If you think Ethereum is going to take over, you probably own some Ether. If you think the XRP ledger is the greatest thing in the world and everyone’s gonna use it for everything, you probably hold some XRP.”
“I think the one thing that is kind of surprising to me is the sort of hostility to innovation in a lot of the space. A lot of that comes from people who have invested heavily in a project. I can’t talk about the cryptocurrency space without facing the reality that if you think Bitcoin is gonna take over the world, you probably own some Bitcoin.
Ripple CTO David Schwartz says surprising levels of hostility in the crypto community are hampering the growth of the industry as a whole.
“If someone tells you, ‘Hey, Bitcoin has this problem or Ethereum has this problem, or the XRP ledger has this weakness,’ if they’re right, then you will perceive yourself as losing money.
Schwartz explains the implications of cherry-picking the perceived flaws of a digital asset.
During the virtual Blockdown 2020 conference, Schwartz said crypto owners tend to get tribal due to their desire to earn a return on investment, showing remarkable levels of animosity toward rival technologies.
What happens is people dig in very, very deeply and nobody is invested in the project that doesn’t exist yet, and so there’s this sort of hostility to innovation.”
Schwartz cites Bitcoin as an example, explaining why investors of the king