EP 198: PART 1/2: XRP IS THE CHOSEN ONE | IT WILL SAVE THE ENTIRE CRYPTO MARKET W/ Prosperity Fund - Transcripts

June 01, 2022

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On today’s podcast, I got Ari aka ProsperityFund on the podcast. He is a crypto content creator and fellow XRP family member. We talk about XRP, the lawsuit and some deep conversations about entrepreneurship. This is part 1 where we go over Ripple and XRP. Stay tuned for Part 2. Enjoy!

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Transcript

Hey, cryptologic podcast listeners, Have you guys heard about Anger by Spotify? Let me break it down for you basically. It's the easiest way to make a podcast with everything you need all in one place, this is how you do it, anchor will let you record and edit podcast right from your phone or computer. So no matter what your setup is like, you can literally start creating today, Anger will post your podcast to all the popular listening platforms, including Spotify with a single tap with anchor creators can earn money in a variety of ways, including ads and podcast subscriptions. Best of all anger is 100% free down the anger app or go to anchor.fm to get started today. Hey everyone welcome back to the cryptologic podcast. Today I have a very special guest in the building. This is episode 1 98 we have the great prosperity fund A K A R E and Yo, he's a fellow ex RP family member, he's been making content on Tiktok for crypto. He has over 20,000 followers. Yeah, so I have this page here pulled up on Tiktok. Do you guys need to give him a follow, follow click on this link to go to his twitter youtube link, everything description. But yeah, welcome to episode 198.

How you doing my brother? It's a pleasure to have you on.

Happy to be here man, you're one of the best people

dude. I remember when we first when I first started Tiktok and I saw you posting you had another page at first, I don't know, I forgot what it was. I don't know you remember that. It was like another page and then it wasn't, it wasn't crypto related and you started sending me like links and hey dude, check this out, then you're sending your videos and I remember interacting that way. It was last year. It was like,

yeah, so I got, I got into the whole Tiktok thing because I was like, this is this is the future platform. Um in my opinion. Like when it comes to crypto, I think that you have to be on twitter youtube and, and, and take those are the three main keys in my opinion of where crypto information is constantly there. And even if you do all the research in the world, like you still need to be aware of like everything that's actually happening.

Yeah, that's that's that's true. So, um, one thing I want to start off with is about your journey is um how did you, Because I know we just had a quick conversation from there in the beginning in regards of like, oh, we're just seeing each other stuff, sending each other news and sending each other our videos and stuff like what made you transition or start talking about crypto or or got into crypto in the first place. When did that happen and how to create content about it happened. Right.

Right. So it's a good question. So I actually um I went to business school graduate level business school. So I got my M. B. A. Masters in business degree from Georgetown University in Washington

D. C.

And I did the traditional like M. B. A. And I really excelled in like the venture capital space and finding innovative companies. And it's interesting while I was in school I didn't really go into crypto as much. I was more focused on the fundamentals and you know I had a capital how to speak, how to present how to do elevator pictures and I want a bunch of capital competition. That was pretty cool. Um But then what I realized after I left school and about 2021 I was like hey you know Kryptos is really innovative opportunity. Why am I looking at the traditional Fintech? Let me look at the crypto Fintech, they're doing obviously this huge huge network. And then obviously you know you start off you know in your coin base and get your Bitcoin, you get your theory and you get and you start with the big ones. Then you start looking into hey what are all these old coins and then the more research that I did, you know I had to approach it.

Like I approach anything else. Um you know as an M. B. A. Student you have to be, you know and now graduate you have to, you have to be very very careful about the investments that you make because at the end of the day you can be the richest person, but you only have a limited amount of money to put in the pie and you got to figure out what makes the smartest sense, what has the best return and what is the best risk reward ratio. So when I started getting into X. R. P. I actually, I'm not sure I might have seen a video about it and then I did some research and when I started doing research like usually I can tell right away if there's something interesting. And then I thought X. R. P.

