Skip to main content

Ethereum vs Ripple goes into the next round

 


The fight has been going on since 2018. In his earlier speech , William Hinman, former director of the SEC's corporate finance department, gave Ethereum a regulatory license: ETH is not a security.


Because Ripple also demanded this for its XRP coin, there has been a legal dispute with the US Securities and Exchange Commission since then.


How did the argument start?

In a later - deleted blog post , Ripple claimed Bitcoin and Ethereum were controlled by China: “XRP consistently ranks in the top 3 cryptocurrencies by market cap – alongside bitcoin and ether, the two China-controlled virtual currencies that the SEC does not designate as a security Has." The document was a summary of Ripple's Wells filing with the SEC in December 2020.


The statement alluded to the large Bitcoin and Ether mining industry in China. When China banned bitcoin mining in the country last year, the hash rate plummeted.


Vitalik condemned this attack on the two largest cryptocurrencies. He said at the time: “They [ Ripple ] claim that their shitcoin should not be called security for “public policy reasons”, namely because Bitcoin and Ethereum are “Chinese controlled”.”


Fireworks on Twitter

The regional securities regulator Ontario Securities Commission (OSC) from Canada implemented massive restrictions on the crypto market in the form of purchase limits for crypto currencies last week. BTC-ECHO reported .


As a result, Vitalik railed against XRP, again taking to the Twitter medium: "XRP has already lost its right to protection when they tried to throw us under the bus as 'China-controlled'." David Schwartz, CTO at Ripple, then stepped in and fueled the discussion.



He joked about ETH and accused the project of wanting to eliminate competitors through the government. He also sneered that Ethereum was comparable to the listed online marketplace eBay.


Also, I think it's perfectly fair to compare miners in PoW schemes to shareholders in companies. Just as eBay shareholders make money from the residual value friction between buyers and sellers that eBay does not eliminate, so do ETH and BTC miners.


David Schwartz on Twitter

It's no surprise that Schwartz is getting a lot of approval from the XRP community. The Twitter followers now bombard the tweets of the other side and clean up vigorously.


This annual competition raises the question of whether the crypto community should work together instead. With combined forces and in exchange with the responsible regulatory authority, the question could perhaps be clarified: Is Ripple a security – yes or no?

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more