Hello this is Matt on the moon family Said Dan Channel here's a headline from The crypto basic David Schwartz says Quote Ripple was created to distribute Xrp as broadly as possible end quote and This whole conversation actually stems From a conversation that occurred back In 2021 during which a former xrp Community member who's one of the most Well-known xrp communities around back Back before leaving this individual Asserted that the reason that xrp was Created was purely to sell it to retail So that Ripple could sell it to retail And this is not precise and I'm going to Break down exactly why and I've got this Comment uh from David Schwartz which I'm Going to provide in full context so you Can see what's happening here but it is Interesting to see that there are some People that is if for whatever reason They have they just don't like Ripple And or xrp the things that come out of Their mouths it's it's so narrative Driven it just it makes you wonder some Of these people do they actually believe What they're saying or do they just want What they're saying to be true 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 or right I'm just an
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Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby In just four points all right so into This piece we go Schwartz corrects a Misconception about Ripple's primary Objective David Schwartz CTO at Ripple Has taken to Twitter to debunk a Misconception regarding the Silicon Valley based blockchain company A Twitter user known as scams are bad Quoted an old tweet saying xrp was Created to sell to retail and by the way I blocked scams are bad on on Twitter I'm all about uh you know diversity Thought this that but I I used to debate This individual and it became very clear That this this person was not interested In operating in facts and was not Interested in getting to the truth I was Not being intellectually honest and at That point I lost interest and then There was also uh the proof revealed That this individual had also assumed Somebody else's identity and that was The straw that broke the camel's back Where I'm like okay I already didn't Trust this guy I like debates but this Guy I do not believe he's intellectually Honest we're not going to get anywhere And he's assuming somebody's identity That's what was asserted so I was like I Want nothing to do with this fool but Here he is in being covered by crypto
Media so I'm mentioning it Ah Isn't that funny the name of scams are Bad and like he is this game anyway Peace continues in response to the Comment a blockchain Enthusiast named Azrael asserted that Ripple was created To sell xrp to retail The user added that Ripple's co-founder Jed McCaleb left the company because of How xrp was sold to retail investors And so here's the Tweet Um from Tiffany Hayden here actually I'll just pull up the old thread real Quick here so this is going back to November 13 2021 uh Tiffany Hayden Tweeted out xrp was created to sell uh To sell to retail full stop so I'll just Pause to note there that uh she and she Never that I've seen has provided any Evidence of that and nothing against her Personally Um but uh Tiffany Hayden in asserting That xrp was created to sell to retail Well I can tell you this Um if you go back to what the creators Of xrp have said including David Schwartz one of the creators uh he Stated that at the time they were just Trying to make a better Bitcoin that was It and uh they thought that Loosely Maybe it could have some somehow be used You know just in payments in general but That's about as far as the thought
Process ever went And so it wasn't clear what xrp ever Would necessarily ultimately be used for Because it's a decentralized Cryptocurrency people can use it for Whatever they want now if you're talking About a ripples business plan and a key Part of it uh to be to just you know Distribute or sell xrp that's never been A secret and so I think that the way It's Being Framed is to make it you know Some sort of original sin on the part of Ripple I just don't think that's ever Made sense they've always been fully Transparent about that I've known that Since I jumped into crypto in 2017 and While some people and fair enough some People they find that to be a major Turnoff and it results in them not being Interested in purchasing xrp uh for me I Just thought I really don't care because Xrp itself is decentralized and so even Though in terms of Ripple yeah Ridiculously large Holdings got it Um they've been a good cheerleader to That point in time and to this point in Time in terms of you know propping up to The best of their building supporting Being the biggest cheerleader for the Xrp ecosystem and so the reason I had Never been afraid even though I admit This still could go terribly bad they Could just start massively dumping all Their Holdings non-stop each month when
It comes out of escrow and just be like Yeah we're just going to actually sell It now I don't think they'll do it for a Number of reasons because that would not Be in their financial interest also in The short term there would be Implications from a legal perspective Especially with the ongoing SEC Litigation so there are other things to Consider there But again this has never been a secret So you know to stay to Stephanie Hayden Wrote here in a separate tweet Um referencing Jed McCaleb one of the Creators of xrp the guy that came up With the idea for xrp Tiffany Hayden Said Jed said exactly that in a Deposition Ripple's entire business plan Was to sell xrp Okay so That was part of Ripple's plan to sell HP that part is true but the idea of xrp Being created to sell to retail that Part is not true You'd have to provide evidence to Persuade me that that is true I've never Seen in fact so far as I know and if I'm Wrong enough somebody just provide a Source in the comment section below my Understanding is Ripple has never once Not even one single time sold xrp to any One that's in retail So they can sell to you know entities on An Institutional level and then there Can be secondary transactions that
Result in retail having it which is why I mean we do have xrp as as retail Holders sure but let's be precise here Uh that's not how it went down now if I Am mistaken or that somebody let me know And I will note Um uh some of you may have already seen This but if you were in the Twitter Spaces that I co-hosted with Attorney John Deaton a few days ago Um I said just that I said you know Ripple's never sold to um to to retail Ever and as far as I know that is true But then two people said that they Thought that I might be mistaken on that And to which my response was okay if That's the case then just provide that Data so I can stop being wrong about it Because if I'm wrong I want to stop Being wrong about it that's just how I Look at stuff so Um I just I I Googled I couldn't find it But if any of you can find any evidence That Ripple directly sold okay fine even If so I can tell you I've never seen a Single transaction uh be cited in my Five plus years in crypto so if there Was something that happened in the Earliest of days and I'm actually just On aware of it fine then I actually Would like to know that so I I Acknowledge I could be wrong But what I'm outside of that though my Still my belief at this particular
