Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
Yep
Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple
Coinbase said it will suspend trading of XRP, the cryptocurrency the U.S. Securities and Exchange Commission sued Ripple Labs in regards to last week claiming it is really a security.
Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple
Coinbase said it will suspend trading of XRP, the cryptocurrency at the heart of an SEC lawsuit against Ripple Labs.
Yep
Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple
Coinbase said it will suspend trading of XRP, the cryptocurrency the U.S. Securities and Exchange Commission sued Ripple Labs in regards to last week claiming it is really a security.
Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple
Coinbase said it will suspend trading of XRP, the cryptocurrency at the heart of an SEC lawsuit against Ripple Labs.www.coindesk.com
The modern investor does a good break down on the relationship between Ripple and Coinbase. He confirmed what I thought which was Coinbase supposedly can sell securities so the move to hold xrp doesn't make sense for them to me. I still need to recheck for myself, but i was under the impression that CB could sell securities as well. This really one of his better videos regardless of if you care about xrp or not.
He is my go to guy in the crypto game... boxmining and TMI Everything else is garbage
Breh is a lightweight XRP maximalist. Plus, he is pretty much just a crypto reporter of “fundamentals” not an actual trader.... Take anything he says with a grain of salt.
on a better note: https://www.google.com/amp/s/financ...rs-russell-okung-becomes-first-140050878.html
Nah. If you really watch he's videos, he's into btc more then anything. Everything else is a means to an end for him unless they prove themselves. I don't always agree with his thoughts, but this was an unbiased view and he brings up issues with xrp/Ripple and others all the time.
Regardless his overall opinion on the matter is logical and not emotionally based. When you get a chance, watch the video and if you feel like it let me know your thoughts on what was said. In my opinion his historical accuracy of the events between the two organizations and why CB finally listed xrp are legit as far as us outsiders are aware of.
I think the problem right now is that xrp is not legal to sell as a security. In order for it be legal, it had to go through the proper channels get the license (sorry if not the correct term) to be sold as such. XRP came to the market as a non-security asset. Had Ripple come to the SEC and set up XRP as an official security, coinbase wouldn't have any issues with selling it.
You could be correct.
In my mind the SEC is accusing Ripple of selling a security, but it hasn't been ruled as such officially. Legally as of today Coinbase would not be doing anything illegal under Ripples premise that xrp is a currency based on the FINCIN ruling. Even if it is officially labeled a security in the future supposedly Coinbase already has a license to sell securities.Coinbase didn't add xrp to their platform until after they acquired the securities license.
Now there could be further actions Coinbase could need to do beyond having a license such as informing there customers that xrp is a security. However, given that they have a license why not just complete the needed actions as if xrp is officially a security today instead of putting it on hold?
The needed actions or rules could be more complex than I'm obviously aware of, but in my opinion Coinbase has other potential securities on there platform so why not put them on in hold as well? The answer to that could be as simple the other coins/tokens have not been officially accused of being a security.
You give some valid arguments....well out of my lane to argue..lol. I have to do some research to fully understand the full scope of the SEC argument.
if you want to read the complaint, here is the link.
However, I did want to respond to your last point. I do get the vibe that this lawsuit going to open a pandora's box for investors like us who jumped in 4 years ago, especially with bitcoin hitting and staying at these all time highs.
Below a cent after the SEC is done
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how are you buying if the exchange has stopped trading it?
So, best case scenario, SEC loses or XRP settles, then the exchanges start trading again and everything goes back to normal?
no matter what, XRP is still selling overseas. this sec thing is only about american regulation. so the real question is how to do you get access to the foreign exchanges that don't deal with the US.
AHHHHHHHHH ok...... The only exchanges I have access to are Coinbase, Bittrex, Bitstamp and Kracken....I think they are all US based exchanges?
I don't think Krakken is US, but don't' quote me. Regardless, a number of foreign exchanges were doing business with US customers. Over the last few years, a number of them either outright banned US customers (do to US regulation on crypto) or moved them over to their US counterpart which complies with all US laws related to crypto.
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Kraken is a U.S. exchange.
They are based out of San Francisco...always have been
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You don't get access. try using a vpn or fake docs will get your account locked and your crypto tied for who knows how long. If it stops trading here, consider it off limits to Americans. Trying to get cute can cost you a lot of time and money
If you really want to buy it now, I don't think Uphold has put a hold on or delisted xrp yet. This could change, but I've used them for a year or two and I've never had any issues.
Do you have atomic wallet? You can just cop BTC/ETH from an exchange that us Amercians are allowed to use and just swap for it in the wallet.
Fortunately, SOME things should remain out of big brother's reach for now. Probably pass the 'protect crypto act' in the next few years and threaten us with 5 years for doing swaps on our own in.a self-hosted wallet. U.S. ain't shit for how they playing.
Do you have atomic wallet? You can just cop BTC/ETH from an exchange that us Amercians are allowed to use and just swap for it in the wallet.
Fortunately, SOME things should remain out of big brother's reach for now. Probably pass the 'protect crypto act' in the next few years and threaten us with 5 years for doing swaps on our own in.a self-hosted wallet. U.S. ain't shit for how they playing.
Hmmmmm no I don't have atomic wallet...probably need to look into it.
Do you have atomic wallet? You can just cop BTC/ETH from an exchange that us Amercians are allowed to use and just swap for it in the wallet.
