Charles Hoskinson, the founder of Cardano, recently commented on a post by veteran trader Peter Brandt, who extended what he described as an “olive branch” to the XRP community.
In response, Hoskinson, who once had disagreements with the XRP community, tweeted, “Peter’s coming around to XRP Nation.”
Peter's coming around to XRP Nation https://t.co/9A6zFYNFEq
— Charles Hoskinson (@IOHK_Charles) January 12, 2025
Peter Brandt’s Message to the XRP Community
Peter Brandt, known for his extensive experience in commodities trading, addressed the XRP community in a recent social media post, reflecting on his past criticisms of XRP and its supporters. Brandt acknowledged taking “some hard shots” at XRP and its community over the years.
Brandt conceded that some of the backlash he received from the XRP community was warranted, while other responses were “outright uncivil” or even “funny and creative.” He elaborated on the reasoning behind his critiques, emphasizing that they stemmed from his perspective as a professional trader focused on preserving capital.
Criticism Rooted in Trading Philosophy
In his post, Brandt explained his long-standing reservations about XRP’s performance relative to Bitcoin, which he called the “store of wealth” standard. He highlighted XRP’s history of steep declines, noting repeated losses of 80%, 90%, and even 97% in value against Bitcoin.
From Brandt’s perspective, holding onto a speculative asset that consistently underperforms compared to a more stable option, such as Bitcoin, is irrational. He described this approach as “the definition of insanity,” particularly when investors continue to hold the asset despite repeated poor performance, expecting a different outcome.
Focus on the Community’s Attitude
Brandt clarified that his criticisms were not aimed at XRP supporters as individuals but rather at their attitude during significant losses. He specifically called out what he described as a “dogmatic, obnoxious, often unintelligible defense” of XRP during its downturns.
While Brandt acknowledged that his critiques might have appeared harsh, he reiterated that his focus was on what he saw as the imprudent financial behavior of defending substantial losses, rather than the community’s broader commitment to improving their financial circumstances.
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A Positive Note and Farewell
In closing, Brandt expressed a more conciliatory tone, stating that he was happy for the recent success of the XRP community. He emphasized that he would never criticize their achievements, only how they defended losses in the past.
In his words, “I would never disparage your success, only your attitude of defending 90% declines against an asset with more stability.” He also declared that this would be his final public commentary on XRP.
Hoskinson’s Response Highlights a Shift
Charles Hoskinson’s lighthearted response to Brandt’s post suggests that he views the trader’s remarks as a potential shift between XRP supporters and their critics.
Although Hoskinson has had disagreements with the XRP community, he shared new perspectives last year on potential opportunities for collaboration between the Cardano and XRP ecosystems.
This interaction between prominent figures in the crypto industry underscores the ongoing discussions around XRP, its performance, and the passionate community that supports it.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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