/biz/ - Business & Finance

>>25131736

XRP bagholders are eviscerated. There is no coming back. Everything they told you were lies. YOU GOT SCAMMED

>>25131736
yes, ripple corp was 100% FUCKING percent dependent of retail niggercattle for making money.
There are 0 customers
There is 0 banks using it
There are no transfers happening via xrp

>>25131736

This is high quality FUD. But you dropped this ...
"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. MoneyGram has continued to utilize its other traditional FX trading counterparties throughout the term of the agreement with Ripple, and is not dependent on the Ripple platform to accomplish its FX trading needs.As a reminder, MoneyGram does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise. Furthermore, MoneyGram is not a party to the SEC action. "

For those who have poor reading comprehension: Moneygram does not use Ripplenet for the direct transfer of consumer funds (payments). Moneygram uses RippleNet along with other methods for purchasing / sale of four currencies (settlements), but is not 100% dependent on RippleNet.

The lawsuit alleges that Ripple Labs frauded CUSTOMERS / CONSUMER funds by selling them an unregistered security.


This press release from Moneygram is simply them clarifying that they are not within scope of the lawsuit, which they needed to do as they have their own investors and are a public company

Only virgins sold

>>25131736
It's not just over it's absolutely REKT wow

>>25131850
How the fuck do you miss the point of this???
>As a reminder, MoneyGram does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise.
Their status in the lawsuit is irrelevant. What's relevant is that THEIR PARTNERSHIP IS MEANINGLESS

>>25131850
Olympic Gold Medalist in cope

>>25131878
>>25131927
How do you not understand you're retarded lmao

oneygram never used ODL, they used xRapid, which eliminates the need for Nostro/Vostro liquidity pools

https://www.sec.gov/Archives/edgar/data/1273931/000119312519174813/d766773dex991.htm

his agreement will enable MoneyGram to utilize Ripple’s xRapid product (XRP) in foreign exchange settlement as part of the MoneyGram’s cross-border payment process. The partnership supports the companies’ shared goal of improving the settlement of cross-border payments by increasing efficiency and reducing cost through integration of the XRP platform.

https://www.ledgerinsights.com/ripple-announces-launch-xrapid/

However, in most cases with xCurrent, one or both parties will have nostro accounts – a bank account with the receiving bank – which ties up a lot of money.

In contrast, xRapid does not require Nostro accounts. Instead, the XRP digital asset is used to ‘source liquidity’ to make the transfers between banks.

This is just Moneygram distancing itself so its stock doesn't suffer because people who haven't taken the time to understand what's going on see "SEC" and "lawsuit" and might sell their stock. Anyway Ripple sold most of its shares of Moneygram a few months ago after the annual report came out and showed that the use of Ripple tech was successful and Moneygram actually made a profit for the first time in years partially as a result of xRapid

BULLISH

>>25132044
>Moneygram never used ODL, they used xRapid, which eliminates the need for Nostro/Vostro liquidity pools
Why does this contradict what Ripple said in February about MoneyGram using ODL?
>For MoneyGram, they’re now live in five corridors using On-Demand Liquidity. And now, 10% of their US to Mexico [corridor], which is their largest corridor, is moving over to XRP and ODL.
>https://www.fxstreet.com/cryptocurrencies/news/moneygram-is-now-using-ripples-odl-in-five-payment-corridors-across-the-globe-202002080002

>>25131878
That's what I thought! >>25132044


Dipshit!

>>25132142
Think before you speak retard

>>25131736
Didn't the SEC already establish this fact?
Do people not even read the case filing and still hold this shitshow?

>>25132199
The SEC did but now the partners are actually coming out and saying this for themselves. Just wait until the court case starts

Wait I thought this was the standard? What the fuck, was I lied to?

So tomorrow is basically the big day for finding out if XRP is really dead.
If coinbase does the delisting I don't even want to think about the alt-coin market.

>>25132217
these things are usually established after thorough investigation. They probably won't exaggerate it.

>>25131736
DR;NS

>>25132333
You mean today, as tomorrow is a holiday.

>>25131736
Are the anons in the general actually holding or are they larping?

>>25132169
So ripple will moon or not faggot??

>>25132420
Judging from the claims of people other than Max Keiser, Coinbase met with their legal counsel when the lawsuit broke and came up with two plans. One plan was to delist on Christmas Day which is tomorrow, and the other plan is probably to keep it (at risk of attracting the SEC's ire)

>>25132460
Yes

>>25132460
Moon into the dirt
>>25132444
I don't doubt they're actually holding, lots of anons posting in the past 72 hours about losing money on XRP and deciding to sell

>>25131736
Did not read
XRP is not going below 24 cents.

>>25132469
Coinbase can list securities retard
https://www.coindesk.com/coinbase-claims-it-now-has-regulatory-approval-to-list-security-tokens

>>25132509
Literally went to 0.21 on coinbase yesterday.

>>25132513
This says otherwise
>https://blog.coinbase.com/coinbase-announces-confidential-submission-of-draft-registration-statement-b140a9dfc9f5?gi=75209f4e4ecf
They're still applying for that registration

>>25132505
Okay, anon. One more question. If you had a short open since. 60, would you close it here or hold out for xrp dropping out of the top 10?

