The well-known analyst Tone Vays has made fun of the alleged success plan of Ripple (XRP). He also described the supporters of the cryptocurrency “Army of the Brain Dead”.
The crypto-trader, analyst, and YouTuber Tone Vays is commonly known as the bitcoin (BTC) maximalist. Accordingly, he does not think much of Altcoins and alternative systems like Proof of Stake. On Monday, Vays drastically criticized the cryptocurrency ripple (XRP).
According to him, the XRP token is “useless”. In addition, Ripple holds over 75 percent of the coins to sell later to gullible investors after the price has risen. It is a fact that Ripple holds a large part of the XRP, as the company indicates on its website. However, it is rather 57 instead of 75 percent and the majority is inaccessible on a trust account (Escrow).
Vays further claimed that Ripple would buy stakes from “failing companies” from its assets, as they recently did with financial services provider MoneyGram. In fact, since April 2017, the MoneyGram share has been on the downtrend. With news of such partnerships, Ripple would then motivate its followers, the “Army of the Brain Dead”, pushing up the XRP price, Vays said.
😂You really can't make this shit up😂#Ripple's Success Plan:
1. Create & Pump useless $XRP token while keeping 75%+ for yourself to sell later to bag holders
2. Use $$$ to buy stock of failing Companies (Ex: MoneyGram)
3. Use news to wake up "Army of the Brain Dead" & pump XRP pic.twitter.com/nqUqNk0etA
— Tone Vays [RIP Tyler Jenks] (@ToneVays) August 3, 2019
Vays: US Federal Reserve makes altcoins redundant
Last night, Vays also responded to the US Federal Reserve’s announcement that it would introduce a new real-time payment system called FedNow. This would push “shitcoins” like XRP, Litecoin (LTC) and Bitcoin Cash (BCH) out of business. Bitcoin, on the other hand, would still have a raison d’être because it was “uncontrollable, uncensored” and “uninflatable”.
— Tone Vays [RIP Tyler Jenks] (@ToneVays) August 5, 2019
Does Vays’ criticism of Ripple hit the mark or is he simply biased? Share your thoughts in the comments column!