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 another member of the cryptocurrency community, Jason Silbert, uploaded a tweet about his podcast with David Silver and Tone Vays. The podcast was made during the tenth anniversary of the BTC Genesis Block on January 3, 2019.
Ripple as a payment option
Immediately after Jason uploaded the post, another member of the cryptocurrency community, Matt Hamilton said:
Another member of the cryptocurrency community agreed with Hamilton saying:
"There really is a very strong possibility and one could not know that it is XRP in the first place."
Since Ripple made waves in the payment processing business for a few hours, the topic of members of the cryptocurrency community seemed valid. Services such as xRapid, xCurrent and xVia are conquering the industry. However, not everyone believes that Ripple has what it takes to achieve mass adoption. At this point, Tone Vays declared:
"No, it will not, the odds of something like LTC, ETH or XMR are zero or a small fraction above zero as a probability of 0.0001%, but you are free to lose all your money for this expectation . "
In response, a user with the handle crypto_holder quickly refuted by asking if current problems with BTC will no longer be relevant in the next 10 years. In his words:
I'm curious to know what you think will be the percentage of BTC possibilities Do you think BTC will be more expensive, even if slower, anywhere near scalability? Or is it something I miss? . "
In response, Vays said:
"I think BTC has a 99.999% chance against other cryptocurrencies, and BTC could have a 51% chance against FIAT over the next 25 years."
On January 4, 2019, Vays retweeted the tweet from crypto_holder adding more refutation to the quote. After this, many other members of the community entered and started defending Bitcoin. A user named Rob commented:
"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% belongs to Ripple, making XRP a centralized currency, trash, single use Over time, the Lightning network will solve Bitcoin's scalability problems. "
A user with the CryptosBatman handle also added:
"Have you ever heard of the Bitcoin Lightning network? It's not slow and certainly not expensive.
XRP Price Analysis (XRP)