Jump to content
LordVetinari

A Former Top Wall Street Regulator Turns to the Blockchain

Recommended Posts

An article about the regulatory challenges crypto is facing. Like it or not, Ripple is in the crosshairs. 

A Former Top Wall Street Regulator Turns to the Blockchain

Expect to see this article quoted a lot in the near future. 

I don't agree with the article but it's a very real discussion being had. 

PS.. Don't shoot the messenger.

Edited by LordVetinari

Share this post


Link to post
Share on other sites

Author: Nathaniel Popper. A guy who makes money selling books about Bitcoin.

I think mr. Popper is in for quite a suprise, his last attempt at attacking Ripple went really bad.

http://fortune.com/2018/01/05/ripple-ceo-brad-garlinghouse-cryptocurrency-xrp/

 

Edited by mandelbaum

Share this post


Link to post
Share on other sites
5 minutes ago, mandelbaum said:

Author: Nathaniel Popper. A guy who makes money selling books about Bitcoin.

I think mr. Popper is in for quite a suprise, his last attempt at attacking Ripple went really bad.

 

Thanks for your input. What was the last attack?

Share this post


Link to post
Share on other sites

@mandelbaum I'm not concerned with the author of this article, rather Gary Gensler, who Popper is quoting.

It's important to understand where both sides of the "securities" debate stand and how they've reached their particular positions.

Again, I'm posting this article because it's obvious this article will be the source of many future comments. It is FUD fodder which can be used to both prop up BTC, and try to hinder XRP. 

 

Edited by LordVetinari

Share this post


Link to post
Share on other sites

I like how they lay out all of their incestuous financial relationships in the first few grafs - then slip one of their own into an MIT fleece to "teach".
The really fascinating part is that any idiot can go to CoinMarketCap and toss a dart and hit a scam coin, but this guy goes after BTC threats. ;)

If nothing else, this may finally unite the non-BTC developer ecosystem, get them to quit fighting amongst themselves, and go after Mr. Gensler.

And, of course, his "disinterested paymasters"...   The more I think about this, the more I like it.  The blowback they're gonna suffer is just yuge...

Share this post


Link to post
Share on other sites

Thanks for the post.  If XRP were to be classified as a security I believe what this means is that it would not be allowed on UNregulated exchanges.  All regulated exchanges will buy and sell securitized tokens.  It means a shift in the "legitimacy" of the XRP token from a regulatory standpoint to almost 'more legitimate'.  This is my understanding.  I don't see that harming XRP in the least.  Any thoughts on this?  

Share this post


Link to post
Share on other sites
36 minutes ago, NightJanitor said:

The really fascinating part is that any idiot can go to CoinMarketCap and toss a dart and hit a scam coin, but this guy goes after BTC threats.

Exactly this.  Mr. Popper also adds in a few quotes from Joi Ito ( member of the board - Ny Times) for no other reason than to try and to illustrate the absence of an agenda since Mr. Gensler is "independent" and not in it for the money.   Yup, of course.

Share this post


Link to post
Share on other sites

If Ripple and XRP do not survive regulation, then no cryptocurrencies will survive regulation. The fact that several current Ripple board members (see: Ben Lawsky) have a robust history in dealing with US securities regulation, I feel confident that Ripple is poised to be the most successful at navigating the regulatory minefield of all the cryptocurrencies.

Oh and don't forget, by their very nature, cryptocurrencies/crypto assets (XRP) cannot be censored or seized by a governing body. This is a large reason why cryptos exist.

Share this post


Link to post
Share on other sites
10 minutes ago, vidvin said:

https://www.nytimes.com/2018/04/22/technology/gensler-mit-blockchain.html

 

I request experts to comment on this. i am strong believer in XRP. News like this is making me nervous.

Same thread.

https://www.xrpchat.com/topic/22834-a-former-top-wall-street-regulator-turns-to-the-blockchain/?tab=comments#

 

Share this post


Link to post
Share on other sites

×