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Hello this is Matt on the moon Lambo Channel let's take a little stroll down Memory lane but not just that because Some secrets were revealed today so I'm Going to cover two stories with you in This latest Moon Lambo Hot Jam which I Think go together like spaghetti and Meatball I'll start with this one from The crypto basic Ripple CTO reveals Reason why currency was named xrp and Then there's this from coin Telegraph And I didn't suppose that something like This was likely to come out but very Cool stuff uh the headline here newly Released Satoshi emails reveal a Treasure Trove of early Bitcoin lore now Even if you're not that interested in Bitcoin and frankly I'm I'm kind of Mildly interested not that interested I Hold it I want it to do well I care About it I appreciate it all that jazz Uh there's one thing in here in Particular I'm going to highlight which I think all of you are going to Appreciate because it highlights the Ridiculousness of those stupid ass Bitcoin Maxi Trolls but before going Further I do want to be clear I do not Have a financial background of any kind I'm not offering Financial advice and You definitely should not buy or sell Anything because of anything I say or 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 into this First piece now I have talked about this On my channel before but at this point Frankly it's probably been years some of You may be aware of this but I don't Know what percentage of people in our Community actually know why xrp is Actually called xrp anyway peace reads As follows Ripple's Chief Tech Technology officer David Schwarz has Explained the process behind naming The Xrp Ledger native currency xrp this came In a commentary posted to the crypto Community on Reddit Edward finina head Of social adoption for xrb healthcare Recently spotlighted schwarz's analysis On X and I'm just going to pull this up No need to read the rest of the article But this is cool stuff and um and by the Way I will mention this as well xrp was Not always known as xrp when xrp was Created in June of 2012 it was actually Called Xns and you know what I've now forgotten What the rationale for that was I um I Asked David Schwarz I ended up getting An answer I'll have to pull that up in a Separate video that just occurred to me Right now after I hit record so I can Talk about it another time but um but Yeah xrp actually was called xns and Then was renamed and all of it actually Kind of makes sense because you know
When when it comes to what resulted in Xrp the and The xrp Ledger being coded The way that it was it had to do with an Idea from a guy named Ryan fuger uh who Came up with an idea in 2004 about Basically an IOU system but this is you Know this predates Bitcoin predates Cryptocurrencies and I don't want to go Too off the rail so I'm not going to get Into it any further in this video but um That payment system in I think it was 04 Was called uh it was called Ripple so They just they they took the name Because they were trying to use that Concept and put that into xrp and this This is before Ripple the company even Existed and so where things get Confusing and you know in hindsight we Can be like yeah well you kind of mudded The waters because what Ripple did Ultimately was they already had xrp and You'll you'll see that Ripple's a part Of that it just is it's part of the History it just is uh they then had Opencoin and new coin and then Ultimately renamed Ripple the company to Ripple which then you have like a a Cryptocurrency named Ripple you have the Company named Ripple caused confusion Not exactly the best idea in hindsight But you know it was early days I'm not Going to give them tooo much grief over It and since then obviously anybody That's operating in good faith obviously
Distinguishes between xrp and ripple Which are two distinct and different Things but here's the history right on Your screen let me read this to you this Is directly from David Schwarz one of The creators of xrp and The xrp Ledger Three-letter currency codes are formed By appending A Single Character to the Two-letter country code of the issuing Country since the United States country Code is us US Dollars have the currency Code USD some non- countries still have Country codes the EU has the country Code EU so the currency code for euros Is EU of course xrp is not issued by any Country for assets not issued by any Country the first letter must be x no Country code starting with x will be Issued so for example since the chemical Symbol for gold is a U Gold's currency Code is X Auu some people use BTC for Bitcoin but People who care about standards use Xbt and so pause to think about that he Said some people use BTC to be honest With you at this point in time and he he He typed this a long time ago mind you But Like everyone uses BTC it's like it's Almost like the standards out the window The more time passes people like yeah But it's BTC that's what's what's being
