Ripple’s community turns on Vitalik Buterin over XRP tweet Ripple’s community turns on Vitalik Buterin over XRP tweet

Ripple’s community turns on Vitalik Buterin over XRP tweet

Ripple CTO David Schwartz said Bitcoin and Ethereum were securities, with other community members poking fun at ETH gas fees.

Ripple’s community turns on Vitalik Buterin over XRP tweet

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Ripple community members have turned on Ethereum (ETH) co-founder Vitalik Buterin for his tweet on XRP.

Buterin, while praising Ethereum community members, said XRP lost its right to protection after it tried to “throw us under the bus as ‘China-controlled.'”

XRP community members did not take this statement lightly, as evidenced by the response of Ripple’s chief technical officer David Schwartz who implied that ETH urges the “government (to) punish projects that disagree with (its) narrative.”

Schwartz continued with an analogy that ETH and Bitcoin(BTC) were securities, saying miners could be likened to eBay shareholders.

According to him, miners in a proof-of-work system profit from the friction between buyers and sellers, just like eBay “stockholders earn from the residual friction between buyers and sellers that eBay does not remove.”

He concluded his tweet by asking if Buterin wanted the government or the market to determine the status of ETH.

Ethereum’s status draws debate

The CTO’s statement is not the first time a major player in the industry declared that ETH was security.

In an interview, Michael Saylor, a renowned known Bitcoin maximalist, said Ethereum was a security.

According to Saylor, the presence of a management team alongside the continual hard forks of the network makes it a security.

Meanwhile, Ripple has accused the SEC of favoring ETH over other digital currencies.

The payment company has requested access to a speech of the agency’s former director William Hinman where he said that ETH was a commodity.

However, the commission is yet to accede to this request.

Ripple community bashes Buterin, Ethereum

XRP community members are bashing Buterin, with some implying that he stole the “smart contract” idea from Ripple’s Codius.

Another community member poked fun at the historic high gas fees of the network.

While some implied that the SEC had received a $15 million kickback to give “ETH a regulatory free pass.”

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