Wednesday, February 19, 2020

Vitalik Butterin Believes Ripple’s XRP Is Better Than Bitcoin [BTC]

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Babatunde Modupe
I am a freelance writer, Poet, blogger and cryptoenthusiast that is totally interested in blockchain technology and sharing it's Information with others.

A co-founder of Ethereum, Vitalik Butterin believes Ripple is a better crypto coin and a better store of value than Bitcoin [BTC]. Vitalik made this known in response to a tweet on Twitter that states that Bitcoin is an ideal stable coin and a great store of value.

Why Ripple Is A Better Choice

Pierre Rochard, in a tweet about Bitcoin, said; “this is the ideal stablecoin and store of value. You may not like it, but this is what peak sound money looks like.”

In response to the tweet post, Vitalik Butterin responded saying; “I think you want to use XRP. The chart for XRP/XRP would look the same, so it’s also sound money, but they have Institutional adoption™ and Partnerships™ so they’re better”.

The proponents of the cryptocurrency have also claimed Vitalik’s reason for claiming that Ripple is better than Bitcoin. The crypto in recent time has seen wide adoption due to its partnership with many financial institutions globally.

These partnership has been driven with the goal of the crypto gaining dominance among platforms such as SWIFT in this present financial system. This has been promoted over time because of its speed, cost among others over the old traditional payment system.

Meanwhile, this is not the first time Vitalik would be praising Ripple. In an article in 2013, where he called Ripple “A new kid on the block,” he noted in the article that Ripple surfacing as a strong and compelling alternative to Bitcoin makes it clearer, also saying that the idea of cryptocurrency is here to stay.

What The Community Thinks

Recently, the President and Representative Director of SBI Holdings, Yoshitaka Kitao, said that XRP’s market capitalization is likely to exceed the market capitalization of BTC. This argument is based on its speed, partnership with financial institutions, among others.

Meanwhile, in contrast, the pessimists do not see Ripple as a cryptocurrency. The CEO of Finland based crypto exchange, Coinmotion emphasized this recently that it is not a cryptocurrency because it is not based on the blockchain. Also, it was noted by the exchange that it is a centralized platform against the decentralized feature of cryptocurrency.

However, Coinmotion noted that Ripple would be a success because of its association with financial institutions.

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