Was just super interesting to me. I thought it was very innovative and I like innovative and disrupting technologies. When I was in Georgetown, we visited all the big companies like google, yahoo netflix, um, you know, all that kind of stuff. And I just was very into innovation and changing the way things are done and I think X. R. P. Is obviously one of the top choices in my opinion, assuming we got that that case going in our direction and obviously with the settlement or or they win the case and we'll talk about that. But um, but yeah, so I got into this NBA thing and then um, and then eventually I actually run, I'm actually starting, I was working for a fund for years doing specialized investments. Um, and now we're actually hopefully launching this summer the prosperity Master fund is going to be like a large investment fund company a few different areas. Not only crypto but like insurance, real estate equities, private equity but obviously you know your boy prosperity funds running you're running the crypto section.

So

so yeah so we're gonna get raised institutional um and family office money to basically you know hit the market at large. So the whole reason I got into Tiktok was because I thought that it was a really easy medium. Like I didn't have tons of time originally when I first started out and I originally was doing like some fitness stuff like helping people, nutrition and fitness during covid because people have preconditions and trying to help people. But then I I kind of ventured off of that and I was like no let's go to my original you know thing that I'm passionate about which was innovative technologies that can help the world and that's kind of how ripple and X. R. P. Made it to my desk and then the more research I did the more I was just intrigued and interested And then I put some money in and then I put some more money in and now I'm all in let's go. So I actually did something that was an interesting math. I was so so originally I had like Bitcoin in theory on X. R. P. And then I started getting to all the coins.

Um I still love all my all coins but in a bear market I'm really right now or a bear you know whatever bear market I'm basically I shifted originally everything back into Bitcoin ethereum and X. R. P. Because I thought those are like key majors. They've been around for a very long time. They have a lot of liquidity. Whenever I look at something I want to see like what is the volume, you know they have a very high volume. That means there's a very high supply and demand interest that's going on and for me that was important. So I limited myself to that. And then at some point I was like listen if Bitcoin goes to 20,000 or 30,000 and it goes back up to 100,000 let's just say it's at 30,000 now it goes back up to 100,000 that's a three X. But if I buy X. R.

P. Today at 40 cents and then it goes to four bucks so there's a greater opportunity to make more money. Uh In my opinion with X. R. P. Now I think that each of those three kryptos have catalysts that are coming up for Bitcoin. It has the regulatory clarity that it's not a security. But the problem is is that it's not green and you know the whole new world order is all like you know green and and and and and all that. So they have that going. But the spot TTF Bitcoin spotty TF which against the sec is not currently approving but I will leave it will be approved in the future um I think that will be, yeah that would be a catalyst for Bitcoin and ethereum obviously has the merge going from proof of work, proof of stake, which is coming up, but I think that's gonna be delayed a little bit, we'll see how much of that actually settled right away and then X. R. P has the case so each of the top three kryptos have three catalysts that could make, you know, monumental growth in in in the industry, which obviously will probably carry some of the adults but if you're invested in like you know super micro cap, you know, you got to be very very careful and obviously if you have leverage, which I don't necessarily recommend anybody, you can get rocked so you have to be very very careful with all those things.

But yeah that's that's kind of like where, how I got into it, where I'm up to and right now things could change based off of like leverage and different risk factors but right now I'm all in on X. R. P one million X. R. P. That is that is my personal bag. Obviously my fund has, you know more traditional investments so I'm not speaking on behalf of the fun right now, speaking on behalf of me but but in terms of my and my wrist toward ratio I think it's the best bet because if they win, they win big. Um and you know if if at any point I felt like the X. R. P. Case was going in a different direction. You know I think is a great investment now.

If it changed I would change you know and diversify a little bit more I would go back into maybe Bitcoin and ethereum and leave some X. R. P. On the side. So right now obviously I'm very bullish on the case because I think either have if we get in my opinion, if we get to him and emails and both judges approve of it it's game over. I think they're going to have a settlement that's my opinion not financial advice but who's doing it? Who's that? You

Know I saw that on June seven. There's like some there's another meeting I didn't fully read it but it's regarding the hitman emails. But yeah the hitman emails or like the critical aspect that we're waiting on and that that that gets approved or when I should say it's approved

it's game set

Match. It's it's it's it's it's by end of the year I think maybe early 2023 but by the end of the year we're going to have an idea of where this is going to go and it's just it's just like X. R. P. Is one of those tokens is one of the first ones that I researched out of the door because that was initially one of the first things I bought in obviously brought me in and made me and I was like all right there has to be more to this than just mean hype. Where's the real utility at? And for some reason I went down X. RP shout out to coach JV. Also because that's also who brought me in because I was following him on Tiktok prior doesn't make any contact yet. And X. R. P.

