Discover and read the best of Twitter Threads about #Xrp

Most recents (24)

🚀💼 #SECvsRipple: Despite their initial confidence, the SEC's case against #Ripple is looking increasingly shaky. Here are the top reasons why they're likely to lose. Grab some popcorn and let's dive in. 🍿👀 #XRP #Crypto $XRP 1/5
⚖️🔎 First up: Lack of clarity! The SEC has long struggled to provide clear guidelines on what constitutes a security. This lack of regulatory clarity puts them at a disadvantage, as Ripple can argue they were never explicitly told they were breaking any rules. #FairNotice 2/5
🌐💡 #Ripple's utility: XRP's widespread adoption for cross-border transactions and remittances is undeniable. This global use case strengthens Ripple's argument that $XRP is a currency, not a security, and therefore outside the SEC's jurisdiction. #XRPCommunity 3/5
Read 6 tweets

It will not be..
❌the Digital USD
❌the Chinese Digital Yuan
❌any PoS protocol

It will be..
✅100% neutral
#XRP and #XLM as global #stablecoins

The US Dollar has been the backbone of global monetary flow for decades.

In 1971, the US officially dropped the gold standard. This step "removes the underpinnings from the worlds money"

This change meant that the global payment currency no longer possessed any intrinsic value. Its value was solely derived from the confidence of the world's economies that the USD was secure and stable enough to be held and transacted with.

Read 26 tweets
Most rational thinkers among us believe that #ISO20022 implementation will not lead to a pump in #XRP. I fully see the logic in that conclusion.

BUT WHAT IF... that is a manufactured narrative to keep us out before the "Big Bang"? This too could be logically argued.
"Just a messaging standard"
"Its been around since 2014"
Read 5 tweets
We love what @jacksonfall has been doing with #HustleGPT so we’re doing our own crypto edition!

The lowdown: We’ve given #GPT4 a budget of $100. We’ve instructed it to make as much money as possible.

Can GPT-4 navigate the choppy crypto waters and stay green?

A thread 🧵 Image
To get it up to speed, we fed GPT all of our Markets News stories over 7 days, a selection of our most viewed stories over the same period, plus a round-up of 2021 and 2022. Here’s what #GPT4 thinks. Image
OK, it looks like #GPT4 is playing ball. We're a go! This is what it’s asking us to buy.

$50 to Bitcoin (#BTC)
$25 to Ethereum (#ETH)
$15 to Cosmos (#ATOM)
$10 to an NFT or Web3-related project 🤔 Image
Read 20 tweets
I said from the first day this case was filed that it was a major mistake for the SEC to sue @bgarlinghouse and @chrislarsensf individually, in a non-fraud case, alleging aiding and abetting. It placed a higher burden for the SEC to meet.
The SEC must show that the 2 executives were reckless from 2013 in not knowing #XRP was a security. The SEC must prove they were reckless in not knowing XRP was a security in 2013 despite the fact SEC enforcement lawyers were allowed to own and trade XRP until 2019 (6 yrs later).
Compare that reckless burden - going back to 2013 - with the fact that in October 2020 - 2 months before the lawsuit - the SEC stated to the public that no determination had been made regarding whether #XRP was a security and it may NEVER make such a determination.
Read 9 tweets
[1/🧵] Beautifully crafted thread. 👍

Even though I mostly agree with everything expressed, there are some mistakes made based on terminology starting with the word "token".

A thread (🧵) about my opinions, which are hopefully more uplifting. 👇
[2/10] Let's start with a definition of "token" and see if we can locate a suitable statement in the #web.

What is a token ❓
❝ A crypto token is a representation of an asset or interest that has been tokenized on an existing cryptocurrency's blockchain. ❞ Source:
[3/10] Even if the distinctions are small, claiming that #XRP is a token is strictly incorrect since #XRP cannot be a token.

