Topic: Sec vs Xripple and in the future vs BTC? Is it correct? (Read 507 times)

Bitcoin has nothing to do with it, it does not transmit money and does not sell fairy dust like Ripple with its xrp.
Miners validate a transaction did happen and do some mathematical work, nothing wrong with that.
On the other hand Ripple nodes to transmit value and Ripple is selling forever an unregistered security.
Bitcoin and Ripple/xrp is day and night nothing akin.

Your opinion has no basis. You would need to write more to make us more aware. From what I know it uses them, Europe and a large part of Asia are already organizing. Ever heard of fatca? The revenue authorities (taxman) is already organizing, other than sec.

So many times SEC stated that if bitcoin was not security coin. SEC will be targeting the illegal security token offering that operated in US. XRP is the biggest one that is still operating in US. That's why SEC was taking a legal action against XRP. SEC knows that if XRP already violated some rules.
It's incorrect statement from OP says that bitcoin would be the next coin that will be sued by SEC. He needs to read more literature.

SEC has not questions to bitcoin so there is no need to worry. maybe there will be questions to other altcoins that conducted sales of tokens. as you see investors choose bitcoin because SEC doesn't consider it as a security.

People are on a wait and see, many holders already know about the issue but they are not yet selling or cutting their loses, they are still hoping that for a compromised and Ripple can save themselves from this suit, I'm sure they are ready to dump once there are no new good development I'm glad I sold all my Ripples now I have nothing to worry.

Now this is the new attack the XRP lovers have that they want us to position against SEC to defend them. First of all I hate SEC as much as the next guy, do not think that I love them, I hate them too, however this doesn't mean that I would be in support of XRP neither, you could always hate both sides of a fight as well, I hope that XRP gets destroyed and becomes something illegal to have and all the creators founders and ceo's gets jailed, however I also will keep on using bitcoin out of grid so that SEC could never reach me neither (since I am not American, they probably don't care neither).

Long story short there is nothing wrong with what SEC is doing to XRP, sec is a bad place but ripple is a bad place too, even a stopped clock shows the correct time twice a day, so sec did something right which is a very unique and rare situation but works out now.

SEC can act and regulate the exchanges for US customers only so any other investors is not going to have any hindrance innthe usage but delisting from reputed exchanges can collapse the prices completely. Even if this happens to Bitcoin then exchanges may remove it but the holders will never sell their Bitcoin which is not the case with Ripple.

Bitcoin was making its already wealthy founders even richer. maybe that's the difference. The worst thing there is is to envy the wealth of others. This is a very common thing in my country but, until recently, it wasn't like that in America. Since the 1990s, all the new rich, from the founder of Facebook, to the late founder of Apple, have been bombarded by American justice. Instead mafiosi and criminals were left free to grow and proliferate.

Yes, cause Biden is democratic and must tax the bitconin gains i think.

The problem is this: is the SEC attacking or controlling? The task of the sec is to control and defend. After this action, those who had xripple, lost 50% of the value that could be redeemed at any time and in any exchange. Unfortunately there is no international law of economics but it will soon have to be. Should the SEC, if loose, in the persons responsible for the procedure, have to pay for the losses generated by the serious damage to its image?

Are you trying to say that SEC will go after bitcoin in near future? That's almost impossible because XRP is centralized, that's why give SEC the power to go after XRP, bitcoin is fully decentralized and the maker is no where to be found, who is SEC going to arrest? Maybe this is even why Nakamoto vanished into thin air?

Exactly, marketcap is nowhere near accuarate also as some xrp have been gifted to various parties. The move from premine wallet to friends wallet increases available supply as-with marketcap. The true marketcap is the sold xrp and tax been paid for which is small. You can fool more people with higher marketcap. Its a scam all around.

