The J-DEN / Text Channels / finance

Are they likely to win it?

I don’t think so

But massive implications if they do

Classifying as a security would require much more regulatory disclosures

SEC tryna flex on crypto, it’s been shot down before but I think in this case the dollar backing complicates things a bit

interesting

XRP shills seem pretty confident that they will be fine (from this google doc getting passed around)

numerous claims about how they actually want the lawsuit to get Regulatory Clarity 🤷‍♂️

but yeah imma look into it a bit more, thanks for the info 👍

Yeah that’s an interesting theory- in a way they are not wrong as the SEC regulations ideally are put in place for consumer protection- however from everything I’ve read it would be catastrophic for valuation since at that point Ripple would be guilty of selling unregistered securities to unqualified investors- a felony. By extension this would open up exchanges that sold XRP to liability. One other thing to note is the former head of the SEC, Clayton, is notoriously anti crypto and probably pushed for this lawsuit. He announced his resignation at the end of 2020, so perhaps the new guy, Piwowar, will be more amenable.

Here’s him discussing the exact issue in a 2018 lecture- see at about 30 minutes in, and again at 49 minutes.

https://youtu.be/gMHxoKpw0vE

One thing that Piwowar does seem more friendly to is the idea of a Bitcoin ETF, which would open up the crypto market to be traded on the exchange. If a fund like that got approved, we’re probably strapping back onto an even bigger rocket 🚀📈

oh wow I didn't know about him being on-board with a Bitcoin ETF, we'll see where that goes. I guess in the short term for the XRP case, the fact that Piwowar would take over, would make their chances of surviving the case better, and thus some possible short term gains to be made? However, from what i've read at least, this idea of going into XRP for the long term and that it hits 2k in 2-9 years, I just can't see it happening lol

https://drive.google.com/file/d/15rLzU8yufnVBnXLVdc8c_tIcgyomCoJe/view this is the google doc, the guy writing it is obviously more on the optimistic side and most certainly is holding XRP but it makes an interesting case nonetheless

Personally I think ripple is shady and XRP is a shitcoin but I’m also not really familiar with it from anything more than a legal aspect. I’ll give the article a read though.

yeah you're probably right lol

The reason why I’m bullish on bitcoin is because the big financial institutions are betting on it- im not sure how much room that leaves for smaller alts like XRP- it could be that a rising tide lifts all boats, or smaller coins like XRP that have relied a lot on marketing could be washed out.

Ok having given that doc a precursory read, a couple thoughts;

A) although the idea of the transaction limit slowing down the upward scale of Bitcoin adoption isn’t without merit, I think other coins like BCH or BSV have done a better job addressing that issue and are already way ahead of XRP. B) the idea that the IMF would adopt XRP as a replacement reserve currency, displacing the Dollar, euro, yuan, yen, the pound, etc is pretty laughable. If anything, and they went that way, the IMF would likely make their own coin. And that is the definition of a long play- if the dollar is displaced by crypto we’re looking at a 20-50 year time line on the most generous estimates. C)If we’re talking about displacing the dollar, I think the yuan or the euro are wayyyy more likely candidates- any crypto would have to surpass them, as well as the 8 other reserve currencies currently recognized by the IMF. It’s a pipe dream and stuff like this makes me question the intelligence/agenda of XRP “shills” when they make these pie in the sky predictions and rely on drawing tenuous connections between ripple executives and the IMF reps. D) I also think it’s silly that to think that BTC, with infinitely more valuable than XRP, wouldn’t be able to patch in quantum computing protections but somehow XRP would, even though neither technology has been invented yet.

Then again, at the end of the day, it’s 23 cents so if you want to buy some and hope for this scenario, go for it. But just be aware that it’s a lottery ticket- big big payout but you’ll probably never cash. If you’re like me you’ve spent hundreds of dollars on poor decisions, nights out, food, video games, or just random shit so I can’t blame anybody who puts a few hundred into this and just hopes for the best.

yeah I agree the long term shit in the document is borderline insanity lol, pretty much the same insane theories you see on the XRP schizo threads, i was mainly reading it for stuff on the court case specifically

no way i would be looking to hold hoping for this sequence of events

All the big banks are treating crypto as insurance policies. Invest $10,000 in every shitcoin and youll eventually even out

https://coinbase.com/earn/xlm/invite/r605wcz8

Let’s get some free XLM bros

Yeah I’ll do this when back at computer, saw these earlier, seems like a good way to earn some free coin

traded lrc and xml into bch. will buy back into lrc soon.

Did yall see panther den sold his assets today bc of tomorrow

idiot lmao

I facepalmed so hard. I cant imagine selling now

I haven’t invested yet

im holding only link

.025 btc as of rn

nice

based i honestly want to dump into it the moment it goes back down to $12

i wanna sell at $15

thatll be a really nice profit - then buy back at around 10-12

https://coinbase.com/earn/xlm/invite/6mvycnrq smore free xlm

https://coinbase.com/earn/xlm/invite/zjq0k735

even more free xlm

some free COMP too since were shilling codes lol:

https://coinbase.com/earn/comp/invite/vwkm86nd

yo i too can give some free comp

https://coinbase.com/earn/comp/invite/2hxz703b

:winning:

https://coinbase.com/earn/comp/invite/7p409fry

Comp referral for 4 people, like this if you use the link https://coinbase.com/earn/comp/invite/7t13cyb9

i only have one claim of xlm

XLM link 2 referral slots left, like if you used so everyone knows https://coinbase.com/earn/xlm/invite/qpb6mvrs

Last one. BAND referral link ($10) 4 slots left, like if used thanks! https://coinbase.com/earn/band/invite/v4y2hj8c

lmao

link ftw $20 imminent

Doge $1 imminent

$TH looking fucking GOOD in premarket

Anyone else get this on binance?

Isn't Binance illegal in US

It is

Wait why

Ya I didn't know until it was too late and I was teyna sell higg

Tryna sell high**

coinbase is what people use

^

just use coinbase and some wallets

exodus and metamask seem cool

Makes sense

All the people mined early on and forget their password

What cheap crypto should I buy?

Litecoin

Okay

why?

Because I want to get rich

no why litecoin

Cheap compared to last spike and low transaction fees compared to bitcoin, isn’t a new shitcoin either its the little cool brother of bitcoin

Its the silver to the gold

I was going to invest in it just because some autist on discord told me to but that makes sense

Idk man overall it looks like a neat package 📦

Bitcoin has me priced out

lmao sorry for ruining that for you

yeah that makes sense

Idk if monero is still around but that shit was epic

Completely anonymous but its been a year or two since i read up on it

I'm too scared to invest in Bitcoin right now. I feel like it's about to crash

Dont

Bitcoin is useless but not in the way you think it is

Ill say high transaction fees

But how much is a wire transfer at the bank?

I would use bitcoin for secure transactions that involve $500+ that is my use case

How much are tx fees rn like $20?

Messed up damn

has anyone used any auto trader with crypto?

Sounds like vegas slots on auto fuck that

Never have to be clear

idk i was recommended wealthybot.io

Trump speaks in 5 but he is fashionably late catch him on rsbn on youtube

seems kinda sketchy do so i wouldn't use it for any long periods

but aren't there algorithms that are recognized to generally have a higher chance of making a profit with fiat? that should work with crypto too

i know too little about it to tell though

finance