Epic Pennant on BTC Chart

[xrp_sea]

5 minutes ago, Fahimth14 said:

Are you guys not disturbed at all my how Ripple and Garlinghouse and Larsen acted? Does it not seem shady to you in any way shape or form?

You mean how they allegedly acted? Not a single thing has been proven. These are accusations brought forth by Trump nominated Jay Clayton. This administration has had a vendetta against crypto since day one. Think about the timing. 

[Gambaard]

11 minutes ago, Fahimth14 said:

I feel like anyone could say anything and it's classed as FUD on this site. Read every single tweet which is quoted directly from the SEC file. Are you guys not disturbed at all my how Ripple and Garlinghouse and Larsen acted? Does it not seem shady to you in any way shape or form?

How is Brad and Chris selling part of their holdings any different than Jed? If you've got billions of XRP, but you can't buy your groceries with them, wouldn't you sell part of your holdings? I really don't get the fuss. Is it a lot? Yes, definitely. Is it more than I expected? Not really. Would I complain if they sold more at higher price points? **** no, because I would be rich as well. And so wouldn't you. So all of you whining about Brad and Chris selling their XRP are hypocrites.

[WarChest]

10 minutes ago, Fahimth14 said:

I feel like anyone could say anything and it's classed as FUD on this site. Read every single tweet which is quoted directly from the SEC file. Are you guys not disturbed at all my how Ripple and Garlinghouse and Larsen acted? Does it not seem shady to you in any way shape or form?

Nope. Nothing seams shady that I have read.

It's maybe a lesson for some of the crypto purchasers here. Gambling in high risk assets will be an absolute rollercoaster.

It's not a movie where the clever kid buys $1K of something and wow it has gone up in multiples within a couple of years and he is now a millionaire, those opportunities are rare and fortunate if they happen.

For example Some of the biggest stocks in the world have crashed and disappeared forever leaving people out of pocket. The big professional money managers make money in this way, they don't get emotionally involved, nor disturbed, they buy and sell on their own judgement.

[mrhat75]

12 minutes ago, xrp_sea said:

You mean how they allegedly acted? Not a single thing has been proven. These are accusations brought forth by Trump nominated Jay Clayton. This administration has had a vendetta against crypto since day one. Think about the timing. 

Obummer's administration with Beijing Biden second in power had about six years to do something with crypto as well and didn't. 

It doesn't matter who is president for something like this. The bureaucracy is full of incompetent dipshits and malicious actors.

[Baka]

@Eric123 Are you still accumulating XRP?

[Gambaard]

2 minutes ago, mrhat75 said:

Obummer's administration with Beijing Biden second in power had about six years to do something with crypto as well and didn't. 

It doesn't matter who is president for something like this. The bureaucracy is full of incompetent dipshits and malicious actors.

16B total market cap in Jan '17 versus 650B now. This is just the dumbest comparison

[Julian_Williams]

22 minutes ago, Gambaard said:

How is Brad and Chris selling part of their holdings any different than Jed? If you've got billions of XRP, but you can't buy your groceries with them, wouldn't you sell part of your holdings? I really don't get the fuss. Is it a lot? Yes, definitely. Is it more than I expected? Not really. Would I complain if they sold more at higher price points? **** no, because I would be rich as well. And so wouldn't you. So all of you whining about Brad and Chris selling their XRP are hypocrites.

Actually it is unethical.

I do not like Jed selling either. 

[Gambaard]

2 minutes ago, Julian_Williams said:

Actually it is unethical.

I do not like Jed selling either. 

Why? Genuine question, I'm no troll

[DannyRipple]

Everyone is so adept at blaming Ripple leaders for selling but if that’s the case you might as well as throw away all of crypto. Which one of these assets aren’t investors/creators/developers/retailers looking to sell at some point. It’s dumb for people to play that game. That’s what the SEC would prefer that everyone panic sell and buy into their “gospel” when in reality the SEC is not the final decision maker in this market. Don’t be a bunch of weak hands. I’ve got multiple DAs and will continue to hodle in spite of these “claims”

[Eric123]

16 minutes ago, Baka said:

@Eric123 Are you still accumulating XRP?

I would be if I had the cash. 

[Julian_Williams]

11 minutes ago, Gambaard said:

Why? Genuine question, I'm no troll

I know you are not.  To be honest I had not thought about it very deeply before this incident, although I was always unhappy with Jed's unloading of stock and did already think that any founder should not be selling.

