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If the SEC is stalled until Flare is active, it should be an embarrassment to the SEC that a "security" can be used to record smart contracts on a blockchain.
I didn't say Josh had fiduciary responsibility.
The SEC will lose the case because Ripple isn't a security and therefore the SEC has no jurisdiction. Eventually they may get some leadership that has more intelligence than a salad bar.
The Chinese may not control BTC but they own more than the rest of the world combined:
For all of bitcoin's promise of being the world's first decentralized, peer-to-peer cryptocurrency, 65 percent of the total hash power resides in China. That's the highest in at least two years according to a recent report by CoinShares Research.Dec 13, 2019
https://www.google.com/search?q=chinese+own+majority+of+BTC&oq=chinese+own+majority+of+BTC&aqs=chrome..69i57.10346j0j15&sourceid=chrome&ie=UTF-8
Note to SEC:
Do you get part ownership of the Ripple company when you buy an XRP tokem?
1) Yes
2) No
If yes, it's a security.
If no, it's a cryptocurrency.
Gee, why does this simple test take many years to not answer because the SEC is confused? Time for a change in leadership.
It would be considered insider information transactions. Illegal.
Also it would be ignoring their fiduciary responsibility to the company and shareholders.
When Spark enables DeFi for the XRP ledger, then XRP will have the same DeFi functionality as Ethereum, plus other utility beyond ETH's.
XRP has more utility and capacity than BTC already. BTC is only useful as a commodity. Nothing "smart" about it.
Soon, investors that are only familiar with BTC, (because mainstream media only reports on BTC), will hear that XRP has a similar return and has significantly more potential, speed, and lower cost in it's uses.
Gee, a much better token the than the first one exists.
XRP's fast, cheap and "smart" transactions (after it's DeFi debut) will have limitless potential in replacing all financial transactions and paper contracts.
Feds will be releasing crypto regulations in a few weeks Mr G.
Banks can then develop the software they've needed for years to comply with international regulations on using cryptos in lieu of dissolving, into yet, just more brick and mortar statues of the past. Even the US government, years behind as usual, are finally catching up to the rest of the world.
Guess which crypto the banks might need for digital transfer of funds within 4 seconds to anywhere on the globe, at near zero cost, and foreign exchange or not?
Between Q1 and Q2 2021, XRP will have (with Spark) smart contracts at a fraction of the cost, speed, and almost unlimited capacity of Ethereum.
The future is what should be focused on with the wisdom of the past.
The reverse isn't possible.
US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets
U.S. cryptocurrency users hoping to transfer their holdings from an exchange to their own personal wallets may need to comply with new know-your-customer (KYC) requirements under a rule proposed by the Treasury Department Friday.
https://www.coindesk.com/fincen-proposes-kyc-rules-for-crypto-wallets
Ethereum and XRP to Outpace Bitcoin in Massive Bull Run, Says CEO of Crypto Investment Firm Pantera Capital
“It’s easy to be kind of extremist on currencies and some people think it’s all one versus all another. I think there’s going to be a single-digit number of very important blockchains in the long run. There won’t be 2,000, but there won’t be just one.
So we are invested in Bitcoin and Ethereum and XRP… Now I actually think the other currencies are going to outperform Bitcoin. This isn’t to inspire a bunch of hate and trolling. Bitcoin is going to go up a ton, but I just think other things can outperform it."
https://dailyhodl.com/2020/12/16/ethereum-and-xrp-to-outpace-bitcoin-in-massive-bull-run-says-ceo-of-crypto-investment-firm-pantera-capital/
DeFi Persons of the Year 2020
https://defiprime.com/defi-person-2020
Bitcoin hits USD 23,000, Outperformed By XRP (UPDATED)
After surpassing USD 20,000 for the first time since December 2017 yesterday, bitcoin (BTC) advanced by more than USD 3,000 in less than a day. While BTC dominance increased, the top coin is not the best performer in the top 10 club today.
https://cryptonews.com/news/bitcoin-touches-usd-22k-outperformed-by-xrp-and-litecoin-8647.htm
I think the world is waking up to the fact that all the printed currencies in the world, held by the banks, has several issues:
1) The globe will have a difficult (and impossible for some countries) to deal with all of the significant inflation that is coming; mainly from all of the surge in printed global currencies. Remember every country in the world (and EU) has printed more money rapidly.
2) DeFi will bypass brick and mortar banks, if for no other reason, it's time has come...it was coming before the pandemic. So current banking will mostly lose credibility because of inflated paper currency, high fees, and central control.
3) A new global economy will be based on national cryptocurrencies (national CBDC). These will not be controlled by the banks but by global demand of each cryptocurrency. Tokens, loans, payments, smart contracts, B2B, P2B, and P2P,payments, and all defi functions will be done globally, in seconds and/or at a low cost based upon the convenience of cryptos competing against each other. (Capitalism of crypto currencies if you will).
As the globe is starting to see the global conditions, they're also seeing a way out of it. The world will control the demand for currency by what they choose. The national governments will only control the laws and regulations for them; aAs we're already seeing now.
