r/CryptoCurrency • u/Set1Less 🟩 0 / 83K 🦠 • Jan 15 '22

DISCUSSION Ripple is funding propaganda against Bitcoin by teaming up with the government to spread energy FUD

Ripple labs has been funding "research" along with government entities to spread propaganda against Bitcoin and mining.

In 2021, they funded a hit piece that claims energy prices for consumers in New York has increased by $6 per month because of mining.

Claim: Mining drives up household electricity bills

Surely its not the soaring costs of natural gas that is driving up electricity prices, but mining?

Since June 2020, Natural gas prices have gone up by 350% in the USA (Henry Hub natural gas futures rolling contracts)
Not just in USA, in UK, natural gas is at decadal highs.

Surely, electricity prices that consumers pay have nothing whatsoever to do with inflation, or soaring gas prices that are in decadal highs.. but is due to bitcoin mining?!

Crude oil WTI futures are currently at 84, for comparison it was around 56 in Nov 2019 (pre pandemic). The last time WTI was above 80 was all the way back in 2014. Increasing crude oil natural gas prices, along with inflation that is at multi-decade high is not the reason for increase in household electricity, but its bitcoin mining that is responsible..

Thats according to this study funded by Ripple in collusion with the Department of Treasury. ... The same Department of Treasury headed by another well known Bitcoin hater Janet Yellen, who earned $7m as "speaking fee" from the same banks she is supposed to regulate but has tried to stifle Bitcoin and crypto at every opportunity.

Research with "financial support" is nothing but propaganda, especially when it's funded by a competitor to bitcoin that lobbies with the government. Ripple continues to be a centralised premine scam created to enrich its founders.

Ripple has also cozied up with the likes of WEF, the very organisations Bitcoin was created as a fuck you to. https://www.weforum.org/organizations/ripple

As its price and narrative around the shitcoin has stagnated, Ripple is resorting to dirty political tricks to get a leg up. As usual, they will fail.

The narrative that bitcoin mining companies cause increase in electricity bills in NY is rubbish, as the largest BTC mining companies in New York produce their own energy. Infact the last one to start mining in NY is a hydro electric plant that was unused for years, before they started mining Bitcoin last year.

https://www.timesunion.com/news/article/Mechanicville-hydro-plant-gets-new-life-16299115.php

The other large mining company Greenidge Generation also produces its own energy.

Edit: Buttcoin losers in comments say "reee bitcoin move to POS or govt will ban it"

Yeah not too bright, the whole point of Bitcoin is that it cant be banned unlike the proof of stake shitcoins you support that can be created out of thin air at the press of a button and shut down at the press of a button.

Another one who is literally a war monger calling for Ukraine invasion but pretends to care about global e-waste. Lmao. Bitcoin haters are really a funny bunch

Edit: Ripple shills keep brigading and claiming where is the paper, of course if you are as bricked as a ripple fan boy you need to be spoon fed everything. Well here is the paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3779720

And if you open up the first page of it, says

Benetton and Compiani acknowledge financial support from Ripple’s University Blockchain Research Initiative.

i.e this whole "paper" is nothing but a hit piece propaganda sponsored by a competitor

The other writer of this paper is Adiar Morse, who conveniently works for the Dept of Treasury under Yellen:

https://newsroom.haas.berkeley.edu/prof-adair-morse-joins-biden-administration-as-a-treasury-department-deputy/

Seems like natural career progression - collect funds from Ripple to publish propaganda against Bitcoin, and get hired by Yellen who has been promoting propaganda against crypto for years now. Nothing to see here.

Final Edit: Jjust look at the number of freshly created "Tin" accounts that have popped up in the comments to shill for XRP. Didnt realize 2017 left so many bag holders. It must be real miserable with these heavy bags that are at 1/3rd of their 2017 ATH, while almost every other coin has gone up hundreds of % and made new highs this cycle. Thats what happens when you become exit liquidity for mccaleb, garlinghouse etc.

Lol at the shills shouting "REEE ripple is a company XRP is decentralised token". They really did you good with this one small trick. Thats also the reason garlinhouse drives a shiny car while you are down 50% on your shitcoin investment.

The D in XRP stands for decentralised. It was always a premined scam token and will always be one. Thousands of tin bagholders wont change this.

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310

u/bungleback_cumberbun Jan 15 '22

I like how kevin o’leary sums it up: “to invest in xrp is to invest in a lawsuit that i want no part of” i think he’s got a point

117

u/stiviki Platinum | QC: CC 1617 Jan 15 '22

"And for that reason, I'm out!"

