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Charting the course of XRP


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6 minutes ago, Ripley said:

I wonder whether SEC has jurisdiction here. Luna can be traded here and so the platform is under SEC jurisdiction even though the product at issue hasn’t been offered in the US ? That’s a pretty big leap.

That's the (multi) million dollar question. Sounds like Do's lawyers believe the SEC has overstepped their bounds on several fronts - and they are counter-suing claiming Lack of Fair Notice. 

If I we (the US) had a functional Congress, I'd put any amount of $ on them stepping in soon to provide clarity. Maybe they'll surprise us. But at this stage I'm not holding my breath on it . . .

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48 minutes ago, JoeBishop said:

That's the (multi) million dollar question. Sounds like Do's lawyers believe the SEC has overstepped their bounds on several fronts - and they are counter-suing claiming Lack of Fair Notice. 

If I we (the US) had a functional Congress, I'd put any amount of $ on them stepping in soon to provide clarity. Maybe they'll surprise us. But at this stage I'm not holding my breath on it . . .


As an outsider it appears to me that the US Congress couldn’t agree on which way is up,  far less agree on and pass a bill on crypto.

I think that’s the least likely thing to happen in the next couple of years.

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6 hours ago, Ripley said:

In that case, I’m glad that it is not related to PoS consensus itself. Thanks.

I wonder whether SEC has jurisdiction here. Luna can be traded here and so the platform is under SEC jurisdiction even though the product at issue hasn’t been offered in the US ? That’s a pretty big leap.

Mirror is offered in the US. It's DeFi, they don't KYC, anyone can use it. In my opinion synthetic stocks are clearly and unambiguously an SEC violation. Let's see how they're actually able to enforce it against a Korean company.

The unfortunate fact is that Ripple and it's executives are not well liked in the larger crypto world. Terra and Do Kwon are. This could become a cause for the crypto community as a whole to rally around. Even the dynamics are opposite. Ripple's strategy has been to build a legal fortress for nearly a decade now and wait for the siege to come. Terra is going on the offensive - it's a good narrative.

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So btc made a new ath last week, but xrp didn't came further than a louzy 1,15, so how much must btc go up to pull xrp to at least its one and only ath? And why did xrp go up to 1,90 in april when btc was around 63k and refuses to go up this run? It just makes no sense at all anymore. And we can't use the sec as an excuse because despite the case xrp showed that i could move to almost 2 dollars, so what the hell is going on here? Sabotage? I'm going to call the cops!

 

 

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XRP tends to move only when everyone else has moved, and for about 3-4 weeks uninterrupted with a solid 100% per week. Whenever we lift off from $1 and can get going for more than 2 weeks then shoot for $8-16 imo. I still have blue balls from April where I thought we’d go 50ct > $8 but nah that was just a tease. In hindsight we were too early on the bullrun as a whole, mostly because of Musk. We just got back to regular cycle speculation and math as per 2013/2017.
 

I guess if/when XRP starts to stall after 2 been green weekly candles then it’s not the run we’re after. We’re all waiting for the big one (month) here. I’m going to “week trade” from now on, whenever we hit a weekly +100% run that’s when I offload 25% of my stack. 

Edited by Benaoao20
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1 hour ago, brianwalden said:

Mirror is offered in the US. It's DeFi, they don't KYC, anyone can use it. In my opinion synthetic stocks are clearly and unambiguously an SEC violation. Let's see how they're actually able to enforce it against a Korean company.

The unfortunate fact is that Ripple and it's executives are not well liked in the larger crypto world. Terra and Do Kwon are. This could become a cause for the crypto community as a whole to rally around. Even the dynamics are opposite. Ripple's strategy has been to build a legal fortress for nearly a decade now and wait for the siege to come. Terra is going on the offensive - it's a good narrative.

I see. Thanks. I didn't realize Mirror is offered here. If Mirror is offered without KYC, it's going to be an issue. They may have started with the synthetic assets (only tZERO has approvals to offer them in the U.S.) but they may see the lack of KYC/AML + interest accounts on Mirror as offerings of investment contracts. Agree about it being difficult from a jurisdiction perspective, but they seem intent on pushing their boundaries.

Lubin and gang's strategy videos are all out in the open now, thanks to DigitalAssetInvestor, John Deaton and other folks. More will come out through discovery and summary judgement filings. People will realize what's what and that Ripple has really been a lot more transparent and non-hypocritical, that the executives were misunderstood. Frankly I am okay with Lubin and Vitalik trying these fund raising tactics and backroom dealing with the SEC. What I hate is them and some ex-Ripple executives turning around and throwing Ripple under the bus to prop up their own investments. 

I'm not worried about perception of Ripple and executives. Mostly because I don't care, but also because those perceptions don't matter to the lawsuit and ultimately I'm confident the they will prevail. Bill Gates was hated. Steve Jobs was hated. Bezos continues to be hated. The mob does what the mob does. 

Edited by Ripley
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I hadn't seen the Terra news, but it's an interesting development. Kind of frustrating because I do believe that there is a constructive role for regulators to play in the development of the crypto industry and helping reach its potential. But I am not seeing the SEC approach it with much vision.

When it comes to foreign companies operating here, the SEC can regulate their US-based entities and also win court rulings against the home company. However, they can't enforce anything overseas without cooperation of the home government of the entity. That's been the standoff between the US and Chinese regulators over financial records for Chinese companies listed in the USA. Blockchains obviously don't fit neatly into national borders, especially if they are truly decentralized. I'm assuming that the most that could be achieved is a win against a blockchain foundation or the developer company that has been subcontracted to tech work. However, that might not accomplish much if the chain is no longer under the governance control of the body. 

I guess that the next option for a regulator would be to focus on how to make use of the chain difficult for your own citizens. China maybe is an early insight into what that might look like. Don't allow financial institutions to knowingly participate in fiat on/off-ramps, change your tax codes in frustrating ways, etc. 

 

 

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More ODL - https://ripple.com/insights/ripple-continues-to-build-momentum-in-mena-with-first-on-demand-liquidity-deployment-in-middle-east/

Pyypl’s (pronounced ‘People’) presence -

image.thumb.png.223be77ccf00966b5be3525e68acd8cd.png


Also see https://finance.yahoo.com/news/ripple-pyypl-debut-first-market-050000291.html

Note the comment about XRP and UAE. Building fiat corridors is a slow grinding process but once they’re built, it’s becomes a moat.

Finally, it looks like they recently opened shop in India. If Ripple can pull off a corridor to India (INR), that would be the holy grail.

Source: 

 

Edited by Ripley
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4 hours ago, RussianStandards said:

Very welcome news. When will these small partnerships really have an impact on volume, not price (yet) but volume I wonder. 
 

The aim of the game is liquidity after all, where there is that there is value.

Very little impact on price, at least directly. But as real utility starts flowing through the platform (XRPL), a price floor is established; this payments flow will attract more applications and utility.

TLDR; today Shib and Doge can go to zero but XRP cannot. It could go down a lot, sure, but not to zero as long as real world payments are flowing.

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