In a remarkably illuminating moment of internet epiphany, Ripple’s Chief Technological Officer, the esteemed David Schwartz, recently endeavored to elucidate one of the more pressing inquiries of our time—namely, the irreconcilable differences that separate XRP from Bitcoin, those two behemoths of the blockchain realm.
In a rather spirited exchange on the platform known as X, Schwartz made a rather cheeky observation about the supply dynamics of these digital darlings. He declared, perhaps a touch too triumphantly, “The main difference in their supply is that, measured in common units (which is, undeniably, the only sensible way to measure two things you plan to compare), there is a lot more bitcoin than XRP.” Also, let’s be real, who wouldn’t want to sound clever while discussing their cryptocurrency? 💁♂️💰
The main difference in their supply is that, measured in common units (which is the only sensible way to measure two things you plan to compare), there is a lot more bitcoin than XRP.
— David “JoelKatz” Schwartz (@JoelKatz) February 18, 2025
Schwartz, in his infinite wisdom, continued his insightful discourse, addressing the poor, beleaguered souls who misinterpret the dynamics of Bitcoin and XRP, as though they were discussing the merits of different brands of breakfast cereal. At the time of this delightful writing, Bitcoin was mind-bogglingly trading at $95,643, while XRP—bless its heart—was hovering around the princely sum of $2.59. 🥣
The Ripple luminary made it abundantly clear that while there are indeed both similarities and differences between XRP and Bitcoin—like distinguishing between a golden retriever and a particularly fluffy mop—it is all too easy to let one’s mind wander into the abyss of misapprehension when one attempts to compare their supplies.
XRP boasts a rather ambitious maximum supply of 100 billion units, while Bitcoin clings, with all its might, to its fixed supply of a mere 21 million coins. Presently, a staggering 19.82 million BTC have been mined—thank you, Satoshi Nakamoto—while XRP stands tall at a somewhat staggering 99.87 billion units. If only there were as many clever distinctions in the world as there are XRP! 🍀
As it happens, in dollar terms—because who isn’t obsessed with the almighty dollar?—the supply of Bitcoin still usurps XRP’s. Schwartz, with the air of a professor addressing an ill-prepared class, added, “Measuring in dollars, the supply of Bitcoin is greater than XRP. There is no meaningful sense in which Bitcoin is scarcer than XRP.” Bravo! The intricacies of cryptocurrency have never seemed so approachable—or so fringe! 🎓
How it all started
Rewind, if you will, to the winter of 2011, a year ripe with promise. Three intrepid developers—Schwartz, along with the dashing Jed McCaleb and the unassuming Arthur Britto—found themselves utterly fascinated by the Bitcoin phenomenon yet disenchanted by the rather wasteful imbroglio of mining. While most were catching up on their reading, these men were plotting the creation of the XRP Ledger (XRPL), a shimmering vision of a refined digital asset designed to overcome those gnarly limitations of its predecessor—because who wouldn’t want a crypto more sustainable than a trendy organic grocery store? 🥦
The XRP Ledger’s illustrious debut graced the digital stage in June 2012, a refreshing breeze after Bitcoin had already made its grand entrance years prior, thanks to Satoshi Nakamoto, who penned the original whitepaper in 2008 before launching the notorious network in 2009. Ah, the sweet taste of innovation amidst a whirlwind of speculation!
Ah yes, January 3, 2009—mark the date! This is when the Bitcoin network first clambered onto the world stage, with Satoshi himself mining the ever-elusive genesis block, a rigorous endeavor for which he was rewarded with the princely sum of 50 Bitcoins. And thus, dear reader, the unremarkable circumspect history of cryptocurrency unfurled before us, a tale worthy of both reverence and sardonic chuckles.🎉
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2025-02-18 15:10