Is one of those tokens. Once you do a little bit of research, You just fall in love with what the hell they're planning and what they've been doing for the past 10 years pretty much. And you could see the partnerships, you could see the use case. You can see that they're being utilized amid a lawsuit. It's just the US that's pretty much cornered them off a little bit right because of this lawsuit. And then you started researching the lawsuit and that's when I started seeing like oh man this is not just an ordinary lawsuit, this is some conspiracy stuff here right? Like it's a gamble or whatever you want. However you want to take a look at it that I'm willing to take. You know and and seeing like the actors that are involved, right jay Clayton Bill Hinman and seeing how they left and then went to go and advise or work with firms that invest in ethereum and X. R. P. Was I think above ethereum and market cap like a few years

ago

and it was just like it's just like wait why are you going after the

one

of the only

us

based crypto networks or companies ripple like you can't go after anything else that's not in the U. S. Like been in or anything else like that. So you target X. R. P. And X. R. P. Has the potential to surpass ethereum ethereum has no ceo essentially it's quote unquote decentralized. It has a developer group and everything. Core developer team so you can kind of manipulate it with with with cash flow.

You know what I'm saying? Like

so

that's how I looked at it. I was like oh they wanted ethereum ethereum is easy to to be manipulated by anyone who has capital. Whereas ripple has a ceo has a corporate structure. You know what I'm saying? In regards to the company. So that's where I was like oh now it's like a conspiracy now you can believe whatever you want in regards of is it a conspiracy? And I just I choose to believe okay X. R. P. Is being suppressed it's being targeted and it's being attacked. So the bet on this lawsuit ending in their favor where literally the sentence of it's not demon security will change the entire landscape of crypto and it's all because of this token right here right?

And the proof the proof is in the pudding because if you look back at the 2018 speech that fill him in of the Sec Corporate Finance Division gave. They literally have I saw a clip where they show you like he mentions that ethereum currently would not longer no longer be considered a security putting aside the original sales which they're probably gonna go after ethereum for the original sales. Even if you do you think they got a free pass. But the point is I think what's interesting is you see these guys on the news and they're like whoa ethereum just shot up on price. So everybody knows that the suppression is tied to the regulatory clarity. So the Bitcoin and ethereum got regulatory clarity. Their price skyrocketed literally within an hour of the announcement. But we know that the announcement obviously had a major market impact and that's why I think that X. R. P. Getting a judge to provide clarity will become the law of the land. So um doesn't matter even if the sec were to appeal the case.

From my understanding it doesn't matter because once the law, once the judge rules on it, the final judge, judge Torres in the main case that becomes the law of the land. Even if they try to appeal it they could try to appeal it. But it doesn't but it doesn't change the fact that it's now the law now what's really happening it's interesting is I don't know if anyone hasn't followed Don E. D. In one on you need to john D. And started crypto law dot us. I think it's crypto dash law dot us. And he basically has been pushing for you know investigations into this whole case and putting pressure on them and there we go. There we go. And I encourage all of you to get involved. Um um Maybe a little bit more involved in in the average person. But everyone can, you know you can sign up a quick form, definitely follow all the news.

Keep up to date with everything. But in my opinion we get regulatory clarity. It's going to have that same effect that Miriam had That 2018 speech. So it's it's not even like a question. Even the biggest x. RP Haters and doubters have said that if they were in the case it's going to probably $2.50. I no no not not not to like throw anyone under the bus but like you know bare naked crypto. He's a good guy. He's an interesting guy and he like sometimes react on X. R. P. Or whatever but he told me he said I think one of his videos and he has a he has an X.

R. P. Moon bag so everybody's gotta move back. You know what I mean? Everyone's got nothing.

Yeah

nothing wrong with. Um And that's kind of kind of where I see it happening. I just think X. R. P. Has the best use case. The concern that I have about Bitcoin is that it's like it's like a interesting thing. It was meant to be a peer to peer payment system. X. R. P. Is a better Bitcoin.

