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  1. I skim read it during lunch. Some of the more juicy quotes: Among other things, Ripple alleges that a wide variety of people of “ordinary intelligence,” ranging from individual purchasers of XRP, to sophisticated exchanges and broker-dealers, to the SEC’s own commissioners and senior officers, did not know that XRP was an “investment contract” and therefore a “security,” as shown by the statements and conduct of those various actors. This alone is sufficient to plead that the law and the SEC’s guidance at the time of the alleged Section 5 violation did not “give the person of ordinary
    28 points
  2. its a humdinger of a letter https://www.crypto-law.us/wp-content/uploads/2021/04/210428_Ripple-Response-in-Opposition-to-SEC-Motion-on-Discovery.pdf So Ripple are going after SEC for using their privileged status to go beyond the law when collecting information about Ripple from overseas governments using their privileged status to not comply with the order of the court to provide discovery documents about their own internal memos and logs using their privileged status to argue that the voices 15,000 investors represented by J Deaton should not be heard
    25 points
  3. As of this writing, bitcoin transaction fees are $51.64. For those of you who are into patterns and cycles, the end of the last bull run coincided with fees going above $50. This is the first time it has happened since then. I have a BTC maxi friend. Genuinely curious, I asked him how people in bitcoin circles talk about high transaction fees; are they seen as a problem or not? He pointed me to this podcast interview with Michael Saylor. Luckily, the website shows a transcript of the whole thing, so you can scan through and browse at leisure. One of his main arguments for BTC
    23 points
  4. 0 - 6.00 About his background 1997 live in Bay area and was a techy The Peanut manifesto at Yahoo. 6.00 when he joined Ripple was working on 3 projects - global ID project/ Smart Contract and Payments - decided to focus on payments. 8.00 Need for identity tech 9.00 Mike Arrington 10.00 He is a very private person with a sense of humour 11.30 - First encounter with crypto 2012 - conference - Bitcoin - he is long on BTC and very bullish on BTC. Only other coin he ha had a lot to deal with is File coin 14.00 SEC lawsuit - he has to dodge some questions,
    23 points
  5. I don't particularly like logarithmic charts. I think they can often be misleading, making you think a move is bigger (or smaller) than it really is, sometimes massively inflating price targets. No professional trader I have ever seen solely uses log charts, or even uses them most of the time. Maybe that is because I've mostly seen traders from forex, where price moves are significant but unlikely to wildly break historical ranges, especially in a short move. That said log charts can be very useful for certain things. The main purpose of them is to show the relatively magnitude of price m
    22 points
  6. Seoulite

    Guessing corrections

    OK @banistersmind I figured I'd create a new thread for this so we don't clog up the other thread with a long post. Unfortunately you've asked me to justify the hardest prediction to justify, which is how a correction will look. This is why I said it was a very rough guess. Corrections are the hardest time in the market to trade and some traders avoid them totally for that very reason. But I will go through some of the ideas that I have been studying and others I've picked up over the last few years. First a couple of key principles of the market you need to understand: 1.
    22 points
  7. https://www.nytimes.com/2021/05/09/us/politics/cryptocurrency-regulation-sec-ripple-labs.html Excerpt from the article: "Jay Clayton, who was the S.E.C. chairman until December, is now a paid adviser to the hedge fund One River Digital Asset Management, which invests hundreds of millions in Bitcoin and Ether, two cryptocurrencies, for its clients. Mr. Clayton declined to comment. The day before Mr. Clayton resigned from the S.E.C., the agency filed a lawsuit against Ripple Labs, which competes with Bitcoin, alleging that the company had improperly raised $1.3 billion from investors t
    21 points
  8. These threads are being derailed by childish banter, could you please keep things on topic and move your chit chat elsewhere. The forum is becoming less interesting for many of us.
