Ripple CTO David Schwartz AKA JoelKatz Trades Blows With Craig Wright

December 27, 2022 11:50 am Comments

Ripple CTO David Schwartz, aka JoelKatz, recently had a heated exchange with Craig Wright on Twitter…

Wright posted that Bitcoin could never be adopted by institutional investors unless a court order was involved to “recover the system”—which doesn’t immediately make sense.

Schwartz responded by telling Wright that his argument was dumb for a multitude of reasons and that institutional investors should not be the focus of peer-to-peer digital money.

From there, the argument descended into a multi-day affair…

This is not the first time Schwartz has engaged in a heated argument online; previously, Schwartz took aim at Ethereum founder Vitalik Buterin—calling Ethereum a tool of the state.

The argument originally began with this post made by Wright, which David Schwartz immediately called out:

Bitcoinist noted this about Wright:

The grand finale of the dispute was a threat by Wright that he will publish an “academic analysis” of XRP to a publication standard in 2023, which he will provide free of charge to the U.S. Securities and Exchange Commission as support in its legal battle with Ripple.

“Basically, we’re showing how dishonest the system is. Enjoy what’s coming. This will stop the constant XRP scams,” Wright wrote.

The argument continued into the next day with several other tweets and tweet threads:

Coin Geek shared more of Wright’s perspective on Ripple and XRP:

Dr. Wright thinks Ripple will sink under regulatory action and subsequent lawsuits from everyone who’s ever invested in it, and warns something very similar could happen to Ethereum in the future. He remains confident that every blockchain other than Bitcoin will disappear, though regulatory actions or loss of value… or both.

The conclusion sees Dr. Wright give his opinion on how blockchain has been mis-sold and misunderstood by so many. This includes many of the products and services that accompany it, like exchanges and hardware wallets.

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