Bitcoin Educator Contrast XRP with Bitcoin
On 18 December 2023, Bitcoin educator Rajat Soni shared his thoughts about XRP on social media platform X, comparing it with Bitcoin, labeling XRP as a scam and asserting that banks would prefer USD or Bitcoin over XRP. He pointed out XRP’s lack of decentralization, attributing it to Ripple Labs’ development role, and suggested banks’ reluctance due to potential exploitation.
He noted XRP’s supply concerns, Ripple’s control over XRP, its vulnerability to legal actions, and a potential U.S. ban that can reduce its value to zero.
Panos Mekras’s Rebuttal
In response, blockchain consultant Panos Mekras strongly rebutted Soni’s claims. He criticized Soni for his lack of basic research despite his credentials and experience in the financial industry. He urged Soni to educate himself, providing a link to the XRP Ledger website for accurate information.
Positive Analysis on XRP
On 14 December 2023, Mekras explained why he is long on XRP, emphasizing its efficiency, the XRP Ledger’s decentralized nature, and its legal clarity in the United States.
He also highlighted the disparity between XRP’s current market capitalization and its perceived potential, the XRPL ecosystem’s evolution and innovation, and the rapid growth of projects building on the XRPL.
Hot Take
Panos Mekras’s detailed defense of XRP, emphasizing XRP’s efficiency, decentralized nature, its legal clarity in the United States, and the growth of projects building on the XRPL, provides a contrary view to Rajat Soni’s negative assertions about XRP.
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