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13 minutes ago, Troote said:

Yeah, people wake up in the morning and decide to go to the authorities, begging them to sue for hundreds of millions of dollars.

I've read it all lol

People are trying to find some kind of excuses , it's sad but I guess they try to stay positive with all that shit happening..

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I am not a lawyer, neither are most XRP holders.

Lot’s of posts regurgitating various numbered paragraphs from the allegations, and passing opinion.

One thing I do know is that without a career in Law it’s a waste of time for Laymen to reach conclusions on these allegations, they are written in legalese, the words mean something but it’s often very different in meaning to how we use those same words in normal English discussion.

It now boils down to, do I sell or Hodl ? based on the fact that I have no idea what the implications of the complaints are, I either jump ship or ignore it and wait for the often hoped for moon.

Crypto is nothing but a gamble IMHO, so I was in a crypto gamble last, year, last month, last week. 

I never bet more than I can afford to lose.

vast majority of XRP holders haven’t invested life changing sums, so just accept that your gamble may or may not be a dud.

I will keep my XRP, Buy more if it goes below 20c (while keeping an eye on the news) and see this through to the end of 2021.

 

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Well since I did not sell while in the green I see no point of selling in the red. And if I did sell I would probably rebuy at some point (we might even go sub 10c I believe). Anyway the way things are I will have to ride it through. The timing was the worst possible and even highly suspicious on par of SEC, just as things seem to be promising. Still I believe it is a fluid situation. Sure it could go completely down the drain, I will take the loss and survive. My investing horizon in crypto is 2027, so up to then I consider the money lost anyway and if some crazy pump happens it will be a lavish treat. It could have a positive outcome, there is new administration in US and SEC, there might be a resolution of the issue, XRP is declared not security and...boom!  It is a depressing situation no doubt, people freak out, the naysayers are in ecstasy. Everybody has his own view I guess and takes his chances, only time while tell.

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13 hours ago, Eric123 said:

i would be buying XRP with both hands at this price .273

You are experienced in this field and know how crypto works.   I have held my stake and like to see your optimism from old hands in this market.  My guess is that XRP has been damaged but it will still benefit from an Alt season, so my investment will eventually mature and make me money. 

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5 minutes ago, Fahimth14 said:

Just read this please. If you continue holding onto this bag you're a fool. You've been played. I sold earlier this year thank god. Here to warn you.

 

So what legal background does this gent have for you to listen like a sheep?

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11 minutes ago, Fahimth14 said:

Just read this please. If you continue holding onto this bag you're a fool. You've been played. I sold earlier this year thank god. Here to warn you.

 

Again, the whole case hinges on whether XRP is a security, in which case what Brad and Chris did would probably be illegal on some fronts. XRP, however, is not a security. 

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42 minutes ago, Eric123 said:

“XRP is a currency, and does not have to be registered as an investment contract,” Garlinghouse said. “In fact, the Justice Department and the Treasury’s FinCEN already determined that XRP is a virtual currency in 2015 and other G20 regulators have done the same. No other country has classified XRP as a security.”

I think what your looking for is in here

 

https://www.justice.gov/sites/default/files/opa/press-releases/attachments/2015/05/05/settlement_agreement.pdf

Quote

FinCEN already signed an agreement with Ripple Inc. allowing them to continue their XRP sales. If XRP is an unlicensed security then FinCEN now has to explain why they signed an agreement allowing the sale of said unlicensed securities. Never going to happen. XRP isn't a security

Quote

They have already bound the US Fed Government into a position where $XRP is a currency according to the agreed facts of the settlement. Something can’t be both a currency and a security. Subject matter jurisdiction of the agency doesn’t affect its ability to bind the whole govt.

 

Edited by pucksterpete
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55 minutes ago, Eric123 said:

Bitcoin has stabilized over $23k.  But the real story obviously is XRP.  Honestly I think traders took advantage of the SEC suit to crash the price and gobble up your XRP cheap if you sold.  If I'm right we will probably see a dramatic reversal with XRP's price rebounding significantly by Monday back to $ .40.  Like I said I'd be buying more myself if I had the ready cash, but my bags are full and I'm not selling any till $10 at a minimum.   

@Milly238 Yes I see XRP pulling through and having a bull market.

This tweet shows a fundamental misunderstanding of what the SEC is and the powers it has.   The SEC can only sue in civil court.  The Justice Department would have to bring a criminal case against the founders and they are not going to do that.   Check out this quote, article below. (though i'm not sure of the original declaration by the Justice Department and I'm giving Garlinghouse the benefit of the doubt here that it was declared)

“XRP is a currency, and does not have to be registered as an investment contract,” Garlinghouse said. “In fact, the Justice Department and the Treasury’s FinCEN already determined that XRP is a virtual currency in 2015 and other G20 regulators have done the same. No other country has classified XRP as a security.”

https://www.cnbc.com/2020/12/22/cryptocurrency-firm-ripple-expects-to-be-sued-by-the-sec-xrp-plunges.html#:~:text=“XRP is a currency%2C and,classified XRP as a security.”

 

If you are not familiar with Lawsuits you will get freaked out by Complaints as it seems many did.  If you are familiar with them you shrug your shoulders and say "is that all?  It's not a big deal". 

To me this is a slight hiccup and a buying opportunity, ALT season will still happen.  Also this has seemed to drag down the whole ALT market - IMO ETH under $600 is a good buy as well.   

12 24 2020.png

Eric123, thanks I always appreciate reading your thoughts and analysis. I 100% agree. This is a time to stay cool and calm. No one ever got rich from panicking. I believe this SEC news will pass and XRP will surge to new ATHs in 2021. And there will be a lot of people kicking themselves for selling now.

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