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Everything posted by jetbrzzz

  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.
  16. From what I understand, I don't think this is how the forked infrastructure is laid out. Why would the BoJ trust validators from the FED or BoE Bank of China, etc? The whole point is for private clients to have complete control over the issuance of their currency, IE sovereign nations like the USA aren't going to trust China with keeping the validators legit and vice versa, the CCP isn't going to trust Japan, Canada, etc hold validators for the Digital RMB. China might not even use Ripple tech for their digital Yuan so how will they interoperate with everyone else if not through the XRPL? Will have to wait and see if there's a whitepaper released on the architecture, but every central bank gets their own private ledger and run their own node network, they can then transact through the main ledger XRPL with other CBs private ledgers. I don't think the design is every single CBDC on a single ledger. It's possible to do yes, but does not offer the privacy that the CBs demanded in the first place. Maybe BoJ doesn't want China to see its transactions with the FED or Bank of Korea, etc. Garlinghouse said one of his Middle Eastern bank clients said exactly that he didn't want the transactions publicly viewable, which it would be if every CBDC was on the same forked ledger; every CB could see every other CB's transactions.
  17. My dude Jake the Snake is the kind of lawyer the SEC hires, flash not facts, lol The SEC is either incompetent, hired council like Chervinsky or both. Can they really be that stupid to not know their own statute of limitations is 5 years to bring enforcement? Then they amend their original complaint, cause, oops...we forgot our case doesn't really make sense. How is the judge not laughing the SEC out of the courtroom as we speak. Unless there's political motivation or some backroom deal to armbar XRP, which has to be the case. Nothing else makes sense of all this.
  18. Obviously not, it's completely different to have something in your hand, settled, free and clear versus an IOU that says you own it. Might be a use case for holding debt, loans I suppose, but if you could settle instantaneously why wouldn't you? The reason lots of entities hold debt overnight/weekly/etc is cause it takes so long for money to move through all these legacy systems, bank to bank, etc There's also some sort of credit line financial warfare aspect to holding debt between countries. Only countries that play along with the FED get a direct swap line so, idk how that factors in to the new crypto paradigm. ~~~~~~~~~~ Some of the BTC sidechain solutions try to work around the fact that BTC just can't keep up with the amount of TPS, like racking up a side tally then coming back into the main chain at a rate the BTC network can handle; basically an IOU debt system in parallel with the main chain. If the tech exists to settle instantly though, why not?
  19. This T+2, T+3, or debt swaps is exactly what crypto ike XRP is going to replace. With XRP and it's offspring, there is zero need to hold the IOUs or swaps, the transactions settle instantly essentially. The GME saga was partially 'caused' by collateral calls on stock orders and a wrench in the T+days system that is currently in place, where people swap stock IOUs until the stock transaction settles days later. All that goes away with instant settlement, think stocks as NFTs on FlareNetworks/FXRP. You buy it, you own it, within 5 seconds. Not days. ~~~~~~~~~~~~~~~~~~~ It's the same thing with the FX market, if you don't need to hold trillions in cash reserves just to operate, why would you NOT want to get on that system as fast as you possibly could and free up that capital for other things? All because no one trusts anyone else to actually have the cash they say they do, so these FIs have to keep it in a huge pile behind them just to show the other FIs they're not lying. It's such 1960's tech. Instant settlement is the name of the game.
  20. CBDC 1 <------>XRPL <-- ----> CBDC2 All. The. Money. Every nation's central bank is going to control their own Ripple tech private blockchain, issuing their CBDC flavor on that isolated private chain, (USDx, JPNx, UKx, CHx, et alt) running all their own nodes privately. And then it's all going to flow through the XRPL. FFS, Ripple is handing them(CBs) the tech in a box with a bow on it, of course it's all going to be compatible with the XRPL. Hopefully the criminals in charge up 'till now won't be able to inflate whatever supply they create on their private blockchains, though don't hold your breath. Also auditing their chains may/may not be an issue, just like no one was allowed to audit the FED until Trump.
