It honestly depends on how much you own and when you made the purchase. Most of us in the thread purchased XRP in January 2017
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
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That's close to a 25X return.The market cap is way too high to support that number.
In order for XRP to reach the figure it would need a capital injection of $250 Billion of liquidity. I just don't see it happening anytime soon.
Listen live:
UPDATE: A second small trading venue, @BeaxyExchange
, has halted trading of $XRP. "Beaxy Exchange has an obligation to operate with regulatory compliance as a priority," an exec said. If a court found XRP isn't a security, the firm is open to re-listing.
Coinbase and others may do the same.
, has halted trading of $XRP. "Beaxy Exchange has an obligation to operate with regulatory compliance as a priority," an exec said. If a court found XRP isn't a security, the firm is open to re-listing.
Coinbase and others may do the same.
Ripple will settle IMO
Time·stamp
Block.one’s SEC settlement over EOS ICO is “shockingly weak” say critics
Block.one paid just $24 million to the SEC over a token sale that raised $4 billion. And critics say the numbers don’t add up.
Block.one’s SEC settlement over EOS ICO is “shockingly weak” say critics - Decrypt
Block.one paid just $24 million to the SEC over a token sale that raised $4 billion. And critics say the numbers don’t add up.
decrypt.co
This may be the time to buy more... @ .27 cent now. When this blows over xrp IMO will hit it's all time high again.
idk, coinbase is tryrin to go legit very soon and im sure they won't want the heat XRP bring with it , they'll delist XRp real soon imho especially since they want to go somewhat mainstream but strange things have happened...so...
Ripple will settle IMO
Time·stamp
Block.one’s SEC settlement over EOS ICO is “shockingly weak” say critics
Block.one paid just $24 million to the SEC over a token sale that raised $4 billion. And critics say the numbers don’t add up.
Block.one’s SEC settlement over EOS ICO is “shockingly weak” say critics - Decrypt
Block.one paid just $24 million to the SEC over a token sale that raised $4 billion. And critics say the numbers don’t add up.
Dont think they will. But I think they will win anyways...
cosign on that! we shall see
Ripple will settle IMO
Time·stamp
Block.one’s SEC settlement over EOS ICO is “shockingly weak” say critics
Block.one paid just $24 million to the SEC over a token sale that raised $4 billion. And critics say the numbers don’t add up.
Block.one’s SEC settlement over EOS ICO is “shockingly weak” say critics - Decrypt
Block.one paid just $24 million to the SEC over a token sale that raised $4 billion. And critics say the numbers don’t add up.
They could but I doubt it. I could have missed understood but Brad G gave the impression Ripple or he and the former CEO were given the opportunity to settle. Ripple may have refused the offer. Also, Brad is giving the impression that Ripple wants to use the case as an opportunity to be officially not a security.
The other thing is i think Ripple is still being accused selling securities to this day. I don't recall but EOS were probably only considered a security during the early stages of the project mainly the ICO. That is probably why it was easier for EOS to get away with just paying a fine.
yeah ripple been looking funny once i started researching their whole wholesetup but i could be wrong, this could be their shot at untangling themselves from govt regulation in traditional sense
I've been reading the 70 odd page document from the SEC and saw somethings that were questionable from a regulation standpoint. However, I didn't see anything that the average crypto project hasn't done or isn't currently doing.in my opinion people in crypto who claim to not like XRP are hypocrites. There is no way Ethereum should not be considered a security if XRP is based on what I've read so far. I don't know much about the start of Ethereum and it's initial distribution, but I'd guess it's very similar to what happened with XRP and alot of other cryptos. From the crypto community side of things it really is fanboy shit.
From what I've read so far the context of what and why they were doing things may be misleading. Of course you'd expect that from the SEC because they are trying to accuse them of a crime. Ripple still could have done somethings differently including not giving themselves so much xrp, controlling the bulk of xrp and seemingly trying to control the market. From what I've read so far it doesn't seem like they were trying to defraud anyone or profit directly from the price moment of xrp but they are going to have a long day in court.
