Bill Morgan highlighted XRP’s positive qualities, debunking criticism.
Critics accused Ripple of awarding all XRP tokens to themselves from the onset.
Bitcoin maximalists compared XRP’s development to Bitcoin’s.
Renowned crypto lawyer Bill Morgan highlighted some of the XRP’s positive qualities while debunking negative comments about the altcoin. In a recent post on X, Morgan noted that XRP remained a top ten cryptocurrency despite a two-year investigation and a four-year-long lawsuit.
Despite all that and a two year investigation and a four year lawsuit:1. XRP is a top ten token;2. XRP is not a security:3. XRP can be transacted in 3 seconds for a tiny fraction of one cent:4. You continue to be threatened and obsessed by it.Stop promoting it please. https://t.co/2eYQlIUMkr
— bill morgan (@Belisarius2020) August 18, 2024
According to Morgan, after the lengthy lawsuit over allegations of being a security, the court determined that XRP is not a security. The crypto lawyer also noted that the crypto token has a transaction speed of three seconds and costs a fraction of a cent to execute.
Notably, Morgan’s comments targeted addressing negative posts criticizing the XRP. One such post was from an X user identified as ScamDaddy. The user accused Ripple of awarding all the tokens to themselves and losing the first 32,569 blocks. He further accused them of selling billions of XRP tokens.
Furthermore, ScamDaddy claimed Ripple sold billions of XRP tokens and remained the number one protocol builder and marketer. Meanwhile, Chetan Kaul, another XRP critic, cited a few Bitcoin qualities, using them to highlight presumed XRP limitations.
Kaul noted Bitcoin founder Satoshi Nakamoto did not award himself or any insider any pre-mined tokens. According to him, Nakamoto published a headline from a newspaper of the previous day in the genesis block to prove that there were no secretly pre-mined blocks.
The XRP critic also noted that Nakamoto did not spend any Bitcoin of the $1 million worth of BTC that accrued to his public address. However, he left the scene after realizing he might create an overarching influence if the spotlight remained on him.
Morgan did not consider any of the points raised by the XRP critics valid enough to affect the protocol’s validity. Instead, he thinks their actions create more awareness for XRP and represent a promotion for the blockchain project.
The post Crypto Lawyer Debunks Negative Comments Targeted at XRP appeared first on Coin Edition.
