“XRP DIDN’T TAKE OFF LIKE BITCOIN”, Fmr. Ripple Director RESPONDS To Assertion

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Hello this is Matt on the moon family Sedan Channel and here's a headline from Crypto media Outlet to you today former Ripple director explains why xrp didn't Take off like Bitcoin So this is an interesting topic and I'm Not going to read the article I'm going To go straight to the source of what Resulted in this article but there's Somebody who clearly is not a fan of xrp And ended up asking this question why Didn't xrp take off like Bitcoin well it Depends on what you mean by that so in This case I think the question came from Somebody who clearly although I didn't At least from the few tweets that I saw It didn't seem as though this person was Being trolley maybe they were troll but I didn't I didn't get the that sense Purely from what I've seen to this point But even to ask that question it's like My God why didn't take off like Bitcoin Well only one cryptocurrency there's Over 20 000 different cryptocurrencies Only one can be number one in market cap Out of the over 20 000 different Cryptocurrency so to even ask that Question it's kind of silly Um but in terms of did xrp take off Yes yes it sure as hell did in fact xrp Is one of only three cryptocurrencies in Existence out of again over 20 000 Cryptocurrencies it's one of three in Existence that has always been in the

Top 10 cryptos by market cap so to State Anything along the lines of why isn't it Taken off like so and so I'm just like Ah to what degree is that a genuine Question to what degree is it it's one Of the most adopted cryptos on the Entire damn planet and I get it most Humans aren't into crypto but still 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 it 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 where's this stem from Well there was a thread uh it came out a Few days ago from Molly Elmore and um You may recall that she's one of the Individuals that was uh pushing one of The valuation models out there um I Haven't seen unless I missed it I guess I could have it was a value evaluation Model for xrp that was put out and I was Told that there's going to be you know That camera is five or six more coming Out with different assumptions than Parameters and so over but the first one Um resulted in them anticipated based on That model that each xrp was going to be Valued at over 122 000 each and I made About a 35 minute video uh respectfully

Breaking down why it's a fatally flawed Model and so not to get into that but to Molly Elmore after that uh was talking About this idea basically you know Intrinsic value of xrp and coins that Are tokenized on The xrp Ledger and so Not I don't need to go through ahead to Kind of share these ideas I actually Thought about it a few days ago sharing It is in the thread because I actually Do find the topic really interesting Totally worth talking about this idea of Like do does any cryptocurrency have Intrinsic value does it have this innate Value And I'm willing to be persuaded on that Topic it's it's because to me you know What it honestly is to me it's more so Coming to this idea Like are we agreeing sufficiently on the Definition of what it means for Something to have an intrinsic value Because You know what a more interesting Question is is is something valuable Intrinsic or value or not no no is it Valuable because even if I'm willing to Agree that a cryptocurrency no Cryptocurrency xrp or otherwise has no Intrinsic value It's still valuable so then why do I Care if a cryptocurrency or any Cryptocurrency has intrinsic value that

I think it's it can be a fun exercise to Talk through and it still would be I'm Willing to be persuaded but the what I'm Getting at here I hope you're picking up What I'm putting down is that when we're Deciding whether we're not or trying to Agree upon whether or not a Cryptocurrency you know it does or does Not have an intrinsic value we're trying To agree on whether or not it applies to A specific definition But whether or not something is valuable In general is a separate question and More important I would argue that and The question as to whether or not xrp is Actually important is it valuable yes so Unequivocally the answer is absolutely Yes to that point Um so but so then if we're talking about What Molly Elmore brought up here is It's you know intrinsic value I'm Willing to be persuaded so the way that I approach stuff in life is that of a Skeptic just in general and when I try To come to conclusions about anything in Life Um and certainly as I articulate them on This channel uh if you've been listening To me for a while you may picked up on This this is the way I approach Everything in life honestly and I think It's the right way to approach stuff is Uh having various degrees of confidence For various ideas

