Ripple CTO Emeritus David Schwartz called Bitcoin (CRYPTO: BTC) a “technological dead end” comparable to the dollar as XRP (CRYPTO: XRP) is consolidating after a V-shaped recovery from $1.15 lows.
The ‘Dead End’ Argument
Schwartz on Thursday on X responded to a user asking if he’d considered working on Bitcoin again after co-creating the XRP Ledger.
“Not really. I think Bitcoin is largely a technological dead end for the same reason the dollar is,” he wrote.
Schwartz argued Bitcoin’s success doesn’t depend on blockchain innovation. “The technology just doesn’t seem to matter all that much to its success, at least not at the blockchain layer.”
He explained the core function investors care about isn’t new features but the simple expectation that Bitcoin remains usable and transferable in the future.
“For 99% of what makes Bitcoin interesting, all the blockchain needs …