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Charting the course of XRP


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2 minutes ago, Baka said:

Made me laugh I don't know why :')

I guess I would have panicked too if I was from US , I would not feel safe having big bags of XRP and knowing that exchanges are halting/delisting XRP.

i was feeling fine thinking kraken would never delist.... ya panicking is an understatement. im taking all my money out of XRP and putting it into ammo. bullets are doubling in price 

Edited by patriot420
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4 minutes ago, patriot420 said:

i was under the impression kraken could still sell XRP even if it lost and hot listed as a security. wtf is going on?

Kraken has the license to sell securities, yes. But my understanding is that people may need to be accredited investors in order to buy securities. That means that even if Kraken can sell, you couldn't buy. Only a tiny portion of all investors, like 1 or 2%, would be legally allowed to buy. The extra requirements in terms of paperwork (during KYC you need to vet the buyers) and the drop in volume probably means it is not worth it. So they halt trading.

Edited by Troote
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36 minutes ago, Baka said:

Those who invested in BTC are the true winners compared to us , XRP holders.

BTC is the less risky crypto , but if you had hold since 3-4 years like I did with XRP , I would have made much much more.

 

I agree. That said, I’ve been holding XRP for 3-4 years too :) I booked significant losses  so all I can show for it is reduced taxes. And Flare :)

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14 minutes ago, Gorgalosk said:

Can someone explain what this? 
 

https://ripple.com/wp-content/uploads/2020/12/Ripple-Wells-Submission-Summary.pdf

 

Some kind of internal summary of their defense?

A Wells notice is how SEC formally informs companies that they are about to be litigated and that they have an opportunity to explain why that lawsuit shouldn’t be filed. It’s not mandatory for SEC to do it but they typically do send one.

This was Ripple’s response to that notice and, as you well know, SEC proceeded with the litigation anyway. 

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9 hours ago, Troote said:

Second, because even if Ripple loses the lawsuit and XRP is deemed to be a security, it could actually turn out to be the best thing that could happen to XRP. Sure, ODL would no longer be a viable product in the US. But the XRPL Foundation would just get more wind in its sails. It would also mean that XRP become the first a fully regulated product that receives the stamp of approval from the US government. It would be the first crypto-currency to inherit all the legal protections that come with securities. That might actually attract a lot of elaborate investors who still see crypto as a joke (which it is). I mean, I buy securities all the time and what's the problem with that?

Sorry, but if Ripple loses, it doesn't automatically mean XRP is deemed a regulated security. It would be an UNREGULATED security, isn't it? For it to be a proper security and attract all those benefits you mentioned, it will have to go through a whole lot of different processes. 

They could perhaps agree to a settlement wherein they burn all or majority of the XRPs that Ripple holds and pay penalties for any undue financial gains they made thus far. If that happens, I'm not sure if and how that would affect Ripple's ability to create liquidity all over. I always thought Ripple's ownership of a large amount of XRP is necessary for the growth of the ecosystem. If only there are proper rules set in place for its distribution, free or otherwise. On the positive side, if such a burning happens, the retail holders could see the value double, at least in the short run. 

TLDR: Complete uncertainty ahead! I continue to have 90% of my Crypto portfolio in XRP and will at least keep half of that until the SEC case outcome is here. The other half is for liquidation during any good opportunity that arise.

Edited by MalluJohn
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1 hour ago, MalluJohn said:

Sorry, but if Ripple loses, it doesn't automatically mean XRP is deemed a regulated security. It would be an UNREGULATED security, isn't it? For it to be a proper security and attract all those benefits you mentioned, it will have to go through a whole lot of different processes. 

They could perhaps agree to a settlement wherein they burn all or majority of the XRPs that Ripple holds and pay penalties for any undue financial gains they made thus far. If that happens, I'm not sure if and how that would affect Ripple's ability to create liquidity all over. I always thought Ripple's ownership of a large amount of XRP is necessary for the growth of the ecosystem. If only there are proper rules set in place for its distribution, free or otherwise. On the positive side, if such a burning happens, the retail holders could see the value double, at least in the short run. 

TLDR: Complete uncertainty ahead! I continue to have 90% of my Crypto portfolio in XRP and will at least keep half of that until the SEC case outcome is here. The other half is for liquidation during any good opportunity that arise.

Can a security be unregulated? Genuine question. I am no lawyer.

If XRP is a security, my understanding is that all the laws that apply to securities are immediately inherited by XRP. The good (protection) and the bad (restrictions). We would have full regulatory clarity as to what set of laws apply, don't apply, etc.

If XRP is a security, the likely is that the people who run validators may become the owners of the XRP Ledger and they may all become liable under security law. And Ripple is in trouble for selling securities without complying to security laws and e.g. registering the said sales.

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