Buy Bitcoin BTC and NOT Ripple XRP!

00:02 hey everyone this video is about Bitcoin 00:04 versus Ripple xrp xrp is a sort of a 00:09 crypto token that's issued by Ripple 00:12 Labs so I posted on Facebook in sometime 00:15 in the last few days that uh when the 00:17 tide comes in which is Bitcoin that the 00:19 trash floats to the top which is 00:21 Dogecoin uh Sheba an new and I threw in 00:24 their xrp uh Ripple xrp and someone 00:28 commented that hey wait a second that 00:30 not trash it has a real world use case 00:33 um so I wanted to address that and the 00:34 first thing I'll say is um one I know 00:37 not that much about Ripple xrp Etc I 00:40 have not done the research uh because 00:43 the whole thing seems like a scam to me 00:45 and when all my scam radar goes off it 00:47 just doesn't seem like it's worth a huge 00:49 amount of time um but um I'm going to 00:51 address what if it is a scam and then 00:53 what if it isn't a scam so um and for 00:55 anybody who is a fan of Ripple or xrp um 00:59 I would welcome you to please do a 01:01 Facebook live video send me the link or 01:03 do a long voice note on Facebook 01:05 messenger and send it my way or if 01:07 you've got some links uh you can send me 01:09 that would be helpful I would love to 01:10 hear them so this video is my opinion 01:13 but it's also an open invitation for 01:15 anyone who wants to defend Ripple and 01:17 xrp to please send me stuff that 01:20 attempts to prove me wrong because I 01:22 love reading stuff that attempts to 01:23 prove me wrong so Ripple and xrp what is 01:26 it well it's a crypto token that's 01:28 intended to uh compete with the Swift uh 01:32 and fedwire banking networks for 01:34 crossborder payments now the first red 01:37 flag is the founding team behind it were 01:40 behind uh Mount goau before they sold it 01:43 uh Mt goau was the cryptocurrency 01:45 exchange that blew up in 2014 and lost 01:48 like 850,000 Bitcoin like it was a huge 01:51 deal anyway well um some of the same key 01:54 figures I believe are the same key 01:56 figures in uh Ripple xrp and rather than 02:00 the fair distribution Network that 02:02 Bitcoin has where every single Bitcoin 02:05 has to be mined by the use of real world 02:07 electricity and computing power Ripple 02:09 is set up where there's a 100 billion of 02:11 them and I think there's something like 02:14 57 uh billion uh in circulation and they 02:17 have another like 43 billion in escrow 02:20 and all this sort of stuff but it's 02:22 super murky um so the first question is 02:25 well how much are in circulation and as 02:27 compared to how much are not in 02:28 circulation so with Bitcoin 02:31 uh 94% of all the Bitcoin that will ever 02:33 be it might be close to 95% right now 02:35 but I'll say 94% of all the Bitcoin that 02:37 will ever exist have already been mined 02:39 they are already in circulation and the 02:41 remainder will roll out between now and 02:43 2140 which is 116 years so we know with 02:47 Bitcoin at every single point in time 02:50 exactly how much Bitcoin there is right 02:51 now exactly how more Bitcoin will be 02:54 released into the marketplace and every 02:57 single Bitcoin is backed by an amount of 02:59 computation 03:01 uh computing power and electricity uh in 03:03 the ballpark of the value of the Bitcoin 03:05 at the time it was mined that is the 03:08 what's called um uh irrefutable 03:11 costliness or unforgeable costliness 03:14 meaning you know that every Bitcoin is 03:16 backed by electricity and computing 03:17 power that is not the same with ripple 03:19 and x xrp a huge amount of it is stored 03:22 in escrow and the escrow was supposed to 03:24 be released by 2025 but then they bumped 03:26 it to 2027 and basically it's super 03:29 murky on when does this Ripple get 03:32 dumped in the market and how who owns 03:34 what and how and where and all this sort 03:36 of stuff anyway it's just all the alarm 03:38 bells of a massive Mega scam uh go off 03:41 in my mind similar to Tera Luna which 03:44 blew up last year and wiped out $60 03:47 billion and you know there's been a 03:48 bunch of them a bunch of scams same with 03:50 FTX Etc so it just it it it smells like 03:53 looks like and feels like something that 