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Hello this is Matt on the moon Lambo Channel I've got three stories to share With you in this very latest Moon Lambo Hot hot hot hot hot hot hot Jam I'll Start with this one from the crypto Basic xrp becomes third largest holding In bitwise Index Fund with 3.2% weight After relisting and folks this is Glorious now that xrp does have legal Clarity we we've seen we've seen a fair Bit of this haven't we not just xrp Getting relisted on exchanges but Getting thrown into crypto funds either Funds that it was removed from or funds That for the first time are adding it We've seen both of those scenarios look Xrp is a finite asset there's only so Much of it it in fact it's deflationary The deflation is coded into the damn Thing that's not even true of Bitcoin I Mean it's effectively ultimately Deflationary once all the bitcoin's out There just by the nature of people Losing it but you don't have that coded Into it xrp it's even coded into it so Both are true yes people lose xrp and Keys get lost and stuff like that but Also uh it's coded into it with each Trans transaction there's less xrp every Single day there is less xrp in Existence than the day before and so you Have all of these Dynamics and you have More and more money flowing in we're at A point uh before crypto markets are
Really crazily taken off even though Honestly it's been a great 2023 for Crypto markets it really has but we Haven't seen the Euphoria we haven't Seen the new all-time Highs but Understand right now the firms are Positioning themselves and if you're Listening right now in October of 2023 Congratulations because the vast Majority of people even though they it' Be in their best interest be paying Attention to what's happening to crypto Most people that were here during the Hype of 2021 have left so kudos to you As always uh for for paying attention to What's going on here but you are smart Because you are positioned and aware of What's going on when the rest of the World is just sleeping on all this Almost nobody's paying Attention I seriously mean it that's why That's why I say it fair Fairly Frequently lately and I mean it Congratulations kudos to you you deserve The credit for paying attention to all This uh so there is that and then There's also this headline we got talk About this from cryptopolitan Bitcoin core developer ditches lightning What's the drama and and it's just so Fascinating you know when it comes to Bitcoin my God it is the worst lir one Technology in existence and I'm Pro Bitcoin I'm just speaking in terms of
Reality it's the least technologically Sufficient uh like it just it on layer One try to buy something with it try it Doesn't work right and so we're we're Well everybody's been counting on Layer Two to actually just work and in this Case for most people in most people's Minds it means the lightning network but There's just roadblock block after Roadblock after roadblock on this stuff And there's a major there's some major Um negative news circulating about there Actually being a a back door Enlightening I want to I want to address That also uh you know in terms of being Able to get in and actually steal funds This or that I need to address that but Either way despite all of this and and And it does does seem very clearly to be The case like lightning Network it's not Exactly working out of the box there's Already a solution you know what the Solution Is it's xrp and The xrp Ledger it just You can use that as though it were a l 2 Technology look we're not maximalist out Here right the vast majority of us Right and and I just I if the bitcoiners Weren't maximalist they'd recognize hey We love Bitcoin it's great people are Adop it's the most adopted crypto on the Entire damn planet but we could use that Xrp ledger thing that we've been bashing To actually make it work better use it
As though it's a l and just they they Can't bring themselves to do it and then There's this headline also from the Crypt basic Ripple CEO we believe that Xrp is efficient in many use cases but We are not Maximalist um and I also want to note Here let's just set the table here There's this um article and I talked About this this is from what a little Over a week ago October 15th uh Ripple's Win elevates xrp with Hong Kong's top Crypto index inclusion Uh this is just to set the table here I'll be brief on this Hong Kong virtual Asset Consortium has thrust xrp Into the Spotlight by welcoming it into the Exclusive fold of its virtual asset Index the announcement came as a Watershed moment for the cryptocurrency As it secured 6.94% share in the HK vac Cryptocurrency Global large top five Index and equal weight index and so Folks this this is actually a major one By way by the way and Again you're going to continue to see More and more of this And this directly impacts supply and Demand Dynamics for xrp xrp ran to Almost $4 almost 6 years ago when it hit Its all-time high and that was when There were fewer than 700,000 xrp accounts in existence there Are now nearly 5
Million it's a matter of time xrp is Going to hit a new alltime high I firmly Believe anyway and I can't say that Definitively I always acknowledge that I Could be wrong an xrp goes to zero I do Not know but that is what I firmly Believe is the most probable and it Seems to me that the smart money is Counting on that too that's why these Institutions they're not just counting On bitcoin which is purported by many to Be the safest and smartest bet in crypto Well these people even if they believe That they're putting money in xrp and Frankly the cryptocurrencies that make It that have less money in them now They're going to yield much greater Results than the ones that have more Money in them that would be xrp which is Why for me xrp is The Sweet Spot when it Comes to investing in crypto it's tried And true it's tested it's been around For over a decade it's been attacked for Over a decade no hack has ever been Successful on it the technology just Works the encryption works and it's just Chugging along you could throw Everything at it including the kitchen Sink the SEC attack all of it it's still Here just chugging along the Ledger Itself doesn't care what happens in the Background with the SEC or what stupid Bitcoin matchy trolls think and the XP Ledger doesn't care because it's not
