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Netburn piles the pressure on SEC


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Seems like the SEC played a really sneaky (but completely obvious) trick by holding off on these documents. Super happy that Ripple caught it first and then Judge Netburn saw straight through their shenanigans. 

This case is starting to **** me off now though. I'm seeing more and more mention of the impending trial in the letters filed. So not sure if that's Ripple just leveraging their case to work out a better settlement or if this is really going to trial. Could be looking at almost another year of this if that is the case. 

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1 hour ago, RipMcGillicuddy said:

The ******* SEC knew that they were going to lose this. They will go to trial just to allow JPM and Consensys to win this race. This country is starting to make a lot of enemies out of its own citizens I'm telling you. 

I'm also really pissed at all of this, but I'm not sure that's what is happening here. Either way, Ripple is still making great headway, so their 'plan' isn't exactly panning out.  

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1 hour ago, RipMcGillicuddy said:

The ******* SEC knew that they were going to lose this. They will go to trial just to allow JPM and Consensys to win this race. This country is starting to make a lot of enemies out of its own citizens I'm telling you. 

I don't think ETH is winning the race.  They are stuck with their PoW model until ETH2 is launched, at which point they reach a new start line that is probably behind ADA and DOT.   FLR  is going to swipe a lot of their present business onto the XRPL and JPCoin is not really that smart competitor to Ripplenet.  Ripple have ISOS20020 status and are developing their rails all over East Asia into the middle East, Africa and S America. 

I am sure smart money is accumulating XRP and quite happy for the price to be low whilst they gain bigger and bigger bags for the day when tokenisation of finance takes off for real.

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1 hour ago, Julian_Williams said:

I don't think ETH is winning the race.

As much as I want to agree with you here, they are actually lapping the field. Aided of course by that slip of paper they put in their pocket pre-ICO and then Hinman's guidance. 

All of it is just turning sour on me. Sick of getting burnt by playing by the effing rules while the cheaters **** on graves. 

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1 hour ago, Julian_Williams said:

I don't think ETH is winning the race.  They are stuck with their PoW model until ETH2 is launched, at which point they reach a new start line that is probably behind ADA and DOT.   FLR  is going to swipe a lot of their present business onto the XRPL and JPCoin is not really that smart competitor to Ripplenet.  Ripple have ISOS20020 status and are developing their rails all over East Asia into the middle East, Africa and S America. 

I am sure smart money is accumulating XRP and quite happy for the price to be low whilst they gain bigger and bigger bags for the day when tokenisation of finance takes off for real.

Ethereum has the advantage of its huge network effect. It is going to be a big presence for a long time, just like Bitcoin. We're witnessing a whole bunch of smart networks coming into bloom. They will grow and grow the overall amount of funds in DeFi, but I don't think we're going to see an Ethereum killer anytime soon.

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3 hours ago, RipMcGillicuddy said:

Seems like the SEC played a really sneaky (but completely obvious) trick by holding off on these documents. Super happy that Ripple caught it first and then Judge Netburn saw straight through their shenanigans. 

This case is starting to **** me off now though. I'm seeing more and more mention of the impending trial in the letters filed. So not sure if that's Ripple just leveraging their case to work out a better settlement or if this is really going to trial. Could be looking at almost another year of this if that is the case. 

Not sure why you seem so pessimistic on this. This ruling is fantastic news.

I was concerned that judge netburn won't order the sec to provide additional documents if the already reviewed docs she received (i assume she already started with reviewing?) didnt provide any meaningful weight to this case in her eyes. But now to me it seems to be the opposite. 

This ruling potentially brings gold to the fair notice defense and highers the chances of a win at summary judgement (which is within this year)

Also as mr hogan laid out that its likely that this case gets split up to xrp in the open market and larson/garlinghous/ripple's sales in a certain period of time. 

Hogan says he believes the first thing being resolved is most likely the question of if xrp is currently a security in the open markets. Larson and garlinghouse still could need to fight it out in court

 

Edited by VanHasen
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The headwinds that Ripple have faced have been impressive. The thing is, here you have a 150ish year old banking dynasty in JPM and they are struggling fighting and throwing everything they can muster at some 9 year old child of a company.

That's not a good look for JPM, if they are supposed to be the knowledgeable in charge powerhouse. Why bother with this child start up?

The truth is, (I have a video coming on nerwork topology) JPM is playing a different game, and Ripple is redefining the topology of the game with IoV. JPM is accustomed making even big players play on their field. Ripple & IoV is making JPM and their ilk play on the IoV battlefield.

No difference than Uber & Taxies, Google & Fbook & the Madison Ave Ad companies, the list goes on industry after industry. I can't for the life of me understand how these big time executives don't see the pattern of topology change.

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Posted (edited)
3 hours ago, brianwalden said:

Ethereum has the advantage of its huge network effect. It is going to be a big presence for a long time, just like Bitcoin. We're witnessing a whole bunch of smart networks coming into bloom. They will grow and grow the overall amount of funds in DeFi, but I don't think we're going to see an Ethereum killer anytime soon.

You are basically saying ETH is not a house of cards, it has deep roots and history of innovation.  I get that.  

This is interesting to watch

This is how I see it developing:  Going into the future I think ETH and BTC have very serious problems.  Their tech is basically full of friction (in the sense DS uses the word) and competitors are not looking to compete with ETH and BTC, they are setting out to outflank them.  The response from ETH and BTC so far has been to bury their heads in the sand and say we were the first innovators and we are the biggest and we own the market, as long as we go on developing our products and have the most powerful friends we will go on holding our positions.  Lubin is a wheeler dealer, not a strategic thinker.  

The world does not reward businesses with unresponsive rudderless leadership.   Sometimes they just get shot out of the water, like  Kodak, other times they simply fade.  I would think ETH and BTC will fade slowly at first and then when adoption comes their tech will be irrelevance and get left out.

Edited by Julian_Williams
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8 minutes ago, Julian_Williams said:

The world does not reward businesses with unresponsive rudderless leadership.   Sometimes they just get shot out of the water, like  Kodak, other times they simply fade.  I would think ETH and BTC will fade slowly at first and then when adoption comes they will be irrelevant and get obliterated by events.

Once the big investors who have been sabotaging XRP realize they are not going to win because the public will not stop exposing them, they will run the price of BTC and ETH up or at least look for an opportunity to sell. Some will go down with the ship. Some will invest in the likes of XRP and others, causing the leaderboard to flip, as it should have long ago. I simply wish other countries, such as Japan, would speed the process up!

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The real risk from Judge's latest order on SEC is the potential Perjury.

Once Judge netburn reviewed those documents and find out that SEC has been lying to the court and disrupting the judicial process. This will result in serious consequences.

Now we will just stay our eyes closely on SEC to see how much pressure and risk she can take and how far she is willing to go in this fight.

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4 hours ago, StanleyXRP said:

The real risk from Judge's latest order on SEC is the potential Perjury.

Once Judge netburn reviewed those documents and find out that SEC has been lying to the court and disrupting the judicial process. This will result in serious consequences.

Now we will just stay our eyes closely on SEC to see how much pressure and risk she can take and how far she is willing to go in this fight.

Netburn's insistence that SEC explain the grounds of why SEC claimed entitlement these documents are privileged seems to confirm your conjecture.  This defiance is high risk not only in the Court of Law but also in the Court of Public Opinion.  Deaton really is hitting it out for the common man and woman against institutional bias, hubris and entitlement. 

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On 10/8/2021 at 2:54 PM, Julian_Williams said:

Judge Netburn Orders the SEC to submit for in camera review the two documents related to the SEC's meetings with law firms and the email chain concerning discussions with a third party who received guidance from the SEC to analyze its digital asset under the framework set forth in Hinman’s June 14, 2018 speech

If this turns out to be true judge netburn will see the proof of hinman lying under oath. 

Cant emphasize enough how big this feels to me. 

Edited by VanHasen
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