The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ripple Defends Sale of XRP, Compares Digital Asset’s Ecosystem to Bitcoin

by Daily Hodl Staff
September 5, 2019
in Ripple and XRP

Ripple chief technology officer David Schwartz is addressing the company’s ownership of approximately 60% of all XRP in existence and its routine sale of the digital asset.

In a series of tweets, Schwartz says the XRP Ledger remains decentralized despite the company’s holdings.

“Ripple owns a lot of XRP and is one of the most interested participants in the XRP ecosystem. But XRP is an open digital asset that anyone can use however they please and Ripple does not own or control XRP itself or the decentralized XRP Ledger on which it moves.”

When asked about Ripple’s over-the-counter (OTC) sale of millions of dollars in XRP each month, Schwartz says no digital asset ecosystem is perfect and notes that Bitcoin miners sell some of their BTC to pay for the cost of doing business.

“[So] do Bitcoin miners. Of course Bitcoin miners have to give most of it to semiconductor and power companies and can’t invest it into the Bitcoin ecosystem…

We designed a system that doesn’t take millions of dollars a day to agree and be secure and that provides better performance, scalability, and decentralization as well…

I’m not trying to say Bitcoin’s bad, I just think it’s not fair to compare XRP to some imaginary perfection rather than the actual assets most similar to it in market presence, size, and so on.

I think Bitcoin is great and I’m not particularly interested in people who want to criticize XRP on areas in which it is superior to Bitcoin.”

Schwartz also talks about the early days of Ripple, and the company’s efforts to outline the distinction between Ripple the company and the token XRP.

In retrospect, I wish we had named things differently. Each step made sense at the time, but the end result is a bit of a mess.

— David "JoelKatz" Schwartz (@JoelKatz) September 4, 2019

You can check out the full thread here.

Submit a Press Release

Industry Announcements

  • Venom Foundation Achieves 150,000 TPS in Closed-Network Stress Test, Paving the Way for 2025 Mainnet Upgrade
    May 23, 2025
  • XDC Network’s XVC Tech Announces Investment in Laser Digital Carry Fund, Launches Institutional Fund Infrastructure With Libre
    May 22, 2025
  • Psy Develops First Trustless Bridge From Dogecoin to Solana
    May 22, 2025
  • Mantle and Republic Technologies Forge Strategic Partnership To Pioneer Institutional mETH Integration
    May 22, 2025
  • BTCC Exchange Appoints Dan Liu as CEO Ahead of 14th Anniversary Milestone
    May 21, 2025
  • Bitcoin Suisse Secures In-Principle Approval From ADGM’s Financial Services Regulatory Authority
    May 21, 2025
  • Beer 2.0 – The Memecoin That’s Brewing Something Bigger on Solana
    May 20, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$108,952.19
$108,952.19
0.46%
Ethereum
$2,555.45
$2,555.45
0.79%
BNB
$673.43
$673.43
0.21%
Solana
$176.23
$176.23
3.27%
XRP
$2.35
$2.35
0.89%

Spotlight

  • Bitcoin Cycle Peak Coming Next Year, Says Crypto Analyst Jason Pizzino – Here Are His Targets
    May 17, 2025
  • Here’s How Bitcoin Explodes To Up to $200,000 This Summer, According to BitMEX Founder Arthur Hayes
    May 17, 2025
  • Thousands of Customers’ Names, Addresses, Birthdays and Other Info Leaked in Cyber Attack on Retail Giant: Report
    May 17, 2025
  • Major Bank Handing $4,100,000 To Americans After Allegedly Hammering Thousands of People With Unwanted Phone Calls
    May 17, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl