Although this is Matt on the moon family Sedan Channel I've got two topics to Discuss in this latest room temperature Jam I'll start with this one from you Today Ripple engineer gives major Insight on xrp Ripple net and odl and Elle acknowledged that To some degree I just kind of like Audible sigh Face Paul all that crap Because It's amazing to me that we're talking About this in 2023 But the only way the only reason I Somewhat hesitate to state that is Because I know that there are always new People jumping into crypto new people Learning about xrp in which case I Wouldn't expect them to know all the Basic stuff you don't just jump into Crypto and magically have all the Information that people have been here You know as long as many of us have been You know I understand that too but it's Really more so that some of the people That I know have been here four years Literally don't know something as basic As what's being covered here like does Ripplenet use xrp yes or no I that's what we're going to be talking About I know I know there's an article About it we're talking about it man uh But then there's this and this article Was honestly a ton of fun to read this One comes from block works and it's
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Titled no matter what happens with the SEC Ripple has already won And so uh you'll see what they mean by That but it was just so fascinating Because like Ripple's been treated as The bastard child of the entire crypto Spirit for well since well before I Jumped into crypto over half a decade Ago from the beginning of their Existence in crypto and then because They've supported xrp from the beginning Uh that made xrp bad pxrp I bad Crypt Out right it's not bad guys coin it's a Crap like that which doesn't make sense If anything bitcoin's a bigger Banker's Coin than xrp at this point but uh Setting that argument aside it would the One of the biggest reasons I really Enjoyed this article is because When I jumped into crypto in 2017 I came In as a blank slate I just wanted to Believe whatever was true and so I tried To find like poke every hole in the Long-term adoption concept for xrp in a General sense and I couldn't do it I was Like trying to throw the kitchen sink at The bad boy and xrp just wouldn't break And so after all of this time to see Some of these people that would have Argued against me half a decade ago Finally admitting Knox if he's fine It's kind of satisfying can you believe Me it feels a bit satisfying you know a Little bit of vindication there
But before going further I do and 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 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 let's start out with this first Story Ripple engineer gives major uh xrp Insight a major Insight on xrp and They're talking about none other than Neil hartner a current Ripple employee You can see self-described in his Twitter profile is senior staff software Engineer at Ripple working on on-demand Liquidity cross-border payments so if You want to know something about on the On-demand liquidity wouldn't be the Worst person to ask you know what I'm Saying So there was a This video clip shared by an account Called the sir clown sniper and um from What I've seen from Sir Sir clown sniper Pretty damn precise Um been fighting from what I've seen Anyway not that I've looked in depth at Every single thing this person has Written but I've seen a few things Recently I've talked about some of them Even recently on the channel and seems To basically just be trying to destroy
Uh flood to fear uncertainty and doubt Uh you know pushing back against crazy Riddlers buyback Theory nonsense all Good stuff that where I'm just like yup Rooting right I've written right Alongside you on the same page and share This video clip in which uh Matt Hamilton there on the left former Ripple Employee Was talking and um he noted in this Particular video clip that uh that Ripple net doesn't have a cryptocurrency And ripple net doesn't use xrp Specifically and so sir clown sniper Wrote good night to all the folks who Still think Ripple net uses xrp and Neil Hartner Ripple employee responded that And said indirectly yes directly no and So he's stating their Ripple net does it Use xrp yes it does indirectly but not Directly and then Neil hartner says I Don't know how much the distinction Matters anymore when over half the Payments on ripplenet will end up using Xrp via on-demand liquidity and so just To be clear here I don't want there any Confusion even at the beginning part of This video But Ripple net uses on-demand liquidity And on-demand liquidity uses xrp it's a Text stack that's right is it technology Stack and so if you state that ripplenet Uses xrp it's not literally true if you Mean directly but It ultimately in a
Roundabout way doesn't abusing it and so I'd end up just thinking back to many Years ago before uh Ripple rebranded Their technology Suite you may recall That the technology at the time there Were three parts three primary parts That were touted publicly all the time There was X current so that was the Payments portion that's another more Clean way to word that even though it is A payments portion it's uh it's not for Some it was a payments portion and it's Just a messaging platform really kind of Like Swift is it's a messaging platform That's what x current was And and that is what is now known as Ripple net it was just rebranded X Current became Ripple net separately for Settlement There Was X rapid which has Been rebranded to on-demand liquidity And then they're separately from that There was also X via which my Understanding basically is the same Thing as X rapid but it's just for Corporates so it's effectively the same Thing they they they stopped to you know Chopping that whole technology Suite Into three things they got rid of the The well they got rid of all three of The original names uh but then I think They just kind of clumped xvia and xrap It into one and just called It On Demand Liquidity that's what it looks like to Me anyway from what I've seen
And and then as is so the messaging Portion that's just Ripple that so it Certainly is true back in the day I mean Remember I'm talking about this five uh You know Five years ago because people would be Complaining you know Ripple's technology Extern it doesn't even use xrp I was Like well that's right it doesn't But you can use xrap attack on that Technology and then it just does so in a Roundabout way here if you say Ripple Net doesn't use it okay but on-demand Liquidity uh you know it goes together Like you know peanut butter and jelly You know what I'm saying here so I get it it's it's like if you want to Be the most precise Ripple that Amazon's Correct Ripple net doesn't use xrp but Ripple net does use on-demand liquidity Every single day an on-demand liquidity Today requires xrp And so then sir clown sniper responded And said ripplenet doesn't use xrp It can send instructions to use whatever Including on-demand liquidity just like Swift regardless ripplenet does not use Xrp And so while technically true Neil Hartner took a little bit of issue and I Understand why with with the message That he's pushing here and I I do get it Because it doesn't help to add Sufficient Clarity I think that's
Ultimately the problem that he was Having with this even though sir clown Sniper was actually accurate but uh Neil Hartman responded you're mincing words If someone is asking was this Ripple net Payment facilitated with xrp a majority Of the time the answer is yes so think About that you can accurately State Ripplenet doesn't use xrp but then if he Asked the question was this Ripple net Payment facilitated with xrp usually the Answer is yes well think about that Might there be some confusion in the mix That's unnecessary and so that that was Ultimately the point here and then sir Clown sniper responded and said Ripple Net isn't a platform to settlement it's A platform for payments xrp is for Settlement agreed question mark and Neil Hartner responded agreed Provide the context and we are all good Stating Ripple net doesn't use xrp and Omitting any context related on-demand Liquidity just creates confusion and I Do think that's a very fair point uh sir Clown sniper then responded the context Is this we Have people in this community that see Ripple Nets being used and say Ripple Net can use on-demand liquidity but then They're telling people that this is Going to jack the price of xrp up to two Dollars to ten thousand dollars per coin Because they don't understand how on
Demand liquidity Works on-demand Liquidity barely moves xrp price because It's a buy into sell would you agree With that and oh by the way I don't want To go in depth on this because you could Have this kind of a splinter off in so Many different directions but he is Right in terms of everybody thinks okay Well if on demand liquidity's you know If it's uh getting used and then there's Gonna be that much more of a demand for For xrp then the price goes through the Roof I'm like oh you thought about half The equation what about what about the Fact that yes there's buy so that Increases the buy side in one market but Then you have an equal selling pressure In the in the recipient Market that Evens out via Arbitrage and so I don't Want to get into that topic any further For the purposes of this video I've Talked about that rather in depth but he Actually is quite correct on that so if On demand liquidity is going to help and There's more there is more too with it I Don't want to oversimplify I do still Think it's a net positive like the fact That on-demand liquidity uh would be Utilizing xrps and then on top of that And I'll say one more thing on this and Then I'll just move on because it's not The real primary purpose of this video But since it came up uh it is also true That in order for xrp to be used to be
On-demand liquidity more parties must be Holding xrp and that impacts supply and Demand so that is another important Thing to consider I'm just saying if You're looking at the totality of an Individual transaction there's a buy Side there's a sell side that pretty Much evens out but as far as those Entities that are holding xrp to make This possible if there's demand for that Then if xrp in any given moment is Getting used for that it can't be used For other stuff so that's that's Positive for xrp Price action for sure Unquestionably and then also I think for Anybody that just wants to speculate Like oh well businesses are using this Well maybe it's not going to go away I Want to diversify maybe I'll plop some Money into xrp I could totally see People especially in a mature Market Thinking along those lines Anyway but uh Neil hartner responded to That Instead um agreed or no Waits nope I'm Sorry there's the next one down here Neil hartner said I can't really comment On anything related xrp price either way But what you just said is a much clearer Explanation of what you were trying to Argue than just saying Ripple net Doesn't doesn't use xrp and then uh sir Clown sniper responded okay we've all Learned something ripplenet doesn't
Directly use xrp So fair enough on that point Um now on to the next topic and I think This is just going to be an entire Barrel of fun not like a quarter to a Half barrel phone but an entire full-on Barrel of fun If you want to pause here and pop Yourself some poppy coin go right on Ahead I'll be right here when you get Back but here's the headline from block Works no matter what happens with the SEC Ripple has already won Xrp has long served as a punching bag For Jaded crypto Folk Until Gary ginsler ginsler is the Cruella Deville to crypto's 101 market Caps The SEC Has Come For Kraken Genesis and Gemini although it was very late to the Latter two ginsler has prosecuted Library and sued degenerate in Chief Justin's son over his Tron and BitTorrent offerings just last month Now he's even angling for the biggest Fish coinbase posturing to sue the top U.S crypto exchange for trading in Alleged unregistered securities But while the SEC has dished out more Than 80 enforcement actions against Crypto startups since 2017 30 of them Last year There is one case that Trump's almost All others
The SEC versus Ripple although many Crypto industry observers previously saw Ripple as the butt of the joke the SEC Case win or lose is sparking what Appears to be a 180 degree change in how Crypto die hards view the long-terided Company This is beautiful all it took was Recognizing that we're actually on the Same damn boat and you need to stop Being little tribal Punk asses and just Come to your sense here because whatever Your favorite coin is is not necessarily Safe in fact it's probably any men's Danger But you know Altoco so not just this lawsuit but then Everything else happening and all the The attacks against staking and the Exchanges now all that and people are Like oh yeah I guess is kind of bad how About what we've been saying it in the Xrp community for over two damn years Little all right anyway peace Continues ginser is adamant there's no Need for crypto specific Securities laws And among those 80 or so cases against Crypto startups are instances of Outright fraud and other misdealings Those efforts must be applauded But in the background all along from Before ginsler's Time Ripple has been Funding a full-scale legal defense Against the U.S Securities regulator
It has also publicly refused to settle Bucking the trend of crypto startups Ponying up to SEC fines Now critics would have once said that Xrp is a centralized entirely pre-mined With ripple Labs awarding itself 80 Percent of the supply from the get-go Others would take offense on a more Philosophical level xrp is the Banker's Coin built to strengthen the existing Finance system that Bitcoin was so Immaculately conceived to undermine and I love all this for so many reasons if You talk about xrp being the Banker's Coin well then Bitcoin Bitcoins and Bankers coin too Because and I love how perfect of a Comparison this is Jack mullers the Founder and CEO of strike is literally Using Bitcoin to help the Legacy Financial system in the same way as a British currency in the same way that Ripples using xrp to do the same damn Thing so bitcoiners some of them uh like Let me say like this There are there have been plenty of of Uh bitcoiners especially the toxic Maxi Ones who have said xrp is the Banker's Coin in years past I don't see them saying that as much now I really don't come across that quite as Frequently that's because their whole Positions are stupid as hell from the Beginning you can use any decentralized
Cryptocurrency for whatever the hell you Want whether it's xrp or just your Bitcoin picker pick a coin if it's Decentralized plug it in with to Whatever technology stack y'all want to Ripple was using it for a thing now Jack Muller's with strike is using it for a Thing and it's the same damn thing They're it's the same effort it's just That they're using Bitcoin and lightning Network to an attempt to achieve the Same goal so they started with an Inferior technology stack but they're Still trying to do the thing that Ripple You know they showed their first demo Like eight years ago doing it something Like that And then the idea of it being Centralized when there's no control and This and this is the the other thing the Whole pre-mind thing with with all the Xrp being created all in one go all at Once there's no mining these crazy toxic Bitcoin Maxi trolls You know living under a bridge staying Warm next to dumpster fires like they Consider pre-mining to be original sin Effectively now it's so stupid because Eventually all Bitcoin will be mined and Then when all Bitcoin is out in the wild And all xrp is out in the wild nobody's Gonna care how it got out in the wild You idiot sticks and so all this is just Nonsense bunk stuff
Um and by the way I'll mention here too You know Ripple didn't award themselves 80 of the supply of xrp the founders Gifted xrp to Ripple which is a Different statement Facts be damned though right facts be Down so anyway considering all of that And there's all sorts of other things But still even just considering those Few things cited right there isn't it Kind of Interesting to see That uh now that they realize that They're under attack from the SEC too or They feel threatened now people are Coming around and defending Ripple and Also defending xrp people in the past Never would have all it took was them Getting attacked like oh yeah I guess we Should all band together Well thanks for joining the party I mean I am glad that they are getting it but Still man it's like pulling teeth for a While here anyway peace continues but Today if crypto insiders were looking Through their enemies enemies uh for for New friends Ripple and garlinghouse are Top of the pile Ripple Labs Executives have never Exactly tried to mend the Divide between Ripple and the rest of the crypto World Co-founder Chris Larson's five million Dollar change the code not the climate Campaign launched alongside Greenpeace
Last year aims to convince Bitcoin to Ditch proof of work mining with Newspaper ads and whatnot now part of The reason that's hilarious is because That's not even Ripple that's Chris Larson specifically in providing his Money his personal five million dollars To push for this because he actually Does very genuinely believe in all this Uh you know the climate stuff that he's Espousing here that's the reason and he Has his arguments as to why he feels the Way he does about Bitcoin now you don't Have to agree or disagree on either the Climate stuff or the Bitcoin impact or Potential impact in the future a lot of Stuff either way the point is it wasn't Even Ripple but but they wanted to to Pin it on Ripple because it sounds bad To so many people especially in the Bitcoin community on the surface Peace continues but the stunt has Amounted to more annoyance than any real Clout Bitcoiners even ironically adopted the Campaign's apocalyptic mascot Despite the ongoing SEC Strife Ripple Also claims its business is better than Ever institutions do seem increasingly Eager to use its crypto powered payment Rail Ripple now discloses billions in Quarterly revenue from selling xrp over The counter for use on Ripple net Spending a near equal amount to re-buy
The Token on public markets not that it Really matters xrp has persistently been One of the most valuable blockchain Projects in the world There's a certain Lindy effect that Comes with nearly a decade of stain Power in crypto All this we know the interesting part Isn't that Ripple is considered to uh Considered to a success in spite of its Detractors it's interesting now who Considers Ripple a success it took Crypto's number one villain Gary ginsler To fully legitimize the project in the Eyes of the formerly dubious crypto Crowd and I'll just note that there is Ryan sulcus who's the founder of massari Here he tweeted out on March 21st the Following I've been critical of Ripple in the past Various reasons but more aligned with Them than ever before Ripple should win The overreaching xrp SEC case and The Xrp Ledger should be afforded the Opportunity to compete fairly on digital Payments infra globally demand is there And imagine this is a person who up to This point has despised xrp He would say literal false so it's Pretty like I'm not kidding he would say Literally state things that were not True to drive a narrative And it's a shame that that was the case But after all these years of hating it
