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Showing content with the highest reputation since 07/17/2019 in all areas

  1. 39 points
    zerocool

    Bank of America's new patent

    Patent# US2019/0172059AI https://patents.google.com/patent/US20190172059A1/en?oq=US2019%2f0172059+AI "Real-time net settlement by distributed ledger system"
  2. 36 points
    Brad Garlinghouse at Bloomberg 22nd July 2019 Starts at 11:35 https://www.bloomberg.com/news/videos/2019-07-23/-bloomberg-technology-full-show-07-22-2019-video
  3. 24 points
    Hodor

    Deep Thoughts (Crypto Version)

    Blog URL: https://coil.com/p/Hodor/Deep-Thoughts-Crypto-Version-/kDaje9VNB CryptoEri interviews me! I also cover Brad Garlinghouse's recent response to Steven Mnuchin's press conference, and provide 'something extra' for Coil subscribers. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  4. 23 points
    Benchmark

    Bank of America's new patent

    Most people here are in extreme disbelief about everything. But it's quite obvious what's happening, XRP is becoming the standard.
  5. 21 points
    invest2lose

    I'm out.

    Never understood the point of these threads.
  6. 20 points
    Plikk

    I'm out.

    Bullish
  7. 20 points
  8. 20 points
    jag216

    Bank of America's new patent

    This patent is really fascinating, as it appears to allow both banks to maintain private sets of currency ledgers, perform the forex behind the scenes using their existing connections, effectively wash the transaction groups, send the distribution lists independently through electronic communication using a GAN, WAN or LAN, and then simultaneously transfer actual net value for the notices through a third party real-time net settlement tool - ILP, which can use a variety of trustless tokens to transfer value, but XRP is the fastest at the moment. From the patent: So the final outcome here, from my reading: No need for banks to own XRP legally - either having value in custody and/or trusting market makers No need to expose their internal transactions and books or wallets on the network This allows banks to effectively create their own digital wallets to account for digital currencies and treat them all as if they were internal accounts - Including security and custody, etc. What is interesting here, is they will probably use their own internal stablecoin currencies to do this. No need for regulatory clarity on this matter to start using it from day one, as the XRP utilized in transferring value across the ILP belongs to the protocol infrastructure, not the banks. The patent effectively internalizes the costs of exchange (but avoids xRapid) and then uses the messaging services of either xCurrent or some other secured communications rail (xCurrent, as I understand it, is NOT a blockchain product - it is a communications product) while simultaneously transferring the value packets (after both sides agree on KYC/AML compliance) via ILP. Which is going to raise some very interesting court cases in the future. When data is transferred across a digital network, who owns the packets that you send? Are you giving license to Comcast or Verizon to pass through your data? Does it belong to you the entire time? Does it belong to the intended recipient? This may not matter a lot while sending information, but with you are sending packets of net worth that are unique and dropped packets means dropped value - who owns that? Who owns the responsibility for transmitting packets of value across the ILP? This space is getting more fascinating and complicated by the week. It is true that they aren't necessarily going to implement this right away - but the question to me is - is ILP ready to scale to this magnitude? It seems that we are talking about a considerable number of packets to send on a continuous basis. How is packet value recycled in ILP? That's the part of this that I don't quite understand. Regular data moves and replicates and disappears and no one thinks about it again. Does ILP use the underlying currency and translate value into the expected digital ledger denominations on the fly? Do both parties simply need to say "Hey, I want to send you this currency and does ILP automatically say 'okay, we'll use this value for that currency in XRP and it will take this many packets and cost this much and based on network congestion it should take this many seconds, etc." Then what, when the net worth of the packets is converted is the XRP deallocated? There must be operating accounts that drive the ILP system Because to my mind - please, correct me if I am wrong - a cryptocurrency - in order to exist - must belong to a wallet. It is not like paper money that can belong to a NULL wallet - it is a zero-sum game. Yes it can get sent to a wallet allocation no one has access to and be stranded, but it is stranded precisely because there is no XRP (or any digital currency) that is unowned. Every XRP is owned by somebody, even if that is a careless somebody or dead somebody. And I believe other cryptocurrencies all work this way as well, right? Every coin is in a wallet. I've seen a lot of slide decks on ILP but this part really eludes me. My concern, I guess, and I don't mean this as FUD, maybe someone with more technical knowledge can clear this up... If the XRP that is required to loop through ILP to transmit value to upper layers represented on the stack, and this is an automated process, it seems to me that the market value gets determined by those who use the system and transmit value back and forth, but that XRP is locked in and the value that gets traded within that loop is outside of retail and other markets. Is that right? I don't want to necessarily raise the whole issue of "secret ledger" again, but I don't understand how "protocol-level" value exchange that happens when sending value through ILP can ever touch "retail-level" exchange markets. That doesn't mean that the ILP will not need more XRP as people discover how cheap it really is, and that the ILP's use of XRP will soon dwarf every over XRP use case if it becomes an international standard for exchanging value, but for the time being - if ILP really provides a viable way for banks to get around using RippleNet - well, I just don't know what that means in terms of retail exchange value of the coin - it makes valuation a whole lot more complicated than what I had ever considered. ILP's use case of XRP seems like it is in an entirely different universe as compared to the speculative or store of value use case people are familiar with now. I feel like I'm trying to price watts of electricity for running an entire city based on the cost of lighting a few lightbulbs at a workbench with magnets and wire.
  9. 19 points
    Yes, for a long while they have been playing it close to their chest and they don't give much away, yet if Brad makes even a generalised comment he is afterwards constantly criticised for blabbing. The only metrics we really have are the growing army of employees in a growing network of offices around the world. All those new staff in places like India and Brazil are needed to do jobs that were not there before. Also it is noticeable that the big names they have attracted do not up sticks and leave after 18 months, (except for Cory Johnson who was not really much of an expert at anything other than being a familiar TV face).
  10. 17 points
    YoYo is the next Ripple Psychic that SamIAm has chosen to believe. First it was BearableGuy, then “the BGs” (because all the copycats must be working together), then it was the Ripple Riddler, then “the Riddlers”. Now it’s YoYo. Next it will be “the YoYos.” There is no end to it. None of them are real. It’s Q-Anon for crypto Twitter. And yet he also doesn’t “believe in” human contributions to global warming... and is shuffling that propaganda campaign to his audience. It’s a little disgusting. That said, he shares interesting news articles sometimes. Thanks for sharing.
  11. 16 points
    Eric123

