XRP Don’t buy it

00:01 hey everyone this may be my last video 00:03 for today I don't know but I wanted to 00:04 send a quick or do a quick video about 00:07 uh some comments about xrp which I 00:10 consider to be borderline a scam token 00:12 but certainly not investment grade and 00:15 someone did uh would did the kind 00:17 courtesy of posting some thoughtful 00:18 comments on a video I did about xrp 00:20 which is by Ripple Labs r i p and I've 00:24 done multiple videos saying do not buy 00:25 Ripple it is not for you it's a bad 00:28 investment don't do it but I wanted to 00:30 resp respond to the person's comments 00:32 the first thing I'll say is thank you to 00:33 the individual who sent the comments 00:35 very few people are willing to have a 00:37 thoughtful discussion on Facebook mostly 00:39 it's just a dumpster fire of people 00:41 yelling at each other I try to make sure 00:43 that my Facebook page is never part of 00:44 that dumpster fire so I appreciate it 00:47 especially when I you know invite uh 00:49 feedback from people when somebody takes 00:50 me up on it and says sure here's some 00:52 thoughts so first thank you very much to 00:54 the person who posted some comments I 00:56 very much appreciate it all right so he 00:57 addresses my first criticism which is 00:59 why do you need the RP token if you 01:01 don't need to use the network he says 01:03 why do you need Visa stock if you don't 01:04 need it to use the network see here's 01:07 the problem here is a a deep 01:09 misunderstanding of what the xrp token 01:11 is so the xrp token is not stock in 01:13 Ripple Labs if somebody was investing in 01:16 Ripple labs and Venture Capital firms 01:18 have and high net worth individuals have 01:20 that makes sense if you invest in a 01:21 company that's helping people with 01:23 crossb payments and international 01:25 remittances and international money 01:27 settlement sure if you're investing in a 01:29 company by owning shares in that company 01:32 like investing in Visa or Amazon or 01:34 Ripple Labs that's great but that's not 01:36 what xrp is there are investors in 01:38 Ripple Labs but that is not you you have 01:41 to be an accredited investor with more 01:42 than a million dollars in liquid assets 01:44 other than your house and it's not open 01:47 to the public so there is zero people 01:49 watching this video who are investors in 01:51 Ripple Labs so they're invested in the 01:53 uh the xrp token that Ripple Labs issues 01:57 the problem is that's like investing in 01:58 the Visa token well isn't one because if 02:01 there was it would be worthless or the 02:02 Amazon token because there isn't one 02:04 because it would be worthless there is 02:06 no Amazon token and there is no Visa 02:08 token because there's no value in a Visa 02:11 token or an Amazon token you would have 02:13 the same problem which is look if you 02:16 invest in Ripple Labs you might make 02:17 money if you invest in Visa or Amazon 02:19 you might make money if you use the 02:21 services of Ripple Labs or Amazon or 02:24 VISA you know good for you it's a 02:27 utility the problem is if you invest in 02:29 the to to issued by those companies then 02:33 what is it then why does the token have 02:36 value I'm not questioning whether the 02:38 company has value but the token does not 02:40 represent ownership in the company the 02:41 token represents ownership in nothing it 02:44 represents ownership of one of 100 02:46 billion Ripple tokens the problem is 02:49 nobody's established why a ripple token 02:51 is valuable so uh I appreciated the sort 02:53 of coral lary there the problem is it 02:55 doesn't hold investing in companies is 02:57 good using companies for what they 02:59 intend to to do is good investing in a 03:02 token issued by a company is almost 03:05 always worthless which is what xrp is 03:07 anyway um he goes on to say if liquidity 03:10 is the game then utility of the 03:12 liquidity is everything insert bad acors 03:14 and yes a rug pull is imminent the 03:16 problem is xrp if you're looking for 03:18 liquidity you can get liquidity with US 03:21 dollar stable coins called usdc or 03:23 tether usdt with a t for tether uh usdc 03:26 is issued by uh by Circle which is 03:29 backed by Co base and usdt is issued by 03:32 tether which is an international company 03:34 so if you're doing International 03:35 remittances and payments and you need 03:37 liquidity that's pegged to the US dollar 03:39 you can get that um but