Lawyer and XRP Proponent John Deaton thinks Michael Saylor’s recent comments on altcoins are “absurd”.
Saylor, the CEO of MicroStrategy, recently said in an interview with Not investment advice that “all legitimate talent works above the Bitcoin ecosystem”.
“If you’re honest, ethical, and skilled, you build things on Lightning, or you build an app.”
Saylor also claims that other projects in the crypto market compete with Bitcoin (BTC) have taken the shortcut of being unregistered titles because “they’re not decentralized”.
Deaton said Saylor’s comments are “disturbing”.
“Ethical comments are nonsense and Saylor has to be better than that. The problem with his analysis is that he equates every potential developer with the founders of the platform.
If he wants to criticize the founders of altcoin over Bitcoin, that’s understandable and I have no problem whether I agree with him or not.
But we are talking about an open, permissionless distributed ledger technology. Not all developers received pre-mined tokens.
What about a developer developing an app on one of these platforms who has never met or even spoken to the founders, their foundation or anyone associated with the creation of the token or technology? Do you really call them unethical? »
Deaton appoints a named developer Jaskaran Kambo, who created a bitcoin payment application on the XRP Ledger called “SpendTheBits”. Deaton says Kambo didn’t know anyone from Ripple and vice versa.
The XRP proponent also disagrees with Saylor’s analysis that most crypto projects are unregistered securities.
“Saylor is basically saying that if you are aware of the law, you will ONLY rely on Bitcoin because the rest of the shitcoins are securities. Saylor’s analysis of what constitutes security is deeply flawed – which is quite surprising, given his intelligence.
Last month, Saylor said that Ethereum smart contract platforms (ETH) and Gimbal (ADA) are both securities.
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