Because #XRP has no issuer, it cannot exist as a tokenized representation of anything. XRP  XRP is the native cryptocurrency of the XRP Ledger. All
Read 11 tweets
I defend secondary market sales of #XRP as well as other tokens sold in the secondary market (ie #LBC), not @Ripple or @LBRYcom.

When I sued the SEC, people immediately called me the #XRP Attorney even though I disclosed up front that I owned more in #BTC & #ETH than #XRP.
I was shocked that more people didn’t read the Complaint 🆚 Ripple the way I did - b/c it attacked the token itself and didn’t focus on the circumstances surrounding the way Ripple offered and sold #XRP.

Many allegations about #XRP applied to all other tokens.

For example:
“The nature of XRP itself made it the common thread among Ripple, its management, and all other XRP holders.”

The “nature of XRP itself”?

Wtf does that even mean?

The SEC is asserting that by simply owning a token you are in a common enterprise with ALL other token holders!
Read 18 tweets
A lot of people are speculating on why @Ripple would file this now. Some people are saying its b/c Ripple knows it will lose or b/c they’re less confident. It’s a very simple reason why it was filed. The decision is from the Supreme Court and it was handed down only 4 days ago.
Judge Torres could possibly file her decision at any moment (or it could be 2 months longer). The point is: this isn’t a decision from a federal district court or even an appellate circuit court. This is a U.S. Supreme Court decision decided on February 28, 2023 - 4 days ago.
The Supreme Court’s decision is relevant regarding one of Ripple’s Affirmative Defenses: The Lack of Fair Notice violates the Due Process clause of the U.S. Constitution.

People overthink and try to look for reasons other than the obvious one.
Read 7 tweets
XRP and Ripple: A Divorce made in Heaven

In this thread I will outline my beliefs that the SEC vs Ripple Lawsuit is actually the best thing we could have asked for as #XRP holders, users, ecosystem members and community.

It was never #BTC or #ETH🧵
#Bitcoin is often considered the pioneer that offered the world a sneak peek into the future of digital finance. However, if you haven't fully embraced its cult ideology, you may have noticed that the global system is not interested in it.

While some people believe in the purity of Bitcoin and view it as an organic manifestation born out of necessity, I, like many others, consider Bitcoin to be controlled opposition.

But this opposition and the idea of such still requires management and a solution.

Read 16 tweets

Shouts: @globiance @Oliver_LaRosa #gbex #xdc
@SeanoftheWoke @aaoominee @XRPLSTRONG @lgcyxdcxrptop3
#xrp #xlm #celo #qnt
@CryptoReady11 Shouts 🖤
@stefixy video clip. Greatly appreciate
Read 3 tweets
Portfolio: Recently announced #Ripple partner Choice International (UK), is a co that supports money transfer businesses especially with de-risked nations requiring tight AML/KYC; places where liquidity is difficult. So how are they using ODL?
2. The main co offers all manner of services including cards and white labeled mobile apps.…
3. Choice International also has a forex division, which seems like the most obvious ODL implementation. What is notable about their forex business is that they only facilitate tx's for tangible goods, b2b. -There is an invoice for every tx.
Read 8 tweets
I always like to back up anything I say with facts - explaining why I believe the way I do. In the next tweet 👇 of this 🧵, I’m going to quote the @SECGov’s summary judgment argument 🆚 @Ripple. The following quote perfectly summarizes the SEC’s theory in a nutshell:
“Defendants do not dispute that they offered and sold XRP in exchange for ‘money’, which suffices to establish the ‘investment of money’ aspect of the Howey test. Defendants’ statements and efforts as to XRP...establish the other aspects of the Howey test as a matter of law.”
Now that’s an interesting way to approach the Howey Test. I’ve said in the past that the SEC is attempting to apply the functional equivalent of the “BUT FOR” test to securities laws.
Read 13 tweets
It is mind boggling and absolutely infuriating how lawyers and staff at the SEC and others keep talking about the tokens themselves as being securities.

#Bitcoin is a digital asset that was once packaged, marketed, offered and sold as an investment contract aka a security.
Just b/c #BTC was utilized by someone as a security, didn’t turn #BTC into a security.

