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kryptoroi

SEC chairman on cryptocurrencies

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Can someone rephrase this for me??? Based on what he's saying, 99.99 % of crypto will fall under securities since they all somehow raise money :( to advance their program/research/project and allow the coin to be sold on the secondary market! But since ripple and xrp are separate , I guess we're safe??

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Doesn't sound like XRP is safe at all based on his conversation. He seemed to me to be very Pro Bitcoin probably because he and his goons spent the last three years setting everything up on Wall St to manipulate the bitcoin futures market. The last thing he wants to support as an excluded security is the one digital asset that will overtake BTC. That's just my take. Please don't send the hate mail, I'm not a professional "between the lines" reader.

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25 minutes ago, kryptoroi said:

Can someone rephrase this for me??? Based on what he's saying, 99.99 % of crypto will fall under securities since they all somehow raise money :( to advance their program/research/project and allow the coin to be sold on the secondary market! But since ripple and xrp are separate , I guess we're safe??

Yeah it's what I've been saying all along but I get ignored because I make sense.

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20 minutes ago, kryptoroi said:

Can someone rephrase this for me??? Based on what he's saying, 99.99 % of crypto will fall under securities since they all somehow raise money :( to advance their program/research/project and allow the coin to be sold on the secondary market! But since ripple and xrp are separate , I guess we're safe??

Almost certainly. XRP were already there, no ICO to raise Capital from investors for the creators to go off and create a Company/Product. The only issue XRP faces is around the Centralized/Decentralized issue. However, I believe David/Brad have recently said they have been working on this and suggested something might be in the pipeline.

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Posted (edited)

Just look between 4.00-4.25 to get the gist of the video

So the question is - Is XRP being sold to make returns on the efforts of an entitiy which promises profits by purchasing XRP?

 

 

Edited by Sarnos

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12 minutes ago, enrique11 said:

Yeah it's what I've been saying all along but I get ignored because I make sense.

You say XRP is a security. The interviewee never said which Altcoins are securities. All he said was what determines one.

I never gave Ripple money to produce returns for me. I invested in a digital asset independent of whether Ripple as a company exists or not. I won't state the obvious from here on that note...

Additionally, the former chair of the SEC is representing Ripple in the lawsuit related to this. I'm she sure knows more about securities than you and I, and she agrees that XRP is not a security. 

Go spread fud on the XLM chat board. 

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Posted (edited)
33 minutes ago, Mr_Cambridge said:

You say XRP is a security. The interviewee never said which Altcoins are securities. All he said was what determines one.

I never gave Ripple money to produce returns for me. I invested in a digital asset independent of whether Ripple as a company exists or not. I won't state the obvious from here on that note...

Additionally, the former chair of the SEC is representing Ripple in the lawsuit related to this. I'm she sure knows more about securities than you and I, and she agrees that XRP is not a security. 

Go spread fud on the XLM chat board. 

You still haven't figured it out after I made several posts on this. Xrp doesn't necessarily qualify as a security per se. It's how it's being used that makes it a security, and as long as Ripple keeps selling xrp it'll remain a security.

Edited by enrique11

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1 minute ago, enrique11 said:

You still haven't figured it out after I made several posts on this. Xrp is not a security per se. It's how it's being used that makes it a security, and as long as Ripple keeps selling xrp it'll remain a security.

yyyyeeeaaahhh, maybe leave that to the experts eh?

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I think the SECs main focus is on ICOs where their funding comes solely from token sales.  Ripple has private shares & was venture funded.

And do we think a former SEC chair would agree to represent Ripple in a law suit if they weren't ultra-confident XRP is not a security.

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6 minutes ago, enrique11 said:

You still haven't figured it out after I made several posts on this. Xrp is not a security per se. It's how it's being used that makes it a security, and as long as Ripple keeps selling xrp it'll remain a security.

Bank of America appears to disagree with you. Decisions, decisions:wacko3:, who should I believe?

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Posted (edited)
5 minutes ago, PG1 said:

And do we think a former SEC chair would agree to represent Ripple in a law suit if they weren't ultra-confident XRP is not a security.

People keep saying this, but I'm not sure this fact really matters. She's a lawyer now, her former relationship with the SEC is tangential, and the hiring is more a power-play on Ripple's part than anything.

All that matters is that the check is in the mail.

Edited by DanB

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