“Bitcoin controlled by Chinese” claims Ripple CEO

Ripple CEO, Brad Garlinhouse, has exposed his view regarding his main cryptocurrency competitor, Bitcoin, at the Stifel Cross Sector Insight Conference in Boston, where he took part as a guest of honor.

“Bitcoin has no hope of being a world currency”

In his interview he tackled Ripple as the main topic, however he also criticized Bitcoin Core as being controlled by the Chinese miners and having no hope of becoming a world currency.

He commented that the idea of Bitcoin becoming a world currency is absurd. However, many don’t share his view, including Steve Wozniak, who predicted that Bitcoin would become a primary currency by the end of next decade.

The Chinese control over Bitcoin

Garlinghouse explained that Bitcoin is inefficient, as long as the current transactions take over 45 minutes to settle. He highlighted that the Chinese are in power over Bitcoin with four miners controlling over 50% of the pools. He firmly stands assured that no country would accept a Chinese-controlled currency as the main one.

About the Ripple CEO

Brad Garlinghouse has been CEO of Ripple since 2015.  Prior to his business with Ripple, he worked in the investment area with such companies as SBC Communications, Yahoo! And AOL. Since the beginning of this year he has been trying to separate to concept of Ripple and XRP – the company from the virtual currency and denote them as different entities.

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