Creator of Dogecoin Jackson Palmer commented on Ripple and it’s fans in a recent podcast with Laura Shin.
Among the topics that were discussed in Laura’s podcast, XRP was at the highlight of the discussion. Jackson who is also the creator of the ‘Are we decentralized Yet’ website is of the opinion that the marketing by Ripple is similar to InititativeQ.
InitiativeQ has gained a lot of popularity recently mainly because of its referral program and claims of becoming the future of payments. The project which is not even a Cryptocurrency has received wide criticism as it closely resembles a pyramid scheme.
However one doesn’t have to invest any money into it initially, just have to share their email ID’s which has led to a lot of people asking their friends to join the network. Palmer says that this is the similar kind of mentality that Ripple’s community members share.
“They (InititativeQ) piggyback on a lot of the things that say Bitcoin has gone out with over the last ten years as its value proposition rethinking global money and making payments free and fast and all of these great benefits. But it says we are different and we are better than Bitcoin”
Then he goes on to talk about the how InitiativeQ is using PayPal as a selling point and people sharing the same copy-pasted narrative around it.
“I think it’s those sound bites…they are fed to people so that they can copy paste them really easily…Ripple as a company has been able to do a similar thing if you look at some of the people on the community team…If you look at their Twitter presence it’s absolutely off the charts in terms of how much they are manipulating Twitter as a medium for promoting Ripple whether it’s them or if they’ll claim that they don’t own the bot network…Ripple is just like Initiative Q without referrals.“
Here are some of the highlights of the podcast:
- Ripple has a very concentrated and focused marketing department with a big budget.
- It is easier to market Ripple (XRP) as it is centralized and has a single narrative unlike Decentralized Cryptocurrencies like Bitcoin and Ethereum which is spread across hundreds of projects who don’t share the same vision.
- Ripple has done a good job in creating a hype focusing on a single narrative.
- XRP fans are usually non-Crypto people who have not invested in any other Cryptocurrencies other than XRP making them more susceptible to marketing.