    Epic Pennant on BTC Chart

    BAKKT testing begins today. For those of you that haven't been following it - BAKKT is the "physically" settled futures created by the Intercontinental Exchange, the parent company of the New York Stock Exchange. https://www.ccn.com/news/bakkts-moonshot-bitcoin-platform-begin-testing-today/2019/07/22/ Great news that this is finally happening. Hopefully testing goes well. The big boys are starting to dip their toes in the crypto pool. Looking at the chart on Bitcoin I'm gonna guess we we won't see sub $10k prices again. I could be wrong but I'm pretty sure. On to XRP - Looking at the $/XRP chart it's hard to believe that we are not at or near the bottom. However XRP like most realize is not a chart play, it's a Growth Play. If you believe in the Team at Ripple, you believe in the tech and you see the utility in XRP you shouldn't panic too much when the price falls, if they deliver on their promises price appreciation come. As for myself - I bought more XRP today. Other alts you might want to consider which are not chart plays but similar to XRP in that you have to believe in the Team and the Tech are OMG and NEO. If OMG can deliver on Plasma and NEO can deliver on NEO 3.0 - holders should be rewarded handsomely - I hold both. Do your research - they are longshots, so gamble accordingly. @XRPboi - I think November 2019 is when the Bull market begins for bitcoin and I suspect we will get a multiple of the enthusiasm the crypto space received in 2017. And I'm expecting the bull market to continue into 2021. @RussianStandards my comment about the 100, 200 and 300 Day EMA's was just to illustrate how little the price of XRP has moved. We are basically flat-lined, which is best illustrated on the long term chart. Historically that is a good time to buy. IMO in 2021 people will be talking about people that bought XRP at .30 like they now talk about people that bought bitcoin at $100. Things are looking good.
  12. 16 points
    musclehog

    I'm out.

