SEC sue Ripple. Price tanked

[t2van]

About 90% of the threads on here have no clue what XRP/Ripple is on about. OR no doubt the real issue is considered them self a day trader expected a massive jump and got burnt and now the thing is a "shit coin"

In basic terms it / they are trying to become the future of SWIFT payments how can a bank which sends billions if not trillions daily trust something that is decentralised?

Of course it's going to get some heat and bring some law suits because it's one of a few with a building and a name behind it which people can target.

Like any future monopoly it's going to get the current holders pushing after it as it simply does not like them.


The other replies about it all become decentralised and "fuck the man" and avoid taxes just show how immature most of you lot are and have no concept on the real world. When I was younger I voted for the left and when I grew up I voted for the right. I'm sure that's something many of you will soon start to realise.

Taxes make the world go round, love them or hate them ITS NOT ABOUT PAYING TAX. That is not the issue... The issue is the government! How those funds are allocated is where the changes is needed.

If you stop paying taxes and so does everyone else. How are you all going to drive your lambo down the road with so many pot holes?

 

[magicjones]

So does everyone else on the planet.


Validators selected by Ripple but made up of many different groups that are all autonomous (at least they are meant to be).


There's nobody managing BTC and ETH?! SEC could go after the Bitcoin Foundation, you could go after Vitalik Buterin.

The reason the SEC doesn't "go after" BTC and Ethereum is because they aren't doing anything the SEC deems illegal, not because there's no human beings that have direct input into the way that they operate.

The reason they're attempting to prosecute Ripple is more than likely strategic, as I already said.


I never knew the criteria for an asset to be classed as a security was having a company that takes a central role? I bet the SEC didn't either.

Well, you seem to really know what you're talking about


Sure, I get that you'd argue that it's not a cryptocurrency. That means literally zero though.

You're dreaming and missing the point—Ripple, the company, controls the network as a centralized authority. They can exert unilateral control.

Bitcoin Foundation can not do this, nor can Vitalik.

Re: Securities. It's all about the third element of the Howie Test. Ripple, the company, provides essential management that affect the success, and investors expect to derive profit from these efforts, then the test is met. E.g. The company's efforts in RippleNet

 

[Deleted member 1333509]

You're dreaming and missing the point—Ripple, the company, controls the network as a centralized authority. They can exert unilateral control.

Bitcoin Foundation can not do this, nor can Vitalik.

Re: Securities. It's all about the third element of the Howie Test. Ripple, the company, provides essential management that affect the success, and investors expect to derive profit from these efforts, then the test is met. E.g. The company's efforts in RippleNet

I've said everything I have to say about this without creating a circular argument and saying everything all over again.

I hope XRP comes back up at some point and you get your money back. Good luck.

 

[magicjones]

I've said everything I have to say about this without creating a circular argument and saying everything all over again.

I hope XRP comes back up at some point and you get your money back. Good luck.

No worries, it's clear to me (and the SEC) that XRP is a scam.

It's on Ripple to prove otherwise.

Ps. Never bought into it, some story you're creating lol.

 

[Deleted member 1333509]

No worries, it's clear to me (and the SEC) that XRP is a scam.

interesting discussion anyway.

 

[magicjones]

For sure, no hard feelings.

 

[konrado123a]

About 90% of the threads on here have no clue what XRP/Ripple is on about. OR no doubt the real issue is considered them self a day trader expected a massive jump and got burnt and now the thing is a "shit coin"

In basic terms it / they are trying to become the future of SWIFT payments how can a bank which sends billions if not trillions daily trust something that is decentralised?

Let me understand. You really believe that something such unstable like XRP can replace SWIFT? How do you imagine that? Let`s say I want to send $100mln, the bank send it via XRP and in the same moment XRP drops 5%. Who will be short of 5 mln? The bank? Me? It`s ridiculous

 

[CyberHour]

If there is a scamshit crypto coin in top 10.. it is XRP.

 

[t2van]

Let me understand. You really believe that something such unstable like XRP can replace SWIFT? How do you imagine that? Let`s say I want to send $100mln, the bank send it via XRP and in the same moment XRP drops 5%. Who will be short of 5 mln? The bank? Me? It`s ridiculous

Do you know how long it takes to send money from one country to another? Who do you think is earning interest on them transfers or does the money simply land in limbo.

It's a digital solution to an analog system.

The VERY fact you think that the future of XRP is going to be controlled by such fluctuations as bitcoin tells me you don't understand how the process works let alone what Ripple / XRP is about.

 

[kangarooJohnny0789]

xrp will win and get stronger than ever.

 

[razorsharp]

I'm not surprised.

97.6% of crypto is a scam

 

[D4RKSH4M4N]

i don't believe and i will never believe in this shitcoin because it doesn't reflect the concept of anonymity, but i think it will be a momentary crash so if one wants to speculate should keep an eye on it because now it will go down but in the future it could rise from the ashes because as already mentioned in the past by CEO Brad Garlinghouse, it could be guaranteed by the transfer of the headquarters outside the U.S. border.
On the list is the United Kingdom, whose clear taxonomy is appreciated by the fintech top brass, but also Switzerland, Singapore, Japan and the United Arab Emirates would be considered in case of a move.
After what happened to ripple also possible for a large slice of shitcoin

 

[lokatel]

That’s why bitcoin is safe whom will they sue? Glad don’t have this coin

sec can target to tether, gov want to regulate stable coins, so tether is a little bit shady, if tether falls, everything on the cryptomarket including BTC will fall too

 

[Toz]

The VERY fact you think that the future of XRP is going to be controlled by such fluctuations as bitcoin tells me you don't understand how the process works let alone what Ripple / XRP is about.