03:55 doesn't feel right to me so uh so that's 03:57 the first big red flag is that a bunch 03:59 of the ripples is owned by uh Ripple 04:02 Labs uh a bunch more of the Ripple uh 04:05 the xrp token is owned is controlled by 04:08 Ripple labs and the monetary policy if 04:10 there even was such a thing with regard 04:12 to Ripple is basically trust me bro uh 04:15 and the problem is trust me bro is uh a 04:18 horrible monetary policy when you just 04:20 have no idea how much xrp is going to be 04:23 in circulation how it's going to end up 04:25 in circulation and basically how your 04:27 xrp is going to get diluted by all the 04:30 other xrp and I just think that uh you 04:33 know one of the original Founders 04:35 already dumped all of his xrp and walked 04:37 away it's just the whole thing's a mess 04:39 okay so it it looks like smells like 04:41 feels like a scam coin that's going to 04:44 end up in a rug pole and a rug pole is 04:45 basically when the whole thing collapses 04:48 and the original founding team who 04:50 reserved a bunch of the Bitcoin or not 04:52 Bitcoin but xrp for themselves basically 04:55 walks away rich and you get screwed so 04:57 it looks like feels like and all of 04:59 those things but again if you have 05:01 evidence to the contrary please send it 05:03 my way but okay so let's assume it's not 05:06 a scam let's assume that the people who 05:08 are in favor of xrp actually that it's 05:12 got a legitimate use value okay even if 05:15 it does the question is why on Earth 05:17 would you invest in it and here's the 05:19 logic this is a problem that is shared 05:21 by every utility token which is a 05:23 utility token unlike Bitcoin which 05:26 stores value which means as it gets more 05:28 expensive it actually does it job better 05:31 unlike Bitcoin which gets better at 05:33 doing its job the more expensive it gets 05:35 and therefore there's an incentive for 05:37 the price to rise a utility token is the 05:39 opposite there's an incentive for the 05:41 price to go down or for people to switch 05:44 to a different technology so there's no 05:46 benefit with the utility token of the 05:49 token itself being expensive and as as 05:53 the token gets more expensive people 05:55 move to other platforms because that is 05:57 the economic incentive so for example 05:59 every everybody thought ethereum was the 06:02 next big thing and I dumped all the 06:04 ethereum I owned back in 2021 back in 06:07 either March or April of 2021 so three 06:10 and a half years ago 3.5 years ago I 06:13 sold what little ethereum I had because 06:15 I came to the same conclusion three and 06:17 A2 years ago so this is the conclusion I 06:19 came to three and a half years ago that 06:20 apparently other people have still not 06:22 come to which is wait uh if ethereum 06:25 becomes successful which it started to 06:27 be then ethereum will get more expensive 06:30 which happened at which point it will 06:32 not be affordable to transact on the 06:34 ethereum network which happened at which 06:37 point people will switch to another uh 06:39 platform which happened at which point 06:42 the price of ethereum as compared to 06:44 bitcoin will be way lower which also 06:46 happened okay so all of that happened 06:49 and people switched over to salana uh 06:51 mostly salana and Tron and Eland and a 06:55 bunch of other platforms okay so I just 06:58 don't understand why the same would not 07:01 happen in the case of xrp uh there's no 07:04 benefit to the Token as a utility token 07:07 being expensive in fact there's a 07:08 massive disincentive for it to be 07:10 expensive which means if the price of 07:13 the token is going up I don't think it's 07:14 going up because the network is becoming 07:16 more useful I think it's going up 07:18 because people are speculating on it 07:20 because they don't understand which is 07:21 the same reason that the price of Sheba 07:23 Anu goes up or the price of Dogecoin 07:26 goes up or the price of Floy goes up or 07:29 the the price of dog with hat goes up 07:32 they're all joke tokens and even the 07:35 utility tokens again if they have value 07:37 people will switch so if whale oil 07:40 becomes too expensive people will switch 07:42 to kerosene