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Ripple (XRP) CEO Brad Garlinghouse Criticized by Mati Greenspan and Tuur Demeester: Here's Why

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Tue, 02/18/2020 - 15:12
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  • Discussion about Chinese domination in Bitcoin (BTC) mining is always among the thorniest issues for blockchain community. Even leaders of crypto sector are debating it

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In a recent interview for the First Move program with CNN host Julia Chatterley, CEO of Ripple (XRP), Brad Garlinghouse, touched on numerous important questions on blockchain development, progress and economics. But one harmless question about the state-nation leading in blockchain worldwide has given rise to a discussion between top-tier crypto titans.

Just a slip of the tongue?

One of the many community-driven Ripple (XRP) accounts shared a snippet of the interview with Mr. Garlinghouse. In this short video he outlines the role of Chinese miners in the Bitcoin (BTC) and Ethereum (ETH) hash-rate

China controls the Bitcoin blockchain. There are 4 miners in China that represent the 60%+ of mining capacity and 80% of mining capacity is based in China for Bitcoin and Ether.

This statement enraged Mati Greenspan, licensed trader, fintech analyst and educator and founder of Quantum Economics. He tweeted that Mr. Garlinghouse's statements about Chinese domination are inaccurate. 

Mati Greenspan enraged as Brad Garlinghouse made a mistake about Chinese domination in PoW-mining
Image via Twitter

Shortly after, Mr. Greenspan changed from anger to mercy as he supposed that the Ripple CEO might have misspoken. He must have meant 'four miner pools' instead of 'four miners', concluded Mr. Greenspan.

It's important to study Bitcoin (BTC) history

Tuur Demeester, macro trader and founding partner in Adamant Capital, also challenged Mr. Garlinghouse's position. According to the trading veteran, he should take some lessons in the history of the flagship blockchain. 

Tuur Demeester: Lessons From Bitcoin (BTC) history are important
Image via Twitter

He remembered the infamous story from 2017, known as the SegWit2x hardfork (Mr. Demeester calls it B2X). This fork was scheduled for November 16, 2017, but never occured due to the lack of consensus. For Mr. Demeester, it was a failed attempt to put the Bitcoin (BTC) blockchain under control of Chinese miners.

Also, Mr. Demeester highlighted the importance of not confusing 'hashrate' with 'mining capacity' and 'miners' with 'mining pools'.

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.)

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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

Cover image via stock.adobe.com
Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

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.)

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