A post by a Bitcoin extremist on the X (formerly Twitter) platform appears to have caused the ire of the XRP community. Staunch Bitcoin supporter Max Keizer shared a patent that is more than thirty years old, proposing that XRP is centralized.
Keizer says XRP is centralized
In Max Keizer’s post on X, he attached an image of the patent application that he used to support his view that XRP is centralized. The patent is dated June 18, 1991, which means it was filed 32 years ago. However, Keizer believes that the patent filed by Ripple co-founder and CTO David Schwartz proves that altcoins are centralized.
However, the patent Schwartz applied for when he was young did not mention Ripple. Instead, Bitcoin maximalists seem to believe that XRP is centralized because Schwartz patented a distributed computer system more than three decades ago.
In the post, Keizer called the altcoin a “centralized cryptocurrency, as you can clearly see from the patent.”
XRP is centralized gold, as you can clearly see from the patent. https://t.co/6OolWXh28L pic.twitter.com/TVfk1MWbg8
— Max Keizer (@maxkeiser) September 24, 2023
For clarity, the patent summary released by Kaiser is as follows:
A multi-stage distributed computer system for distributed processing preferably includes a plurality of personal computers. Tasks entered into the system are assigned to multiple parts. As many parts as possible are distributed to be processed at the lowest level of the system. Those parts that are not processed at the lowest level are distributed to the next lowest level for processing. The remaining unprocessed portion of the task is distributed to available computers at successively higher levels of the system until all tasks have been dispatched for processing.
Token price loses $0.5 support | Source: XRPUSD on Tradingview.com
Communities continue to defend
As expected, members of the XRP community did not take Keiser’s accusations lightly. They flocked to point out the errors in Kaiser’s assumptions. Some directly supported his arguments, while others accused the Bitcoin maximalist of hating XRP.
One user pointed out that the patent filed a few years before XRPLedger was invented was actually for computing task distribution, not decentralized ledger consensus.
Another user explained that XRP is not that different from Bitcoin. According to him, the founders set aside a large portion of the tokens for themselves and their colleagues, just as Satoshi Nakamoto and others involved in the project mined millions of tokens for themselves.
Despite the backlash, Keizer doesn’t seem to be giving up on continuing to fight back against angry community members. In a tweet, a Bitcoin extremist claimed to have invented the virtual currency, drawing more criticism from the community.
Please read my patent before continuing:
Max Keiser’s patent for “Virtual Expert Technology”, 1996
I invented:
– Virtual currency
– Virtual securities
– Virtual market maker
– Prediction market???????? https://t.co/tI6WpUjf3h https://t.co/uPC3eHsPmw
— Max Keizer (@maxkeiser) September 24, 2023
Featured images from YouTube, charts from Tradingview.com
