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Help me with a Qtard/Rippletard who keeps sending me 💩
202 sats \ 4 comments \ @Taj 5 Dec AskSN
So as the title suggests, I'm not sure if I've mentioned before but I know someone who is a Qtard/Rippletard
Now I know we dont speak of shitcoining here, but he's getting more and more excited as the days go by, that it's the future 🤦
So can you help me and tell me some debunking facts that I can fire back

For the record I have tried explaining Bitcoin but all I get is Satoshi is Epstein 🙈

I know that the major well known flaws of the shitcoin, like premine, holders Hoarding supply, dumping on retail, centralised nodes and as far as I can tell there is no partnership with any banks, it's all a ruse
But is there any facts about Bitcoin that I can educate him with, which will explain the superiority over that shitcoin, something I wouldn't know or haven't thought of
  • And perhaps open his eyes to the fact he's fallen for a grift

And to make matters worse he's seen this tweet 👀

Apologies for mentioning this 😅 and im sure Darth can hit me with the OK shitcoiner meme 🤣
As time goes by, we'll see the opposite of this tweet where people swap all their 💩 🪙 for sats
I'm hopeful he can be one of them!
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163 sats \ 1 reply \ @Scoresby 5 Dec
Seems many of us are cursed with ripplers... I have a brother-in-law who was bugging me about it, so here's what I sent him:
tl;dr legal good news may cause a big price jump, but ripple is no world settlement layer.

Bank of England

In 2017, the BOE did a proof of concept with Ripple to explore digital pound designs. It looks like their relationship concluded in 2017.
This engagement concluded upon completion of this proof of concept. We will continue to work with businesses on fintech proofs-of-concepts whenever this may help us fulfil our mission. 1
Some Ripple promoters have been claiming that the BOE has plans to use Ripple in 2024, but these claims seem primarily to be based on a mention of the 2017 Ripple Proof of Concept in the BOE's Roadmap for Real-time Gross Settlement Services Beyond 2024. If you use your browser to search the document for "Ripple" you can see that the mention doesn't really imply a future connection.

SEC Ruling

Since 2020, the SEC has been going after Ripple for selling an unregistered security. In 2023, courts ruled that Ripple's "programmatic" (read on exchanges or through algorithms rather than directly to investors) sales of tokens did not constitute unregistered securities. XRP token price jumped 70% on the news last summer, but the case is ongoing.
This year, a judge mostly dismissed a class action lawsuit against Ripple, but implied that XRP sales (even on exchanges and via DEXs) might indeed constitute sales of unregistered securities.
In April of 2024, a federal judge dismissed the SEC's claims that Binance's token (BNB) was a security. This has given some new wind to Ripple's defense against the SEC, although the SEC denies the BNB ruling is relevant.

Tech

A blockchain is an incredibly inefficient ledger. The original innovation of a blockchain is the ability to achieve consensus (settlement) without a coordinating third party. This innovation comes at a cost. Blockchains that are actually decentralized (and therefore truly resistant to regulation) are slow.
Ripple uses a blockchain and claims to achieve transaction settlement in 3-5 seconds. The way they achieve this is by having very few nodes (100 or so). Compare this to the ~70k nodes on the Bitcoin Network or the validators on the Ethereum Network. It's not the case that raw # of nodes being higher is always better, but everything I've learned about blockchain tech suggests that 100 nodes is centralized and that such projects would be far better just using a database like any other money services business.
Ripple is a regulatory arbitrage play. It is just as centralized as something like Bank of America or PayPal but because they use a blockchain they avoid many financial regulations. It's unclear when/if this will change, but my bet is that in five years Ripple will be forgotten either because regulations come down on them or because someone realizes that a blockchain with 1 node is a lot faster than a blockchain with 100 nodes.
At the end of the day, I don't see anything that distinguishes Ripple from competitors like Solana, Avalanche, Cardano, or Tron. Good news in the courts may lead to another jump in price like we saw last year, but it's tough to know when to sell. Long term, I don't see it being big.
Hope this is helpful.

Footnotes

  1. https://www.bankofengland.co.uk/research/fintech/proofs-of-concept/ripple ↩
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102 sats \ 0 replies \ @Taj OP 5 Dec
Copying and pasta'ing now 🤣🤣 thanks Scoresby 😊
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42 sats \ 1 reply \ @justin_shocknet 5 Dec
I'm fluent in Qtardese, post verbatim:
Q+ himself says never sell your Bitcoin
SpaceX, bye @jack -> Let that sink in -> “Bitcoin is a true currency based on energy.”
"gold shall end the fed", "welcome to the digital battlefield" Bitcoin = gold on a digital battlefield.
"US Military = savior of mankind.", NSA is US MIL, Bitcoin is NSA.
Orange man, orange coin.
Why does Potus surround himself w/ generals?
Why does Potus surround himself with Bitcoin Maxis?
COunter-INsurgency
John Perry Barlow
What if Snowden was still a Clown? Why would it be important he was in Russia?
"How many coincidences until its mathematically impossible?"
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17 sats \ 0 replies \ @Taj OP 5 Dec
Fluency is unmatched 🙌 gold on a digital battlefield has a ring to it 🤣🤣
You forgot BTC beta test coin
Actually thinking out loud if you combine Q movement and Ripple
Doesn't that make....
Qripple
Oh but you can't say that!
I just did 🫳🎤
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