    21 points
  9. Happy Monthly candle close everyone! XRPBTC closed above 2555 which was my bullish level. This is a great sign. I think it is now reasonable to expect the next monthly candle to be either a 50% increase or over a 100% increase from where we are now. XRPUSD looks beautiful. Lots of clear air above us. If we repeat the previous monthly candle then we will be above $3. If we get there it will likely be higher because of the hype/fomo that will surround the ATH. Remember that the higher timeframes (monthly, weekly, daily) override what happens on the lower timeframes. Thi
    20 points
  10. I really don’t understand why the forum has been getting so heated lately when we are doing SO WELL after YEARS of being in the gutter. You’d think everybody would be saying hello, good morning, how are you? Oooh everything’s fine thank you for asking, how about you sir? Instead we get incessant fighting from what I can only imagine to be either children (teenagers), and very young adults. The old timers get caught up in it too! Just automatically ignore them, don’t even respond, it’s a waste of time, it spoils the mood and it detracts from an otherwise good thread. That stuff c
    19 points
  11. https://www.crypto-law.us/wp-content/uploads/2021/05/SEC_Memorandum-of-Law_Opposing-Motion-to-Intervene-050321.pdf Just started to read it, but one good statement by the SEC is: "this particular [SEC] action [against Ripple, Garlinghouse and Larsen] does not charge transactions between individuals in the secondary market as violations of Section 5." That's page 2 of the preliminary statement by the SEC. That suggests that the SEC is only concerned with the xrp sales by Ripple, BG and CL, and is basically saying that all other xrp transactions (taking place on the secondary market)
    18 points
  12. Looks likes the SEC keeps it dirty and the judge hopefully will not like it...
    18 points
  13. Disclaimer: the post is not intended as advice on anything. It is not even claiming to be accurate or close to the accurate. In fact the opposite. This post is more akin to a fan fiction, a fever dream, an onanistic fantasy... OK hear me out. I believe that what I'm about to say is relatively similar to what BCB has said. I haven't watched all his videos but it wouldn't surprise me if he's said something like this. If we look at the initial bull runs in XRP back in 2014-2015 we see this. It is helpful to look at these on the log chart because the prices are so tiny that it's di
    17 points
  14. The lede is buried a bit in the business wire article, but the big thing we learned is that PolySign has not just built digital asset custody (and world-class encryption and access provisioning to boot), but they have also built what sounds an awful lot like a P2P trade solution. Companies (or governments?) using PolySign will be able to trade or sell their digital assets to one another, settling directly via the custody solution’s built-in escrowing capability without having to go through an intermediary, OTC desk or exchange. But why would anyone want to do that? Aside from the eas
    17 points
  15. Fun to look back through the last month and remember what happened. Some highlight posts from the run. March 31st / $0.54 - Interesting move, believe it or not this is a bullish sign. This is clearing the sell stops here, smart money is buying in that area. This could signal a move upside now if we maintain this bounce. April 1st / $0.57 - @Molten - "Looking at the long term chart, this period of consolidation looks a lot like what happened prior to the 2017 mania. By my eye, if the weekly closes above $0.62, then this will go parabolic. As they say, "the larger the base, the high
    17 points
  16. Well written and compelling. And thanks to John Deaton for all of his hard work! https://www.crypto-law.us/wp-content/uploads/2021/04/Memorandum-of-Law-in-Support-of-Motion-to-Intervene.pdf
