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Everything posted by ed1

  1. If SEC thought XRP was used as part of unregulated securities offering, they would have already acted on it. They have the power and as we can see from this example, intent to do so on digital assets.
  2. I believe first 17 and 19 have to be merged. 17 is a class action lawsuit on the same subject matter. As to the actual trial, it may take a very long time to finish and I don't think Ripple has any hurry either. Keep in mind what the judge has suggested for case #17, that even if it turned out to be that Ripple's sales of xrp at the time were deemed securities, the actual claim for losses should be proportional to Ripple sales in the market/total market sales volume which ends up being a fraction of the amount asked. This by itself suggests that legal fees on this won't make any sense for
  3. Yes of course it can be set. You need to have an entity that has deep enough pockets and that is willing to act a moderator of value in open market. So if you are fantasizing about say 100$ per xrp, US government could do that hypothetically. It would be senseless from a speculators point of view to try and speculate against XRP in a scenario like this. However Ripple or BoA etc wouldn't have the money to back it up at these extreme levels.
  4. it dampens both sides because it creates a deeper market..but since there is no net buy pressure right now, i mentioned the sell pressure part.
  5. I believe ODL actually stabilizes the XRP price to a greater extent. Because order books are operating on both sides, it dampens the sell pressure, maybe not too much but so much so that among the top 5 cryptos XRP is the one with the least amount of losses in percentage terms today.
  6. sure glad, mr. tacostand gets to sell his fair share of the scam he helped create https://bithomp.com/explorer/rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv
  7. Miners will manipulate.. Well not so much manipulate per se but reduce supply to push price up. Current hash battle makes sense because if you increase the hash rate now, you can get more for your "work" (2x more) as opposed increasing after 69 days. To a great extent miners set the price by controlling supply. hashrate increased by 2.5x since June 2019, the supply will be cut by half in 69 days. We can look at an adjusted model for 5x the price we have seen in June 2019 for BTC after the halving..of course more would be needed if hashrate keeps growing. I am assuming 50K ish price for BT
  8. I think the result is not too bad for Ripple. The securities case is not dismissed but even in case the plaintiff can eventually win the case and claim a liability, the amount that the plaintiff can claim is severely restricted which would suggest a strong incentive to settle as far as the plaintiff is concerned. From the document: "Significantly, as plaintiff pointed out at oral arguments its 129,000 XRP unit purchase during 2018 Q1, when compared to defendants sale of 0.095 percent of the XRP traded on the market that quarter, supports the inference that plaintiff purchased approxi
  9. Doesn't Ripple simply manage Jed's sales?
  10. Ripple IPO will have to wait until there's clarification on the securities case. I assume we can get a dismissal ruling in the next few weeks, CA has a 90 day limit if I am not mistaken, so a decision can possibly come before April. In any case, if the case is not dismissed I suppose Ripple will probably settle and get this liability out of the way. Once the settlement is done, SEC can make a statement about the current situation of XRP and highlight that it is not a security. Ripple has already stopped XRP sales since September 2019 (only OTC deals to partners in developing markets, no market
  11. I wish I had bought BTC or Link back then. XRP is a total misery coin.
  12. Centralization is about where the decision making power lies in a given organization or network. An XRP pool that acts as a buffer against slippage in ODL is orthogonal to any arguments regarding centralization. XRPL is not ODL, it's good to remember this. L in XRPL stands for Ledger, L in ODL stands for Liquidity. XRPL is a decentralized ledger, ODL is a software/tool giving access to a proprietary network for liquidity.
  13. Not necessarily, it can happen immediately following the conversion. The receive side exchange has a pool of XRP that belongs to Ripple. The software automatically triggers conversion from XRP to local currency to top it up if the price has gone down in between and vice versa. The XRP pool stays on the exchange, I bet there's not much happening with that XRP pool to be honest. This may end up being an issue if the amount being transferred in a single batch is so large that even a slight fluctuation in price creates a big enough pressure to exhaust the XRP in the pool. Although, I don't r
  14. Two reasons to avoid this: 1) These are taxable events in certain jurisdictions. 2) KYC/AML checks are required. Tomorrow when XRP is trading at 20$ and you want to cash out a large sum, they may ask you; "Hey who the heck has been sending these zerps to your account?" etc etc..
  15. Not really.. "These XRP pools are basically "insurance policies" to ensure that the required amount of the target currency can be bought. Steiger assumes it could work like this: If the price of XRP goes down and the receiving exchange can buy less of the target currency than anticipated seconds earlier, Ripple "tops up" the missing XRP from the XRP pool. If the price of XRP goes up and the receiving exchange could buy more of the target currency, the excess XRP are added to the XRP pool. With that mechanism, ODL customers have zero volatility risk."
  16. A more remarkable one is this:
  17. BitMEX literally scammed XRP traders by manipulating XRP prices momentarily and confiscated their XRP. I am sure BitMEX is already selling/trading these XRP for BTC on the open market now. If you don't want to lose your money/coins etc, do NOT ever trade on BitMEX. It is one of the shadiest, sh*ttiest exchanges in this space. Take a look at what happened here: https://coingape.com/no-rollbacks-or-refunds-for-bitmexd-clients-exchange-says-after-xrp-58-flash-crash/
  18. Who is to pay for it though? That' the question. If Ripple pays then forget about the Ledger being decentralized and say hello to => security claim!
  19. Wonderful news. It sounds like there was a hidden settlement though. Could this be because of the IPO Ripple is planning? And if I'm not mistaken CA has a 90 day rule for responding to the motion to dismiss, so we should hopefully get clarity on the other case as well pretty soon.
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