Moment in time is that they've never Done that they have given away xrp in The past they did that which is Different than selling it because the Whole plan was to get xrp out into the Hands of as many people as possible That's pretty much it So anyway that that old tweet from Tiffany haydnson xrp was created to sell The retail login never ended up in sold Directly to retail and xrp they didn't Even know what they were going to do With and they created it to Ripple Hadn't even there was no company so it Wasn't clear that it would ever be used For anything to be honest with you so to State that it was you know created you Know with the intent of it being sold to Retail specifically for a company like Those ideas didn't even exist So anyway scams are bam retweeted that And wrote the same thing xrp was created To solve the retail full stop then Somebody else named Azrael wrote in my Opinion Ripple was created to sell xrp To retail I am not sure if you and Tiffany are saying this in combat of the Phrase xrp was never for retail but There was an obvious disagreement Regarding xrp being sold to retail the Way it was so Jed left yeah so the Reason that Jed left and I don't know All the particulars because not all That's been made public ever but my
Understanding is that he was not happy With how the company was being run he Wanted a completely different approach That's why he loved not having anything Specifically to do with xrp being sold Or not sold just to be clear on that and Then as far as this idea of xrp never Being for real retail it's just stupid Have you guys heard this because there There are people and they just it sounds It's just a stupid idea honestly there I Have seen it cited many times over the Years yeah xrp wasn't even meant for us It was meant for the institutions but we Actually have it they're going to try And get it from us you know it's a Conspiracy nonsense crap Uh but anyway Uh the idea of xrp being exclusively for Retail or exclusively for institutions Is stupid and it's here's an obvious way To understand that it's clearly not just For institutions I mean uh again it will Cite it as you know being created as a Better version of Bitcoin which isn't For institutions and also on top of that The reason that xrp has an open market Price is because retail speculators like You and I we buy and sell xrp right that That's what people do that results in an Open market price based on supply and Demand that's the reason it exists so of Course there's going to be retail Participants here
All right let's go a little bit further Though peace continues commenting on the Development Schwartz quickly corrected The misconception to prevent it from Spreading like wildfire he clarified That Ripple was created to distribute Xrp as broadly as possible and to Generate enough revenue from the coin Sales to sustain its operations and by That one more thing because I want to Make sure I do this in order there was a Um A deposition of Jed Michaela back in 2016 I don't think I'd ever seen this Damn thing before but it had something To do with mountain gox because he was He I'm sure many of you know this but Some may not uh Jed McKay was actually The uh the creator of Mount gox and then He ended up selling it before it ended Up ultimately going under after that Hack which I'm sure all of you are Pretty well aware of at this time but Anyway so he was under deposition in 2016 and he stated a number of things Shared by Tiffany Hayden and I'm not Going to read it all it's on your screen If you want to see the relevant portion It's right here but um Jed McCaleb did Note that Ripple's plan was always to Sell xrp but again this this was never Some sort of secret so I'm not just to Me it's a big nothing but Um but anyway that being said
David Schwartz did ultimately chime in On this And David Schwartz wrote The Following At least in my view Ripple was created To distribute xrp as broadly as possible And with luck and if necessary be able To generate enough revenue from sales or Things like sales of xrp to sustain its Operations so my friends isn't all of This exactly in line with everything That we've always known and so it's just It's just kind of disturbing to see how Somebody is intellectually dishonest as The scams or bad twitter account you Know trying to frame things in such a Way That just clearly isn't true which is Why I wanted to take the way to kind of Take this down but we've always known That Ripple's been trying to distribute Xrp they literally gave it away for free Back in like it might have been 2013 Maybe it was 2014. but in the earliest Of days They literally gave it away for free now The reason they didn't give away more is Because it became problematic once xrp Was being traded on cryptocurrency Exchanges all you're doing is just if You just give out enough you're just Going to result in the price just Plummeting so because they did it in That order it quickly became a problem But it's also true that you know Ripple
You know they're not exactly in charge Even in the earliest of days it's not They they could tell somebody not to List xrp on an exchange it's a Decentralized cryptocurrency if there's An exchange I wanted to do that they get Their hands on it they can just do it Anyway So it just it became a problem and so You can look back and be critical and You know some critiques I think could be Fair in that regards because the fact That Ripple has as much extra fees they Have is you know some people have a Problem with that okay fine should they Have that much these are all reasonable Things to discuss Uh but I will just tell you and I don't Know what the current plan is but years Ago they articulated a plan showing a Chart where they planned on Uh selling xrp over a span of literally Decades so as to not cause a plummet in The price of xrp So I don't know and there's always the Possibility even Brad Garland house has Acknowledged as a possibility I don't Know if it's going to happen but there's This idea of you know Burning xrp it's it's because there's so Much of it does does that much need to Exist I don't know I don't know if there's an Optimal amount and then also
How can you even how could you even and You can't really answer that question Because you don't know what the adoption Of xrp is going to be in the future so What's optimal I don't know I I don't know if it matters I just I Just to me it's never been anything even Close to a deal breaker like I've been Aware of all this for over half a decade I just don't give a damn and for the People that you know it bothers them Fine I respect that actually if you Think that's a concern that's not a Crazy concern actually that's a Reasonable concern that you have doesn't Bother me but it bothers you then fine Don't hold xrp whatever I don't care but we've always known that Ripple is going to be selling xrp from The beginning and distributing it in Various ways they have So what what the hell is the problem Here There isn't a problem that's what I'm Getting at here there definitely is not A problem at all I'm not a financial advisor you should Not buy yourself 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
