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.
Ripple CTO Criticizes Centralization Claims
On September 24, Co-founder of Volcano Power 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 acknowledged that Ripple’s native token, XRP was “centralized”, which was negatively obtained by the neighborhood and triggered a response from the Ripple CTO.
Responding to Keiser’s controversial declare in regards to the XRP, Schwartz expressed his indignation and acknowledged that he discovered the assertion laughable.
“That is such an extremely silly argument I don’t know how I may probably reply to it apart from to snicker,” Schwartz stated.
Along with 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 made out of an X account impersonating the Bitcoin Advisor or from a fan account.
Nonetheless, Schwartz revealed that the remark was made by the true Max Keiser. He responded by quoting the unique submit from Keiser’s actual account.
— David “JoelKatz” Schwartz (@JoelKatz) September 27, 2023
Giersch then topped off the dialog, saying, “Keiser’s an industrial-grade crank, I shouldn’t have anticipated any higher from him”
Keiser’s view on the XRP token was based mostly on the cryptocurrency’s US patent created by Schwartz in 1992 which illustrated a cooperative system involving a number of interconnected computer systems.
This isn’t the primary time that Keiser has stated one thing to attract the ire of the XRP neighborhood. The Bitcoin advisor has had a poor view of the token for a while now and sometimes criticizes XRP whereas idolizing Bitcoin. Again in Could, the Bitcoin advisor had come below fireplace following an announcement labeling the XRP token a “shitcoin.”
XRP Twitter Group Reacts To Centralization Argument
The XRP neighborhood additionally poured out to criticize Keiser’s claims in regards to the token. One neighborhood member attributed the statements to Bitcoin maxis being petrified of the token’s skills, saying; “Bitcoin maxis are fearful of XRP.”
One other 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 approach he believes you filed a patent for the XRPL in 1988. Not an opportunity. But that is what he asserts. Appears he’s simply an “ends justify the means” sort 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 fee forex and an open-source ledger blockchain.
Token worth dragged under $0.5 | Supply: XRPUSD on Tradingview.com
Featured picture from VOI, chart from Tradingview.com