Eric Yax – a legal financial analyst (CFA) and the author of the seventh monarchy: Bitcoin and the monetary revolution – published an explicit criticism of the ripples and the XRP symbol associated with February 10. As a co -founder and an administrative partner in EPOCH, he expressed his rejection of X with an unusually blatant and bound language of what he sees as important defects in proposing the value and rule of Ripple.
Yax Four Championships and XRP
Yakes opened it mail With a widespread attack on the basic nature of Ripple and its symbol, it announces that “Ripple is exactly the Bitcoin problem created to solve: printing fake money to achieve political gains.” He also emphasized that, from his point of view, the entire institution lacked the issue of use of legitimacy, describing it as “completely backward”, and claimed that he had to “waste an hour” to search for ripples before participating in speaking in traditional financing (Trafi) conference. In his opinion, he left this research convinced that the company’s technology and the symbolic economy are similar to a kind of central cash version that Bitcoin was designed to eliminate.
Yakx detailed the area in detail. He described the goals of the transfers and the digital bank of the Central Bank (CBDC) often associated with ripples as insufficient, because, in his words, no one wants to use the volatile, central and non -liquid bridge (XRP) “when the options are more suitable for transfers – such as stablecoins or Bitcoin – exists.
He also stated that “the only state of use is the deception of retail investors to pump the distinctive code price,” which is believed to have been coordinated through marketing partnerships with banks, as well as political pressure. He also suggested that the symbolic offer XRP lacks the real scarcity, and claimed that the professor’s book can be distorted at the will and that the Foundation sells XRP to finance political business schedules. Yix emphasized that these are exactly the types of issues that were supposed to coincide with decentralized Bitcoin, famously, “the entire problem has been created to solve bitcoin.”
His analysis continued to challenge the numbers reported in RipPlenet, describing it as small for other digital assets. He pointed to the total settlement settlement of the self -reported settlement of the Ripplenet of $ 30 billion since its establishment and its comparison with the daily rotation of the paper (50 billion dollars) and Bitcoin (40 billion dollars), and concluded that the Ripple demand for adopting on a large scale was a “deceptive game of smoke and mirrors”. He added that the banks want advertising a “press release” instead of the actual use of XRP, because it believes that XRP itself does not meet a real need in global transfers. He also described the Ripple network as central, noting that what he says is a unilateral closure indicates that there is no appropriate decentralized consensus.
According to him, the initial node operator interferes without wider coordination, and the limited number of auditors cannot really secure the network because they lack any financial incentive to operate the contract. Yakx confirmed his political argument by referring to what is seen as Ripple’s repulsion with some American government positions, saying that “its primary goal is to be the CBDC platform – he greatly opposes the executive order of the Trump administration that prohibits the Convention on Biological Diversity.”
In closing his position, Yix wrote, “If you want to achieve this corrupt group in favor of a politician to make SHITCOIN deserve something, you need to find a higher purpose in life”, leaving a little doubt about his personal position on both Ripple and ITS, the distinctive symbol XRP. Ripple’s executive officials have not officially submitted.
The XRP community interacts
However, the XRP community has not been lost any time in the response, as some Yakes statements immediately bear the wrong information. One of the most prominent responses came from Matt Hamilton, a developer who was once working on Ripple and also belonging to protocol and bittensor laboratories. Hamilton Disputed What he sees is the mixing of the company in the company’s ripp and XRP cryptocurrency. “Ripple and XRP are different things. One is a company (like a strike), one is an encrypted currency (like Bitcoin). Hamilton said:“ The stated goals of the transfers and the CBDCS agreement applies specifically to Ripple, not XRP. ”
Hamilton also retreated to the Yx point around XRP fluctuations, indicating that due to the stability of transactions on the Professor XRP book very quickly, the fluctuation factor is much less important than Yakes. In reference to the broader ecosystem on Professor XRP notebook, Hamilton pointed out, “You can use Stablecoins equally on XRP Ledger (Blockchain) if you like it.” He also sought to clarify some general accounts about Ripple partnerships, on the pretext that although early adoption is a common practice for young companies that seek liquidity, they do not nullify the benefit of the basic protocol.
When dealing with the technical aspects of the XRP book, Hamilton stressed that the professor’s book was not subject to a single -sided closure. According to him, the suspension of the network that occurred last week was due to the failure to achieve an immediate consensus, which he described as a designer response rather than evidence of central control. “The network stopped as designed because of its inability to reach a consensus. This was not a person” stopping it unilaterally. “Then the network resumed once capable of it.” He added that thousands of bitcoin contract were working without financial incentives Directly, which confirms that a similar principle can apply to auditors in other open Blockchain networks, including Professor XRP book.
Hamilton has also opposed Yix assurances regarding Ripple assets and political activities, saying that Ripple is already a US -based company, while XRP Ledger is a separate entity registered in Estonia now moves to France.
At the time of the press, XRP was traded at $ 2.48.
Distinctive image created with Dall.e, Chart from TradingView.com
