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My Thesis. Perhaps It’s Yours Too.
It’s eye-opening to realize that 99% of the conversation in crypto is focused on Tier 2 and its infrastructure.
Tier 1, and the infrastructure needed to connect sovereign monetary systems, is what really excites me.
#XRP #XLM #XDC #QNT #CC #LINK #IOTA
It’s eye-opening to realize that 99% of the conversation in crypto is focused on Tier 2 and its infrastructure.
Tier 1, and the infrastructure needed to connect sovereign monetary systems, is what really excites me.
#XRP #XLM #XDC #QNT #CC #LINK #IOTA
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Native programmability without smart contract bloat.
🇧🇷 Brazil's CVM-regulated platform Atlas Inc. now records investor ownership of a R$10M Receivables Certificate on the XRP Ledger, one wallet per investor, and heads into the CVM DLT pilot. #XRP #XRPL #Ripple
brasilinovador.com.br/atlas-integra-…
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🇧🇷 Brazil's CVM-regulated platform Atlas Inc. now records investor ownership of a R$10M Receivables Certificate on the XRP Ledger, one wallet per investor, and heads into the CVM DLT pilot. #XRP #XRPL #Ripple
brasilinovador.com.br/atlas-integra-…
brasilinovador.com.br/atlas-integra-…
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If you see a better opportunity from here, take it.
But in a speculative market, “better” is a judgment about what happens next. Conviction tells you which bet you’re willing to make. The evidence behind your thesis tells you how much conviction it deserves.
But in a speculative market, “better” is a judgment about what happens next. Conviction tells you which bet you’re willing to make. The evidence behind your thesis tells you how much conviction it deserves.
When XRP eventually hits $10 many won’t sell.
I’m likely selling everything at current prices. Tired after 7 years. Too much opportunity cost. Not a fan of narrative shifting and gaslighting.
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Utility Obviously ⚖️ retweeted
JUST IN: Ripple partners with Privy to bring wallet infrastructure to the XRP Ledger.
Developers can now embed XRPL wallets into applications, automate transactions and enable AI agents to make payments through x402.
With XRP, RLUSD and tokenized assets in the mix, XRPL is the next generation of payments and AI-powered finance.
Developers can now embed XRPL wallets into applications, automate transactions and enable AI agents to make payments through x402.
With XRP, RLUSD and tokenized assets in the mix, XRPL is the next generation of payments and AI-powered finance.
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Utility Obviously ⚖️ retweeted
People's thesis's are all visible now - naked.
This is a good thing.
Let's have November 2026 be that point in time in hindsight where people started treating XRP as a digital commodity and money, XRP Ledger as decentralized financial infrastructure and adoption a process everyone partakes in.
This is a good thing.
Let's have November 2026 be that point in time in hindsight where people started treating XRP as a digital commodity and money, XRP Ledger as decentralized financial infrastructure and adoption a process everyone partakes in.
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TL;DR: The XRPL's greatest weakness may also be its greatest strength. While protocol-level incentives attract developers, validators, capital, and speculation, they also introduce economic interests that can concentrate power.
The XRPL sacrifices those incentives in favour of neutrality, decentralization, and minimal friction.
What incentivizes a network to grow isn't necessarily what makes it suitable to become global financial infrastructure.
"The best incentive is no incentive."
The XRPL sacrifices those incentives in favour of neutrality, decentralization, and minimal friction.
What incentivizes a network to grow isn't necessarily what makes it suitable to become global financial infrastructure.
"The best incentive is no incentive."
Always appreciate Panos' take on things.
My thoughts...
The XRPL's greatest weakness from one angle is simultaneously its greatest strength from another.
**"THE BEST INCENTIVE IS NO INCENTIVE."**
👎 **Why it's the greatest weakness...**
- Incentives attract more devs. Protocol-level incentives like validator rewards and staking mean that a neutral dev looking to build a crypto project has a clear advantage in choosing a protocol where retail users/holders have a way to earn returns through staking rewards.
- Incentives also allow devs to distribute the tokens of a project to their financial advantage, while retaining large portions for themselves to control or influence the network.
- Incentives attract more operators willing to run network hardware because they can supplement their costs with validator rewards.
- Incentives bring more retail holders because they know they can earn returns through staking.
- More devs + More operators + More retail = A more active, more liquid, and more comprehensive ecosystem.
👍 **Why it's the greatest advantage...**
What "no incentives" at the protocol level brings to the table is something so fundamentally unique that it goes misunderstood by most in crypto.
- No incentives means there is no avenue for control through a few large staking pools.
- No staking-based consensus power means that accumulating more XRP does not automatically grant greater influence over consensus. The XRPL separates economic ownership from validator voting power, avoiding a major source of wealth-based concentration.
- No incentives means no staking-reward mechanism where the "rich get richer."
