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Everything posted by mistatee2000

  1. As of this morning no more GBP deposits or withdrawals with Binance. The governments around the world are really looking to tighten regs on exchanges with the biggest impact falling on retail investors.
  2. They might have done if Ripple had contributed to their pension funds!!!!!! This in the light of the latest revelations regarding Etherium being declared not a security by Hinman who was getting a huge pension from Simpson Thatcher, a member of the Etherium Alliance.
  3. This just re-inforces what the SEC are saying, though I don't like it ie that they are not claiming that XRP is a security, they are stating that Ripple at certain times sold XRP as if they were unregistered securities. Joe Public have been buying digital assets ie cryptocurrency from exchanges and these are not classified as securities - yet. The SEC are after Ripple, Larsen and Garlinghouse, but the complexity of all this has caught many in the cross fire and scared off the US based exchanges, with the odd exception.
  4. One thing that came through loud and clear, is that she is only one vote out of 5. It will be interesting to see what external pressures (ie the existing system and power brokers) are going to be put on Gensler even though he understands the benefits of cryptocurrencies and blockchain.
  5. This is another view available on Coil regarding this discussion and Jesse Hynes gives a good legal background to the long XRP response. As I have no legal background I appreciate looking at a number of these responses to get a balanced view
  6. I agree. Jed now has no interest in XRP other than as a competitor and as a cash cow. He would have liquidated everything at less than a cent if he could have done so several years ago, whether maliciously or not.
  7. I've been trawling through alternative views to get a balance. The one thing that I am sure of is that the outcome is not certain, hence I am not investing any further in to XRP for now and have diluted my holdings. The one thing that will come out of this, rightly or wrongly, is that both Larsen and Garlinghouse will come out of this tarnished and I'm not sure that they will be able to hang on to their positions. My personal bet is that either by settlement (preferably because less time lost) or by trial, the XRP currently in circulation will be deemed currency, the escrow will be burned/locked or only made available to institutions and not for retail sale, and Ripple, plus the 2 defendants will be heavily fined.
  8. Firstly, good to have you back commenting. I agree with your thoughts that the escrowed XRP will have to be better controlled and that XRP is not for retail and never has been. I like the theory that Hogan has more recently come up with that the escrow could well be only sold by Ripple to the institutions as per the Kit Interactive finding - his comments start at the 7min14sec mark
  9. A balanced and well judged approach is what's needed. This is a twitter repost to the article posted. Again it is well reasoned but does acknowledge that the lack of an audit on Tether is of great concern https://twitter.com/dfauchier/status/1350741875293040640
  10. I agree, the potential looks huge. I'm looking forward to seeing what the initial market price is once the initial 15% is distributed - I don't think it is reflected in the current IOU's on Bitrue, but hope to be proved wrong.
  11. I'm not a Maximalist of any sort. I just believe in fundamentals and constant researching. I came across this recent article regarding Bitcoin, all of the crypto market and in particular the ramifications of Tether, considering that they are under the spotlight. I just wanted to share it here. I have no agenda though I always question the motives behind these articles - that said, once you have read this seemingly well researched and lengthy article, you can then make your own minds up. By the way it's not my article, I aint smart enough to write something like this https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
  12. And here it is officially from the SEC https://www.sec.gov/news/press-release/2020-338 In conclusion
  13. I'm not so sure that the price for XRP has much to do with Spark at the moment. It just seems to be following the whole market, albeit alot more slowly, although a 50% increase in 4 months months isn't too sad.
  14. I do accept what you say to a certain point, however, if every driver needed to know how the internal combustion engine works on a car, then there wouldn't be many cars on the road. Most people have to make do with concepts, especially when investing in something like Tesla for example (I know, electric vehicles), or more relevant, cryptocurrency assets.
  15. The ledger numbers were the important bit of information needed to verify the situation. In the interests of Ripple being open, I don't know why it took them so long to release the info, knowing that the cat was out of the bag. There was a protracted and heated discussion on twitter about this. JK put out the info but I guess he got it from N Bougalis - I'm also guessing that Nik may have felt it more appropriate to come from JK. Is it better to have this in the open now? - I think that it is, as in the future someone with genuine or malicious intent, would have got to it and put it out any way. A "halt" is a massive issue and hopefully this one has been resolved and put to bed. I wonder if Mr McCaleb would have been so open
  16. You are right, though if they were to start releasing the 1billion XRP in escrow every month, it would almost instantly cause havoc in the market. Unless of course demand was huge- so second guessing those consequences would be interesting.
  17. Yep, just looked in to it a bit more. XRP does not figure. I will put it on the back burner although it adds to the ecosystem ie not negative. Remind me to buy Ripple shares in future
  18. Times must have changed or I must be very simple. If I transfer money from one single currency state to another, whether in the Eurozone or USA, then XRP or Ripple has little benefit, which is why Ripple and XRP were not considered for faster payments in USA, and Ripple acknowledged that XRP was not designed for such internal systems. So where is the advantage in the Eurozone? I'm not making a statement, just seeking enlightenment if times have moved on
  19. I'm not sure what benefit Ripplenet brings to a Euro to Euro corridor, however, I can see benefits of a tie up with Nium outside of the EU.
  20. Yes I've viewed this? I would say Game On. You can see why Flare and Spark are going to be so important for Ripple and I guess that they must have seen this coming. Not so sure who is ahead now, but it is a scenario where Ripple will be up against a huge competitor, but with one arm tied behind their back by the US government and regulation, now and for the past three years (a long time in this tech space for competitiors to take advantage). China is highly motivated to take control of the global payments market and wresting the power away from the USD. We know that they have been doing alot of work in the blockchain area. I realise this is not a CBDC, but in the arena of global commerce it gives yet another competitive edge to SME companies using Trusple, and they will be Chinese and Far Eastern in the early stages. This is one heck of an initial salvo by Ant Financial, launching a system that is commercially viable, ready to use and backed by such a massive conglomerate (if not the Chines government). Not sure how this will impact on VeChain too, though I don't see one winner taking all in any case.
  21. It's a clever idea because the banks do not want to use cryptocurrency. They will try to make this work as much as possible because it is in their interests plus it makes them look as if they are doing something to bring down the costs and friction. Why is the US SEC not giving clarity to cryptocurrencies and XRP in particular? Is it because they want to delay adoption so that more solutions like this can come through and stop the tide of something they cannot control - I think, within the government, it is more like keep the status quo for as long as they can because of ignorance of the potential and the threats from outside. The East will not wait for the USA to sort themselves out - they are eager to take the fight to the establishment and ODL is their opportunity to grow. This is going to get increasing interesting
  22. Just another competitor in a very large market. It was never going to be just one solution. The established banks will try to use this - it may work for them, but there are now many smaller institutions who want their say and slice, and the old system wants to keep them in their place ie at the bottom of the pecking order. The genie is out of the bottle and change is coming, but it is not going to happen overnight and it may not be RTGS Global or Ripple.
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