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OzAlphaWolf

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  1. Like
    OzAlphaWolf reacted to Seoulite in XRP a Security?? Well just recent as 2019 the SEC directly agreed that it was not!!   
    SEC lawyer: Yes your honor, governments in other countries may say it's not a security, other branches of the US government may say it's not a security, when retail traders and institutions asked us we may have told them it wasn't a security, and we may have approved its use as a payment method as recently as two years ago, but we are here today to argue that XRP is a security. 
    Corrupt US judge: Makes sense. XRP is a shitcoin. Buy BTC. 
  2. Like
    OzAlphaWolf reacted to Seoulite in Ripple & SEC letter to Judge Torres 15 February   
    As the US slowly falls apart, its institutions becoming more politicised, more corrupt, and more dysfunctional. Being based in the US may in fact be a liability going forward. Ripple tried to say "Hey we are on Team USA!" forgetting that the American ruling class is not on Team USA. If Ripple were in Japan or even China the government would be behind them 100%. I think even if Ripple comes out of this case well they should consider moving the vast majority of their activity away from the sinking ship that is the American Empire.
  3. Like
    OzAlphaWolf got a reaction from Cesar1810 in Ripple files response..   
    They owned most of the sources and artificially controlled supply to manipulate the price.  So no, it's not a bad comparison. If anything, diamonds are worse.
    Edit: and before anyone tries to claim "but escrow", it was seen as a solution to the bigger fear of Ripple being able to dump untold billions. Ripple artificially controlling supply of their stack via 1b/mth release (most of which is re-escrowed) was to allay fears of value loss for holders. DeBeers actions were to deliberately create greater profit for themselves.
  4. Like
    OzAlphaWolf reacted to KarmaCoverage in Raoul Pal of Global Macro Investor discusses BTC, ETH and XRP   
    This guy sounds like me... dots and all
    However I guess I should come to terms with my being a BTC minimalist. I've thought it was over valued since it was $20. I see no fundamental economic value, because there is none.
    I'd like to address this "digital gold" bullshit SMH.
    Folks here should be accustomed to looking at how fiat pairs are represented.. A:B or B:A, with the second number being the denominator. 
    Since it's only a matter of perspective which you prefer as the denominator, you have to conclude that what all parties care about is the Ratio between A & B
    In Math Problem words the words "Digital Gold" are conveying 
    1. BTC will gain value relative to USD, even if USD stays the same value 
    2. USD will lose value relative to BTC, even if BTC stays the same value.
    If one only considers the nature of the difference in Supply and the management of each currency's Supply. Then this makes sense. We have seen trillions of USD printed in the last year, and zero BTC added to ultimate Supply.
    If one considers that angle of valuation to be just one, and potentially not the valuation method which will be the prevailing method longterm, then that's where one starts to consider other economic valuation methods.
    So, other than the ratio between A & B moving in your desired direction, "what can I do with this BTC"? The answer is... other than talk about it, nothing. 
    The only desirable thing you can do with a BTC is sell it to someone else for more fiat. So keeping ourselves honest, the driving force for BTC is a desire for more Fiat.
    I see the fate for BTC mirroring the value of millions of folks lost hope that they will regain their lost capital. I expect (I'm not saying when) one of the most significant single asset crashes ever, the likes of Lehman Brothers. I also believe there is a non-zero probability that is the trigger for another cascade of systemic level risk flowing out through the financial system. It will be a blood bath, fortunes will vanish, suicides will occur.
    Then there's XRP backed by the Utility Value of moving value around an interconnected network of financial institutions and Central Banks, that's rapidly growing.
    It's not a tough choice 
  5. Like
    OzAlphaWolf got a reaction from BillyOckham in Ripple files response..   
    They owned most of the sources and artificially controlled supply to manipulate the price.  So no, it's not a bad comparison. If anything, diamonds are worse.
    Edit: and before anyone tries to claim "but escrow", it was seen as a solution to the bigger fear of Ripple being able to dump untold billions. Ripple artificially controlling supply of their stack via 1b/mth release (most of which is re-escrowed) was to allay fears of value loss for holders. DeBeers actions were to deliberately create greater profit for themselves.
  6. Like
    OzAlphaWolf reacted to solid102 in Ripple files response..   
    If you ever worked in corporate you would be surprised how difficult it is to find a competent CEO that actually understands the company they are running.
