitcoin is the primary currency. I think that’s absurd. I don’t think that any major economy will allow that to happen. By the way, it doesn’t make sense.” Indeed Woz has said as much, as have Twitter and Square CEO Jack Dorsey, who predicted it would happen within the decade.

Ripple CEO: Bitcoin Controlled by Chinese, Absurd to Think it Could be Primary World Currency

Brad Garlinghouse, 47, has held his present position since 2015. His professional background is almost all technology related. Stints with Yahoo!, AOL, working in the investment arena with the likes of Silver Lake Partners, @Ventures, @Home Network, SBC Communications, all round out his experience prior to Ripple.

His views about BTC and its eventual influence have found him very quotable of late, especially this month. He’s spent a great deal of time attempting to separate the coin aspect of Ripple (XRP) from the company itself, and this has lead to some interesting juxtapositioning in his method of argument.

BTC Blockchain Not Disruptive, Chinese in Control

During the Boston interview, he even took on the sacred cow of the corporate world, BTC’s distributed ledger technology. “There’s a lot of blockchain craziness, but there are three indicators of market winners. Blockchain will not disrupt banks […] it will play an important role in the way our system works. It’s a short-sighted view […]. Bitcoin is not the panacea we thought it would be.”

Mr. Garlinghouse then compared XRP to BTC. “This is how liquidity will be managed in the future. Bitcoin today takes 45 minutes to settle a transaction. Banks will use what is efficient and cheaper. And if you deliver a better product at a better price […] they will use it.” Ripple CEO: Bitcoin Controlled by Chinese, Absurd to Think it Could be Primary World Currency

An under-reported story, Ripple’s CEO insisted, is how BTC is “owned by China.” He noted, “The smartest thing you’ve done is not have ‘bit’ or ‘coin’ in your name. I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China. There are four miners in China that control over 50% of Bitcoin. How do we know that China won’t intervene? How many countries want to use a Chinese-controlled currency? It’s just not going to happen.”

Lastly, he assured, “I own bitcoin. Many people consider it as digital gold. I acknowledge, I’m long [on] crypto. I’d advise folks to only invest in crypto only what you’re willing to lose. It’s early to tell how it is going to play out. I think it’s a pretty good investing strategy. I don’t think about the digital asset market. I think about the customer experience. There are millions unbanked or underbanked. When I think about the transformation, it is fundamentally changing the way millions participate in banking. We can fundamentally change the way this works, to bring an entire population up a step in the system.”

Do you think Ripple’s CEO is correct? Let us know in the comments. 


Images via the Pixabay.


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The post Ripple CEO: Bitcoin Controlled by Chinese, Absurd to Think it Could be Primary World Currency appeared first on Bitcoin News.

Bitcoin News

Sheriff Fires Deputy Who Defeated Him in Primary

June 8, 2018 |

Defeating the sheriff in an election is apparently a firing offense in the Bon Homme County Sheriff’s Office. Mark Maggs, the South Dakota county’s 31-year-old deputy sheriff, says he was fired on Tuesday after defeating his boss in the Republican primary for sheriff, the Argus Leader reports. Maggs and current…
Newser

Oregon state Rep. Buehler wins GOP primary for governor

May 16, 2018 |

Oregon state Rep. Knute Buehler has won the GOP gubernatorial primary, besting a crowded field vying to compete against incumbent Democrat Kate Brown in November.
FOX News

TMZ

WWE’s Kane Wins Mayoral Primary Election In Tennessee

May 2, 2018 |

Kane is 1 step closer to running Knox County, Tennessee … ’cause the WWE legend won the primary Mayoral election today … and is now expected to be elected mayor this summer. Glenn Jacobs aka Kane first announced he was running for the gig last…

TMZ.com

Illinois GOP Primary Winner: GOP ‘Messed Up Big Time’

March 21, 2018 |

“The Republican Party screwed up big time.” Such is the pronouncement of Arthur Jones, who on Tuesday won a GOP primary in Illinois, becoming the party’s candidate for the Third Congressional District, which encompasses part of Chicago. Except, per the New York Times , the Holocaust denier won’t get an ounce…
Newser

Iran’s Primary Schools Can No Longer Teach English

January 7, 2018 |

Iran’s primary schools are no longer permitted to teach English over fears that such early lessons could open the door to a Western “cultural invasion,” reports Reuters . An education official announced on state-run TV Saturday that the rule applies to both public and private institutions. “Teaching English in government and…
Newser

California Shakes Up 2020 Primary Contests

September 28, 2017 |

Super Tuesday, the jam-packed day of presidential primary voting every four years, may get supercharged in 2020 with California joining the pack, bringing along its prize of the most delegates. Gov. Jerry Brown gave his stamp of approval Wednesday to a measure jumping California’s primary up to the beginning of…
Newser

Alabama Primary Result Shakes Up GOP

September 27, 2017 |

President Trump has deleted some of his tweets about Alabama’s Republican US Senate primary—but it’s not an election the GOP will be able to move on from quickly. Former state Supreme Court Chief Justice Roy Moore, a conservative Christian who was supported by anti-establishment forces including Steve Bannon, defeated…
Newser

After Alabama Primary Loss, Trump Deletes Tweets

September 27, 2017 |

President Trump was a vocal supporter of Alabama’s Sen. Luther Strange during the Republican’s primary campaign—which is something he apparently wanted to forget about as soon as Strange was defeated. After Strange lost the race to former state Supreme Court Justice Roy Moore Tuesday, Trump started deleting his pro-Strange…
Newser