My View:  Simply there is a conflict of interest in their roles are owners and managers of Ripple Labs which basically (although they changed the name of the founding company and gifted them to Ripple) created the tokens, and the purpose for which the tokens are sold to the public.  The tokens are sold to the market as token that have a purpose, and through that purpose they will (hopefully) gain in value.  The purpose being as tradable assets on software built by Ripple Labs (and now other companies working on the XRPL).  The money, which has been created out of the sales, should be used to benefit the purpose of the tokens.  

The money from the sale of XRP should be used to create the environment in which the sold tokens will gain value.  So it is perfectly in order for the money to be put into the coffers of Ripple Labs for the building of the software.  Ripple Labs, as beneficiaries of the money from the sale of the tokens on the public markets, should then provide an audit showing the use of the money.  They can buy the services of software engineers, and pay their managers a million a year, set up market makers as long as it is properly audited ad done for the benefit of the buyer of the tokens.  

What has happened is that Chris and Brad, who are already paid to do a job and look after the wellbeing of the tokens sold in good faith to the public, have a second interest which is to sell their tokens at the highest possible price and keep the income.  It is an absolute conflict of interest they they have this huge reserve fund of off the books XRP gifted to them which is then not sold for the benefit of the ecosystem they are developing, and is in fact creaming money out off the markets they are there to develop and protect. 

There is also the issue of insider trading.  They can see the bad news and off load before the price tanks, or onload before a big positive report is published.

I do not think Brad and Chris are heinous people.  Crypto grew up in an unorthodox environment, and they were doing the same as many others in that market.  Probably not thinking about the conflicts of interest very deeply.  I think they should not be fighting with SEC.  They were offered a fine which was a way out.  It is time some more rules were put in place about how ICOs are managed, so in many ways I find myself on SEC's side in this argument.

Just my point of view. 

[AlejoMoreno]

36 minutes ago, Julian_Williams said:

I know you are not.  To be honest I had not thought about it very deeply before this incident, although I was always unhappy with Jed's unloading of stock and did already think that any founder should not be selling.

My View:  Simply there is a conflict of interest in their roles are owners and managers of Ripple Labs which basically (although they changed the name of the founding company and gifted them to Ripple) created the tokens, and the purpose for which the tokens are sold to the public.  The tokens are sold to the market as token that have a purpose, and through that purpose they will (hopefully) gain in value.  The purpose being as tradable assets on software built by Ripple Labs (and now other companies working on the XRPL).  The money, which has been created out of the sales, should be used to benefit the purpose of the tokens.  

The money from the sale of XRP should be used to create the environment in which the sold tokens will gain value.  So it is perfectly in order for the money to be put into the coffers of Ripple Labs for the building of the software.  Ripple Labs, as beneficiaries of the money from the sale of the tokens on the public markets, should then provide an audit showing the use of the money.  They can buy the services of software engineers, and pay their managers a million a year, set up market makers as long as it is properly audited ad done for the benefit of the buyer of the tokens.  

What has happened is that Chris and Brad, who are already paid to do a job and look after the wellbeing of the tokens sold in good faith to the public, have a second interest which is to sell their tokens at the highest possible price and keep the income.  It is an absolute conflict of interest they they have this huge reserve fund of off the books XRP gifted to them which is then not sold for the benefit of the ecosystem they are developing, and is in fact creaming money out off the markets they are there to develop and protect. 

There is also the issue of insider trading.  They can see the bad news and off load before the price tanks, or onload before a big positive report is published.

I do not think Brad and Chris are heinous people.  Crypto grew up in an unorthodox environment, and they were doing the same as many others in that market.  Probably not thinking about the conflicts of interest very deeply.  I think they should not be fighting with SEC.  They were offered a fine which was a way out.  It is time some more rules were put in place about how ICOs are managed, so in many ways I find myself on SEC's side in this argument.

Just my point of view. 

I think Brad and Chris should have paid the fine as well.

All employees of Ripple who were gifted XRP need to have their tokens Iocked up and restricted like Jed. I think the SEC is more so fighting the conflict of interest.

Ripple is acting in good faith now but the problem is, if they get a new CEO or management, then how can anyone guarantee they won’t be corrupt with how they handle XRP?

SEC still should have sorted this out way sooner, as in 5 years ago.

[Troote]

1 hour ago, Julian_Williams said:

I know you are not.  To be honest I had not thought about it very deeply before this incident, although I was always unhappy with Jed's unloading of stock and did already think that any founder should not be selling.

My View:  Simply there is a conflict of interest in their roles are owners and managers of Ripple Labs which basically (although they changed the name of the founding company and gifted them to Ripple) created the tokens, and the purpose for which the tokens are sold to the public.  The tokens are sold to the market as token that have a purpose, and through that purpose they will (hopefully) gain in value.  The purpose being as tradable assets on software built by Ripple Labs (and now other companies working on the XRPL).  The money, which has been created out of the sales, should be used to benefit the purpose of the tokens.  

