Max Keiser, the Bitcoin advisor to El Salvador’s President Nayib Bukele, has once again stirred controversy. The XRP critic is arguing that XRP is centralized. Keiser’s claim hinges on a 32-year-old United States patent document, though the XRP community vehemently disagrees.
Keiser made his case on X, sharing a screenshot of the patent paper from 1991. While this document had no explicit connection to digital assets, it did feature the name of David Schwartz, Ripple’s Chief Technology Officer, as one of the inventors.
Keiser used this detail to support his argument, stating, “XRP is CENTRALIZED s***, as you can plainly see from the patent.”
— Max Keiser (@maxkeiser) September 24, 2023
Backlashes from XRP Community
Unsurprisingly, Keiser’s assertion didn’t sit well with the XRP community. One user called Kesier “confused as usual.”
Former software engineer at Ripple, Matt Hamilton, pointed out that the patent had no direct relevance to XRP, particularly given its age. The patent is 32 years old, while XRP itself is only 12 years old. Hamilton questioned Keiser’s integrity, asking, “Why be so dishonest if you had actual legitimate points?”
Prominent voices within the XRP community also joined to criticize Keiser’s sentiment. XRPcryptowolf asked what the patent had to do with XRP. He argued that Bitcoin maximalists would go to great lengths to advance their divisive viewpoints.
Another XRP supporter emphasized that the patent’s abstract explicitly stated its focus on distributing computer processes across multiple computers, with no mention of cryptocurrencies.
However, Kesier has his supporters in this argument. One user asked him to keep going and called everyone with opposing views “cry babies” who were trying to attack Kesier.
MetaMan countered the centralization claim by comparing XRP to Bitcoin. MetaMan argued that if Keiser’s centralization concern arose from founders allocating a significant amount of the token to themselves, then Bitcoin was guilty of the same, seeing that Satoshi Nakamoto, Bitcoin’s anonymous founder, holds 1.1 million BTC.
The similarity is also clear because Ripple’s CEO expects XRP to become the next Bitcoin if a million-dollar problem can be solved. Kesier didn’t bother to defend his point, instead, he replied with, “Cringe.”
Another user replied, stating that MetaMan was telling the truth. They highlighted that wealthier users with better computers mined most of the supply. He also pointed to the Mt.Gox hack from 2014, asking how many people knew about Bitcoin before then and how many people lost their BTC because of Mt.Gox.