- No incentives means network operators do their job because they value the network rather than the profits they can extract from maintaining it.
- No incentives means an entire layer of economic friction is removed, offering maximally cheap protocol-level services.
**Conclusion...**
So is the XRPL at a disadvantage? Incentives bring more devs, more retail speculators, more network operators, and in turn, a more vast ecosystem. If those things are the end goal, perhaps the XRPL is at a disadvantage.
But here's what I believe is the fundamental distinction:
**What incentivizes a network to grow isn't necessarily what makes it suitable to become global financial infrastructure.**
I believe the global market at large will eventually come to value a protocol that can deliver the same services on the L1 as other chains, but do so in a maximally decentralized and neutral way. And I believe the absence of protocol-level incentives is fundamental to achieving that.
Until that time, we're faced with the reality that comparisons to other chains can suck the enthusiasm out of some people because Panos is right: the metrics are comparatively lacking versus other chains.
This is where my thesis lies.
I believe the XRPL's greatest strength will eventually outshine its greatest weakness. And when these solutions start actively competing to offer financial services to the world, I believe the XRPL will rise to the top because it will prove to be one of the most decentralized, neutral, and hardened protocols in existence.
**Last note...**
Shout-out to all the devs and operators out there grinding away on the XRPL while lacking the incentives that could take the edge off their entrepreneurial burden. 🤍
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Always appreciate Panos' take on things.
My thoughts...
The XRPL's greatest weakness from one angle is simultaneously its greatest strength from another.
**"THE BEST INCENTIVE IS NO INCENTIVE."**
👎 **Why it's the greatest weakness...**
- Incentives attract more devs. Protocol-level incentives like validator rewards and staking mean that a neutral dev looking to build a crypto project has a clear advantage in choosing a protocol where retail users/holders have a way to earn returns through staking rewards.
- Incentives also allow devs to distribute the tokens of a project to their financial advantage, while retaining large portions for themselves to control or influence the network.
- Incentives attract more operators willing to run network hardware because they can supplement their costs with validator rewards.
- Incentives bring more retail holders because they know they can earn returns through staking.
- More devs + More operators + More retail = A more active, more liquid, and more comprehensive ecosystem.
👍 **Why it's the greatest advantage...**
What "no incentives" at the protocol level brings to the table is something so fundamentally unique that it goes misunderstood by most in crypto.
- No incentives means there is no avenue for control through a few large staking pools.
- No staking-based consensus power means that accumulating more XRP does not automatically grant greater influence over consensus. The XRPL separates economic ownership from validator voting power, avoiding a major source of wealth-based concentration.
- No incentives means no staking-reward mechanism where the "rich get richer."
- No incentives means network operators do their job because they value the network rather than the profits they can extract from maintaining it.
- No incentives means an entire layer of economic friction is removed, offering maximally cheap protocol-level services.
**Conclusion...**
So is the XRPL at a disadvantage? Incentives bring more devs, more retail speculators, more network operators, and in turn, a more vast ecosystem. If those things are the end goal, perhaps the XRPL is at a disadvantage.
But here's what I believe is the fundamental distinction:
**What incentivizes a network to grow isn't necessarily what makes it suitable to become global financial infrastructure.**
I believe the global market at large will eventually come to value a protocol that can deliver the same services on the L1 as other chains, but do so in a maximally decentralized and neutral way. And I believe the absence of protocol-level incentives is fundamental to achieving that.
Until that time, we're faced with the reality that comparisons to other chains can suck the enthusiasm out of some people because Panos is right: the metrics are comparatively lacking versus other chains.
This is where my thesis lies.
I believe the XRPL's greatest strength will eventually outshine its greatest weakness. And when these solutions start actively competing to offer financial services to the world, I believe the XRPL will rise to the top because it will prove to be one of the most decentralized, neutral, and hardened protocols in existence.
**Last note...**
Shout-out to all the devs and operators out there grinding away on the XRPL while lacking the incentives that could take the edge off their entrepreneurial burden. 🤍
My thoughts...
The XRPL's greatest weakness from one angle is simultaneously its greatest strength from another.
**"THE BEST INCENTIVE IS NO INCENTIVE."**
👎 **Why it's the greatest weakness...**
- Incentives attract more devs. Protocol-level incentives like validator rewards and staking mean that a neutral dev looking to build a crypto project has a clear advantage in choosing a protocol where retail users/holders have a way to earn returns through staking rewards.
- Incentives also allow devs to distribute the tokens of a project to their financial advantage, while retaining large portions for themselves to control or influence the network.
- Incentives attract more operators willing to run network hardware because they can supplement their costs with validator rewards.
- Incentives bring more retail holders because they know they can earn returns through staking.
- More devs + More operators + More retail = A more active, more liquid, and more comprehensive ecosystem.