that's not what 03:41 xrp is xrp is not a stable large pool of 03:45 liquidity it is an unstable small pool 03:48 of liquidity if you don't mind being un 03:50 UND you know detached from the US dollar 03:53 then there's way more liquidity in 03:54 Bitcoin so why wouldn't you use Bitcoin 03:56 instead of xrp so anyway they just I I 03:59 disagree with this so then he goes on to 04:00 talk about um I'm not going to read the 04:02 entire thing you can go dig up the 04:03 comments uh it's to the very first 04:05 Ripple xrp post I did if the comments 04:09 are on that so if you want to go read 04:11 them just uh you know dig up the very 04:13 first post I did on Ripple xrp and you 04:15 can read the comments yourself if I had 04:17 more time I was planning to read all of 04:18 the comments I just don't have time to 04:20 do that okay so then he goes on and 04:21 talks about how uh the xrp network might 04:24 be used and how somebody might convert 04:26 US dollars to xrp and J JPY uh the 04:29 Japanese currency he says for example if 04:32 big dog Bank in the USA sends uh $2 04:35 billion to a Japanese bank now the 04:37 conversion goes from US dollars in in 04:39 the xrp world it goes from US dollars to 04:42 xrp to Japanese Yen okay I can promise 04:44 you nobody nobody in the on the planet 04:48 is taking $2 billion of US Dollars 04:51 converting them into xrp and then 04:53 converting them to Japanese Yen not 04:56 happening zero zero chance now that 04:58 doesn't mean people aren't using xrp for 04:60 tiny little payments where if they lose 05:01 the money it doesn't matter nobody is 05:04 converting $2 billion into xrp I I mean 05:08 I would be on shocked if anyone ever 05:09 does that in the history of the world 05:11 because again you're assuming 05:13 something's bad's not going to happen in 05:15 that time period right in that 05:17 conversion and so if you're converting 05:18 to bitcoin well you're converting to the 05:20 most stable currency system in the world 05:22 xrp give me a break nobody's converting 05:23 2 billion doar into xrp all right so um 05:27 then he talks about incentives of if the 05:29 price is higher there's more liquidity 05:31 so you actually want the xrp token to be 05:33 higher in value but again if you're 05:35 looking for liquidity you can get that 05:36 in US dollar Peg stable coins usdc or 05:39 tether usdt or Bitcoin so I don't see 05:42 how I don't see how xrp would offer 05:46 better settlement guarantees or more 05:49 liquidity if you want more liquidity 05:51 than US dollar stable coins you can get 05:53 it um well you I mean you can get a 05:55 bunch of liquidity on US dollar stable 05:57 coins but you can get on bitcoin for $2 05:58 trillion the you know versus xrp like I 06:02 just I don't see again in any Universe 06:04 um the need to convert in and out of xrp 06:08 for large amounts of money they're just 06:09 not going to do it I just i' I'd be 06:10 shocked um let me see here 06:14 um all right next up is again I'm just 06:18 hitting the highlights here because I 06:19 just don't have the time to do more in 06:21 depth um he he talks about if a bank is 06:23 holding xrp for the long term I promise 06:25 you banks are not holding xrp for the 06:27 long term Banks won't even hold Bitcoin 06:30 for the long term I mean they don't even 06:33 think Bitcoin is stable enough yet to 06:35 hold for the long term now in time they 06:37 will but my gosh like Banks think 06:40 there's too much variability in the US 06:42 dollar because of international uh you 06:44 know trade uh in and out of 06:46 international currency so if they think 06:47 the US dollar you know if they're 06:50 concerned with stability of the US 06:51 dollars or US Treasury bonds they're 06:53 going to stick a bunch of money in xrp 06:55 zero no not going to happen Okay then he 06:57 talks about um if the you know 06:59 volatility is problem you can use RL USD 07:01 which is Ripple Labs USD which is their 07:03 own stable coin but again here's we're 07:05 back to the problem of if you want 07:06 stable liquidity you can get that with 07:08 the stable coin if a lot of people are 07:11 using uh a stable coin and they're using 07:14 Ripple stable coin well great Ripple 07:16 Labs is going to make a lot of money but 07:17 again xrp is not in an investment in 07:20 Ripple Labs xrp is an investment in 07:22 Ripple token so if everybody starts 07:25 using RL USD for international 07:27 settlements which they might they might 07:28 use tether