Ripple and XRP have been a controversial topic for quite along. While few members of the crypto community criticized XRP as a centralized cryptocurrency, Ripple’s official, on the other hand, elaborate XRP as the decentralized cryptocurrency runs independently on XRP ledger.
Did Ripple Create XRP or Discover it?
The concerning point here is that Ripple is a blockchain payment firm that offers payment products based on blockchain technology. Alongside these products, Ripple is also known as the parent company of XRP, the third-largest cryptocurrency by market capitalization.
Undeniably, when XRP bag holders backlashed Ripple for selling a lot of XRP – which they claim – has drastically reduced the price of the token, Ripple’s CEO and other key officials refute the claim.
In fact, they elaborated that Ripple and XRP are two different entities, while Ripple is a company, XRP is a decentralized cryptocurrency. Moreover, they also stated that the XRP cryptocurrency still exists even if Ripple, the company disappears.
With all these controversial comments since so far, Nic Carter who is the co-founder of Coinmetrics and a partner at Castle Island Ventures shared a series of thread, condemning Ripple. He said;
For the record, these psychopaths are still literally and without a shred of irony claiming that they “discovered” XRP as opposed to having created it.
He also mentioned the comment of Ripple CEO Brad Garlinghouse who in an interview with Fortune Magazine compared XRP with Oil (though he compared it in the context of considering XRP as security would be wrong). It’s worth noting that during an interview when Brad doubted Facebook’s approach of launching Libra until 2022, he also shared his views on XRP ledger. He said;
One really important distinction is, the XRP ledger existed before Ripple the company. Certainly, we are an interested party in the success of the XRP Ledger, for sure- we own a lot of XRP. But its’ a little bit like saying, Exxon owns a lot of oil. That doesn’t make oil security.
XRP Community Defending Ripple
As Nic Carter’s tweets appear to be contrasting Ripple and the XRP community, it obviously captured the attention of the XRP army. However, as a response to a community’s comment that asked his view representing Ripple like Bitconnect, a Ponzi scheme which became popular in 2017, Nic Carter strongly urged that “it’s not “like” that; it is that.” He further said;
Ripple is no more or less useful than BCC. They just have better marketing.
On the other side of the matter, Tiffany Hayden who is the prominent XRP community member defended XRP, saying;
First time seeing courage? Do you know at that time it was undecided if miners were going to be considered MTs? 3 men BRAVELY created $XRP entirely on their own to FULLY accept the responsibility and the consequences, INCLUDING PRISON, if regulations had worked out against them.
— 𝚃𝚒𝚏𝚏𝚊𝚗𝚢 𝙷𝚊𝚢𝚍𝚎𝚗 (@haydentiff) October 9, 2019
Moreover, she also quoted a tweet that Ripple CTO David Schwartz wrote about the existence of Bitcoin Cash. As David said he had Bitcoin cash balances that were transferred to him in 2015 however, in contrast, the token came into existence in 2017. In her continuous tweet, she explains her stance of how XRP has emerged;
How much fundraising do you think you can raise from a VC with that legal nightmare lurking? They did “the bad horrible thing of creating crypto” and then created a legal document to prove it was ALL THEIR FAULT.
And only after that, did they gift XRP to the company.— Tiffany Hayden🧢 (@haydentiff) October 9, 2019
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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