/biz/ - Business & Finance

we have it in our ledgers!

Ripple lost - actually LOST - the few hundred blocks of their blockchain. Who knows what the fuck transactions got made in there, and who benefitted

We all know who will pay for those transactions though - don’t we, xrparmy?

>>25093606
Ripple will lose the lawsuit and they will keep the XRPL infrastructure

Even if ripple wins, it's future will be in limbo for the time the lawsuit takes and that will be more than a year.
During which
>institutions
aren't going to use their services.
This is going sub 10 cents by that fact alone. Hodling this is retarded from an opportunity cost perspective as well as a price perspective.

>>25094179
I mean, I'll tell you for sure I benefited by shorting the fuck out of it

>>25093606
>holy shit, the SEC has been collecting so much data on them to buttfuck Ripple
I guess my endless reports to SEC paid off
TOP KEK

>>25093606
yeah and Link is next

>>25093606
can you quote some of the worst stuff in it for keks?

>>25094677
why link? you do know there is 1000's of shitcoins that were created out of thin air, essentially if its not mined, or does not have a fixed supply these companies printed out thier own money from nothing.

The FED and the SEC know they are the only ones allowed to rig and scam the globe with printing endless money.

Link has just as much odds over Tron,Binance coin,tether, EOS, Stellar, etc.

>>25094729
this is my favorite summary:
>In other words, Ripple's stated business plan made Ripple's conduct alleged here a foregone conclusion - Ripple made it part of its "strategy" to sell XRP to as many speculative investors as possible. While Ripple touted the potential future use of XRP by certain specialized institutions, a potential use it would deploy investor funds to try to create, Ripple sold XRP widely into the market, specifically to individuals who had no “use” for XRP as Ripple has described such potential “uses” and for the most part when no such uses even existed.

>>25094838
hm. I think they could make a case around Ripple having a "use" as an access token to smart contracts through Flare. Maybe that's the whole reason they got involved in the Flare thing.

>>25094729
>270.On March 10, 2013, Cryptographer-1explained in the Ripple Forum on Ripple’s website that Ripple’s “source of revenue is the sale of XRP.”
>Garlinghouse has publicly stated, Ripple “would not be profitable or cash flow positive” without selling XRP

>On June 21, 2018, Garlinghouse explained in a public speech that nobody was using XRP to effect cross-border transactions as of that date. Instead, he said that Ripple “expect[ed] this year for at least one bank to use XRP in their payment flows, to use xRapid [ODL].
>Much of the onboarding onto ODL was not organic or market-driven. Rather, it was subsidized by Ripple.Though Ripple touts ODL as a cheaper alternative to traditional payment rails, at least one money transmitter (the “Money Transmitter”) found it to be much more expensive and therefore not a product it wished to use without significant compensation from Ripple.
>Between early 2019 and July 2020, the “Money Transmitter” conducted the overwhelming majority of XRP trading volume in connection with ODL. Ripple had to pay the Money Transmitter significant financial compensation—often paid in XRP—in exchange for the Money Transmitter’s agreement to help Ripple increase volume on ODL.
>Specifically, from 2019 through June 2020, Ripple paid the Money Transmitter 200 million XRP, which the Money Transmitter immediately monetized by selling XRP into the public market, typically on the very days it received XRP from Ripple

paying for 'adoption' like that is a straight scam

>>25093606
>mfw called the CNBC fud this morning at 8am
>too many threads open to find it

>>25094978
it's been obvious for a long time to anyone who actually looked into it. I'm glad this is finally happening, and that they've apparently taken the time to collect all of the evidence. they're so fucked, I hope the execs go to jail

>>25095233
Good thing Japan has an extradition treaty

>>25093606
Youre a nigger
/thread

>>25095233
They won't go to jail unless they've really personally pissed off some sec jews

Xrp is, yet again though, one of the world "alive", cryptos to hold

there are people out there who are not buying more in this dip

>>25093606
>claim to be an institutional product
>sell exclusively to retail
This is the real hilarity here.
Turns out there was ZERO ZERO ZERO ZERO demand from banks for this shit.
they were desperate to get listed on exchanges because that was literally the only dumb joggas buying it.

>>25095430
has the doubt set in yet? or still just denial? at what point will you finally capitulate? 20 cents? 10 cents? under that? or will you still be buying the 'dip?'

>>25094838
>>25094978
SEC seems to have a mountain of evidence. The 71 page filing is probably just the tip of the iceberg. This isn't EOS or Enigma or Kin. Some people are probably going to jail and you're going to have cease and desist orders for the scam. This is why Ripple has framed this as an attack on American innovation. That is their only defense really.

>>25095353
they're fucked. pic related.

here's a great commentary thread on the whole document: https://twitter.com/stephendpalley/status/1341481715622146055

>>25095678
Here’s a fun factoid related to the investigation. Salty XRP bagholders have repeatedly brought up that the SEC runs a node. And they do. Why, you might ask? Pic related.

>>25093606
>71 pages
Damn. Ripple is fucked.

>>25093606
>I read the first 20 something pages or so, then skimmed through the rest

Stopped reading there.