On Thursday (8 December 2022), Matt Hamilton, a former Principal Developer Advocate at FinTech firm Ripple, explained why $XRP has such a loyal and passionate community.
It all started when Sasha Hodder, Founder of Hodder Law, “a firm dedicated to helping clients grow their business in the cryptocurrency field”, asked on Twitter even though $XRP’s performance against USD over the past five-year period has not been that impressive.
Hamilton, who is currently Principal Developer Advocate at Protocol Labs, still spends time on Twitter helping to clarify confusion around XRP and XRPL Ledger. So, he took this opportunity to explain to Hodder why $XRP has such “loyal” fans:
“1) that is a chart of XRP not Ripple 2) you can pick whatever timeframe to suit whatever narrative. Over long enough timeframe XRP is pretty much on par with Bitcoin 3) most people invested in XRP are interested in actual utility not just ponzinomics of something like Bitcoin.“
Here is what OpenAI’s ChatGPT says about Ripple and XRP:
“Ripple and XRP are often used interchangeably, but they are actually two different things. Ripple is the name of the company that created the digital currency XRP. In other words, XRP is the name of the actual digital currency, while Ripple is the name of the company that created it…
“It has a loyal fan base because it has a number of features that make it appealing to users. For example, transactions made using XRP are generally faster and more cost-effective than those made using other digital currencies like Bitcoin.
“Additionally, Ripple has partnerships with several major banks and financial institutions, which has helped to increase its credibility and adoption. Overall, XRP’s combination of speed, cost-effectiveness, and partnerships with well-established institutions has made it appealing to many users.“
On 27 November 2022, Hamilton said that “in the early days of Bitcoin Talk you could earn 5 BTC by posting FUD that XRP was centralised and a scam, and that this is “the source of most of the disinformation spread about XRP to this day.”
He went on to say:
“Yeah, someone was DMing a bunch of people on there and offering them 5 BTC if they posted some specific FUD about XRP saying it was centralized and a scam. If you look through the old posts you will still see discussion of it at the time. The brain rot of BTC maximalists.“
The following thread (dated 22 May 2013) from Bitcoin Forum (originally founded by Satoshi Nakamoto, the pseudonymous inventor of Bitcoin) explains what Hamilton is talking about:
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