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Charting the course of XRP


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30 minutes ago, xrp-nuke said:

Oh you meant Jed, I was thinking of Ripple. Assume XRP is security and US citizen owns it and trades as any other crypto, what are consequences for that for uneducated retailer?

Anyway wait and see.

If XRP is a security (or a "Digital Asset Security"), it seems only accredited investors are allowed to trade it. If this is true, it would imply that all US citizens that own XRP and that are not accredited investors (what you call "uneducated retailers"?) should never have been able to buy in the first place.

I wonder what these "uneducated retailers" would do and who they would turn against. Would they sue the SEC for killing the golden goose? Ripple for initiating an illegal sale of unregistered securities? Exchanges for facilitating the sale of unregistered securities?

The other question is how profitable XRP trading would be for US exchanges. I imagine that restricting trading to accredited investors would increase their administrative costs and substantially reduce their trading volume. Would such changes be worth it, or would they just delist/halt trading?

Something to think about.

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1 hour ago, Troote said:

If XRP is a security (or a "Digital Asset Security"), it seems only accredited investors are allowed to trade it. If this is true, it would imply that all US citizens that own XRP and that are not accredited investors (what you call "uneducated retailers"?) should never have been able to buy in the first place.

I wonder what these "uneducated retailers" would do and who they would turn against. Would they sue the SEC for killing the golden goose? Ripple for initiating an illegal sale of unregistered securities? Exchanges for facilitating the sale of unregistered securities?

The other question is how profitable XRP trading would be for US exchanges. I imagine that restricting trading to accredited investors would increase their administrative costs and substantially reduce their trading volume. Would such changes be worth it, or would they just delist/halt trading?

Something to think about.

From what you say, seems like exchanges are escape goats. SEC will say that we told you it risky, Ripple will bankrupt and will not have enough to repay but exchanges :D

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6 hours ago, buh said:

Jed sells via the XRP DEX into USD IOUs from Bitstamp. So the most likely explanation is that, considering yesterday's annoucments form Bitstamp on halting trading for americans, Jed cannot redeem those IOUs into real USD dollars from bitstamp. So i guess Jed is stuck while the trial is ongoing.

Wait a minute. I didn’t get the memo. I have a considerable stash in bitstamp. If I don’t sell by the 8th of Jan, I won’t be able to sell at all? I’ll have to withdraw into a private wallet and sell in some other exchange that does transact XRP for USD? Is Coinbase doing the same thing? 
 

Basically I am forced between selling by the 8th or withdrawing my zerps and holding onto an untradeable asset? Am I getting this right? 

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23 minutes ago, Neurotoxin said:

Wait a minute. I didn’t get the memo. I have a considerable stash in bitstamp. If I don’t sell by the 8th of Jan, I won’t be able to sell at all? I’ll have to withdraw into a private wallet and sell in some other exchange that does transact XRP for USD? Is Coinbase doing the same thing? 
 

Basically I am forced between selling by the 8th or withdrawing my zerps and holding onto an untradeable asset? Am I getting this right? 

Or at least holding in hopes that XRP doesn’t become a security.

I am shocked that they are stopping trading before the case is even decided.

 This case has damaged XRP regardless of what the outcome is. Chris and Brad should have tried to settle this behind the scenes.

I really feel the point of this case is to try to kill XRP and for someone to get payback for losing their money.

This case is basically all of the XRP FUD bundled into a package. 
 

This is very disappointing and reminds me why I’ve always said that I hate this market, regardless of how profitable it is.

 

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19 minutes ago, AlejoMoreno said:

Or at least holding in hopes that XRP doesn’t become a security.

I am shocked that they are stopping trading before the case is even decided.

 This case has damaged XRP regardless of what the outcome is. Chris and Brad should have tried to settle this behind the scenes.

I really feel the point of this case is to try to kill XRP and for someone to get payback for losing their money.

This case is basically all of the XRP FUD bundled into a package. 
 

This is very disappointing and reminds me why I’ve always said that I hate this market, regardless of how profitable it is.

 

What I don’t understand is why Bitstamp is deciding to cease trading XRP. They are based in Europe and this lawsuit is a USA matter. 

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56 minutes ago, Neurotoxin said:

Wait a minute. I didn’t get the memo. I have a considerable stash in bitstamp. If I don’t sell by the 8th of Jan, I won’t be able to sell at all? I’ll have to withdraw into a private wallet and sell in some other exchange that does transact XRP for USD? Is Coinbase doing the same thing? 
 

Basically I am forced between selling by the 8th or withdrawing my zerps and holding onto an untradeable asset? Am I getting this right? 

yes exactly. Sell by the 8th january or widthdraw.

 

Exchanges like any company have shareholders, and the worst thing you need, is volatility and uncertanty regarding an asset you hold/sell. I honestly just found it surprising thta bitstamp came earlier with this decision than coinbase or kraken.

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1 minute ago, pichkaro said:

Well bitstamp were always awkward and that is the main reason i use kraken and binance (got cex acc too but never used it). Their procedure to open my account took 3 weeks back in time.

Yeah when I opened up an account there around sept 2017, it had taken like a month to all be processed. I remember xrp was sub 20 and by the time I could finally buy, it was 25. 

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19 minutes ago, buh said:

I honestly just found it surprising thta bitstamp came earlier with this decision than coinbase or kraken.

I thought about this and the only logical explanation I could think of was that it would cause the least effect on price due to it being announced on Christmas Day.

Either that, or they are proactive and do not let their customer support get inundated with questions.

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1 minute ago, Flintstone said:

I’ve given up trying to understand all of the regulatory shenanigans in the states.

200.gif

Damn, that reminds me of the little penguins I had with weights inside of them. They were like little rounded cylinders with a heavy sphere inside of them and they would go down chutes (like the ones in playgrounds) in a controlled manner. Massive flashback. 

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