they might use uh usdc they 07:31 might use RL USD which is the just a 07:33 stable coin similar to usdc or usdt but 07:36 again owning xrp the token doesn't give 07:40 you any stake in that I mean none 07:42 whatsoever so it just makes no sense to 07:44 own xrp because again if if what people 07:47 want is a stable coin they're going to 07:49 use the tether company stable coin the 07:51 company tether might make a bunch of 07:52 money but again you don't own that 07:54 because xrp does not represent any 07:56 ownership stake in the actual company uh 07:59 Ripple labs which is the issuer of that 08:01 stable coin so that's a problem there 08:04 okay the next up we have here um he 08:07 closes by saying there's also a valid 08:08 point on the surface of as to why all of 08:10 this sounds like a Ponzi scheme I would 08:12 say yes it does um okay next up give me 08:15 a second here good 08:17 afternoon um next up here we 08:21 have 08:23 um now Q the clue I'm going to read this 08:25 whole paragraph he says now Q in the 08:27 clueless Common Man aka me my main 08:30 objective in entering the xrp liquidity 08:32 pool is being the little man who gets to 08:33 provide and build with these huge 08:35 muscles the big rails in the crossborder 08:37 payment system again if that were the 08:40 case you need to be a shareholder in 08:41 Ripple Labs not xrp so I understand his 08:45 I understand the mindset here but the 08:46 problem is the mindset applies to being 08:48 a shareholder of Ripple Labs which this 08:50 individual is not they are an owner of 08:52 the xrp token but being an owner of the 08:54 xrp token does not let you be a 08:57 shareholder in Ripple labs um if 09:00 everybody's using xrp as their liquidity 09:02 pool well then yes you own a share of 09:04 that liquidity pool but again for all 09:06 the reasons I've said I see Zero reason 09:09 why xrp is going to be the liquidity 09:15 pool is going to be the liquidity pool 09:17 of choice for people I just I don't see 09:19 any Universe where xrp becomes the 09:21 liquidity pool of choice so could Ripple 09:23 Labs become very successful sure but 09:25 that has nothing to do with the xrp 09:27 token going up um again if there was a 09:29 Visa token and nobody could figure out 09:31 what it was or what it did then yeah it 09:33 might go up and down as people become 09:34 more excited or less excited about the 09:36 company Visa but at the end of the day 09:38 it's eventually going to go to zero if 09:39 it doesn't do anything um or if 09:41 something else does it better which is 09:43 the problem here which is uh the you 09:45 know R LUSD does a better job of 09:48 providing liquidity than xrp so does 09:51 usdt so does usdc so does Bitcoin like 09:54 all of those are better Technologies for 09:57 liquidity than xrp so again the guy goes 09:60 on though he says Will the Market 10:02 ultimately decide xrp's market cap $5 uh 10:06 uh per xrp $10 $70 yes but the little 10:09 guy's ability to not be an accredited 10:11 investor and still have the opportunity 10:13 to pursue big Bank operations sounds 10:15 like the American dream to me but I also 10:17 agree it's a buzzword solid Heaven um 10:20 again the problem here is if you could 10:22 invest in Ripple Labs as an unaccredited 10:26 investor and if all the big Banks were 10:28 using Ripple labs then the logic here 10:31 would be sound but again that's not 10:32 what's happening the big Banks and the 10:35 you know big-time silicon investors are 10:37 invested in Ripple labs and ripple Labs 10:39 just happens to have a token that random 10:41 people can invest in but the profits 10:43 don't go to the Token the profits go up 10:47 to Ripple labs and to their investors um 10:50 or they go to the utility of whoever's 10:52 using the network they do not go to the 10:54 xrp Token which is what people are 10:56 invested in so again the logic is kind 10:58 of sound that there could be value 10:59 creation the problem is the value 11:01 creation does not acre to the xrp Token 11:04 it ACR to Ripple labs and the xrp token 11:08 is not a share of Ripple Labs it's a 11:10 random coin that Ripple Labs just 11:12 happened to issue all right so let me 11:15 change uh switch Pages here my hair is 11:17 getting blown all over the place 11:20 um give me one second to fight through 11:25 my 11:27 paperwork all right we're back um all 11:32 right then he talks about the fact that 11:33 I said well the problem with RI with xrp 11:36 is 42% of it is