Bitcoin Maxi Blasts XRP For Centralization: Here’s the Catch

Max Keiser isn’t making friends with the $XRP Army anytime soon.

Max Kaiser holding an XRP coin looking as crazy as usual.
Created by Gabor Kovacs from DailyCoin
  • El Salvador’s Chief Bitcoin Advisor lambasts $XRP with centralization “proof.”
  • XRP community strikes back on Twitter, drawing parallels between XRP and BTC.
  • El Salvador’s $1B Volcano startup to make El Salvador a leader in BTC mining.

Max Keiser, one of the world’s most famous Bitcoin Maximalists, took to X to share his stance on $XRP. El Salvador’s Chief Bitcoin Office Advisor claims that $XRP is centralized, as opposed to Bitcoin being the “only real money.”

Keiser insists that a United States Patent from 1991 is sufficient proof that $XRP is centralized. In a scanned image shared by Keiser, the document portrays interconnected personal computers (PCs) working intermittently together. The document states the inventor to be David “JoelKatz” Schwartz, the current Ripple Chief Technology Officer (CTO).

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But the patent document is 32 years old, dating back to 1991.

XRP Fans Enraged Over Keiser’s Remarks

Naturally, multiple crypto enthusiasts on Twitter have challenged Keiser’s unconventional logic. These include lawyers and former software developers for Ripple. To illustrate, Matt Hamilton reminded Keiser that the altcoin $XRP is just 12 years old.

On top of that, back in 1991, there was no blockchain. “At the very least, the date should be a clue to you,” utters Matt Hamilton, hoping for the best. As if that wasn’t enough, $XRP trader MetaMan insisted that there are a lot of parallels to be drawn between $XRP and $BTC.

Mr. MetaMan argues that Satoshi Nakamoto also allocated a large portion of the Bitcoin cake to himself and is currently reported to hold 1.1M Bitcoins, equivalent to $28,732,000,000. Ripple’s executives also allocated $XRP coins to themselves, but this is not an uncommon practice in crypto.

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Max Keiser claims that only Bitcoin (BTC) is to be considered “real money” when all of the alternative crypto markets are “s***coins.” However, Keiser fails to understand that this argument doesn’t make sense: altcoins like Litecoin (LTC) and Dogecoin (DOGE) are direct forks made from the same code, just like BTC.

On the Flipside

  • The celebrity Bitcoin Maximalist Max Keiser has been caught lying on social media multiple times and is known to delete messages.
  • To illustrate, several mass media outlets have made Twitter records of Max Keiser downplaying war crimes and denying the Russian invasion of Ukraine.

Why This Matters

The rivalry between Bitcoin Maximalists and altcoin holders dates back to the earliest days of the blockchain.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.