Jump to content


  • Content Count

  • Joined

  • Last visited


About bookworm

  • Rank

Profile Information

  • Gender
  • Interests
    Adoption of new ideas/processes that can lead to cost savings or value to financial institutions. Considered blockchain enthusiast given recent bank ledger migrations and transformation projects in the region. Ripple's native ccy is my keen interest with my belief that XRP will become more valuable in the long run.
  • Location
  1. @cuber Thanks, I found the actual photo of whale feeding with reference to Nov 25, 2011. Date is likely insignificant ...
  2. @Ripplista79 Let’s see whether my friend is a true connected person ...
  3. Cannot read bottom letters and words but ... omg, that’s a whale that the guy is feeding X something ... or is it my eyes dreaming of moon ...
  4. Ripple is a privately held company so there’s no requirement to make statutory disclosures to the general public. Contributors of Wikipedia are like us who make update/post interesting info/make corrections but info may not be 100% accurate. Private ownership of Opencoin and Ripple is different so there was a valid transfer or gifting of XRP for some consideration. If ownership of both Opencoin and Ripple are totally identical, there may be an argument of deception to stave off regulations. Again, only the insiders would know the exact t&c and the corporate structure/governance. I beg to differ with your points but you’re at liberty to have your own opinions.
  5. @ZeroXrp hypothetically, I incorporate a private co with 3-4 buddies called OpenWorm but later rebranded as RippleWorm. We decide to mass produce 100b stainless steel bookmarks with my bookworm logo on it. These items are arbitrarily sold via flea markets or binned by many people. After 5 years, online marketplaces evolved to resell used/new items eg, Amazon, TaoBao, eBay. We now realise that there’s a market for these bookmarks especially in Asia with tiger moms and parents keenly pushing their children for better grades so durable rustless bookworm bookmarks are gaining popularity as the must have school stocker. Surely, these bookmarks are not a security as there’s no expectation of return or profits. While we mass manufactured these to take advantage of economies of scale, lower cost and expected surge in steel prices over time, there ‘s no guarantee of profit, ownership or dividends. Owning more bookmarks will not give you voting rights or power of the private co ... For Ripple’s XRP, it is quite similar since there’s no profit/return guaranteed. Only simple case of market demand and supply which can work in either directions leading to price drop or surge. Similarly, can you deem a woodmill cutting, selling lumber and stockpiling inventory a security by the sheer inventory? From an accounting perspective, these goods would be treated as raw matrrial, work in progress or finished goods while there’s no guarantee that the mill can sell at a profit ... think we’re in the same boat ...
  6. Having worked with regulators, Ripple will likely be exhonorated under ‘safe harbour’ given lack of concrete regulations on XRP. This token is licensed (Bitlicense) as a digital currency in NY given the uncertainty of this new asset so definitely not a security at the onset. Ripple, the company however had raised funds thru private placements only subject to accredited/sophisticated investors for their privately held company which is totally legitimate. Any owner of Ripple stock/shares would be holders of securities. The monthly selling of XRP held in escrow has been limited in the recent periods given Securities Law of 1933 that stifle broader fund raising and selling with only those tokens sold as a licensed money service business. This would explain the predominant use of XRP by money exchange remitters. Based on recent verbage from the US regulator (Clayton), it is clear that they are adopting a ‘sandbox’ approach. On one hand, they are lacking expert opinion and resources to regulate these new digital assets so their approach is one of self-regulation. On the other hand, they would like to isolate and ringfence any questionable assets (crytocurrencies, digital tokens/assets, utility tokens) while not impede innovation. This is great news as the regulators are letting the new crypto space develop and mature before jumping in to regulate. It is also clear that all new ICO seeking funding would be treated as a public offering alike the ‘securities’ definition with regulatory oversight. If it relates to fund raising, this would be subject to regulatory oversight to protect the general public so we will see exodus and selling pressure from these. In regards to tokens/digital assets/utility like Bitcoin, Ether or XRP, these will be allowed to freely trade on a crypto exchanges as these tokens or the majority owner(s) of these tokens are not seeking to raise funds via sale of tokens hence, cannot be treated as a security. For XRP, the argument was centered on Ripple’s control of the use of their token given ownership by the conpany or investors and whether their monthly 1b sale of their token was to raise funds or to faciltate MSB under their NY license. In the worst case, Ripple can always burn their 60b escrowed tokens if this concentration or centralization has been and is still the pressing issue ... only my two cents.
  7. @cuberA small peek was just posted to the Gen Discussion section ... the date of Jun 11th is actually not quite accurate but who knows whether my info is any better than yours.
  8. Adding more confusion now with Coinbase nearly licensed to offer crypto securities in the US ... https://blog.coinbase.com/our-path-to-listing-sec-regulated-crypto-securities-a1724e13bb5a Does this mean that all cryptos will be treated as securities incl Bitcoin type tokens? Nevertheless, approval of this license will only lead to opening up of cryptos (non/securities) to the masses. Thoughts and views are welcome on impact to XRP and pow energy/hungry coins like BTC, LTC etc ...
  9. I would like to know and confirm whether you know what I also know. Please pm me in confidence so that we can both reconfirm what is known and from whom ...
  10. @aavkk Some speculate that daily volumes has increased by about $80-100m since launch. This is about $4-5k on average. Based on estimated 4m new customers at $3-4k each, this would translate to almost $12-16b avg daily volumes based on simple comparison. The market cap of tradeable XRP is about $30b with only about $5b in weak hands and actively traded. Hmmm, this would be quite eventful to watch as $10b+ in daily volume is chasing about $5b in active weak/non-hodl hands ... moon baby ... let’s hit $1 by end Jun, $10 by end Aug before $589 by end of 2019/2020 ...
  11. After listening to BG, I am getting euphoria with his confidence of banks using xRapid by end of 2018 and dozens of banks using xRapid by end of 2019. That's dozens with a 's' which would mean 24, 36, 48 or even more banks using xRapid. Hmmm, it may be timely to increase exposure to XRP as the stars are lining up for the Bitcoin decoupling and moon ...
  12. bookworm

    Did anybody else know this???

    @invest2lose Worried for you with either too much confidence or too much stash of cash to lose. As $400k would be a steep amount to save, risk and lose. There are however some forum members with chunky holdings bought around $0.006 or less than $0.01 well before Jun 2017 so ... not me but I’m happy with initial entry point. Every $0.01 surge is a double on their initial investment. Earlier yesterday, we saw $0.05 after news about SBIVC but the entire crypto markets had retreated since. Lucky for the hodlers who are sitting pretty on their gains ...
  13. bookworm

    Did anybody else know this???

    @invest2lose I joined this chat around the same time you joined. Likely we bought around $0.20 each so why on earth would you invest $400k on XRP except only to lose. Unless I’m missing something ... I bought 100k and even $20k is a significant investment in XRP amongst my other investments ...
  14. Day one with 20k registered customers ~6-8% price surge. Hmmm, if we see a daily price surge of only 5%, we will see 4x or near $3 by end of June. If SBIVC launches to the broader public in July, we will see 50-100 times more customers who will eventually be approved to buy and trade XRP. If we assume a modest 50k new customers in July, we will see at least a 4x ramp up in July. That would make XRP about $10 give or take ... This exchange will eventually allow BTC and BCH so I can see even more customers attracted to this exchange. Japan’s population is well over 100 million with about 5-10 million active crypto traders so I wouldn’t be surprised to eventually see 1 million plus new SBIVC customers ... not sure but we will likely see moon rising when this happens with XRP well in top spot ...
  15. Oh, that’s the moon ... get ready for surge in price?!?