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Charting the course of XRP


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On 5/22/2021 at 4:33 AM, NightJanitor said:

Getting REAL tired of this "no recordings" local rule, which leads to having to rely on "Twitter interpreters" / live-bloggers...

Does anyone have an actual transcript of the last couple of hearings?  Locked out of one or two due to capacity constraint, couldn't make the last one, had a medical issue for this one...  Any transcripts from these would be *greatly* appreciated - maybe won't be such a horrible inconvenience once there's someone there actually representing XRP holders on the line...

available here :

https://www.crypto-law.us/document-library/

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4 hours ago, solid102 said:

Keep in mind for context this graph is specifically for the shorts on Bitfinex which does currently 64 million USD in XRP trade volume. While the number is big it only makes up 0.75% of the current daily volume. In order to get a much fuller picture we will need to get all the  rt positions n all the exchanges on at least the major ones.

Yes.  Great perspective.  The standout anomaly is that it didn't draw down during the latest crash.  That's got me wandering 

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5 hours ago, captainjack said:

Reminder to myself: Pick up some safemoon and doge at the bottom

Not sure if you're being serious lol

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12 hours ago, BarnBuilder said:

This is worrisome.  This has the hallmarks of big money using XRP as a BTC hedge.  They wont capitulate if its part of their BTC risk management strategy.  

Sorry for my limited knowledge but can you please explain the reasoning behind XRP being a BTC hedge? 

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Posted (edited)
8 minutes ago, 4Fingers said:

Sorry for my limited knowledge but can you please explain the reasoning behind XRP being a BTC hedge? 

There are a few requisites for being an effective hedge. Remember we are talking specifically about "xrp shorts" being taken out as a hedge NOT xrp itself. I guess the reason why XRP is being chosen is whoever is taking the short, believes XRP is severely overbought and that prices dips are likely to be more severe for XRP in comparison to BTC. Which, historically has been true. So the downward price action is more rewarding than say the downward action on BTC. Also, the reason why XRP is chosen is because is has A LOT of currency pairs, highly liquid, and a lot of volume.

Edited by NMNR
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1 hour ago, Neurotoxin said:

We’re already back over a dollar folks 😁 You can come out of your bomb shelters. 

Don't believe it!

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Posted (edited)
18 hours ago, Ripley said:

I think the SEC agrees. Unfortunately the coins would have to be securities for them to control it. Hope the new task force combining CFTC + SEC figures out an alternative way here. And even more complex is the fact that they may not be able to enforce it on blockchains with founders outside the U.S. and traded on DeFi.

...but they can certainly still, if the endpoints are regulated, maintain some level of operational insight/control --- right?

This is not a topic I've thought about, in depth - I made the mistake of assuming that we paid huge bureaucracies, full, brimming even, with the best and brightest the taxpayer's money can hire, who would sort these things out properly...

(I'm glad some people had the foresight to see that that might not exactly be the case - and that it might become one IF the best and brightest in government refused for 8+ years to provide clarity.)

I dunno... maybe the gov should just consult the folks with eyes toward innovation, opportunity, prosperity, security --- instead of trying to put them out of business?  I know it sounds crazy, but, sometimes, it's just:  "Who ya gonna call?" :this:

Edited by NightJanitor
Clarity, oddly, seems to travel with those who seek it - not those who refuse to provide it. (A strange property.)
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2 hours ago, Neurotoxin said:

We’re already back over a dollar folks 😁 You can come out of your bomb shelters. 

And we are dropping to 90ct atm! :shock:

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12 hours ago, Wolfaolyth said:

 Ok... first, thank you...  I'm just gonna go through this - at 4am - and pull some things out and make some comments - maybe I'll hit Submit Reply and maybe I won't.

Quote

MR. TENREIRO: Good afternoon, your Honor, this is Jorge Tenreiro on behavior of the Securities and Exchange Commission.

Ok, well, that's fun - I'm gonna guess he didn't really say that and that it wasn't a beautiful Freudian slip --- but I do suspect that the Court Reporter has picked a side... at least subconsciously. :)

[My eyes glaze over at Tenreiro's repeated arguments of "look, they doubted we'd handle this new thing properly - or that we'd do anything at all - or anything right - and that's their major sin your honor - and now we look bad - no fair!"]

[Bottom of pg 8, Tenreiro accidentally makes a fabulous argument FOR the granting of Deaton's amicus intervention...]

[Tenreiro goes on for pages about testing... testing my patience... making me want to see the results of his LSATs, too]

[Empathy kicks in, for Tenreiro, for a moment... he truly does not understand that these things are novel - like when an element gets created in a lab that hasn't existed before... the old rules do not apply - the guys in the lab know it - but, you know, it could be years before anyone figures out its properties or nature - but they definitely know that it's new - which is always a giant pain in the ass for the experimenal physicists - but the theoreticians just move on;  "taxonomy from here on out - what's next?  Need a new challenge - that was fun, though, right?  Anybody wanna go for a drink?"  Lawyers will never understand this - is there an analogous moment in law that maybe these folks would understand - without making them try to read Thomas Kuhn, which they probably also wouldn't understand / would have to trust?]

[I make it to pg 13 - I can't hear Tenreiro anymore; "they asked lawyers 'how are we going to explain this to lawyers!" - "that's clear evidence of guilt, your honor!" - go all the way, Jorge, tell the Judge they asked you guys, too, for 8 yrs!]

I'm going to read the rest of this... at some point... but not right now.  I'd like to enjoy some of my time on this Earth...

 

 

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Should have had went through 40k and at least touch 42k, instead, so far we cant even hold 38k.

If not change today/tomorrow, than expect funny weekends with ashes and tears.

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