11–20 of 189 posts
For years I've told loved ones, friends, and anyone with a passing interest in the nascent space to avoid Ripple like the plague.
I don't understand why this hasn't happen sooner as it's been 8 years since their release. Ripple is a centralized, managed network. It's nothing like Bitcoin, Ethereum, or many other decentralized projects. Ripple is not a cryptocurrency. For years I've told loved ones, friends, and anyone with a passing interest in the nascent space to avoid Ripple like the plague.
I saw some articles where they suggested this announcement is strange It is not strange, the SEC sends what are called Wells Notices to companies and reporting companies often announce the receipt of them Ripple is not a reporting company and doesnt have an asset to report on, and coming to an agreement with the SEC on staying that way has hit an impasse, for them to announce this
> Looks like the Ripple/XRP team is sinking to new levels of strangeness. They're claiming that their shitcoin should not be called a security for public policy reasons, namely because Bitcoin and Ethereum are "Chinese-controlled". [Two relevant screenshots of the document enclosed in tweet]
https://twitter.com/VitalikButerin/status/134121951954555699...
I kind of thought the SEC had given Ripple a pass since they waited so long, but it's a pretty clear cut case if you ask me. I don't expect the SEC to lose this one. I'm not sure what the consequences will be.
https://www.townofross.org/sites/default/files/fileattachmen...
I saw some articles where they suggested this announcement is strange It is not strange, the SEC sends what are called Wells Notices to companies and reporting companies often announce the receipt of them Ripple is not a reporting company and doesnt have an asset to report on, and coming to an agreement with the SEC on staying that way has hit an impasse, for them to announce this
XRPs themselves were basically worthless, but it was required to interact with the ledger (you pay maybe 0.000001 XRP per transaction). The idea was that you pass a small amount on to friends and others interested in using it to create their wallet and start tracking IOUs, and you needed to have at least 20 XRP in your wallet.
Somewhere along the way all hell broke loose, Bitcoin got popular, crypto currencies in general got popular and XRP itself suddenly became worth something, the original concept got lost and everything seemed to go off the rails... That's when I lost interest.
I am an idiot
Just letting you know
Okay bye
If your coin can be sued by the SEC, then it's probably not decentralized.
Losing a means to convert to/from fiat currencies would drive away the vast majority of BTC traders, and possibly cause something of a bank run upon the announcement of SEC action against them.
I mean, let's be real here, the vast majority of BTC transactions aren't for goods or services.