controlled by Ripple 11:39 labs and if they dump $42 billion into 11:42 the market over the next 3 years that's 11:44 a huge problem because I just did a 11:45 video about liquidity and if the entire 11:48 market for xrp is represented by 58% of 11:51 the coins and then you show up and dump 11:53 48% more coins uh or 42% more coins into 11:57 the market that's going to tank the 11:59 price 11:60 um so he goes into the why uh they 12:02 haven't dumped them yet uh but again 12:04 this is a don't you know this is a trust 12:06 me bro problem where somebody's saying 12:08 look uh we probably won't do that uh the 12:12 the whole point of crypto though was to 12:14 get away from that was to get away from 12:15 do you know trust me just trust me bro 12:18 um so yeah there's a chance that they 12:20 won't dump all 40 you know 42 billion 12:23 xrp tokens into the market but why 12:26 wouldn't they they have no incentive not 12:27 to other than the fact that you know to 12:30 the degree that they're trying to make 12:31 money off everyone else it might tank 12:33 the price and then it makes it harder 12:34 for them to make money off everyone else 12:36 but anyway um he says they're 12:38 strategically spending about 200 to 300 12:41 million xrp per month but again they're 12:43 just making this stuff out of thin air 12:45 like they're just dumping Market you 12:46 know xrp tokens and every time they do 12:50 200 to 300 million they are sucking 400 12:54 to $600 million out of the marketplace 12:57 that is not accruing to the xrp Token 12:59 holder which again do not so who's 13:01 benefiting Ripple Labs not xrp all right 13:05 next up he says there's an ETF and an 13:07 ETP are being seated with funds uh so 13:10 yes some people are applying for ETFs uh 13:13 exchange traded funds with xrp just like 13:15 they did for ethereum everybody thought 13:16 it was going to be a huge deal for 13:18 ethereum and ethereum just kept going 13:20 down compared to bitcoin so the the 13:22 ethereum ETFs have not been a big deal 13:25 because you don't want to own them for 13:26 the reason you want to own Bitcoin ETFs 13:28 so so what there's you know if there 13:30 ever is an xrp ETF so what it's not 13:34 going to perform any better than the 13:35 ethereum ETF and that's been a sort of a 13:37 dud um all right next up it says at 13:40 their current spending rates it brings 13:41 them to about 2035 or after until their 13:44 escrow account is depleted the question 13:46 is why are you investing in a token 13:48 where somebody has 42% of the tokens 13:50 locked in an escrow account like the 13:53 whole point of cryptocurrency was that 13:55 you don't have to trust anybody not that 13:58 42% of the ply is Supply is uh locked in 14:01 a lock box that they pinky promise and 14:04 you know Boy Scouts Honor swear they're 14:06 not going to go raid I mean again I 14:08 would just never never never invest in 14:10 this all right next up he says uh he 14:12 addresses my my criticism that 14:14 Partnerships are another what buzzword 14:16 in empty promise he says I like your 14:17 perspective on this one being in Tech 14:19 and knowing the smoke screens that 14:20 Partnerships have I'm still encouraged 14:23 by the smaller xrp part partnership 14:24 tutorials that can be uh pleasing their 14:27 customers and doubling their growth like 14:29 the business ha uh it's s a s AI space 14:33 ha money ha HEI haha money I don't know 14:37 on their website uh he said I lack the 14:39 knowledge to dig much further so I 14:41 actually went and read the case study on 14:43 uh heha money and again they're like 14:46 thank you to Ripple labs for helping us 14:48 with crossb payments and you know Global 14:50 liquidity blah blah blah but again 14:52 nowhere did they mention why they needed 14:55 the xrp token to do this so does the 14:57 case study indicate that maybe Ripple 14:59 Labs is helping people sure so so is the 15:02 case study of any company but again that 15:05 doesn't mean the xrp token was necessary 15:07 to do that or that the price goes up or 15:09 that the xrp token needs to increase in 15:11 price for that case stady to happen so 15:13 what I'm waiting for which I could not 15:15 find on their website what I'm waiting 15:17 for is somebody to explain to me why do 15:19 you have to have the xrp token I 15:22 understand International remittances are 15:24 important I understand crossb payments 15:26 are important I understand that 15:27 interbank set or in interbank 15:30 