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- David Schwartz recently used the social media platform- Twitter, to compare the third-largest cryptocurrency XRP to an iPhone.
- Venture capitalists and angel investors fund Ripple, and, as per Schwartz’s words, the amounts of their polemic XRP sales are negligible.
- XRP is no doubt a dominant and emerging cryptocurrency which used for the facilitation of fast cross-border payments.
Ripple’s chief technology officer, David Schwartz recently used the social media platform- Twitter, to compare the third-largest cryptocurrency XRP to an iPhone. The motive behind this comparison was to prove to the people that you would not want to give his company the money.
Further, he also stated in his tweet that people don’t usually care who else they create value for till time they can get and enjoy the benefits of desired products. He made it more simple by giving an example that he would avoid buying an iPhone if he feels that the benefits provided by the phone are not sufficient. He wouldn’t refrain from buying an iPhone just because he doesn’t want Apple stockholders to make money.
Schwartz recently showed concerns during an exceedingly fruitful dialogue with the XRP naysayers who alleged that Ripple ran an ICO to lift funds for future development. He was convinced that investors no longer purchased the cryptocurrency to counterpoint the company’s ecosystem and see the token go up in worth.
Venture capitalists and angel investors fund Ripple, and, as per Schwartz’s words, the amounts of their polemic XRP sales are negligible. The semantics of this word are arguably controversial since the blockchain monolith, which currently valued at $10 billion, after a $250 million funding round, has sold over $1.2 bln value of XRP since the last two years.
Schwartz is defending XRP after he expressed that he was concerned about the token’s distribution back in September 2019 in public.
The comparison between XRP and Apple is no doubt, very random. Still, the purpose behind this was that Schwartz wanted to emphasise on the fact that XRP investors buy the tokens for various other reasons that just price speculations.
However, this resonates the statement which was made by Ripple CEO Brad Garlinghouse, claiming that only cryptocurrencies who had real use cases would be able to survive. At the same time, 99 per cent of all digital assets would eventually go to zero.
XRP is no doubt a dominant and emerging cryptocurrency which used for the facilitation of fast cross-border payments. However, comparing its disruptive power to an iPhone is also too far stretched. According to the critics, it is illegal security which serves the purpose of generating a revenue stream for the company.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
