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Lawson Baker: XRP is a security. Ripple is the issuer.


flanman
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“Ripple will sell off all their XRP”, “XRP can be frozen and has been by Ripple.”, “XRP is a security.” Just a new flavor of the week in a long list of fud from detractors with different investments. No reason to get all worked up over something that will pass and another arguement will take its place.

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Ripple can sell all of the XRP it will just take 6 years to do or (56 months at least) they can sell 1 billion a month. Why would they a company of 200 employees doesn't need the over 100 million they have already raised. They have more than enough money to live the fun life..............and all are set financially due to that little crypto xrp.

We need real usage not just paid for pilot programs.

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Can someone explain to me, what would the negative be if XRP were actually deemed to be a security?  One thing that occurs to me is that would allow it to be traded on standard stock exchanges which tends to be a place where the news stories XRP is putting out, would actually have the impact on price that they should.  This would also likely decouple it from BTC as it would now be purchased directly with fiat.

Those things aside, I assume their are legal/practical reasons why XRP as a security is something that the community would see as a negative - so please inform me.  

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18 minutes ago, jasil said:

Ripple can sell all of the XRP it will just take 6 years to do or (56 months at least) they can sell 1 billion a month. Why would they a company of 200 employees doesn't need the over 100 million they have already raised. They have more than enough money to live the fun life..............and all are set financially due to that little crypto xrp.

We need real usage not just paid for pilot programs.

Technically they can also sell escrowed XRP, e.g. using a futures contract that expires when the XRP leaves escrow.

It doesn't actually limit the rate at which they can sell XRP, it only limits the rate at which supply on the spot market can increase.

 

RE: real usage, yes, but given the product started being developed like 10 months ago, maybe it's not that realistic to expect anything more than tests and pilot programs. It's probably going faster than they expected ...

Edited by corak
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38 minutes ago, vsyc said:

 Before it was "XRP is not used, bring me the prove" today "its beta, we need prove of production"

I clearly see that trolls have a lot of job to do, as Ripple has progress!

Note: XRP was used way before announcment

That means what?

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1 hour ago, corak said:

Technically they can also sell escrowed XRP, e.g. using a futures contract that expires when the XRP leaves escrow.

It doesn't actually limit the rate at which they can sell XRP, it only limits the rate at which supply on the spot market can increase.

 

RE: real usage, yes, but given the product started being developed like 10 months ago, maybe it's not that realistic to expect anything more than tests and pilot programs. It's probably going faster than they expected ...

Holding them at their word on the 1 billion a month, but yes, of course they could.

 

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2 minutes ago, jasil said:

Holding them at their word on the 1 billion a month, but yes, of course they could.

 

Escrow makes it physically impossible for them to move away any more than 1B XRP per month from those accounts. They still own all this XRP and as such they can sell it. Just not on the spot market. You understand the difference?

Edited by corak
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9 minutes ago, corak said:

Escrow makes it physically impossible for them to move away any more than 1B XRP per month from those accounts. They still own all this XRP and as such they can sell it. Just not on the spot market. You understand the difference?

I understand! 

Please tell me who handles futures contracts for XRP? Any links?

 

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Just now, jasil said:

I understand! 

Please tell me who handles futures contracts for XRP? Any links?

 

There's at least one futures market for XRP that has been in operation for a while, but that is not important.

I'm pretty sure Ripple could sign a futures contract privately with a counterparty of their choosing, should they desire to do so (and have a counterparty interested in this).

Completely hypothetical at the moment, of course, as they are selling about 100M XRP per month out of the escrow

 

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6 hours ago, jasil said:

Ripple can sell all of the XRP it will just take 6 years to do or (56 months at least) they can sell 1 billion a month. Why would they a company of 200 employees doesn't need the over 100 million they have already raised. They have more than enough money to live the fun life..............and all are set financially due to that little crypto xrp.

We need real usage not just paid for pilot programs.

That's a great point. Garlinghouse, Larsen, these guys have wealth to the point where they're no longer concerned with money. They just want to build things, and if the SEC is smart they already recognize that.

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