Ripple CTO David Schwartz has addressed claims made by El Salvador Advisor Max Keiser that the XRP token is a “centralized” cryptocurrency. Schwartz took to X (previously Twitter) to clear the air, stating that the Bitcoin Adviser’s opinion of XRP was too ignorant to warrant a correct reciprocation.Â
Ripple CTO Criticizes Centralization Claims
On September 24, Co-founder of Volcano Energy and Bitcoin Advisor to El Salvador’s President, Max Keiser made a controversial assertion in regards to the XRP token. In an X (previously Twitter) post, Keiser said that Ripple’s native token, XRP was “centralized”, which was negatively acquired by the group and triggered a response from the Ripple CTO.
Responding to Keiser’s controversial declare in regards to the XRP, Schwartz expressed his indignation and said that he discovered the assertion laughable.
“This is such an incredibly stupid argument I have no idea how I could possibly respond to it other than to laugh,” Schwartz stated.
In addition to Schwartz, the Product Head of Visa Installment and former worker of Ripple, Josh Gierscha, additionally jumped on the bandwagon to debunk Keiser’s claims.
Initially, Giersch had believed that Keiser’s centralization claims had been comprised of an X account impersonating the Bitcoin Advisor or from a fan account.
However, Schwartz revealed that the remark was made by the actual Max Keiser. He responded by quoting the unique publish from Keiser’s actual account.
Of course the actual Max Keiser would by no means say something this dumb.https://t.co/dd9JQUPvIYhttps://t.co/mOkN3v0vFU
— David “JoelKatz” Schwartz (@JoelKatz) September 27, 2023
Giersch then topped off the dialog, saying, “Keiser’s an industrial-grade crank, I shouldn’t have expected any better from him”
Keiser’s view on the XRP token was primarily based on the cryptocurrency’s US patent created by Schwartz in 1992 which illustrated a cooperative system involving a number of interconnected computer systems.Â
This isn’t the primary time that Keiser has stated one thing to attract the ire of the XRP group. The Bitcoin advisor has had a poor view of the token for a while now and sometimes criticizes XRP whereas idolizing Bitcoin. Back in May, the Bitcoin advisor had come below hearth following a press release labeling the XRP token a “shitcoin.”
XRP Twitter Community Reacts To Centralization Argument
The XRP group additionally poured out to criticize Keiser’s claims in regards to the token. One group member attributed the statements to Bitcoin maxis being frightened of the token’s talents, saying; “Bitcoin maxis are terrified of XRP.”
Another X consumer jumped in so as to add their very own two cents saying that Keiser was being deliberately deceptive to his over 500,000 followers. Pointing to the patent which Keiser used as the premise for his assertion, the consumer stated “There’s no way he believes you filed a patent for the XRPL in 1988. Not a chance. Yet this is what he asserts. Seems he’s just an “ends justify the means” kind of man.”
Keiser’s comment on XRP’s decentralization contradicts the inherent nature of the token which is seen in its worth as a digital cost foreign money and an open-source ledger blockchain.
Token worth dragged under $0.5 | Source: XRPUSD on Tradingview.com
Featured picture from VOI, chart from Tradingview.com