👍 **Why it's the greatest advantage...**
What "no incentives" at the protocol level brings to the table is something so fundamentally unique that it goes misunderstood by most in crypto.
- No incentives means there is no avenue for control through a few large staking pools.
- No staking-based consensus power means that accumulating more XRP does not automatically grant greater influence over consensus. The XRPL separates economic ownership from validator voting power, avoiding a major source of wealth-based concentration.
- No incentives means no staking-reward mechanism where the "rich get richer."
- No incentives means network operators do their job because they value the network rather than the profits they can extract from maintaining it.
- No incentives means an entire layer of economic friction is removed, offering maximally cheap protocol-level services.
**Conclusion...**
So is the XRPL at a disadvantage? Incentives bring more devs, more retail speculators, more network operators, and in turn, a more vast ecosystem. If those things are the end goal, perhaps the XRPL is at a disadvantage.
But here's what I believe is the fundamental distinction:
**What incentivizes a network to grow isn't necessarily what makes it suitable to become global financial infrastructure.**
I believe the global market at large will eventually come to value a protocol that can deliver the same services on the L1 as other chains, but do so in a maximally decentralized and neutral way. And I believe the absence of protocol-level incentives is fundamental to achieving that.
Until that time, we're faced with the reality that comparisons to other chains can suck the enthusiasm out of some people because Panos is right: the metrics are comparatively lacking versus other chains.
This is where my thesis lies.
I believe the XRPL's greatest strength will eventually outshine its greatest weakness. And when these solutions start actively competing to offer financial services to the world, I believe the XRPL will rise to the top because it will prove to be one of the most decentralized, neutral, and hardened protocols in existence.
**Last note...**
Shout-out to all the devs and operators out there grinding away on the XRPL while lacking the incentives that could take the edge off their entrepreneurial burden. 🤍
There seems to be a big controversy around XRP and XRPL. Again.
Here’s my perspective after more than a decade in this space, as an XRP holder and someone who spent years building and contributing to this ecosystem.
Am I bullish on XRP & XRPL long term? Yes.
Am I bullish on its currs that be that make the important decisions? No.
Is XRPL at a serious disadvantage compared with most other ecosystems? Yes.
Those positions are not contradictory. Believing in the technology does not mean following blindly and defending everyone shaping its future.
I’ve read the posts from @IOV_OWL, @MasonVersluis and @MinusWells and comments from community members and the concerns are valid and deserve real answers and not dismissal.
Nobody needs another promise, speculative partnership thread or statement about XRP being the “north star.” The community deserves results. Execution. Products people actually use.
And right now, XRPL is falling short.
The attached chart shows a constant decline in important metrics such as TVL, liquidity, and volumes, with daily DEX volume currently being at only ~$5m and TVL at ~$35m.
For an ecosystem with this much history, attention and access to resources, that should concern everyone. Where is the depth of liquidity? Where is the broad selection of useful applications? Where are the compelling assets ordinary users can actually access?
Announcements are not adoption. Partnerships are not liquidity. Integrations and tokenizing something is not the same as creating demand for it.
We also need to stop treating three different things as interchangeable:
Ripple succeeding as a company.
XRPL growing as a network.
XRP capturing value from that growth.
One does not automatically prove the others.
If utility is the thesis and XRP is a commodity, explain the mechanism. What creates sustained demand? How does activity translate into value for holders?
Those are reasonable questions. Asking them is not FUD.
I’ve been raising these issues for over a year, writing about my experience as a builder and the obstacles within this ecosystem. The community deserves more. The builders deserve more than encouragement without the support and distribution needed to succeed.
And we need to be honest about Ripple’s role.
Yes, Ripple doesn't unilaterally control the network. But Ripple's resources, relationships and position give it an outsized ability to move this ecosystem forward. They are the only ones who can make big things happen. In my view, expecting smaller independent teams to compensate for a lack of urgency at that level is not realistic. Especially with non-existent activity and revenue to compensate for it.
That responsibility deserves scrutiny. Challenge the decisions, the economics and the results. In the end, it's execution and results that matter, the rest is irrelevant.
I’m writing this because I want XRPL to succeed, not because I’ve stopped caring.
I’m less active in the community because I’m tired of the constant drama and the gap between what gets promised and what gets delivered. I'm fully focused on building useful products and getting them into people’s hands.
XRPL can still have a strong future. But marginal improvements, marketing and another round of bullish statements will not be enough.
It needs a higher standard of execution. And a community willing to demand it.
Believing in XRP should not mean lowering your standards for it. The community should stand up.
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Utility Obviously ⚖️ retweeted
XRP self-loathing has become evermore violent and demented. It's borne from ignorance, false expectations, and financial anxiety.
What's interesting about XRP self-loathing is that its practitioners clearly lack a coherent thesis, but at the same time their intuition isn't terrible.
