This will surely spark some fires amongst the cryptocurrency as the Bitcoin maximalists and XRP army are going head to head over a recent list of the top differences between Bitcoin and Ripple, the #1 and #3 cryptocurrencies in the market.
Here is a breakdown of the BTC vs XRP debate at the height of the bull market in 2017 and beyond. Of course, these are all up for argument and may not be factually true but here was the initial firestarter list of each coin.
- Chinese centralized Network
- Susceptible to 51% attack
- 10 TPS (Pathetic)
- Cant scale
- 2017 bullrun avg. fee $50 lol
- Transaction time = hrs, days, weeks
- Miners only mine for incentives
- Unknown Satoshi Nakamoto has 1 Million coins
- (Could dump at any time)
- 0 Utility
- 2017 gains = 2,400% (weak af)
- Decentralized Network
- No insentive to run Nodes
- Cant be attacked 100% secure
- 2017 bullrun avg. fee .40c
- 1,500 TPS
- Transaction time = 2 seconds 🙂
- Complete transparency from Ripple Escrow
- Escrow coins only sold to institutions/banks
- Most utility of any coin
- 2017 gains = 64,000% 😉
The original poster also added this brief commentary regarding the lists of BTC and XRP.
“Bitcoin under performs in ever aspect that possibly exists. Notice how BTC maximalist will never argue fundamentals. They just call names and say scam, shitcoin, blag blah But never fundamentals lol = Bitcoin is clearly the real shitcoin.
Now, this definitely sparked a community-wide debate as dozens of contributors chimed in.
Let’s review a few of the opposing or agreeing comments that flooded in on the forum:
1) nod in bitcoin’s favor
In terms of “fundamentals” please understand that a technology like xrp can be replicated in a few weeks; either by myself, our Chinese friends, anyone with access to a 32/64 bits processor and an Ethernet link. The “PROBLEM” is with who it is hosted and ran by, it will simply never work for that simple reason. Sorry man
2) nod in XRP’s favor
Of course any open source network can be replicated. What makes a network successful is the liquidity duh. So good thing Ripple has sold billions and billions of coins to governments, central banks, institutions, remittance companies, payment providers, credit unions ect ect. For this exact reason…You get the point.
3) more commentary on the points
Oh I (we) get the point, no sweat bud. In fear to offend you at this point with what I’d really like to disclose here, about the activities of the owners and developers, its perhaps best for me to remain quiet and let you believe what’s best for you. Although I’m sure you and others knows what I’d like to disclose. For another time, maybe.
In terms of “fundamentals” you’ve kindly/bravely asked about, I still believe my answer was 100% accurate. That said, let’s hope for you that the Central Banks Digital Currencies does not annihilate your XRP too severely-quickly, sort of leaving you guys sell-off before they go LIVE. Will hurt, no doubts there. GL
4) debating the history
Our understanding is that the xrp ‘plot’ has too much power at a political level therefore temporarily immune from judicial or formal procedures (SEC, District, Federal, all). Most of the distribution/ownership of their cap is dedicated to a very few. You can picture who with some imagination. Greatest official-robbery in the history of humanity, if you ask me.
5) the future of both
More concerned about its instant death 1) when/if bitcoin dips to 2k, 2) Federal Reserve Digital Currency issued in 24 months (official) 3) worldwide Central Banks Digital Currencies, which also plans to go live at about the same time-frame (also official). In other words there is just nobody stupid enough to ‘invest’ in this Clan-Ripple, other than well, folks here perhaps. Sad ending coming up for that tech & company unfortunately and that’s possibly one of the main factor why the SEC has some sort of mercy at the moment.
