Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Pro-XRP Lawyer Says Michael Saylor’s View on Altcoins Is ‘Deeply Flawed’ – Here’s Why

by Daily Hodl Staff
August 2, 2022
in Altcoins, Bitcoin, Ethereum

Attorney and XRP supporter John Deaton thinks Michael Saylor’s recent comments about altcoins are “absurd.”

Saylor, the CEO of MicroStrategy, recently said in an interview with Not Investment Advice that “all of the legitimate talent is working on top of the Bitcoin ecosystem.”

“If you’re honest, ethical and competent, you’re building stuff on Lightning, or you’re building an application.”

Saylor also claims that other projects in the crypto market competing with Bitcoin (BTC) took the shortcut of being unregistered securities because “they’re not decentralized.”

Deaton says Saylor’s comments are “troubling.”

“The ethical comments are absurd and Saylor needs to be better than that. The problem with his analysis is that he equates every potential developer with the platform’s founders.

If he wants to criticize altcoin founders in comparison to Bitcoin, it is understandable and I take no issue, whether I agree or disagree with him.

But we’re talking about an open, permission-less distributed ledger technology. Not every developer was distributed pre-mined tokens.

What about a developer who comes along and builds an application on one of these platforms and the developer has never met or even spoken to the founders, its foundation, or anyone associated with the creation of the token or the technology? Are you really calling them unethical?”

Deaton points to a developer named Jaskaran Kambo, who created a Bitcoin payment app on the XRP Ledger called “SpendTheBits.” Deaton says Kambo didn’t know anyone from Ripple and vice versa.

The XRP supporter also disagrees with Saylor’s analysis that most crypto projects are unregistered securities.

“Saylor basically asserts that if you are aware of the law then you would ONLY build on Bitcoin because the rest of the shitcoins are securities. Saylor’s analysis of what constitutes a security is deeply flawed – which is quite surprising, considering how intelligent he is.”

Last month, Saylor said that smart contract platforms Ethereum (ETH) and Cardano (ADA) are both securities.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/pancha.me/Sensvector

Submit a Press Release

Industry Announcements

  • Oraichain Introduces Accelerator Program for DApps Building on Its AI Layer One Ecosystem
    August 15, 2022
  • DAM Finance Receives Strategic Investment From Arrington Capital Moonbeam Growth Fund
    August 11, 2022
  • Metaverse, Web 3.0 Disruption and Blockchain Advancement To Be Discussed at MetaWeek in Dubai
    August 11, 2022
  • DeFiChain Community Brings Attractive Rewards for DFI ERC-20 Pairs on Uniswap
    August 8, 2022
  • Bware Labs Announces the Blast Incentivized Testnet, Code-Named Houston
    August 8, 2022
  • Aurigami Collects $12 Million War Chest To Grow Aurora-Based Lending Protocol
    August 2, 2022
  • Impel Adds Bitcoin to ISO 20022 Financial Messaging on XDC Network
    August 2, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,904.40
$23,904.40
3.76%
Ethereum
$1,864.93
$1,864.93
5.4%
Cardano
$0.551096
$0.551096
3.49%
XRP
$0.371078
$0.371078
3.16%
Dogecoin
$0.078914
$0.078914
0.31%

Spotlight

  • Crypto Trader Says Potential Ethereum Airdrop Makes Him ‘Incredibly Bullish’ on NFTs – Here’s Why
    August 8, 2022
  • Aave and Similar Projects Could Be Safe From SEC Clampdown, Says Coin Bureau Host – Here’s Why
    August 10, 2022
  • Anthony Scaramucci Warns Against Emotional Trading, Predicts Massive Gains for Bitcoin in Coming Years
    August 13, 2022
  • Trading Bot Known for Beating Crypto Markets Chooses Cardano (ADA), Polygon (MATIC) and Chainlink (LINK)
    August 9, 2022
Finance Magnates London Summit Banner
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

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl