The SEC has filed its Opposition to the Ripple defendants’ Motion to Compel the SEC to produce documents showing whether SEC employees were permitted to trade XRP and other digital assets.

[Valhalla_Guy]

18 minutes ago, Ripley said:

Concentration of wealth is not centralisation my friend.

That point is in process of being determined by….🤔

[Guest]

2 minutes ago, Valhalla_Guy said:

That point is in process of being determined by….🤔

In the context of blockchain, the control of consensus is what determines centralisation. In fact this is why there has always been an undue negative opinion about XRP. With almost all other crypto concentration is also centralisation.

Not with XRP, XLM, now Avalanche, Flare and a small set of other blockchains.

And even more critically, Ripple cannot sell more than their scheduled monthly escrow at a time. It’s not like they can dump 45B XRP tomorrow. They can only sell 1B per month. A single day’s XRP volume is much higher than that. They have lost the ability to “dump”. 

No such control exists with any other blockchain. All those other whales can dump any time they want. However much they want.

[brianwalden]

6 hours ago, Valhalla_Guy said:

Correct, but it is the first 50% of the standard.
The remaining 50% is the intent and methods of distribution.

It's not the intent of the distribution that matters. It's the intent of the token. Does XRP represent a share in Ripple's business efforts or not?

[JASCoder]

4 minutes ago, brianwalden said:

It's not the intent of the distribution that matters. It's the intent of the token. Does XRP represent a share in Ripple's business efforts or not?

If Apple Corp. were to go bankrupt, I believe as a shareholder, I'm entitled to my proportion of the remaining cash assets after liquidation of all property and settlement of all outstanding liabilities.

If Ripple Labs closed up shop, I would expect my XRP would NOT entitle me to the same. It would ONLY gain me what another trader would pay me for my tokens.

How can the SEC possibly prove the two are the same ?

o.O 

#NotALawyer 

[BillyOckham]

27 minutes ago, JASCoder said:

If Ripple Labs closed up shop, I would expect my XRP would NOT entitle me to the same. It would ONLY gain me what another trader would pay me for my tokens.

How can the SEC possibly prove the two are the same ?

o.O 

#NotALawyer 

It’s obviously NOT a security in any sensible use of the word but that doesn’t mean much.  What matters is what they can enforce.  
 

In this case it’s down to a court case and paradoxical results come on a not infrequent basis from law courts.

If you look at why the SEC exists and their mission…   this is so far off the reservation that it’s insane.  But that doesn’t matter.  What matters is what they can enforce.  And time will tell on that.

Talking sensibly about right and wrong here is pointless in my opinion.  Only legal manoeuvres matter now (or political ones…  but that’s a wild card).