Recently, during a Podcast with Anthony Pompliano, famously known as the Pomp, Mike Dudas, the Founder of The Block said that the Ripple community is unhealthy.
During the talk, one of the topics was crypto-community spaces, where the duo discussed good and bad crypto community spaces. Comparing crypto fan bases to rabid fan bases of sports teams in the real world, Mike said the two are very analogous. He also added:
“In the crypto ecosystem, people come with, and you’ve heard this before, I’m not saying anything particularly novel in this area, but with almost a religious belief and an anchoring and a strong bias and as strong a tribal nature to associating with specific projects as I have ever seen.”
The Bitcoin maximalist, Mike considers Ethereum [ETH] and Bitcoin [BTC] to be genuine examples of good community spaces. In Mike’s opinion, a lot of developers have been flocking towards Ethereum.
Despite the language of Solidity not being “Ethereum-specific” people really want to work on the platform, which has resulted in applications and services being built on top of it. Therefore, in his context, the platform is a “really healthy, organic, natural community”.
However, he stated that while some rabid fan bases come across as good, some can prove to be a curse. In his experience he has seen many “unhealthy communities,” and the Ripple community is one of them. He stated:
“The obviously canonical example of that is Ripple. Ripple has a centralized structure. Ripple Corp basically says, “hey, we put our tokens in escrow” but still, you know they’re obviously under their control and they’re released over a period of time.”
Moreover, the ‘The Block’ Founder went on to state that Ripple has a host of people who are “Ripple extremists”. Moreover, he believes that such people become a hive mind in public and really come after anyone who questions the validity of Ripple and XRP.
Speaking of bots, Doudas said:
“And bots, Ripple’s the case where there’s certainly real people who are supporters, but there’s no question that there are tens of thousands of bots associated with Ripple.”
Agreeing to the fact that Ripple houses individuals who wish to see it succeed, he said, he witnessed the corporate team’s exceptional professionalism and called them talented. However, in his opinion, he believes that the team is responsible for manipulating the prices of tokens, He told Pompliano:
“And they’re also very talented at increasing the value of things related to the corporation they’re working for. And the token is clearly part of that.”
Mike also accused the Ripple team of encouraging its prominent tweeters to pursue a sort of “mini-celebrity game” also adding that such measures were unhealthy and one that Ripple knows helps to artificially support the token price.
In conclusion, when Pomp asked how companies like Ripple can drive value to themselves, Doudas stated:
“I think one way that they could basically eliminate all doubt is to say, “hey, instead of compensating ourselves in this token XRP” — which the founding team has, the leadership has and David Schwartz has. They could choose to basically renounce those tokens. And take more value in the equity of Ripple the corporation, which clearly has a connection to XRP the token. But it would reduce questions, as to whether there are ulterior motives when they are announcing things. That’s just one simple thing.”
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