  7. Haha
    OzAlphaWolf reacted to XRPage in Ripple files response..   
    The response is very weak. This is going to end sooo badly for Ripple... 
  8. Like
    OzAlphaWolf reacted to solid102 in Ripple files response..   
    It is only a desperate to you because it threatens the very foundation and narrative of your "decentralized" mining token but it raises a very strong question about transparency and if they are truly decentralized. Who are the top holders of BTC and ETH, Can you name them and can you disclose how much they each own in each token? Why does Satoshi remain anonymous while owning millions in BTC? What is the distribution of the tokens amongst the holders? 10 million BTC(47% of supply) have been sitting dormant since 2017 who owns them and why have they not moved? How come people keep punching holes in Vitaliks narrative about how much ETH he own over and over while he keeps rectifying?
     
    Compare that to Ripple and XRP I knew damn well from the day I invested how much Ripple, Chris, Brad, Jed and the rest owned so I was fully aware and was fully aware how much they sold and I know the position of the company, the executive and the strategy. Give me transparency any day than the shady hush world of BTC and ETH.
  9. Like
    OzAlphaWolf reacted to solid102 in Ripple files response..   
    What does it matter if it was mined or created? Satoshi and Vitalik took advantage of creating their network to enrich themselves big time before the masses can get in and when very very few people even understood cryptocurrency
  10. Like
    OzAlphaWolf reacted to Panopticon in Ripple files response..   
    XRP cannot be called premined because guess what...it has no mining involved!!!!!!
    Also as I recall Satoshi mined the 100% of BTC supply up to when it was 1.000.000 coins around, and Vitalik mined 72.000.000 before anyone else could mine ETH. That is around 100 Billions dollars worth right now. But it seems CL and BG have exclusivity in greed since according to Clay Davis and his friends XRP is a security and ETH is not so nevermind me 
  11. Like
    OzAlphaWolf reacted to BillyOckham in Ripple files response..   
    Can you see that:
    cannot be true?
     
    That the funds were their own personal funds and were not $600 million “out of the company”?  The implication that they were taking a scarce resource from a fledgling company and crippling it while enriching themselves is a long way from the truth.
     
    To be honest I think you are mixing up a lot of personal feelings in amongst the facts.  It’s fair enough to be personally offended and confronted by the sales (I am not) but you are often lately drawing wide brushes across the picture.
    For instance you claim that the judge can’t extract his personal feelings from the legal arguments.  I think that might be disputed somewhat by the entirety of the legal profession...  and with good cause in the vast majorit6 of cases.
     
    You’ve lately gone into hyperbole repeatedly about Brad and Chris.  Calling them sleazy amongst other slurs.  I think it would be better if you disconnected the personal feelings from the factual matters when discussing the SEC case but that is just my view.
     
     
  12. Like
    OzAlphaWolf reacted to Karl in Ripple files response..   
    Maybe you should look again at the distribution history, interests and people behind Bitcoin and Ethereum before drawing the wrong conclusions.
    No cryptographic token was ever created out of thin air (apart from Tether). There is valuable brain and computing resources in it.
    Anyway, I don't want to start another PoW vs PoS vs Consensus flamewar.
  13. Like
    OzAlphaWolf reacted to Trentsteel in Ripple files response..   
