RippleRipple Supporters Clap Back at Author for Calling XRP...

Ripple Supporters Clap Back at Author for Calling XRP ‘Completely Retarded’

-


  • XRP supporters strongly push back against Eric Yakes’ claims, defending its utility and decentralization.
  • The debate highlights the ongoing divide between Bitcoin maximalists and Ripple advocates over crypto’s future.

Amid recent criticism, as reported by CNF, that Ripple CEO called the Crypto Czar’s press conference a “100% big deal,” Eric Yakes, author of The 7th Property: Bitcoin and the Monetary Revolution, recently sparked controversy with a scathing critique of Ripple and its XRP token.

Yakes, author of The 7th Property: Bitcoin and the Monetary Revolution, dismissed XRP as lacking a legitimate use case, arguing that Ripple represents the exact problem Bitcoin was created to solve—the creation of “fake money” for political gain.

In his post, Yakes stated that he was forced to research Ripple for a speech at a traditional finance (TradFi) conference and concluded that its technology and tokenomics resemble centralized monetary issuance. Specifically, He stated that,

Ripple is precisely the problem bitcoin was created to solve: printing fake money for political gain

He further criticized Ripple’s role in remittances and central bank digital currencies (CBDCs), arguing that no one wants a volatile, centralized, and illiquid bridge currency when stablecoins or Bitcoin offer better stability.

Additionally, he claimed that XRP’s value is artificially propped up by banking partnerships and political lobbying and questioned XRP’s scarcity, stating that the ledger could be forked and that Ripple funds its expansion by selling XRP.

XRP Community Responds to Yakes’ Criticism

The XRP community was quick to defend XRP against Yakes’ remarks. Former Ripple developer Matt Hamiltonstepped in to clarify that Ripple and XRP are separate entities—Ripple is the company, while XRP is the cryptocurrency.

A user named Tsippes responded, pushing back against Bitcoin maximalists, stating:

So is this where a bunch of BTC folks come in and spread FUD? The difference is BTC will need XRPL eventually to play in this new financial system. XRP and XRPL are decentralized. A 3rd grader could figure that out. Ripple, however, and RippleNet are not. Two very different things.

The backlash from XRP supporters highlights the ongoing divide between Bitcoin maximalists and Ripple advocates, as debates over decentralization, adoption, and tokenomics continue to shape the broader crypto landscape.

As of now, Ripple (XRP) is trading at $2.46, reflecting a 2.40% increase in the past day and a 1.65% rise in the past week. See XRP price chart below.


Recommended for you:





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

This Key Resistance Could Prevent BTC’s Surge to $90K

Bitcoin has recently rebounded from the critical $78K support level and is now testing a significant resistance at...

Argentina Wants LIBRA Co-Creator and MELANIA Insider Hayden Davis Arrested: Report

Authorities in Argentina are reportedly looking to initiate the arrest of Hayden Davis, who was allegedly involved in...

Cryptocurrencies to watch this week: Binance Coin, Cronos, ZetaChain

Cryptocurrency prices rose modestly during the...

Advertisement

The 11 Best Amazon Echo and Alexa Speakers (2025): We’ve Tested Them All

Other Alexa (or Alexa Compatible) SpeakersAmazon Echo Pop for $40: The Echo Pop (7/10, WIRED Recommends) is a...

Cardano ($ADA) Founder Is Very Angry With Google! Over Misinformation

Charles Hoskinson explained how Google is spreading misinformation about him.SummaryCharles Hoskinson slammed Google for spreading wrong information about...

Must read

This Key Resistance Could Prevent BTC’s Surge to $90K

Bitcoin has recently rebounded from the critical $78K...

Argentina Wants LIBRA Co-Creator and MELANIA Insider Hayden Davis Arrested: Report

Authorities in Argentina are reportedly looking to initiate...

You might also likeRELATED
Recommended to you