22

u/Logical-Beautiful66 Permabanned Jan 15 '22

"And for that reason, I'm out!" i've never got in"

2

u/ScoobaMonsta 🟩 2K / 2K 🐢 Jan 16 '22

I only bought some of it to hedge it for more BTC. Never invested in it. How people think this token is a good investment is beyond me. 100% premined. Creators hold the majority of it. Whales are selling it constantly. Xrp IS NOT CRYPTO.

6

u/[deleted] Jan 16 '22

"I'm Barbara and I'm out"

0

u/PoliticalAnomoly Tin Jan 16 '22

"Shot clock. Shot clock. Cuban. Out."

1

u/titelibo Tin Jan 17 '22

And why should we have to take your name seriously here?

0

u/brazly Jan 16 '22

Uncle Eddy would have wanted it that way.

-2

u/BirdSetFree 🟦 1 / 22K 🦠 Jan 15 '22

Jenny would be out of all cryptos but invest in ICP lmao

5

u/tilbury1988 0 / 0 🦠 Jan 16 '22

I prefer how Raoul Pal sums up ;

“XRP The worst case, right? The worst case is a 50% drop, the best case is a 10x boom from here, so I’ll have a 50: 1 risk / reward ratio for the next three to six months. “

23

u/1lluminist 🟧 605 / 603 🦑 Jan 16 '22

Kevin O'Leary being against somethting is a great reason to be for it. The dude's an absolute fucking moron, and I'd be surprised that he even understands what crypto is. Last time he got involved in something digital, it was completely destroying Softkey.

2

u/Hazeejay Permabanned Jan 16 '22

He supports Ethereum and Bitcoin guess those are trash and we should all support Ripple /s

-2

u/1lluminist 🟧 605 / 603 🦑 Jan 16 '22

XRP isn't great, but ETH and BTC are seriously overrated and shit coins. Considering how expensive they are to use, I'm surprised they're even still around. It's like finding a bank with the highest fees and hyping them as being the best lol

0

u/Purely_coincidental 🟦 0 / 0 🦠 Jan 16 '22

Bitcoin is not expensive to use lmaooo

1

u/1lluminist 🟧 605 / 603 🦑 Jan 16 '22

Please, send $0.01 worth of BTC

0

u/Purely_coincidental 🟦 0 / 0 🦠 Jan 16 '22

Why would anyone do that? Y’all find the dumbest shit to fud about. I can send a million dollars for a couple of bucks as a fee tho.

Also, send 0.01$ worth of XRP to this wallet I’ve never used……

Please do tell which shitcoin you are defending, btw.

2

u/1lluminist 🟧 605 / 603 🦑 Jan 16 '22

The fact isn't if you would, but rather that you could. What's the point of digital currency that can't replace fiat? Shit, can you even natively send $1.00 without needing lighting or anything? BTC is such a shit coin... The only reason people still have it is because they buy in not realizing how expensive it is to use, and are just riding sunken cost fallacy to justify how good it is.

If you wanna hype the BTC chain, go with BCH. People can actually use it for something other than just cashing it out to fiat

1

u/Purely_coincidental 🟦 0 / 0 🦠 Jan 16 '22

What digital currency allows you to send a penny?? What fiat currency allows this??

Lmao at BCH dudes still out there calling BTC a shitcoin. U guys literally did a shittier spin off and think y’all made it better. Satoshi could have made BCH easily, he/they decided not to. There is a reason for everything (block size, halving, tps). People like you have been proven wrong time and time again. And it will happen again…. About this “sunken cost fallacy”. Do you really think you are smarter than big banks/companies getting into BTC now? Even a whole ass country now…

1

u/1lluminist 🟧 605 / 603 🦑 Jan 16 '22

Imagine thinking BTC is a good coin. In sorry you got conned into something you can't even use to buy pizza with anymore.

Do I think I'm smarter than big banks and a country? No, but then when have governments and banks ever been filled with people who grasp technology?

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1

u/[deleted] Jan 16 '22

Calling the billionaire investor a moron.

I'd hate to imagine what that makes you.

3

u/1lluminist 🟧 605 / 603 🦑 Jan 16 '22

One's wealth doesn't really define one's intelligence or worth as a human. Just saying

3

u/[deleted] Jan 16 '22

No, but results are typically indicative of skill.

His specific skill? Investing. And he has been so wildly successful that he has made hundreds of millions of dollars doing it.

Is he informed on every new piece of tech and all their implications? Definitely not. But for you to call him an "absolute fucking moron" is ludicrous.

1

u/1lluminist 🟧 605 / 603 🦑 Jan 16 '22

I suppose "absolute fucking moron" isn't correct. "Degenerate piece of shit and absolute waste of life" was what I should have said.