    Aye, but they had a virtual monopoly over the diamond business for nearly 100 years or so 
  14. Haha
    OzAlphaWolf reacted to xerxesramesepolybius in Two leading lawyers discuss SEC case and rip Ripples's arguments to shreds   
    https://unchainedpodcast.com/the-secs-lawsuit-against-ripple-and-2-execs-what-you-need-to-know/
    Stephen Palley, partner at Anderson Kill. and Gabriel Shapiro, partner at BSV Law, discuss the SEC’s lawsuit against Ripple and two executives, Chris Larsen and Bard Garlinghouse. In this episode, they explain:
    what was so “egregious” that the SEC went after two executives, Chris Larsen and Brad Garlinghouse, were charged 
    why their sales showed an information asymmetry, and why that matters
    why the complaint comes close to being a fraud case, but why the SEC didn’t charge them with fraud
    why the idea that XRP is a currency and therefore cannot be a security will likely not fly
    why it’s unlikely the case will go to the Supreme Court
    the SEC’s case for why XRP is a security, and Ripple’s role in it
    how even on a technical level, the XRP network is centralized
    how strong the SEC’s case is against Larsen and Garlinghouse
    Stephen’s and Gabriel’s predictions on how the lawsuit will play out
    how this will likely impact XRP investors
    whether or not Ripple could become an SEC-reporting company and XRP a security
    what happened with Ripple’s lead investor in its most recent fundraising round
    whether or not the SEC might go after exchanges or other players who made money off XRP or collaborated with Ripple around XRP trading
    what this means for Coinbase, in particular, because it’s going public later this year
    what Ripple’s defense, in its summarized Wells submission, was 
    how this case compares to some of the other big SEC/crypto securities cases, Kik/Kin and Telegram
    whether there might ever be a digital token that is determined to be a security for specific transactions but not others
    what the wider implications of the case are for the rest of the crypto industry 
  15. Like
    OzAlphaWolf reacted to jn_r in MIT Gary Gensler - Primary Markets, ICOs & Venture Capital, part 1 & 2   
    So he's mentioning that the first 4 years or so there is no usage of XRP because there was no xRapid or ODL. I don't agree with that. The first usage of the network was the DEX and XRP the native coin was used to protect the network and also to serve as bridge currency, same as xRapid and ODL, only this time it was on the DEX. 
  16. Like
    OzAlphaWolf reacted to Flintstone in Where's Hodor when we need him   
    Dedicating time and energy towards the crypto ‘community‘ is like pissing into the wind.
    There aren’t many bloggers out there who could put up with all the diatribe of emotional investors this space seems to attract. I’m surprised he lasted as long as he did.
  17. Like
    OzAlphaWolf reacted to KarmaCoverage in The SEC LAWSUIT IS WRONG   
    My guess is the too big to fail, money center banks (Citi, JPM & HSBC lobbyists) wanted to use regulation to buy themselves more time to catch up & preserve their legacy pools of profitability (correspondent banking).
    Never thought about this as terrorism, but I do look at this SEC case as critical to extending the US's geopolitical advantage fueled by the USD's status into the future. RippleNet & XRPL are good for America's future international monetary power. 
  18. Like
    OzAlphaWolf reacted to VanGogh in Kik settlement with the Sec relative to Ripple   
    This is true; however, given that they have made concessions and paid fines and have already been defined as a currency by two other US regulators and have made multiple attempts over many years to work with the SEC it seems hard for Ripple to "overreach" at this point. They changed the entire direction of their company and mission based on the prior concessions. 
  19. Like
    OzAlphaWolf reacted to KarmaCoverage in So, let's dig into DCEA that Brad mentioned in the twit   
    Derivatives on XRPL would be fantastic, but I'd rather see XRP as a currency in the US so we arnt the only ones left using the Standard system instead of Metric.
  20. Like
    OzAlphaWolf reacted to KarmaCoverage in Lawyer take on the lawsuit   
    Just my thinking about the circumstances. You have to ask, "who's business is being 'disrupted'?" the answer seems to point squarely at Correspondent Banking.
    Ok, so then you ask, "well, who has the biggest interest in Correspondent Banking?" Which would be SWIFT (a banking co-op) and the Too Big to Fail, Money Center banks of which JPM, CITI & HSBC combined dominate the Correspondent Banking market with 80% of global flows passing through the three banks.
    Alright cool, but then you have to wonder if they will try to defend themselves and their market position, well they have a legal obligation to shareholders to do so, but how? What resources might these players have to defend themselves with?
    The could try to join forces with the innovators, but obviously they have not pursued that path. They could try to compete and out out innovate the innovators, but obviously they have not pursued that path.
    I have written about how Industrial age companies/business models react to dyeing off and being replaced by Information age business models which almost always change the industry's network/graph and how resources flow through the industry.
    This leaves the Industrial age business model operators "the old guard" with very few options, and they typically lack the visionary ability of "the new guard". Not because they are dumb but because they often have spent their whole life/career focused on the minutia of how the Industrial age processes work/ed.
    So they flail, and begin to cash in political favors that have been collected over the decades. Taxi companies used Regulation against Uber, Hotels used regulation against, and AirBnB... and the banking industry used Regulation against P2P Lending, before joining them.