which they did if kerosene 07:44 becomes too expensive they'll switch to 07:46 electricity which they did if generating 07:49 electricity expensive ways becomes more 07:51 you know too costly they'll find less 07:53 expensive ways so the same is true with 07:54 xrp I just I don't understand what 07:57 benefit the expense of the token is or 07:60 why people would not switch so if the 08:02 token goes up in value it means it is 08:05 more costly to use the network and if 08:07 it's more costly to use the network why 08:09 would you not switch to a less expensive 08:11 Network so let's try to think of some 08:13 real world examples what if using Google 08:16 required a Google token and everybody 08:18 started basically uh you know everybody 08:21 started uh buying Google tokens CU 08:23 they're like look in the future 08:25 everybody's going to be using Google 08:26 with a Google token well the the short 08:28 take is no they're not they're going to 08:29 switch to a search engine that's free so 08:31 if if alav Vista or asjes or Yahoo or 08:36 Google had become more expensive to use 08:38 with time people would have switched to 08:40 a different search engine the same with 08:42 social media if each social media 08:44 required a token to use and that token 08:47 became more and more expensive over time 08:49 people would not use it anymore same 08:51 with Chuck-E-Cheese and with a arcade if 08:55 somebody said hey let's start buying up 08:57 arcade tokens because the tokens are 08:59 getting more expensive by the day and 09:01 we're positive everybody's going to play 09:03 video games at the arcade for $100 you 09:05 know per race the answer is no they're 09:08 not they're going to go to a different 09:09 arcade like there's no benefit to the 09:12 Token being expensive other than as an 09:15 incentive for people to switch to a less 09:17 costly Network so that is my prediction 09:20 of what will happen with xrp and I just 09:22 have never met anybody who has an answer 09:24 to that question I have posed that 09:26 question to people who own ethereum as 09:29 an investment I've posed that question 09:31 to people who own salana as an 09:32 investment and I've posed that question 09:34 to people who own xrp uh from Ripple 09:37 Labs as uh uh as an investment and I've 09:40 said well look I get it if you if you 09:42 plan to use their Network use the 09:45 utility of their Network then I can see 09:47 why you would own the token to use the 09:49 utility but none of these people are 09:51 planning to use the utility of the 09:52 network they're all planning on the 09:54 price going up with the belief that 09:56 someone else somewhere will use the 09:58 utility of the network now the the the 10:01 the the beauty of Bitcoin is that when 10:03 you own Bitcoin you own Bitcoin even if 10:05 you own a Bitcoin ETF you are leveraging 10:09 the store of value properties of Bitcoin 10:12 because every single share of a Bitcoin 10:13 ETF represents a fractional sh piece of 10:17 a Bitcoin like one for one 100% so 10:20 anytime you own any form of Bitcoin 10:23 whether it's a Bitcoin ETF or the real 10:25 thing in the palm of your hands in a bit 10:27 key uh storage device you are using 10:29 using the store of value properties of 10:31 Bitcoin but xrp and salana and ethereum 10:36 are not intended to be a store a value 10:38 technology they are a utility platform 10:40 technology which means they're not 10:42 supposed to store value which means 10:44 buying their their 10:45 token as a way as an investment just 10:49 makes no sense to me again unless you 10:51 intend to use their token for whatever 10:53 it's intended purpose was and I can 10:55 promise you none of the people I know 10:57 who own xrp are planning to to do crossb 11:01 uh remittances and need the xrp token to 11:03 do that that is not why they own it they 11:05 own it as an investment so that would be 11:07 the question I would present to anyone 11:09 including anyone watching this video who 11:11 owns xrp or salana or ethereum which is 11:14 why would you own that as an investment 11:17 if the thesis of the investment gets 11:20 worse the more popular it begins if the 11:23 token price goes up the cost to transact 11:26 on that Network