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Breaking: Judge grants motion to look into SEC documents regarding BTC and ETH!


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3 hours ago, PunishmentOfLuxury said:

 

Thnx! Interesting and strong argument in the end about forcing the SEC in making hundreds of hours in document collecting if judge would dismiss Ripples fair notice argument in a few weeks. 

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13 hours ago, Julian_Williams said:

The maxis are irrelevant.  The people who Ripple want to parade in front of and impress are the fintech businesses and institutional investors

That's what I think as well. Banks are their primary audience. If they achieve to get clarity on the status of XRP it will open the doors to a global market WITH support from their home basis. Both are important. Maxis are just making some noise in the background.

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16 minutes ago, kanaas said:

That's what I think as well. Banks are their primary audience. If they achieve to get clarity on the status of XRP it will open the doors to a global market WITH support from their home basis. Both are important. Maxis are just making some noise in the background.

Maxis are also the majority in this financial world of banks and fintech businesses creating products. No one talks of XRP ETFs yet, and so on. They will, once the maxis have to take off their pink glasses.

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18 hours ago, Seoulite said:

The SEC will not want public disclosure of how they did backroom deals for btc and eth, which would not only be terrible for them but would probably trigger legal action that could severely damage the price of btc and eth. 

I have understood that SEC has never said that BTC and ETH are not securities. So they have not made any deal with them. There was one person saying they are not securities and he was working for SEC. Not the same thing. Another thing they go after Garlinghouse and Larsen. Why not after Jeb?

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1 hour ago, JBW said:

I have understood that SEC has never said that BTC and ETH are not securities. So they have not made any deal with them. There was one person saying they are not securities and he was working for SEC. Not the same thing. Another thing they go after Garlinghouse and Larsen. Why not after Jeb?

What the SEC alleges - to my understanding - is that the company and staff were/are using XRP to fund operations and to reward employees the same way as if it were securities. Jed, started selling when he wasn't an employee anymore.

Edited by kanaas
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3 hours ago, kanaas said:

Jed, started selling when he wasn't an employee anymore.

@JBW

Correct, Jed went rogue and intentionally (in bad faith) tried to sabotage the original public XRP holders.

Which is, I'm pretty sure, is exactly the kind of insider abuse of the issued Security's public market participants, that the SEC is supposed to protect the public from.

His behavior + the SEC's combine to "stink to high heaven". While BG & CL have captained the ship through turbulent waters, and sure they gained from their travails, whole causing more beneficial outcomes than harmful. 

Add to that, that Jed "IS USING FUNDS" from selling XRP, "TO FUND A COMPETITIVE BUSINESS". That is/should be a violation, its clearly acting in bad faith. I was on the phone with the Exchange operator at the time when Jed moved his first million. He didnt know it was Jed, and he did get a knock on his door from authorities. 

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23 hours ago, Seoulite said:

I mean Ripple also want this thing done right now. There’s very little that ripple can directly gain from embarrassing the SEC and crashing the price of ether and bitcoin

I don't know. You may be right, but I'd love to see the judge and Ripple looking into the whole thing, leaving no stone unturned and bringing everything to light. Price will be doing well, regardless. 

Edited by Danny
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22 minutes ago, Danny said:

I don't know. You may be right, but I'd love to see the judge and Ripple looking into the whole thing, leaving no stone unturned and bringing everything to light. Price will be doing well, regardless. 

I'm less concerned about when the case is resolved, and much more concerned about it being resolved appropriately, according to the facts of the situation.

If there are fines, ok whatever. As long as FinCEN over rules the SEC, then the goal of XRP and an IoV being created rests in the proper cradle.

I see no price gains for XRP if the whole crypto market crashes (BTC + ETH), but I also dont see those communities respecting laws, more thumbing their nose at the law.

So if something harmful legally occured, you would see an astroturfing campaign as big as the XRP FUD campaign, except it would be pushing "legality doesn't matter to BTC".

Mark my words, if the dynamics of this case make legal FUD for BTC, all social network support for BTC will go to 110%. They will tout how "governments dont matter anymore, because cryptography"... lol :vava: :spinlol:

But for all these years, "it mattered" for XRP, ok.

Which network's cryptography methods are secure aginst quantum computational power? Tick tock PoW crypto :focus: How long till access to an opensource quantum API is used to break PoW "mining"?

Edited by KarmaCoverage
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6 hours ago, JBW said:

I have understood that SEC has never said that BTC and ETH are not securities. So they have not made any deal with them. There was one person saying they are not securities and he was working for SEC. Not the same thing. Another thing they go after Garlinghouse and Larsen. Why not after Jeb?

Other people have pointed out connections between SEC people and organizations with a significant interest in the price of ether and bitcoin. Perhaps I’m too cynical, but I don’t think any institution where money and power are major factors is clean.

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Unable to attend this one... capacity constraint... I'll take that as a good sign, however, that so many are interested - a fact that cannot not be noted.

Does anyone have a transcript of this one?  I'd prefer, naturally, a recording, as the court reporter doesn't note tone or noises from dogs or kids... :)

(You know... "the important stuff")

ETA:  Ah, the judge has local rules that prohibit recordings.  Well, then...

Barring that, I'd prefer to have a representative at these proceedings, until the status of the asset(s) that I own are no longer subject to its outcome.

Reasonable accommodation, like having an ASL interpreter for the deaf.

Next, I'll want the ability to have that representative speak to aspersions made against the character and qualities of my asset(s) and defend them...

If this were in family court and some idiot from the government was suing an obstetrician for delivering a baby which is now an eight year old child...

Well, let's just say that there are some folks who'd "like a word" on that...

Especially where such a case might impact that child's future (and of any other children similarly situated), it's fair to say the adoptors are attached.

(And where a question of future custody of child, rather firmly attached.)

If the SEC insists on calling the kid useless, maybe it's best I don't hear...

That's probably the very sort of situation that prompted the "local rules."

 

Edited by NightJanitor
Rules of Engagement
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20 hours ago, kanaas said:

What the SEC alleges - to my understanding - is that the company and staff were/are using XRP to fund operations and to reward employees the same way as if it were securities. Jed, started selling when he wasn't an employee anymore.

I read somewhere that based on SEC regulation, if a security is not purchased in an IPO, you're not allowed to sell or resell it in any way, regardless of what contract and/or relationship you may have or have had with the company that issued it. Can anyone confirm this? 

Edited by Danny
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