Don't forget David Schwartz was originally a Bitcoin developer. They they started the X. R. P. Ledger to be a better faster Bitcoin a greener one. And and the problems with Bitcoin still exist and even if you think oh well Bitcoin has the Bitcoin Lightning Network. I did a whole video explaining how Bitcoin Lightning network doesn't figure out all these issues. There's pre funding issues that are related to it. There are security risks that are related to it. So the X. R. P.

Ledger solves a lot more of those issues and what I've come to learn is that ripple forget about partnering up with the world economic forum and they have people on their board that are just amazing. I mean one of those are huge signs but what's interesting to me was and what made me probably the most bullish at least initially before I did a lot of research on it um was Rosie Rios Rosie Rios is the former U. S. Treasurer under Barack Obama and her name is literally on the $100 bill. Like I think 1.8 trillion three billion has her name on it. And she was at the White House and she was on both Obama's and joe biden and President biden's uh transition team. Why is that important? Because whether you're Republican democrat or independent, if the dems are the ones in power, she has the inside track to all these people because she worked on both teams. So in my opinion, that's that's bullish. But what's even more bullish is the fact that she joined during the lawsuit. She didn't join, you know, in 2016, 2017, 2018 when things were popping off, he joined during the lawsuit, why would a treasurer of the United States connected to the government, the highest levels risk her reputation join a company to be on the board of a company uh that's undergoing a lawsuit against the government. It makes no sense unless they're very confident that things will work out one way or another.

Another interesting thing. Yeah, yeah, for sure. And and I and I and I what's interesting to me even more is, you know, I just saw recently a video, she she works on the show of unicorn hunters. And she recently said, you know, I put my name very carefully. Things democrats. And I was like thinking, well you put your name on ripple during a lawsuit. What does that say? And what's interesting is President biden just nominated Michael Barr who is a former ripple board member as well to the Federal reserve, like a senior position in the Federal Reserve and if he gets appointed now you have people that have either been in Treasury or currently in the Federal Reserve that have been in some way or one or another attached currently or prior to ripple and the X. R. P. Ledger. And we already know that brad Garlinghouse said that addition to the C.

B. D. C. That we know about like palau and and Bhutan, they have a few other ones in the wings that they haven't yet announced. And I recently just saw a video that was revealed showing that people were saying that they're gonna have the ledgers are gonna be used, ripple ripple net is going to be used in various functions with stable coins potentially putting money in the central bank. So a lot of really interesting stuff and I just don't see any of that type of thing happening with Bitcoin with Bitcoin, you still have the energy risk. Um you still have all these players and like we don't know who's going to win the next election, you know, exactly. I happen to be independent. I'm not one way or another, let everyone try to convince me, you know, for your money at me. But uh but yeah from my perspective it's, you know, we're gonna have to see what happens. I think that if the republicans win uh in the midterms that they're gonna grill gary Gensler and the sec. Um But either way I feel that in the damned Party there's like a split.

You have the green attack mode, people against crypto like Elizabeth Warren, Senator warren and on the other hand you also have, you know you have people like you know Rosie Rios and uh and President biden with a more you know neutral approach. So I'm not here to call anyone now, obviously everyone has their own opinion but it's just in terms of factually how is this going to affect the economics? And from my perspective, I just think X. R. P. Has the best best risk reward ratio in the short term because I'm always looking for long term potential and short term potential and when it comes to short term potential yes. Bitcoin could get a spotty TF yes if you could go to the merge which will only initially start with the merge it's not going to fully transition like you know with all the benefits of proof of stake right away, take another chunk of time for that to happen. But X. R. P. Space is ending At the latest by quarter one of 2023 uh where some people are optimistic, it could end the end of the end of the year. It gives the judge six weeks inside but it's possible to go to January February March to get the case decided.

That's not a lot of that's not a ton of time. That's you know less than a year already from now is when even the worst case scenario, that's how long you go and if in my opinion, if we get the Hinman emails then I think that we know what's in the emails, we know we don't know exactly what in the name of him and emails, but what we do know is they're fighting tooth and nail the sec is fighting tooth and nail not to give these documents out there. They're they're contorting themselves into a pretzel to do that. And so we know that it's either something that doesn't look good for the sec, possibly something about the past or even possibly something beneficial about X. R. P. Or X. L. M. That is that is where I'm at. So whatever it is in there, they don't want it out and and and making a deal is all about leverage. And I think that if we get to him and emails, Judge net burn proves it and we should get it.