goes up and the 11:28 incentive to switch to a different 11:29 networ work goes up thereby making your 11:32 investment go down it's it's it's the um 11:36 you know it's it's a classic case of 11:38 something that you know there's there's 11:39 certain assets that get better at doing 11:41 their job the higher their cost so for 11:44 example luxury goods the more expensive 11:46 a Rolex is the better it communicates to 11:48 the world that you're rich which I don't 11:50 wear a Rolex and I never will but the 11:52 point is cost is an asset but for the 11:55 vast majority and same with Bitcoin the 11:57 more the more expensive Bitcoin is is 11:60 the better it stores value and therefore 12:02 more people adopt it and therefore it 12:04 goes up in value it gets better with 12:07 price utility tokens do not work that 12:09 way they get worse with price and the 12:11 incentive to switch to a different 12:12 network goes up um and and again I just 12:16 don't know why these networks wouldn't 12:18 eventually Trend towards zero Because 12:20 the actual cost to run these networks is 12:22 almost zero and so why would the utility 12:24 token that runs the network increase in 12:27 value so if anybody has a question has 12:29 an answer to that question let me know 12:31 if you have articles I need to read let 12:33 me know if you have specific podcast 12:36 episodes that answer that question 12:38 please send them to me because nobody 12:40 seems to have those things at least 12:41 nobody I've been able to talk to or find 12:44 and I would love to know someone again 12:46 who owns xrp or salana or ethereum I 12:50 would love to know what your investment 12:51 thesis is and why you think the token 12:54 will become more why you think people 12:56 will not just switch to a different 12:57 platform as the token gets more 12:59 expensive because these are not sticky 13:01 platforms it's not like once you're 13:03 invested in one platform you can't I 13:05 mean all of these platforms you can just 13:07 switch there's there's not a high 13:09 switching cost as compared to bitcoin 13:11 which is there's a very high switching 13:12 cost because nothing you know 13:14 replicating Bitcoin security model and 13:15 all that is basically completely 13:17 impossible um replicating a token like 13:21 uh salana or ethereum or xrp is just not 13:25 hard there's like a bunch of them uh 13:28 those are the most common uh recent ones 13:30 but there's a bunch of other ones 13:31 there's Tron there's I mean there's just 13:33 a bunch of them so I just don't I just 13:35 don't understand the investment thesis 13:37 and I get the impression when I talk to 13:39 people who own those assets that they 13:41 don't seem to have a well I have not 13:45 heard any of them articulate a coherent 13:47 investment thesis for why they own the 13:49 asset and why it will increase in value 13:52 other than just pure speculation and 13:55 Heck if you're speculating well okay but 13:57 I would never speculate like spec 13:60 speculating is a bad investment approach 14:04 the correct investment approach is to 14:07 come up with a deep conviction on a 14:09 technology or a value proposition 14:12 thoroughly research that build a deep 14:14 conviction in that value proposition or 14:16 that thesis and then invest accordingly 14:20 which is what I do which is why I Own 14:22 100% Bitcoin and I do not own any other 14:25 crypto or any other smart contract 14:26 platform or any of these other things 14:28 because I there's just I don't have any 14:30 conviction that any of those are a good 14:32 investment for all the reasons I've said 14:34 so if you uh do have a conviction I 14:38 would love to hear it send it my way I 14:40 like to I like to think I'm open-minded 14:42 and I will certainly read or listen to 14:44 any resources you send my way that would 14:47 attempt to disprove my thesis that you 14:49 should invest exclusively in Bitcoin and 14:52 not in Ripple xrp or in salana or in 14:56 ethereum or any of those other coins 14:58 hope it helps send me resources if you 14:60 disagree I promise to read or listen to 15:03 any resources you send me that disagree 15:05 with my point of view and I would be 15:06 honored to do that thanks