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Ex-Ripple Exec Confronts YouTuber Mark Moss in Defense of XRP

Sun, 04/02/2023 - 14:31
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Gamza Khanzadaev
Matt Hamilton challenges famous YouTuber's thesis against XRP community
Ex-Ripple Exec Confronts YouTuber Mark Moss in Defense of XRP
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Former director of developer relations, Matt Hamilton, has challenged popular YouTube blogger Mark Moss on the subject of XRP and Bitcoin (BTC). Moss initially questioned the bullish thesis of the XRP community, tied in his view to the theory that the cryptocurrency would be in demand as it "helps banks transfer money faster." Instead of accepting freedom money, Bitcoin, they opt for XRP, the blogger facepalms.

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In Hamilton's opinion, however, Moss does not fully understand XRP, which is what he asks him directly. As the former Ripple official himself explains it, XRP is needed to move value precisely without banks. That is the whole point of cryptocurrencies, Hamilton concludes his address.

XRP, Ripple and banks

At the same time, the notion that banks or other large financial institutions need XRP is also crazy, according to Moss. Why would institutions like the Fed or IMF use XRP when they could just create their own counterpart like FedNow, the blogger asks.

Bitcoin (BTC) Under Satoshi Nakamoto Could Have Been Security Too: XRP Holders' Lawyer

Some followers expressed frustration with the opinion and accused Moss of encouraging disunity in the crypto community at a time when the industry is under increased pressure from regulators.

In contrast, the YouTuber said that uniting the crypto community should take place around technologies that encourage private ownership and the power of people, like Bitcoin. BTC is your own bank and XRP is for banks, Moss concludes.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.