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Ripple david schwartz spoke in a recent tweet about the XRP takeover proposal that appeared in 2021 and is now surfacing again with a second iteration. The controversial proposal is currently being heatedly discussed again on Twitter after Valhil Capital CEO Jimmy Vallee brought up the idea again.
The controversial proposal is currently the subject of a heated Twitter discussion after Valhil Capital CEO Jimmy Vallee once again raised the issue. The theory is based on the belief that XRP will become the world’s reserve currency when government debt skyrockets worldwide and all banks switch to ISO 20022 and use XRP to conduct cross-border monetary transactions.
According to Vallee, this would create the need for a buyout, as government purchases of XRP could not occur on secondary markets. In addition, the executive of Valhil Capital also stresses the necessity of a case similar to that of Bretton Woods in this context, where the IMF considers the token to be an ESDR (special drawing right) and token holders are required to sell their tokens to the government at a fixed price, gold-plated.
In that case, it would basically be responsible for providing as much information as possible. Remarkably, the valley puts the price at $50,000 by xrp. This award and this theory give rise to a lively debate. And so did David Schwartz.
What people don't understand about the #XRP buyback proposal pic.twitter.com/HpN3gphth9
— CryptoLewLew (@cryptolewlew) Something people don't get.
Ripple Execs Slam The XRP Buyback Theory
The theory of purchasing XRP. According to Schwartz, it looks like fraud on the surface. Cto ripple revealed that he did not take a close look at the theory.
“I haven’t looked at it very closely. Read related: key entity in the xrp ecosystem supported by ripple stops its operations, here's why"I haven't examined it very closely. But what I saw was very much a scam for me.
If we learned anything from 2012 and 2022, it is that anyone who promises high returns with low risk will almost certainly steal from you," said Mr. Schwartz. Compared to 2022, schwartz apparently refers to Celsius, 3ac, blockfi and ftx collapses as well.
Comparison with 2012 is not very clear, although it probably refers to trend economies of bitcoin razors. The TSB was a pyramid scheme implemented by razors in November 2011, providing a very high interest rate of 7% per week.
Matt Hamilton, former director of developer relations at Ripple, also thinks Vallee’s claims are illogical. In a series of tweets, he doubted the calculations, writing:
OK, so yet again you are assuming that 100% of global GDP will translate into XRP value? In a series of tweets, he doubted calculations, writing: ok, so again you assume that 100% of the world's GDP will result in xrp value? For what? all exported products, oil, food, financial services. Do you think 100% of that will become XRP within the next 10 years?
Do you think 100% of this is magically becoming XRP in the next decade?
At press time, the XPR price followed the broader crypto market sentiment and was down 3% within the last 24 hours, trading at $0.3979.
