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Market Musings

XRP is 'Toxic Waste' and Bitcoin Cash is a 'Pile of S***', Messari Report Says

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Published on:
December 10, 2020

Bitstamp, which sponsored the report, wasn't aware of the fruity language and was forced to apologize after sharing it on Twitter.

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A major crypto analytics company has described Litecoin, Bitcoin Cash and Bitcoin SV as “piles of s***” — labeling altcoins like XRP and Stellar as “toxic waste.”

The eyebrow-raising language appears in a Messari report outlining key crypto trends for 2021… and it has landed one crypto exchange in hot water.

Messari’s founder Ryan Selkis described BCH and BSV as “useless” — writing:

“Bitcoin Cash can’t stop infighting and forking, and it’s become a soap opera starring crypto’s formerly important people. BCH had its shot in 2017, but bumped into its ceiling, and now means nothing. You lose. Good day, sirs.”

Selkis was equally caustic about XRP and XLM — and was dismissive about the dramatic price rises that both cryptocurrencies saw in mid-November. “They go against everything that got me into crypto,” he wrote.

An Awkward Moment

Messari’s, er, expletive-laden report was sponsored by Bitstamp. The exchange shared the document on Twitter — but later apologized because it “contained language and content that does not reflect Bitstamp’s views or values,” adding:

“We did not complete a thorough enough review of the 130+ page report before it was published. This is on us, we should have done better.”

Selkis later said he regretted that Bitstamp were taking heat for his colorful language — and said he felt bad that their brands clashed and caused headaches. Yet he wasn’t apologetic for turning the air blue with his analysis, tweeting:

“Humor is the only thing that keeps people reading 134-page reports in a 280-character world.”

What’s Next for Bitcoin in 2021?

If you’d like to read some analysis containing language that’s suitable for all the family, we heartily recommend this Alexandria piece examining the future of cryptocurrency in 2021 and beyond.

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