Based

This. A lawsuit over one coin isn’t gonna destroy the entire crypto world

I've gone through summaries of the SEC filing on XRP, cliffs:

-SEC has information dating back to late 2012 and early 2013 showing contracts written by co-founders. Essentially 100% of the 100 bill XRP created (pre mined), 80 bill went to Ripple Co. (which underwent a few company name changes in that time), 20 bill split between 3 co-founders of XRP. XRP was 100% owned by Ripple + co-founders (LOL)

-So what do you do when you have 100% of a useless coin and need money to fund a company? Well you start the mother of all pump n dumps in crypto by:

1. Monthly sales dumps on investors (more went to retail than institutions).
2. Paying market makers, exchanges and companies to create an XRP market and trading volume. Even the companies that do use XRP as part of their business, are subsidized by Ripple to do it (given XRP).

From a Ripple cryptographer: "“[T]here is no rational reason why [Ripple] would not continue to execute [its] publicly announced strategy and do everything we can to maximize the price of XRP over at least the time it takes us to sell the XRP we have.”

-SEC has access to Ripple's legal counsel memos in 2012 warning Larsen that the sale, promotion and marketing of XRP could be considered an "investment contract", ie a security. They were also advised in a legal memo to contact the SEC to get assistance on a ruling. Larsen in 2014 wrote in an email that part of his compensation package was taking on the risk that XRP is a security, as he was acutely aware of his legal responsibilities due to his previous company having SEC troubles in 2008.

-It wasn't until 2015 that they started focusing on a banking usecase for XRP, most of their activities to date revolved around increasing XRP token pricing (welcome to crypto). From 2014-2019 they dumped $760 mill on retail. Suspiciously in 2020 they've got no retail sales (LOL caught). 2013-2020 $624 mill sold to insitutions, $totalling 1.388 bill to date.

-Ripple are now trying to play the political china angle, claiming no difference between XRP and BTC/ETH (LOL). Getting desperate much.

TLDR: SEC knows everything, it's as dodgy as everyone has known for awhile but SEC seems to have access to massive evidence of email and correspondence of Ripple and founders ignoring the warnings. Pretty much a Bitconnect scam they've been running on XRP army dumb fks for years. IMO they'll probably settle, but the damage is done to any real institutional clients and XRP business future, SEC has laid it all out beautifully to this scam.

^ That was my take too. This is closer to the ******** lawsuit where they had to refund investors in full.

If Ripple has to refund all investors, that is the end for XRP. They've already spent or distributed a significant portion of the ill-gotten gains to parties down the line; the investors will be lucky to get pennies on the dollar.

I was surprised when they ruled that ETH wasn't a security. I felt like any project that held an ICO would find it difficult to defend against being a security.

I bought some xrp at this level........lol.

Great post manjay.

feel like the entire market is going to have a.... ripple effect....big time correction is looming imo.

Took all my xrp and placed it into btc.

Seems like all coins but btc and eth are ****coins.

is it safe to say an alt season won't be happening?

It already happened....Defi bluechips

Were BTC maximalists right in 2017? So far they have.

My Sats have been bled to a third of their original size.

Anyone have a lowish-leveraged short on XRP_USDT Futures?

Short me down to $0.01

Hnnnnnnnnnnnnnng

XRP market cap is down to 11.5 Billon was 15 Billon this morning - back to 9 cents by Friday

My man.

Yield farm solid projects. Stack sats with profits. Rinse, repeat. If you've been in this space for than a couple years, and still haven't come up with a consistent plan for gains, time to step away. Taking a spot position on a random alt and holding long term is the worst play percentage wise.

What is there to correct?

I just want my money back

Get rich quick rarely works. Deal with it.

it does if you sell, me and will sold right before the snapshot of flare.

Seemed like a logical move.
Would have been tempted to buy back around 2200 sats though, but another ****coin saved me from making that error

99% of coins trend to 0 against the king. They were never wrong, only an extremely quantity of alts appreciate or maintain their sats value on your entry price.

Alts are either a short-term play where you sell after a rapid increase in sats on a short time scale, or your information asymmetry on an alt is so strong that you know for certain it will beat BTC on a slightly longer 6 month to 2 year time cycle (i.e. Aave, Synthetix, perhaps Chainlink, YFI - You can count these projects on one hand).

Dotted black line is BTC, the coloured lines are all alts:

What happens to the spark tokens?

Or you could have been wrong. Profit comes from risk. Risk is luck and luck evens out over time.

Feeling pretty comfy, I´m still way in the green. If you hold chitcoins, you should be worried. All the noobs are running from chitcoins to another chitcoin (BTC). I think we have a lot of bearish news in front of us the next months. What more bullish news is really left? Not much it seems, it´s time for the wave of bearish news. I mean what more bullish news can come from Bitcoin?? I can´t think of any realistic ones. It´s just bear bear bear all the way down.

I always had the theory that we will have another bear market to kill of the scams, before we can have another bull market. The bear market comes in perfect time with stricter regulations, great reset, CBDC, etc.....Lets see. Feels like we are running out of fuel. Start of the new year has usually been BEAR time for crypto. Noobs buying into the december pump, then smart money takes profit after that and a new generation of bagholders are created.

I’m here to make money, and I’m making a simple bet. The timing of this lawsuit is hella sus. So yes, I sold at .55 and rebought at .25

It’s certainly NOT with 90% of my stack like before but I put about 20% into this new position. Will be fun to see how it plays out.

Anyone picking up some ripple here? These flash sales don't happen often but damn I hate xrp. BTC looks a little droopy which could be bad news for xrp. But in sats, this is a historic bottom for xrp. Tempting very tempting.

So my buy on XLM looks like it might save me after buying LINK last week lmao

Good job on the XLM buys. That was a stupidly irrational dump just because it tends to move with XRP

Livecoin looks like it's hacked.

I took the gamble just now myself all in on XLM -