Brad Garlinghouse: Bitcoin is actually not the best payment tool

Ripple managing company CEO does not consider Bitcoin a good means of payment, as witnessed by the reports in the financial media. As he said, one can surely buy a cup of coffee for bitcoins - but the transaction will have to be approved 20 minutes, and the price of this cup will double due to the operational costs.

While the price of Bitcoin operations has recently fallen, this still does not seem to be enough for everybody. Brad Garlinghouse is, of course, involved in the market and his opinion cannot be called unbiased, but this is not the first person voicing concerns over the transactional difficulties of Bitcoin.

The aforementioned businessman has also recently mentioned an issue that Bitnewstoday observers raised several times: cryptocurrencies are too dependent of Bitcoin, including even those projects who claim total difference of their own currency and Satoshi Nakamoto’s creation. This is going to change soon due to the growing maturity and rationality of the market, Mr. Garlinghouse insists.

Bitcoin’s opportunities as a payment tool are undermined by its own price volatility, if the statements made by the representatives of Valve Corporation and Microsoft were correct.

Image: Tony Avelar / Bloomberg / Getty Images