Distribution of the escrow should have been given to a foundation or the community. That way Ripple could further their claim of being decentralized. Technically the xrp ledger is decentralized, but it could still be argued that Ripple controls the ecosystem due to the fact they have most of the xrp in their possession.
Because they control the ecosystem and there is no decentralized way to earn xrp, regular people like us are dependent on Ripple to build the ecosystem. Anyone of us could have been a validator, but there was no incentive to do say like with btc and others. If you were a node validator, you probably had a business or some other way to profit from securing the network.Ripple should have use the escrow to get people to build on the platform without Ripple having control of it similar to a DAO. Like the rest of the projects, Ripple more than likely still would have controlled the funds/decisions indirectly just like Vitalik or Charles Hoskinson. They probably still would have been accused of being a security but they would have more in their favor than just the ledger being decentralized.
Goes without saying but who the fuck am I and what do I know. I'm just another jack ass with an opinion.
You can find arguments about XRP going back years in this thread. Cats were going back and forth when folks said XRP isn't even needed for Ripple, which is true. There is just an alleged incentive to use XRP.
I always said the fundamentals didn't matter. It's all about narrative and perception. As long as people think something is a certain way, that's all that matters to the market.
What I found interesting is the way the SEC basically said in the paperwork Ripple was dumping on the public. They also said XRP had no use case until recently and then moneygram comes out and says they weren't even using the Ripple network, let alone XRP. I know another partner said as much in the past too.
My position remains the same on the project. Get money with it due to narrative. The cryptomarket has proven it can go on without the U.S. As long as retail traders in the rest of the world think they can get money, people can play the market. Personally, I ain't fucking with it, but I get why people do.
It's clear institutions ain't going to hold this shit. Well, at least not until this shit is cleared up. But this can take years.
Ripple cats were just too arrogant. We all know the U.S. government bitchmade and selectively applies its bullshit. Don't be arrogant with these bitches.
Folks worried that in 2022 or so these U.S. bitches might declare eth 2.0 a security, but by then it will be too late. Institutions pouring into that, not dumping like they did with XRP. We all know how hypocritical the U.S. can be applying their bullshit laws. IMHO, they would have left Ripple alone if those cats just been more humble and not been blatantly dumping.
I'm not sold on the dumping on retail investors argument. Outside of Chris and Brad clearly selling for their personal benefit, everything is seemed to be to advance the ecosystem. Not only that but most of the sells by Ripple were reported quarterly so its not like regular people were guessing about what was going on. As far as Chris and Brad, in my opinion they are not the only people in the space guilty of this. I'm positive Ethereum behaved in the same manner as Ripple, yet they were not considered a security as of today.
I also agree Ripple brought this on themselves with all the leaving the US talk.
The no use case narrative is bullshit as well. Ripple has developed a use case for xrp, but they haven't been able to drive adoption to their products. The counter argument from Ripple will be that they can't drive meaningful adoption without clear regulations. In other words their business is being stifled indirectly by the US government. The deal with Money Gram and others proves that not only does xrp have a usecase but Ripple did everything in their power to drive adoption for the ecosystem and not just to dump on naive buyers including trying to work with regulators.
I think I only got to around page 40.im going to read the rest, but it's very repetitive.From what I've read so far they wanted to try to paint them as fraudsters but knew that might be a hard sell outside of Chris and Brad. Relatively Brad seemed to be on the conservative side off selling.it seems like they are trying to go with Ripple controlled the ecosystem regardless of their intent and retail buyers were dependent on Ripple for the success of xrp.
I'm not sure if a jury will be used or how it works from a court standpoint. If I were a jury I'd probably focus on what I believe the overall intent of Ripple was. The SEC is saying Ripple was aware that they could be selling a security. However, the SEC also allowed them to operate and in their opinion potential harm retail investors. Granted the SEC could claim they were doing their due diligence I'd call bullshit given Ripple has been doing this for years and has been working with Regulators including the SEC. The SEC also green lighted two assets that behave in a similar manner to Ripple and XRP. The biggest problem I see with a jury is that the jury members may not understand how or what cryptocurrency are and assume they are all scams. Another threat is getting jury members who are tribalistic as far as crypto.
