More

    Anthony Pompliano's Podcast Talks Unhealthy Ripple Community and XRP Price Manipulation

    Founder The Block Says XRP Community Is Unhealthy, Accuses Ripple Team Of Price Manipulation

    During a podcast with Pomp (Anthony Pompliano) recently, the founder of The Block, Mike Dudas noted that the Ripple Community is unhealthy.

    One of the topics being discussed during the talk was crypto-community spaces, whereby the duo dissected the issue, looking at both the good and the bad. Mike Dudas said that:

    “In the crypto ecosystem, people come with, and you’ve heard this before, I’m not saying anything particularly novel in this area, but with almost a religious belief and an anchoring and a strong bias and as strong a tribal nature to associating with specific projects as I have ever seen.”

    Mike, who’s also a Bitcoin maximalist, considers Bitcoin and Ethereum to be great examples of good community spaces, saying that a lot of developers are going towards Ethereum.

    However, Mike Dudas was quick to state that, while some fan bases come across as great, some could be an outright curse. He has seen plenty of “unhealthy communities” in his experience, and that of Ripple is one of them. He was quoted saying that:

    “The obviously canonical example of that is Ripple. Ripple has a centralized structure. Ripple Corp basically says, “hey, we put our tokens in escrow” but still, you know they’re obviously under their control and they’re released over a period of time.”

    And when it comes to bots, he said that Ripple has a lot of real people who genuinely support the project, but there’s also tens of thousands of bots associated with it. He further stated that the corporate team have exceptional professionalism and are talented, agreeing that the project is backed by individuals striving to see it succeed.

    Ripple Encouraging Unhealthy Strategies

    However, Mike could not help but accuse Ripple’s team of encouraging its prominent tweeters to pursue what he called “mini-celebrity game”, adding that such kind of strategies were unhealthy even if they are meant to support the XRP token price.

    Mike wrapped up the discussion by answering a question by Anthony Pompliano about how companies big as Ripple could drive value to themselves. He said that:

    “I think one way that they could basically eliminate all doubt is to say, “hey, instead of compensating ourselves in this token XRP” — which the founding team has, the leadership has and David Schwartz has. They could choose to basically renounce those tokens. And take more value in the equity of Ripple the corporation, which clearly has a connection to XRP the token. But it would reduce questions, as to whether there are ulterior motives when they are announcing things. That’s just one simple thing.”

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,368FansLike
    2,785FollowersFollow
    4,136FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Binance CEO: Once QE Money Starts Flowing, BTC's Price Will Go Up ‘Very Dramatically'

    “Since coronavirus took over, business-wise the platform is doing really well” - CZ COVID-19, QEg, depression, and countries printing a lot of money...

    South Korean Central Bank to Roll Out Pilot Program to Test CBDC Through Dec 2021

    On April 6, South Korea’s central bank has made the announcement that it started a pilot program for assessing the logistics of a central...

    Former Goldman Sachs Fund Manager Suggests Allocating 25% in Bitcoin

    When Raoul Pal, the former hedge-fund manager who founded Real Vision first learned the coronavirus was spreading rapidly, he thought, “The whole world's f---ed,”. "I...

    PwC Report Reveals 2019's Crypto M&A's Dropped Sharply; Total Value Decreased By 76%

    The 2017 market boom led to the new era of funding in the decentralized space called ICO, however as we entered the bear market...

    How Much New Inflow Bitcoin Needs to Stay at this Price Level?

    For the last 2.5 years, $400 million of new investment each month kept BTC price at $7,000, after halving it would require just...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.