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jetbrzzz

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  1. This was exactly the reason I pulled my XRP off Coinbase before the airdrop and set up the distro keys myself. No one knew that $SGB was going to be a thing, probably not even FN until this summer, as is evidence by their weird, last minute 'super-awesome-surprise' announcement. Coinbase didn't even want to hand out BitcoinCash when it forked from BTC, the top dog. If the exchanges really wanted to, they could probably hoard all the SGB they got and 'dump' it a la Jed McCaleb, nothing stops them from doing so. Of course this is the exact thing FN was trying to deter with their FLR release schedule.
  2. So of course Ripple, exchanges and everyone else who asked should have known what the SEC 'didn't state one way or another' because we all have built-in mind-readers. Crushes the Fair Notice defense out of the park. The SEC lawyers can't be that stupid....I'm thinking @BitboyCrypto is over the target, the SEC and Ripple play for the same team, bankers.
  3. I mute the vid, speed up 2x, then using nothing but his mime-induced hand gestures as visual cues, I come up with my own subtitles. About as accurate as the lies actually coming out of his mouth. The French had the sense to guillotine their criminals back in the day.
  4. It's Goldman Gary, what else would you expect? He knows all about the Ether ICO, he ran classes at MIT about it, his almost exact words, 'Ether was an ICO. Vitalk was 19, had a fund raiser that raised ~$18 million with help from Joe Lubin, Canadian venture capitalist...' So the FOIA exposes it all, Hinman, Clayton, Gensler making deals on the golf course with Felon Yellen and the rest, now what? (All of which have worked at Goldman or the Fed at some point) The corruption is crystal clear, but jail isn't for corrupt government officials. What AG is going to prosecute Goldman Gary, Clayton and Hinman? They can't lose if it was their game to begin with. I wouldn't get your hopes of "justice" up ; the game isn't designed to be "just".
  5. In the early days Ripple was distributing XRP for non-cash considerations in order to build liquidity, somewhat analogous to the Howey test of investors investing and expecting some kind of return on their money/investment. Was Ripple holding ICO's or fundraising like Ethereum? No. But they were giving something away (that could have future potential for both parties) in order to build out their network infrastructure. I can see that as a kind of investment, even if you need to twist logic a bit to get there. Unfortunately for the SEC, I don't think the laws as written really fit the Ripple situation, if we're talking about selling/investing in purely literal terms. One of Ripple's arguments is that they didn't actually 'sell' anything to anyone, and they weren't selling their stock, etc. I guess Fair Notice is their strongest argument but there's a lot of holes already in the SEC case so... The SEC should have asked Congress to make a new law or wrote a new regulation themselves (if that's even possible), not gone down the path of enforcement by applying old, outdated precedents to ground-breaking situations, twisting all logic and words to make it fit in the SEC enforcement box. Don't get me wrong, eff the SEC. I still think their case is non-sense.
  6. Here comes the dirt....Clayton getting big bucks at a BTC hedgefund, Hinman getting a $1,000,000 from Ethereum Foundation or whoever, these guys are dirty. Of course the SEC is trying to block Ripple from getting personal emails and comms of SEC employees. If Clayton and Hinman were smart, they kept their dealings for favors off of gov't phones and channels. It'd be a lot harder to get discovery on those things, I think Ripple is arguing that Clayton has so much conflict of interest that it's central to the lawsuit. Maybe not all of the SEC employees, but I'd certainly want Hinman and Clayton's. Funny how the SEC thought it was OK to demand Garlinghouse and Larson's personal financial histories for 8 years, textbook projection and deflection. What if we got Clayton and Hinman's financial records from the last 8 years? Wonder how much they were getting bribed to do what they did to Ripple and XRP....
  7. Sadly nothing will happen to either: when was the last time anyone went to jail for financial crimes, maybe Bernie Madoff but his public sentencing was just to keep the mob at bay. Clayton already has his new director position at Apollo now that Leon Black stepped down on sexual harassment claims. It would be difficult for an AG to go after Clayton and flat out prove he was on the take somehow, even though that's what we all suspect. Hinman has a $1,000,000 in the bank from the Ethereum Foundation so he'd be an easier target for prosecution it seems, "consulting fees" or whatever BS he's calling it. Revolving doors and quid pro quo is SOP for the finance world. It's just scummy that Ethereum Foundation is in on it too, paying off regulators to look the other way and crush competition through lawsuits.
  8. Oh ho ho, now Forbes is writing about it? Social media campaign activated, yet not even months ago all they could produce is FUD. I want Clayton and Hinman's emails between the Ethereum Foundation, and all the quid pro quo hook ups they were getting; Hinman only got an easy $1,000,000 from the Ethereum Foundation for looking the other way. For God's sake, D.A.I. has played 10x the clip of Vitalik on tape saying they're fundraising for Ethereum. If that's not a security offering, NOTHING is. Submit that evidence to the courts. Apollo Group hiring Clayton immediately after leaving the SEC; revolving door, back-scratching politics at its finest. Probably nothing will happen to Clayton but karma is a BTCh. Ethereum miners price-gouging its userbase, pay-to-play from the Ethereum Foundation, any respect I had for Ethereum went out the window. I hope Flare Networks, Cardano, Ziliqa collectively crush ETH.