Do not dramatize the situation so much. The SEC does not attack ripple and the claims made will not lead to the collapse of this coin. The SEC is about to file a lawsuit against Ripple in connection with the alleged sale of unregistered securities. This is generally not a very big violation and even if the claim is satisfied, it will only lead to the payment of a certain amount of the fine. If there is a violation, there must be responsibility. However, this does not mean that the SEC is going to attack cryptocurrencies, including bitcoin. Already, the ripple price is starting to recover after a sharp price drop in connection with this news. Therefore, with ripple everything should be fine.

Titanium was a scam project and that's why SEC was shutdown it. KIN was also confirmed as a security coin. SEC has very strong evidence to prove if ripple was a security coin.
It's clearly said that any coins like bitcoin and ethereum were successfully passing the test and both were utility coins.
That means ripple didn't pass all of the requirements to be considered as a utility coin. RIpple was also making the founders of its project became the new richest man too. It's almost similar to bitconnect

I don't feel bad for them. They were cheating investors from the start with their huge premine that they were liquidating on the market every time the price pumped.

What they were doing was the definition of selling snake oil. They had a product that wasn't used for anything and were promising bank acceptance and all that. When people bought some good news and XRP pumped they were selling their premined coins and dividing profits.

Nobody uses XRP for anything but speculation against bitcoin. It became a centralized hedge coin.

Maybe they'll recover from it, maybe not. I won't shed a tear if they don't.

ripple is already dropping before but that was not caused by this issue and now that the issue suddenly explode , i think this contributes a little to the drop because there are those scared ripple hodlers that thinks in advance negatively so they cant help but to sell .

 if they loose this war , in can be a game over for them . trading platforms are going to remove the coin .

investors must not put all the blame to the sec but its also the investors fault . they invest on the coin and they must accept if whatever happens  . its not the sec or ripple teams obligation to refund them

I do hate it when governments are going against the decentralization. I'm not a real fan of ripple, i've used their blockchain a couple of times before and it was just perfect but i want to insist on the point that i'm not a fan of it but i am supporting the XRP lovers and traders whom are against these weird movements. Of course the SEC might try to go against Bitcoin in the fututre and they will succeed in lowering its value but they won't be able to dump it so hard. I am sure that the US government is fucking trying to buy XRP at a lower cost, they are holding alot of BTC and CRYPTO and they are just animals.

It was a surprise to see that the SEC came out with the verdict when the market was rallying and it is a warning sign to all the investors to the rest of the ICO markets as well and that will include ETH which is another major coin in the market as they also raised money without registering with the SEC and the market reacted badly to the situation and XRP had a major correction but within two days the market is recovering which is surprising.
Have to wait and watch how this will end.

This is the rule if a project that is in the USA, they were launched in the USA in 2012 and until now they are alive,
but the SEC has always been a ghost for a blockchain project, remember about Titanium ?,
yes, they were shut down by the SEC and ended badly for investors, and more, so this is the second time I've heard of a good project against the SEC,
if Ripple wins I'm sure they'll still be in the top 3, if lose, it's game over.

The SEC may cause some harm on XRP market but XRP are know for manipulating the XRP market just to make profit out of naive investors and investors have been warn on several occasions not to invest in this coin but seems to be blind by the project partnership with big companies.

The US SEC rules is well noted that any crypto company/project that can not follow the SEC laws should not include US investors.

They are certainly not stock exchanges. Then, if the SEC

The SEC job is to protect investors investment and maintain fairness in the market.

Nice comparison XRP with magic dust)

in my opinion the btc has already been under the attention of the sec and the european, asian and russian security committees for a long time. But it' s true: just Sec can' t target BTC.

It's true, SEC can't target bitcoin because they can't target something that can't be sued. It's just that ripple is a centralized organization that's why they are vulnerable to complaints like this. If ripple can't win its lawsuit, Its value would certainly affect badly. We experienced a value drop from ripple since the lawsuit publicized, How much more if they lose the lawsuit against them.

Who would that be?
Bitcoin does not sell any magic fairy dust like Ripple does with XRP.
Miners observe a transaction did happen, nothing wrong with that.

Bitcoin is the most popular cryptocurrency, and I think if the SEC wanted, they would have started to sue bitcoin long time ago, but the SEC understands that they will not succeed with bitcoin, and therefore at the moment the SEC is busy investigating with Ripple and now one can only guess what will happen with Ripple.

Ethereum is minable. Only a portion of the supply was given in the form of ICO. Ripple was a 100 billion premine out of which the so called Ripple foundation still holds 55 billion. Oh, and apparently, Garlinghouse and buddies made 600 million dollars from selling it.

Where do you think all that money went or will continue to go with retail buyers buying up this shit? All this while they do unreal marketing about how banks will adopt their platform. By the way, they portray themselves as promoters of Ripple platform. XRP itself is just a side note on the main website. They even pretend to having it open for developers. Like any sane developer would touch them with so many other easier and cheaper options available.

Its just too bad that so many people fell for their scam. The SEC should hopefully force them to compensate the retail buyers who fell for this elaborate, slick scam.

What will be interesting to see is which of the non-minable premine Alts are going to be questioned next? Those who have a lot of exposure to Alts must carefully weigh their options. BTC is and will always be the safest bet. Its fair to produce and does not promote itself except through users and the community itself. None of us have "stake" in it. We just use it because it is interesting and enables trustless exchange.

Ripple could be shut down because it's centralized, and this is a big challenge for Ripple now. While bitcoin is into a bull run, something bad is happening with ripple, and Sec would not stop doing their job, so I don't think I could still trust the future of Ripple.

There's a reason why people are into panic now, well, they maybe can play as they are holding a big chunk of the total supply, but that would not last for the team, Ripple might continue to struggle until it loss supports from its investors.

Read this way it is interesting. Attacks the company that issued ripple to force it to sell 51%.Or alternatively ripple pays taxes.
As for Satoshi at this point I think someone has eliminated him. Among other things, all those who, in some way, had anything to do with him have died. The thing was getting too big. But if something has to get big, you can't stop it.

SEC can't do anything about Bitcoin because it has no central organization that it can attack. I have always said that the bad part of XRP was the fact that it was run by a company and SEC could attack that company right now, that was the bad part of XRP and now it came to light with this situation.

SEC would love to do this to everyone, every single coin if they could, but they can't, why? Because, who are you going to investigate and sue in bitcoin world? There is none, you could try to do that to Satoshi Nakomoto if you want to but the reality is that there is no Satoshi Nakomoto, at least if there is one we do not know who he is, if they knew they would have already attacked him today but since they do not know who he is, there is nobody that they could sue or investigate. Invest into things that has no centralized organization behind it.

Liberty reserve was operating for 11 before it was shut down, law works slow. Very good news they finally deal with this known scam.

The question is if the btc turn a commodity same xripple and ethereum they can' t be quoted on the exchange in US i think

Indeed, that is the beauty of being decentralized, there is no point of operation, everyone who is supporting Bitcoin is scattered thru out the word.  And no company or entity owns the Bitcoin blockchain.  Probably this is the reason why Satoshi remains anonymous.  He has foresee the possible scenario if he became known.



In addition, they are also focused on fines and penalties.

Xrp is the 4 th crypto for capitalization after BTC ETH and USDT . Can be ripple to be damaged to sec? I think of yes cause the big lose of value. It is born in 2012 why do you remember today of action against this coin? Or do you want start action vs top coins?

Best Christmas news. This scam is operating way to long already, selling magic fairy dust.

I am just worried about the fact that if SEC becomes hyper active and we start seeing such actions against top coins as well then what will happen, it can really hurt the market and throw things down the drain. I still hope SEC will revise their strategy especially against well established top coins.

Ripple was what SEC explained, a never-ending ICO. You got Rippled and the problem is that even the most loyal XRP follower knew this was a scam all along.
What do you think of having a company pre-mining 100 Billion coins and holding most of them in wallets that were opening every month selling a hundred million?

To not repeat this, and save investors from losing their money due to disinformation and extreme shilling, top exchanges will require to delist this coin.
Coinbase wasn't very eager to list it anyway so the time will be right for them.

