XRP is a SCAM! (Ripple's Secret)

In this video I breakdown all the facts of why I believe XRP and it's parent company Ripple is a scam.

The Facts: 0:00
My Personal Opinion: 07:15

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#xrp #ripple #crypto

[NemesisElite]

xrp is a true scam from 2012
JUNE 2017 : XRP 0.32$
HUNE 2022 : XRP 0.31$

[iandemontfort]

You have valid points. I'm invested in XRP but it doesn't hurt to listen to what you'd prefer not to hear. Thank you. Appreciated

[clintonvanhorn]

Would you characterize ETH as decentralized?

[JG-fhuj]

Could you please explain how Xrp is centralized?

[salmontail]

I'm not so sure this video is going to age well.

[manospheredefender]

There’s millions of ppl currently holding xrp. The higher ups would never allow that many ppl to become financially free over night. Get real

[pootranoncnbc]

Great info. Let's ignore those XRP victims coming to comment here with their half brains

[trustme]

So funny coming from someone in their bedroom. Nearly everything you said was wrong. You did a good job taking things out of context and/or only providing half of the information that suited your clickbait title.

[grahamk]

The XRPL is run and controlled by what's called Proof of Concept. Any changes or modifications to the XRPL has to be approved by 80% of all validators and unique nodes among the ledger. There are 150 or so validators and over 36 nodes on the network.
How many nodes does Ripple control? 6.

You have a very long road of research ahead of you, and I commend you for trying your best to grasp all that's happened in the last 10 years. But please spend as much of your time and effort to gather information from unbiased sources, and come back when you're more prepared.

[A_Western]

Yikes, should have done some research. These are all the FUD points that been disproven time and time again. Also there’s no such thing as “pre mined”. I think you mean minted which has a low cost of production compared to BTC.

[matthamilton]

Some comments on your video:

1) Clickbait title. Clearly, you are setting out your prejudices right from the off
2) Description: "XRP and it's parent company". XRP doesn't have a "parent company". You even state this in your video. So why make the false claim in the description?
3) American Express, Santander: They are customers of RippleNet. That doesn't mean they use XRP. Yes, they may have tried it. The Santander translation has mislead you, it states that payments via Ripple *are* instant, and that other transactions (ie not via Ripple) take 2 days
4) Diagram at 4:31 from Jason Bloomberg. States in his original document that the XRP Ledger is permissioned, and Ripple control it. This is false, and the basis of his entire article. The initial block "Issue worthless token". The tokens were issued in 2012, they had no value. All of crypto was "worthless" then as there was no market for it. Remember, XRP was only the second major cryptocurrency after Bitcoin, this was uncharted waters.
5) Pay partners to use technology. This happens in every market. It literally happens with Strike and Lightning right now too.
6) 5:28. "...cryptos are normally proof of work or proof of stake". Again, you are messing with history here. XRP was only the *second* blockchain after Bitcoin. Proof of stake didn't exist at the time. The XRP Ledger was created specifically *not* to use PoW as it is an energy problem (and the creators of XRP turned out to be right about that).
7) 5:50 "those that are mining XRP are donating to Ripple, as they have the most coins". Nonsense. They are not donating anything. Anyone can run a node, you don't need to have any XRP.
8) 6:10 "If [Ripple] lose the case [against the SEC], it will be disastrous for XRP and the XRP community". The case is looking pretty good for Ripple. As you say though, no-one knows the ending yet. But if Ripple do lose, this impacts not just XRP but every single other cryptocurrency out there (including BTC).
9) 6:30 Yes, shady stuff happened at Mt Gox. McCaleb is no longer a part of Ripple or the XRP ecosystem, and has not been for a long time. There has been shady stuff on all crypto. Go look at Bitcoin, silk road, etc.
10) 7:30 "Ripple massively dump the coins onto the market". No. They don't. They even publish their quarterly markets reports so you can see this. Ripple sell very little onto the market. They make most of their money by loaning out XRP to customers (their Line of Credit and ODL products).
12) 7:49: "By buying XRP you are buying into manipulation and broken promises". There is nothing to back up that claim.

So overall a lot wrong, both in your "facts" and "opinions". But probably the biggest issue is that you have completely overlooked the entire rest of the XRP ecosystem. Ripple is just one player in the market. Look at what Coil are doing with web monetisation, look at what XRPL Labs are doing with peer to peer payments. Look at the masses of NFT projects that have grown up around the XRP Ledger and the upcoming XLS-20 standard.

[fullmetal]

It is very interesting what you say, but still, looking into how everything is developing, everything indicates that XRP will be something big. XRP is one of my 6 favorite tokens. Even if it ends up being a scam, I have my other 5 tokens. I will still buy XRP 🤗

[sethgecko]

I like XRP and Dash! Hope the best for all!

[TonyTX]

Jeds Taco Stand wallet is terminated...he no longer has any xrp

[vashawnblackman]

So what happens if Ripple wins the lawsuit? You didn't cover that

[amendex]

Consesys and the Ethereum Foundation is way shadier than Ripple is any day of the week.

[executiveproducer]

Xrp is being used to build Ripple, xrp is a security of Ripple but Ripple is working alongside the SEC to get rid of xrp holders. For the record, I was an xrp holder for 5 years, longer than any idiot that may respond thinking they know more than me.

Xrp is not a security of the xrpl, but Ripple sold xrp to build Ripple, xrp holders should own shares of Ripple. Ripple uses the excuse that the xrpl was built out before the sale of any xrp so it cant be a security.

Xrp is not a share of the xrpl but Ripple was built 100% by the liquidity provided by xrp holders, in the end xrp holders that spent years advertising for Ripple for free and squashing fud every chance they got will get nothing as planned.

This is the biggest scam ever but it has been sanctioned by the government. Xrp is a psyop like qanon.

[gadia]

If this took you a lot of done with okay. I agree.... I will continue buying xrp until it goes to the moon or zero.

[aaronlafuente]

You should tell this to xrpvale he would love it.

[FettyLord]

I only feel like xrp a scam. Because. It's ripple coin. Renamed . And it's xRp. Ripple... But people keep saying it's not. So. That's and most people living on the fact it's cheap. And a lot of people could come up rich