Rajat Soni’s Satirical Guide to Getting Rich with XRP Sparks Debate in Crypto Community
Finance expert Rajat Soni (CFA) has recently targeted XRP with a satirical “how-to” guide on getting rich using the cryptocurrency, sparking both amusement and outrage within the crypto community.
Soni shared his views in a tweet that has ignited discussion. His post critiques the tactics often used to manipulate markets and exploit inexperienced investors, using XRP as the focal point.
“How-to” Get Rich with XRP
According to Soni, the process of getting rich with XRP involves creating a token out of thin air and establishing an independent firm to take control of the entire supply.
Soni references Ripple, the company associated with XRP, noting its control over approximately half of the cryptocurrency’s supply.
His hypothetical scheme includes aggressive marketing to investors eager for quick gains. Key to success is building a narrative that positions XRP as the next big thing while encouraging supporters to attack critics.
“Tell them XRP is going to $100K per coin and that Bitcoin uses 75,000 gallons of oil per transaction,” Soni quips. This satirical commentary suggests that belief in XRP’s future value relies more on manipulation than on real-world fundamentals.
Through his satire, Soni aligns XRP with fraudulent projects, illustrating how initiatives could hypothetically accumulate vast wealth at others’ expense.
“This is guaranteed to make you a billionaire because most people are clueless and will fall for whatever lies you tell them,” Soni remarked.
Soni’s Concerns with XRP
Soni’s ongoing critique centers on XRP’s major perceived flaws: centralization and control by a single entity.
Recently, Soni launched a criticism campaign against XRP, labeling it a scam. He argues that XRP is not truly decentralized, citing Ripple’s control over about 50% of its supply, which he claims exposes the token to price manipulation.
In contrast, Soni praises Bitcoin for its decentralization and broader adoption, asserting that Bitcoin’s future is more secure than XRP’s.
XRP Army’s Reactions
Despite Soni’s negative views, XRP supporters are becoming less reactive to his criticisms. Many community members seem increasingly indifferent to his narrative.
Crypto author Panos Mekras criticized Soni for a lack of basic research despite his finance background. Mekras shared a 2018 thread to educate him about XRP.
The debate highlights the ongoing disagreements within the cryptocurrency community regarding the legitimacy and future potential of XRP.
Conclusion
Finance expert Rajat Soni’s satirical guide to getting rich quick with XRP has sparked a mix of amusement and controversy in the crypto community. His criticisms focus on the centralization and potential manipulation around XRP, contrasting it with Bitcoin’s more decentralized nature. Despite Soni’s strong stance, XRP supporters remain largely indifferent, showing resilience against negative narratives.
The debate underscores the complex nature of the cryptocurrency market, where differing viewpoints and ideologies constantly collide.
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