  9. Would have to ask Ripple how they've set up their escrow but if they were smart and there's no way to change the programmed release dates, then they can just say "hey we can't do anything until the bank vault opens on the next billion" And it would take years for it all to come out they way they have it set now. It's really a question for @JoelKatz, he'd know if you could cancel all the escrows Ripple holds, like with the stroke of a pen. My gut says probably not, otherwise you could just reneg on your escrow which defeats the purpose in the first place, to guarantee release upon meeting the specified terms, either the time-lock, combination escrow, etc. Regulation/punishment would more likely be the SEC or whoever standing at the door the minute the next escrow opens and saying " Thank you, this billion XRP is ours now, see y'all next month." Not saying that would happen but that makes more sense than just destroying all 55 escrows or however many they have.
  10. Sure the USA could impose a huge exit tax on Ripple and indirectly the escrow, I guess. Kind of like California's idea for an exit tax for billionaires, forcing them to pay back taxes for 10 years even after they've left California. The tax would have to be insanely huge, like at least 50% or more like 75-90% to crush the value of the escrow; even 25 billion XRP is still a lot (like if the value was somehow cut in 1/2). I don't think the SEC can do that, it would probably have to come from Congress in the form of a law. Exit tax is an extremely unpopular idea even for liberal-leaning people. The idea that you owe forever is so un-American, I don't know that they could really pull it off in Congress. Then again they just passed $1,900,000,000,000 of money for themselves so what do I know?
  11. I don't see how Ripple would be forced to hand over the keys to the Escrow. It's on a time-lock, unless they have some fail-safe that overrides the escrow rules. If they were smart, they set it up as "our keys, and our crypto"; Ripple definitely multi-signs all their billion XRP addresses, with like 4/8 signers typically. If the USA doesn't like it, then they'll move of out its jurisdiction, which they kinda threatened to do already, if not 1/2 jokingly. It seems more likely that Ripple will have a serious say in what happens to the escrow, regardless of the SEC lawsuit. The US government can't just confiscate it, even if it wanted to. 80% of XRP business happens outside the USA already too so that's a thing.
  12. If it were a criminal case I don't think they would have to ask for such things in discovery, they'd just be able to get a warrant for the information directly from the banks BG/CL use, kinda how the police subpoenas Facebook for information when solving an actual crime. You don't tell the criminal you've got dirt on them usually. What Brad bought for lunch and where he has bought his underoos for the past 8 years is irrelevant to the case... ~~~~~~~~~~ My dude John Deaton spitting flames at these SEC knobs. The Clayton/GoldmanSachs/Apollo/BTC-ETH connection is starting to make more sense. Ex-Goldman guy Gensler also used to head the CFTC and just couldn't figure out how JP Morgan was manipulating the COMEX silver markets while he was there.....hmmmm, looking the other way for a big bullion bank...maybe he should have started with looking into the SLV trust. All these people rub each others' backs, the crony capitalism and corruption is kinda nauseating honestly. And now Gensler is coming into the SEC to do what? Regulate 99% of cryptos into oblivion so the banks can step in and take over, while the CFTC and SEC look the other way when the banks commit more financial crimes. Clayton might have bought some time, but is it really enough? XRP isn't going away obviously and unless someone else has similar or better tech, I don't see Bitcoin/Ethereum performing the task XRP can already do. Maybe some kinda deal with XLM, but network wise I'm pretty sure XRP is superior.; XLM has definitely had more hiccups and issues than the XRPL, (millions of transactions and billions in value without a glitch, bank partnerships, etc etc.)
  13. So is the value set up through a contract mechanism; like an agreed bridge value? Some assume that it's the open market alone which will dictate the price of XRP, as in adoption up, price up, and up n up. Makes sense from a particular perspective but not as much when you realize there are a lot of "hidden" OTC-style dealings going on as well which don't affect the exchange markets.
  14. I found a diagram describing what you explained, I think. I suppose the endpoints can bypass the XRPL and have direct communications with other waypoints in one of the outer rings. As for the XRPL, I'm sure there must be a central factor that connects all these points through the XRPL, not sure exactly what that is, but I don't think you'll be able to remove the XRPL and still have the rest of the system work. Just my hunch. Might just be the path of least resistance to go through the XRPL for transactions, and then therefore become the main way of doing business.
  15. Clayton obviously didn't act alone, though he shoulders a lot of the blame for bringing the lawsuit solely because he was the SEC director. I still have a hunch he was tapped on the shoulder, idk by who, but told to do what he did; I doubt very much he was at the top of the decision-making food chain. ~~~~~~~~~~~~~~ Gensler is also a revolving door Goldman BallSachs Federal Gooberment swamp critter, led the CTFC back during Obama's term and found NO wrong-doing the COMEX silver markets, yet in 2018 JP Morgan pays fines for rigging the silver market for a decade (actually much longer than that but what's another billion in fines?). Gensler is smart and seemingly understands cryptos way better than someone like Clayton, but he's not immune to look-the-other-way-itis. BTC/Tether/Bitfinex fraud immediately comes to mind. SEC Gensler: "Oops, we couldn't find any fraud, and the Tether printer seems to be working just fine, oh well." Literally more of the same Wall Street corruption, at least the NY AG barred Tether from operating in NY state, but had no problem skimming an easy $18 million for it's own pockets. Nice shakedown for some lunch money.
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