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SEC lawsuit blindsided XRP investors? No, I really don't think so.


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12 minutes ago, SquaryBone said:

 

I've mentioned the fact that the FINCEN ruling doesn't have any real bearing on the SEC for years. It was always laughed at. I believe it was even mentioned in the FINCEN document itself. Yet they intentionally and knowingly disregarded this.

What strikes me though is the timing of this lawsuit. And not only that: allowing this to go on for many many years. I understand how it was seen as the SEC implicitly allowing it. It's not like XRP was some obscure coin. But yeah the SEC talking about BTC and ETH and not saying a word about XRP was a sign on the wall. How the SEC protects investors with this is still unclear though.

About the SEC trying to settle: we don't know if the terms were in any way reasonable or not.

About the move outside the USA: as everything in this cult this was seen as a good thing. Being cocky against the regulators always turns out great /s I don't know why Ripple said that. It was a stupid statement to make in every way. It was clear it's a bluff and meant to put pressure. But yeah they moved to Wyoming :p /s To me it was a desperate call to action.

The SEC lawsuit didn't even ask for XRP to be deemed a security. Still bringing no regulatory clarity. But Gensler of course will just drop the lawsuit the moment he gets the job.

There have been multiple statements over the years that were alarming (read: good news). Ripple has lost traction and it all started when Bob Way talked to people from SWIFT and told them what they were building with xCurrent (talking 2017 here when it was clear that SWIFT stole the idea and was launching SWIFT GPI). xCurrent was Ripple's main selling point to get onto Ripplenet and a stepping stone to xRapid/ODL. Then the 12 banks didn't happen (don't claim he didn't say it), ... And there were many more red flags (aka good news).

No US ODL volume anymore now. Luckily Ripple's success is not dependent on the US and we have all those other countries that are so eager to use ODL for massive volumes. Wait... they're (still) not using ODL?!?! Even while it's been deemed a currency there and has regulatory clarity?!?!  How odd. /s

Yet we still/again hear about XRP going to 10 000 to 35 000 $. :s

Makes me wonder why this forums is so divided in "moonbois" and "fudders". /s

Show proof that you have been saying the Fincen  ruling has no bearing on the SEC and show us where it is mentioned in the FINCEN document that it has no bearing on XRP security status.

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The SEC complaint was just as biased and uninformed as (nearly) every other expression from that dumpster fire.  Two days b4 the chair quit  ... One day before proposing exchanges get 5 years to

I disagree with this sentiment, because the SEC brought the lawsuit on December 22nd, and then the SEC leadership left the agency a few days later. They left a mess. Exchanges were left without a

I think you are all being a bit hard on @Archbob- what he wrote is basically right. We all knew that something like this was on the cards. The fact that ripple have been taking out adverts in the NYT

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2 minutes ago, solid102 said:

Show proof that you have been saying the Fincen  ruling has no bearing on the SEC and show us where it is mentioned in the FINCEN document that it has no bearing on XRP security status.

Nope, not going to waste time on that as I see you're already failing to read what I wrote (and a lot of members here have dementia). DYOR.

But thanks for your useful contribution.

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2 minutes ago, SquaryBone said:

Nope, not going to waste time on that as I see you're already failing to read what I wrote (and a lot of members here have dementia). DYOR.

But thanks for your useful contribution.

Hahahaha ok FUDster you are soo full of it and you know it. Just so you know in a grown up conversation when you make big claims the onus is on you to provide proof and backup to your claims otherwise all you have written is as good as bull bi-product.

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11 minutes ago, solid102 said:

Hahahaha ok FUDster you are soo full of it and you know it. Just so you know in a grown up conversation when you make big claims the onus is on you to provide proof and backup to your claims otherwise all you have written is as good as bull bi-product.

hahah :) not gonna fall for that one. I provide proof in my post history. I can waste my time looking for it, post it here, it'll be ignored and next topic the same will happen. Sometimes I do learn from my mistakes.

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35 minutes ago, solid102 said:

Hahahaha ok FUDster you are soo full of it and you know it. Just so you know in a grown up conversation when you make big claims the onus is on you to provide proof and backup to your claims otherwise all you have written is as good as bull bi-product.

If you agree on getting your account deleted, together with the mods agreeing to delete your account if I prove it I'd be happy to go look for the document though.

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3 minutes ago, SquaryBone said:

If you agree on getting your account deleted, together with the mods agreeing to delete your account if I prove it I'd be happy to go look for the document though.

I am not agreeing to anything. If you are willing to make big claims then you should always be able to back them up and if you can't then don't hide behind excuses like oh I ain't got no time.

