Ripple Daily Ripple/XRP Discussion Thread 05/05/18 [Questions and Price Predictions] |
- Daily Ripple/XRP Discussion Thread 05/05/18 [Questions and Price Predictions]
- Why XRP is Legally NOT a Security (Long Post, TL;DR at bottom)
- Why Binance adding XRP/USDT is Important for XRP
- Ryan Zagone, Director of Regulatory Relations at Ripple, will be a key speaker at an FDIC forum on Emerging Tech in the Banking Sector this Monday the 7th
- ICON Partners With SBI Ripple Asia - Enable instant cross-border payments primarily between Japan and South Korea, and global scale
- Standard Chartered bank begins using RippleNet for higher transaction speeds
- How Ripple (XRP) Is Slowly But Surely, Getting To The Top
- What is your opinion on SEC's may 7th decision?
- Ledger Wallet Ripple Version 1.1.1
- Price prediction after SBI launch?
- If XRP isnt a security, does capital gains tax still apply?
- Is It Right Time to Invest in Ripple?
- Thought provoking question
- Keep my XRP in Bitstamp or Binance?
| Daily Ripple/XRP Discussion Thread 05/05/18 [Questions and Price Predictions] Posted: 05 May 2018 01:14 AM PDT Hello! It's Saturday. Welcome to our daily discussion thread. Put your commentary in here. Make sure to read the rules before you post: https://www.reddit.com/r/Ripple/wiki/rules Also, make sure to report any comments or posts that don't follow the rules! If you would like to have more discussions with Ripple supporters, please feel free to join our social channels Discord, and some features in our Discord:
The invitation link - https://discord.gg/qgfVERN One aspect of our subreddit is clear transparency. If you ever feel like a moderator is abusing their position of power please review their actions in our public mod logs here. Make a modmail, or pm /u/Bonkill to appeal a moderator action or if you discover any issues/mods overstepping their roles. [link] [comments]  | ||
| Why XRP is Legally NOT a Security (Long Post, TL;DR at bottom) Posted: 05 May 2018 08:52 AM PDT Hey all Just got back from a camping trip and I'm hearing all this noise and worry over XRP being labeled a security. Frankly, I can't believe anyone would even think up of some nonsense like this so let me clarify why XRP cannot be branded as a security for any reason: THE HOWEY TEST https://consumer.findlaw.com/securities-law/what-is-the-howey-test.html I see a lot of BS arguments linking back to this. The above link provides you proper context "The "Howey Test" is a test created by the Supreme Court for determining whether certain transactions qualify as "investment contracts." If so, then under the Securities Act of 1933 and the Securities Exchange Act of 1934, those transactions are considered securities and therefore subject to certain disclosure and registration requirements." And it breaks down like this: 1) It is an investment of money/assets 2) There is an expectation of profits from the investment 3) The investment of money/assets is in a common enterprise 4) Any profit comes from the efforts of a promoter or third party Let's start by breaking this down point by point. 1) Ripple specifically states that XRP is not meant to be used as an investment vehicle. The courts do not care if YOU feel it's an investment or if that's what YOU think you're doing, they care if it is being sold, branded, and understood by institutional players as such. And as we know from Ripple.com as well as the news we've seen this year, XRP is currently IN USE by institutions for its intended purpose(s) and not as a form of investment in Ripple. 2) Not a single soul has promised that XRP will go up in value while you hold it or even at all. Yes, we all understand that to do what it wants to at the end of the day it should, but that by no means guarantees a profit to anyone for anything in any way. If you buy a videogame and hold onto it for a couple decades, its value is almost BOUND to go up, especially if it's from a 1st party developer, that by no means defines those games as securities because they have uses and are not tied in value to their parent company. 3) There is no common enterprise. "Most federal courts define a common enterprise as one that is horizontal, meaning that investors pool their money or assets together to invest in a project." <-- I would LOVE to see someone argue that buying XRP off of an exchange is somehow funding Ripple. This is not an ICO, Ripple makes money by selling off their own software to other companies just like Apple, Microsoft, etc. They do not make money from people buying XRP as a concept and more people holding XRP does not somehow amount to Ripple gaining more money. 4) "The final factor of the Howey Test concerns whether any profit that comes from the investment is largely or wholly outside of the investor's control. If so, then the investment might be a security. If, however, the investor's own actions largely dictate whether an investment will be profitable, then that investment is probably not a security." <- As it so happens to be, the price of XRP is entirely determined by the people buying and selling it. Ripple does not determine the price of XRP and is in fact under myriad self-imposed contracts so that they have a maximum point of sales SO AS NOT TO AFFECT THE PRICE. We also know that this market is ENTIRELY manipulated by the "investors" much to the chagrin of most institutions, this is such a prominent problem that the words "...but what about the volatility..." make all of us collectively bite our lips so as not to smack the nearest CNBC pundit. And beyond the above points the following is also true: A) XRP's ledger was invented before Ripple Labs/Ripple came into existence. Ripple cannot be the issuing party. B) Ripple's stash of