    To be honest you should have just stayed off xrpchat. This place is pretty toxic. You cannot speculate without the word hopium being thrown around. Everyone is on a tight trigger. There is some serious issues on here with new accounts and FUD. If you are out, then you are out. I respect your decision to sell. The reason why I am not. I feel like i am lucky. I am lucky I stumbled on this company and its asset. Bank of america, moneygram, amex, SBI, Bank of england, HSBC, transfergo, ECB, IMF, westpac, SABB, white house meetings, mercury FX, earthport, all the heavy hitters now working for ripple like betsy waters who was the head of hsbc transactional fx payments at hsbc. Legarde now head of the ecb, and she is the most pro xrp person outside of ripple. I just cannot ignore this stuff. You witnessed the foundations of the new financial systems being built. bi directional instant settlement payments with massive scaleability but the .32c seems to just get so many people frustrated. To me swift GPI is like the ipod where as XRP is Spotify and I am willing to wait to see how this plays out. I have written off my investment. Its my swing for the fences. If I lose, so be it. psychologically I am willing to accept that. If XRP is worth X amount in the green in 2025 or 2028 and I sold in 2019 because BTC was moving up and I was sick of xrp sitting at .32c I would be kicking myself. I think we will see a $10 xrp sooner than people think. BTC is going to run into trouble. Chinese mining pools, scaleability and fees.........and the environment. Thats my .32c. Im not trying to convince you not to sell. You do you. This is a very long term hold for me and I eat volatility for breakfast. It just doesn't frustrate me as it does other people. Neither does the .32c usd.
  13. 16 points
    Your time is over. The time of men is rising. Shadowy figures of the abyssal fud will fade into the darkness from whence they spawned.
  14. 15 points
  15. 15 points
    Eric123

    Epic Pennant on BTC Chart

    Ok so Bitcoin's price went from: $5k up to $9k $9k down to $7.5k $7.5k up to $14k $14k down to $9k These moves took 2 weeks at the most. Anyone notice a pattern If this keeps up we are at around $17k in less than two weeks. It will look something like this.
  16. 14 points
    BeSeriousXRP

    I'm out.

    I bought my 50K XRP in May 2017 at $0.322 After waiting for more than two years I sold at the same price today. This XRP is going nowhere as long as no banks are going to use it, Ripple and Jed keep dumping and no other real usecases exists. Traded for BTC today.
  17. 14 points
    By and large I don't pay much attention to the XRP chart, the main reason being that it tells very little. All of XRP moves, in it's short history, have seemingly come out of nowhere and have been based on News or outside factors, rather than technical levels. The main driver of the last big moves in 2017 being the announcement and completion of the escrow and the parabolic move in Bitcoin which dragged all cryptos up - then down. So basically the price of XRP went from flat to flying in a matter of days. Do I think XRP's price movements will play out as it has in the past? Yeah Absolutely. Honestly, .40, .30 .20 or .50. those prices really don't make a ton of difference to me. I don't feel better with the XRP price at .42 than I do at .32. - (Obviously it's different if you are trading) - But I'm waiting on a big move - not 20%, 50% 100%. I'm waiting on the 10x, 50x, 100x. I know there is a lot of discouragement in the XRP community right now but IMHO the last/current down move was/is a buying opportunity. Anyway the chart is really not doing a whole lot. Regarding the Daily EMA's the 100, 200 and 300 are threatening to all become one line. Can the price go on like this? Maybe but I'm betting (and with quite a bit of $$) that it won't. I bought every day this week. Keep your heads up.
  18. 12 points
    Ryan Zagone is Director of Regulatory Relations at Ripple; As per Clyde Vanel, NYS Assemblyman and Chair of the Subcommittee on Internet and New Technologies: New York State Digital Currency Taskforce: Body consists of 13 members: 6 appointed by the Assembly and the Senate Joseph Lubin - co-founder Ethereum Project, founder ConsenSys Sandra Ro - CEO Global Blockchain Business Council Yaya Funusie - Chief Strategist Cryptocurrency AML Strategies LLC, Fellow at the Center on Economic and Financial Power (Foundation for Defense of Democracies) Yorke Rhodes - Co-founder Blockchain at Microsoft, Principal Program manager of Blockchain Engineering at Microsoft Azure Ryan Zagone - ! Aaron Wright - Co-founder OpenLaw, Law professor at Cardozo Law 7 appointed by Governor NYS first state to create digital currency / cryptocurrency taskforce to determine how to properly regulate for digital currency and blockchain technology
  19. 12 points
    Blog URL: https://coil.com/p/Hodor/XRP-Update-Real-Business-vs-Speculation/SIaCLtS6Q If you follow XRP, you'll want to read about the latest major developments, including the formation of a new nonprofit foundation! 𝐑𝐢𝐩𝐩𝐥𝐞 𝐍𝐞𝐰𝐬: CNBC interviews Brad Garlinghouse about Libra and blockchain regulation; The next SWELL conference is starting to become more well-defined; and Boubyan Bank becomes a member of RippleNet; 𝐂𝐨𝐢𝐥 𝐍𝐞𝐰𝐬: Coil pays out its second installment of the Coil Boosting Pilot program; The Puma Browser publishes a new version of its browser for iOS with Coil support; and DWeb publishes a short biography of Stefan Thomas. 𝐗𝐑𝐏 𝐍𝐞𝐰𝐬: Wietse Wind announces the new XRP Community Fund Foundation; Wietse Wind publishes a tool for encoding and decoding the new (optional) X-formatted XRP address; Rome Reginelli proposes the new TOML File specification; @DevNullProd shares its NYC XRP Meetup pics; Bitrue celebrates its one-year anniversary by scheduling an AMA with Curis Wang; Bitrue has decided to run its own XRP Validator; and Coingate offers cash-back for those using XRP for purchases. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  20. 12 points
    mrhat75