The money from the sale of XRP should be used to create the environment in which the sold tokens will gain value.  So it is perfectly in order for the money to be put into the coffers of Ripple Labs for the building of the software.  Ripple Labs, as beneficiaries of the money from the sale of the tokens on the public markets, should then provide an audit showing the use of the money.  They can buy the services of software engineers, and pay their managers a million a year, set up market makers as long as it is properly audited ad done for the benefit of the buyer of the tokens.  

What has happened is that Chris and Brad, who are already paid to do a job and look after the wellbeing of the tokens sold in good faith to the public, have a second interest which is to sell their tokens at the highest possible price and keep the income.  It is an absolute conflict of interest they they have this huge reserve fund of off the books XRP gifted to them which is then not sold for the benefit of the ecosystem they are developing, and is in fact creaming money out off the markets they are there to develop and protect. 

There is also the issue of insider trading.  They can see the bad news and off load before the price tanks, or onload before a big positive report is published.

I do not think Brad and Chris are heinous people.  Crypto grew up in an unorthodox environment, and they were doing the same as many others in that market.  Probably not thinking about the conflicts of interest very deeply.  I think they should not be fighting with SEC.  They were offered a fine which was a way out.  It is time some more rules were put in place about how ICOs are managed, so in many ways I find myself on SEC's side in this argument.

Just my point of view. 

100% agree. And the fact that David Schwartz alledgedly refused to take XRPs and asked for a salary + Ripple shares instead of being paid in XRPs shows the dramatic difference in behaviour.

Edited December 24, 2020 by Troote

[Neurotoxin]

1 hour ago, Julian_Williams said:

I know you are not.  To be honest I had not thought about it very deeply before this incident, although I was always unhappy with Jed's unloading of stock and did already think that any founder should not be selling.

My View:  Simply there is a conflict of interest in their roles are owners and managers of Ripple Labs which basically (although they changed the name of the founding company and gifted them to Ripple) created the tokens, and the purpose for which the tokens are sold to the public.  The tokens are sold to the market as token that have a purpose, and through that purpose they will (hopefully) gain in value.  The purpose being as tradable assets on software built by Ripple Labs (and now other companies working on the XRPL).  The money, which has been created out of the sales, should be used to benefit the purpose of the tokens.  

The money from the sale of XRP should be used to create the environment in which the sold tokens will gain value.  So it is perfectly in order for the money to be put into the coffers of Ripple Labs for the building of the software.  Ripple Labs, as beneficiaries of the money from the sale of the tokens on the public markets, should then provide an audit showing the use of the money.  They can buy the services of software engineers, and pay their managers a million a year, set up market makers as long as it is properly audited ad done for the benefit of the buyer of the tokens.  

What has happened is that Chris and Brad, who are already paid to do a job and look after the wellbeing of the tokens sold in good faith to the public, have a second interest which is to sell their tokens at the highest possible price and keep the income.  It is an absolute conflict of interest they they have this huge reserve fund of off the books XRP gifted to them which is then not sold for the benefit of the ecosystem they are developing, and is in fact creaming money out off the markets they are there to develop and protect. 

There is also the issue of insider trading.  They can see the bad news and off load before the price tanks, or onload before a big positive report is published.

I do not think Brad and Chris are heinous people.  Crypto grew up in an unorthodox environment, and they were doing the same as many others in that market.  Probably not thinking about the conflicts of interest very deeply.  I think they should not be fighting with SEC.  They were offered a fine which was a way out.  It is time some more rules were put in place about how ICOs are managed, so in many ways I find myself on SEC's side in this argument.

Just my point of view. 

Agreed. You very well could make a case against them of insider trading and/or market manipulation. What would one do in their position, though? I think personally, I’d be afraid to sell because of all of these things. Even if you are benign about your selling, your actions could come into question at any time and if at any time your timing was a little off because of something or another that happened that you were unaware of (it happens sometimes), you could be left looking real bad, put under extreme scrutiny and end up with a lawsuit on your hands. Wow, there actually ARE some downsides to being filthy rich. Thank god I’m just above average (not really, I wanna be rich). 

[AlejoMoreno]

13 minutes ago, Troote said:

100% agree. And the fact that David Schwartz refused to take XRPs and asked for a salary + Ripple shares instead of being paid in XRPs shows the dramatic difference in behaviour.

That’s also the reason that David Schwartz is smart and I respect him a lot. He was very wise to de-risk and reduce his portfolio allocation to XRP. It’s a big conflict of interest.