And so when it comes to xrp being Valuable in a number of other things uh I'm as close to 100 the answer being yes Is possible when it comes to intrinsic Value I I somewhat lean towards no Actually but I'm willing to be persuaded Now I'm always technically for sure Totally willing to be persuaded and not Have my my mind change it just has to be The case that if I've done sufficient Research and spent a boatload of time Thinking about something you know I get To the point like okay I've reviewed as Much the information out there as I Could possibly come across I'm pretty Confident this is one of those things Where I'm less confident and that has to Do with the degree to which I put Information or you know put my own Effort into you know trying to fit like Does the idea of a cryptocurrency fit Into this box of this definition and so I'm less convinced on that and that's Why I'm saying like so when I say Something like I'm willing to be Convincible yes technically I always am But it's more likely that I could be Persuaded here which is why I stated That because I haven't finished thinking Through that and I love this dissenting Viewpoints I love it when I speak to People who have an opinion different Than mine as long as they're being Respectful because sharing ideas well

That that's useful you know if you can Explain to me why I'm wrong about Something that's awesome for me Personally so that I can stop being Wrong about the thing so you know as far As whether or not there's intrinsic Value I could totally be wrong I'm Leaning towards no but is is a crypto Asset valuable like actually hell yeah Question unquestionably and so Molly Elmore wrote in part is the value of xrp Different from another token on The xrp Ledger that depends on the definition of Value this question is important to the Idea of all the money moving to the Blockchain and and I don't want to go Through the whole thread I don't think It's necessary to kind of share the Necessary relevant ideas for this Particular video but Matt Hamilton uh Retweeted that and he did disagree and He was one of the people that along with Me was pushing back against this idea Which I do think is a fantasy land thing And I do not say that to be insulting But this idea of 122 000 xrp where all The value on the planet moves to The xrp Ledger that's Fantasyland nonsense stuff The idea I'm not attacking any people That stated they they seem like the People I've seen they don't seem stupid You know they don't seem like they're Mischievous I don't think they're doing Anything wrong I just think they are

Wrong I just think that they're wrong on This particular topic Uh but they seem like nice people so far As I can tell right Um so again that Hamilton was pushing Back against that idea as well and then He saw this and he disagrees and so we Wrote again more misinformation a Tokenized asset is not the same Intrinsic value as the native asset on a Blockchain Yes they are both just code but xrp has No counterparty and its value is not Derived from any underlying external Asset unlike tokenized gold or oil and So uh what he's talking about there Obviously is xrp uh nobody controls it You know there's there's no sort of Central Authority there it's not batch By anything it has a price uh you know An open market price thanks to Market Participants speculators and in terms of Value that just has to do with Usefulness as people see fit to apply to Various applications all sorts of Entities developing on top of the xrp Ledger have their various use cases Rippled on-demand liquidity spend the Bits you know helping Bitcoin move Around faster tap Jets uh you know Solving the Friday nights problem so you Can actually move money outside a Regular bank there's all sorts of Businesses that have uses for xrp that's

That's certainly true here but if you're Talking about issuing a token on The xrp Ledger because it you can issue I use it As a built-in decentralized exchange Awesome some stuff Well that's a central Authority that's Creating that so the degree to which That would ever be decentralized Debatable certainly that's a fair debate Actually it's a fair discussion but when You create something You know There's clearly there's a central Authority that did that and is in charge That's far different from xrp right and So Um again Matt Hamilton says that this is Just misinformation and Molly Elmore Responded and said this is why I was Clear the intrinsic value is the same But the perceived or derived value may Be very different semantics are Important in this discussion and then Matt Hamilton did respond for more rip On point he said the level at which the Intrinsic value is the same is the same Level at which you might say xrp and Bitcoin are the same yeah okay and so in A fair enough Point certainly obviously If you're especially if you're talking About the native asset on layer one Certainly you know that's more apples to Apples But this and again uh totally willing to

Have more discussion on whether or not There's intrinsic value just in a General sense and um you know this is One of those things where yeah I've Thought about it but it's one of the few Kind of like bigger picture things where I haven't you put even more thought into It because again the reason being I've Always found the question of is crypto Valuable more interesting than is there Intrinsic value that's the reason for it So maybe you've got an awesome argument Out there that I would find persuasive As to why there is intrinsic value at This point I'm leaning towards no but I Could totally be persuaded if you've got A really good argument so we'll let's Let's shelve that one for now and Actually if you do have a good argument Drop in the comment section below I'm Going to check that stuff out if you Think that my supposition that it's less Likely that there's intrinsic value if You think that that supposition is not Accurate totally would love to hear it I Absolutely would I love dissenting Viewpoints and I am far from being 100 Uh you know certain of my position on That particular topic now and the Question of is there value thatum is Close to 100 as possible yes there's Valuable there's value when it comes to Xrp specifically and other cryptos yes Unquestionably yes but now you have