    I'm out.

    What has that done? I didn't realize banks started using it
  21. 12 points
    Boubyan sign Preliminary agreement With Ripple.Net International for immediate conversion services to different parts of the world Al: we strive to keep abreast of developments that will provide the highest levels of service to our customers Signed a preliminary agreement with boubyan ripple NET Ripple.Net (leading global transfers across the world) to provide higher levels of technical services relating to financial transfers to ensure more speed in the highest levels of security and integrity of the information and data Cherish boubyan Bank in providing its services and products to customers. Executive Vice President, said Saba "always strive to deliver distinctive levels of service for our clients and ensuring access to high quality products and services that make their lives easier and more comfortable." From this point he signed the agreement with one of the largest known worldwide for instant transfers and even give customers more opportunities to get remittances services ensures them fast and easy. ITC indicated that Bubiyan clients currently receiving special services when making remittances anywhere in the world through numerous agreements with international companies are known but that does not prevent other companies from looking for new technology to give clients many options.
  22. 11 points
    Pablo

    Crypthawk Exposed

    Given the increasing evidence that TheCryptHawk is actually the alleged scammer and ponzi operator John Robin, this thread is locked. Please be careful with supposed "insider" information. If the "insider" just so happens to provide paid services and/or bot trading and/or guaranteed % investments, you should treat them as a bandit until proven innocent. Caveat Emptor
  23. 11 points
    Some good news... https://finance.yahoo.com/news/moneygrams-deal-south-korea-sentbe-140334241.html Tanzeel Akhtar Benzinga July 19, 2019 "MoneyGram (NASDAQ: MGI) shares are trading higher after the company said it signed a partnership with Sentbe." "Sentbe is a money transfer startup in South Korea. The partnership will make it the first MoneyGram virtual agent in the region."
  24. 11 points
    automatic

