Home Ethereum Ripple CTO hits back at Vitalik Buterin for his XRP dig

Ripple CTO hits back at Vitalik Buterin for his XRP dig

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Ripple CTO hits back at Vitalik Buterin for his XRP dig

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  • Ripple CTO responds to Vitalik

Ripple CTO responds to Vitalik

Ripple CTO David Schwartz Didn’t Take Ethereum Co-Founder At Vitalik Buterin to dig XRP very kindly. In a discussion that started around the recent $30,000 limit imposed by Ontario crypto exchange on purchases of altcoins except Ether (ETH), Litecoin (SLD) and Bitcoin Cash (BCH).

Buterin, in a quoted response to a tweet, praised the Ethereum community’s pushback against regulations that favor ETH over other legitimate cryptocurrencies. David Hoffman, the founder of decentralized media and education platform Bankless.eth responded to Buterin and said he wouldn’t have mind if they restricted XRP.

Buterin joined in the bashing of XRP claiming that they lost their right to protection when they tried to “throw us under the bus while they were controlled by China.” Buterin’s response created a storm among XRP followers on Twitter, and the debate was later joined by Ripple CTO David Schwartz himself.

Buterin was referring to defending Ripple in their ongoing legal battle against the US Securities and Exchange Commission (SEC), where they claimed that XRP should not be considered a security since Ethereum and Bitcoin are similar in nature. and even called the two major cryptocurrencies Chinese-controlled. Ripple is fighting an SEC lawsuit over the unlicensed sale and issuance of XRP tokens.

Schwartz reiterated Ripple’s earlier claims that ETH and BTC were the security and compared miners in the ecosystem to eBay shareholders. He said:

“I think it is perfectly fair to equate miners in PoW systems with corporate shareholders. Just as eBay shareholders gain from residual friction between buyers and sellers that eBay does not remove, so do ETH and BTC miners.

Schwartz concluded his tweet with a question to Buterin, asking whether the security debate should be settled by the government or by the market.

Ethereum’s security status has become a hot topic during ongoing legal proceedings, where Ripple has claimed that the SEC has a clear bias against them and favors Ethereum. In a 2021 interview, Ripple CEO Brad Garlinghouse claimed that the SEC helped Ethereum overtake XRP as the #2 crypto.

The security status of cryptocurrencies has long been debated due to a lack of regulatory guidelines. The majority of regulators around the world view Bitcoin as an asset, while there is still an ongoing debate over the status of Ethereum due to pre-mining and initial coin offerings (ICOs).

* This article was originally published in Cointelegraph.

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