Somebody who doesn't like xrp named not Smoking jumping in here responding to Matt Hamilton and he says you have Argued for years xrp and Bitcoin are Effectively the same question mark and Matt Hamilton responded they are not Non-smoking then responds and wrote okay I heard that xrp was created by Bitcoin Developers in an in an attempt to make a Better Bitcoin without mining with the Same principles I know that's quite Absurd and xrp have pivoted many times Since in trying to get a product Market Fit but never secured one so this is Somebody who Um and again at times with their opinion That's fine I I don't know for sure that They're you know I don't get the sense That they're necessarily being in Trouble I think they don't know what They're talking about to be honest with You they could be that could be wrong This could be somebody that's outright Trolling Um but Matt Hamilton responded to that And wrote indeed that is correct and the Part that he's saying is correct is Obviously in reference to the first part Of not smoking's tweet where he's he Where he's saying hey I heard that xrp Was created to be a better uh Bitcoin Effectively and Matt Hamilton is Responding to that party saying indeed That is correct and that's true David

Schwartz has talked about this uh you Know early developer on the Bitcoin Platform it's like uh yeah we just want To make a better Bitcoin we could see You know if adopted at scale Bitcoin Could have a host of problems including The you know the environmental impact The amount of energy used all this and So Matt Hamilton's like yeah let's Create a better Bitcoin and that is true And then he says in turn on this idea of Xrp pivoting which is just like a silly Way to word an idea it's at a minimum It's sloppy but you know the idea of You know xrp which is computer code Pivoting doesn't make sense you know It's it's more so how do humans use the Code that exists you know so it's a Weird sloppy way to even ask a question Or make an assertion anything like that But Matt Hamilton played ball and that's Fine and he said xrp hasn't pivoted it Is still a peer-to-peer means to Transfer transfer value And that's true in terms of what xrp was From the very beginning you know and Again the developers setting out to just Build a better Bitcoin yes that's Absolutely correct Still appear to Pure means to transfer Value in fact it's way better at it than Bitcoin is on a layer one at least That's for that sure as hell true and Then not smoking comes back and he says

Why do you why do you think it never Took off like Bitcoin so he's missing a Word there's he means ask why do you Think it never took off like Bitcoin Well again as I said at the outside of The video there's only one crypto that Can be won and so it depends on the Metric I mean because you could also ask why do You think Bitcoin never took off like Xrp and if you're not thinking about the Metric which is price you might think in Terms of actual usage and adoption and Utility in which case xrp has it Substantially more adoption and utility Than Bitcoin If you're talking about if you you know I mean it's true in terms of developers Building on top and finding real use Cases that's certainly true unless You're gonna come back and make the Assertion that all the transactions even Though they don't do anything else it's Just store value and somebody could try And make that argument fine but I would Just argue why is the xrp I'd come back And just say why is the xrp ecosystem Way more diverse than in terms of the Actual types of problems that people are Solving and attempting to solve compared To bitcoin so why didn't Bitcoin take Off like xrp I'd sooner throw that Question back at non-smoking than seed The point but if you want to have an

Intellectually honest conversation which Is my favorite type then if you want to Ask you know Yes you know if you want to get to the Heart like Why isn't xrp even more adopted than it Is to this point that would actually be A reasonable question because there are Actual real hurdles which Matt Hamilton Uh cites here And I'm a fan of Matt Hamilton so this Is not to be uh critical of what he's Asserting I'm just sharing like my open Honest genuine thoughts on the topic Here I kind of want to push back I love To compete in the arena of ideas I love Debates I just don't like arguments Because then it gets not fun if people Are getting their feel feels hurt and You can tell that they're being rude or Look they're a grown ass man that just Get butt hurt when they're child when They're challenged on ideas that stuff's Not fun here but but that's why what I'm Saying here is you know of not smoking Saying something like that I didn't Intellectually push back and so it seems Here like and this is not to be I'm a Big fan of Matt Hamilton is not to like Be harsh against him whatsoever but um To some degree it seems like he kind of Seeded a little bit of ground here and Accepting the premise that xrp hasn't Taken off and again if you're looking