settlements is important I just don't 15:32 understand why you need the xrp token to 15:34 do any of that so again that's like 15:36 somebody saying Joel you just don't 15:38 understand Visa it's a payment Network I 15:41 would say great but you don't need a 15:42 visa coin like you don't need a visa 15:44 coin to do Visa or Mastercard you don't 15:48 need a Amazon coin to do Amazon so 15:50 anytime you have a coin associated with 15:53 a company but nobody can really figure 15:55 out why you need the coin or why it's 15:57 valuable it eventually goes to zero go 15:59 go look at Miami coin if you think a you 16:01 know if you think a coin that's 16:03 associated with something that doesn't 16:05 really necessarily have value people can 16:07 put their finger on is a good idea go 16:09 look at Miami coin the uh Miami launched 16:12 their own coin the city of Miami and it 16:14 basically went to zero or good look at 16:16 the Satoshi Island coin basically went 16:19 to zero I it's just crazy um all right 16:22 uh next up here it says he thinks it 16:25 will vastly outperform ethereum and 16:26 Bitcoin on this bull run again don't 16:29 ever don't ever don't ever invest in 16:31 something because you think you're going 16:32 to it's going to outrun Bitcoin and then 16:34 you're going to get out before it 16:36 crashes uh that is the greater fool 16:38 Theory it's the time the market theory 16:40 it's the hey um you know somebody says 16:43 well hey the Bitcoin tide is coming in 16:45 but the trash is going to float vote F 16:47 you know float first I'm going to invest 16:49 in the trash but then I'm going to get 16:51 out before it crashes and everybody 16:53 realizes it's trash don't ever invest 16:55 that way don't ever invest in something 16:57 that does not have deep fundamentals 16:60 that you understand the reason I'm 17:02 invested in Bitcoin is because I 17:04 understand the fundamental value of 17:05 Bitcoin and I've talked about it a 17:06 million times on more than 200 videos 17:08 I've done on Facebook of what is the 17:10 fundamental value of Bitcoin why does 17:12 the world need Bitcoin how do people use 17:14 Bitcoin what is the real world 17:15 application of Bitcoin I've talked about 17:17 that on you know hundreds of videos now 17:19 but again don't ever ever ever invest in 17:22 something because you think it might go 17:24 up and then you might get out before it 17:26 crashes that is an absolute recipe for 17:29 losing money every time so um but again 17:33 uh you know you you you run into this 17:35 where people are like yeah but I think 17:36 so and so coin will go up faster than 17:38 Bitcoin it's like it might you know 17:41 styrofoam cups float first When the tide 17:43 comes in that doesn't mean they're not 17:44 trash like the tide is real water the 17:47 cyof foam cup is trashed it floats 17:49 faster than the other things that the 17:51 you know the tide will ultimately uh 17:53 lift all boats with Bitcoin you know all 17:56 like legitimate things companies and 17:58 everything like that the the fact that 17:59 the trash floats ahead of the boats 18:02 doesn't mean you should invest in the 18:04 trash it means you should invest in the 18:05 boats because they're real they're not 18:08 trash so my advice Remains the Same do 18:10 not invest in xrp which is by Ripple 18:13 Labs um again I'm not saying the 18:16 investors of Ripple Labs won't get rich 18:18 but people who own xrp are not investors 18:20 in Ripple Labs I'm not saying the 18:22 company doesn't create value I'm saying 18:25 the xrp token is not what is connected 18:27 to the creation of that value so if 18:29 you're investing in xrp or you're 18:31 investing you know then a whole lot of 18:34 value can get created and none of it 18:36 acre to you meaning I think the way the 18:39 xrp token will go is the way the Miami 18:41 coin token went or the Satoshi Island 18:43 coin went or any other coin for which 18:46 nobody's really sure why it's there or 18:48 what it does they're just pretty sure 18:50 the company behind it is valuable and 18:53 then they buy the coin but it's like 18:55 again that that is not how investing 18:58 works please don't do that so hopefully 18:60 this helps if anybody wants to provide a 19:02 critique of this video or any of the 19:04 other videos I've done that are anti xrp 19:07 uh feel free to do that and I will do an 19:09 address of the critique of the critique 19:10 like this video have a great day 19:12 everyone thanks