You can tell that they know there's something happening here, with what it is not being exactly clear.
-
On a positive note, I'm also noticing a few self-loathers of yesteryear no longer participating, which is fantastic to see.
What's interesting about XRP self-loathing is that its practitioners clearly lack a coherent thesis, but at the same time their intuition isn't terrible.
You can tell that they know there's something happening here, with what it is not being exactly clear.
-
On a positive note, I'm also noticing a few self-loathers of yesteryear no longer participating, which is fantastic to see.
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Why doesn't #XRP's price move with all these announcements?
Why should it?
Do you see other chains having monumental price movement with announcements? No.
Why do people hold XRP to a higher standard than most other chains?
Why should it?
Do you see other chains having monumental price movement with announcements? No.
Why do people hold XRP to a higher standard than most other chains?
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Utility Obviously ⚖️ retweeted
1/4 🧵 How is @Ripple powering institutional DeFi and regulated RWA infrastructure in Brazil? 🇧🇷✨
The official Next Report #7 (Batch #8) by Fenasbac is out, highlighting Ripple's role as a corporate maintainer driving real-world financial innovation on the #XRPL.
The official Next Report #7 (Batch #8) by Fenasbac is out, highlighting Ripple's role as a corporate maintainer driving real-world financial innovation on the #XRPL.
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Utility Obviously ⚖️ retweeted
This video could change your life!
Wisdom and philosophy from an amazing human I came across on the streets of London totally by chance.
📸 WATCH!
Wisdom and philosophy from an amazing human I came across on the streets of London totally by chance.
📸 WATCH!
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Utility Obviously ⚖️ retweeted
If you are in banking and digital assets you should keep an eye on what Jamie Walker and the team at @usbank are doing. Trailblazers. So proud to have them building on @stellaorg
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This is a really good fallacy that I rarely get to discuss.
Sir. You don't seem to understand, so I'll demonstrate with the help of AI, because I don't want to spend a few hours doing the work myself.
The probability of finding the result you want while also controlling the variables is 100%. This is called the Texas Sharpshooter fallacy.
Just like the probabiliname in the US Constitution connected to the word 'OTHER', while controlling the spacing variables of the characters around it is also 100%
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What a horrible take. 🤦♂️
So Garlinghouse said he believes "Xrp will continue to break out as the gold standard..". Then Schwartz said he sees "mass retail adoption" in 3-5 years. And these are BAD comments?
Not to mention the moronic take that retail adoption isn't a good thing? Do you understand that institutions serve retail? And that without retails money, the institutions don't exist. The end user for all institutions are retail. You cannot have retail adoption without institutions.
So Garlinghouse said he believes "Xrp will continue to break out as the gold standard..". Then Schwartz said he sees "mass retail adoption" in 3-5 years. And these are BAD comments?
Not to mention the moronic take that retail adoption isn't a good thing? Do you understand that institutions serve retail? And that without retails money, the institutions don't exist. The end user for all institutions are retail. You cannot have retail adoption without institutions.
WHY DOES THE @RIPPLE CEO & CTO DO NOT LOOK CONFIDENT IN @XRP?
Brad Garlinghouse @bgarlinghouse and David Schwartz @JoelKatz were asked where they see $XRP in 5 years…
Brad takes an deep breathe before answering, and David says “mass RETAIL adoption”
David’s answer was a smacP holders… retail adoption? Are you kidding me? The whole point of XRP is INSTITUTIONAL adoption, not RETAIL adoption.
@JoelKatz your answer really made me question ripple’s faith in XRP.. I’m genuinely disappointed in that answer “retail”…
XRP holders are tired… it’s time someone stands up for the RETAIL holders to make ripple put more effort into helping XRP price appreciation
We are tired of the games, XRP holders have been patient for YEARS…
#xrp #xrparmy #xrpcommmunity #ripple #mystery
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To everyone frustrated, discouraged, or angry about #XRP's price action, here's my challenge:
Name ONE crypto whose price is demonstrably driven by utility demand in a regulated environment.
The point? We haven't yet seen what mature, large-scale digital asset adoption looks ll price it.
Name ONE crypto whose price is demonstrably driven by utility demand in a regulated environment.
The point? We haven't yet seen what mature, large-scale digital asset adoption looks ll price it.
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Expectations will be humbled. Then hindsight will have you wishing you took a different path.
Invest according to principles and fundamentals. Keep yourself educated while you wait out regs and adoption.
Take some profit along the way as an offering to the Hungry Ghost.
Invest according to principles and fundamentals. Keep yourself educated while you wait out regs and adoption.
Take some profit along the way as an offering to the Hungry Ghost.
Eight fukin years ago $XRP was $1.29, today it's....$1.29!!!!
Posting and confirming riddles ramping up, massive ads.
Price still shit!!!
$XRP nfa
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