Thread by @UtilityFTW

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.

2/16

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.

3/16

The "Bitcoin Problem" necessitates a solution that fulfills the following criteria:

✴️Superior Performance & Efficiency
✴️Environmentally Sustainable and Carbon-Neutral
✴️Decentralized
✴️Trustworthy & clear origin trail
✴️Demonstrated Stability and Reliability

4/16

Competitors emerged to challenge... #XRP in 2012 and #Ethereum in 2015.

The race to outperform Bitcoin was the easy part, but a crucial factor was the decentralization of the network. The ultimate victor had to be decentralized in order to surpass Bitcoin's position.

5/16

Regrettably, it seems that one of the contenders opted for corrupt means to attain the label of being decentralized and a non-security.

However, there exists a significant issue with this deceitful arrangement - it was NOT LAWFUL.

6/16
@JohnEDeaton1
crypto-law.us/the-ethereum-f…

The core issue?...

"whether a digital asset offered as a security can, over time, become something other than a security."

In 2018, the "Hinman Speech" granted Ethereum a "Free Pass," which was essentially a declaration that ETH was not a security.

7/16
sec.gov/news/speech/sp…

The speech includes 7 statements that begin with "I believe," "my thinking," or "my understanding."

No law degree needed to recognize that the speech reflects Bill's personal opinion and does not constitute a legally binding declaration of Ethereum's status.

8/16

Crypto Lawyer Lewis Cohen of @DLxLawLLP, emphasizes that there is currently no existing legal precedent for the SEC to ascertain whether or not a digital asset has transformed from a security to something that is considered "other than a security."

9/16

https://twitter.com/digitalassetbuy/status/1630567609916588033?s=20

To substantiate the fact that Ethereum was not granted a LEGAL "free pass", only 2 days ago, Gary Gensler reiterated that Bitcoin remains the only cryptocurrency that is not considered a security. Gary is NOT in Ethereum's pocket.

10/16

cryptopotato.com/sec-chair-reas…

The industry needs a definitive LEGAL instance of a digital asset's transition from being a security to becoming a decentralized non-security. However, if such an example was indeed set by ETH, why aren't they embroiled in a lawsuit with the SEC to acquire that clarity?

11/16

The law doesn't require an additional instance of a cryptocurrency being designated a security since there are numerous such examples. What the law needs now, is an example of a cryptocurrency that was previously considered a security but is no longer categorized as one.

12/16

SEC vs. Ripple lawsuit purpose is to obtain a LEGAL divorce of XRP from Ripple and to accomplish two things: 1) Establish a legal precedent, 2) establish the primary challenger to the Bitcoin Problem. We are currently witnessing this event as it unfolds before us.

13/16

As numerous individuals have expressed, we are witnessing the Ripple Test evolve. We are observing XRP assert itself as the primary solution to the Bitcoin Problem and determine the industry's direction for the world. It was always the inevitable outcome to face the SEC.

14/16

Now is the time to establish the Ripple Test amidst global monetary authority regulations for digital assets and stablecoins.

XRP requires a legal divorce from Ripple to finally stand on her own. XRP is a changed woman and its time for her to live her best life! 🤣

15/16

XRP excels in all aspects required to dethrone the king and serve as (a) pillar of the new financial system.

This is what first-mover advantage in the regulated cryptocurrency industry looks like.

XRP no longer belongs to Ripple, but rather the world.

16/16

@stedas