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One of the articles published this week said that a company called "Valor" is more likely to take control of "XRP" that has attracted the attention of Ripple presidents. The article, entitled "The hostile takeover effort emerges for a popular cryptocurrency" is just a rumor and makes no sense – neither technically nor economically.
When the blog was shared on Twitter by Dan Primack, who is the chief editor of the news website called "axios.com", Ripple's Chief Technical Officer, David Schwartz calls it "fun". It makes it explode by saying "not technically possible".
This is fun. A hostile takeover of XRP Ledger is not technically feasible nor does this plan make economic sense.
– David Schwartz (@JoelKatz) January 15, 2019
Following this, CEO Brad Garlinghouse also fired Dan Primack and states that he "wants to sell snake oil". His tweet reads it;
.@danprimack wants to sell snake oil … all the buyers out there !? The media have a responsibility to help the industry understand that it is the hype against the substance, not to propagate blatant attempts to manipulate the market. When will the media coverage of this sector mature? https://t.co/QzZ3MxoyNR
– Brad Garlinghouse (@bgarlinghouse) January 15, 2019
However, the article was published for the first time on January 15, 2019 on "axios.com". He claimed that the company called "Valor" is taking over XRP. He mentioned that the Valor, which was launched in 2017 by Vishal Harpalani, aims to conquer XRP by creating a "fork" or "clone" of XRP. The drama did not stop at this level, the article also read that the XRP acquisition plan will be implemented after collecting "tens of millions of dollars" through a debt instrument and not an ICO. In addition, the article says that the company will first lower the price of XRP and when XRP will actually be devalued, the company will then distribute token Valor in exchange for XRP.
The value would redistribute extra Valor to its community and incentivize the owners to exchange even more their now depreciated XRP. Basically, it forces a capital flight., It reads the article
The article reports several red flags that any crypt enthusiast or specifically XRP owners can quickly find what they believe and what they do not believe. Furthermore, it should be noted that the Vishnal Harpalani, which should be the founder of value, makes no public comment. Furthermore, nothing on the Valor company is available online.
Given these facts, many statements have appeared in the article or indeed the whole article is fraudulent or extremely hypothetical. In addition, the backfiring response of key Ripple executives attracts the attention of many followers and members of the XRP community. They too began to respond to what seems really false.
The plan, as described in the article, makes so little sense that everything should be written in a dubious and skeptical tone from the first sentence.
Instead, wait until the 5th paragraph to raise doubts. I do not think we can call it "simply doing my job as a journalist".
– Ian Fisch (@Ian_Fisch) January 16, 2019
What do you think of the "Takeover hostile" voices?
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