todaysgazette.com
Popular Youtube content creator at Altcoin Daily, Aaron, has reiterated the possibility of Ripple’s XRP failing, backing up is claims with Ripple CTO’s statements after he was condemned for producing a video on June 27, where he hammered on the reasons XRP will ultimately fail.
The crypto YouTube content creator with over hundred thousand subscribers pointed that he was crucified and down voted into oblivion by the XRP community for raising his observations on Ripple’s XRP.
Aaron said XRP community clamped down on him as if he’s hurting the price, whereas XRP is one coin that does not need the populace (the retail movement) to increase its price.
The content creator said since XRP is being directed towards banks, it’s meant for enterprise use, which means the price of the digital currency depends on bank adoption.
Is Ripple’s David Schwartz on the same page with Aaron?
Furthering his statement, Aaron said the CTO of Ripple, David Schwartz, recently confirmed this in an interview with CB Insights.
One very reason Aaron feels XRP could ultimately fail is that banks are slow to adopt Ripple’s XRP. The content creator said his statement was actually confirmed by the CTO.
David in the interview shared by Aaron said the adoption of digital assets is generally slow or even quick based on the time frame used.
David said revolutionising International Finance is not something that we should expect to happen overnight but it is a multi-step process.
He said one major problem encountered is that banks are conservative and that Ripple is struggling to convince them to adopt cryptocurrency.
Aaron Says Banks Won’t Use XRP when…
The anchor of Altcoins Daily believes banks have no reasons to use Ripple’s XRP when they can easily make use of stablecoins or even create their cryptocurrency like JPM Coin or Facebook Coin tied to several fiat currencies.
In his first video, the anchor said he is not doubting the fact that XRP has the potential to get pumped, making people rich quickly, but it is ultimately going to fail.
The anchor accused Ripple of doing public relations than any other altcoins, stating that the firm keeps on spending money on influencer marketing than any other altcoin.
He said the funds used by the firm were what they printed when XRP was created, saying XRP is an unregistered security. Aaron added that banks won’t use an unregistered security to transfer value.