My Thoughts On Ripple & XRP

Avoid this cryptocurrency

My PO Box:
Andrei Jikh
4132 S. Rainbow Blvd # 270
Las Vegas, NV 89103

The future of the crypto industry is partially riding on what’s happening to a relatively small project that you may or may not have heard of by the name of Ripple. Currently the project is worth 43 billion dollars, a finite supply of 100 billion coins with each coin currently worth around 94 cents at the time of making this video - the peak this year was around $4 which is pretty crazy.

DISCLOSURE:

I own 3,680 XRP tokens that I bought in 2017, the price has nearly tripled since then.

What is XRP?

XRP has consistently been in the top 10 coins since it launched in 2012 and since the beginning of time it’s been compared to Bitcoin as a currency. Each XRP transaction takes anywhere between 3 to 5 seconds to settle - that’s in comparison to Bitcoin’s roughly 10 minutes, each transaction costs .0002 or 2 ten thousandths of a penny so it’s almost free to use unlike Bitcoin which can cost upwards of $50 sometimes per transaction, it can scale up to 1,500 transactions per second in comparison to Bitcoin which currently does 3. And on top of all that, it’s environmentally friendly.

WHAT IS IT FOR?

It's not like Bitcoin or Ethereum. The closest comparison is a technology called SWIFT which is used for banks to transfer money. Swift handles something like $6 trillion dollars a day and you can think of it like iMessage for banks - which uses code that contains details about where a payment might be coming from, how much it’s for and where it’s going. In 2018 alone, half of all the high value transactions that were made were made with Swift.The legacy banking system is slow, clunky, and expensive. Ripple is trying to change that with their technology.

WHY IS XRP THE FUTURE?

There has always been a gray area from our government to figure out how to classify crypto whether cryptos are securities or if they are commodities. The SEC has accused Ripple of creating an unregistered security. Here is the difference between securities and commodities using the “Howey Test” which helps us figure that out by asking 4 simple things.

1. Is it an investment of money?
2. Is it in a common enterprise?
3. Does it come with the expectation of profit?
4. And does this profit come from the effort of other people.

If yes, then it’s considered a security. Securities are regulated much more strictly than commodities by the Securities Exchange Commission (SEC). If XRP gets classified as a security, the crypto markets would substantially fall because this would affect a lot of the speculative investments people are making today.

WHERE DOES XRP COME INTO PLAY?

It doesn't. It was created to provide liquidity to the banks to use a standardized currency without the worry of foreign exchange rates. The currency does not depend on the technology that Ripple has created. In other words, you can use any currency (crypto or otherwise) and still use their tech.

WOULD I BUY XRP TODAY?

I would not. This is because XRP is a "pseudo crypto". Even though it has the hallmark pillars of decentralizations like nodes, users, businesses, and developers - it lacks miners. The consensus model of XRP is based purely on what Ripple wants it to be which is why they approve the UNL (unique node list). In my personal opinion, Ripple is centralized.

I believe Ripple's XRP had the intention of becoming more. Since it never found widespread adoption from central banks, XRP became a funding mechanism for Ripple's (the company) projects. This means the XRP token could go to $0 and Ripple Labs could still go public and thrive with an incredible technology that was funded from the greed of speculative investors.

*None of this is meant to be construed as investment advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

[ComancheTippie]

False. Please do research before posting faux data.

The XRP Ledger uses a consensus protocol that relies on a majority of validators to record and verify transactions without incentivizing any one party. The XRP Ledger is based on an inherently decentralized, democratic, consensus mechanism—which no one party can control. Not ripple not the owners.

[iamnolting]

For someone with 1.5 million followers you really dropped the ball on this one do some more research sir

[stephenlomas]

That was a waste of time.

"People are still going to defend XRP in the comments" Yeah probably because you act like an expert, but you're just talking out of your arse about something you clearly don't understand

[LindeyGlenn]

Wow. Please do your research more before a video like this. Sounds like you are just repeating what you have heard Bitcoin maximalists regurgitate on Twitter. People are going to miss the opportunity of a lifetime listening to this FUD news.

[crypticcomputing]

Avoid XRP?
Ok, you're officially a lunatic.

Or!
Sorry...
Yes, avoid. If you want to carry on with the same employee life.

[TheDiamond]

The lack of research this fool has done is mind boggling.

[glenpascoe]

Xrp is decentralised and has many use cases outside of what Ripple is doing. This guy really needs to do some proper research.

[spiderbip]

This is like making a video in 1999 about Google being a scam

[evanscritchfield]

Imagine my surprise. A “Crypto YouTuber” that doesn’t know what he’s talking about.

[ManPursueExcellence]

6:23 XRP and the XRP Ledger is decentralized. Ripple only runs (controls) 1-2% of the nodes. They don’t have a majority vote and by this small ownership, they do not control the network. Each validator has their own Unique Node List (UNL). Ripple has their own UNL. The other validators have their own UNL. I said this part to debunk the false allegation that Ripple picks and chooses the validators.

Also, the SEC is not performing well in their case against Ripple. You would know that if you actually listened to each court hearing, read the transcripts, and listened to other lawyers give their assessments of the situation.

You might as well trash this video.

*Edit: Don’t trash this video. The XRP army is providing quality education here to make up for your misunderstandings.*

[stevieb]

Wow, this was very uninformative.

I like how you hold up the logo of Ripple the company and then proceed to discuss XRP the currency lol.

100% xrp bags and growing. Enjoy the other scam coins. 😂👌

[GMad-scuk]

A year has passed…. It’s time for an updated video on XRP and Ripple…

[jakegraham]

I can't wait for the "i was wrong about xrp!" video.

[PedroCarvalho-qbrr]

A guy that shills DOGE on a weekly basis, is trying (failing miserably) to argue XRP fundamentals. Cant make this s up..

[scottconstans]

You have THIS MANY viewers and apparently did no

[samnicoy]

Comparing the actual performance of the two, Ripple is the better blockchain. Not only are XRP transactions faster and cheaper, but they can scale much more than Ethereum.

[odainejames]

“Xrp has nothing to do with Ripples amazing technology” Umm sirrr... Xrp is the technology. Please stop talking about things you’re not informed on. I’ll be waiting on your follow up video on this. Respectfully.

[salvadorgomez]

After watching this video I just have one questions: how come you have so many subscribers?

[billy-mason]

I guess he didn't realize he's messing with the XRP army. I considered him to be a very informed person, but that has changed dramatically. I suspect this will not be the last time he will hear from the Army. Oh dear, lol.

[moontherapist]

I'm so glad I didn't listen to you regarding BlockFi.