Ripple’s Chief Know-how Officer (CTO) David Schwartz gave his opinion on the continued debate out there concerning Bitcoin.
When Binance founder Changpeng “CZ” Chao and Peter Schiff, one in every of Bitcoin’s most vocal critics, engaged in a Bitcoin vs. Gold debate on the not too long ago concluded Binance Blockchain Week in Dubai, United Arab Emirates (UAE), it sparked a response throughout the cryptocurrency group.
The dialogue reached its climax when Mr. Zhao pulled out a gold bar and requested Mr. Schiff to substantiate whether or not it was actual. Mr. Schiff answered within the adverse, “I do not know,” as a result of he couldn’t confirm it with out further instruments.
The London Bullion Market Affiliation agrees that fireside evaluation is the one technique to verify gold with 100% certainty.
Chao seized the chance to push the purpose that Bitcoin transactions can be immediately verified on the blockchain, however gold nonetheless struggles with primary authentication.
Consumer X, who participated in a dialogue sparked by this explicit incident, requested how lengthy it takes to clone a Bitcoin. “I am going to make a brand new one precisely the identical. How a lot will it value?” Consumer X requested.
Why can there be each one thing new and one thing precisely the identical? And the way does the existence of replicas of Bitcoin have an effect on Bitcoin?
— David ‘JoelKatz’ Schwartz (@JoelKatz) December 5, 2025
Shaking this assumption apart, Schwartz requested, “How can one thing new be precisely the identical? And the way does the existence of replicas of Bitcoin have an effect on Bitcoin?”
1BTC = 1BTC
The slogan “BTC = 1 BTC” stays a well-liked phrase within the crypto market.
“1 BTC = 1 BTC” fixes the idea that Bitcoin loses its worth when its worth falls. Nonetheless, this worth discount solely takes place in relation to fiat currencies. In actuality, 1 Bitcoin continues to be equal to 1 Bitcoin.
Contemplating there are solely 21 million Bitcoins (BTC) mined in complete, this negates the hypothesis of a Bitcoin duplicate. The mounted provide of Bitcoin means there are solely 21 million cash in circulation. On the time of writing, the whole provide of Bitcoin is nineteen,957,806 BTC, with 1,042,194 cash but to be mined out of a set provide of 21 million.
