.@danprimack wants to sell some snake oil… any buyers out there!? Media have a responsibility to help the industry understand what’s hype vs. substance, not to propagate blatant attempts at market manipulation. When will media coverage of this industry mature? https://t.co/QzZ3MxoyNR
— Brad Garlinghouse (@bgarlinghouse) January 15, 2019
The business aspect also has several red flags: Vishnal Harpalani, the entrepreneur who is supposedly behind Valor, hasn’t made any public statements about the project. Furthermore, Valor itself doesn’t have an online presence and is not listed on Harpalani’s venture site, despite the fact that it has reportedly existed since 2017. One supposed technical advisor, Alan Braverman, has refused to comment. Perhaps worst of all, Valor’s business plans have changed entirely over the past year.
These factors seem to indicate that Valor’s plan either doesn’t exist, is extremely hypothetical, or is entirely fraudulent. Although Primack was able to contact Harpalani, who acknowledged plans for a takeover of an unspecified cryptocurrency, Primack also suggested that the information was originally leaked to him. This means that unknown actors may be trying to manipulate the market by spreading fringe ideas.
Nevertheless, the question remains: could a blockchain suffer a takeover? The idea seems to be a blend of regular blockchain activities, and Primack notes that some reporters have considered the possibility. However, the concept hasn’t been taken seriously by professionals, and it is possible that “takeovers” could quickly become part of the rhetoric used by dubious projects—something that should be kept in mind.
source: https://unhashed.com/cryptocurrency-news/ripple-execs-dismiss-hostile-takeover-rumors/
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