In a 2021 deposition for the SEC v. Ripple lawsuit, Ripple CTO David Schwartz speculated that Satoshi Nakamoto, the pseudonymous creator of Bitcoin, likely possessed a significant amount of XRP in 2017. During the deposition, Schwartz asserted that while Ripple focused on developing a payment system around XRP, no equivalent effort was made for Bitcoin (BTC).
He noted that Ripple’s control over XRP provided a strategic advantage over its competitors. When questioned about how Ripple’s control over XRP distinguished it from Bitcoin, Schwartz acknowledged the challenge of tracking Bitcoin’s distribution but suggested that Satoshi held a substantial amount of XRP at the time.
Speculations On Schwartz’s Identity
Schwartz’s assertion has reignited speculations about whether he could be Satoshi Nakamoto himself. Over the years, various events have fueled this speculation. Schwartz’s involvement in developing the XRP Ledger (XRPL) coincided with Satoshi Nakamoto’s exit from Bitcoin.
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In 2011, the year Nakamoto announced his departure, Schwartz also expressed interest in exploring new ventures. Schwartz, alongside Arthur Britto and Jed McCaleb, initiated the development of XRPL, which Ripple later adopted as its blockchain solution upon its launch in 2012.
Comparison And Coincidences
Interestingly, Satoshi Nakamoto had previously commended Ripple for constructing a robust system that avoided excessive centralization, although his praise was aimed at Ryan Fugger’s original 2004 concept of Ripple. Moreover, Nakamoto released a pre-release version of the Bitcoin code on November 16, 2009, coincidentally Schwartz’s birthday.
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These events have sparked speculation about a link between Schwartz and Nakamoto, but no concrete evidence supports this theory. Schwartz’s comments on Nakamoto’s XRP holdings fuel speculation, but it’s uncertain if Schwartz is actually the elusive creator of Bitcoin.
Their activities and interests show intriguing parallels, but there is no definitive proof linking Schwartz to Nakamoto. As discussions persist, the mystery around Satoshi Nakamoto and potential ties to figures like David Schwartz remains a lasting topic in the cryptocurrency community.