Ethereum conducted their ico in 2014 same xripple: the investors are given tokens in return for their investments.

Well tough news but this is not the first time that US regulators have acted against the interest of actual paying customers,,, and in the end most customers lose after long legal process (because regulators will also confiscate funds and try to return proportionately) after fees of lawyers and court battles etc.

But in the long run, they just want to prevent more new customers from losing more money.

Do not trust your money with centralized entities and especially those not regulated that is all.

I know this is a bad day for Ripples since they are caught red-handed and as you can see the price of XRP in the market, if not stopped, is now falling towards a new All Time low. I wonder how would they recover from this kind of disaster. What will happen to BTC? I think BTC has nothing to do with it though. The price of BTC still remained at its ATH and it will continue to rise until next year because everything about Bitcoin nowadays is good news.

SEC can sue Ripple because there is someone where they can address the complaint but in the case of Bitcoin nah they can't.  Technically speaking, no one/company really owns btc — it runs because of all of us. That's the beauty of being decentralized .

So don't worry too much if you are a btc investor, such news won't totally affect it. However, we can't deny the fact that people might have a bad impression to crypto once again. And for those xrp hodlers out there, time to leave the boat now before a bloodier falldown happened.

You cannot compare Ripple to neither BTC or not even ETH.

As of today, BTC is still being mined by people willing to put their own time and investment into maintaining a mining setup. There is no centralized party that asks you to buy bitcoin or invest in mining it.

Even ethereum has a mining system but they are now dreading dangerous waters with the PoS model. Otherwise, the emissions are fair enough, although unlimited, which can again be a point of contention.

Ripple on the other hand is a classic premine. What else do you need as proof except the fact that the founders have made over 600 Million dollars by selling billions of the tokens that they simply gave to themselves? Ripple is basically the biggest fish. The next target i believe are going to be the stablecoins, exchange coins like BNB and any of the other tokens issued by major, well-known entities in the space.

Ok, but we can compare ripple and Ethereum i think...

XRP is owned by Ripple meanwhile BTC is owned by no one but the community itself. It's like comparing an apple to orange, more over who SEC gonna sue? it's not like satoshi is dumping off his BTC to the market unlike XRP founder.
I have a hard time picturing SEC gonna sue BTC because that's simply doesn't make sense considering the nature of btc as true decentralized currency. If any, they gonna sue company offering service using BTC and not the coin itself.

Bitcoin is not fairy dust sold be a private company. Every private company in the past issuing money has been shut down, why would it be any different with Ripples xrp?
Very good news cryptomarket finally gets a clean up.

Before the SEC case, Ripple was in bad shape again. I think Ripple will be very harmful in this case, but this will not affect Bitcoin.
Right now, hundreds of thousands of cryptocurrency fans have their eyes on this news. I hope we get good results.

Nakamoto knew that all this will happen, this is the main reason he never come out and reveal himself to the world, bitcoin is war against central bank and the government themselves, SEC going after bitcoin doesn't make any sense because there is no one to hold responsible, the oy decentralized coin I know is bitcoin, it was well planned

It's funny because they claimed to have expected SEC to move against them but looking at the situation, it seems that they aren't doing very well.

https://www.theverge.com/2020/12/22/22196064/ripple-sec-cryptocurrency-security-currency-xrp

body of ex government. Trump lost. Shouldn't they change the head of the sec soon? or someone is trying to be reconfirmed and then fires these missiles to scare others?

ok dude: this "coin" is a coin, or why we talk about coin? why must the sec decide what is a stock and what is a currency? Politics should decide! . given that, with the Fatca there is now an economic dictatorship, then we also consider the dollar as a security since almost all dollar transactions are virtual?

Owners and cronies and yes, including the investors because they are the ones that will take the collateral damage of the price plummet that effects this lawsuit. They are a body of the government and that's credible enough for them to do things such as this in the future. And if SEC does attacks bitcoin, who are they going to sue? satoshi nakamoto? they can't do anything with that and if they're thinking of doing it, they're going to be a big clown because its decentralization can't be handled by them. No central power and authority, unlike XRP, it has owners, ceo, etc.

The people behind XRP foundation itself must have paid back the investors.

You should wake up from your dream dude

https://www.investopedia.com/news/sec-chair-says-bitcoin-not-security/
https://www.cnbc.com/2018/06/14/bitcoin-and-ethereum-are-not-securities-but-some-cryptocurrencies-may-be-sec-official-says.html

You can find a bunch of news about that on various sites. That clearly said that ether and bitcoin can leave from the things that will make such coin can be classified as security.

Ripple is not decentralized, we must about that. Just make a considering about investing with system like that. Interesting for who is willing payback or charge? I'm not sure, since we have agreed and aware there is no guaranteed value for market activity.

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I'm interested for this one, can you give me a little imagine or light how it's possible happand?

It is possible for SEC as Ripple is a centralized cryptocurrency but bitcoin is not. Bitcoin is a truly decentralized cryptocurrency in the technical network but the disappearance of satoshi years ago makes the bitcoin project becomes more decentralized.

I still think what happened with Ripple is only FUD as many FUDs on bitcoin back in years of 2017 and 2018. The recent news on Ripple can be a very bloody lesson for any crypto newbie who have interests in centralized cryptocurrency. Furthermore, it can be a lesson when they choose exchanges to use (centralized or decentralized) and where to store their cryptocurrency (on non-custodial wallets or on exchange wallets).

The SEC versus Ripple is possible because Ripple belongs to a company. If the SEC files a case against Ripple, there are individual defendants who will face it because Ripple is not truly decentralized; it is owned. On the other hand, if the SEC files a case against Bitcoin, there is no one to whom the case is directed. There is no company either.

Anyway, the SEC does not care about the investors who are now facing huge losses due to its actions. Its focus is on Ripple for illegally selling securities.

XRP team should have seen this coming at their doorstep.
But this is too late for them. Remember, they opened their headquarter in Dubai recently.
They are trying to move away from their home base but still caught up with this lawsuit.
They should have done something before this happens.
Wonder how much they will fall in the market.

It is a real paradox that in the US you buy a shotgun at the supermarket but you cannot do scalping on coinbase. The US has always been the first on innovations, especially technological ones. He created the nasdaq, he should have created the bitsdaq not try to destroy the bitcoin!
But what is the SEC asking? now xrp is worth 50% less. Would he have asked so much? And the investors? shouldn't it protect them?

https://cointelegraph.com/news/bitwise-dumps-xrp-investment-amid-sec-lawsuit-against-ripple
The United State SEC sue ripple parent company for issuing a “$1.3 billion unregistered securities offering. The summary of the lawsuit reads:

“From at least 2013 through the present, Defendants sold over 14.6 billion units of a digital asset security called 'XRP,' in return for cash or other consideration worth over $1.38 billion U.S. Dollars ('USD'), to fund Ripple’s operations and enrich Larsen and Garlinghouse.”

In my opinion, ripple can not be trusted, ripple is not decentralized at all and it is shady which led to what is happening now. The lawsuit filed by SEC has made many investors and organizations that deals with ripple to be backing off as they do not trust ripple again.

Bitcoin is completely decentralized is the difference.

The SEC will face huge issues trying to collapse bitcoin and it'd be almost impossible without the combined efforts of Europe and China/india at least.

The Ripple foundation looked to not be run very well and this is probably a good lesson to people to try to do some sort of research but at the moment the coin has a high market cap still and may take a while to be impacted so people already had a chance to leave.

The SEC (security and exchange commission) caused xripple to collapse and now who will pay back investors?
The sec can act on the company on USA not on what it has produced and that 95% of customers (who are not Americans) own. They are certainly not stock exchanges. Then, if the SEC also wants to regulate casinos, what credibility will it ever have in the future? But then, since it would be a share, why didn't it close on the downside? What safeguards would the sec provide?

https://www.sec.gov/news/press-release/2020-338