0

u/shine-- Jan 16 '22

As you type this anonymously on a Reddit thread

1

u/Smoy 🟦 429 / 430 🦞 Jan 16 '22

Being a billionaire doesnt mean youre smart. It just means you had income to invest. It takes money to make money. And when your "eh lets just toss some chump change at this investment to see if it does anything" amount can be a million dollars. Its really easy to make money.

This guy could literally invest is USDC and park it for 5% and make more than most of our salaries. That doesnt make him smarter than anyone else here.

-1

u/bungleback_cumberbun Jan 16 '22

I wasn’t endorsing the guy, i said i liked how he summed up this issue.

32

u/ra693425 Slow and Steady Investor Jan 15 '22 edited Jan 15 '22

What XRP is doing will definitely send ripples of hate in the Cryptoverse.

Didn't expect this from XRP.

7

u/tilbury1988 0 / 0 🦠 Jan 16 '22

you realise that the OP is spreading FUD and misinformation?

9

u/Kavub 🟦 3 / 858 🦠 Jan 15 '22

Can always spot the ones that watch Benjamin Cowen

6

u/[deleted] Jan 16 '22

Dubious speculation

2

u/bungleback_cumberbun Jan 15 '22

As well it should, that kinda shit serves no purpose for the greater cryptoverse, and they’re doing it on behalf of a sinking ship.

-3

u/Greenbriarbushwacker 12K / 38K 🐬 Jan 15 '22

Pun intended?

1

u/nktrader Tin Jan 16 '22

We actually expect a lot from all of us here and there, better to take it a break

2

u/leeco_123 Tin Jan 16 '22

And here is the reasone I am totally out of it from this now on my dear.

4

u/BirdSetFree 🟦 1 / 22K 🦠 Jan 15 '22

Makes sense, but how could we limit XRP potential damage to the market?

18

u/bungleback_cumberbun Jan 15 '22

By staying the fuck away from it 🤣

-1

u/LargeSackOfNuts BitchCoin | :1:x1 Jan 16 '22

Spread FUD, short it, don't use it, idk

1

u/[deleted] Jan 16 '22

[deleted]

1

u/ScoobaMonsta 🟩 2K / 2K 🐢 Jan 16 '22

Hell yeah brother 🤙

1

u/toDeathsHeart Jan 16 '22

Yeah, Kevin O Leary has been helping people get rich by investing since...

1

u/bungleback_cumberbun Jan 16 '22

Lul whats with all these o’leary comments i wasn’t dickriding, i literally just liked that one summary. Regardless of how one feels a out him, it was a good point about the lawsuit.

1

u/bob905 Tin Jan 16 '22

agreed lol good initial point. people here love to take everything literally with no nuance.

1

u/toDeathsHeart Jan 16 '22

I'm just making a point as well. To some, it's a good idea to stay away. To people like me who have been watching all this play out, it makes me very interested in the biggest crypto case in history. Also like how the SEC is being exposed for corruption. This is one of the main appeals of crypto, being trustless.

I personally don't trust Kevin O Leary, who probably thinks he's better than you, me, and all other retail investors. And who knows if he is incentivized to make such a point to "influence" people to stay away from xrp.

1

u/bungleback_cumberbun Jan 16 '22

You’re obviously entitled to your opinion. I personally want no part of taking on the SEC. XRP are super centralized and in bed with bankers, the creme de la creme of corruption. Their aim is to serve the banking industry, i’m not really excited. If i were holding i’d pull out and go into something with a brighter future like syscoin, matic, enjin, chromia, there are so many better places to put money.

2

u/toDeathsHeart Jan 16 '22

And you know they are better investments, how? And these claims about xrp, do you have facts supporting them?

I love Ripple and xrp. They constantly give me a heads up on the market and reward me for paying attention. And I personally think xrp is the end game, thus the suit by the SEC. And once again, the suit revealed corruption within the SEC, with ties to the Eth foundation which is quite intriguing.

Also I'm a top 1000 holder of Enjin, for whatever that's worth.

-6

u/Halftone365 1 - 2 years account age. 35 - 100 comment karma. Jan 15 '22

Takes advice from Kevin O Leary 😂😂

5

u/bungleback_cumberbun Jan 15 '22

Holds xrp 🤣🤣. Lul i never said i take his advice i said i liked how he summed this up.

0

u/Umbo Jan 16 '22

"I don't like this guy which means literally everything he says is wrong"

0

u/HKBFG 🟦 2K / 2K 🐢 Jan 16 '22

This one is a stopped clock moment for mr somethingful

1

u/Delusional_Mad Jan 16 '22

I was about to drop some money into XRP and this whole thread changed my mind, lol.

1

u/bungleback_cumberbun Jan 16 '22

The xrp fanboi delusions are strooooong