Fortunately, SOME things should remain out of big brother's reach for now. Probably pass the 'protect crypto act' in the next few years and threaten us with 5 years for doing swaps on our own in.a self-hosted wallet. U.S. ain't shit for how they playing.
Is Atomic better than Exodus?Do you have atomic wallet? You can just cop BTC/ETH from an exchange that us Amercians are allowed to use and just swap for it in the wallet.
Fortunately, SOME things should remain out of big brother's reach for now. Probably pass the 'protect crypto act' in the next few years and threaten us with 5 years for doing swaps on our own in.a self-hosted wallet. U.S. ain't shit for how they playing.
I don't use exodus yet, but Atomic is pretty solid to me.
why not a hardware wallet?
Got those too. Egg/ basket thing with me. As for hardware wallets, I never get why people would just buy 1. Heard some bad stories of folks just having 1 hardware. Folks should have multiple for each seed with the max pin.
It will swap places with BTC in "value" once all of this is over with and "clarity" is established..IMHO. As some have said...this is a rite of passage.
It will swap places with BTC in "value" once all of this is over with and "clarity" is established..IMHO. As some have said...this is a rite of passage.
Your source is using traditional companies instead of comparing Ripple to other Crypto products/companies. The reality is yes they could come out with just a fine or nothing at all. However, in the Crypto world and traditional world companies have had to not only pay a fine but shutdown their operations. In some cases companies were indirectly forced to shut down because of the size of the fines.
My advice to anyone would be to read the SEC filing, wait for Ripples rebuttal, wait for the court case and keep a very open mindset. No disrespect but the source you are using is not remotely objective and is known to make wild claims that to this day have not happened.
I know EOS and I believe Kin just paid a fine, but there situation is slightly different from Ripples. EOS was able to not be labeled a security because the ico token that was sold and considered a security was the er20 token and not the current EOS token in the market. Also I don't believe they were damn near being accused of securities fraud and market manipulation like Ripple.
Ripple clearly thinks being labeled a security will impact their business or they would have just paid the fine and moved on. In the case with Tesla, it is considered a security or rather the stock is so that was never in question and clearly being labeled a security doesn't hurt Tesla's business/day to day operations.Tesla also doesn't have any issues with their stock being sold by stock exchanges in the US or any identity that has a license to do so. I'm not a lawyer but the two are not comparable.
Like I mentioned before my plan is to sell off enough where I'm not hurt to badly worse case scenario and hold enough where I'm not forced to hurry and buy back in.thats assuming the price doesn't fall to much between now and the 1st. If it falls too much before the 1st, I'll just hold.
The links below give details of two Crypto projects that were fined and forced to shutdown operations.
Telegram Drops TON Cryptocurrency Project After US Prohibits Global Distribution – Bitcoin News
Telegram has shut down its TON cryptocurrency project. Telegram founder Pavel Durov explains that a US court stopped his TON project and prevented the gram cryptocurrency from being distributed to investors, not just in the US but globally.
ShipChain is the Latest SEC ICO Casualty
ShipChain was a company engaged in developing a logistics tracking and management platform using the Ethereum blockchain technology. During the…
It will swap places with BTC in "value" once all of this is over with and "clarity" is established..IMHO. As some have said...this is a rite of passage.
What would you say the buying point should be?
this sounds pretty cool, especially with the option of trading cryptos with the wallet.
This is a great retort.Your source is using traditional companies instead of comparing Ripple to other Crypto products/companies. The reality is yes they could come out with just a fine or nothing at all. However, in the Crypto world and traditional world companies have had to not only pay a fine but shutdown their operations. In some cases companies were indirectly forced to shut down because of the size of the fines.
My advice to anyone would be to read the SEC filing, wait for Ripples rebuttal, wait for the court case and keep a very open mindset. No disrespect but the source you are using is not remotely objective and is known to make wild claims that to this day have not happened.
I know EOS and I believe Kin just paid a fine, but there situation is slightly different from Ripples. EOS was able to not be labeled a security because the ico token that was sold and considered a security was the er20 token and not the current EOS token in the market. Also I don't believe they were damn near being accused of securities fraud and market manipulation like Ripple.
Ripple clearly thinks being labeled a security will impact their business or they would have just paid the fine and moved on. In the case with Tesla, it is considered a security or rather the stock is so that was never in question and clearly being labeled a security doesn't hurt Tesla's business/day to day operations.Tesla also doesn't have any issues with their stock being sold by stock exchanges in the US or any identity that has a license to do so. I'm not a lawyer but the two are not comparable.
Like I mentioned before my plan is to sell off enough where I'm not hurt to badly worse case scenario and hold enough where I'm not forced to hurry and buy back in.thats assuming the price doesn't fall to much between now and the 1st. If it falls too much before the 1st, I'll just hold.
The links below give details of two Crypto projects that were fined and forced to shutdown operations.
Telegram Drops TON Cryptocurrency Project After US Prohibits Global Distribution – Bitcoin News
Telegram has shut down its TON cryptocurrency project. Telegram founder Pavel Durov explains that a US court stopped his TON project and prevented the gram cryptocurrency from being distributed to investors, not just in the US but globally.news.bitcoin.com
ShipChain is the Latest SEC ICO Casualty
ShipChain was a company engaged in developing a logistics tracking and management platform using the Ethereum blockchain technology. During the…www.lexology.com
