Is XRP even a cryptocurrency? Ripple CTO David Schwartz responds to Roger Ver’s statement
After, Roger Ver’s debatable statement of whether XRP is even a cryptocurrency, Ripple CTO David Schwartz responded. The controversial statement was made by Ver in an interview with Omar, a well-known YouTuber. The CEO of Bitcoin.com and one of the architects of the XRP Ledger, Roger Ver even faced backlash after the statement.
In the interview he said about his investment in Ripple. He revealed that he was ‘technically the second person to be involved in Ripple,’ He shared that Jed McCaleb, who is also the Founder of Stellar Lumens [XLM] contacted him to convince to invest in Ripple in 2012.Roger said, “Bitcoin was two dollars each and I was doing everything I could to get the traction in the world but I didn’t have that much traction and the entire market cap was maybe ten million bucks… So I said sure, no problem.”
Roger further pointed that ‘today it’s even arguable if Ripple is a cryptocurrency’. Ripple can freeze customers bank account whenever they want. Ripple was introduced to make another bitcoin without any need of mining.
Roger in his interview said, “…let’s say cryptocurrency if you want to use that, like Ripple winds up getting the mainstream adoption that everybody ends up using.”
He added, “ It’s still better than the banking system that we have today where they charge 35 bucks to send a wire and it takes a couple of days in this and that but it’s not that much better because they can still freeze your account just like they can now.”
According to AMBCrypto, David Schwartz commented on their article and responded to Roger Ver’s debatable statement. Schwartz said, “It is genuinely baffling to me how @rogerkver went from a person who was driven entirely by devotion to principles of individual liberty to someone who will lie and distort the truth to advance a system he is invested in.″
He added: “I don’t doubt that he believes that system advances his principles and that those principles are still important to him. His tactics, however, are entirely unprincipled. He’s too smart to actually believe some of those claims.”
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