    Epic Pennant on BTC Chart

    Yes, but the behavioral undercurrent will vary based on how individual cryptos were set up. The fact that drew me to BTC back in the day was its fixed supply. Fixed supply + increasing demand = exponential price increase in the long term. Add hodlers to the mix = reduced circulating supply = compounded exponential price increase in the long term. Now take something like BNB, for which both of the above hold true, but then insert quarterly token burn: further compounded exponential price increase in the long term. These cryptos are inherently deflationary and thus excellent for hodling. Now take xrp - it has a fixed supply, it has hodlers, it will presumably have significant real-world utility, it has inherent token burn.... and it also has 1/2 of its supply locked up by Ripple who will gradually release it to the market over the next 15 years. This is the exact factor that is going to be exerting constant downward pressure on the xrp price for some time to come. Yes, there will be periods where hodling+fomo+utility demand greatly exceed the selling pressure and cause the price to moon, but as soon as the dust settles the price will drift back down due to constant and ongoing selling pressure. IMO - this alone is the reason that xrp behaves like it does (dead in the water... until it isn't), and that exact inflationary behavior will continue until all xrp have been released to the market. In other words: 15 more years of bipolar brain damage. On a brighter note, this also means that xrp will continue to be very well suited for swing trading for the next 15 years. Sell the runs into one of the cryptos that are already deflationary, and then buy back in once xrp tanks because it *will* pull back. Rinse and repeat, and enjoy ungodly gains.
  25. 10 points
    Ripple deliberately leaked the BofA patent application. And Brad did his fake laugh, when the interviewer broached the subject. Just like when they waste money on charity or add new (needless) offices and overhead all over the globe, Ripple needs to keep up the appearance of an expanding network so that the company and its principals can continue to sell their XRP for 30-40¢. I'm just trying to help the doubters continue to see negative developments and motives, exclusively. There's always a cloud to accompany the annoying silver lining, if one is willing to look hard enough for it. Note to Self & @Ripple-Stiltskin: Certain jokes and attempts at sarcasm should be avoided on XRP Chat, until XRP > $1.
  26. 10 points
    The Readme file (updated last month, june 14th) is very interesting. It mentions project Ubin. https://github.com/corda/corda-settler/blob/master/README.md XRPs and SWIFTs testnets are the only ones mentioned.
  27. 10 points
    1. How do you feel about Ripple holding such wast quantity of XRP? - sexually aroused.
  28. 10 points
    True XRP Community knows what this really means. Published by a reputable news outlet, not some **** nonsense. Enough said. https://www.reuters.com/article/japan-cryptocurrency-idUSL4N24I1CU
  29. 10 points
    Burning XRP to make the price go up sounds like an idea from an investor in XRP. Ripple is not aiming to just get the price up, but grow total liquidity. If all succeeds they may need the 100bln XRP. What I do see happening is that eventually Ripple could release custody of the escrow to a sort of Central Bank type or other IMF like institute so they can control the release in the future on a macro economic scale. It might even be a complete new type of institute responsible for doing that as long as it's not Ripple anymore to avoid a conflict of interest.
  30. 9 points
    LOL @ weakening fud comments... I hear air leaking out of the fudster's tires... I even hear them trading their BTC dust into 4 XRP.... LOL @ them!
  31. 9 points
    Ripple-Stiltskin

    I'm out.

    Just for the record: I bought my 285,000 XRP at $ 3.50 in January 2018, thinking I would surely be a millionnaire within days. I’m still waiting.
  32. 9 points
    Not sure if this has been covered already in a previous blog entry. However, I just noticed that Ripple has made some additional changes to its BoD and has created a "Strategic Advisory Board." One of the two strategic advisors listed, Zoe Cruz, had previously joined Ripple's BoD back in late 2017. However, it appears she now serves as a Strategic Advisor to Ripple along with Anthony Lim, the former Managing Director and President (Americas) at Singapore’s Sovereign Wealth Fund, GIC Private Ltd. Wonder who will replace her on the BoD?
  33. 9 points
    To be honest Ripple to me is A shady american company, im not american, i dont idealise corporations. By default you shouldn't trust anyone, xrpl is trust-less system same as bitcoin. Who says that ripple doesn't try to dump 1bil a month and the only reason they dont spend whole 1 bil a month is that they basically cant sell it all, not much demand.... If that is what you trying to get at. So no difference to me at all. Ripple has problems with attracting developers, bitcoin doesn't have much of that issue.... Even tho bitcoin has "shady Chinese behind it".... What do you think reason for this is? In my opinion its how much ripple as a company is invested in. If you work on xrpl you must feel a bit like working for corporation in some sense. And dont rehearse that ripple and xrpl are separate , i know that no need to reiterate, im talking about how much you as developer that would not be funded, would indirectly fund ripple. First mover advantage excuse can be used only to a point......
  34. 9 points
    Great find thanks. The CV of the Ripple team members is always very impressive. This company certainly knows how to hire the cream. Now where are the Negative Nancy's and Debbie Downers saying " yes that's great for Ripple the company, but what about XRP boo hoo cry cry " c'mon you lot , I'm ready for you , lets rock and roll.
  35. 9 points
    So either this platform uses Ripple... Or every major Ripple partner decided overnight to join a new platform, and NO non-Ripple partners decided to do so. One of those hypotheses tests credulity.
  36. 8 points
    The patent also mentions "Option to eliminate need for physical accounts at partner institutions" which means no need for nostro/vostro accounts at other banks. Which in itself would mean a way to settle using XRPL, hence Xrapid.
  37. 8 points
    Eric123

    Epic Pennant on BTC Chart

    Well we broke $10k, not that that is pivotal or anything but I did say yesterday that it wouldn't happen and this dip is making me look bad. The good news is we haven't had 4 down days in a row since this past February so we're likely to see some green sometime soon. Anyway, bought more XRP today.
  38. 8 points
    automatic

