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

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Tue, 02/11/2020 - 11:21
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Vladislav Sopov
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
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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
Image by Twitter

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.

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Ripple XRP Partner MoneyGram Makes Foray into Singaporean Market

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
Image by Twitter

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.

Related
Crypto Adoption on the March, Dash (DASH) Android Wallet Usage Surges 627% in Venezuela

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)