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XRP sales are "negligible amounts compared to our other funding" says CTO


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6 minutes ago, Staigera said:

I don't know with you anymore have the feeling you like to discuss just for the sake of discussing. 

Oh yes that’s true.  I do like discussions.  I really like it when someone changes my opinion with solid arguments.

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Yes yes. All very natural and organic. An avalanche of new accounts created in a bear market that exclusively spread FUD, in the year XRP went from a great idea to launching ODL and enabling mill

No words @JoelKatz... Preparing the exit yet? 

I suggest you read Davids tweet again (with an open mind if possible).   The thread he commented on was about ICO's.  If you then look at what David said in the tweet highlighted above, he was ta

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30 minutes ago, Staigera said:

What are your believes of another Ripple employee leaving? 

Um, I don’t know what you mean?  In general there will always be some turnover...   that’s normal in any business with a significant number of employees.

People leave for all sorts of reasons...  I don’t think you should read much into that in general.  

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On 1/2/2020 at 9:38 PM, Tinyaccount said:

Um, I don’t know what you mean?  In general there will always be some turnover...   that’s normal in any business with a significant number of employees.

People leave for all sorts of reasons...  I don’t think you should read much into that in general.  

I know people come and go nature of business but itsn't Evan Schwartz an important employee. From what i read.

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1 hour ago, Staigera said:

I know people come and go nature of business but itsn't Evan Schwartz an important employee. From what i read.

Ah yes I heard about that after you’d asked...   in his case I think it might be interesting to see what he does next.  He was fundamental in the stand up of ILP but as others have said...  probably the most interesting architecting and coding is now already done.

Its very common for those types of devs to get something on its feet and then move on.   It is a very long bow to stretch his departure into something bad for XRP as some here (not you...  but some here) are trying to do.

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11 hours ago, Tinyaccount said:

Ah yes I heard about that after you’d asked...   in his case I think it might be interesting to see what he does next.  He was fundamental in the stand up of ILP but as others have said...  probably the most interesting architecting and coding is now already done.

Its very common for those types of devs to get something on its feet and then move on.   It is a very long bow to stretch his departure into something bad for XRP as some here (not you...  but some here) are trying to do.

I don't really think ppl are turning this into something bad i can understand that some might think it is not ideal for a company to lose two important players.

Nonetheless i don't think it is something bad myself either.

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5 hours ago, Sporticus said:

On January 15th Ripple's procedural motion to dismiss is being heard.

 

I am not hodling or betting on Ripple's lawyers specious arguments.  

 

Based upon Howey and this Plaintiff's well argued objection to Ripple's motion to dismiss, I have shorted XRP. 

 

 https://www.scribd.com/document/433524568/XRP-Plaintiff-Response-to-Ripple-s-Motion-to-Dismiss#from_embed

May there be a possible outcome that the court will decide that the Ripple cannot sell more XRP until is decided whether it's security or not?

Edited by Spartaksus
typo
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6 hours ago, Sporticus said:

On January 15th Ripple's procedural motion to dismiss is being heard.

 

I am not hodling or betting on Ripple's lawyers specious arguments.  

 

Based upon Howey and this Plaintiff's well argued objection to Ripple's motion to dismiss, I have shorted XRP. 

 

 https://www.scribd.com/document/433524568/XRP-Plaintiff-Response-to-Ripple-s-Motion-to-Dismiss#from_embed

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Hi @Sporticus, could you specifically name what changed in your view since you wrote XRP is not a security about a year and a half ago?

 

On 4/24/2018 at 2:19 PM, Sporticus said:

As a lawyer, who has worked in securities law, I am qualified to research and give opinions on whether XRP is a security.  In fact, early on both my wife, who is a law professor experienced in securities law, and I researched the XRP as securities topic thoroughly.   The definition of securities in the Act of 1933 nowhere comes near to including XRP as a security. There are no regulations or case law that remotely include an asset like XRP as a security.  XRP has been determined by an agency of the US Government as a commodity, as such, it is analogous to the status of an Apple.  Just because I buy an Apple at the supermarket does not give me an interest in the supermarket, the wholesaler or the Apple orchard.  Essentially, this is the conclusion we must reach if we are to accept Mr. Gensler, a bought off, washed-up bureaucrat’s,  shoot-from-the-hip nonsense.  Michael Arrington, who is likewise a securities expert, who actually understands XRP and Ripple,  has likewise given the opinion that XRP is not a security. Mr. Gensler is an ignorant FUDSTER slinging lies for the Beast-coin mafia. 

