Category Archives: Chris Larsen

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Coinbase CEO: Virtual Reality and Crypto Next Big Combo

Coinbase CEO: Virtual Reality and Crypto Next Big Combo

Coinbase CEO Brian Armstrong has said that cryptocurrency has the potential to turn Virtual Reality into a full-time job.

Armstrong suggests that virtual spaces could create their own currencies or even make use of existing ones such as Bitcoin or Ethereum by integrating the means for users to spend crypto in the same way as they are currently using fiat.

Developers would see more time spent on such games, according to the Coinbase boss, taking it much further into the realms of Sci-fi by suggesting that players could use the virtual world to support themselves in the real world, cashing in their accrued gaming funds for “real” use, such as paying rent. He speculates:

“Perhaps we’ll see virtual bank buildings with pillars, virtual bank vaults that spin when you open them, and virtual tellers with glasses.” The exchange magnate, clearly a follower of the gaming and VR world added, “Ready Player One had a great visual of coins being collected in the game, and spilling out of characters when they were killed (leaving a big pile of loot on the ground).”

Clearly, Armstrong has seen the potential of turning VR ownership into the real thing via some of his own exchange-listed cryptocurrencies. But in reality, there’s still a long way to go – crossing the bridge from virtual into reality.

Armstrong appears to be in touch with the man on the street, if not through gaming and VR, then certainly in terms of what reality actually means for many of the world’s “have-nots” these days. This was shown by his recent personal $1 million giveaway through his charity project called GiveCrypto.

The project is a global enterprise which will give out cryptocurrency donations to worthy recipients, who will then be able to make personal choices in whether to keep their donations as cryptocurrency or exchange them for fiat. GiveCrypto wants to raise USD 10 million by the end of 2018 and grow to a fund of USD 1 billion over two years. Donations will hopefully come from wealthy donors who have amassed wealth through cryptocurrency, passing on their good fortunes to those in need of financial help. Suggested cryptocurrencies for donations are Bitcoin, Ripple, and Zcash.

Ripple’s co-founder Chris Larsen has already put in an undisclosed donation into the Armstrong charity hat. This may not be all that Ripple will be putting into Coinbase’s coffers if recent news that Coinbase plans to list XRP on its exchange becomes reality…. that’s not a virtual one by the way!

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Ripple’s Chris Larsen First Crypto Personality on Forbes 400 Rich List

Chris Larsen, co-founder of Ripple, is the first person from the cryptocurrency space to be on the Forbes 400 list. He is at the very bottom of the list, ranked #383 in a tie with 18 other billionaires.

The Forbes 400 is a list of the 400 richest people in America, a list so exclusive that a third of billionaires in the United States were not wealthy enough to make the list. The Ripple token, XRP, is the third-ranked cryptocurrency by market capitalization at this time with a market cap of USD 20 billion.

Larsen owns XRP 5.19 billion, and his place on the list has been fluctuating wildly due to changes in XRP’s price. As of this writing on 8 October 2018, five days since the Forbes 400 was compiled, XRP has gone up to USD 0.50, which would mean Larsen has USD 2.6 billion and is actually ranked #316. Earlier in 2018, when XRP hit its all-time record of USD 3.75, Larsen had USD 19.46 billion, which would have put him at #25 on the Forbes 400, practically tied with SpaceX and Tesla Founder Elon Musk.

That being said, Larsen couldn’t cash out all of his XRP at once even if he wanted to, which makes his position on the list somewhat controversial. As seen with Ripple’s other co-founder Jed McCaleb, co-founders have restrictions in selling off their holdings since sudden and large liquidations would damage the Ripple ecosystem.

Notably absent from the list is Satoshi Nakamoto, since his identity is unknown, and there is no way to know if he is even in the United States. Some estimates say Satoshi mined BTC 1 million, which are still clearly sitting in wallets believed to be his, which would give him a net worth of USD 6.7 billion as of 8 October, which would put him at #78 on the Forbes 400. During the rally to USD 20,000, Satoshi’s Bitcoin was worth as much as USD 20 billion briefly, which would put him at #23, richer than Elon Musk.

At the very top of the Forbes 400 is Jeff Bezos, the founder of Amazon, who has an all-time record USD 160 billion. This is more than the entire Bitcoin market cap, which is USD 115 billion. Jeff Bezos broke Bill Gates’ 24-year streak at the top of the Forbes 400.

 

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