Yes, I am very much going to join the “I told you so chorus” here.
#Ripple is the biggest scam in the world IMO and their useless token $XRP absolutely is a security. I have fought the Ripple army in my articles since 2017.
Well done SEC. Hope its a strong case. Don’t settle.
And yes that means #tether is only the second biggest scam (because what could be bigger than printing $30bn and DIRECTLY giving it to yourself like XRP did?).
But 👏 regulators 👏 will 👏 come 👏for 👏 tether 👏too
And don’t let brainless $XRP buddies make you believe that this is an ‘attack on #crypto’. The SEC is attacking a company that built a centralized database nobody needs and then created securities if which it kept 80% to finance their business. #ripple then dumped on retail.
This is the worst kind of behaviour you could get and the likes of $EOS, $TRX and $XRP (also $XLM) are not #crypto.
These are scams that make money by pre mining a token and then selling against YOU, while using the proceeds to mask that nobody uses their BS token.
(And no, nobody is using Ripple UNLESS Ripple has given them an “incentive” like millions in usd they got from dumping on retail or buying a stake in the respective company financed with, you guessed it, dumping on retail)
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(Another) thread about $XRP, #Ripple & why what they did was so despicable. It's not about them getting a fee & walking free, nor about whether the token will go up or down in value. It's about people understanding what this organization did to them. #crypto#bitcoin#XRP
1 - #Ripple sold something to the public that the public could not get information about. There are regulations that ensure that investors can understand what is happening with their funds and what they are investing in.
2 – Due to the information vacuum, people who bought $XRP could not know for sure what insiders do with their holdings. There was no way to see that the only thing they did was sell.
To our politicians: Rapid testing exists since June 2020. Had we produced them in a state-mandated manner & done an explanation of how to use them on national TV, plus subsidized the purchase, we could have a #lockdown free, safe life...
... where you can buy a rapid test at every little shop around the corner for 2-3 EUR (that is the production cost) and you can go about your life. These tests are not hard to use, they do NOT require a doctor to use them and while they are "only" 90-95% accurate...
... PCR is at 97% and I'll remind you the vaccine is going to be around 90% if we are really lucky. And yet, the only thing we do is sit around and wait for the vaccine and lock out flights from other countries, when the likelihood the mutated virus is already in Europe...
The question is not whether #bitcoin hits its ATH with the backdrop of #tether AND the Fed printing and stocks very strong.
The questions is whether Tether will then be content and cease their manipulations for a while or blast right on. $BTC $USDT.
Not advice...
...Note that I have been Bullish #crypto and #bitcoin personally since an end of July article, so I am not saying the entire rally was a #tether manipulation. Not at all.
However, we have to be honest: the last week or so tether and their cartel prevented any drop from...
...becoming more pronounced and protected $BTC from falling. Leveraged financing rates mean you lose 75% of your position over a year from sitting in longs if #bitcoin does not go up. That isn‘t normal, that‘s beyond euphoric and without #tether actions it will correct...
Thoughts on #markets into year end and beyond, we know:
- Fed is printing
- Vaccine is working
- Money market fund holdings still at record highs (ie money that does not earn a thing and watches in agony as markets climb)
- Biden returns calm to politics
In all seriousness though, let me attempt to explain the #tether sends to #binance.
Everybody knows that $USDT is used to paint the #bitcoin price whichever way the tether cartel members would like it, mostly upwards. There is no single Dollar in actual money coming into...
... tether. Definitely not since liquid stable coin alternatives with full KYC & AML compliance as well as regular audits have become widely available. And I am, as you can see above, in the camp of those who believe the entire #tether system is a scam. However...
... when #binance receives $USDT, the simple fact is that the exchange has long comingled usdt, other stable coins and actual usd. So when the trade volume on binance goes up, they may choose (depending on said comingling) to settle in usdt or posting in usdt, so...