 

What exactly did you and your wife both miss when you "researched the XRP as securities topic thoroughly"? As I understand from your posts, you now believe that XRP was a security from the moment Ripple started selling it? Or did something change in the last year and a half?

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For the sake of the argument, if Ripple keeps saying that their XRP sales are negligible and that they don't need to sell XRP to operate then they should just stop sales all together so that people can stop beating this dead horse. If they are selling XRP then they must need to cash for something.

If they are selling the XRP as a means of distribution because they don't want to sit on them forever then they should just sell a fixed percent each month based on volume and then completely stop all of the OTC or other sales they are doing.(Not the hybrid of OTC and market selling game that they are doing now) If people need large sums of XRP "for whatever reasons not clearly disclosed yet" then make them get it from the market or other OTC sellers.

This doesn't need to be political or corporate circular talk. It doesn't need to be this smoke and mirror thing that companies love doing. Either they need the money from the XRP sales or they don't. Saying that it is "negligible" is circular smoke and mirror corporate political crap talk.

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2 hours ago, AlejoMoreno said:

For the sake of the argument, if Ripple keeps saying that their XRP sales are negligible and that they don't need to sell XRP to operate then they should just stop sales all together so that people can stop beating this dead horse. If they are selling XRP then they must need to cash for something.

If they are selling the XRP as a means of distribution because they don't want to sit on them forever then they should just sell a fixed percent each month based on volume and then completely stop all of the OTC or other sales they are doing.(Not the hybrid of OTC and market selling game that they are doing now) If people need large sums of XRP "for whatever reasons not clearly disclosed yet" then make them get it from the market or other OTC sellers.

This doesn't need to be political or corporate circular talk. It doesn't need to be this smoke and mirror thing that companies love doing. Either they need the money from the XRP sales or they don't. Saying that it is "negligible" is circular smoke and mirror corporate political crap talk.

Did you expect any other talk from a COMPANY. Lol.

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4 hours ago, Spartaksus said:

May there be a possible outcome that the court will decide that the Ripple cannot sell more XRP until is decided whether it's security or not?

I do not know if the Plaintiff's have requested a restraining order that Ripple stop selling XRP.  The judge could decide to stop the sell of XRP as securities in the absence of the request, but Ripple has already stopped selling and apparently pivoted and went to the legitimate means of raising capital from the market when it announced the $200 million raise from another Series offering.  In my view, Ripple has milked us in the  retail market to the point that the only way to recover,  would be to lock up and destroy the rest of any XRP they possess.  To sell tokens to fund a platform violates the SEC's no action positions in Turnkey Jet (April 2019)  and Pocketful of Quarters (July 2019). These are the current ethical standards and the 194 SCOTUS case Howey which the US District Court should  be using to apply to the securities characterization of XRP. I had personally hoped it would not be this bad because I have had quite a lot of money riding on XRP being a non-security.  But after reading Plaintiff's response and the lame excuses of Ripple's lawyers, I am impressed that Ripple is seriously wrong in their legal positioning. I am a lawyer and I practice securities law before  state securities regulators and the US SEC.  This is not advice, as I am an XRP hodler since 2016 and I am merely explaining my personal views and intent.

I am really disappointed with Ripple that they did not seek an SEC no action position from the beginning in 2013, which would have been the ethical thing to do, and instead they have continued to shill that XRP is not a security when that issue is not finally determined by competent regulatory authority and seeking the securities determination  has been steadfastly avoided by the corporation. I relied upon the truth of Ripple's  assertions and I along with many others have suffered losses as a result of believing them and XRP advocates here and on other social media have been Ripple's useful idiots. 

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