  21. Here's all the "value" in the world. Quadrillions in real estate, derivatives, commodities, cash, bonds. This is what Evan Schwartz means by "All. The. Money." DTL, ODL, NFTs, XRP. XRP at $35,000 is $3.4 quadrillion, enough to cross-transfer the value of everything, which it doesn't have to, but physically could. Obviously this doesn't happen overnight, all these assets have to be NFT'd first anyway onto blockchains, probably year(s) away. The same as saying BTC is going to be $56,000 but back in 2012 when it was trading at $3.00, laugh until it happens. $100,000 BTC, $1,000,000 BTC, oh really that's not cray either? ~~~~~~~~~~~~~~~~~~ Scroll down all the way to the bottom, I'll wait cause you're going to be awhile scrolling through derivatives. https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2020/
  22. Sounds ridiculous but when you look at the XRP log chart, the Fib shows exactly that. Bro, XRP hasn't even started to pump to the upside of the Fib yet until it hits ATH again, 1 on the Fib chart (~$2.90-3.50). For any of you who missed @JamesRuleXRP interview, the interviewee makes a similar 'prediction'. He's of the opinion that if CBs all agree XRP is going to be the standard, it'll top out around $10k-35k. I think he's implying this would be the range without XRP/FXRP being used in smart contracts/NFTs/derivates. Basically a full Fib extension filled ~$35,000/XRP. Personally I think he's missing the derivatives part of the equation (FXRP). What percentage of the XRP market will be CBDCs exchange vs smart contracts/derivatives is hard to say, but what if all stocks, commodities, real estate, vehicle titles, artwork are NFT'd? Now you're talking all the money, instant swaps of physical assets on the XRPL/FlareNetworks with no middlemen. I'd say that would likely dwarf CBDCs exchange, maybe 30:70 even? Cardano is also in the game with some others, but Ripple definitely has some markets cornered, like the banking sector. With all the people dying to defect from Ethereum to avoid the gas fees price-gouging, Cardano and FlareNetworks are going to suck up a lot of their business. There's a reason ADA and FXRP are Ethereum-language compatible. ~~~~~~~~~~~~~~~~~~ So what would it take to max out XRP at $10k-$35k? 1. CBDCs minted: Obviously SEC resolution. Whatever they decide, needs to be clearly over. Centrals banks are working on minting CBDCs through RippleX (on the XRPL I'm assuming) and would have to be in place. Once that's done, along with #2, stick a fork in it, XRP is ready. 2. FlareNetworks online (derivatives/smart contracts/NFTs Q2-2021): Gala Games and all the other parties that are going to use FlareNetworks to mint NFTs etc will take up a nice chunk of XRP (as converted into FXRP, locking up said XRP). Also anyone who has Spark should be able to milk a steady return on staking (to mint FXRP for smart contracts). HODL them Sparkies. Not if but When NFTs move into tokenizing physical assets, who knows? Once FlareNetworks is online, the door is open for NFTs for stocks, real estate, commodities, smart contracts for insurance, loans, rental/purchase agreements, etc. ~~~~~~~~~~~~~~~~~~ Consider that the entire fractal up to now has been 100% pure, retail, 0.5% of the population speculation. Sure MoneyGram is using XRP, but we're waiting for the CBs and smart contracts/derivatives to come online. Once they do, faces are going to melt. TL;DR As for price speculation, anywhere from $17-$200 in the next year or two based on pure speculation. When the utility switch is flipped, 4-digits and beyond. Interview below, worth the 30 minutes.
  23. If this is true....karma is a b!tch. What a snake you'd have to be to do that. How else would the SEC get private client-privileged info from Ripple's lawyers?? My opinion of The Last Jed-i McCaleb only seems to go in one direction; Mt. Gox implosion-> XRP dumping -> SEC informant
  24. The only thing smoking was the SEC, taking a huuuuuuuge bong rip before they dreamed up this lawsuit
  25. There should be common sense against using precedent from laws that were written before xyz tech even existed being applied to case law in 2020. Those people barely had color TV's when that case law decision was written, it's almost irrelevant. They're really grasping at straws with their logic, I get the idea but it's still stupid. This is why they gave Clayton the boot early, he dragged his feet the entire time he was at the SEC, not willing to pass XRP through the rule-making body at all during his time there. I mean the SEC met with Ripple on a regular basis apparently, like, c'mon they knew what was going on. Clayton could have been working to get XRP through the rule-making body at the SEC, instead he turned around after years of nothing and said "F*ck you," on his way out so he can suck it.
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