Ripple chairman: Washington lobbying has led to poor crypto judgements

[xrpmommy]

http://www.bobsguide.com/guide/news/2018/Oct/24/ripple-chairman-washington-lobbying-has-led-to-poor-crypto-judgements/

 

[enrique11]

lol..he's saying what I've been saying...the SEC gave BTC and similar the green light, and has been quiet on all other cryptos including ETH which they clarified recently that Hinman didn't speak for the SEC decision-making collective when he made positive comments about ETH, so they have basically given the biggest legal impetus for BTC's continued success and domination for a long time to come by helping greatly speed up its adoption by legally compliant institutions. Yes!!  The US SEC is responsible for this grossly negligent bullsh*t by singling out a particular crypto for SEC pass when they should have just kept their mouths shut and speak in general terms instead or if they're going to name names, they should have created a definitive list of altcoins by name that are currently acceptable to the SEC as non-securities post ICO phase!!  The SEC has to be aware of their own potential for market manipulation in having made a pro-BTC announcement and consequently giving the green light to financial institutions to begin preparations for all sorts of capital investments and financial products for BTC.

It's a great strategy too because it will keep altcoins' prices highly correlated to BTC's price for a long time to come as BTC's market dominace continues to stay strong around 50%+ and will only get worse as institutions with much more capital than the retail space start investing in BTC, so BTC as first-mover crypto gets traditional financial institutions as first-movers on BTC as well, making altcoin's long-term success much more dependent on BTC's success!!

No wonder a lot of the big wigs in the crypto space hold BTC in spite of some of them bad-mouthing it.  They know the SEC gave it a pass and that it's the first crypto in line to reap the huge benefits of this pass.

Edited October 25, 2018 by enrique11
additional comments

[RobertStrong]

Chris is SUPER level headed, if he says this guy has an agenda then I want to know exactly how much BTC he holds

[seasonal]

1 hour ago, xrpmommy said:

http://www.bobsguide.com/guide/news/2018/Oct/24/ripple-chairman-washington-lobbying-has-led-to-poor-crypto-judgements/

 

Sounds like Ripple has been out lobbied by Bitcoin. This is a key example of the rot in the US political system that has given us the worsening "issues" we have seen since the 1980's.

And knowing what we all know about the "good o'l by network" in Washington, if I were Chris Larson I would put my ash kissing lips on. No matter how right he may think he is, he is dealing with a Federal bureaucracy with always right  psychopathic leadership that in the end will always win. And do you know why? Endless paperwork, endless financial support for legal actions reinforced  by a slanted judicial system that ultimately will bring a nation wide fleet of Black SUV's and a small (and large) army of enforcers with cold handcuffs.

Kindness will go much further with the SEC than snarky comments, it's called "lobbying". Buy them houses, trips, narcotics  and women. After that Chris Larson maybe surprised how the SEC suddenly likes Ripple/XRP.

[enrique11]

It makes me want to trade in all my cryptos for BTC (I don't hold BTC - I don't like it.  There are much better cryptos out there.), and then wait 'til either Ripple or Stellar is about to skyrocket, and then dump it all for those two cryptos when they take off just to give 'see-saw' effect to BTC and help push its price down as much as possible as an individual investor. 

Once one crypto passes BTC, that's it!  BTC will never regain the same status as king of cryptos - it will be permanently tarnished and I believe then it will reflect it's true value, and no amount of "shilling" by the SEC or others, will keep it on the very top.

Edited October 25, 2018 by enrique11

[Yodaxrp]

9 minutes ago, enrique11 said:

trade in all my cryptos for BTC 

Don't forget Leo Melamed: We'll tame bitcoin!

[enrique11]

4 minutes ago, Yodaxrp said:

Don't forget Leo Melamed: We'll tame bitcoin!

Don't even know who that guy is, but that means that if "they" (Who are "they" exactly?) tame Bitcoin, then by extension because of BTC's dominance, they will tame altcoins, or more generally, they will tame the cryptospace.

Edited October 25, 2018 by enrique11

[Yodaxrp]

1 minute ago, enrique11 said:

Don't even know who that guy is

CME Group says something to you!?

[enrique11]

Just now, Yodaxrp said:

CME Group says something to you!?

Yeah, just didn't know that person. 

[bayarea510]

Shots fired. If I were larsen I'd make every damn effort to make sure xrp becomes the #1 cryptocurrency and then let fomo kick in and take us to the moon. It will be the best slap in the face to all the hardcore btc supporters.

[enrique11]

20 minutes ago, bayarea510 said:

Shots fired. If I were larsen I'd make every damn effort to make sure xrp becomes the #1 cryptocurrency and then let fomo kick in and take us to the moon. It will be the best slap in the face to all the hardcore btc supporters.

It's a good thing then that Ripple went to the source with the highest political authority, the Trump administration.  Let's see BTC lobby try that with Trump administration. lol

Ripple is more pro-USA than Bitcoin in various aspects.

Edited October 25, 2018 by enrique11

[bayarea510]

1 minute ago, enrique11 said:

It's a good thing then that Ripple went to the source with the highest political authority, the Trump administration.  Let's see BTC lobby try that with Trump administration. lol

Ripple has #moneyfordayzz they can do whatever the f they want and get whoever they want onboard their agenda. Just start gifting xrp from the warchest. That's what I would do lol.

[enrique11]

1 hour ago, bayarea510 said:

Ripple has #moneyfordayzz they can do whatever the f they want and get whoever they want onboard their agenda. Just start gifting xrp from the warchest. That's what I would do lol.

Yes, money talks...and Ripple has "American money" since it is an American company...the Trump administration will listen to Ripple long before they listen to Bitcoin because Trump admin wants America to succeed, and Ripple can help America much more than Bitcoin can...Bitcoin doesn't even help banks...it's supposed to be a replacement to them, but Ripple does.  What are the banking lobbyists doing, and central banks?  Anyone keeping track of that? 

Maybe they are planning their own surprise behind the scenes and the BTC people won't even know what hit them when Ripple finally shoots up past both ETH and BTC. 

The American political system came to the defense of the banks when they were threatened during the 2008 crash, and this is because banks agreed to very high level of regulatory compliance and costs in return for the governments having the banks' back in times of difficulty, so maybe they will have their backs once more if BTC poses a threat to banks. 

Chris Larsen is sorta out of the loop since he no longer works at Ripple. Wild speculation on my part, but I don't want BTC to stay #1 for a long time to come.  It doesn't make sense.

Edited October 25, 2018 by enrique11

[GiddyUp]

It really is getting a bit tiresome to hear the regulators complaining about the lack of regulation. It makes no sense...

“Fintech does not work unless you get the regulators and the institutions all in the same room to find some kind of common ground to make it all work.”

"Larson acknowledged that the US financial regulatory landscape is complicated, but also that “this is the best fintech regulatory environment ever. We should be accelerating as much as we can.”

[enrique11]

28 minutes ago, GiddyUp said:

It really is getting a bit tiresome to hear the regulators complaining about the lack of regulation. It makes no sense...

“Fintech does not work unless you get the regulators and the institutions all in the same room to find some kind of common ground to make it all work.”

"Larson acknowledged that the US financial regulatory landscape is complicated, but also that “this is the best fintech regulatory environment ever. We should be accelerating as much as we can.”

Maybe the SEC will be planning to make an announcement in the not too distant future, and then we'll see certain altcoins take off to reach values that are much more reflective of their true values.  The SEC has to know on some level that they're f&cking up. The question is, do they care, or is it politics as usual?

Edited October 25, 2018 by enrique11