Ex-Ripple employee gives three reasons why the US government cannot confiscate XRP
According to Matt Hamilton, among other things, the decentralized model of cryptocurrency will prevent this
12.01.2023 - 13:00
355
2 min
0
Ripple's former director of developer relations, Mat Hamilton, once again addressed the XRP community, clarifying rumors of a possible government buyback of the token from the market. Like last time, he stated that such a course of action would not be possible, the main reason being that the value of digital assets is ascribed by their users.
There is a small, but very vocal minority of the XRP Community that is promoting a crazy idea of the US government buying back / confiscating XRP from US citizens, yet for some strange reason compensating them 100's of 1000's of % above market rate. — Matt Hamilton (@HammerToe) January" class="redactor-linkify-object">https://twitter.com/HammerToe/status/1613332112010... 12, 2023
"XRP and Bitcoin have no intrinsic value; their value is determined by a set of transactional rules devised by a decentralized group of people," the developer argued.
What XRP confiscation?
As well as refuting yet another round of nonsense about XRP being bought back by the government, Hamilton also broke down talk of possible confiscation. This speculation has emerged as an extension of the original conspiracy theory. As a reminder, there are rumors that XRP is to be confiscated from the market by the same government for its own use and so that the technology is not spread anywhere else.
Ads Related XRP and Cardano (ADA) Products Launched by Major Exchange According to Hamilton, confiscation of XRP is impossible for at least three reasons. First, the developer notes, XRP is a decentralized cryptocurrency and cannot be seized without forcing key holders. Second, it is easier for the government to create its own digital token if it need it for its own use. Finally, if the U.S. government restricts everyone from using XRP, it would kill any use of the token and it would simply be replaced by a fork.
This material is taken from the website https://u.today.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$99 127
BTC
+1.04%
-
Ethereum
$3 304.58
ETH
-1.39%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.46
XRP
+29.63%
-
Dogecoin
$0.407134
DOGE
+5.25%
-
Cardano
$0.967289
ADA
+20.81%
-
Bitcoin Cash
$487.42
BCH
+0.13%
-
Stellar XLM
$0.311741
XLM
+30.7%
-
Polkadot
$6.32
DOT
+8.37%
-
Litecoin
$90.6
LTC
+1.5%