    Epic Pennant on BTC Chart

    And here is our daily technical analysis of xrp/btc pair:
  39. 8 points
    Great article, but recycled old news. SwiftGPI mentioned at it's release that it could speed up transactions varying from mere seconds to multiple hours. This example shows the seconds. Now some examples of a full working day please. Also, it's a transaction. Not a settlement... that will take multiple days afterwards. Still great they woke up after 40 years of leaning back and started working on upgrading their messaging technology. Shows Ripple is actually tackling the sore parts of the monetary system.
  40. 8 points
    They have owned it since the beginning, everyone here bought xrp knowing that. It’s a none topic imo.
  41. 8 points
    CryptoBoiler

    I'm out.

    Can’t blame you. At the end of the day, this is an investment. I feel that so many people here are emotional and forget that money is money. If you purchased 50k in xrp, that’s $15,000. To most, that’s big money. Some folks could have 20,000 in at .32 cents and ride all the way down to .05 cents and still be happy. Good for them. I personally cashed out my initial investment a long time ago (in the $1.50 range), and decided to just leave the rest in. Point is, you did the right thing. And the guy that bought 50k xrp the same day as you and won’t even think of selling did the right thing. At the end of the day it’s about returns. Not about showing your loyalty to a company. Investment 101. good luck in your future investments.
  42. 8 points
    Ripple-Stiltskin

    I'm out.

    But ......but..... CryptHawk says.....
  43. 8 points
  44. 8 points
    princesultan

    Crypthawk Exposed

    The guy was as close as it gets on the MoneyGram thing and he repeated it many many times. I will give him benefit of the doubt on this one. The sad part is that even if this was true (and possibly the biggest crypto news to date), xrp would go up 5 cents the first hour and then back down again. Nothing moves this coin.
  45. 8 points
    It's amazing how fanboys here always find a way of turning a negative into a positive
  46. 8 points
    It's remarkable to see how different noses detect different smells.
  47. 8 points
    I've already concluded those payment systems will be enhanced by a settlement system offered by a company called Ripple.
  48. 8 points
    I couldn't resist contacting FCA and this is what they replied to me today: Thank you for contacting the Financial Conduct Authority (FCA). I understand that you've contacted us in relation to finding out if Ripple XRP is a security. I can confirm that Ripple XRP isn't a security. Cryptocurrencies are very high risk investments and not all fall within our regulation. Transactions that speculate using cryptocurrencies such as contracts for differences (CFD’s) may be a regulated activity, providing the firm offering the activity is authorised by us. We've published several articles including European warning on virtual currencies and consumer warning about the risks investing in cryptocurrency CFDs - which you find helpful to read. Please also be aware that the buying and selling of cryptocurrencies isn’t regulated by us. I hope this information has been of use to you. Yours sincerely, Scott Marshall (Mr) Associate / Consumer Helpline / Tel: 0800 111 6768 Edit: FCA's press release published earlier this year shows the FCA and the SEC have signed updated supervisory cooperation arrangements: https://www.fca.org.uk/news/press-releases/uk-financial-conduct-authority-and-us-securities-and-exchange-commission-sign-updated-supervisory Yes, I've also contacted SEC and asked them about their take on FCA's answer to me. Hopefully they'll respond. Edit: SEC's diplomatic answer (for what it's worth): Thank you for contacting the U.S. Securities and Exchange Commission (SEC). We appreciate the opportunity to review your concerns about Ripple (XRP) cryptocurrency. The SEC’s Office of Investor Education and Advocacy processes many comments from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some of the correspondence we receive is referred to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you. As you may know, the SEC has not issued a determination on whether the cryptocurrency XRP is a security. Whether a cryptocurrency is considered a security will depend on the characteristics and use of the cryptocurrency. For additional information, see Chairman Jay Clayton's statement regarding cryptocurrencies and initial coin offerings at https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11. Again, thank you for contacting the SEC. Sincerely, Lisa Skrzycki Attorney Office of Investor Education and Advocacy U.S. Securities and Exchange Commission (800) 732-0330 Given FCA's statement that XRP is not a security and the fact that the FCA and SEC have signed updated supervisory cooperation arrangements (https://tinyurl.com/yxcw7kf3), I believe it's very unlikely that the SEC will ever view XRP as a security.
  49. 8 points
    iLeeT