Sentient but point being though but Seriously the technology it just keeps Chugging along here and that brings us To this the xrp becomes third largest Holding in bitwise Index Fund with 3.2% Weight after Relisting xrp the fifth most significant Crypto project has secured another major Support this time xrp secured a listing With the acclaimed world's largest Digital asset index fund manager bitwise In particular Matt hugan the chief Investment officer at bitwise Asset Management shared the listing update in A recent interview on the thinking Crypto podcast the podcast host Tony Edward spotlighted the development in Recent tweet for the xrp Army in the Interview Edward asked the bitwise Executive about the company's plans for Xrp following recent developments from The lawsuit targeted at the digital Asset in response hugan confirmed that Xrp has become a holding of bitwise Asset management particularly the Bitwise 10 crypto Index Fund or bitw for Short furthermore hugan noted that Following the relisting XR PB came bit Wise's third most significant holding Commanding a 3.2% share and he said Quote yeah it is a holding now of the Bitwise 10 so it is the third largest Holding at the three at a 3.2% weight End quote now again this is stuff that
We had been predicting would occur after Xrp had legal Clarity and it seemed like A no-brainer analysis and it was but I'm Just pointing out here's the proof we Were right it is happening money's Flowing in so when markets really up There's just that much less xrp Available for any of the retail holders Because it's already been allocated by These Institutions how about that now how About that you can cash me outside take A look at this though and this is great This is great for xrp and it should be Great for Bitcoin though but the Headline here from cryptopolitan Bitcoin Core developer ditches lightning what's The drama and I don't need to read the Whole article there's a few bullet Points which I think will be p uh Sufficient for the purposes of this Video reads as follows prominent Bitcoin Figure Antoine rard leaves lightning Network development due to security Concerns the lightning Network Introduced to enhance Bitcoin Scalability is threatened by replacement Cycling attacks these attacks exploit Payment Channel inconsistencies henting At deeper vulnerabilities within Bitcoin's architecture and so I'm not Going to read the whole email just for The sake of time I don't think it's Necessary to get some ideas across to
You guys but I read the email that they That was referenced here I read this Article and other articles about this I Looked into it a fair bit and he's going Back to working on bitcoin core so he's Actually working on the blockchain Itself that that's that's where he think Because he he he's given up on Lightning Network let's just be real this is what Has happened uh he doesn't think that It's salvageable there are security Concerns he doesn't think it works now There is also a bit of reporting that Isn't quite precise um there is this From uh whale wire and a lot of people Reporting stuff like this 59 thou Followers here and uh whale wire wrote The Following breaking one of the top Bitcoin developers recently discovered a Massive security risk in the lightning Network which triggered him to announce His departure from the project he claims There's intentional back doors in the Code that allow attackers to easily get Full control of the network so I just Got to pause right there there's a Possibility I missed something if there Is any proof that he said or that there Are intentional back doors in the code Of lightning Network bring it to me I I Just I operate in good faith I could Miss stuff that does happen I haven't Seen any proof of that whatsoever I've Seen literally zero proof of that in
Fact all the the material that I read Including the email which he cites here Which I don't need to read in its Totality for the purpose of this video Again I I read the entirety of the thing He doesn't make those claims not in that Email that that is being shared here by Wh wire he does not make claims of Intentional back doors or anything like That he brings up security concerns that Render lightning Network just useless Effectively so again Bitcoin the only thing Bitcoin can Really do if you don't have a layer two Technology is it can be a store of value And then I don't want to go off on this I've talked about this so many times it Is an interesting topic it's like can Something just be a store of value I'm Skeptical of that because I think if There are things that do other things But can also be a store of value like Xrp for example I think the smart money Eventually figures that out and then the Thing that can only be uh you know a Store of value would collapse and I'm Not 100% sure of that I think that's a Plausible Theory because otherwise what It just sticks around purely because It's the first crypto ever maybe I know Standards matter but and xrp Bitcoin Rather has become the standard for the Standard crypto that you know everybody Jumps to I get it I understand it's hard
To supplant a Standard but if you want to have it do More stuff you need letterer 2 Technology and you know what's what's so Fascinating about this and the Bitcoin Maxis hate that this is true but the Problem's already been solved it's not Some sort of science experiment the Problem's been solved not with lightning Net NW work cuz you just had this major Developer say uh ba Felicia on it He got time for that he's out of there He's out of there he's not developing Lightning Network anymore it just Doesn't work he's he's thrown in the top But you know what does work is spin the Bits the problem has literally been Solved xrp Ledger which is lir one Technology is being used as though it Were instead of a lir one it's being Used as though it were a layer 2 Technology because you can tokenize Assets on The xrp Ledger which means That you can move uh a representation of Bitcoin on The xrp Ledger so rather than Set up payment channels on Lightning Network you have the representation of It on The xrp Ledger and you can spend The problem is solved we know it works And it works at scale we know this for Sure it's it's out it's done but the Bitcoin Maxis even though this would Help to save them and The xrp Ledger Would help ensure the long-term