Beavers 🦫 were once offered and sold as an investment contract. 🦫s remained 🦫s, not securities.

Condos and Chinchillas were sold as investment contracts. They didn’t become securities.
If @Ripple offered or sold #XRP as an investment contract at some point during its history - or even if it does today - it does not make #XRP a security. #XRP remains digital code.

The Judge in @LBRYcom ruled LBRY sold #LBC as an investment contract when it made DIRECT sales.
Read 19 tweets
During this 🧵, I share the interview I did w/@Jay_SpendDBits well over a year ago when I was researching the #XRPLedger and independent developers who have no connection to @Ripple or its executives.

@Spend_The_Bits is a PERFECT example of what’s wrong w/the SEC lawsuit.
In fact, there have been 15 Amicus Briefs filed in the @Ripple case and if Judge Torres were to inform me that she was only going to read one Amicus Brief but was going to allow me to pick the one she reads, I would tell her to carefully read the @Spend_The_Bits Amicus Brief.
The @Spend_The_Bits Brief may be the best at demonstrating how flawed the SEC’s all-encompassing #XRP theory is.

Like most in Crypto, Jay read the #Bitcoin White Paper and bought #BTC
He knew #Bitcoin was going to be part of the future and decided to develop a payments app.
Read 25 tweets
“The same reasoning applies to digital assets. The digital asset itself is simply code. But the way it is sold – as part of an investment; to non-users; by promoters to develop the enterprise – can be, and, in that context, most often is, a security.”

- Bill Hinman, 06/14/2018
Notice that the asset is more a security if it is “sold as part of an investment - to non-users - by promoters.”

Clearly, #LBC users w/in the @LBRYcom Blockchain who didn’t purchase the tokens from LBRY or its executives DO NOT FIT with what Hinman articulated.
Read 25 tweets
[1/🧵] — #XRPL (#XRP) vs. @Ripple #CBDC

A short thread comparing and contrasting the #opensource public #decentralized #XRPLedger with #Ripple's private #CBDC Ledger based on XRPL👇 Source:
[2/6] ▶️ What do central bankers expect?

#Interoperability — ILP
#Security, #Trust & #Speed — Unregulated
⚠️ #OverlayServices — Hooks and @EvernodeXRPL
#Access and #Inclusion — XRPL-DEX & AMM
#Stability & #Resilience — 10+ years old (XRPL) Source:
[3/6] ▶️ Why does it have to be a private solution?

With proven security & all of the #XRPL Tooling at its disposal, the only thing a CB lacks is "control" of the gov. process.

Gov. on the #XRPL is conducted through amendments and voting, which cannot be controlled centrally. Source:
Read 8 tweets
My sunday (finctional) story.

#SinatureBank #Binance #HydraMarketplace #Swift #DOJ

We all remember the big announcement DOJ did just few days ago. We all were expecting a huge result, also because CZ has teasered a big FUD against Binance will happen soon

before. Something that could bring the crypto space in trouble. Instead they announced the arrest of someone nobody in the space knew before, Anatoly Legkodymov. The owner of Hydra Marketplace. Of what? Yes, right. Almost nobody knew him or his company before last tuesday night
before they arrested him in Miami.

