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Hello this is Matt on the moon family Said Dan Channel I've got three stories To share with you in this latest Moon Family said Dan room temperature Jam a Former Ripple employee has been Attempting to purchase a a car in part Using xrp and it's been from and I'll Show you exactly why nothing but a Complete and utter headache and it's Just interesting Um seeing that he's having to deal with This in particular because the fact that He was working for ripple a company that Was trying to make it as easy to move Money to move value around the planet as It is to send an email or a text message Today he was working for a company to to Make that happen still obviously that Hasn't quite been achieved although Obviously that agreed to which ripples Found success including in positioning Xrp as a bridge currency very impressive Obviously not to not to belittle that or Make light of that but still we're not Quite there and it's just interesting to See like the entire rigmarole that he Had to go through uh to to move way I'll Share with you that's the first Arrow Cover then there was also this from the Crypto basic xrp Community member bash's Coin center after agrawal mocks Ripple Uh and then finally there's this story From the crypto basic xrp Ledger Foundation releases updated UNL now
Boasting 36 validators but before going Further I do want to be clear I do not Have a financial background of any kind I am not offering Financial advice and You definitely should not buy or sell Anything because of anything I say are Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right so here we have a Very short thread from former Ripple Employee Matt Hamilton and he is sharing The headache that he's been going Through in trying to buy a car and Trying to use xrp uh to you know for at Least part of the purchase and so he Wrote The Following I'm trying to buy a car I wanted to use Some of my xrp buyer doesn't accept Crypto so the process went and this is a Lot of moving stuff around and you'll See why uh but to check this out so from Xrp ledger to binance Cell xrp for the stable coin you a Tether usdt Sell usdt for GBP then transfer GBP via Faster payments to revolute Transfer GBP via faster payments to wise Convert GBP to United States dollars Send United States dollars from Wise to Fcib dbd account last step paused as Banks closed for the weekend so look at All of those steps and then it's like oh And also it's the weekend so you can't
Complete this right now sorry just gotta Wait for a business day oh my God can You believe that this is 220 2023 and This is still this is still how money Has to move around the planet And in it admittedly it's it's it does Depend on jurisdiction which I'll cover Further now so there's another tweet From Hamilton he said why such a Torturous process Because of the policy on accepting Crypto payments by the bank accounts and Minimizing the slow slash expensive ACH Slash Swift transfers The irony is not lost on me I used to Work for a company trying to solve this Exact problem No kidding that sucks that really sucks Now if things won't always be like this Uh you know that this is going to be Fixed and there are there are solutions Technologically that already existed it Doesn't have to be like this but the Technology needs to be adopted and from A regulatory perspective uh it just it Needs to be approved now um now somebody Responded to them lots of people Responding so I just picked one example Here but somebody named smudge wrote to Him and said Um you made a suggestion here xrp on Ledger Nano uh move it to uphold account Move it to bank account seconds had no Issues and so then Matt Hamilton
Responding said into which bank account In which country and then smudge Responded said United Kingdom England uh To which Matt Hamilton responded yeah The difficulty I have is I need to get The funds to my local account in Barbados they are notoriously Anti-crypto so that's the thing it does Depend on where you're living but even If you were having uh there are a lot of Jurisdictions where even though you Wouldn't have quite that many steps Necessary it's still more than it should Be and it's crazy to think even in 2023 With the attacks from various government Agencies that we're seeing right now On-rampson on on-ramps and off ramps Rather are are being decimated In fact I mentioned I'll just mention it Once again here since we're talking About it but even Kraken a major Cryptocurrency exchange one that I use Here in the United States I actually Just started using the other I actually Technically registered over half a Decade ago never happened I need to use Them and then I did recently because I Purchased some Flair but anyway the They actually they announced that on the 27th that's either I think that's the What they said is going to be the last Day where they do they'll do a ACH Transfers so you won't be able to get Money uh from your checking account your
Personal checking account in the United States to Kraken and you also won't be Able to get uh your money out of the Exchange into a checking account not From Kraken anyway And look well look I don't know even as Far as I've seen they haven't divulged The specific reasons for their situation But you've seen Banks crypto friendly Banks collapse uh presumably it has Everything to do with that and if not if I find out then I'll be happy to talk About on the channel but I think that's A pretty reasonable guess at this point And it's all because of this attack that You're seeing on crypto it's not crypto That causes these Banks to have these Problems and then what was the Government response so it's getting Scary and scary actually I'm going to Talk about that topic actually more in a Separate video at some point anyway Because it's got me thinking what the Hell am I personally going to do here in The United States next time we have a Major Bull Run or who knows maybe an xrp Just runs sooner than later because we Get positive ruling in the SEC Ripple Case what the hell am I going to do to Make sure that I can get out of my Position if I want to sell most or all Of it if it goes high enough where I'd Want to do that if it does Uh
I know uphold's still an option but you Know I'd still kind of Wonder to what Degree like what if there's a bunch of Action and then like an exchange goes Down you know you need to have backup Plans and what do you do then like if You can't get your your crypto out like What do you do put it into tether put it Into usdc and then you have a a Ridiculous amount of your net worth and A stable coin for a while anyway just Stuff I've been thinking about they'll Talk about it more in a future but I Haven't decided exactly what I want to Do here Um and then there's this next topic There's this individual named Niraj Agrawal and uh he works at coin Center And he said some stuff that wasn't true And then an xrp Community member who has An attorney came back and brought up a Separate point Because it's just it's just kind of Funny it's one of those things where It's close to like pot calling kettle Black you know one of those types of Things And so there's this tweet from this guy And he says Ripple gave five million Dollars to Greenpeace and all they got Is a cool statue that Associates Bitcoin With nuclear power and there's he's Clearly referencing the graphic that is On your screen right now with this green
