David Schwartz and Vitalik Buterin Clash On Twitter• August 19, 2022 12:17 pm • Comments
There’s drama brewing between David Schwartz and Vitalik Buterin…
Members of the Ripple community have begun attacking Vitalik Buterin, the co-founder of Ethereum (ETH).
Buterin, while complimenting members of the Ethereum community, said that XRP has lost its claim to protection as a result of its attempt to “throw us under the bus as ‘China-controlled.’
Ripple’s chief technical officer, David Schwartz would respond ETH pushes the “government (to) penalize projects that disagree with (its) narrative,” is proof that members of the XRP community did not take this comment lightly.
Schwartz proceeded by arguing that Ethereum (ETH) and Bitcoin (BTC) were securities, claiming that miners might be compared to shareholders in eBay.
Here’s the tweet that started everything:
If they had restricted XRP I wouldn't have said anything
— DavidHoffman.eth 🦇🔊🏴 (@TrustlessState) August 17, 2022
Also, I do think it's perfectly fair to analogize miners in PoW systems to stockholders in companies. Just as eBay's stockholders earn from the residual friction between buyers and sellers that eBay does not remove, so do miners in ETH and BTC. 1/2
— 𝙳𝚊𝚟𝚒𝚍 𝚂𝚌𝚑𝚠𝚊𝚛𝚝𝚣 (@JoelKatz) August 18, 2022
Cointelegraph dropped these details:
David Schwartz compared crypto miners in the Ethereum and Bitcoin ecosystems to shareholders of eBay, which he believes makes BTC and ETH securities as well.
In a discussion that started around two Ontario crypto exchanges’ recent 30,000-Canadian-dollar limit on altcoins purchases — which excluded Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) — Ethereum co-founder Vitalik Buterin took a dig at XRP, which Ripple chief technology officer David Schwartz didn’t take very kindly.
Buterin, in a response to a tweet, lauded the Ethereum community’s pushback against regulations that privilege ETH over other cryptocurrencies. David Hoffman, founder of decentralized media and education platform Bankless, responded to Buterin and said he wouldn’t have minded if they had restricted XRP.
Buterin joined in on the XRP bashing, claiming, “They already lost their right to protection when they tried to throw us under the bus as ‘China-controlled.’” The response from Buterin created a storm among XRP followers on Twitter, and the debate was later joined by Schwartz himself.
Buterin was referring to Ripple’s defense in its ongoing court battle with the United States Securities and Exchange Commission, in which it claimed XRP shouldn’t be deemed as security since Ether and Bitcoin (BTC) are similar in nature, and it even called the top two cryptocurrencies Chinese-controlled. Ripple is currently fighting a lawsuit from the SEC over the alleged unlicensed sale and issuance of XRP tokens.
JUST IN: Vitalik Buterin expresses resentment towards #XRP, Ripple CTO responds
— DustyBC Crypto (@TheDustyBC) August 18, 2022
AMB Crypto had these details to add:
The Ripple-SEC long-standing battle may have neared no end but its effect on its native cryptocurrency may now be worse.
After the last ruling where it seemed like the payment processing company was progressing, Ripple [XRP] became the victim of an assault.
Ethereum founder Vitalik Buterin led the attack on the cryptocurrency in what seemed like “payback time.”
While applauding the Ethereum [ETH] community for resistance to regulation, Vitalik said the plight of Ripple was not to be supported and XRP should not be protected.
The comment did not go well with the crypto community, especially on the XRP end.
However, Vitalik noted that he did not suddenly withdraw support for the coin but has been avoiding the sixth-ranked cryptocurrency since its parent company called ETH “China-controlled.”
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