XRP was legally gifted to them by the inventors of its ledger, and so any sales of XRP are not only perfectly legal, but because of its original gift status, it can't be considered as an intrinsic part of the company itself and its wellbeing is completely up to adopters and people who use it. C) It can be USED. It is a TOOL. The fact of the matter is, securities only have value in that they can be spent as value. The whole reason securities are regulated differently is because they rely on a promise of value attachment. You can't do anything with stocks except hold them, trade them, and sell them. XRP has proven use cases from MULTIPLE institutions leading all the way up to Central Banks around the world. D) XRP functions completely and totally independent of Ripple. Yes, Ripple has chosen to up its adoption and build enterprise software around it, but that doesn't mean that the XRP Ledger wouldn't work on its own. In fact it has been just fine for almost 6 years and is the most liquid decentralized exchange on the planet. No joke. and E) You receive no special rights from buying XRP. You do not own a part of Ripple. Period. And even after all of this. Let's not forget, they have Benjamin Lawsky on their board of directors and they have an entire wing of their own company dedicated to compliance. I sincerely doubt the originator of the US's first real crypto legislation is going to let the SEC stay uninformed enough to brand it a security. Also considering they have members of their team advising the Fed for the Faster Payments Task Force, Ryan Zagone confronting Parliaments/Governments/Institutions globally as Director of Regulatory Relations as well as Chris Larsen being on the board with IMF, I SINCERELY doubt that anyone in government responsible for these calls is still in the dark. Ripple has also made a sincere effort in making sure people understand that XRP is not a security and they TEND to get their agenda across. https://www.cnbc.com/2018/04/12/ripple-says-its-cryptocurrency-xrp-is-not-a-security.html TL;DR: When you buy XRP, you're buying software. No one promised you profits, Ripple even says it isn't for investing purposes, you have no shares in any company, Ripple cannot do anything to affect the price directly, and you have many ways to use it that are currently functional and demonstrated by institutions. They also have the best guy possible for legal and regulatory clout, so I SINCERELY doubt that anyone responsible and objective should think that XRP is a security. ----------------------------------------------------IMPORTANT EDIT-------------------------------------------------------------- https://twitter.com/BankXRP/status/992779266562625536 As it so happens, in the time since I've posted this, it's been announced that Ryan Zagone, director of regulatory relations at Ripple, will be a key speaker at a 7 hour forum held on Monday (the day of the SEC's ruling) to talk about the many possible USES of emerging fintech for banking, and it's hosted by the FDIC. PRETTY sure this brings the point home just a bit more. [link] [comments]  | ||
| Why Binance adding XRP/USDT is Important for XRP Posted: 05 May 2018 01:41 PM PDT
 | ||
| Posted: 05 May 2018 02:09 PM PDT
 | ||
| Posted: 05 May 2018 05:44 AM PDT
 | ||
| Standard Chartered bank begins using RippleNet for higher transaction speeds Posted: 05 May 2018 04:35 AM PDT
 | ||
| How Ripple (XRP) Is Slowly But Surely, Getting To The Top Posted: 05 May 2018 07:13 AM PDT
 | ||
| What is your opinion on SEC's may 7th decision? Posted: 05 May 2018 04:35 AM PDT No fud, just curious about your point of view. The SEC is going to decide on the may 7th if etherum and other currencies (so may be Ripple) are securities However i read that for etherum the strong argument is that, it won't be declared a security because it can be mined, so i wondered what are the arguments for Ripple ? [link] [comments]  | ||
| Ledger Wallet Ripple Version 1.1.1 Posted: 05 May 2018 11:27 AM PDT I noticed that on the Github page for the Ledger Ripple Wallet, the latest version of the desktop wallet is technically 1.1.1 but it is labelled "Pre-release." My question is is this version okay to install or should I wait until it pushes to release mode? [link] [comments]  | ||
| Price prediction after SBI launch? Posted: 05 May 2018 09:01 PM PDT Given that SBI has 8 million users and the CEO is expecting it to be number 1, what price are looking at if it is true that XRP is indeed the exclusive trading pair? [link] [comments]  | ||
| If XRP isnt a security, does capital gains tax still apply? Posted: 05 May 2018 07:44 PM PDT Always thought it was a good thing that XRP was a security because you would only have to pay 15% after holding it for a year if it's not a security don't you have to pay a higher tax rate? Please advise. [link] [comments]  | ||
| Is It Right Time to Invest in Ripple? Posted: 05 May 2018 11:48 AM PDT
 | ||
| Posted: 05 May 2018 04:54 AM PDT Why would a money transfer company like WU announce that they are using XRP? Wouldn't it be more strategic to keep it hidden, lower their fees to beat all other competitors and let the profits roll in? [link] [comments]  | ||
| Keep my XRP in Bitstamp or Binance? Posted: 05 May 2018 11:38 AM PDT I want to keep all of my XRP in one exchange. I have Binace and Bitstamp. I like them both but as for my XRP I want yo keep it in an exchange that's liquid. I wanna be able to withdraw if need be. Binance has USDT pairs which I'm kind of affraid of and Bitstamo has USD pairs which make me more comfortable. What do you guys recommend? [link] [comments]  |
| You are subscribed to email updates from Ripple. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment