Ripple’s David Schwartz Leaves Comments About Roger Ver’s XRP Insults
David Schwartz was one of the original people that put together the XRP Ledger for Ripple and is presently the CTO. However, his precious platform has been the victim of some cruel works from Roger Ver, who is presently the CEO of Bitcoin a.k.a. “Bitcoin Jesus.” Even with his major presence in cryptocurrency, he commented on Twitter that he is not sure that XRP is even considered a crypto token.
Ver was in an interview with Omar, who is well-known as a YouTuber, and he discussed the investment that he made with Ripple’s company. According to his claims, Ver believes himself to be the second person to ever get involved, and he even says that Jed McCaleb (Ripple’s co-founder) and Stellar Lumens spoke with him personally about the idea behind it.
It seems that the original concept of XRP tokens and Ripple was to improve upon the ecosystem of Bitcoin (BTC), which had no mining requirement. The idea would help to reduce the amount of electricity used, giving consumers the ability to take on Bitcoin in a consistent and uncontrolled way. At the time, since Bitcoin had a market cap of “ten million bucks” and had only a $2 value for trading, Ver sided with Ripple.
To add to the salt in the wound, Ver also said (at the time) that Ripple had a better banking system, requiring “35 bucks” to send any wire transaction, if it was able to be adopted by mainstream crypto. However, Ripple also has the power to freeze accounts.
In response to the published article from AMBCrypto that cited the original statement from Ver, Schwartz decided to comment,
“It is genuinely baffling to me how @rogerkver went from a person who was driven entirely by devotion to principles of individual liberty to someone who will lie and distort the truth to advance a system he is invested in.”
In another comment, he added,
“I don’t doubt that he believes that system advances his principles and that those principles are still important to him. His tactics, however, are entirely unprincipled. He’s too smart to actually believe some of those claims.”
When Schwartz received replies that inquired about Ripple’s ability to freeze, he attempted to clarify, saying that there is a freeze feature, but it is for other assets on their ledger. The only way that assets can be frozen are by the issuer, but there are three settings – Individual, Global, or No Freeze.
Within the Individual freeze, only one party can be frozen. The Global Freeze means that multiple asset holders can be frozen, while No Freeze means that the individual relinquishes the ability to freeze a counterparty. The reason that this is not Ripple’s responsibility is because it does not impact XRP, and that XRP is not issued by any specific entity.
“It’s just hard for me to believe that’s now how he thinks. Anyone who knew him six years ago would say the same thing.”