Looking Tech skull thing and dudes with Red glowy eyes because you know laser Eyes all that Uh except for he's saying stuff that Just isn't true uh so here's the Headline from Bloomberg from March 28th Of last year Greenpeace crypto Billionaire lobbied to change Bitcoin Code now whatever you think of that Whole push that was not Ripple that was Chris Larson who's a co-founder of Ripple and co-founder of Ripple Chris Larson uh provided five million dollars Towards that specific effort but it Wasn't that him were even writing a five Million dollar check to Greenpeace uh if Any I'm not sure if any of it did but There were all there's all sorts of Money that was donated as an advertising Campaign so on and so forth so it wasn't Even specifically the green Pace peace Even if any maybe some of them went There I'm not aware if that even Happened though but it wasn't Ripple so This guy is just one of those people Clearly it's just one of those Ripple Haters probably hates xrp too because Reasons and none of this is true but It's just such an interesting claim Considering the you know the fact that His organization is taking money money For reasons that Don't look so fantastic let's say so Look at this headline from the crypto
Basic xrp Community member bashes coin Center after agrawal mocks Ripple xrp Community member claims coin Center took Payments from ethereum Foundation to Discredit other projects well how about That the organization received a 500 000 Grant from the ethereum foundation in 2021. Bill Morgan a pro xrp Australian Lawyer has alleged that the ethereum Foundation's grant to non-profit Research and crypto advocacy Organization coin Center was for past Services calling out other tokens as Secures so I'll just pause to note might It be the case that he's kind of getting That maybe you're saying some of this Nonsense crap which actually literally Isn't true in this case and he didn't Get called out for that which is why I Wanted to make sure that I sent it might It be because you got 500 000 from each Foundation is that why they're saying The stuff about the Ripple is that the Reason there uh be surprised if so Anyway peace continues Morgan made this Claim in a two-part Twitter thread today Citing an excerpt from a coin Center Blog post in 2016 to answer whether Bitcoin is a security As highlighted by Morgan the author Expresses that ethereum is not a Security because of its Application-based platform conversely The article states that projects with
Heavily marketed pre-sales or sales of Pre-mined cryptocurrencies with a small And non-diverse Mining and developer Community when the facts indicate that Profits come primarily from the efforts Of this discrete and profit motivated Group pass the Howie test now of course Shouldn't even get to the highway test Before determining whether or not There's a contract or an investment Contract so there's that which means That that's all garbage you shouldn't Even get the part where you're talking About the Howie test Um but that's what they wrote and dating Back in fact here I'll just pull up the Tweet So here's what uh Bill attorney Bill Morgan wrote is coin Center still Receiving those grants from the ethereum Foundation for past Services calling out Other tokens as securities And then he wrote uh starting with this From its early 2016 document and then I Don't feel the need to read the whole Thing if you want to pause and look at The screen you can see part of it was Written back in 2016 but again Um it doesn't even make sense to get the Highway test if you're they don't even Talk about whether or not there are Actual contracts in place and nobody was Talking about that back then but it just Goes to the point out like even the
People that were most in the know in 2016 nobody was talking about what about Case precedent dating back to 1946 are There actual investment contracts what About blue skies loss Blue Sky laws what About all that stuff you it wasn't until Ripple's legal team ended up bringing it Up that it was addressed at all and now It's more widely understood it's just Fascinating And then there's this to point out Further are you talking because he's Talking about what if there's a small Developer community and this or that and These these other metrics that you can Consider but you know When it comes to The xrp Ledger it's Unquestionably incredibly decentralized Look at this headline from the crypto Basic xrp Ledger Foundation releases Updated UNL now boasting 36 validates And one of the things that really steams My vegetables is when Bitcoin matchy Trolls you know they I just wish they'd Just hang out next to their warm Dumpster fires living under the bridges That they live on I prefer they just Stay there frankly just waddling around Saying nonsense That's what the the Bitcoin Maxi trolls Out I'd rather them just do that than Talk about anything to me ever again That would be very nice because they They say nonsense like you know Ripple
Controls the unique nodeless this and That and it's nonsense you can you can Absolutely choose uh you know the the Validators that you trust you set up Your own unique node list in fact here's One and you can you can use a preset Note that you can use ripples but Nobody's forcing you to you can choose To do that it's basically like here's a Template you can use it if you want to Use it so there's ripples UNL or if you Want to use xrp Ledger foundations you Enough you can do that too or or not you Don't have to use any of it Anyway so the peach reads is false The Xrp Ledger Foundation has updated its Unique node list increasing the number Of validators trusted by the foundation From 34 to 36. the group revealed this In a tweet today Notably the last time the xrp Ledger Foundation updated its UNL was in January when the list was reduced from 35 to 34. in January the number of Ripple-owned validators was reduced from 2 to 1 in line with its one validator Per entity policy ah but I thought that Ripple controlled everything with their You know they force a unlu and they got All these values no they well they don't Though they absolutely do not And so this idea that there's some sort Of centralization and even if you want To apply it to the Howie test
No even if you want to talk about Obviously not and then I wrote to The Xrp Ledger Foundation initially reduced This number to Two in October uh Nonetheless it Bears mentioning that the Blockchain payments company incentivizes Most university-run validators Ah there we are it couldn't be more Obvious the crap we've had to argue Against with the Bitcoin Maxi trolls out There and it's just what's unfortunate Is that What I've seen is the vast majority of People that have argued such things They're not even attempting tempting to Be or interested in being intellectually Honest they just want to assert things Because they are ideologically driven It's not about being in line with what Is truth it's about convincing people to Be in line with what is best for them And their products and their personal Beliefs which I find repulsive I'm not a financial advisor you should Not buy or sell anything because of Anything I say or right that would be a Very very very bad idea until next time To the Moon family sedan
