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Ripple’s David Schwartz: I Have Been Selling My Bitcoin Due to Its Level of Risk


newslogical.com 2020-06-30 15:30
Reading time: ~4 m

‘I have been selling out from my Bitcoin holdings over the years,’ Ripple Chief Technical Officer (CTO) David Schwartz has said during a conversation on Twitter where he expressed his fear and concern for the risk associated with Bitcoin.

While Bitcoin continues to face several criticisms from its misanthropes around the world including the like of President Donald Trump, Peter Schiff among others, the latest statement from the ardent crypto evangelist and CTO of Ripple blockchain firm, David Schwartz, may have thrown a jab at crypto enthusiasts and investors around the world, giving them more reasons to be skeptical about investing in Bitcoin.

In a shocking message during a conversation with some crypto users and investors, David said he has been selling from his Bitcoin holdings over the years.

It is now clear that David Schwartz is likely not a supporter of Bitcoin. When asked by the CEO of Blockstream, Adam Back, if he’s a Pro-Bitcoin and weather he has been converting his XRPs into Bitcoin, CTO David Schwart said No.

He explained that although he remains bullish on Bitcoin, he has been selling his shares of the largest digital asset due to his fearfulness for the risk associated with the cryptocurrency.

Is David Schwartz the Real Satoshi?

The whole train of conversion began as Adam Back tried to rubbish the existence of the pseudonymous Bitcoin creator Satoshi Nakamoto. Adam said we all are Satoshi, and Bitcoin is a better-decentralized cryptocurrency without the presence of its founder.

Adam got a swift rejoinder from Ripple’s Director Nicholas Bougalis, who refuted his assertion. Nicholas said Satoshi’s brilliancy and principles reflect in the creation of Bitcoin. He said the fact that Satoshi did not just realize Bitcoin but acted on it shows his braininess.

However, the conversation escalated into who Satoshi is as a crypto user, Jaime Neufer by name, opined that he thinks David Schwartz is the real Satoshi.

Nicholas issued a clarification that he’s sure David isn’t Satoshi based on his code & writing style which is dissimilar to Satoshi’s, despite, the CTO interjected clearing the air about his identity in relation to the Bitcoin creator.

He said based on the supreme skill displayed in the makeup of Bitcoin, it is most likely a small group of people is behind the creation of the cryptocurrency rather than one person.

CTO David Schwartz said rather than thinking he’s the lone man Satoshi, it is more reasonable to say that he was part of the team that built Bitcoin, however, he only found out about Bitcoin around 2011.

Who is Satoshi?

The cryptocurrency world is still waiting for the identity behind the name “Satoshi Nakamoto” who is arguably behind the discovery of Bitcoin in 2008 during the global financial crisis. Till today, the pseudonymous founder of Bitcoin has not come out to reveal his identity or move parts of his digital currency.

Although hundreds of people have claimed they are Satoshi Nakamoto at various points in time, they have been discovered to be entities seeking popularity with the nascent technology poised at changing the face of the financial industry.

The decision by Satoshi Nakamoto not to come out of hibernation at the moment has been seen by observers as the best thing for the cryptocurrency space.

Not long, crypto pundit John McAfee promised to reveal the identity of the entities behind Bitcoin, however, he decided not to due to a threatened lawsuit against the action.

McAfee, at that time, had said the pseudonym “Satoshi Nakamoto” is a codename for some sets of Chinese programmers who chose to remain anonymous.

Recently, the popular antivirus software developer, boasted to know those behind Bitcoin, as usual, he said he’s not ready to tell anyone who they are.

The U.S. presidential hopeful claimed to be 99% sure of the identity selected to write the Bitcoin whitepaper. He said the whitepaper was written by a single person among an eleven-people team behind Bitcoin within five years.

Also, he claimed the author used British English and employed two spaces after every period. He said the document format resembles what Satoshi Nakamoto had professionally published. McAfee decided to not mention who the author of Bitcoin whitepaper for security concerns.


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