With the steady rise in popularity, cryptocurrencies such as Bitcoin and Ethereum seem to be everywhere. There are “crypto” commercials running during the Super Bowl, stadiums and arenas are being renamed after cryptocurrency exchanges. The new tech boom seems to be centered around digital assets and the accompanying technology. There are even so called meme coins named after dogs, television shows, celebrities, and even politicians. There seems to be a new country in the news every week making statements about cryptocurrency with their own looming laws and regulations regarding this (semi) new technology.
We have officially entered the new age of investing and with that, a new breed of investor. The crypto markets run 24 hours a day, 7 days a week. The charts are relentless, the information flowing like raging rivers. Sentiment rises and falls as swiftly as the tides. Fortunes are made and lost in weeks and hours, instead of months or years.
Those investors, crypto investors, from all walks of life, from all social classes, from every economic situation on Earth, ingest endless cycles of news keeping one ear out for one of the biggest stories in all of crypto. The SEC v. Ripple Lawsuit. This lawsuit is at best a circus and at worst an utter farce; a stain on the government agency tasked with keeping investors safe. If you are unfamiliar with the lawsuit a quick online search for Ripple, or their token XRP, is a good place to start. Also, any content from John Deaton, the attorney for XRP holders.
You can view the video below…
The cryptocurrency token XRP itself is a lightning fast, cheap and secure digital asset for real-time global payments. This brings us to the XRP Ledger. The ledger is, in their own words, “a decentralized, public blockchain led by a global developer community.” In a nutshell it is a place where developers can design, create, and launch their own crypto projects. This allows innovation in the crypto space to be accessible, while being built on the incredible technology of the XRP blockchain.
Enter the Reaper. The Reaper project is built on the XRPL and seeks to “bring balance to the blockchain.” At the time of this article the Reaper project is a mere two and a half months old. It sits at a current market cap of 2.6 million dollars USD with a current supply of 103 million tokens, with only a mere 73 million circulating supply. It has lit the entire XRPL on fire, literally and figuratively. They have burned trillions of tokens from projects voted on by their holders, (check out how The Reaper works here),thereby reducing the supply and increasing the value of the remainder tokens. They have plans for DEFI in the future that will revolutionize finance and cryptocurrency as a whole.
So how does this gem of a project tie into the whole of the crypto market and the looming decision from the SEC? It doesn’t just tie in, it blows the doors off the argument of XRP as a security. It lights the entire case on fire, as if it were just another token voted for Reaping by it’s holders. The Reaper, showed in two months that not only is the SEC wrong, they don’t have a leg to stand on. By burning tokens from other projects, The Reaper demonstrated unequivocally that cryptocurrency is property. It can be purchased and destroyed and there isn’t a thing the issuing project can do about it. It is the property of the owner and the owner can send that property to it’s demise, at will, if they so choose. The Reaper. Don’t let it’s small market cap fool you. They have an incredible team with an incredible vision. They have a bright future ahead. The revolution is happening. The new age of currency and digital bartering with digital property is upon us. The Reaper is going to be in the midst of this revolution for a very long time and Reaping projects is just the beginning. Cryptocurrency, and the Reaper, are undeniably here to stay.
Original Credit: B. R. Johnson
