Guest Posted December 23, 2020 Share Posted December 23, 2020 This is uncharted territory. Does anyone have any idea about the consequences for holding a security? I'm just trying to understand what happens next if Ripple completely loses this battle. The US government pretty much calls the shots here, and I don't know that Ripple will prevail. I'm not trying to spread FUD; I just want to have an idea about our options - for the ones like me who are stubborn enough to hold through this season. More specifically, what exchanges are setup to hold a "digital asset security"? Are there any legal consequences for those who bought it before it was labeled a security (assuming the SEC prevails)? Link to comment Share on other sites More sharing options...
Dario_o Posted December 23, 2020 Share Posted December 23, 2020 first of all, are you a US citizen? 43 minutes ago, Cambridge said: Does anyone have any idea about the consequences for holding a security? Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2020 Share Posted December 23, 2020 3 minutes ago, Dario_o said: first of all, are you a US citizen? Thank you for responding. Yes, I'm a citizen of the US. Link to comment Share on other sites More sharing options...
Karl Posted December 23, 2020 Share Posted December 23, 2020 1 hour ago, Cambridge said: More specifically, what exchanges are setup to hold a "digital asset security"? The term "digital asset security" is an undefined invention by the SEC authority. Usually meant for ICO based paper tigers on ERC-20 tokens with non-functional networks of their own. A classical "security" that fits the Howey test (Securities Act of 1933, Securities Exchange Act of 1934) is tradable on stock exchanges, like the NYSE. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2020 Share Posted December 23, 2020 1 hour ago, Karl said: The term "digital asset security" is an undefined invention by the SEC authority. Usually meant for ICO based paper tigers on ERC-20 tokens with non-functional networks of their own. A classical "security" that fits the Howey test (Securities Act of 1933, Securities Exchange Act of 1934) is tradable on stock exchanges, like the NYSE. Thank you for clarifying this. Please keep any information available coming guys. We can get through this. Link to comment Share on other sites More sharing options...
VanGogh Posted December 29, 2020 Share Posted December 29, 2020 On 12/23/2020 at 3:00 AM, Cambridge said: This is uncharted territory. Does anyone have any idea about the consequences for holding a security? I'm just trying to understand what happens next if Ripple completely loses this battle. The US government pretty much calls the shots here, and I don't know that Ripple will prevail. I'm not trying to spread FUD; I just want to have an idea about our options - for the ones like me who are stubborn enough to hold through this season. More specifically, what exchanges are setup to hold a "digital asset security"? Are there any legal consequences for those who bought it before it was labeled a security (assuming the SEC prevails)? I believe Coinbase is set up to hold and trade securities. Link to comment Share on other sites More sharing options...
LordAMV Posted December 29, 2020 Share Posted December 29, 2020 1 hour ago, VanGogh said: I believe Coinbase is set up to hold and trade securities. Then why would they announce that they're suspending XRP trading next month? Link to comment Share on other sites More sharing options...
Guest Posted December 29, 2020 Share Posted December 29, 2020 29 minutes ago, LordAMV said: Then why would they announce that they're suspending XRP trading next month? I've read that they are doing this as a precaution so they can eventually IPO. I'm not sure if that's the reason, but just sharing what I read. Link to comment Share on other sites More sharing options...
Daniel8 Posted January 9, 2021 Share Posted January 9, 2021 Personally I am TRYING to buy as much XRP as I can. Right now I am waiting on a ledger nano. I am 100% new to crypto. Generally I have been all out for gold/silver. But I went down the rabbit hole when I asked myself "what will the new world reserve currency be when the dollar collapses and is removed from its reserve status"? And that is when I found XRP. I believe that XRP is everything that is needed for it to be the next world reserve currency and thus it could be a VERY profitable venture for anyone left in when the music stops. The IMF and 1% of the 1% are seeking a new currency for the world. They do so every 40-50 years and we are due. Note- in the last 12 months the USA printed 25% of all dollars in existence. That is a lot of mass printing. Hence I'm not off base in thinking that the USD is on the brink of collapse. The question is what is the new reserve currency? XRP? LetHerRip 1 Link to comment Share on other sites More sharing options...
Dario_o Posted January 9, 2021 Share Posted January 9, 2021 33 minutes ago, Daniel8 said: XRP is everything that is needed for it to be the next world reserve currency Too much of it owned by few people. Can't be new global reserve currency. Nevertheless its price can raise for so many different reasons. JJJ2 and Tonnie 2 Link to comment Share on other sites More sharing options...
paym8 Posted January 10, 2021 Share Posted January 10, 2021 as the useful players in the network get funded over time the ripple owned xrp will decrease, yes? Link to comment Share on other sites More sharing options...
Guest Posted January 10, 2021 Share Posted January 10, 2021 6 hours ago, Daniel8 said: Personally I am TRYING to buy as much XRP as I can. Right now I am waiting on a ledger nano. I am 100% new to crypto. Generally I have been all out for gold/silver. But I went down the rabbit hole when I asked myself "what will the new world reserve currency be when the dollar collapses and is removed from its reserve status"? And that is when I found XRP. I believe that XRP is everything that is needed for it to be the next world reserve currency and thus it could be a VERY profitable venture for anyone left in when the music stops. The IMF and 1% of the 1% are seeking a new currency for the world. They do so every 40-50 years and we are due. Note- in the last 12 months the USA printed 25% of all dollars in existence. That is a lot of mass printing. Hence I'm not off base in thinking that the USD is on the brink of collapse. The question is what is the new reserve currency? XRP? XRP is currently meant to be used as a bridge currency between fiat currencies for cross border transfers. There's a lot of uncertainty and the hope is that the SEC will provide clarity. There's a lot of misinformation out there, so be careful with what you read and listen to. Link to comment Share on other sites More sharing options...
WarChest Posted January 10, 2021 Share Posted January 10, 2021 (edited) Will there even be a “next reserve currency” or will each nation have their own digital currency with a digital bridge currency (XRP hopefully) between them? Edited January 10, 2021 by WarChest Link to comment Share on other sites More sharing options...
JJJ2 Posted January 10, 2021 Share Posted January 10, 2021 (edited) 8 hours ago, paym8 said: as the useful players in the network get funded over time the ripple owned xrp will decrease, yes? At this pace, we need over 20years before the whole supply gets to the public, if release remains linear 200mnl /monthly as it used to be. But, if they get ODL work efficiently from a financial point of view, demand will increase faster. What I have understood here is that, the more liquidity, the more efficient ODL becomes. So this should prompt a synergetic effect. Edited January 10, 2021 by JJJ2 Julian_Williams 1 Link to comment Share on other sites More sharing options...
Daniel8 Posted January 10, 2021 Share Posted January 10, 2021 4 hours ago, WarChest said: Will there even be a “next reserve currency” or will each nation have their own digital currency with a digital bridge currency (XRP hopefully) between them? This is exactly what I mean. The USD is the worlds reserve currency or "bridge currency". Every country does not use it within themselves but for country to country trade. Mostly for buying oil and other commodities. Link to comment Share on other sites More sharing options...
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