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10 hours ago, dtpace said:

@Eric123 What is your opinion on how long this XRP lawsuit will last?

Likely that lawsuit first sees court in early summer most likely June month but the important thing is a summary judgement can be requested from Ripple lawyers from now till the end of proceedings the summary judgement could be requested on whether XRP is currently a security or crypto and if a summary judgement states it is a crypto we take off as the rest is just arguing illegal sales of XRP as it could be considered a security in its early years much like ETH for the first 4 years as there was little to no projects built on them for that period of time. 
 

I think it’s likely a summary judgement will be requested by Ripple but I would say it will be late in the discovery phase or early in the actual court proceedings. Just my opinion and I know you didn’t ask for mine so sorry. Watch Jeremy Hogan @LegalBriefs on YouTube if you’re interested in trial and dates he lays it all out very well and is himself a lawyer so understands the courts way more than any non lawyer could 

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Well guys for those of you that got in late 2017, this is what the beginning of a Bull Market feels like.  There will be ups and downs of course, but it will get much crazier with much higher valuatio

Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

23 hours ago, dtpace said:

@Eric123 What is your opinion on how long this XRP lawsuit will last?

A motion for summary judgment is usually not made until the end of discovery.  That being said - The SEC can stipulate that XRP as it is currently, is not a security, that could happen at any time.  

I don't think it goes to trial but I think the case lasts at least until the end of the discovery period which right now ends Aug 16 - note these discovery periods are often extended. 

@jMusic  I had to look up unix time.

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Third Day of Sideways movement from Bitcoin.  Hanging around $59k.  

10 year treasury is up to 1.723%

Dow is down 157     .48%

Dollar is up slightly .154% to 92

And bitcoin is up 2.43%

Gold is up slightly .14% to $1738

Correlation??  I don't see it.  

 

That's the great thing about bitcoin it is a hedge against inflation and a store of value - But it is that and much more.

    

 

3 19 2021.png

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3 hours ago, JASCoder said:

The beauty of unix time is the fact it's agnostic to timezones !

The good people at Greenwich of old would disagree with you...    it’s starts from a moment that is defined because of GMT.

So nowadays it’s UTC,  but the Brits got their international way (as they often did back then) when it was all being agreed a long rime ago.


So yeah...  agnostic now,  but it’s starting point is in reference to the Brits of yesteryear.  
 

/pedantic idiot mode off    :) 

 

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7 minutes ago, BillyOckham said:

The good people at Greenwich of old would disagree with you...    it’s starts from a moment that is defined because of GMT.

So nowadays it’s UTC,  but the Brits got their international way (as they often did back then) when it was all being agreed a long rime ago.


So yeah...  agnostic now,  but it’s starting point is in reference to the Brits of yesteryear.  
 

/pedantic idiot mode off    :) 

 

Good point there mate !

And I'm sure, somehow, Stonehenge is also involved.

Oh, and just a helpful tip...

https://www.faa.gov/about/initiatives/plain_language/articles/its 

:)  

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Bitcoin's sideways movement at $59k feels really good while we wait for that next move up.  

Based on the Discovery hearing it appears that what I wrote in my previous post  - about the SEC stipulating that 

21 hours ago, Eric123 said:

The SEC can stipulate that XRP as it is currently, is not a security

might be close to happening.  If the SEC designates that the SEC is not a security now - All the exchanges will resume trading, the lawsuit will take a back seat and XRP can catch up with the bull market.   I think this would put XRP back in 3rd place on Coinmarket cap at least or possibly even 2nd ahead of ETH  - and to do that XRP's price would need to move 2X-10x from where it is now. 

3 20 21.png

xrp.png

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36 minutes ago, Eric123 said:

If the SEC designates that the SEC is not a security now - All the exchanges will resume trading, the lawsuit will take a back seat and XRP can catch up with the bull market.   I think this would put XRP back in 3rd place on Coinmarket cap at least or possibly even 2nd ahead of ETH  - and to do that XRP's price would need to move 2X-10x from where it is now.

If this happens, I suspect we will see an inexplicable surge in the price before any news breaks publicly as insiders will do what insiders do !

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Here is a genuine question because I have never had to think about having A LOT of money in a bank account. I just have standard checking/savings account with a normal American bank. 

If the scenario were to occur that I was ready to cash out a crypto investment like XRP for high 6 or 7 figures (mind you that's just a dream still), and I'm on regular Cornbase. Do I just sell my XRP for USD, then start moving the USD into my bank account as Cornbase allows? Do you need more than just a regular checking/savings account to hold that amount of cash for a short term?

These are questions I thought about briefly back in 17/18 then just assumed I wouldn't have to think about them again. Is it fine to hold $1M in a bank account short term while you figure out what other type of accounts to move it into? I know there are plenty here who would have some advice. 

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You can hold any amount of money in a regular bank account, though in the US any deposits of >=$10,000 will be flagged and reported to the IRS. Repeated smaller deposits are also at risk of being flagged, eg. depositing $9999 every day for a week or two. If you will hold significant amounts for a while, it would be better to split it between multiple banks as the FDIC only insures $250k per bank.

You should consider moving to Puerto Rico before you sell your crypto to take advantage of their tax rates !

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53 minutes ago, RipMcGillicuddy said:

These are questions I thought about briefly back in 17/18 then just assumed I wouldn't have to think about them again. Is it fine to hold $1M in a bank account short term while you figure out what other type of accounts to move it into? I know there are plenty here who would have some advice. 

 

Check out this site.

 

 

https://americandeposits.com/brief-history-us-bank-failures/

Protecting Your Cash

It is important to keep an eye on this situation as it unfolds to be sure your deposits are safe. But the most important step you can take is to be sure all of your bank deposits are protected by FDIC insurance. As of this writing, every individual and business depositor at a FDIC member bank is insured up to $250,000 by FDIC insurance. This insurance is backed by the full faith and credit of the U.S. Government.

Protection for more than $250,000

If you’re fortunate enough to have more than $250k in cash for yourself or your business, you should be careful not to keep it all at the same bank. FDIC insurance only covers your cash up to the $250k limit per investor, per depository institution. This means that you can spread your money among many different banks to achieve FDIC protection on every penny. However, this creates a lot of work in managing multiple banking relationships, statements and reconciliations.

Thankfully, financial technology [fintech] has a solution. The American Deposit Management company has developed proprietary fintech that allows you to spread your cash among their network of hundreds of community banks to virtually unlimited FDIC coverage for your business cash. The best part is this all happens with a 10-minute application, a single deposit, and a single unified monthly statement. Our Marketplace Banking™ accounts also provide next-day liquidity on top of the MOST safety you can get for your cash. You get this all while keeping your current bank. It’s important for you to know that we’re not here to replace your bank, we’re here to enhance it.

If you need the MOST protection for yo

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2 hours ago, jMusic said:

You can hold any amount of money in a regular bank account, though in the US any deposits of >=$10,000 will be flagged and reported to the IRS. Repeated smaller deposits are also at risk of being flagged, eg. depositing $9999 every day for a week or two. If you will hold significant amounts for a while, it would be better to split it between multiple banks as the FDIC only insures $250k per bank.

You should consider moving to Puerto Rico before you sell your crypto to take advantage of their tax rates !

Someone else was talking about Puerto Rico as a place to save on taxes.  I dig some research and pulled up two sites...

 

https://www.forbes.com/sites/theyec/2020/06/08/how-entrepreneurs-can-save-on-taxes-in-puerto-rico/?fbclid=IwAR08ghDIMk7S0wEqmOzLMbYA4zBkipPxhMMe47VTNguxOR17f2sNuGmbz0o&sh=5e736fd4cfc1

 

https://www.youtube.com/watch?app=desktop&v=w4NWD7Mx0Cg&feature=youtu.be&fbclid=IwAR0TB63AoN-beI75wIHxnhyPy4SjkIleKje5KRtRicUBKCbe3QIz-EnBMro

 

Not sure how accurate these sites are, but also heard Portugal is tax friendly in regards top crypto as well.

 

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