Let the global cryptocurrency demand begin ......now.
Every exit is a new start.
MoneyGram CEO: Our digital platforms are driving growth. (Ripple).
Good video
https://www.cnn.com/videos/business/2020/12/16/moneygram-ceo-digital-growth-pandemic.cnnbusiness/video/playlists/business-markets-investing/
I can't spell CBDC
Agreed...Improve on the old, adopt improvements, and have popular utility.
In 2021, based on crypto regs coming out, and Flare, XRP should see rapid growth.
Banks can't replace SWIFT with XRP until the feds define what XRP is and how it will be regulated. It'll be a new international exchange between CDBDs. The banks and feds have to get it right.
XRP is 100 times faster than ETH, and with Flare, will also have DeFi.
They also have crypto wallets, Forte for gaming, and payments between businesses and peers with a simple email.
As Dylan said "the times they are a changin"
We'll see what happens in 2021 and beyond.
Eth and btc holding strong.
Ripple's getting ready for the move after federal crypto regulations get released.
Ripple Board Lands JPMorgan Veteran and Regulatory Expert Sandie O’Connor
Sandie O’Connor, the former chief regulatory affairs officer for JPMorgan Chase, is joining Ripple’s board of directors, the company announced Tuesday.
O’Connor will provide counsel on “government relations and regulatory initiatives” for the company’s next phase as Ripple expands and seeks regulatory clarity in the United States, it said.
The announcement comes as San Francisco-based Ripple is openly contemplating relocating its headquarters to another country, citing a lack of such clarity, particularly on the legal status of XRP (+25.57%), the cryptocurrency it owns large amounts of and has a mighty hand in developing.
https://www.coindesk.com/ripple-board-sandie-oconnor-jpmorgan
I don't see where any of these are used for gaming. That's what a large portion of ethereum is used for and it's getting expensive and reaching capacity.
"Ripple’s goals for XRP are quite different from what Bitcoin is aiming to achieve. Both provide users of the cryptocurrency a way to control their own assets, however, Ripple was designed for speed and to achieve some of the lowest fees of any crypto asset. These attributes make it extremely attractive for banks – Ripple’s main target customer – to move large amounts of money quickly, at a very low cost.
Due to this, Ripple is said to eventually become a replacement for SWIFT – the current standard for international bank wires, that includes slow speeds and high fees. Banks have been trialing Ripple’s xRapid which uses XRP to move funds at lightning-fast speeds between two third-parties."
"Will Meade, Former Goldman Sachs Alum and Billionaire Hedge Fund Manager
Will Meade, Former PM at Goldman Sachs and Johns Hopkins University alumni claims while he doesn’t know all that much about crypto, he expects both Bitcoin and XRP to go up. Meade made his first crypto purchase of XRP, and is calling for a 1500% increase in the asset due to Bitcoin’s new uptrend and a “rising tide” lifting all boats. A 1500% increase would take XRP back to $3 in the near term."
https://primexbt.com/blog/ripple-price-prediction-forecast/
Ripple-Backed Startup Pushing to Bring XRP to $140 Billion Gaming Industry Announces Slew of Partnerships
(From 3 weeks ago but a good article)
"{Ripple-backed Forte is revealing a slew of new partnerships in its push to bring blockchain technology and XRP to the $140 billion video game industry."
https://dailyhodl.com/2020/11/23/ripple-backed-startup-pushing-to-bring-xrp-to-140-billion-gaming-industry-announces-slew-of-partnerships/
You can earn compound interest from your crypto currency on Coinbase.
https://www.coinbase.com/earn/compound/lesson/1
A lot of people bought XRP just to get the Flare airdrop on 12/12. Flare network won't be live/active until between Q1 - Q2 2021. I imagine some sold all/part of their XRP after 12/12 to put it to work elsewhere in the meantime.
They haven't mentioned any future drops for that I'm aware of. Just future snapshot after Flare Network is up and running.
I believe it's only a second Flare snapshot, not airdrop.
There's a hint as to how much the $YFLR (YieldFlare) will be worth:
"$YFLR will be the most important token of the ecosystem. Its total supply is 110,000,000 and the initial distribution of YieldFlare (YFLR) will be 40 million. All owners of FLRs, with the exception of the official addresses of the Flare Foundation, will receive a proportional amount of 40 million DFLRs (DAO Flares), which can be exchanged on the platform into YFLRs."
Only 40 million $YFLR will be distributed for the billions of XRP that must've been included in the first snapshot.
From a total of 100 billion Spark (FLR) tokens that will be created, 45 billion will be distributed to existing XRP holders.
So the $YFLR being available for the XRP Generated $YFLR is only a tiny fraction, meaning it must be worth a lot more than the Spark. (40 mil over 45 billion).
Agreed. Their 6 products (so far) look very interesting, and a another way of making money without selling your XRP or Spark.
FlareFinance can only keep getting bigger because ETH or XRP, by themselves, don't offer all of it's capabilities.
I'm not only keeping my XRP, but I'm still buying more on dips.