I was slowly selling out of xrp because I wasn't sure if the price would move like other investments in the short term. However, I did plan to keep just enough in case something major happened. I'm only holding now because I don't want to pay the taxes this year. January 1, I may sell 50% of my remaining holdings and see how this plays out.
They paid the fine years ago. The people at Ripple need to do the same.
It's not as simple as paying a fine. You can pay a fine and still be considered a security.
Also I'm not sure that I've ever seen where anyone associated with Ethereum or the foundation paid a fine to the SEC. ICOs were/are considered securities but my overall point is given Ethereum and it's founders are likely guilty of the same crimes that Ripple is being accused of how are they not considered a security.
We all know how the real world works. However, laws and rules should be applied the same. Think about what true usecase does ETH have right now? It's primary use case is that of an investment vehicle just like XRP.
I think their use-case argument is in regard to XRP being used, not if it could be used in theory. For example, folks were hyping up that Money Gram partnership in 2019. I remember because I had XRP at the time. SOME folks on reddit saw right through this shit. But even though they said XRP wouldn't be used, they had no idea Money Gram wouldn't even be using the network.
The part that the government laid out as dumping has to do with the discount and locking in so they couldn't dump all at once. They claiming Ripple knew tokens were being dumped so to ease damage they had a lockup period. Good luck arguing against that. Everyone in the game know what lockup periods are meant for. To prevent dumps that kill price.
IMHO, despite ripple doing this shit(as you mentioned, it's all in the game), SEC is on bullshit. 7 fucking years man? 7 fucking years letting Ripple do the exact same shit they been doing? You know how many
"we good?" convos probably happened in 7 years? How many times Ripple cleared with foreign governments?This just shows people to ditch any fucking reliance on the U.S. Us retail guys have known this since everyone been telling us to fuck off since 2017. Any big boy business willing to put their eggs in this basket is fucking crazy.
I don't hold XRP, but I hope they win. Even if a person doesn't intend to ever buy XRP and hates the project, they should support Ripple in this case. U.S. government needs a fucking heat check. This shit is sickening. 7 fucking years man.
One thing I don't like is how the ripple guys tried to turn on BTC and ETH. That was a pure bitch move, but not nearly as bitchmade as waiting 7 fucking years to do this SEC shit.
But remember, ethereum classic is the original Eth. Wonder how that works with those SEC bitches.
I figure ETC gets a pass by proxy. The main difference now is ETH transitioning to POS and ETC is still POW. The thing is ETH got a pass before moving to 2.0 so how could they say ETH isn't a security but ETC is.
That's kind of my biggest issue with calling one crypto a security and saying another is not. It doesn't come off as very definitive and boils down to who you are talking to.
I think their use-case argument is in regard to XRP being used, not if it could be used in theory. For example, folks were hyping up that Money Gram partnership in 2019. I remember because I had XRP at the time. SOME folks on reddit saw right through this shit. But even though they said XRP wouldn't be used, they had no idea Money Gram wouldn't even be using the network.
The part that the government laid out as dumping has to do with the discount and locking in so they couldn't dump all at once. They claiming Ripple knew tokens were being dumped so to ease damage they had a lockup period. Good luck arguing against that. Everyone in the game know what lockup periods are meant for. To prevent dumps that kill price.
IMHO, despite ripple doing this shit(as you mentioned, it's all in the game), SEC is on bullshit. 7 fucking years man? 7 fucking years letting Ripple do the exact same shit they been doing? You know how many
This just shows people to ditch any fucking reliance on the U.S. Us retail guys have known this since everyone been telling us to fuck off since 2017. Any big boy business willing to put their eggs in this basket is fucking crazy.
I don't hold XRP, but I hope they win. Even if a person doesn't intend to ever buy XRP and hates the project, they should support Ripple in this case. U.S. government needs a fucking heat check. This shit is sickening. 7 fucking years man.
One thing I don't like is how the ripple guys tried to turn on BTC and ETH. That was a pure bitch move, but not nearly as bitchmade as waiting 7 fucking years to do this SEC shit.
Yeah buy they are arguing symantics at that point and it's clear they're trying to play on people's emotions by giving tge impression that there is no use case instead of just saying it had little adoption.
