Buterin who is usually outspoken on ETH-related issues was quick to spot excerpts of the article posted by Ripple, titled “Summary of Ripple’s Wells Submission,” a follow up to the SECs lawsuit, in which the writers alleged that Bitcoin and Ethereum are similar to Ripple’s XRP, which is a better alternative to the two top cryptocurrencies, for reasons that include wider adoption due to its open-source nature, and its inability to be centralized by the Chinese government.
Parts of the piece reads;
“Policy reasons counsel against finding XRP to be an investment contract.
A. Innovation in the cryptocurrency industry will be fully ceded to China. The Bitcoin and Ethereum blockchains are highly susceptible to Chinese control because both are subject to simple majority rule, whereas the XRPL prevents comparable centralization.”
“XRP is a fully functional currency that offers a better alternative to bitcoin. 1. XRP is a widely adopted digital asset based on an open-source blockchain technology, with an extremely robust, fully-functioning currency market. XRP consistently ranks among the top three virtual currencies by market capitalization—alongside bitcoin and ether, the two Chinese-controlled virtual currencies that the SEC has stated are not securities.”
In a response tweet, a displeased Buterin calls XRP a shitcoin, a follow-up tweet was also directed at the Chinese foreign ministry spokesperson, who Vitalik quizzed on why the Ethereum network was yet to receive an “order.”