For those still holding XRP after this season

[Guest]

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)?

[Dario_o]

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?

 

[Guest]

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. 

[Karl]

 

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.

[Guest]

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.

[VanGogh]

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. 

[LordAMV]

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?

[Guest]

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. 

[Daniel8]

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?

[Dario_o]

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.

[paym8]

as the useful players in the network get funded over time the ripple owned xrp will decrease, yes?

[Guest]

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. 

[WarChest]

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

[JJJ2]

 

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

[Daniel8]

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.