Tensions have risen within the cryptocurrency community following comments by Raoul Pal, the founder of Real Vision, regarding established cryptocurrencies such as XRP and Cardano. Pal’s statements in a video shared on X, ignited strong reactions from supporters of these digital assets.
Pal, known for his influential opinions in the financial world, recently advised market participants to reconsider their investments in older cryptocurrencies like XRP and Cardano.
He suggested that investors should divest from these so-called old coins in favor of newer, emerging projects with momentum. Pal went further, controversially referring to the XRP and Cardano communities as “cults,” a characterization that did not sit well with many in the crypto space.
Charles Hoskinson’s Response
Charles Hoskinson, the creator of Cardano and a prominent figure in the blockchain industry, was among those who took issue with Pal’s remarks.
In response to Pal’s characterization of Cardano and XRP communities, Hoskinson posted on X: “So @bgarlinghouse, when are we going to the Secret Cult meetings? I never got the memo from Raoul.” This statement challenges the notion that the dedication of these communities can be dismissed as mere cult-like behavior.
Hoskinson’s tone shows the frustration many feel when their efforts to build and foster communities around projects they believe in are trivialized. His response highlights the depth of commitment within these communities, which have played crucial roles in the development and success of their respective blockchain projects.
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Community Reactions
Pal’s comments not only provoked a response from Hoskinson but also triggered a wave of reactions from members of the XRP and Cardano communities. One user on X commented, “Imagine how cynical and narrow one’s worldview has to be to conflate authentic community and engagement for a cult.”
This response reflects a broader sentiment among the community that their dedication to these projects stems from genuine belief in their potential, not from blind allegiance.
Another user expressed disappointment in Pal’s apparent shift in priorities, stating, “I had respect for this guy, but since he started shilling Solana, while he knows Sol has outage issues, many failed transactions, and it’s heavily centralized, he lost my respect.”
He highlights concerns about Pal’s endorsement of Solana, which has been plagued with outages, and some perceive Pal as being motivated by financial gain rather than technological merit.
For communities like XRP and Cardano, commitment goes beyond mere investment; it is rooted in a belief in the long-term potential and societal impact of their respective projects.
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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