    17 points
  17. OK ... not really in 'crayon' ... but, why she has to repeat what she clearly stated before is beyond me ...
    16 points
  18. Today/last night is a harsh welcome to the people that have just recently joined in on crypto in the last few weeks/months @Mummabearinvestor (welcome to the club). Taking advantage of the low volume weekend to crash the price, trigger stop losses and gobble up your coins. Last night is the reason I always say that 1. you should never buy crypto on margin and 2. you should never use stop losses. This is exactly why so many people lose money in a bull crypto market. Am I concerned about this price drop? Not at all. I was actually more concerned about the hashrate drop until I found
    16 points
  19. Apologies for taking so long to get around to this. I modified my scripts, but for reasons I could not explain, my graphs just didn't look right. Last night I played some more and found the root of the problem - so I am now posting my latest findings, which are still not perfect, but look reasonably good. I'm getting sales volume data from Cryptocompare (CC from now on) using their "top tier" volume, which filters out some of the exchanges suspected to be inflating their volume. The data looks like this for the last few months. I plot the CC data alongside the bitstamp volume - just beca
    16 points
  20. jbjnr

    Guessing corrections

    I'd like to have a go at this ... 1) Ripple have signed deals with 300+ FIs/banks etc 2) Ripple have tested ODL with MGI for a year and ironed out any obvious problems. Clearly it wasn't a massive success, but this is stage #1 in the major experiment to rewire the finance industry, we expect it to take some time (8 years and counting!). They transferred several billion's worth of $$$ during the trial, which is something no other blockchain network has come even remotely close to (and most remarkably, until a few days ago, other networks that are not even live yet had higher valuatio
    16 points
  21. Well, have you ever seen the two of them in the same room? My theory is that this is indeed possible. And if so, we are going to want to be on the heels of our feet cuz if he pulled that off, then the next step is obvious... to promote XLM.... using XRP as a ploy to learn everthing about XLM would give him exactly what he needs to luminate stellularity.... So, you ask.... what are you talking about? Believe me, I am right there with you.... I think my point is that if these two people are the same person, would you really promote Doge coin? Actually, you might... let
    15 points
  22. A former Ripple employee revealed 8 clients that have integrated RippleNet between August 2018 and October 2020. https://www.xrparcade.com/news/former-ripple-employee-reveals-8-ripple-clients/
    15 points
  23. https://www.dropbox.com/s/kxzkvu64gnl8cn9/Discovery Dispute Letter Motion with Exhibits 4.16.2021.pdf?dl=0 "1. The SEC May Not Conduct Discovery Outside The Scope Of The Federal Rules OF Civil Procedure" "2. THe SEC Has Further Violated The Federal Rules By Refusing To Give Notice To Defendants And Produce Its Requests and Related Communications With Foreign Regulators." (Apparently judge hasn't ruled yet; looks very good for Ripple, however.)
    15 points
  24. can we go back to the 2017 bull run also....
    14 points
  25. Ocean is the support keeping the price from sinking 3 sails are an Elliot wave pattern the crows nest is forward looking price action, long term hold the purple line is capitulation. the knight is the reversal pattern, back when I was telling you all to fill your bags the bowsprit (front of boat) is the newer highs, higher support. the wrench is the new utility, code snippets, flare network airdrop the staff with the infinity sign is the usd and it's infinite supply the crown is the crowning of the price The owl is when the wise buy in, also see owl clue The sun is higher
    14 points
  26. Currency One, a leading company on the online currency exchange market in Poland, has joined RippleNet. https://www.xrparcade.com/news/ripple-strengthens-presence-in-poland/
    14 points
  27. “Ripple open to considering funding SpaceX to take a mission to Venus using escrow funds monthly release” ”Ripple execs puzzled by weird theory floating around cryptoverse” “NEWSFLASH: Crypto journalism just as good as ever!”
    14 points
  28. Some of you might be thinking of swapping your XRP for ETH right now. In my opinion this is a bad idea. In fact, I think it's a terrible idea. This is just my opinion and not advice on what you should do. I could be totally wrong. Maybe the judge will order Ripple to give the escrow to Vitalik for use of supporting the ETH ecosystem. Stranger things have happened. The main reason is this. I've marked the high and low of the range (ignoring the flash crash in early 2020 because it only appears on this chart). We are 90% off the ATH for this chart. That means we are LOW. Really,
    13 points
  29. https://spectator.org/crypto-regulations-congress/ ..."Clayton and Hinman have both done high-level work for Chinese firms. Both, for instance, were signatories to the filings with the SEC in the IPO for marketplace giant Alibaba. And in addition to China’s creation of a digital yuan, the nation has become a major player in the crypto marketplace, having focused on massively scaling up the nation’s ability to “mine” Bitcoin. Some theorize that China effectively controls the Bitcoin marketplace, with some two-thirds of the total global mining capacity. Beyond being threatened by large
    13 points
