In a raucous chatter on X, Ripple‘s very own balloon animal, David Schwartz, took to the digital stage to poke fun at the wacky world of crypto misinformation—like trying to compare apples to spacecraft! 🚀🍏
Schwartz was responding to an X user who magnanimously nodded their head in agreement, probably while enjoying a big bowl of popcorn, over his insights on why comparing the prices and supplies of two different cryptocurrencies is like trying to compare a walrus to a swimming pool. Confusing? You betcha!
“You can’t compare the prices for ‘one coin’ for precisely the same reason you can’t compare the supplies measured in ‘number of coins’,” Schwartz blurted out, wagging his finger. “Both are confusing myths of exactly the same ludicrous kind, and we should call them out—like it’s a bad magic trick!” 🎩✨
Right. You can’t compare the prices for “one coin” for precisely the same reason you can’t compare the supplies measured in “number of coins”. Both those things are confusing misinformation of exactly the same kind and we should call it out.
— David “JoelKatz” Schwartz (@JoelKatz) February 22, 2025
Ever tried comparing prices of cryptocurrencies and ended up with more questions than answers? That’s what happens when you let your uncle Bob handle your crypto investments! 📈🤦♂️ Misinformation in crypto can lead to disastrous decisions—like investing all your savings in a two-headed coin! 🪙
Schwartz’s wise words remind us to analyze crypto assets like they’re ingredients for a five-star meal, rather than those sad TV dinners overflowing with unrealistic expectations. 🍽️😋
And There’s More: The Misinformation Circus Continues 🎪
The Ripple bigwig also shone a spotlight on another carnival of confusion, one where the supply of crypto assets is compared based on the “number of coins.” Like encouraging kids to compare their candy wrappers! 🍬😜
Sure, Schwartz pointed out that while XRP and Bitcoin share a birthday cake, they are lightyears apart when it comes to supply. XRP has a colossal maximum supply of 100 billion (like a never-ending roll of toilet paper), while Bitcoin peeks in at a modest 21 million coins. Talk about a crowd! 🎉
So XRP might be trading at $2.55 and Bitcoin for a staggering $95,731, but don’t let those numbers blind you! When it comes down to dollars, Bitcoin is basically wearing a tuxedo to the pajama party, and Schwartz argues there’s no meaningful way to say Bitcoin is “scarcer.” The only reason you get fewer BTC is it’s just a fancy-pants higher value unit of measurement! 🚀💵
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2025-02-23 17:44