6) defending bitcoin
Tried to find any lawsuit against Satoshi Nakamoto. Damn hard, looks like google removed/censured all the links to those news :/ Now THAT’s a crypto currency living up to its purpose and glory my friend. Zero Point of Failure, the ONLY one, unique. Don’t ever bloody try to come here and call Bitcoin shit ever again, dearest rippies & other alties fanboyz
7) heated exchange about centralization
Statement: U r proof that common sense is not common. Zero point of failure? China controls over 50% wtf r u even saying. Clearly delusional and short minded. Goodbye
Reply: There are no dumb fuck anywhere in this world or others who will spend $1.4 billion trying to 51 Bitcoin without knowing if this is going to be successful at the first place, most likely failure. I might be delusional but I’m no f n ignorant. Have a nice day – And please don’t give us that Chinese bad-bad western brainwashing bullshit, China have ZERO incentives to carry out whatever you’ve been told by the adults you are listening too, zero/nada #wtf. Grow up man…
8) XRP shills
Of course you dont like Bitcoin. You shill a scam coin that is a centralized load of toss for banks that Bitcoin will likely destroy. I hope you didn’t bet the family jewels.
9) different categories of crypto
Federal (or Central bank) Reserve Digital Currency will still be controlled by feds or central banks and will be inflation coins backed by FIAT (USD, Euro, JPY, KRW etc.) probably regular ppl will not have access to this mantra and will be use ONLY for trans-bank transfers or government contracts. So this will have no harm for BTC. As you know private banks controls central bank and all of them control country governments. All this ppl will never stop the oxygen for their filthy business.
10) XRP is most centralized, not bitcoin
– 51% attacks are not the big thing, in fact very little can be done to the network. Because to maximize the damage to Bitcoin you don’t just have to control 51% of the hashrate, you have to keep it for a while and that is very, very expensive.
– The main problem of XRP is that ALL clients trust the UNL by default that dynamically sets Ripple. I know some users who changed it, but the vast majority use the default one. That translates into that you are under constant threat of a 51% attack but with Ripple having 100% voting power (the equivalent to hashrate) at a 0 cost.
When they have solved that, you can say that XRP is the most decentralized network of all.
Oh, btw, I almost forgot, the UNL by default is made in such a way that the network only works if Ripple agrees with the proposed tx. Ripple has always controlled just over 20% of the validators so that nothing happens in their network that they don’t want.
Seriously, solve that first and then you can criticize the centralization (or not) of Bitcoin freely
11) bitcoin wins
those upcoming CBDC will increase/force knowledge and literally accelerate the ‘trend’ of digital money and means of transfer by magnitude of 1000X. That’s is in fact a good thing for Bitcoin. Not necessarily good for xrp/ripple where I see it going completely devalued if not dead-redundant by that time. On another positive note about CBDC, some expect an incredible amount of personal & corporate information being required in that upcoming digital money trend, gigantically much more than anything else we’ve seen before. Therefore you can clearly imagine how Bitcoin will gain massive popularity, if not take over the digital front-stage in that respect, I actually wouldn’t be surprised.
12) blockchains and centralization
The ways of solving the centralization in a blockchain is something that has always attracted my attention, and in the end many developers do the same: hide it under layers of buzzwords, new consensus algorithms or other features, so you end up getting used to detecting it.
What does the larger cryptocurrency community think about the heated debate on Bitcoin and Ripple? This sure was entertaining to cover and one thing is for sure, this war of the words between BTC and XRP will wage on as the cryptocurrency market tries to climb back to its all time high in market cap of over $830 billion.
And, just because its too funny not to include, two days ago a crypto user put it:
“If Ripple exceeds the bitcoin in two years, I publish a video while in the street I kiss an unknown old lady. What bet do you make? Forward with comments! HAVE FUN”
Then, another user added:
“To Bitcoin maximalists: If Bitcoin could settle transactions in 4 seconds at low fees and had low power consumption XRP would never have been created and Ripple could have leveraged Bitcoin for their xRapid or On-Demand Liquidity solution.”
Also, check out the latest interview between Ripple’s CEO and Bitcoin Bull Anthony Pomp:
We also covered this in a post you can read here too.