• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: BREAKING: Robinhood Takes A Stand: Ditches 3 SEC-Designated 'Crypto Securities'
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Robinhood Takes A Stand: Ditches 3 SEC-Designated 'Crypto Securities'
White House Considers Ripple as a Foil to China's Bitcoin Dominance

White House Considers Ripple as a Foil to China’s Bitcoin Dominance

Emilio Janus by Emilio Janus
5 years ago
in Ripple, Altcoins, News, News teaser
0

Ripple is certainly divisive, seeming to catalyze an equal number of naysayers as it maintains influential fans. According to Chief Market Strategist, Cory Johnson, those fans may also include the highest office in US government.


Media Professional

Johnson, who joined Ripple Labs in March this year, has an extensive background in journalism. He founded basketball magazine, SLAM, before a stint working at CNBC and 8 years at Bloomberg. One of his main tasks at Ripple has been to improve public perception of the company.

In a recent interview, Johnson covered lots of ground, including a hook-up with former US President, Bill Clinton, earlier this year. But one of the more interesting things he discussed was regarding current president, Donald Trump.

Chinese Takeaway

Chinese domination of bitcoin (BTC) [coin_price] mining has caused concern in the industry, specifically regarding how much leverage this provides China over bitcoin. According to Johnson, this concern spreads as far as The White House.

When questioned over the Trump administration’s feelings about Ripple, he replied that his initial low expectations were unfounded. The open-mindedness and smart questions regulators and government have asked have amazed him.

Johnson said that The White House:

[…] seems to be thinking about what it means to have 80 percent of bitcoin mining taking place in China… When you look at XRP, there is no mining, so from a foreign-control aspect or from an environmental aspect, XRP is a very different beast. And… the administration… seem to get that and think that might matter.

Those Who Say “Nay!”

Obviously, critics were quick to jump on this comment, but in a somewhat cack-handed manner. Coinmetrics.io co-founder, Nic Carter, took umbrage at his own perception that Ripplers were being painted as benevolent environmentalists.

I think the XRP story is a solid reductio ad absurdum demonstrating that the "PoW is costly" angle is a cynical ploy. It's impossible to read this and think "those benevolent Ripplers are surely motivated by their environmental sensibilities." pic.twitter.com/ni93GiH9PG

— nic carter (@nic__carter) October 16, 2018

The assertion that this is the implication seems a bit tenuous. Surely the lower hanging fruit is the suggestion that the Trump administration think that environmental aspects might matter.

Central Criticism

One of the more legitimate criticisms of Ripple centers on its level of decentralization, and this was also addressed in the interview. Johnson feels that one of the keys issues is the conflation of Ripple Labs and XRP.

Johnson claimed that Ripple Labs control only 10 of the 150 validators of the XRP currency, although they do own about sixty percent of the currency’s tokens.

Despite the criticism, Ripple continues to seal big-name partnerships, and last month even briefly overtook Ethereum as the second largest cryptocurrency by market cap. Any endorsement by The White House could potentially be the biggest coup of all.

Why is the government reportedly warming up to Ripple? Share your thoughts below! 


Images courtesy of Bitcoinist archives, Shutterstock, Twitter (@nic_carter).

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Emilio Janus

Emilio Janus

Related Posts

USDC and Abritrum

Circle Announces Launch of Native USDC on Arbitrum Network, Aims for Faster Transactions

7 days ago
Ripple xrp

XRP Jumps 10% As Ripple Returns 900 Million Tokens To Escrow

7 days ago
Circle

Circle And Arbitrum Launch Native USDC: What You Need To Know

1 week ago
XRP

XRP Community Voices Appreciation To Deaton For Defending Their Interests Against SEC

1 week ago
Ripple

Pro-XRP Lawyer Alleges Lack of Approval by SEC Ethics Office For Hinman’s Speech

1 week ago
Ripple

Pro-XRP Lawyer Offers Key Solution To Ripple’s Legal Woes Against SEC

2 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    1 week ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    1 week ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    1 week ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • AI Investment Goldmine: Discover the 4 Cryptos That Could...

    1 hour ago
  • XRP to Reach $1 While DigiToads Is Set to 100x

    2 hours ago
  • Polygon (MATIC) Debuts Billion-Dollar Gateway, Elevating...

    4 hours ago
  • Ethereum (ETH) Set to Outpace Bitcoin (BTC) in Market Cap...

    4 hours ago
  • Beyond Meme Tokens: Discover Sub-$1 Cryptos with Unleashed...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.