The Forgotten Hilarity of XRP

A little while ago I asked someone on Twitter if they could explain why XRP was an interesting failure.

Value Proposition

Ripple/XRP claims that its value lies in the need for banks to be able to move money at a lightning fast speed. There’s, of course, some truth to this: bank wires can take days or weeks, depending on the sources and the banks involved. Even interbank transfers can take too much time, considering I can send a friend money with Venmo or CashApp in a matter of seconds.

Sins Rippling Out

If you’ve gone through and read all of that, you’ll see that Ripple/XRP’s claims for value are full of holes at the best, and flat-out false at worst. But as someone who isn’t now, and never will be, interested in buying XRP, these problems don’t annoy me so much.

Uh… Point?

There isn’t much of one, besides, “Man, remember how a week or so ago everyone was saying ‘Guess I’ll buy me a bag of XRP because here comes retail.’?”

Fraud. Fraud everywhere.