And then judge Torres upholds it, even if they appeal to the second circuit, you know, it has to be approved through judge Torres to go to the second circuit. So I think it's game set match. And I think that that could that could be the catalyst to lead to a settlement earlier. And I think if that were to happen it would probably happen before september like between august and september but likely in the september months.

Yeah that and the settlement is critical because um we know that brad Garlinghouse has said that a settlement will only made if the X. R. P. Is in demand security. And it's very what I love about it is the fact that the sec has been used to quick settlements whenever they threatened to sue the company that they're trying to threaten will cease and desist basically. Just All right, we'll stop when we won't do what we were planning on doing. Like coin base right? Initially coin base wanted to launch that program interest program right? For their holding crypto program. Yeah. They actually threatened, hey we're going to if you do that to you. They said alright they shut it down and block if I got sued quick settlement and that led a cascade effect that made Celsius stop there staking awards for new deposits for the US next.

So did the same thing. Even cr oh most people don't think, I don't know if people don't realize it's correlated. It's connected and it's connected. I think C. R. O. Changed their rewards for structure. And you start seeing that the sc has got power hungry and everyone says that Gary Gensler wants all the control. You see how they they target after all these Cryptocurrency Ceos one after another and they all settle quick settlement. Two million. 10 million. 13 million whatever they just I think us didn't they see or something else.

I think I don't I can't remember the sec. But I remember they were they did sell them in too. But I don't think it was sec though. I think it was a different branch but either way we've seen it. You can look it up the time frame of a settlement was like a couple of months or something like that. And ripples like the only one that has been fighting back. I love it and we're

going we're going to war Braveheart, this is legit. Honestly I really think that they're with confidence, not only with confidence. You know most people if they're being sued by the government with power away in a corner they're moving on like nothing nothing is happening there there there on the board, they're on the on the speaker circuit and all the major world

institutions.

Exactly world economic forum. They've got people on the on the board talking and global channels. They have new partnerships. T. B. D. C. Is popping up. Like

i

it's like it's like really? So I think I've heard even ripple employees have said that this is just like a bump in the road for them. Some people look at his attacks on successful companies. Um Either way whether it's accurate accurate doesn't matter. I can tell you this that when it comes to ripple um you know you could get equity ripple if you want. There's there are ways to do that with like link to and equities and where they sell ripple shares but that's not X. R. P. X. R. P. Is just independent.

Cryptocurrency. It happens to be that ripple owns a lot of it because they were gifted it so they can develop on the X. R. P. Ledger. Um But ultimately that doesn't mean that they own a lot of the Exxon owns a lot of gas. Does that mean that gas is the security of Exxon? Gas is a worldwide commodity? So that's kind of the way that we look at it. But what makes me really bullish is um to say I can tell you what I can say on the publicly but what what I what I what I will say is that when it comes to when it comes to the ripple and X. R. P.

Case. You know the former sec attorneys that were in the litigation division um Andrew Sarris ni mary jo White was in the position chair of the sec like the position that Gary Gensler is in now. They're all on the ripple defense team. So you literally have like you know they have they have that 10 Guerrero guy who's like the chief head of enforcement or now they have this Gerber gravel guy. They have those people are on their team. So they've got they've got generals, we got generals. So and I think that means they know where all the bodies are buried Right? They know what's really going on now. They were there from 2000 probably 13-2017. So maybe for the lawsuit they still know the earlier approaches. That's why I think people was like what about employees? And what about this?

Because they know what they did. You know what I mean? She was she was Gary Gensler mary jo white. Um So so that's that's pretty cool happens to be one of my relatives works at one of the firms that these guys are at. And I asked her no not not obviously personal information that would be no you can't do that. But I said what do you just think of the caliber some of these people and she said like they're the best of the best, you know it's like Top Gun, I just saw Top Gun maverick, you

know

but but but you know these these these these are the Mavericks, these are the ice guys. You know like these guys are coming in there and they're fighting and I think that's Super bowl also ripple has the money to do it. Most of these other companies are smaller and they don't have the energy and and ripple they're here. They want they don't want to be another company that makes money, they want to be the company. So they're willing to go whatever it takes to be battle tested not only in the marketplace but even from a government perspective and I think that that's critical because they're already working internationally, you know X. R. P. Is not considered a security I believe in uh in Switzerland the U. A. United arab uh the United Kingdom, you know, all these different places. And um so to me it's like it's pretty obvious what's happening here. Um Listen, so the way I see it is like this john d in tried to make an intervention, right?

