Ripple CTO David Schwartz has addressed claims made by El Salvador advisor Max Keizer that the XRP token is a “centralized” cryptocurrency. Schwartz took to X (formerly Twitter) to set the record straight, stating that the bitcoin advisor’s opinion on
Ripple CTO slams centralization claims
On September 24, Volcano Energy co-founder and bitcoin advisor to the President of El Salvador, Max Keizer, made a controversial statement regarding the XRP token. In an X (formerly Twitter) mailKeizer claimed that Ripple’s native token, XRP, was “centralized,” which was received negatively by the community and prompted a response from Ripple’s CTO.
In response to Keiser’s controversial claim about XRP, Schwartz expressed outrage and stated that he found the statement ridiculous.
“This is such an incredibly stupid argument that I have no idea how I could respond other than to laugh,” Schwartz said.
In addition to Schwartz, Visa Installment head of product and former Ripple employee Josh Gierscha also jumped on the bandwagon to debunk Keizer’s claims.
Initially, Giersch had believed that Keiser’s centralization claims were made from an X account posing as bitcoin Advisor or from a fan account.
However, Schwartz revealed that the comment was made by the real Max Keiser. He responded by citing the original post from Keiser’s real account.
Of course, the real Max Keizer would never say something so stupid.https://t.co/dd9JQUPvIYhttps://t.co/mOkN3v0vFU
—David “JoelKatz” Schwartz (@JoelKatz) September 27, 2023
Giersch then rounded off the conversation by saying, “Keiser is an industrial-grade maniac, I shouldn’t have expected anything better from him.”
Keizer’s opinion on the XRP token was based on the US patent for the cryptocurrency created by Schwartz in 1992, which illustrated a cooperative system involving multiple interconnected computers.
This is not the first time Keizer has said something that has drawn the ire of the XRP community. The bitcoin advisor has had a dim view of the token for some time now and occasionally criticizes XRP while bitcoin-relative-strength-is-good-as-gold/” rel=”nofollow”>idolize bitcoin. In May, the bitcoin advisor came under fire following a statement labeling the XRP token as “shit coin.”
XRP Twitter Community Reacts to Centralization Argument
The XRP community also criticized Keizer’s claims about the token. A member of the community attributed statements to bitcoin maxis are scared by the capabilities of the token, saying; “bitcoin maxis are terrified of XRP.”
Another X user chimed in to add his own two cents. saying that Keizer was intentionally misleading his more than 500,000 followers. Pointing to the patent Keizer used as the basis for his statement, the user said: “There is no way I can believe that you filed a patent for XRPL in 1988. It’s not even possible. However, this is what he claims. It seems like he’s just an “ends justify the means” type of person.
Keiser’s comment on The decentralization of XRP contradicts the inherent nature of the token, which is seen in its value as a digital payment currency and an open source ledger blockchain.
Token price dragged below $0.5 | Source: XRPUSD on Tradingview.com
Featured image from VOI, chart from Tradingview.com
