Ripple CEO Criticizes Bitcoin Tribalism, Understand Crypto Market Tribes

Charlie Taylor

Ripple CEO Brad Garlinghouse said the “tribalism” of crypto enthusiasts, including bitcoin, is detrimental to the broader crypto landscape. The market capitalization of cryptocurrencies is currently at 2 trillion dollars, but the entire industry is seeing slower growth due to enthusiast tribalism. So says Brad Garlinghouse, CEO of Ripple, the company that develops the XRP token. Garlinghouse admitted in an interview with CNBC that he owns bitcoin, ethereum and several other cryptocurrencies, and said he believes there is room for several different solutions to be successful. However, there are so-called maximalists in the cryptocurrency market, those who see success in just one project. The most vocal are Bitcoin maximalists, largely because of the network effect and the development of second layers that can absorb technologies from alternative cryptocurrencies to it. Some relevant names like Jack Dorsey, former CEO of Twitter, Michael Saylor, CEO of MicroStrategy and Adam Back, CEO of Blockstream, are Bitcoin maximalists. But this is not unique to Bitcoin, many cryptocurrencies have their own tribes and can be quite intolerant of new ideas or criticism. For Garlinghouse, maximalism has been harmful even when it comes to lobbying legislators in Washington, a legal practice in the US. According to him, there is a shocking lack of coordination on the part of crypto market entrepreneurs. It is worth remembering that Ripple has been facing a lawsuit from the US Securities and Exchange Commission (SEC) since December 2020. According to Garlinghouse, the process has gone better than expected for the company, he said, suggesting a possible Ripple win.

Intolerant minority rule

Although the CEO of Ripple welcomes the lack of coordination, after all it affects his venture indirectly, some find intolerance a way of survival. The tribalism of Bitcoin even justifies the investment thesis of some people, as a convinced minority can influence a majority in the future. The Brazilian investor and finance educator Bruno Perini commented on this on Twitter: “MINORITY RULE AND #bitcoin It is not the majorities who rule the world, but the intolerant, stubborn and noisy minorities. To better understand this, we first need to address philosopher Karl Popper’s idea of ​​the “Paradox of Tolerance”… Popper said that an environment of unlimited tolerance would lead to intolerance. It seems strange, but see that if everyone in this environment is tolerant and open to ideas, it is enough for an intolerant and persuasive person to appear for the tolerant majority to be converted to the new idea. An example of this can be seen in religions. Where are the polytheistic religions, which accepted the idea of ​​the existence of several gods, in the western world? They practically don’t exist anymore. Today we have only a few major religions that are intolerant of the idea of ​​new gods It was enough for a minority that does not change their minds to appear with the belief in the existence of a single god for the majority to be tolerant of new ideas (the Romans erected temples to unknown gods – temple to the “deo ignoto”) was converted over time. And what does this have to do with Bitcoin? In coins we can have something similar. We have a majority willing to listen to new ideas, especially in the face of distrust with the current big “impression” $$, and we have an intolerant minority that sees value in Bitcoin and doesn’t change their mind. And what does this have to do with Bitcoin? In coins we can have something similar. We have a majority willing to listen to new ideas, especially in the face of distrust with the current big “impression” $$, and we have an intolerant minority that sees value in Bitcoin and doesn’t change their mind. “Bruno, is this going to happen for sure?”. Of course not. Here I gave the example of the stubborn minority winner, when there is a whole graveyard of bigoted loser minorities that we never heard of. “Dead men tell no stories.” Pirates of the Caribbean. However, I think it’s worth having at least a little exposure to #Bitcoin considering that this path from a minority idea to converting the majority can happen. If I am wrong in this, I lose little; if I am right, I earn a lot (so far it has worked very well).” In the same way, some institutional investors such as Paul Tudor Jones and Stan Druckenmiller also allocated part of their assets in bitcoin after realizing a high conviction of the enthusiasts in bear markets, which brought security to their investment. However, tribalism can surface in enthusiasts in different ways, and toxicity is one of the most criticized. Below is an example of Bitcoin maximalist Max Keiser debating Peter Schiff, a gold advocate and critic of Bitcoin and cryptocurrencies. Now that you’ve noticed possible positives and negatives related to the tribalism of crypto enthusiasts, understand where you can fit in a quiz about the tribes of the crypto world: About bitcoin, do you believe it IS the only solution to all monetary problems , nothing compares It is part of one of the solutions, along with the other cryptocurrencies Bitcoin is outdated You are in the cryptocurrency market to Make quick profits To invest in the long term Create a revolution against the State To obtain cheap and fast transactions Which political position more like yours? Left Liberal Conservative Libertarian None How much do you care about environmental issues? Very Important, but not so much I don’t care I’m out of it You care more about Efficiency Privacy Profits Security Technology Are you in favor of regulating cryptocurrencies? Would you invest in dog coins and memes in the long run? Dogecoin, Shiba-Inu are meme-inspired coins that have been successful among many investors, would you buy them for a period of 5 years or more? Among these concepts, which one do you care more about? Freedom Anonymity Legality Easy Money None Of Them Or The Other Which Crypto Tribe Do You Belong To? Take the Quiz to Discover the Tribe of Bitcoin Maximalists

James Lopp with gun in hand

Bitcoin maximalists are often seen as the conservatives of the cryptocurrency market, generally championing freedom but without sudden changes and revolutions, everything is backwards compatible. Tribe of Naneiros

bitcoin environment

They care about the environment and/or efficiency, have a penchant for the best possible solutions, and are generally pragmatic. Monero Tribe

Total focus on privacy, anonymity and with a revolutionary anti-censorship, government and freedom spirit. The Monero tribe has only one purpose, maximum privacy and anonymity. Ethereum Tribe

vitalik and ethereum 2.0

Deconstructed, geek, open to infinite possibilities on the blockchain, extremely deconstructed. Those on Ethereum are usually up to date with the latest in the world of NFTs, ICOs and other ideas. Maximalist Tribe of Liberty


Anti-government and pro-technology that favor freedom no matter what. Cypherpunks like technology and freedom. XRP Tribe

brad ripple

Pro-establishment, they generally advocate regulation and efficiency in interbank transactions, but always with a hint of “decentralized ledger”. XRP Army was once stronger on social media, but it always has a presence in the community. meme tribe

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