HAL1000 Posted October 14, 2021 Share Posted October 14, 2021 CryptoPitbull, Alluvial, jlr and 3 others 4 2 Link to comment Share on other sites More sharing options...
RipMcGillicuddy Posted October 14, 2021 Share Posted October 14, 2021 ew gross. Just break it to me easy Hal. HAL1000 1 Link to comment Share on other sites More sharing options...
Julian_Williams Posted October 14, 2021 Share Posted October 14, 2021 It is unlikely SEC would let the judge get so far as making a judgement on whether or not allow the "fair notice defence", because she has already indicated she is leaning towards allowing it. Once that cat is allowed out of the bag it would become a precedent available to everyone SEC attacks to point to. My guess is SEC want to settle and Ripple are holding them up. This case has been a disaster for SEC because it has exposed them to the Fair Notice defence, and all the revelations about corruption that have come from researching that defence. Fair notice reversed the tables and put SEC in the dock Live4xrp, woodman_73, djdhrubs and 1 other 4 Link to comment Share on other sites More sharing options...
VanGogh Posted October 14, 2021 Share Posted October 14, 2021 How would it make our xrp useless? The rest of the world isn't ruled by the US SEC. If you self-custody there is bound to be some exchange, somewhere in the world who would enable one to sell their xrp. The rest of the world does see its usefulness. woodman_73, xrpmommy, Ramforinkas and 6 others 8 1 Link to comment Share on other sites More sharing options...
brianwalden Posted October 14, 2021 Share Posted October 14, 2021 I went back up and found that forum thread that's in the video because it didn't sound like what I remember the types of things DS would say back in the day. I hope the SEC brings this weak sauce to court because Ripple's lawyers will tear it apart. They took the quote completely out of context. https://bitcointalk.org/index.php?topic=148278.40 His previous comment was: Quote I think we've been pretty clear that we are not making any promises to manage XRP as a currency with any particular target value. The XRP that OpenCoin holds will be given away as OpenCoin thinks is appropriate to drive adoption or sold as OpenCoin thinks is appropriate for its financial needs and interests. We absolutely make no promises or representations about the value of XRP to the world in general. And then when asked if XRP was just a postage stamp, he replied: Quote As a corporation, we are legally obligated to maximize shareholder value. With our current business model, that means acting to increase the value and liquidity of XRP. We believe this will happen if the Ripple network is widely adopted as a payment system. We are pursuing multiple avenues at once. One would expect increased demand to increase price. The shareholders he's talking about are the shareholders in OpenCoin (Ripple). He said in the previous comment that they make no promises about XRP. But what he is saying that they expect that increased XRPL usage will lead to increased XRP demand which should increase the price (simple supply and demand). Ripple owns a lot of XRP and therefore doing things that increase XRPL usage is one obvious strategy for fulfilling its obligations to its shareholders. I think this court case is going to come down to two arguments. Ripple is going to claim that XRP is not in principle a security - Ripple has no obligations to XRP holders and anyone can build on the XRPL and even put forth proposals to change the ledger itself. This is true. The SEC is going to argue that Ripple is in fact the party who has the most influence over the price of XRP. This is also true. VanGogh, jbjnr, Julian_Williams and 6 others 8 1 Link to comment Share on other sites More sharing options...
RipMcGillicuddy Posted October 14, 2021 Share Posted October 14, 2021 I don't want to go to trial. Maybe Ripple does, but damnit I don't want that. And I don't mean because of the timeline. I just mean I wouldn't trust a fair process. VanGogh, DannyRipple, AsYouWere and 1 other 4 Link to comment Share on other sites More sharing options...
RikkiTikki_is_Back Posted October 14, 2021 Share Posted October 14, 2021 (edited) 1 hour ago, Julian_Williams said: It is unlikely SEC would let the judge get so far as making a judgement on whether or not allow the "fair notice defence", because she has already indicated she is leaning towards allowing it. Once that cat is allowed out of the bag it would become a precedent available to everyone SEC attacks to point to. My guess is SEC want to settle and Ripple are holding them up. This case has been a disaster for SEC because it has exposed them to the Fair Notice defence, and all the revelations about corruption that have come from researching that defence. Fair notice reversed the tables and put SEC in the dock I agree because it's simple if the SEC takes a loss they loose big time meaning it will be hard for them to go after any other entities in this space without having roc solid evidence and a bases to win because all will be judged by the outcome of the SEC vs Ripple. If both parties come to a settlement The SEC can literally give ripple and xrp clarity and go after other based on individualized scenarios, which I am sure any smart legal team on the business end of an SEC suit will defer to the ripple case but this makes it less cut and dry and for those who can't afford a long drawn out battle with the SEC will more than likely seek settlement. I have said it before this is nothing more than a shake down from the Government. In this case they didn't anticipate the fight they would get from the community but they know others won't have that much fight in them. This is where they find out what they can and can't get away with!! A settlement would not be good for other digital assets on the other hand a trial and a win would be. as Gensler has said he thinks over 90% of this space can be deemed a security, that alone leads me to believe they are going to settle and go after everyone else with the exception of these two BTC, ETH. Crypto needs to band together as a whole to lobby congress to put an end to the SEC's Judge, Jury and executioner style tactics when it comes to crypto Edited October 14, 2021 by RikkiTikki_is_Back woodman_73, Live4xrp, Julian_Williams and 1 other 4 Link to comment Share on other sites More sharing options...
Danny Posted October 14, 2021 Share Posted October 14, 2021 (edited) 1 hour ago, brianwalden said: I think this court case is going to come down to two arguments. Ripple is going to claim that XRP is not in principle a security - Ripple has no obligations to XRP holders and anyone can build on the XRPL and even put forth proposals to change the ledger itself. This is true. The SEC is going to argue that Ripple is in fact the party who has the most influence over the price of XRP. This is also true. One could argue that BTC has had more influence over XRP's price than Ripple has. Edited October 14, 2021 by Danny RikkiTikki_is_Back, JASCoder, VanGogh and 5 others 8 Link to comment Share on other sites More sharing options...
VanGogh Posted October 14, 2021 Share Posted October 14, 2021 1 hour ago, brianwalden said: The SEC is going to argue that Ripple is in fact the party who has the most influence over the price of XRP. This is also true. Other than the SEC and their cronies, that is. woodman_73 1 Link to comment Share on other sites More sharing options...
VanGogh Posted October 14, 2021 Share Posted October 14, 2021 (edited) Regarding the usefulness of xrp outside of the US: Bombshell! France Finance Minister Declares Independence from the US! Dollar death, Inflation coming Edited October 14, 2021 by VanGogh Julian_Williams 1 Link to comment Share on other sites More sharing options...
brianwalden Posted October 14, 2021 Share Posted October 14, 2021 15 minutes ago, VanGogh said: Regarding the usefulness of xrp outside of the US: Bombshell! France Finance Minister Declares Independence from the US! Dollar death, Inflation coming This is like that Building the Future of France meme but in real life. Link to comment Share on other sites More sharing options...
VanGogh Posted October 14, 2021 Share Posted October 14, 2021 18 minutes ago, brianwalden said: This is like that Building the Future of France meme but in real life. I don't believe I've seen it. Link to comment Share on other sites More sharing options...
brianwalden Posted October 14, 2021 Share Posted October 14, 2021 6 minutes ago, VanGogh said: I don't believe I've seen it. It's not an image, it's just that on Twitter you'll often see the term "Future of France" instead of "Future of Finance" in reference to DeFi. I believe it comes from some typo someone made in a tweet once. VanGogh 1 Link to comment Share on other sites More sharing options...
Danny Posted October 14, 2021 Share Posted October 14, 2021 1 hour ago, VanGogh said: Regarding the usefulness of xrp outside of the US: Bombshell! France Finance Minister Declares Independence from the US! Dollar death, Inflation coming I'm not an expert and he may be right, but having the world reserve currency is good in the short, bad in the long term. He who has the world reserve currency has to deal with an artificially high exchange rate because there's much more demand for his currency worldwide than there otherwise would have been (known as the Triffin dilemma: https://en.wikipedia.org/wiki/Triffin_dilemma). Recessions and depressions are generally deflationary. During a recession banks usually cut and reduce the supply of credit, despite QEs and money printing. In 2009 the US had deflation. https://www.statista.com/statistics/191077/inflation-rate-in-the-usa-since-1990/ VanGogh and Julian_Williams 2 Link to comment Share on other sites More sharing options...
RikkiTikki_is_Back Posted October 14, 2021 Share Posted October 14, 2021 2 hours ago, Danny said: One could argue that BTC has had more influence over XRP's price than Ripple has. I think this argument was shot down when the SEC launched their suit and the price tanked and has been suppressed since. The SEC influenced the price then. Hell we have seen many of good news come out of Ripple and price go in reverse. One can definitely see in Ripple where market drives price. They don't burn tokens and their not artificially propped up by a border line ponzi scheme token scenario. Julian_Williams 1 Link to comment Share on other sites More sharing options...
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