Used now it's not exclusively being used Used as I'll highlight in just a second But anyway let me finish what David Schwarz wrote here xrp's first letter is X because xrp is not issued by any Country in the early days we called The Ledger native asset ripples so the Natural currency code to choose was Xrp I don't think anybody calls them Ripples anymore but I have heard zurs And so that's how ancient this is cu I Don't even really see people calling Them xrp Zer anymore I mean I wouldn't Say it's completely gone but my god when I jumped into uh the xrp community in 2017 tons of people were calling xrp Zerbs you rarely see it now and I'm Assuming the people that have jumped in Within the last couple years might not Have even heard that before but yes uh Xrp affectionately called Zs for for a Long period of time here but uh yeah It's actually just xrp so what about uh Bitcoin BTC or xbt actually both if you Google xbt this is what pops up for you Bitcoin here you can see I'm circling it Right here on for those you looking Anyway that's Bitcoin price at 50,9 180 Buckaroos and uh it's xbt so it just Depends on where you go but I just Despite the fact that these have been Standards long-standing for some period Of time I'm not convinced that people Sufficiently care at this point but it
Is interesting like this is like I said A little trip down you know memory lane And a little bit of history but that's Why xrp is called xrp Ultimately but we had some more historic Stuff here and this I rather enjoyed I Think you're going to like this too even If you don't really care too much about Bitcoin um just look at the headline Again newly released Satoshi emails Reveal a treasure Trove of early Bitcoin Lore yes they do and they also present An opportunity to laugh at the stupid Ass Bitcoin Maxi trolls anyway piece Reads as follows a Litany of insights Into the early days of cryptocurrency Were recently revealed when Bitcoin Creator Satoshi nakamoto's earliest Collaborator Marty Maly published 120 Pages of email correspondences between The two on GitHub on February 23rd and So I will say for historical purposes I'm glad that this was done I think it's Something that's important it's Interesting it's useful All That Jazz um I'm kind of surp I didn't know there was A treasure drove like this so to speak After all these years sitting around I Mean you're talking about emails from 13 To 15 years ago it is cool stuff like if I mean if you are into cryptocurrency I Hope you can at least even if you're not That excited about uh bit at this point I hope you can at least in some on some
Level appreciate this I think it's Really cool stuff here because this is Where it all started without this stuff Happening we wouldn't have xrp we Wouldn't have all the other altcoins That we hold anyway pece continues the True identity of Nakamoto remains a Point of conjecture throughout the Greater cryptocurrency and blockchain Community however the emails recently Published on GitHub by Mali were Initially introduced as evidence in a London court case brought by the crypto Open patent alliance against Craig Wright who has claimed to be Nakamoto Based on coin telegraph's cursory Examination of the emails there are no Smoking guns or Telltale Revelations That would immediately shine a light Satoshi's true identity but for Historians and Bitcoin lore enthusiasts The emails include many Fantastic quotes And a general air of Satosi that that same straightforward Simple yet comprehensive non-nonsense Style that permeates the Bitcoin white Paper while it's long been posited that Satoshi themselves came up with the term Cryptocurrency one email sent to Mali on June 11th 2009 appears to poke a major Hole in this Theory and so a couple Things interesting here um Satoshi Themselves so this is making the Assumption which it very well may may be
True uh that it's so Satoshi nak not one Person could be a group of people um Unless it's an attempt to not gender but That whatever I'm not even going to get Into that but um uh but uh what's Interesting here to me anyway is where The term cryptocurrency come from how Does it apply to bitcoin or not apply to Bitcoin right and so perosi quote Someone came up with the word Cryptocurrency maybe it's a word we Should use when describing Bitcoin do You like it end quote to M's credit he Responded that it sounds good and that's A quote from him and added that it Sounded more interesting than digital P2P Cash peer- toer Cash okay but they Didn't highlight the truly most Interesting part which was shared by Chart analyst crypto Ceser because it's pretty clear that Satoshi Nakamoto ended up deciding yes That is the term it makes sense per of Yep absolutely it's a cryptocurrency and This is important for and so the part That's makes full screen reads as Follows announcing version 0.3 of Bitcoin the PTP cryptocurrency so Literally Satoshi Nakamoto uh calling in 2010 a Bitcoin a cryptocurrency in 2010 The earliest of days here Right but um did you catch up on the Recent Trend that's been going down and At least for the last I don't know two
