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7Sol

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Everything posted by 7Sol

  1. Binance pays 5.5% APR on USDT and BUSD they lend to traders at a much higher rate.
  2. 1) The SEC filing shows what they did vs. what they said they were doing. In a nutshell, SEC informs the public, Ripple corporate officers were enriching themselves selling their own XRP, worth hundreds of millions USD, into the corporate news stream officers control. 2) I discard Ripple corporation narrative, "not a security", "attack on all cryptos" as damage control. Unless the millions extracted for personal profit get rebuked, Ripple corporate officers have lost standing in my book. I can only consider acts from the defendants as my credit to their words is revoked. 3) Do XRP investors stand a claim into the pirate's coffers? Can jurisprudence evolve towards total restitution to investors vs. fines to the portion which reward operations at the fringe of the law?
  3. I have to keep on the table the possibility the epic 2016 25x run up to the 3.5 run were engineered. If they were it was a strike of genius.
  4. The bots operated by the Market Maker cited in the filing. Why would the entire operation stop as long as the suit isn't settled?
  5. Would that include phasing out operating the bots?
  6. Ripple, the corporation, just got stripped naked by the regulators in the lawsuit just filed. What is alleged: 1) The corporation officers sold for more than half a billion dollar worth of XRP for their own account, meaning their own pockets. 2) xrpchat.com the very site we use right now, is owned and operated by Ripple and cited as one of the tools used in promoting a security. 3) The big officers payout was a compensation for knowingly taking the risk of breaking securities laws. 4) Everything about Ripple growth has been paid for in XRP, including signing up banks, listing on exchanges (up to a million dollar), operating money transfers at a loss. 5) Ripple has been using a Market Maker firm to time XRP sales (officers own account and corporate) . Meaning Ripple profited from inside information. On the converse 6) Ripple sits on a large pile of cash, although none of their products found significant use on their own merit.
  7. Sure, once XRP is listed as a security, all applicable laws are fair game... I have yet to hear of anyone being sued for manipulating a currency...
  8. Case already filed UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK - 20 Civ. 10832
  9. I like reading that someone ended up getting the SEC does not decide the matter, a judge does.
  10. Which innovative use of the Internet did Christian Larsen make that paved the way for fintech? Defendant is called on unregistered securities offering. What is the link between those two points?
  11. Can you please detail the contribution of that settlement in fostering the "entire fintech" industry?
  12. Do you mean the US government? Binance left China and they became the largest exchange. One reason for the filing before Christmas may have been to make sure a judge would have to look at it and prevent anyone pulling the case under a rug. The CEO sold $450 million USD worth of its own XRP.
  13. It is a legal complaint containing proofs, as in emails from the main defendant. meaning, I know I am issuing a security and I am compensated for assuming that risk. I am getting XRP in exchange for taking the heat. Done it before. Therefore the SEC alleges defendant knowingly engaged in the security offering.
  14. The generals were sending the troops, that's us, to combat fiat. Soldiers took the blows day in day out. Soldiers find out the generals were sending the mercenaries (Market Maker in the filing) to plunder hundreds of million of the soldier's fiat. If the generals believe in the value they ask the soldiers to fight for, how come they fill their own coffers in good ol fiat? Do they not believe XRP will be worth so much more tomorrow than now? Thanks @Troote for providing the SEC filing link. I could not believe all what I read. Once I realized what they did, I took a leap of faith and shorted a decent amount at 0.36, got out at 0.25 ish. I got all my money back from the limited longs I was in - 0.20 cents drawdown still hurts - plus some extra.
  15. Are you comparing hodling XRP today as safe as handling uranium?
  16. Not owning any and eyeing 0.2x, how is that stressful?
  17. Which price point would alleviate the stress?
  18. I closed my last hedged shorts and now net long XRP. My mind seems to work in reverse. I view the reaction to the lawsuit disproportionate as to the impact it may have. If anything, addressing that liability now, clears the future for Ripple. That is not to say XRP won't track back to 0.33 even lower, pursuant BTC action.
  19. Spark IOU can be bought and sold on Poloniex 1 XFLR = 0.09 XRP at this time. I cannot believe some people are actually bidding FLR at 0.045.
  20. Cheer up I just got my flares! Was worth 0.05 now down to 0.045
  21. A little sun ray today. XFLR IOU is selling now for 0.05. I was expecting 2 - 3 cents top. Some people managed to sell at 0.072. Get'em while they last! For more details see the FAQ.
  22. Friday evening, let's see whether this goes over 23400.
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