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