Bitcoin (BTC) Maximalist Calls XRP Useless, Ripple Responds: Details

đź“° News
Tue, 02/11/2020 - 11:21
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • {{ content.field_content_author|field_value|getauthorname|raw }}

    Host of What Bitcoin Did podcast, Peter McCormack, chastised all top alts for 'no evidence of use'. The Ripple (XRP) and Dash (DASH) communities have something to say

Bitcoin (BTC) Maximalist Calls XRP Useless, Ripple Responds: Details

While travelling across Latin America, famous Bitcoin researcher and podcast host Peter McCormack had to spend a day at the Venezuelan border. Afterwards, he made a very strange post on major altcoin use-cases.

No use for alts

Mr. McCormack insists that only Bitcoin (BTC) is helping 'in a few niche' cases while altcoins are useless. He named almost every crypto behemoth and put it in the same league as Potato Coin (SPUDS), a barely known coin, inactive since early 2015 with the last estimated price of $0,000002.

Peter McCormack: Ripple is as valuable as Potato Coin

With that said, he concluded that the only valuable crypto is Bitcoin (BTC), though the problems of the modern world require much bigger solutions.

Ripple answered

After this provocative tweet, active members of the altcoin communities decided to explain which use-cases their coins are best suited for. Ripple (XRP) advocates were among the most active.

They named multiple examples in which Ripple (XRP) is used for cross-border remittances or for corporate transactions. A recent partnership with MoneyGram was also frequently mentioned.

Must Read
Ripple XRP Partner MoneyGram Makes Foray into Singaporean Market - READ MORE

Asheesh Birla, Senior Vice President of Product & Corporate Development at Ripple, also answered to the role and place of Ripple in the transactions between the U.S. Dollar and Mexican Peso (MXN).

Asheesh Birla on the role and place of Ripple

Also, it looks surprising that Mr. McCormack named Dash (DASH) a top-ranking useless altcoin after visiting Venezuela. It is in this country where usage of DASH via Android apps rose drastically in 2019.

Must Read
Crypto Adoption on the March, Dash (DASH) Android Wallet Usage Surges 627% in Venezuela - READ MORE

{{ content.field_content_author|field_value|getauthorname|raw }}

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Recommended articles
Binance CEO Mocks Crypto Twitter Panic: 'With Healthy Retrace, Everyone Is Scammer'

Binance CEO Mocks Crypto Twitter Panic: 'With Healthy Retrace, Everyone Is Scammer'

BEWARE: Fake XRP Airdrop Organized by YouTube Scammers

BEWARE: Fake XRP Airdrop Organized by YouTube Scammers

Binance CEO Reveals Whether Bitcoin (BTC) Price Can Be Manipulated by Exchanges

Binance CEO Reveals Whether Bitcoin (BTC) Price Can Be Manipulated by Exchanges