In this video, I discuss the cryptocurrency XRP and the history of its parent corporation Ripple Labs.
Unlike Bitcoin, XRP is a centralized token that is issued and controlled by a parent corporation, Ripple Labs. Ripple’s main business model is dumping XRP on naive retail investors and then using the cash proceeds to buy publicity and to pay other financial services companies to try out its software.
Jed McCaleb, the co-founder of Ripple Labs, has a shady past and a history of turning on those closest to him. I do not know him personally, but this is my opinion after much online research.
U.S banks will never adopt XRP at large scale. To do so would be to give far too much power to a private company like Ripple Labs.
Ripple Labs and its co-founder continue to dump XRP on unsuspecting retail investors.
For these reasons, I prefer to own Bitcoin, which is decentralized and has a fixed max supply.
Not investment advice! Consult a financial adviser.
Ripple buys publicity:
Did McCaleb hide Mt Gox security flaws:
McCaleb dumping XRP:
Ripple co-founder Jed McCaleb has sold an estimated 1.74 million $XRP PER DAY in 2020. The wallets that are his have seen a decrease of 630 million XRP in 2020.
— Young And Investing (@QuintenFrancois) August 6, 2020
Executives leaving Ripple Labs:
In-depth article on Ripple and Jed McCaleb:
Why did Jed McCaleb leave Ripple to start Stellar:
Ripple co-founder and CEO do not believe in XRP:
Ripple and MoneyGram:
“XRP Will Never Be Used By Banks”:
Matthew Kratter is the author of the Amazon best-seller “A Beginner’s Guide to the Stock Market”:
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