Author Blasts Ripple As ‘Completely Retarded’ – Here’s Why
The post Author Blasts Ripple As ‘Completely Retarded’ – Here’s Why appeared on BitcoinEthereumNews.com.
Eric Yakes—a Chartered Financial Analyst (CFA) and the author of The 7th Property: Bitcoin and the Monetary Revolution—published a blunt critique of Ripple and its associated XRP token on February 10. Yakes, who also operates in the Bitcoin venture capital sector as Co-Founder and Managing Partner at Epoch, voiced his disapproval on X with unusually stark language and a detailed rundown of what he perceives as significant flaws in Ripple’s value proposition and governance. Yakes Slams Ripple And XRP Yakes opened his post with a broad attack on the fundamental nature of Ripple and its token, declaring, “Ripple is precisely the problem bitcoin was created to solve: printing fake money for political gain.” He further asserted that, from his perspective, the entire enterprise lacked a legitimate use case, calling it “completely retarded,” and claiming he was compelled to “waste an hour” researching Ripple ahead of a speaking engagement at a traditional finance (TradFi) conference. In his view, this research left him convinced that the company’s technology and token economics resembled the very sort of centralized monetary issuance that Bitcoin was designed to eradicate. Yakes itemized his reasoning in detail. He described the remittance and central bank digital currency (CBDC) objectives often associated with Ripple as inadequate, since, in his words, “nobody wants to use a volatile, centralized, and illiquid bridge currency (XRP)” when more appropriate options for remittances—such as stablecoins or Bitcoin—already exist. He also stated, “The only use case is to trick retail investors into pumping the token price,” which he believes is orchestrated through marketing partnerships with banks, combined with political lobbying. He further suggested that the XRP token supply lacks true scarcity, contending that the ledger could be forked at will and that the foundation sells XRP to finance political agendas. Yakes maintained that these are precisely…
Filed under: News - @ February 11, 2025 3:26 pm