How to Become a Billionaire with XRP: Finance Expert Issues a Satirical Guide
Finance expert Rajat Soni (CFA) has recently targeted XRP and presented a satirical "how-to" guide on getting rich using XRP.Soni shared his views in a tweet that has sparked both amusement and outrage within the crypto community. His post highlights the tactics often used to manipulate markets and exploit inexperienced investors, with XRP as a reference point."How-to" Get Rich with XRPAccording to Soni, the process of getting rich with XRP involves creating a coin out of thin air and building an independent firm to "take ownership" of the entire supply. Notably, Soni is satirically referencing Ripple, the payment company closely associated with XRP, as the company controls approximately half of the cryptocurrencys supply.Sonis hypothetical get-rich-quick scheme with XRP also involves aggressively marketing the created tokens and selling them to investors eager to get rich fast.According to him, the key to success is creating a narrative that positions XRP as the next big thing while simultaneously encouraging supporters to attack detractors.Tell them XRP is going to $100K per coin and that Bitcoin uses 75,000 gallons of oil per transaction, Soni quips. He seeks to suggest that the belief in XRPs prospect is based more on manipulation than on real-world fundamentalsThrough his satire, Soni aligns XRP with fraudulent projects and illustrates how some initiatives could hypothetically amass vast wealth at the expense of others."This is guaranteed to make you a billionaire because most people are clueless and will fall for whatever lies you tell them," Soni remarked.Sonis Concerns with XRPSonis ongoing critique touches on what he and other Bitcoin maximalists see as XRPs major flaws: "centralization and control by a single entity." In recent days, Soni has launched an intense criticism campaign against XRP, calling the project a scam. Among his most recent remarks, Soni labeled XRP fraudulent and claimed that banks would never adopt it.His primary argument is that XRP is not truly decentralized. He often cites that Ripple controls about 50% of its supply, which he argues exposes XRP to price manipulation. In contrast, Soni has praised Bitcoin for its decentralization and broader adoption, asserting that Bitcoins future is more secure compared to XRP.XRP Army's ReactionsHowever, XRP supporters have become somewhat desensitized to Sonis negative views. There has been a noticeable decline in efforts to directly counter his critiques, as many community members seem increasingly indifferent to his narrative.In previous instances, critics like attorney Bill Morgan have called Sonis posts the most ill-informed thread ever about XRP. Crypto author Panos Mekras also criticized Soni for lacking basic research despite his finance background. Moreover, Mekras shared a 2018 thread to help educate him about XRP.
Text source: The Crypto Basic
