Bitcoin Maximalist Sparks Controversy Over XRP Centralization Claims
Bitcoin supporter Max Keiser sparked a controversy after claiming that XRP is centralized, based on a patent filed over three decades ago by Ripple co-creator David Schwartz. The patent, however, does not mention Ripple and was filed when Schwartz was a young adult, leading to intense reactions from the XRP community.
Keiser’s accusations were met with strong pushback from the XRP community, who defended the cryptocurrency and called out the assumptions made by Keiser. Some members pointed out that the patent was for a computation task distribution and not a decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... More ledger consensus. Others drew parallels between XRP and Bitcoin, noting that both had founders who set aside large portions of tokens for themselves.
Regardless of the backlash, Keiser remained steadfast in his stance, even claiming to have invented virtual currenciesVirtual currency is basically any digital money that people can use for transactions, usually just within a specific app or community online. Some common examples... More. His remarks have led to an ongoing debate about the centralization of cryptocurrencies, particularly XRP.
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