According to Vitalik Buterin, Ripple (XRP) lost its “right to protection” from the community two years ago when it tried to throw Bitcoin and Ethereum “under the bus” while claiming that XRP was better than these two. Then the Ripple founder countered Buterin, asking if he would like the market or the government to end this discussion. So far, the founder of Ethereum has not commented further on the matter. While not direct competitors, XRP and ETH have always been at the top of cryptocurrencies, often occupying the “silver” and “bronze” positions, following Bitcoin. So this fight is one of giants.
Canada limits investments in cryptocurrencies
To understand the discussion between Vitalik Buterin, founder of Ethereum, and David Schwartz, founder of Ripple, one has to understand what is happening in Canada. According to changes in their regulations, Canadians now have a purchase limit of 30,000 Canadian dollars worth of cryptocurrencies per year. However, four of them do not have investment limits: BTC, ETH, LTC and BCH. Even though it was not affected, the Ethereum community spoke out on the matter, questioning Canada’s policy. With that, Vitalik Buterin praised her behavior and then showed contempt for Ripple (XRP) in the following tweet.
Vitalik Buterin Shows Contempt For Ripple (XRP) And Says He Wouldn’t Do Anything For Them
While the Ethereum community is advocating the freedom to invest in other cryptocurrencies, the feeling of goodness ends when Ripple enters the picture. After all, according to Bankless founder David Hoffman and Vitalik Buterin, XRP does not deserve any support.
“XRP already lost the right to protection when they tried to throw us under the bus as ‘controlled by China’, in my opinion:”
“Looks like the Ripple/XRP team is entering new levels of weirdness”points out the 2020 tweet made and quoted by Vitalik Buterin this Wednesday (17). “They are claiming that their shitcoin should not be called a security for ‘public policy reasons’, i.e. because Bitcoin and Ethereum are ‘Chinese controlled’.”
XRP already lost their right to protection when they tried to throw us under the bus as “China-controlled” imo:https://t.co/t6cbMtjsEV — vitalik.eth (@VitalikButerin) August 17, 2022
Ripple founder strikes back at Vitalik Buterin
With Ripple holders asking for a proper answer, David Schwartz, founder and current CTO of XRP appeared in the conversation, again criticizing both Ethereum and Bitcoin.
“’Government should punish projects that don’t fit our narrative’ sounds like a good slogan for ETH.”
It then points out that the miners of these two cryptocurrencies are like shareholders of companies. That is, Schwartz means that both ETH and BTC are securities and not commodities, as many point out. As a highlight, he states that they are interested in keeping transaction fees high.
“Do you think this debate should be resolved by the government or the market, Vitalik Buterin?” asks David Schwartz, founder of Ripple. “This quote wasn’t taken from some attempt by Ripple to get the government to regulate ETH, was it?”
Lastly, the founder of Ethereum has not openly responded to David Schwartz as of press time. Anyway, this fight is so big that it managed to overshadow a big problem: Canada limiting cryptocurrency purchases to its citizens.