Viability of Bitcoin and it would make It possible to actually spend it as real Money today the Bitcoin Maxis won't have It they won't have it it even though it Would Benefit them at least not anytime soon Maybe over time uh sentiment changes This maybe but they are nowhere even Close to that right now they despise xrp And The xrp Ledger and by the way if That ever happens if we have broad Adoption of spin the bits utilizing the Xrp ledger to move Bitcoin around uh That requires xrp for every single Transaction quite literally so for every Bitcoin transaction that's being used on That platform xrp also gets used and X Also gets burnt for every Transaction and so there was Attorney John Deon here who reposted that from Whale wire and uh attorney Deon by the Way and i' had mentioned this on the Channel before and he'd been public About this for maybe several weeks or so Ago he announced this he's actually Recently invested in spin the bits which Again uses The xrp Ledger as though it Were a layer two uh which patches up the The crappy lir one Bitcoin blockchain Because it just doesn't work very well Um and so here's what attorney Deon said Let me be clear and transparent I am now Involved in spin the bits as an angel Investor and serve as its Chief legal
Officer therefore please accept my Comments with that in mind but a major Reason I invested in spin the bits or Stated more accurately invested in Jay Who is the founder spend the bits is my Sincere and honest belief that it is a Superior alternative to the lightning Network for spending your Bitcoin now Folks that could not be more obvious And and I'm telling you for real as much As I I I give Bitcoin trouble it's just Because I'm a realist it's not because I Hate I hold Bitcoin I bought more Recently for the first time in years I Even talked about that on the channel And I articulated why I did that not a Crazy amount but some more just kind of Topping off bags and such but like I Like Bitcoin but it has tremendous Shortcomings I want it to succeed though And here this will help with the Long-term viability the solution is Right here we don't need a lightning Network we don't need it And if they ever get it to work properly And without all these shortcomings great I'll be for that because again I'm Pro Bitcoin period that is it I just am I'm Pro Bitcoin I want it to succeed and it Is succeeding to this point in terms of Adoption more money flowing and all that Stuff but as as far as transacting Bitcoin you know using in place of fiat Currency use The xrp Ledger for that use
Spend the bits for that John Deon is Correct and I'm telling you if this Really takes off in a massive way on a Massive scale As and it should by the way because this Is the actual it's just not well known It's just not like you know about this You're listening almost no humans on the Planet and almost no humans in the Bitcoin Community even know about this Because they hate xrp and The xrp Ledger So much and and once you tell them to Their face they won't they'll be very Skeptical but it does work and it is True and then we have this because look It's stupid to be a maximalist of any Coin and thankfully there's almost 0% Maximalists in the xrp community there's Almost none of us that are maximum very Rarely over my nearly six years in Crypto have I come across a an actual Xrp maximalist and then I I when when I Come across I'm nothing on a personal Level but I just look at that I'm Shake Him I had the same way I do at at a Bitcoin maximalist I'm like what is what Are you thinking there how does that Make there one coin to rule them all Like what are you kidding me I love xrp As much as the next guy if not more I Mean it's my largest individual crypto Holding for many reasons I couldn't be More Pro xrp but to be a maximalist of It come on man you lose me on that stuff
But uh you know Ripple's not either look At this headline from the Crypt basic Ripple CEO we believe xrp is efficient In many use cases but we are not Maximalists and I don't really want to Read the whole article I kind of just Wanted to touch on this and share share A Quote um and this this is directly from Ripple CEO Brad Gan house we own a lot Of xrp and we think xrp is extremely Efficient for many use cases not all use Cases we definitely are not maximalists We think that there's a place for Bitcoin there's a place for a lot of Other tokens and different use cases in Quote well there you go that seems like A reasonable approach that's my approach To crypto I don't need xrp to do Everything I buy other cryptos that Aren't xrp also I buy cryptos that have Layer one functionality for smart Contracts which The xrp Ledger doesn't And the xrp doesn't have to have that it Doesn't there's a place for a Cryptocurrency like X xrp that just by The nature of its incredible technology Is fantastic for payments in general it Doesn't have to be all things to all People and it can't be it can't be ever Let's be adults about This but my God it does just work and That's that's especially in 2017 when I Jumped in that was it was even more rare
Back then now back then there were only Like 1,700 cryptos or something like That when I jumped in in like November 2017 it was somewhere around there and Now there's over 20,000 Cryptocurrencies and I was just like huh I found one that that actually just Works and it makes business models Possible that add value to the world That couldn't exist but for this Technology and that's when I had my AA Was like but that doesn't mean I think Xrp is the only cryptocurrency that Makes sense and so I'm glad Ripple's not Like that either because look you are You might as well operate in life with One one hand tied behind your back if You're going to operate under this Premise of no just one coin Works Whether it's Bitcoin or whether it's xrp Or whatever you're Maxim most of you You're not helping yourself and you're Interested in complete Nutter denial you Have even if you genuinely believe what You're saying you have you have you've Done a very poor analysis of the state Of things a very poor analysis that is Just not case there's not one cry one One crypto that will rule them one coin To rule them absolutely not I'm not a Financial adviser 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 Lambo
