“The U.S. administration is interested in pitting Ripple’s centralized XRP token against Bitcoin to tackle China’s crypto dominance,” is the opening salvo of an article appearing in NewsBTC three day ago.
And “China’s Bitcoin Dominance Is Worrying Trump’s White House — And Pushing It Toward Ripple,” was the title of another (contributor) article appearing on Forbes the same day.
It wasn’t long before social media – particularly Twitter – began to relay the baton, with one tweet referring to a potential Crypto Cold War in the making.
— BeInCrypto (@beincrypto) October 17, 2018
What some failed to notice, however, was that the story is a complete fabrication from beginning to end. Whether designed as clickbait or the result of lazy journalism – most likely both – the story was derived from an original article appearing in Breaker magazine, a crypto-dedicated online newsmag, which ran an interview with Cory Johnson, Ripple’s chief market strategist.
Over the course of that interview, Johnson produced the following comment: “The White House in particular seems to be thinking about what it means to have 80 percent of bitcoin mining taking place in China and a majority of Ether 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 in conversations we’ve had with the administration, they seem to get that and think that might matter.”
There may be a looming trade war between the US and China, but there is no evidence whatsoever that the head-to-head between Ripple and Bitcoin will serve as a crypto proxy for wider geopolitical tensions between the US and China. There is plenty of evidence, on the other hand, that loose commentary continues to serve as grist for the mill in the world of clickbait journalism.