- Bitcoin maximalist Max Keiser controversially labelled XRP as “centralised garbage” and asserted it would virtually become worthless against Bitcoin.
- His criticism underscores the divisive nature of crypto maximalism.
- Yet the growing importance of a multi-chain and cross-chain future in blockchain technology, promoting interoperability and scalability, offers hope for a more collaborative and innovative industry.
Centralised Garbage?
Bitcoin maximalist Max Keiser has done it again; it seems his mission is to trash anything that is not BTC – with a peculiar preference for XRPhttps://cryptonews.com.au/price/xrp/. He told his 550k followers in a post on X that “XRP is centralized garbage that is mathematically guaranteed to trade at virtual zero against Bitcoin.”
He did not say how he derived the mathematical guarantee of something going to zero but he offered some insights into why Bitcoin is better. Because, well, God sent it to “unfuck our money.”
Yes, that’s right, he brought religion into the equation. Who is to argue with that!? Well, for starters almost everyone who responded to his post, many questioning the motive behind the quote.
In all honesty, this is not to trash Bitcoin or XRP in any way, both have their use cases and that is exactly the point. The maximalism in crypto seems to be getting weirder and more awkward each day. In any case, when Keiser pointed out that the XRP price dropped by almost 5%, Bitcoin had done pretty much the same, going to new lows not seen all year.
Multichain World Is Going to Be Key
Whatever the reason for Keiser’s post, it highlights a problem in the crypto industry. Instead of working together to solve some of the problems the industry faces, energy is wasted on bickering over which coin is better, which also portrays the industry in a negative light to potential new entrants.
The industry and especially the maximalists should ask themselves if that is how they would like to be perceived – as hostile and unwelcoming.
However, there is hope; multi-chain and cross-chain technologies are the future and it is unlikely that there will be one blockchain solving all problems at once.
There is for example interoperability, the process enabling different blockchain networks to communicate and interact, which is a key factor leading to numerous benefits in the blockchain ecosystem.
There is scalability, where different chains can handle different types of transactions, distributing the load and improving overall network performance. We already see this for example with Chainlinks automation which reduces gas fees and allows developers to focus on developing, rather than scratching their heads about network constraints.
That is the beauty of blockchain; there will always be new developments, that doesn’t mean what has been around for a while is necessarily obsolete.
Hopefully we see more of the industry coming together, working with rather than against other blockchains – and maybe, just maybe, pesky maximalists will come to their senses. And if not, then may they continue to believe in their heavenly assets but, as Jubal John has put it, “go with God, but go away.”
(There was an original version by Michael Roe and The 77s “go with god, but go.”)
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