I need to read up on what Money Gram said recently, but I do believe xrp holders were lead to believe Money Gram was using Ripple products in its smaller corridors. I thought I saw someone state that MG didn't directly use xrp, but it was indirectly used by other parties involved with MG or Ripple. Again I haven't had a chance to read anything for myself yet regarding the latest things that MG has said about its relationship with Ripple.
I think their use-case argument is in regard to XRP being used, not if it could be used in theory. For example, folks were hyping up that Money Gram partnership in 2019. I remember because I had XRP at the time. SOME folks on reddit saw right through this shit. But even though they said XRP wouldn't be used, they had no idea Money Gram wouldn't even be using the network.
The part that the government laid out as dumping has to do with the discount and locking in so they couldn't dump all at once. They claiming Ripple knew tokens were being dumped so to ease damage they had a lockup period. Good luck arguing against that. Everyone in the game know what lockup periods are meant for. To prevent dumps that kill price.
IMHO, despite ripple doing this shit(as you mentioned, it's all in the game), SEC is on bullshit. 7 fucking years man? 7 fucking years letting Ripple do the exact same shit they been doing? You know how many
This just shows people to ditch any fucking reliance on the U.S. Us retail guys have known this since everyone been telling us to fuck off since 2017. Any big boy business willing to put their eggs in this basket is fucking crazy.
I don't hold XRP, but I hope they win. Even if a person doesn't intend to ever buy XRP and hates the project, they should support Ripple in this case. U.S. government needs a fucking heat check. This shit is sickening. 7 fucking years man.
One thing I don't like is how the ripple guys tried to turn on BTC and ETH. That was a pure bitch move, but not nearly as bitchmade as waiting 7 fucking years to do this SEC shit.
A bit about MG, they stated that they didn't use Ripple for CONSUMER transactions/transfers; which I believe they can't due to the lack of clarity with regulations.
MoneyGram has had a commercial agreement with Ripple since June 2019; this agreement represents the use of Ripple's foreign exchange (FX) blockchain trading platform (ODL) for the purchase or sale of four currencies.
This suit will give clarity to the security allegations and regulations, which when/if deemed not a security will enable more usage.
And also a statement from the CEO of MG in 2019 stating that they went live and were using xRapid.
MoneyGram goes live with xRapid, using XRP
The company’s pivot to blockchain has begun and it appears to be working.
finance.yahoo.com
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You're right, Moneygram loud as shit on what they didn't use Ripple for. However, they quiet and allA bit about MG, they stated that they didn't use Ripple for CONSUMER transactions/transfers; which I believe they can't due to the lack of clarity with regulations.
MoneyGram has had a commercial agreement with Ripple since June 2019; this agreement represents the use of Ripple's foreign exchange (FX) blockchain trading platform (ODL) for the purchase or sale of four currencies.
This suit will give clarity to the security allegations and regulations, which when/if deemed not a security will enable more usage.
And also a statement from the CEO of MG in 2019 stating that they went live and were using xRapid.
MoneyGram goes live with xRapid, using XRP
The company’s pivot to blockchain has begun and it appears to be working.
"no comment' about the rest.Money gram hot as shit because they won't even comment on the part that ANY use of Ripple was subsidized by Ripple. SEC claiming it was inorganic and used by ripple to shill that XRP(which the SEC claims is just for investment) was MAYBE being used.
Best believe they going to cooperate or already have some people cooperating against ripple. It seems like the SEC already got plenty of rats on deck for this case. Our government don't play fair.
Go back to page 1 in this thread
Ripple dudes were getting froggy trying to snitch on etc & btc at a point, as someone once told me , if ur whole setup has CEO that's a warning flag, i heard at a point they were almost paying folks to use the shit to make it look more legit than it truly is.. but what do i know ? but i do think they brought some of this on themselves
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From a crypto investor standpoint, just get your money and stop acting like these people care about you or saving the world. Like I've said many times before most of the people in crypto are hypocrites and fanboys. You're risking your money and shouldn't be behaving like you're supporting your favorite sports team. As far as I'm concerned, most of the projects in crypto do the same thing as the team from Ripple and need to shut the fuck up. The only difference is they are not being officially accused of a crime so you can't see what they've done or are doing. Just to be clear, I'm not talking about you specifically.
