Althoughย while the cryptocurrency space awaits the summary judgment on the case betwixt the Unitedย States SEC and Ripple Labs, controversies keep growing owingย to diverse user opinions and perspectives.
In a recent development on May 23,ย a prominent Bitcoinย (BTC) proponent Max Keiser took to Twitter to criticize XRPย Rippleย (XRP) and the XRPย Rippleย (XRP) community. Keiser indicatedย that XRPย Rippleย (XRP) is a shitcoin reportsย by the legal position of El-Salvador on the cryptocurrency investment definition.ย
Ripple CTO Reacts To SEC Actions Attracting Max Keiserโs Criticisms
Keiserโs criticism of XRPย Rippleย (XRP) came as a response to the tweet Rippleโs CTO David Schwartz posted.ย Schwartz who was reacting to the SECโs regulatory stance on digitalย currencies, had noted that the resolution of the SEC vs. Ripple lawsuit canย potentially impact the Unitedย States cryptocurrency industry.ย
He considered the situation if the SECโs legal position were to treat all cryptocurrency assets except Bitcoinย (BTC) as securities. Reportsย by Rippleโs CTO, Unitedย States residentsโ legal participation in the cryptocurrency space would become dicey if such a position holds. He likewise notedย that Coinbaseย Cryptoย exchange still engages in some cryptoย token sales that the SEC considers securities to Unitedย States residents.
Asย aย result to the post, the Bitcoinย (BTC) proponent Max Keiser indicatedย that XRPโs legal position in El Salvador is under shitcoin.ย
Usually, a digital investment would be referred to as a shitcoin if it has little or no value. Thisย implies the cryptocurrency investment was designed with questionable technology, has limited utility, has weak development teams, or operates with fraudulent goals.
Usually, a digital investment would be referred to as a shitcoin if it has little or no value. Thisย implies the cryptocurrency investment was designed with questionable technology, has limited utility, has weak development teams, or operates with fraudulent goals.
Onย theย otherย hand, before his shitcoin remark, Keiser had attacked XRPย Rippleย (XRP) in his Twitter post. In the tweet, he reiterated that every other cryptocurrency investment but Bitcoinย (BTC) is regarded as a security in El Salvador.ย
Max Keiser is one of the prominent Bitcoinย (BTC) maximalists in the cryptocurrency space and is asย ofย now a Bitcoinย (BTC) adviser to El Salvadorโs Government. Recently, he hasย evolved a staunch critic of cryptoย altcoins, with a special focus on XRP.ย
XRPย Rippleย (XRP) Army Reacts To Keiserโs Attack
The XRPย Rippleย (XRP) community has shown anger at Keiserโs criticism of the cryptoย token. An XRPย Rippleย (XRP) enthusiast teased Keiser about Bitcoinย (BTC) being a failure in El Salvador.ย
The Twitter user โ@ALL_IN-UTILITYโ responded to Keiserโs tweet, โEl Salvador who? Oh, the country of turds and BITSHIT COIN, heard it had been a real failure.โ
Similarly, another user commented that no one worries about Keiserโs mental illness stating that โItโs sad to watch once smart and respectable people lose their minds to maximalism.โย
A third user, Dr. Haus, stated that Keiser is obsessed and preoccupied with XRPย Rippleย (XRP) because the investment threatens him.
Inย theย meantime, XRPย Rippleย (XRP) trades at $0.4539 at the time of publication, indicating a fall of 2.26 percent inย theย previous 24 hours.ย
Featured image from Pixabay and chart from TradingView