    Xpring invested projects

    This one in particular рissed me off: Basically, developers with a proven track record and knowledge of XRPL (creators of Toast Wallet) proposed to develop XRP payments mechanism to enable more people to actually use the damn thing and the response from Ripple was - eh mate, you won't be profitable for us, let us invest in some random companies that don't give two fuсks about XRP and XRPL but they would be good for our Ripple shares down the road. Meanwhile we'll 'distributing' XRP based on an inflated wash trading volume, but you keep buying it as Euro Exim bank and SBI will launch soon. Sorry, end of rant.
  50. 8 points
    This is the kind of question that goes over the head of most XRP hodlrs and in fact, most people. It's a very complicated question and a really thorough answer would take more time than I'm prepared to spend here. But here goes..... Who or what exactly is threatened by Libra or any crypto? It isn't the US dollar itself so much ( that is just a medium of exchange). It isn't US citizens or citizens of other countries, It's really the banking cartel that runs the credit system for the entire world that is threatened...and yes... the answer is Y-E-S in capital letters. Crypto threatens banks.....and also the legislative bodies that spend tax money.....in every country in the world. Fiat money, as it now exists, creates as many or more problems than it solves. It has resulted in this horrible positive feedback loop we have with money. Banks create dollars (and Euros, and pretty much all fiat currencies) from thin air by loaning money into existence....and they depend on their partners in government to make sure that BANKS ALONE have that power of the CREDIT purse. The governments....they get something back for letting the bankers create unlimited fiat money. They get carte blanche to spend money they don't have...to run endless deficits like they don't even matter. It's an unholy alliance with almost unlimited power in this world. XRP definitely COULD threaten that.....which is why we have the likes of Brad Garlinghouse and Ripple sucking up to both banks and governments to try to get them to allow XRP to exist, so that it can even be used in the most benign way, the most beneficial way for the banks themselves, so that they will buy into it. But banks are still afraid of crypto. And they should be. How does the existing fiat money not crash under unlimited money printing and unlimited government spending? Well, sometimes it does......but the world's reserve currency has NEVER crashed (you can fact check that one), and the dollar won't crash either, as long as inflation exists to act as a hidden tax. Governments borrow and then pay back with cheaper dollars...That's the tax for allowing you to have your own personal money. Most people know that inflation takes their buying power away over time, but they don't realize it's engineered into the system on purpose to rip them off. These days, the amount of notional wealth in dollars (or any fiat) terms greatly exceeds the underlying value of the assets that collateralize them. That creates real instability. And inflation, which is predicated on economies that grow (theoretically) year-over-year into perpetuity, is in trouble, as more and more money pumped into the credit system as "investment" gives less and less bang for the buck as growth stalls. Growth is finite. This is the real threat to the USD, not cryptos..... But cryptos represent a way for peer to peer exchange without the involvement of government.... Limited inflation. Even no inflation if you want it. And crypto banks, like NEXO and Celsius and others, can even serve as an alternative to bank credit. Frankly, I'm surprised it's gotten this far...but as long as it was just some fringe characters and drug dealers and money launderers, it was not given any credence.....but with Libra, the powers that be are suddenly getting their wake-up call....and that call is from their international banking cartel partners who are suddenly waking up themselves and having an intense WTF moment. There is a lot at stake for the banks, which have now effectively become dinosaurs looking at their own extinction. And the governments will do whatever they're told. Most (almost all) your elected representatives in Washington, London, The Hague......are as ignorant about how money works as most lay people. We've seen (in 2008 and since) that banks always get what they want. When times are bad for banks, taxpayers (like us) subsidize their losses. So upstart money (crypto) is bound to get regulated out of business or criminalized....unless banks own it and profit from it. Or banks all go defunct and their awesome power is no more. It's pretty much that simple, when it comes down to it. There is no way for fiat (as it exists now) and banks( as they exist now) to peacefully co-exist with Bitcoin or XRP or any other crypto that provides a decentralized medium of exchange that is not in control of both central banks and governments. It's unclear how this works out. Crypto can be criminalized but it can't be completely stopped. It can maybe be co-opted. I think the delay in coming up with regulatory guidance in the US is a deliberate stalling tactic forced by powerful elites in order to buy some time. The banks want to co-opt crypto and they see Ripple as an ally. Bitcoin whales and rich miners and foreign unregulated crypto exchanges are definitely NOT the allies of the banks.
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