He stated that he is going to buy “3 Bitcoins worth of Ripple”… and he did. In case you are wondering who we are referring to, it’s not Bitcoin Cash propagator Roger Ver; it’s not Ripple’s CEO Brad Garlinghouse either. It’s Brian Kelly, CEO of a digital currency investment firm who is also a contributor on CNBC, and who has most recently been in the news for holding an on-air tutorial on how to purchase Ripple. While there have been positive developments in the cryptocurrency world regarding exposure, this doesn’t seem like one of them. In a segment that is now being dubbed as “plugging” by the
cryptocurrency community, Kelly went step by step to demonstrate how easy it is to buy Ripple, and as if to prove a point, actually traded 3 of his Bitcoins for Ripple to complete the purchase.
The details of the Segment
The particular segment was essentially a tutorial on how to buy Ripple along with telling people how it is going to be the next big thing in the cryptocurrency industry. Kelly started off by informing his viewers that Ripple’s goal is to enhance the process of international payment transfers and stressed how it would be “an upgrade to the international financial system.” He then went on to state that it’s a big market and “that’s why people are excited about it.” After the intro, he logged on to Poloniex and went on to the order page, describing it to the viewers.
Kelly pointed to his screen after trading 3 Bitcoins for Ripple:
“I didn’t have any Ripple there, now I do, so now I have about twenty-four thousand Ripple.”
He concluded by stating that:
“Ripple is one of the core protocols that will likely be a part of the digital economy.”
This has caused – for the lack of a more apt word here – a ripple in the community, with several people voicing their concerns and mocking the segment as being a demonstration of “plugging.” This includes but is not limited to Facebook, Twitter, and Reddit users among people on other community-specific forums. While mentioning cryptocurrencies in a positive light has always been welcomed by the community, it seems that this down-your-throat type of marketing, falls at the other end of the spectrum, and thus, has been despised by many in the crypto community.
Ripple Increases In Value
The cryptocurrency has been on the rise since last month and has shown a spike of more than 1,300 percent. It also recently reached its record high by passing the value of $3. In the midst of these circumstances, it is not unsafe to say that Ripple is certainly is on a positive path. However, any negative publicity of this kind might hurt its chances to be taken seriously by the cryptocurrency community, as trust and credibility are the most critical factors that every cryptocurrency needs to gain loyal supporters. If Ripple gets to have this kind of, allegedly, paid publicity, then it might work against it in the long run.