The DOJ said about Hydra following:
“Bitzlato’s largest counterparty in cryptocurrency transactions was Hydra Market (Hydra), an anonymous, illicit online marketplace for narcotics, stolen financial information,…
Read 13 tweets
If institutional and big bankers is utilizing XRP to transfer from millions to trillions of dollars at ease with the speed of 3 seconds settlement can you imagine they can use this to transfer billions to quadrillion of dollars maybe more to fun extraterrestrial at ease in the
most trusted ways possible. By the time we reach this information in real time and era XRP probably worth few millions per coin.
Extraterrestrial technology for Human Resources and XRP can be our golden egg to offer them. They sure do like gold and XRP is technically better than gold. Imagine tokenize gold into xrpl and trade it in decimal of fractions worth of that gold in xrpl. Cheap and fast to send.
Read 9 tweets
Can the XRPL represent the value of everything, all at once? Can $XRP be backed by gold? Both questions seem related to misunderstanding what $XRP is & how it functions, a boorish, simple🧵/14.
(Note: just condensing All misunderstandings are mine.)
2. First, according to there are 2 types of assets on the XRPL.
1. XRP
2. Tokens.
That's it.
Two categories with different properties. Honestly could end the thread here. But I'm avoiding work, so here goes...… $XRP
3. $XRP is the ledger's native token. It can be sent anywhere, from anyone & receipt is settlement. Don't have to wait for anything more. It secures the network as payment of a very small (but traffic scaled) tx cost & a required reserve for an account.
Read 16 tweets
What is driving the current rally? Spot or Derivatives?. Well, let us check. Derivative went up like hell while the price pushed up. As mentioned many times, you can't drive the spot price with futures.

Obvious you need to buy spot to support the futures to drive the spot price.

Spot was a driver between Jan 02 until Jan 11. Afterwards mainly futures.

Summary: If we take CVD as indicator as algos use market trades to complete their operations we can see, that since Jan 11
BTC futures with stablecoin colleteral increased by almost 240,000 BTC since then.

BTC futures with BTC colleteral increased since Jan 11 by almost $380M.

At the same time Spot with USDT and BUSD pair on Binance. Even with a limited skills it should be clear, what is driving
Read 4 tweets
Here is how the Judge could give Ripple an outright win. People are focusing on the pre-1933 Blue Sky argument. That argument is for the 2nd Circuit and Supreme Court. I don’t believe Judge Torres agrees with that argument although the current Supreme Court could.
I’m not saying it will happen. I’m just addressing Jay’s concerns or thoughts.

The judge could absolutely get around Ripple’s sales of #XRP b/c the SEC didn’t go transaction by transaction applying the Howey test to each transaction. Instead it went w/ what I wrote in my brief. ImageImage
Essentially the SEC is applying the old “But For” causation test in this case. The SEC essentially argues but for Ripple executives (Jed, Chris) creating XRP, XRP wouldn’t exist. But for Ripple helping create a secondary market for XRP, a secondary market wouldn’t exist.
Read 12 tweets

Michael Hsu - Acting Comptroller of the Currency.
One way to mitigate risks.
Stablecoin issuance must be conducted in a standalone chartered entity, separate from other insured depository institutions and other regulatory affiliates.……
Stability, interoperability and separability are preliminary policy factors to consider in the architectural development. Other core values such as privacy, security and preventing illicit finance may also have architectural implications and warrant discussion.…
Read 4 tweets
Common enterprise is a real problem for the SEC in this case. And #XRPHolders, as amici curie, have contributed a lot on the issue.
Remember, initially the SEC argued that @Ripple was the common enterprise. Two things then happened: 1) Ripple forced the SEC to admit owning #XRP gives #XRPHolders ZERO rights or interest in Ripple and Ripple owes #XRPHolders absolutely nothing; and
2) #XRPHolders became amici a year and half BEFORE anyone else filed an amicus request and we submitted 3K affidavits stating that the majority of first time purchasers of #XRP were unaware of the company Ripple, thousands acquired #XRP for non-investment reasons,
Read 13 tweets
Know the game so you can't be played. ~Coach JV~
I purposely chatted with a scammer for days & they told on themselves today! The wait game works every time! They blocked me! when I caught them
#XRPCommunity #bitcoin #ETH Image
THIS PERSON IS A SCAM! People new will fall for this savings agreement trash scam!
#XRP #ETH #bitcoin
within 5 mins they changed their profile name and pic. Image
The scam is to make you think you will provide liquidity using USDT on the fake savings agreement. & through your trust wallet attached to the savings agreement, you earn compounding ETH interest. 1.4-4%.
Read 4 tweets

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