The things you mentioned are what the SEC is accusing them of and it's in the paper.there is a difference between incentivizing customers to use a product and selling vaporware. At this point most crypto products are not legit in the sense of having a strong market presence. BTC isn't even being used the way it was intended to be used. From understanding, BTC is supposed to be used as a global currency; not an investment vehicle. funny enough it seems like vchain is getting alot of commercial adoption yet you don't see the price of the token reflecting this. I'm not even sure you can see the usage of the token reflecting vchain is really being adopted by those companies.that is why it's laughable to mention adaption in a space that is young and trying to prove the technology has value.
In my opinion, Ripple and IOG are probably the most open projects to a certain degree. Ripple normally communicates some of the things they do from a business standpoint and a little from tech side. IOG is very open about what they are doing in regards to Ada and a little about the business dealings. Most of the things we are hearing from the SEC were said by Ripple. Even public companies don't disclose everything they are doing behind the scenes. The only thing I've read so far that was kind of new was the level of market manipulation, but I'm not surprised either.we all remember the back and forth between xrp and ETH for the number 2 spot, so its clear to me someone was doing the same with ETH too.i also was surprised to hear they were buying and selling around major news events.
You mentioned Brad being the CEO of Ripple. Well Charles Hoskinson is the CEO of IOG/IOHK and is the creator of Cardano. CZ is the CEO of Binance and they created the Binance token. Justin Sun is the founder of Tron and CEO of BitTorrent. The list goes on. They are all in this to get money and the average crypto investor should do the same. Investors in crypto need to stop putting these people on a pedestal and acting like you care about empowering poor countries or banking the unbanked.when you really think about it, we are all basically dumping on poor people to get rich. Someone in Argentina doesn't necessarily care about BTC being worth 25k like we do.
I remember back in 2017 or 2018 when there were reports that Vitalik had died and the price of ETH started to fall until it was proven he was alive. I also remember when he cried like a child and threatened to leave the project and all of a sudden people were begging others to stop talking about the price so he wouldn't leave. Vitalik may not be a CEO in name but he clearly holds a lot of control as it's founder and it could be argued that the platform isn't fully decentralized as long as he is around. That is part of the reason Charlie Lee claimed he sold his litecoin. Some people believe he sold the top to get money. In my opinion how could he had known that was the top.
Ripple will pay it. Don't know why it's come this far.
I think someone in the Administration has a hard on for them and hitting them on the way out the door.
Yeah , its all PR but u really hit the nail on the head !!! these fuckers all in for the $$ , my thing is , i just try to due diligence on everything & everyone just so i can protect my neck ! info will make & save u money ! like biggie said !! GET MONEY !!!
It may be the safest to buy for awhile and the alts aren't following BTC like it did in the past. I'm positive most people expected more of the alts to be closer to their all time highs especially considering BTC is clearly above 20k. I'm not saying the prices won't move but I think it's going to follow very slowly. Hopefully the supposed regulation clarity in a for weeks help out.
I hope I'm wrong but the reality is the events that lead to the highs in 2017 aren't going to happen moving forward. Most of the things happened because governments took crypto as a joke and didn't really care to regulate it much if at all.
Has anyone heard of or bought into KnoxFS (KFX)?
Been a minute since I've been in the thread. Saw $ZIL running but I realized I still have ETH based ZIL... How the heck can I convert?
***EDIT***
Checked reddit, looks like there might be another chance for a token swap. God, I hope so. Sitting on like 85k @ $.018-ish.
***EDIT***
Checked reddit, looks like there might be another chance for a token swap. God, I hope so. Sitting on like 85k @ $.018-ish.
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When I first got into crypto, the greatest advice I've heard regarding theses altcoins is they're never a sure thing. XRP had my Spider senses tingling since 2018. As far down as the price has fallen since it's ath with all the hyping, the $589 price prediction. I'm like "it's TOO easy". It's like bait