Indeed. XRP aside, it's funny when people speak on cryptocurrency as if Bitcoin has never rapidly fluctuated and dropped in value.

You're correct about how the vast majority of people in these threads have no idea about XRP while speaking do passionately against it, no matter how facetious and misleading their words are.

Exhibit A:

Re: Securities. It's all about the third element of the Howie Test. Ripple, the company, provides essential management that affect the success, and investors expect to derive profit from these efforts, then the test is met. E.g. The company's efforts in RippleNet

Exhibit B:

i don't believe and i will never believe in this shitcoin because it doesn't reflect the concept of anonymity

Cryptocurrency is not and never has been 100% about anonymity. It's always been about speed, personal empowerment, efficiency, more control over your own finances, more cost-effective transactions, and security.

If you want 100% anonymity, there are coins for that. Of course you're still going to need to think beyond just the coins. And no, a VPN doesn't make you anonymous, either.

XRP has never been promoted as an anonymous solution. That's not what it's for. XRP is for doing what Bitcoin does, but better. It's thousands of times faster. It's even much faster than Ether, which is many times faster than Bitcoin. XRP is also cheaper. It's just a really good digital asset.

Anyway, I'm not here to change minds. Believe what you want. I'm not your financial adviser. I'm not giving investment advice, either. I'm simply sharing my personal thoughts. Do what you want -- or don't. I'll just keep filling my bags.

 

[GravenJ]

I have never had interest in xrp and i'm not starting now

 

[blackbeans]

Any predictions on how low XRP is going to sink?

 

[D4RKSH4M4N]

Indeed. XRP aside, it's funny when people speak on cryptocurrency as if Bitcoin has never rapidly fluctuated and dropped in value.

You're correct about how the vast majority of people in these threads have no idea about XRP while speaking do passionately against it, no matter how facetious and misleading their words are.

Exhibit A:

Exhibit B:


Cryptocurrency is not and never has been 100% about anonymity. It's always been about speed, personal empowerment, efficiency, more control over your own finances, more cost-effective transactions, and security.

If you want 100% anonymity, there are coins for that. Of course you're still going to need to think beyond just the coins. And no, a VPN doesn't make you anonymous, either.

XRP has never been promoted as an anonymous solution. That's not what it's for. XRP is for doing what Bitcoin does, but better. It's thousands of times faster. It's even much faster than Ether, which is many times faster than Bitcoin. XRP is also cheaper. It's just a really good digital asset.

Anyway, I'm not here to change minds. Believe what you want. I'm not your financial adviser. I'm not giving investment advice, either. I'm simply sharing my personal thoughts. Do what you want -- or don't. I'll just keep filling my bags.

I understand what you are saying but I did not say that cryptos are 100% anonymous, since 2009 a lot of things have changed about the crypto world, certainly not thought to be applied the laws of the banks which was designed to be outside of those rules. think until three years ago I bought bitcoin without kyc now instead it is mandatory to declare because then you have to pay taxes for what you hold.

 

[Toz]

I understand what you are saying but I did not say that cryptos are 100% anonymous, since 2009 a lot of things have changed about the crypto world, certainly not thought to be applied the laws of the banks which was designed to be outside of those rules. think until three years ago I bought bitcoin without kyc now instead it is mandatory to declare because then you have to pay taxes for what you hold.

You can still buy BTC right now without KYC. By the way, KYC is not what made BTC not anonymous. Perhaps you should take an IT course on Networking and Security. In the bigger picture of it all, KYC had nothing to do with whether or not you were anonymous.

 

[Deleted member 283687]

Do you know how long it takes to send money from one country to another? Who do you think is earning interest on them transfers or does the money simply land in limbo.

It's a digital solution to an analog system.

The VERY fact you think that the future of XRP is going to be controlled by such fluctuations as bitcoin tells me you don't understand how the process works let alone what Ripple / XRP is about.

I think you are getting everything wrong there are 2 different things .
1)Ripple-cryptocurrency(they call themselves as cryptocurrency)
2)Ripple-The technology which banks adopted ,thats a very good technology which is not decentralized and it acts like regular bank transfer.

None is against the technology ripple which lots of banks have adopted to use ,people are against the so called cryptocurrency ripple which is centralized and truth of supply is not fully disclosed to the public so when the supply vs demand breaks the system itself breaks down ,this is what i was talking about for a longtime .

Hope you dont confuse Ripple (the technology) with the Ripple cryptocurrency

 

[Deleted member 283687]

Indeed. XRP aside, it's funny when people speak on cryptocurrency as if Bitcoin has never rapidly fluctuated and dropped in value.

You're correct about how the vast majority of people in these threads have no idea about XRP while speaking do passionately against it, no matter how facetious and misleading their words are.

Exhibit A:

Exhibit B:


Cryptocurrency is not and never has been 100% about anonymity. It's always been about speed, personal empowerment, efficiency, more control over your own finances, more cost-effective transactions, and security.

If you want 100% anonymity, there are coins for that. Of course you're still going to need to think beyond just the coins. And no, a VPN doesn't make you anonymous, either.

XRP has never been promoted as an anonymous solution. That's not what it's for. XRP is for doing what Bitcoin does, but better. It's thousands of times faster. It's even much faster than Ether, which is many times faster than Bitcoin. XRP is also cheaper. It's just a really good digital asset.

Anyway, I'm not here to change minds. Believe what you want. I'm not your financial adviser. I'm not giving investment advice, either. I'm simply sharing my personal thoughts. Do what you want -- or don't. I'll just keep filling my bags.

see ,Ripple is shady the supply 100 billion tokens? and most of it controlled by the company ? ) still you believe in Xrp ?