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El Salvador Bitcoin Advisor Shares 32 Years Old Patent Paper To Claim XRP is Centralized, Community Reacts

source-logo  thecryptobasic.com 25 September 2023 08:44, UTC

The prominent Bitcoin maximalist Max Keiser argued that XRP is centralized based on a 32-year-old patent, but the XRP community disagrees.

Max Keiser, the Bitcoin Advisor to Nayib Bukele, the president of El Salvador, has taken to the X platform to unleash his hate about XRP again.

This time, Keiser shared a screenshot of a patent document to claim that XRP is a centralized digital asset. The document was a United States Patent paper submitted in 1991. While the document did not mention digital assets, it included the name of Ripple’s Chief Technology Officer, David Schwartz.

Because Schwartz was designated an inventor in the patent document, Keiser quoted the paper saying:

“XRP is CENTRALIZED s***, as you can plainly see from the patent.”

XRP is CENTRALIZED s*** as you can plainly see from the patent. https://t.co/6OolWXh28L pic.twitter.com/TVfk1MWbg8

— Max Keiser (@maxkeiser) September 24, 2023

Notably, the patent was about a computer system consisting of multiple interconnected personal computers that work together to process tasks. It may refer to the distributed ledger technology underpinning cryptocurrencies today.

XRP Community Reacts

Expectedly, Keiser’s inference of XRP centralization based on the patent did not sit well with the XRP community.

Matt Hamilton, a former software engineer at Ripple, pointed out that the document had nothing to do with XRP, especially since the document was submitted 32 years ago – whereas XRP is only 12 years old.

Hamilton asked the Bitcoin maxi: “Why be so dishonest if you had actual legitimate points?”

That has nothing to do with XRP? At the very least the date should be a clue to you. Why be so dishonest if you had actual legitimate points?

— Matt Hamilton (@HammerToe) September 24, 2023

Another XRP enthusiast commented:

“The abstract on the patent clearly states it is for distributing computer processes onto multiple computers and says absolutely nothing about cryptocurrencies.”

Moreover, other prominent figures in the XRP community pointed out the weakness in Keiser’s argument. They believed that Bitcoin maximalists would lie about anything to prove their divisive points.

Meanwhile, X user MetaMan countered the XRP centralization claim by drawing parallels with the Bitcoin ecosystem. The commenter argued that if the centralized sentiment stemmed from the founders of XRP allocating a large amount of the token to themselves, then Bitcoin has a similar structure.

MetaMan highlighted that the pseudonymous founder of Bitcoin, Satoshi Nakamoto, allotted a substantial amount of Bitcoin to itself. The Crypto Basic reported recently that Satoshi Nakamoto holds 1.1 million BTC worth over $28,732,000,000 today.

“How decentralized is that really?” MetaMan asked the Bitcoin maxi Keiser.