/biz/ - Business & Finance

>>25124785
What are the consequences of this lawsuit for the crypto industry? The first thing I can think of is that the SEC will treat crypto as securities (like stocks) as opposed to commodities, bonds or currencies. That means you will have to report and pay capital gains on your crypto transactions just like you do with stocks. I guess retail investors are kind of ready for that anyway if they invest via Kraken or Coinbase. But this is a more far reaching determination than appears at first from a different perspective. This determination means that the risk weighting for crypto as a financial instrument will never as low as Gold, cash or government bonds. Crypto is Tier 3 capital. It will never be Tier 1 capital like Gold, cash and government bonds. That means that the dream that Bitcoin will be on Central Bank balance sheets is simply NOT going to happen. Bitcoin will never be like Gold, a Tier 1 central bank asset.

The 2nd thing is that the SEC will go after public and non-public companies that invest into cryptocurrencies and charge them if they don’t do proper disclosures and follow investor protection guidelines. The first thing that comes to mind here is Michael Saylor of MicroStrategy who decided to put his company’s corporate cash into Bitcoin. The US government will not consider Bitcoin a cash substitute and Saylor will run into trouble for using Bitcoin to store corporate cash. MicroStrategy is likely to be hit next and Saylor will be forced to sell the Bitcoin. So I think we have big Bitcoin sales on the horizon. Obviously, Saylor is more than welcome to become an investment manager where he can invest in Bitcoin and have an investment fund or ETF that has passed SEC approval. But the pipe dream that S&P 500 companies will be allowed to invest their corporate treasury money into Bitcoin is over. SEC is making it clear that crypto will not be allowed to be used on corporate balance sheets.

The SEC lawsuit means that Facebook’s Libra is over before it even starts. While I can see the SEC being ok with USD pegged stablecoins like USDC or USDT as US dollar substitutes and various cryptos as equivalent to stock market investments, I don’t think the Fed will allow companies to create their own cash substitutes. And Libra is Facebook’s cash substitute. Facebook’s Libra is not a stablecoin pegged to the USD but to multiple currencies with its own formula. Regardless, Facebook meant Libra to be a cash substitute and the SEC simply won’t allow that. So Facebook’s Libra is out. Stellar is also going to get nailed by this because XLM is also a cash substitute.

hello and welcome to the New World Order

You really thought they were just saying that, didn't you?

How about a sauce instead of expecting people to believe you

>>25124818
To summarize, XRP, XLM and Libra are dead.

We likely see a big selloff in Bitcoin as the SEC forces Michael Saylor’s hand. As a result all other crypto sells off. But I think that is simply the next buying opportunity for our Gen 3 POS crypto. Neither Cardano, nor Polkadot, nor Algorand have any similarity to Ripple. They never were meant to be cash substitutes but tokens used to power a cloud computing network so they will be treated as securities (like Microsoft stock). The founders of these networks know all of that stuff and they know to stay away from money printing power of sovereign governments.

As soon Yellen comes around, Bitcoin and Ethereum will be assessed carbon taxes. This SEC lawsuit against Ripple is the beginning of the regulation of crypto. And once crypto gets regulated, the Proof-of-Work consensus carbon footprint will become a major issue for the governments in Europe and the US. So some form of carbon taxation for Bitcoin and Ethereum transactions will be the minimum we will see. Bitcoin can crash big time here. I won’t be surprised if Bitcoin drops to $10,000 and below in coming months. Once Bitcoin sells off, it will selloff fast. All that institutional buying of Bitcoin can stop on a dime if the SEC halts it. And we know that Bitcoin drags the whole alt-coin complex with it. So be ready for a big dip."

take it with a grain of salt.

>>25124785
Maybe everyone at the top of XRP shouldn't have made themselves multi-millionaires

Like nobody's going to fucking notice? I wish nothing but death and misery on those fucks and especially that demon-looking jew with the long, pube-like hair

>>25124785
How much did they paid you to lost this baseless FUD. 2 cents? You realize crypto was deemed as a currency by the US Goverment. So your entire argument is invalid and discarded. I hope the whales who are accumulating XRP don’t pay you any money for all your low effort Fudding

>>25124785
>actual cryptocurrencies unaffected
BTC, NANO, XMR are the only investments in crypto necessary. everything else is scam or shit, i've been trying to tell you retards for years.
if you disagree, you're a scamming faggot
t. oldfag

>>25124839
>Bitcoin as the SEC forces Michael Saylor’s
you're an idiot.
at least try to learn the regulatory landscape before pretending to be a real human.
there are 3 essential regulatory agencies: CFTC (Commodities), SEC (Security), Treasury/FinCEN (Currency).
Bitcoin is regulated under CFTC, thus there will be NO INVOLVEMENT from SEC.

LEARN THE INDUSTRY YOU PURPORT TO COMMENT ON STUPID FUCKING IDIOT

>> Fudders do not know their hard >>Baseless fudding actually makes >>Bus become more bullish on xrp >>and link

>>25124935
At least we all can agree the dumbest assholes in this entire situation are the people like you who still try to shill Ripple
It’s over, stupid. Cash out and move on to something that isn’t a kike scheme

>>25124963
Lmao only someone who started browsing in 2016 would refer to themselves as an oldfag

nice wall of text fud; didn't read
just bought more, thanks

What does this mean for chainlink

>>25125622
nothing, you really think Klaus would let anything like this happen to their oracle of choice?

>>25125770
Would you great reset faggots give it a rest I don't care if he wrote about it in a book if the great reset happens AND they use chainlink they're not gonna be making neets rich they'll be making Jews rich.

>>25125812
>cope
>3 years
>stay poor
etc
Sorry you lost money on XarePee maybe don't buy scams next time.

>>25124818
Bitcoin is actually currency. XRP is by law, and according to the company’s internal reports, a security. You can’t just declare a currency that isn’t connected to a business “a security”. If anything this is bullish for bitcoin as it will decrease faith in a lot of alts.

>>25124935
I can’t wait to see a ripple shits so assblasted they leave this board forever. You’re beyond fucked idiot, cash out your $5 in ripple and buy a bus ticket off of a cliff

>>25124785
OP is a nobody who has a very simplistic view of laws and the world power structure of today. I could sit here and talk out my ass just as good as OP to make people think everything is ok but I’m not a fag like OP and won’t sit here and lie to a whole bored to stoke my ego like a little bitch. Most of what has been typed up by OP is assumptions. Dude thinks everyone in the government cares mad about their job and will work their hardest to make sure this case works out. Lol idk if he has ever seen the people who work government jobs but that’s never their priority hahahahahahaha.

>>25126058
I'm sorry this is happening to you, but it's over.

SELL ALL BAGS (EXCEPT BTC)

>buying XRP
https://www.youtube.com/watch?v=-DT7bX-B1Mg

>>25125867
Shut up clown I am in more link than any of the dumb redditors polluting this board. You will be made a slave. The great reset will be the centralization of power. Jews don't need any of this shit why so you think they're going after ripple

>>25124785
>>25124797
>>25124818
>>25124839
You must be 16 or a 45+ boomer

>>25124785
Didn't read
XRP is not going below 24 cents

>>25126381
yes it is

Source: I can actually read.

I gotta just tell the truth. I'm a 4 year HODLER but the SEC is going to cut and gut XRP and Ripple. This is no joke and no small thing, Baring a miracle, this is the end of XRP. It's done for and I'm sorry but it's the truth.

You copied this from Reddit so FUCK OFF back faggot

>>25124785
>That means you will have to report and pay capital gains on your crypto transactions

You already have to do this retard

>>25126496

>>25126527
it's over. it's time to return home little one

>>25124829
fucking retard, why would sauce do for you? You'd believe it if it was written by some journalist but not if it was written by someone else? You are incomprehensibly retarded. read what he wrote and make your own determination as to it's validity you nigger

On the bright side SEC and brokerages and banks may need a bunch of NEET coin nerds to hire

you certainly paint a grim picture. what if ripple burns the xrp in escrow and wins the lawsuit?

frankly i don't see the use case for bitcoin, and i do think it's likely to be the target of "environmental concerns". if ripple loses then fine. i was prepared to lose that money anyway, and perhaps people will have a greater appreciation for PMs. it would be a shame if they lost though, it's probably my favorite crypto and with spark it would be very good alternative to eth or really any other crypto. if xrp can't succeed then i don't really think other cryptos can either.

>>25127852
I'm sorry you're retarded and make stupid choices.

https://www.youtube.com/watch?v=M1VhDaWkjrk

>>25127948

if you say so. anyone can still put up a validator node and transact with xrp much faster and at a fraction of the cost of other cryptos. if nobody has reason to do this then what good is any other crypto except as a speculative asset?

ripple themselves and the xrp they hold is the biggest liability involved in using xrp. if they're forced to destroy it then xrp is that much more appealing. afaik none of that xrp in escrow is counted toward the spark airdrop so spark itself is already free of this problem. personally i'm not buying xrp now. i bought what i needed well before the airdrop.

i have to wonder whether the SEC is really acting in the interests of the american people.

Hi there fellow crypto enthusiasts. I am a glownigger. Have you seen this satoshi nakamoto fucker anywhere? We plan to sue bitcoin but can't figure out who or what to sue. Thanks for your help.

>>25128172

It's part of the design of the system. It needs a balance between decentralization, security, and speed.

XRP doesn't have this balance. Sorry.

Give me one altcoin that is better than Bitcoin in just one of these three attributes:

Decentralization, Security, and Speed of Transactions

but still doesn't compromise on the other two.

Bitcoin is the most balanced with a first-mover advantage—that's what matters.

>>25128172
cont.

proof of stake cryptos like cardano and tezos seem interesting too. but what use does bitcoin have except to line bitmain's pockets and waste electricity? 1,000 chinese urchins die from black lung for every btc transaction made.

>>25124818
I think whoever wrote this is not in tune with the crypto world. Cryptos that act as currency/ money have been deemed OK, it's the ones that act as investment vehicles without being registered as such. The SEC takes down about a dozen scammy cryptos a year, XRP was just the first big fish. Ripple was doing all kinds of things the SEC didn't like and had a bad attitude to boot, they were combative rather than cooperative with regulators.

I would say that most cryptos would be fine as long as they're careful to not run theor coin like an investment vehicle. It should be decentralized and have a use besides speculative gambling and they'll be fine. Oh the other big problem with Ripple was how they controlled the whole supply, used it to raise funds (they even stated that the purpose of XRC was to fund Ripple) and the two directors named in the suit paid themselves 600 million dollars each from selling coins which the SEC saw as a sure sign of a scam.

Where things get complicated for crypto is with proof of stake. Just the way it works could make a partiicular coin be seen as a de facto security so that will be the next big case. It'll depend entirely on whether the administration wants to take down crypto almost altogether (although btc, ltc, monero and some others would be OK) or allow it with some regulation and oversight. Just depends who is in power amd what their objective is. Trump clearly does not like crypto, he thinks it's just scams.

>>25124839
Algorand is way to centralized, they wear a target on their back as well. Cardano should be fine but again PoS will be the next litigation issue and ADA works on PoS.

>>25128283
Three dollar fees and 10 minute transactions is not well rounded.

>>25125033
You're a fucking idiot.
No offense I may not fully agree with OP, but if you commit wrongdoing in securities, trading, or the malfeasance in a executive role, or even as a fucking lowly fiduciary, the SEC and the FBI are juris.

>>25128798
It is, and the price shows.

Here, I spell it out in this pastebin— a little dated but still holds true
https://pastebin.com/X1qPv6uR

nibba, you really expect to read all that shit?

>>25124963
Lyl

T. Olderfag

>>25125812
Are you not rich yet? Lol

>>25124785
>>25124797
>>25124818
who cares about burgerland? old boomers stay poor kek

>>25130135
Why would anyone care about a nation of 350 million people with control over 1/4 of the world's wealth while trading on financial platforms?

Lol, Europoors stay wrecked. Enjoy your potatoes.

>>25124785
Knowing that what “they” tell us is never the truth I always tend to look at the kikery behind the scene.

We do know the Ripples tech BTFOs SWIFT and the remittance market. Remittance is ginormous and not going anywhere.

I see this as “them” trying to destroy Ripple OR making moves to co-opt ripple.

I feel this while thing is disingenuous with ulterior motives. I could see “them” nearly killing Ripple, then scooping it up for pennies on the dollar, then riding it to the top. After all that is what “they” do.

Im not selling for the chance this happens. Its moon or bust for me.

DR any of this FUD

Still NS my XRP. Enjoy being poor when the lawsuit ends in Ripple Labs favor

>>25130369
While=whole

Also.....I find the timing very suspicious. Just after the Flare snapshot.......I mean we know the SEC had it out for Ripple for some time now. But just after the Flare snapshot people freak out? I dont buy it.

Bitcoin took off and they weren't in on the ground floor. They needed to buy in like us plebs. That was happening with Ripple....and they dont control it .I think they are trying to sink it to get in low and control it.

Lets play this out......it gets delisted out of fear.....anons sell their XRP en masse.....XRP is not dead but close.....then “they” step in and say its worth saving and we can do it right. “They” now own Ripples remittance tech which is the real value. “They” use this to replace SWIFT. New Ripple/XRP is the worlds major crypto tech and “they” profit off of others ingenuity by being back stabbing hook noses.

Its what they do. Its just a theory but if correct, Ripple/XRP could be bigger than Botcoin, Apple, Alphabet, Tesla etc. Hodling now could be the best decision you ever make...or a very bad one if Im wrong.

>>25124935
Lol spotted the brainlet xrp holder

>>25124785
It's time to absolutely destroy the US government. Trump was a good start.

>>25124785
glad i'm a hex staker and unaffected because everything about it is specifically designed to not be a security

>>25124785
with jews you lose, simple as that. as soon as we start 'voting' these people out the sooner we will have a free society

>>25125033
Fuck you and your LGBTQSEC acronym loving ass. Speak human.