He has actually come around and realized Hey it actually is just a decentralized Software it's just computer code you Know you can use it for whatever he Seems to finally be getting it it just Took this kick in the rear side with What's happened from all the SEC stuff For even someone like him but he oh my Gosh the stuff that's come out of his Mouth and then and I'm sorry it's just It's It's been ridiculous in the past and it Is a pleasure to see this from I mean he Hates he hates xrp holders so much and I've mentioned this a few times over the Years Ryan selkis and this is back Before I launched my YouTube channel so Nobody knew who the hell it was but I Remember in a thread about xrp I didn't Even talk to the guy I never have Uh but she I hit like on a response to Something that he was saying about xrp So somebody was rebutting whatever Ryan Sulcus said about xrp I hit like on Whatever that was and then he blocked me And everyone apparently everyone else That hit like I was like okay close my And this is I'm brand new to crypto I'm Like well that's a nice hello just you Know I think that what he's saying is Wrong about xrp I'm still learning about Crypto and I guess that I just should Not have been I should not have had The iron but
To come around to my way of thinking After all of these years and he's one of The most well-known individuals in the Crypto space in general so it is a Positive thing So you know I Asked me in the past but I'm just Sharing information so that you're all Aware all aware of how how big of a deal It is this is something I never this is Like hell is frozen over I never thought That this would ever happen I just Thought he was so close-minded and that His favorite food on the planet was room Temperature cottage cheese but Apparently he's open to other food items As well I just didn't know that until Recently peace continues it used to be That crypto startups were cursed if Their tokens were labeled Securities Something must be wrong with the project If even the SEC knows it's centralized But now the agency's fixation on Interest-bearing crypto accounts Coinbase's proposed lending product and Kraken staking as a service offerings Has set the stage for Ripple's Redemption Arc It seems by the way it's kind of I get The concept they're trying to share That's stupid though because it's it's Not a Redemption Arc there's no Arc Where they need to go from whatever to Redemption Ripple didn't do anything
Wrong okay riffle didn't do any damn Thing wrong everybody else was wrong and Rude towards Ripple and the xrp Community so Redemption Rick isn't quite Precise but I get what they're trying to Say Peace continues it seems realistic that The SEC case could Ripple Outright but the case may well have Secured Ripple's reputation for good if Ripple wins it will have defeated Goliath to be crowned a crypto Champion Ripple's reputation would only be Steelmanned if it lost a Monumental fine Could hypothetically bankrupt The Firm But considering its current revenues It's unlikely and by the way I also Point out that last time garlic house Said anything about this publicly Ripple CEO bregolios he said uh yeah we've got A billion dollars in the bank so You know in theory possible but I'm just Saying He's continues it could be The thing really changes for ripple After the case concludes Win Lose or Jury trial except one major shift the Magnetic poles of the crypto industry Have flipped xrp is now bona fide in the Eyes of a once hostile industry all Thanks to the SEC there you go Truth whacked people over the head so I'll tell him because the SEC attacking And then all these people that were
Being completely unreasonable irrational Ideologically driven all had to happen Is feel like they're getting threatened Now and then they're like okay tell me More about this that's our pay thing it Works oh it is the essential I thought Okay and then we'll learn all the facts About it now okay all right Well I'm happy for it I am happy for it I don't want to sound like I'm I'm not Happy it's I'm appreciative of this but I still gotta laugh a little because I've been dealing with this crap for Over half a decade and there still are People that are just absolute haters It's not like everybody flipped on a Dime but a lot did And I think that you know even Ryan Selkis even if you just look at what he Said and then from asari all this coming Up even that has gone a long way I I'd Be willing to bet in terms of flipping Some of the people's minds that had These false ideas uh whether you know Plants in their head whether willing or Otherwise because some people are just Outright tricked and you're bit false Narratives and then they fall for it Like there's some of that too and I'm I'm nothing but sympathetic for stuff Like that but for the people that are Just willfully ignorant on this I was Like well Live your life man just live your life
It's good to be an xrp holder though xrp Is not going anywhere it's sticking Around it continues to be increasingly Useful the more time passes more people Are jumping into crypto what the hell do You think that ultimately means for Bryce which is why I'm happy to be here Right now and I will be as patient as I Need to to see this thing through I'm not a financial advisor you should Not buy or sell anything because of Anything I say are right that would be a Very very bad idea until next time to The Moon family sedan