What was the intervention he really wanted to do? He came out and said listen, sec your claim is not implying that just the earlier sales of ripple, I'm not saying a ripple making X. RP cells were securities. Um Maybe those early sales were securities, right? Just like ethereum earlier sales security, but current sales right, are not considered. So we know that brad Garlinghouse has said they wouldn't act settle unless they say that going forward sales of X. R. P. R. No longer security. So I think that that's the sweet spot where we're gonna have to find out who has the most leverage. Because what I see happening is whether it's a if it's a settlement that's what's gonna be on, they're gonna have to pay a fee for the early stuff.

And then brad said he's not settling. Unless unless they get clarity going forward. So that's number one. And alternatively another thing that could happen in this particular case is that the judge rules the same way the judge says, you know, earlier sales we're not we're not support securities and now current sales are no longer security now. They would rather have it in trying to law than perhaps through a settlement. But then again forget ripple wants to I. P. O. After this whole thing is settled. So um they want to they don't want they want to fight the sec. But they also have to work with the sec going forward because the sec has to prove them to go public eventually. So there is a lot of stuff happening on the back end here.

And so I think that is the sweet spot. I don't think is it possible that the whole thing and say it wasn't a security? Yeah but do I think it's more likely that either through settlement or through the judge we'll just get the fact that going forward sales on the secondary market are no longer securities. That's where I see the best chance of of a conclusion because we know that's what the X. R. P. Holders through the amicus curiae brief is assigning where were we provided and announced publicly already that there's affidavits that a bunch of ex RP holders signed on saying either either I didn't know ripple was a company behind the X. R. P. I just thought it was just a Cryptocurrency and that means I couldn't have had an invested interest for them to work for me because I never invested or that X. R. P.

Or or they invested in knowing that there's ripple but they have no attention to X. P. And he has affidavits like that so we'll have to see how this all plays out. I know you mentioned the June seven meeting and from my perspective what that's about is it's interesting because she could have just said denied or approved just for everyone who doesn't under follow follow what's going on. The sec wants to shield those cinnamon documents with the speech. The documents said it behind the scenes and they were already denied on deliberative process privilege to shield documents. Now they're claiming attorney client privilege and so they're going back and forth and now they're gonna have an in person meeting. I don't know how that's gonna turn out. But it could be that she's raking the sec over the coals in person and doesn't want to do it publicly. It could be he wants to push a settlement. It could be anything we don't know. But what we do know is you know, srp has a strong case here to potentially settle if they get the documents and even if they go all the way they have a good chance of winning.

Now a lot of people I want to mention one thing that a lot of people I see a lot of influencers and people out there, they don't really fully understand this and I was listening to one of the attorneys in the community and explained that now everyone talks about the fair notice defense. This is fair notice defense gold. That's true. And fair notice defense could help protect ripple. But it doesn't necessarily prove that X. R. P. Is not a success. So it's important to differentiate between the fair notice defense.

Yeah

exactly. But that doesn't necessarily prove that X. Is not a security. We're trying to prove that X. R. P. Is currently not a security at all. Just like ethereum got their free pass and that's kind of what and his wife like so that's kind of where I see this all going. And in my opinion at least as of now I'm extremely bullish on X. R. P. I'm all in an X.

R. P. One million X. R. Uh And that's what I'm doing. Actually just looked up and said that every X. R. P. Is actually one million drops right? So it's. Yeah so so technically it's like a billion so I'm a billion drop in air you

know so

if you have to you have to just multiply your bag by a million because that's how many drops you

get for

X. R. P. And I think that's why you know people are speculating that it could be worth a lot more money because they say well it's designed to have these sub levels. You know now you start thinking like oh my god like if this thing really gets fully adopted and like the banks and central banks everybody starts using this as a neutral currency in between denominated currencies like oh I'll see you on the yacht. My voice.