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16 minutes ago, solid102 said:

I am not agreeing to anything. If you are willing to make big claims then you should always be able to back them up and if you can't then don't hide behind excuses like oh I ain't got no time.

Chickening out already :s What's wrong with DYOR? Or are you just watching youtube videos from ScamIAm, DigitalAssInvestor and NoDoubtAboutItComonIn-guy?

If there's no consequences then there's really no need to waste my time on it. I'll say it again and perhaps this time try to actually READ the sentence (perhaps word by word if that helps you comprehend):  I DON'T WANT TO WASTE MY TIME ON IT. I want to make time for it but I don't want to waste it.

This comes to mind:

giphy.gif

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Personally, I fully knew the risks of getting into XRP. I was (and I still am) confident of decision. Most investors who got into XRP I'm sure at some point thought - surely they won't start an enforcement after close to a decade

That said, the SEC had plenty of opportunities to communicate potential risk either directly or indirectly. Could they not have explicitly said that they haven't made a determination with a "be careful" message ? Or simply warn the exchanges ? Or disallow exchanges from listing unless a determination has been made? Or that tokens should be considered securities unless deemed otherwise ? Or if not determine tokens, at least point out characteristics of a possibly risky behavior - concentration of tokens, centralized consensus, concentration of development efforts, etc. and let the investors understand what they are clearly getting into.

It took, what, one month after the GME melt up for the SEC to warn investors ? 

 

Edit: From the Supreme Court (U.S.) -

220366834_ScreenShot2021-02-24at9_16_13AM.thumb.png.01bdfca393de44733fd84893e9e43e45.png

https://www.wiley.law/newsletter-4349

Edited by Ripley
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50 minutes ago, SquaryBone said:

Chickening out already :s What's wrong with DYOR? Or are you just watching youtube videos from ScamIAm, DigitalAssInvestor and NoDoubtAboutItComonIn-guy?

If there's no consequences then there's really no need to waste my time on it. I'll say it again and perhaps this time try to actually READ the sentence (perhaps word by word if that helps you comprehend):  I DON'T WANT TO WASTE MY TIME ON IT. I want to make time for it but I don't want to waste it.

This comes to mind:

giphy.gif

Yeah kiddo and I am glad I get to call you out on your BS so everyone knows your just here talking nonsense with no intent to back it up for whatever reason. Your willing to reply to me and find and post a gif of a cartoon made for edgy 13 year old yet you don't want to "waste your time" backing up your claims that says a lot about what you said previously. 

Maybe take a class or wacth a youtube video about how to debate and converse to better understand the basics in which adults talk.

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12 hours ago, RobertHarpool said:

The SEC complaint was just as biased and uninformed as (nearly) every other expression from that dumpster fire. 

Two days b4 the chair quit  ... One day before proposing exchanges get 5 years to adapt ... Public dissidence between commissioners ... Nope, nothing but incompetence or malice. 

So, yeah ... not blindsided at all in context of the administration as a whole. 

... 

Then you think the SEC was lying to me when they specifically told me in writing in 2019 that there was no such determination? 

I think the majority of the blame goes to Bitcoin Maxis. For deliberately spreading FUD about Ripple from day one ("It's not open source." "It's premined." "It's centralized." ... Their hit job articles or utter vandalism of public sources of information like Wikipedia. All out of insecurity for having a slow, expensive, clunky and environmentally distructive network. Thank goodness Yellen et al recognize what a waste "Proof-of-Anything" processing is. 

The huge number of factual omissions in that SEC filing of the network's operations and history demonstrate that the SEC had been fed propaganda from a adversarial entity. Shame on the SEC for being such tools. 

 

 

 

 

Do you have a copy of you asking the SEC this question? If so, send it to John Deaton on twitter. He’s collecting them and sending them to ripple for evidence. 

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7 hours ago, Rutski said:

 

Thanks for that. 

Unfortunately, I'm not a Twitter person. I made an effort to DM the SEC's email to him ... but I was unsuccessful.

I have zero interest in learning what black cats I need to wave around in Twitter to accomplish this. 

If Deaton contacts me we'll find some other medium to get it to him.

I think it is safe to say this aspect of the case is well in hand though. 

Edited by RobertHarpool
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20 hours ago, RobertHarpool said:

Thanks for that. 

Unfortunately, I'm not a Twitter person. I made an effort to DM the SEC's email to him ... but I was unsuccessful.

I have zero interest in learning what black cats I need to wave around in Twitter to accomplish this. 

If Deaton contacts me we'll find some other medium to get it to him.

I think it is safe to say this aspect of the case is well in hand though. 

Feel free to DM and I’ll see if I can connect you two. 

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