Three years it seems more prevalent Anyway the the toxic Bitcoin maximalists Out there say no Bitcoin is just Bitcoin It's an asset class it's not an asset That is part of an asset class it's an Asset class and it's not a Cryptocurrency that's all the other crap Out there have you seen this narrative It's bogus BS nonsense C but again these People are living in an echo chamber Smelling their own farts like that's What they're doing right it's stupid as Hell but that's that's it Bitcoin is the No you idiots they actually say this and They believe it because they're just so Toxic and full of themselves and um and So Bitcoin they're now arguing is not a Cryptocurrency it literally by Definition is a cryptocurrency literally By definition an Satoshi Nakamoto said So in 2010 before they had ever never heard of It and so crypto Caesar was pointing This out and he said the next time a Maxi says Bitcoin isn't crypto refer Them to exhibit a an email from Satoshi Referring to bitcoin as cryptocurrency And that's true now the reason this is Funny and why I like to make fun of These stupid ass people is because when I jumped into crypto in 2017 this was not the claim I hadn't Seen this claim from any toxic Bitcoin Maximalist in fact it was literally the
The opposite They were claiming that Bitcoin was the Only cryptocurrency and that everything Else that was in Bitcoin in 2017 anyway Everything else was in sord coin Bitcoin Was the only true cryptocurrency and I Don't know how it flipped but it flipped From bitcoin's the only cryptocurrency To no everything else is those are the Cryptocurrencies bitcoin's an asset Class it's not a Crypto does it use cryptography as an Under pending in the system do does it Do that freaking idiots yes like come on It's it's Hilarious so anyway it is what it is and So I wrote back into him I said uh I Said when I when I jumped into crypto in 2017 that the Bitcoin Maxi said Bitcoin Was the only cryptocurrency my how times Have changed and he responded to me and Said yeah a little bit but not not much Still 10% quality 90% dog sord so he's Getting off the rails there that I think He's I don't even know what he's trying To get at honestly when he said that to Me um I mean I would agree that most Other cryptocurrencies are crap but um I Think it might be because you might be Aware that uh I'm Pro xrp and my Understanding is he is not particularly Pro xrp and that's fine I don't care Like people don't need to like the same Cryptos as me but um if he says yeah a
Little bit in 2017 no exclusively in 2017 like I would challenge you there Would be an outlier even if you could do This but I would challenge you to find a Post from any Bitcoin maximalist in 2017 Who says uh Bitcoin is not a Cryptocurrency everything else is a Cryptocurrency find that Prove it document it it was everyone Dude like if you can find an outlier Fine I'll accept that but then we'll Have to go and find 10 more that say the Opposite which would be easier to find Obviously anyway it is what it is so This is all interesting Stuff um it's just it is like again for Historic precedent I enjoy this but I Also despise maximalism so much I just Think it's destructive within the world Of crypto so much that I want to make Fun of it and I'm going to do that ex Absolut always 100% of the time I don't Care what the coin is it's not about Being against Bitcoin I'm Pro Bitcoin Been holding it since 2017 I just think It's stupid St t o o p i d Stupid anyway the piece continues here Mali's email correspondence also Demonstrat satoshi's keen understanding Of anonymity what it meant and what the Risks of misinformation could mean for Bitcoin and this is interesting check This out this is what Satoshi had to say About this and I think it's a a
Reasonable thing because again nothing Like this had ever been done before Coming out the gate people don't know What the hell this thing is it's legit To have this this concern and so here's What he wrote I think we should Deemphasize the anonymous angle with the Popularity of Bitcoin addresses instead Of sending by IP we can't give the Impression it's automatically Anonymous It's possible to be Pseudonymous but you have to be careful End quote yeah and so obviously that is The case you be pseudonymous but not Completely Anonymous because it can be tracked and You can you can link from one account to Another where transactions are going and Kind of back your way into okay where Did this originate Which is why obviously using a Cryptocurrency like Bitcoin for Nefarious purposes pretty stupid again Spelling St o LP Stupid the email continues to Essentially predict the rise of Blockchain forensics quote if someone Digs through the transaction history and Starts exposing information people Thought was Anonymous the backlash would Be much worse if we haven't prepared Expectations by warning in advance that You have to take precautions end quote On and I think that's wise and it's it's
A Salient point so Satoshi was thinking This stuff through obviously uh and yes And people if people were led to believe That it was actually Anonymous when it's Definitely not Anonymous uh yeah Probably be pretty upset if you find That to the contrary now of course if You're still doing illegal stuff then Well sucks to be you I guess just you Shouldn't have done the illegal stuff so I'm not going to have that much much Sympathy but either way even if it's not That even if it's not about doing Illegal stuff maybe it just really value Your privacy yes getting the messaging Out there actually crucial and these are Things that we take for granted that That we just understand you know today Was not the case back then this is the Advent of the cryptocurrency asset class Which Bitcoin is a part of whether the Stupid ass toxic Bitcoin Maxi trolls Like it or 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