Purely a price well it's a silly thing To even ask because there can only be One and why didn't it take off like Bitcoin well because Bitcoin was the First mover and and Matt Hamilton did Cite that and that is true so he's Talking purely about price then I agree But then there's other ways to look at It you can kind of twist it and with Somebody like non-smoking Again I I don't suspect he's a troll he Could just be wrong or be you know Ill-informed but I'd still push back you See what I'm saying somebody Matt Hamilton responded and said Bitcoin had First mover Advantage The xrp Ledger was Ahead of its time No one understood what a decentralized Exchange was or tokenization back in 2012. plus the early paid flood campaign From bitcoiners against xrp and the Fencing casing and triple slowed a lot Of things And that's all true and so that's Obviously a very intellectually honest Response in terms of why as an xrp even Adapted to an even greater degree than It is now and it's still Again by pick Your metric just pretty much any metric I can think off the top of my head it is One of the most adopted cryptos on the Entire planet and some of those metrics More so adopted than Bitcoin even and I Do think that's fair I'm Pro Bitcoin by

The way holding Bitcoin since 2017. I Want it to succeed and I think it will Actually increasingly so I think it's Going to going to have a truly long-term Viability for a number of reasons But yeah as far as the fencing case and I think that went down if memory serves In 2015 Um Fair enough that certainly slows down What Ripple is doing which impacts you Know to whatever degree broader adoption For that certainly for that particular Use case of extra piece of bridge Currency Uh you know ripples happenings you know The way they're developing building on Top of the xrp Ledger and then as far as The flood campaign that's certainly true Now a lot of you will be aware of this But there may be many of you out there Who are not aware but uh this is a real Thing it was in Probably the first part of 2013 if I'm Not mistaken we're on a Bitcoin forum There was some somebody I don't know who The party was that did this but they Were literally paying if memory serves I Could be wrong on the dollar figure but I think that they were offering Was it 500 a pop To say bad things say that that xrp is An outright scam Like there's an absolute fear

Uncertainty dot flood campaign from Certain Bitcoins I I don't know who I Don't know if that was under ever Uncovered but it was against xrp so Certainly that would slow things down if You're somebody new it's already hard Enough 2013 is a new asset that's been Around several years hard enough to get To the truth they have somebody saying Something that's new to the scene is an Outright scam and xrp has minimal to no Track record effectively at that point Well that would slow things down Especially in an environment that's so Nascent I mean sure I say you know Crypto's nascent out and I believe it But even more way more so than it wasn't Even clear the ass asset class in 2013 Was going to cease to exist if you fast Forward a few years so you have Something like that And then yes the decentralized exchange To what degree was that adopted well in The earliest of years almost not at all But that doesn't mean it wasn't useful And people are understanding how Tokenization can be useful and Understanding that it makes sense to Tokenize all sorts of things including Real estate and art and you know music All sorts of stuff all sorts of stuff And there are there are actual benefits To that especially when it comes to Transfer of ownership you can take out

Middleman music so it's it's obvious That there's real utility here but That's another thing that would slow Down actual adoptions people not Understanding so Matt Hamilton's hitting The nail on the head here that's why I Hope I hope I didn't come across as Overly critical or anything like that That was not my intent I don't think I Did I hope not but that's why I wanted To say that too he he is right I just More so when I was saying what I'm Saying it's more so like I want to push Back against this narrative because if You read that question it might start to Get people thinking in the direction of Xrp is not adopted it's not it's not Sufficiently well no if that's the Intent or to get people thinking in that Direction that's where I got to push Back that was more so I was getting at There So lots of fun interesting stuff to Discuss and I'm always willing to be Persuaded but in terms of again this Intrinsic value thing uh my mind's Honestly not fully made up but that's Mostly because I know I've been in Crypto over half a decade it's not I Haven't thought about I have and it's Not that I don't lean away I do lean Away I already told you what I'd lean on that Topic it's more so that in terms of is

There or is there not value I think That's a way more important bigger Question and I have endlessly thought That through that would be a really hard One to persuade me but if you're talking About meeting the definition of Intrinsic value I've kind of just been Like when I look at my eyes kind of Glaze over a little bit it's not that There's no interest just like We're talking we're it's it's so Definitional when it comes to that I'm Just like so and but anyway it said There's no interest so I would like to Hear from you tell me what you think but I'll stop you ever I'm not a financial Advisor you should not buy yourself Anything because of anything I say right That would be a very very very bad idea Until next time to the Moon family sedan

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