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[Music] Ignition sequence starts six five four Three two one zero liftoff we have a Liftoff [Music] Hey everybody this is the digital asset Investor and there's a lot of drama Going on in crypto right now this is not Um abnormal this is every time I've seen A downturn in this space in social media A lot of people get discouraged get Upset get worried and some of them may Not have some of them may have invested More than they can afford to lose well All these things combined from what I've Observed caused people to start Attacking other people That's not the way the digital asset Investor rolls what I'm into here is um Is I'm into buying dips I'm I'm into Being very conservative and making sure I have plenty of cash but at the same Time buying these these dips and Following the news and as the Bible says This too shall pass now John Deaton in This clip from link to is addressing Something that's not often addressed and That is what if Ripple what if Ripple Lost the lawsuit what if xrp is called a Security Uh tomorrow what if there's what if that Happens tomorrow I think this is an Important thing for people to understand Watch this what do you think could
Potentially become of Ripple when this Case ends well I think Ripple what we Have to do is look at a couple of things One is I I don't defend Ripple no not Not at all no no I I don't and but I do Defend facts right my whole if anybody Knows me and it follows me I'm all about The facts and the truth it's all I care About and so sometimes people think I'm Defending Ripple when I simply State the Fact and the fact is they were Investigated for 30 months and a lawsuit Was filed if they if the SEC would have Found any fraud they would have alleged It I'm a former Federal prosecutor and If you're going to prosecute this Company that has hundreds of millions of Dollars a billion dollars treasury in Cash and then they have billions of this Asset called xrp that's worked on paper At that moment in time worth 15 16 Billion dollars then and I'm going to go After that company that can afford the Best lawyers in the world if I can Allege fraud as a leverage right I'm Gonna do it like I'm gonna like bring Them to their knees you were fraudulent On this day and that day and so they Didn't which meant to me there is no Fraud there is no misrepresentation it Would have been alleged so that's what I'll say about Ripple I think they're Going to be fine right because this is a Non-fraud case and Brad garlinghouse's
Words they are operating as though They've lost and so they've had a 800 Percent increase in odl or this or that It's why I got involved Ray Ripple is Going to be fine if xrp is deemed a Security then it's going to affect you Know the U.S Corridor and all of that But they're going to be able to survive As a company right they can they could Sell xrp to accredited investors I mean They could sell it on linked to to Accredited investors only that's Something a lot of people aren't Thinking about with a potential if a Loss occurred that they can still sell Xrp to accredited investors If they want it in the United States Interesting so it would be it would be Significant loss but they would survive But the Ripple is going to be It was going to be fine you know and All right and uh Nick verifiedo from Link2 reminds us that Ripple is now Available on link to platform and is Expected expected to sell out in 24 Hours they just added it linked to is my Sponsor the Link's in the top of the Description you can click on it tell Them Dai sent you I do own Ripple Equity Myself okay I like it we've got Ourselves a new uh chart Um uh I'm drawing a blank here some new Chart lingo Xrp Bermuda Triangle I love it it sounds
Um mysterious Um I'm writing it down okay xrp is Inside the Bermuda Triangle that can't Is that good or bad metaphorically Speaking these prices might never be Seen again in your life Tom because if The previous price action mutates to the Current price action then xrp will rock It So I guess he's saying that this chart Bermuda Triangle is a good thing I've Watched documentaries on the real Bermuda Triangle and and um planes and Ships have been lost in the real Bermuda Triangle I guess the chart Bermuda Triangle is a good the good kind I love I love all this terminology whale Alerts has continued to share details of Large xrp movements as the coin records A significant price increase in one hour High net worth at crypto users shuffled A whopping 109 million xrp and three Transactions So if things are going on folks now Here's here's some of our drama going on David Schwartz out of nowhere drops a a Flare bomb I'm going to call that a Flare bomb okay And here's what he says The current flare holding rules for Subsequent air drops leaving leave Absolutely no incentive not to sell your Flare now you lose nothing if you sell Now while it's true you won't get the
Subsequent air drops you do not lose Them you get a hundred percent of their Value when you sell your flare since the Buyer can wrap that flare and get the Air drops this seems like a very strange Decision to me honestly the only way I Can explain it is that they simply Didn't want to keep their commitment and Instead wanted to give only give 15 Percent of what they promised I want to Be wrong but I don't see how I feel bad Saying this I love the project and I Want the best for it and I want to Believe that the best about it but my Honest opinion is that they leveraged The xrp community to grow and weaken Their promises drastically when they Felt they didn't need it anymore that Said that does not make them dishonest Or make their project a bad one at xrp Evolved and didn't keep some promises Made in the early days you can love Flair and love xrp too it's not one or The other but I don't have happy fuzzy Feelings about it how it went down now Um and he and here Hugo filion comes in He says Joel cats we have been Completely clear about our reasoning for Whatever that is and that puts new Entrance on an equal footing which in my Opinion is a must going forward if Flair Is to have a chance to reach its Potential from The Proposal and he gives This and he says I understand the