  30. I choose coins according to technical analysis. In 2011 I was sick of losing money trying to value buy. I went to investopedia trading games and looked at the top 10 biggest gainer accounts. 9 out of 10 profiles chose momentum as trading strategy. the 10th chose buy and hold. When I investigated the top account, to my shock he/she was trading constantly. I decided to throw everything I knew out the window and go by momentum technical analysis. Instead of searching for investments, I searched google for charts. But every time I saw a chart that fit the signals for a momentum investment,
    13 points
  31. It's long, some quotes that stood out to me. Emphasis mine: In January 2020, Bailard, a wealth and investment management firm, submitted its Code of Ethics for the SEC’s approval. The section that deals with the cryptocurrency asset class reads as follow: In light of the extremely complex nature of the legal analysis regarding cryptocurrencies to determine which ones are securities and which ones are not, Bailard has decided to allow investments in three cryptocurrencies – Bitcoin, Ethereum, and XRP – that are generally accepted to be currencies and not currently subject to regulatio
    13 points
  32. Well it is not a victory yet, the judge will decide. It is funny though how SEC claims Ripple has not much of a use case for XRP, and then goes on and request business info from companies all other the world that collab with Ripple
    13 points
  33. I was shocked to see the reference to Prosper, which was back in 2008 or so. For those who may not know, that case was the forerunner to years of legal warfare, again due to US regulatory agencies not being able to resist the urges of incumbents to attempt to crush innovations which might threaten their business models (or bottom lines) or allow the public access to asset classes which were new. Prosper was essentially "ebay for money" or a sort of "crowdfund-a-loan" operation which allowed "little guys" to come together to lend money. A borrower would post a loan request and an interest ra
    12 points
  34. I don't want the success of xrp to be in the hands of a capricious billionaire. I don't even like it being in the hands of ripple (to a large extent). Once Elon finds a new toy to play with he will start 'proving the liquidity' of Doge. Problem is that these are very sensitive to time. As you say, 'still'. That could easily change in a month or two. Also XRP holders got the FLR airdrop, which will also give us the YFLR airdrop. That is two airdrops in one of the most exciting new projects. I believe XRP has been a better hold than others you mention regardless of comparative
    12 points
  35. The two purple circles are tea cup patterns. Extremely bullish. The teal line is a downward trend that was eventually broken marking the end of the correction from 1.96 The dark blue square is a wedge pattern which shows a strong support at the green line. I you look back to the teacup patterns you'll see they are preceded by sharp impulses up to that green support level. the teal box is what I like to call a ship pattern. a ship pattern forms at the bottom of bear markets. My previous post about XRP going parabolic is circled in gold. You'll note I said in that post
    12 points
  36. This is awesome. It is clear they don't want to produce the documents because they probably say something like: "We have no idea whether BTC, ETH or XRP are securities, but we are gonna kinda say BTC and ETH are not securities because we are getting paid large amounts of money by groups invested in the success of those currencies."
    12 points
  37. I am not saying that histroy will repead itself but I just want to show how xrp moves when its in a bull run and after massive price surges like we had 2-3 weeks ago XRP always corrected more than 50% from the top till the nex move up below is an example of XRP`s move from april to june 2017 (charts are from livecoinwatch) end of march 2017 xrp moved from 0.01 to 0.06+ and corrected down to 0.03 (i think thats where we could be now) XRP then moved more or less sideways for about 3 to 4 weeks till the beginning of may 2017, then the next move up from about 0
    12 points
  38. Derivatives whether in the form of futures of options generally give the buyer the "right" to buy or sell bitcoin without actually going through the hassle of directly owning bitcoin The way bitcoin works is that the price swings can be so dramatic that derivatives actually exacerbate the price impact. If I'm entering a bull cycle, I may buy a future contract or a call option that gives me the flexibility to lock in the bitcoin price as of today in anticipation that it'll rise in price over the coming month. If I lock in a bitcoin price of say 50k on my future or call option and wh
    12 points
  39. At the 28min mark in this RealVision interview with Forte, we finally have confirmation that the project uses the ILP. It has been 757 days since the announcement, but who's counting? https://www.realvision.com/shows/the-interview-crypto/videos/blockchain-technology-and-building-equity-for-gamers You do have to sign up to watch, but it is free Here's the relevant snippet:
    12 points
  40. 0 - 24.00 History of setting up interledger and his passion for payments and background working with BTC 25.38 Target market - he sees the COIL project as an extension of the Interledger model - he is building the protocols for streaming money on Interledger. Anyone can set up on COIL protocols Settlement protocol system that settles at shorter time intervals - maybe twice a second. 32.30 Adoption - Had chicken and Egg problem 35.00 What to Expect from COIL? Integration of wallets on Interledger 37.00 SEC case - been very damaging causing uncertainty and loss
    12 points
  41. 12 points
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