Jump to content

equinox

Member
  • Posts

    2
  • Joined

  • Last visited

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

equinox's Achievements

  1. After this SEC complaint, I was keen to understand how other people felt and planned to do with their XRP holdings (Sell, hodl or buy more). I understand everyone will be different. A few thoughts from myself, I have always believed in Ripple and XRP and thought the leadership team was experienced, credible and was going to do great things in this space. I even wrote about my stance and bullishness towards Ripple and XRP back in January (When there was speculation of an IPO). None of this sentiment has changed, although I do think this SEC complaint does raise a few concerns and Ripple haven't been as transparent as I once believed. Regarding the SEC ruling, I do believe this is partly a stab in the back from the SEC after Ripple has actively tried to work with regulators since day 1, it may also be a personal attack by Jay Clayton in his last few days of power. From reading the SEC case, there are a few things that stand out and I am disappointed in Chris Larsen and Brad Garlinghouse taking a reported $600million each personally via XRP sales. I understand people are in this to make a profit and each person's wealth threshold and goals are different, however this does seem excessive and at XRP holders expense. I find it suspicious that in the document there are claims that Ripple manipulated the market price. Ripple also sold their stake in Moneygram prior to this so I believe they knew what was coming. While we always knew regulations were a blocking point I do believe the above points are valid from the SEC and a little suspect from Ripple. Ripple have to win in court and get a good outcome for XRP otherwise in my opinion XRP will suffer more and have to find another avenue to survive within the US. How do you believe this will play out in court? I am hoping this will get dropped by the next administration or it will play out until 2022/2023. Ripple have stated they will continue to use XRP, the XRP Ledger is interopable which means they can use a different digital asset or just create another. I doubt many retail investors would participate or trust Ripple ever again if that was to happen, however Ripple have made money from XRP and the easiest way forward would be to create a new asset. Even though Ripple and XRP are separate entities, it is the reputation of XRP and the price that is taking the beating, which unfortunately affects all XRP holders and the profit we could potentially make. I would argue it is hard enough with other community members spreading FUD about XRP prior to this, now it's more fuel for them (And maybe some truths) which have been revealed by the SEC, all of which are the consequences of the Ripple leadership team's understanding and actions. I hope this does not come across as FUD. I am trying to be pragmatic, understand further and make an informed decision on the best way forward, which I am sure you all are too. I hope you all have a nice Christmas
  2. I understand this concern. The IPO initially worried me too, and no one knows how this will play out for XRP holders. A few things to consider in my opinion are. Ripple own the majority of XRP, therefore they have a clear interest in the future price, which would also help with the initial IPO evaluation and future stock value (40,000,000,000 XRP deemed as a company asset) Ripple are expanding into more corridors utilising XRP Ripple have met with the IMF and BIS on multiple occasions and demo'd RippleNet and the XRP digital asset Ripple working with SBI and pushing for adoption with digital assets, specifically XRP (Old article, but valid source) https://ripple.com/insights/sbi-holdings-views-on-blockchain-and-xrp-an-interview-with-yoshitaka-kitao/ $50million investment into MoneyGram to help kickstart XRP utilisation. With great feedback from the CEO, Alex Holmes stating transactions are now settled within seconds utilising XRP Money spent lobbying the White House staff on the importance of digital assets, attempting to bring attention and demonstrate their utility, as well as clarify any confusion or concerns Xpring - An initiative by Ripple to grow the XRP ecosystem by investing and providing grants to companies that utilise the XRP asset and XRP ledger Working with third party entities, i.e. SEC and Faster Payments Task Force to understand what they expect, and how Ripple can comply with any regulations or framework policies they are trying to create Opening an office in Washington DC with a dedicated regulatory team, with the intension of being close to the US Government and White House Working with Coinbase to drive cryptocurrency adoption Trust and reputational damage If Ripple decided to drop XRP then the work outlined above would be all for nothing. Most importantly they would damage their reputation, promoting a digital asset to the SEC, IMF, BIS, SBI Holdings, hosting Swell events etc and then stating "We no longer want to go down that route, we wish to utilise another digital asset or no digital assets at all and remain with xCurrent" would damage their reputation and question their credibility. It may also require modifications to the RippleNet implementation in order to remove any trace of XRP within the codebase (I am assuming this has been architectured in a loosely coupled manner where an asset would be interchangeable), however any amendments would include redeployment of software to existing clients infrastructure (Banks and exchanges) and full end to end testing to deal with a new digital asset, ensuring it works in the correct manner, as well as performing regression testing to ensure the software works as expected without XRP. This incurs additional business cost and introduces risk, if it went wrong it would make them look rather foolish. It would also be terrible for the community if they dropped the XRP token, not to mention the amount of people who will believe they have been misled with Ripple's website stating where to buy the asset. https://ripple.com/?s=xrp If they decided to go with another asset, who would even buy into it? Their reputation would be tarnished, no one would trust them and people would potentially try and raise a lawsuit against them, setting them back further within the digital asset space. Overall, the Ripple IPO will most likely make a lot of the Ripple shareholders wealthy, this is just how business works. It is their duty to look after the shareholders who initially took a chance on them and provided investment, why shouldn't they be rewarded? To answer the question "Do they give a damn". I would argue yes, from the points I mention above. Unfortunately they cannot just green light digital assets as it is outside of their control, Ripple have to be patient with regulations and work with the right people to ensure they understand the benefits of this technology and align with the policies that will be outlaid in the future. If anything comes of this is what we are all speculating on. Overall the technology works, is efficient, secure, stable, scalable, provides a use case and helps solve real world problems with liquidity and cross border payments. Regulations are key to drive this forward and we must be patient.
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.