Reasoning my point is not that this is a Bad decision but it changes the Incentive structure in very negative Ways there may also be positive benefits That equal exceed the negative changes But that doesn't make the negative Changes go away Then we had xrp Darren weigh in he said He retweets it and says 85 is supposed To go to xrp community per original Terms now it goes uh to anyone that Holds flare whoever gets the 85 percent Has to pay taxes on each 15 drop I agree they use us they used us wait This person says I agree they used us to Fund the project and then xrp Darren Says everyone is like if if they care About the network they wouldn't sell if They cared they would they would realize The inflation rate we'll we'll discover Destroy their project price and Community for years to come Let me see what else he said down here Diluting the supply by six times over 36 Months inflation is way too high All right well Um let me see what we got here then oh David Schwartz also came in and said the Current flare holding rules Um all right down here he's addressing Songbird for what it's worth I just Bought a bunch of flair he makes that Clear and he says no I sold most of my Songbird immediately I didn't expect a
Test Network to generate or hold any Value also the project has matured a lot Since then Then he says just in case Anyone didn't see my retraction it looks Like I remembered this incorrectly I Only sold about seven percent of my Songbird immediately so just as an FYI Here's the current flare price at Four Cents the place that I weigh in on back You know back when all this went down I Never thought that they should have Changed it in the first place I got Attacked relentlessly on it and so what I did is I just stepped back and and Didn't really weigh in because people Seem to want to personally attack me Every time I said anything about it even If it was true and so and they wanted to Do though you just don't understand and All that well here's my deal Um I kind of figured it was gonna do This Um I kind of figured that it was gonna My experience in crypto is any anytime Something is built up be built up beyond Belief it goes the other way and now I Hope that they do well I mean but I I Bought some Flair myself yesterday Um I've accumulated Songbird too okay so I hope they do well I think it will do Well Um a lot of times things get crashed Like this when they when they come out
This is just part part of it anyway then We got Joe we got David Schwartz here This is pretty tough to pack you know The kind of information that I want into One minute I'm David Schwartz CTO at Ripple and this is crypto in a minute I got one minute okay Well the first consensus model was proof Of work I guess the advantage of proof Of work was at the time it was the only Game in town and it allowed for a Decentralized system that is one that Doesn't rely on a central Authority Later developments included things like Federated Byzantine agreement with The Xrp Ledger uses and proof of stake some Of the advantages of these later Developments are a lower cost proof of Work costs millions of dollars to pay The miners for the energy that they use Proof of stake doesn't have that cost And can provide comparable security and If you're the person who's paying those Costs if you're the people who are using The system how much it costs just to Keep the system secure is like a tax It's residual friction that the system Doesn't remove Federated Byzantine Agreement which is what The xrp Ledger Uses makes the users of the system the Stakeholders rather than the people who Have the most money to spend on tokens Or power and that provides a more sort Of democratic system where the costs can
Be low and the performance could be high Huh one minute Um then we have this from uh Tipsy tiger Sent this to me Um this is from Ryan selkis who blocked Me when I tried to ask him about the uh Disguised whales video for ethereum Financial Times reports that Glenn Hutchins resigned from the digital Currency group board in November here's What that means and why that matters From my research note in December on the Situation he's got a write-up on Glenn Hutchins dcg lost Glenn Hutchins from The board and Larry Summers as an Advisor after the collapse in November No great Optics here Then more drama we've got Matt Hamilton And he does not agree with all of the Xrp buyback people as I've told you I've Never really seen it necessarily as like A buyback more of a getting numbers out There that are not low in case the Government tries Um to I don't know necessarily confiscates the Word or tries to make us turn our xrp in Okay and part of my thinking on this is If all of these bad guys And I've covered it for four years and Make no mistake they have brought every Force that they have to bear against Ripple and xrp if they're that terrified If the government and the people that
Have helped the government And the SEC and all these people if they Are that terrified of xrp I don't put Anything past them and that's been my Whole point in in supporting all this in Terms of Um not not a buyback my my support is For any conversation that illustrates The potential damages that the Government and all of their helpers have Done against Ripple and xrp because Believe you me they have there have been Damages and that is where I lie on this Thing but I have no problem whatsoever With Matt Hamilton giving his opinion Because that's what it's all about and I Would never be someone to try to shout Him or anybody else down on that Um I think that he he he has Uh good logic and a lot of things that He says I think he's a smart guy so no Problem with him or his thoughts on this I think that having these discussions About all kinds of things is healthy I'm The digital asset investor I'm not an Investment advisor this is for Entertainment purposes only Please Subscribe hit the like button tell your Friends and family that there's a lot of Drama Snoop would Snoop Dogg would say There's a lot of drama in the LBC but There's a lot of drama in the xrp these Days Yeah
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