>>25132513
https://twitter.com/CoinDesk/status/1342111874054311936

>>25132579
>>25132560
Thanks for correcting me, I thought the schizos had hope lmao, they're truly justed it seems.

>>25132574
Take profits just because that's the safe thing to do, although I personally would open up another short because if Coinbase really does delist then it's going to plummet again.

>>25132672
Much appreciated

>>25132672
With all the money leaving it looks like a solid happening. No stimulus, crypto taking a shit, what a christmas guys.

>>25132460
Ripple's legal team in this lawsuit against the SEC is being led by the former SEC director of Enforcement. The SEC previously offered to settle with Garlinghouse and Larson behind the scenes, which offer they declined. Ripple has already been declared a currency by the financial authorities in England, Switzerland, Singapore and Japan, as well as the G20, G30, IMF, and WEF. They are not going to lose. This lawsuit is Ripple forcing the SEC's hand into providing regulatory clarity, after which Ripple's value will skyrocket because it is going to be the backbone of the digital economy, acting as a bridge asset between different digital currencies.

>>25132925
>because it is going to be the backbone of the digital economy, acting as a bridge asset between different digital currencies.

Literally hasn't even been used in any of their partner banks. Cope.

>>25132925
Ripple has been planned since the original Bretton Woods conference, when it was proposed by the IMF's head economists, James Maynard Keynes and EF Schumacher, and called the "Bancor"
https://en.wikipedia.org/wiki/Bancor

(pic related)
This was perceived as too progressive, so it was replaced by the XDR or Special Drawing Rights, essentially the IMF's gross settlement instrument composed of a basket of currencies. XRP (note the similarity between XRP and XRP, (and XLM)) will replace the XDR as IMF financial instrument and usher in the age of digital finance and one world government.

This represents the last and best opportunity to secure generational wealth for you and your descendants. If you don't buy XRP XLM and ALGO (but especially XRP) right now, you will regret it for the rest of your life.

>>25133005
Legit the exact same thing cult members do. When their lies get exposed they just wrap themselves up in more baseless ideas as a coping mechanism.

>>25132974
obviously On-Demand Liquidity has not yet been used on the open market, but each of their partner banks have participated in closed-system sandbox testnets where they tested the technology and found it satisfactory.

However, there are two notable exceptions to this rule: the first, conducted by the Swiss National Bank, Bank of International Settlements (aka the central bank of central banks) and Swiss digital asset firm SIX (a Ripple partner), was successful and concluded last month:

https://www.financemagnates.com/cryptocurrency/news/bis-announces-successful-testing-of-cbdc-project-helvetia-with-snb-and-six/

note that SIX is currently partnering with early Ripple investor SBI bank to create a digital asset custody institution in Singapore:
https://www.nasdaq.com/articles/sbi-teams-up-with-swiss-six-exchange-to-offer-institutional-crypto-services-in-singapore

the other time XRP's ODL was tested on the live real-world market was by SBI bank in early november. it is speculated that this was what led to XRP's pump from about .30 to about .75 or .80

https://dailyhodl.com/2020/11/07/financial-giant-sbi-to-test-xrp-in-6-6-trillion-foreign-exchange-market/

Note that SBI bank was an early investor in Ripple, owns 8.7 billion of the 100 billion XRP, and also was invested in by the Edmund De Rothschild investment fund several years ago.

SBI's CEO, Yoshitaka Kitao, who sits on Ripple's board of directors, is the chief economic advisor to Japan's prime minister. (pic related)

the other, conducted by Ripple partner SBI bank in conjunction with Japanese multinational super-conglomerate Sumi

HOLY SHIT WOW THEY SAID THEYD KEEP AN EYE ON IT ITS FUCKING OVER XRP BTFO xDDD

>>25133111
Yep, anybody who is objective and reasonable is out of XRP by now. Only those with delusions can remain in the face of this revelation

>>25133111
checked, nice digits, but explain to me how the information contained in these posts is "baseless"

i think these datapoints, when taken together, constitute a very sound basis for concluding that XRP is going to play a very important role in the coming digital economy. I'm open to other interpretations of them, however.

>>25133173
The SEC is the deciding faction on this matter. It doesn’t matter what any other government organization says. If it is a security it falls under the perview of the SEC and they decide wether it is a security or not.

>>25132925
>>25133005

how long do these lawsuits usually take to play out?

>>25133309
over a year, possibly longer

>>25133173
My opinion is kinda just what >>25133254 said. If a cryptocurrency was really being set up for full international adoption, it wouldn't be getting hit with a SEC filing. And before you say it, a lawsuit is not only completely unnecessary for "regulatory clarity", it would be a waste of SEC resources in the first place if they didn't believe illicit actions were being performed. I'm not familiar with how other countries define a security but XRP isn't getting adopted if it's in question in the US.

>>25133254
>If it is a security it falls under the perview of the SEC and they decide wether it is a security or not.

sounds like a conflict of interest, but okay.

>>25131800
I can't even tell you how many times I tried to warn ripplecucks about this.

>>25133341
Its not because it has to be ruled in court. But the SEC wins 90% of the cases it brings.

>>25133341
A better way of phrasing would be "the SEC is responsible for deciding whether something is a security or not, using the definition of what a security is as well as preceding cases for reference"