It's one thing I wanted to speak about was the fact that you said, remember how ethereum did I c. O back in the day And Bill Hanson said that all the sales of that is not security, security. But what I want to relate to that is hester pearce. She said that these currency, these networks should have a grace period to when their token is released onto the market two when their utility is established. So there should be like she was, she's four, they call her crypto mom. Right? She's for crypto on top of that. Did you hear? I know you know we probably know about this how there are some people and part of part of the sec who advised jake Layton and them not to go after ripple,

right?

Why are you going after them? This is going to end bad for us basically.

And then everybody left leaves the sec in the middle of the case. It's not a good book.

No, they left the day after they fall.

But I'm saying even like this month more people

left.

I thought that they were doubling down because they were trying to get it. I'm reading now through the lines of that. He was trying to hire people everyone.

The empower oversight is like doing them. So it's like they're so confident interest. So we all know that the it was a house of cards is gonna fall down. It's gonna come down to see what happened.

Don't get me wrong. Like I'm a patriot, like, you know, I'm very grateful for the United States in the country, but the sec the people that are in the leadership just don't have it right and and and they're, they're hurting, they're hurting America's ability to succeed in the future and that is concerning to me. Um you know, we'll have this, we'll have to see how, how it all, how it all plays out. But in my opinion, srp has its like Raul Powell, you know, if you're following him, he's a macro investor real vision and he has a very macro view and it's, it's kind of like you want to invest in these disruptors, disruptors have the opportunity to really blow it through the water just like, you know remember what life was like before facebook and instagram like it was a different life like you found your friends on the street because you saw how many bikes were outside, you know now it's now it's like Yeah. Yeah, so it's like, it's such a different different world. Yeah,

it's it's completely different world. It's it's like, like I can, I can barely remember what it was like before social media now. Social media is the norm where like you have like for a lot of people, they have to showcase what they're eating or what they're doing, where they're going, if it's to the point where if you don't have social media, people call you weird for some reason like, oh why don't you have an instagram you have twitter like you have no social media face like nothing like you're just off the internet.

Yeah

and they just think you're

like

if you have no social media no nothing. Do you ever sense that like you see some people that like

it or

not you think that but other people think that I

definitely see that other people could think that I think that

it's interesting

in the profession and I could be wrong about this but in the professional space like I now work as a fund manager um you know and obviously have to make different decisions because it's a fund it's not my own money. But what I can say is you know you look at you look at the world and you see all this stuff happening and you're just like Man I wish I got in at 2015 that's just the nature of the game. So in my opinion, even if Bitcoin, listen if you think that Bitcoin is going to a million dollars in the future or even 100,000 or 500,000 whatever any astronomical maxi number, it doesn't matter because then you know X. R. P moves with the market even if you were like this anti X. R. P. Bear, if everything moves the market and its clarity and X. R. P. Would go up astronomically as well regardless. The only thing I see is the catalyst.

The X. R. P. Is the case. And on the one hand, I think the case is interesting. On the one hand it provides negative coverage but all publicity is good publicity. I think that it actually helps XR because now more people know about the use case X. R. P. Um I know there's a lot of people in the X. R. P.

Community that are very into X. L. M. And XTC. And I hold I would hold all those planes in a bullish trend. Um but in terms of right now obviously I think X. R. P just has the most partnership has the most history. It has the most rails and it's got that case and the case could provide clarity. I might, I honestly think that it's possible that Excel um was mentioned because it says in one of the filings that no, they evaluated very similar assets how similar you know, like so that's interesting to me. But another thing that's interesting to me is that from what I was doing research on, I believe X. R.

P is deflationary. XL m is inflationary. Exelon has half the supply of X. R. P. But he has double the supply but it's deflationary. And the question is what's the use case and if you're doing peer to peer, if you're doing the back and stuff. So there's a lot going on in the crypto space. But I'm actually curious about you tell me about how you got it.

What's up? Cryptologic podcast listeners. Thank you for listening to Part One of episode 1 98 Part Two will come out tomorrow, june 2nd 2022. In Part two, we're going to go over other tokens and more of a deeper conversation about personal entrepreneurship, less X. R. P. Based conversation. So as we decided to split it up to where this one was primarily ex RP related for Part one, Part two is going to be on a deeper level. So I wanna thank you guys for listening so far. Can't wait for you guys to hear Part Two Peace.

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