    So I'm simply guessing that the pattern repeats, and this time the Money Center banks  would have tried to use Regulation/SEC against the innovators/Ripple (they are not threatened by BTC/ETH) but like every other time/industry the regulatory attack ultimately fails, and just like with P2P lending "if you cant beat them join them". 
    Now these aren't stupid people, so they s/would have known "the gig is up" years ago, and IMHO viewed their lobbying efforts as only a delay tactic while they invested billions to catch up with the crypto exchanges & custody providers.
    Long story short, it just makes more sense than the SEC's actions/non-actions.
  21. Like
    OzAlphaWolf reacted to Skippy in Probability of XRP deemed security   
    where's the "I don't know nor do I have the tools to estimate such a thing"
  22. Like
    OzAlphaWolf reacted to PunishmentOfLuxury in Lawyer intends to file class action suit against S.E.C. on behalf of XRP holders   
    I heard somewhere, can't remember where, that the main aim of the SEC with this action is to provoke a class action against Ripple. Seems plausible because much ot the content of the SEC Complaint is inciting the crowd; no fraud is alleged, yet they go into great detail about BG and CL's personal sales of XRP - for what other reason than to make bagholders angry? And, just reading recent threads on this forum, they succeeded, with the emotional manipulation if not yet the class action.
  23. Like
    OzAlphaWolf reacted to Alluvial in Coinbase is under fire because of XRP🔥   
    When are regulators going to do something helpful for the crypto industry and investors, and create a workable framework for the crypto industry?  Instead, we have the SEC filing enforcement actions which don't help investors (in fact, they hurt investors, especially when the SEC waits YEARS to file the case knowing perfectly well what's been happening for a long time - its even running a node).  These enforcement actions also stifle new innovations in a big way.   
    And now, because of the SEC enforcement action, exchanges like Coinbase (and probably Kraken later) are being sued because they were selling "illegal securities - xrp."  Very frustrating.   
  24. Like
    OzAlphaWolf reacted to King34Maine in Ripple Statement   
    Yeah, a Court Decision would be best for the industry at-large. However, my gut tells me that Ripple wants to get this thing behind them as quickly as possible!! Maybe if this was 4 years ago they would've been more inclined to fight, but Ripple has been in limbo for the past 4 years with respects to offering their ODL solution to US companies, banks, and FIs. I think they would much rather opt for a quick and fair settlement. Tbh, it's my opinnion that had Ripple been offered a fair settlement from the SEC, this thing would've been over and done. It's my belief that SEC wanted to take this to trial. Also, behind closed doors, I can guarantee you that Ripple's investors are mounting pressure on them to settle this thing and move on about their business, particularly Tetragon who ponied up 200-million last year via a Series C round. They've coughed-up a pretty penny to get Ripple into the positioned that they are in. I'm 100% selfish here. I WANT A QUICK AND FAIR SETTLEMENT!! Sometimes it has to be every man, woman, boy, and girl for themselves. Hopefully, with a new administration and new leadership Ripple can bypass this for a quick settlement. 
  25. Like
    OzAlphaWolf reacted to Alluvial in Ripple Statement   
    Before jumping to all these conclusions that I keep reading on this site, we need to see Ripple's Answer, and perhaps more importantly Ripple's motion for summary judgment which will be filed somewhere down the line.  Things always look bad after hearing one side's allegations.  From what I have read, the SEC's entire case is premised on the conclusion that xrp is a security.  From what I can tell, xrp is not a security for a variety of reasons.  This issue will likely be decided by the court, not a jury, after Ripple (and perhaps the SEC) files its motion for summary judgment (a legal motion where the court can decide the legal issue - is xrp a security - if the factual issues are generally not in dispute).  The SEC in my opinion has reached too far in this case, and I think they will lose, but I don't know that much about SEC cases.  Ripple has some very bright experienced litigators on its side, and the SEC will have their hands full.   Although a settlement would be nice, I think and hope that Ripple has a decent chance of winning on a motion for summary judgment. 
    All the superfluous BS - for example, Ripple was told by its attorneys that xrp might be considered a security (its the attorney's job to advise clients of possible scenarios) - is totally irrelevant to the issue of whether xrp is a security.  The SEC should have focused on the factual issues surrounding whether xrp is a security under these circumstances, but they wanted to do maximum damage because Ripple BG and CL didn't agree to settle.  
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