Sec vs Xripple and in the future vs BTC? Is it correct?

[yazher]

I know this is a bad day for Ripples since they are caught red-handed and as you can see the price of XRP in the market, if not stopped, is now falling towards a new All Time low. I wonder how would they recover from this kind of disaster. What will happen to BTC? I think BTC has nothing to do with it though. The price of BTC still remained at its ATH and it will continue to rise until next year because everything about Bitcoin nowadays is good news.

[leea-1334]

Well tough news but this is not the first time that US regulators have acted against the interest of actual paying customers,,, and in the end most customers lose after long legal process (because regulators will also confiscate funds and try to return proportionately) after fees of lawyers and court battles etc.

But in the long run, they just want to prevent more new customers from losing more money.

Do not trust your money with centralized entities and especially those not regulated that is all.

[jqprez]

You cannot compare Ripple to neither BTC or not even ETH.

As of today, BTC is still being mined by people willing to put their own time and investment into maintaining a mining setup. There is no centralized party that asks you to buy bitcoin or invest in mining it.

Even ethereum has a mining system but they are now dreading dangerous waters with the PoS model. Otherwise, the emissions are fair enough, although unlimited, which can again be a point of contention.

Ripple on the other hand is a classic premine. What else do you need as proof except the fact that the founders have made over 600 Million dollars by selling billions of the tokens that they simply gave to themselves? Ripple is basically the biggest fish. The next target i believe are going to be the stablecoins, exchange coins like BNB and any of the other tokens issued by major, well-known entities in the space.

Ethereum conducted their ico in 2014 same xripple: the investors are given tokens in return for their investments.

[Altcoinsintel]

Ripple was what SEC explained, a never-ending ICO. You got Rippled and the problem is that even the most loyal XRP follower knew this was a scam all along.
What do you think of having a company pre-mining 100 Billion coins and holding most of them in wallets that were opening every month selling a hundred million?

To not repeat this, and save investors from losing their money due to disinformation and extreme shilling, top exchanges will require to delist this coin.
Coinbase wasn't very eager to list it anyway so the time will be right for them.

[bttmember]

The SEC (security and exchange commission) caused xripple to collapse and now who will pay back investors?
The sec can act on the company on USA not on what it has produced and that 95% of customers (who are not Americans) own. They are certainly not stock exchanges. Then, if the SEC also wants to regulate casinos, what credibility will it ever have in the future? But then, since it would be a share, why didn't it close on the downside? What safeguards would the sec provide?

https://www.sec.gov/news/press-release/2020-338

I am just worried about the fact that if SEC becomes hyper active and we start seeing such actions against top coins as well then what will happen, it can really hurt the market and throw things down the drain. I still hope SEC will revise their strategy especially against well established top coins.

[Tash]

Best Christmas news. This scam is operating way to long already, selling magic fairy dust.

[jqprez]

Xrp is the 4 th crypto for capitalization after BTC ETH and USDT . Can be ripple to be damaged to sec? I think of yes cause the big lose of value. It is born in 2012 why do you remember today of action against this coin? Or do you want start action vs top coins?

[serjent05]

The SEC versus Ripple is possible because Ripple belongs to a company. If the SEC files a case against Ripple, there are individual defendants who will face it because Ripple is not truly decentralized; it is owned. On the other hand, if the SEC files a case against Bitcoin, there is no one to whom the case is directed. There is no company either.

Indeed, that is the beauty of being decentralized, there is no point of operation, everyone who is supporting Bitcoin is scattered thru out the word.  And no company or entity owns the Bitcoin blockchain.  Probably this is the reason why Satoshi remains anonymous.  He has foresee the possible scenario if he became known.

Anyway, the SEC does not care about the investors who are now facing huge losses due to its actions. Its focus is on Ripple for illegally selling securities.

In addition, they are also focused on fines and penalties.

[jqprez]

The SEC versus Ripple is possible because Ripple belongs to a company. If the SEC files a case against Ripple, there are individual defendants who will face it because Ripple is not truly decentralized; it is owned. On the other hand, if the SEC files a case against Bitcoin, there is no one to whom the case is directed. There is no company either.

Indeed, that is the beauty of being decentralized, there is no point of operation, everyone who is supporting Bitcoin is scattered thru out the word.  And no company or entity owns the Bitcoin blockchain.  Probably this is the reason why Satoshi remains anonymous.  He has foresee the possible scenario if he became known.

Anyway, the SEC does not care about the investors who are now facing huge losses due to its actions. Its focus is on Ripple for illegally selling securities.

In addition, they are also focused on fines and penalties.

The question is if the btc turn a commodity same xripple and ethereum they can' t be quoted on the exchange in US i think

[Tash]

Xrp is the 4 th crypto for capitalization after BTC ETH and USDT . Can be ripple to be damaged to sec? I think of yes cause the big lose of value. It is born in 2012 why do you remember today of action against this coin? Or do you want start action vs top coins?

Liberty reserve was operating for 11 before it was shut down, law works slow. Very good news they finally deal with this known scam.

[fullhdpixel]

SEC can't do anything about Bitcoin because it has no central organization that it can attack. I have always said that the bad part of XRP was the fact that it was run by a company and SEC could attack that company right now, that was the bad part of XRP and now it came to light with this situation.

SEC would love to do this to everyone, every single coin if they could, but they can't, why? Because, who are you going to investigate and sue in bitcoin world? There is none, you could try to do that to Satoshi Nakomoto if you want to but the reality is that there is no Satoshi Nakomoto, at least if there is one we do not know who he is, if they knew they would have already attacked him today but since they do not know who he is, there is nobody that they could sue or investigate. Invest into things that has no centralized organization behind it.

[jqprez]

SEC can't do anything about Bitcoin because it has no central organization that it can attack. I have always said that the bad part of XRP was the fact that it was run by a company and SEC could attack that company right now, that was the bad part of XRP and now it came to light with this situation.

SEC would love to do this to everyone, every single coin if they could, but they can't, why? Because, who are you going to investigate and sue in bitcoin world? There is none, you could try to do that to Satoshi Nakomoto if you want to but the reality is that there is no Satoshi Nakomoto, at least if there is one we do not know who he is, if they knew they would have already attacked him today but since they do not know who he is, there is nobody that they could sue or investigate. Invest into things that has no centralized organization behind it.

Read this way it is interesting. Attacks the company that issued ripple to force it to sell 51%.Or alternatively ripple pays taxes.
As for Satoshi at this point I think someone has eliminated him. Among other things, all those who, in some way, had anything to do with him have died. The thing was getting too big. But if something has to get big, you can't stop it.

[Maslate]

Ripple could be shut down because it's centralized, and this is a big challenge for Ripple now. While bitcoin is into a bull run, something bad is happening with ripple, and Sec would not stop doing their job, so I don't think I could still trust the future of Ripple.

There's a reason why people are into panic now, well, they maybe can play as they are holding a big chunk of the total supply, but that would not last for the team, Ripple might continue to struggle until it loss supports from its investors.

[amishmanish]

You cannot compare Ripple to neither BTC or not even ETH.

As of today, BTC is still being mined by people willing to put their own time and investment into maintaining a mining setup. There is no centralized party that asks you to buy bitcoin or invest in mining it.

Even ethereum has a mining system but they are now dreading dangerous waters with the PoS model. Otherwise, the emissions are fair enough, although unlimited, which can again be a point of contention.

Ripple on the other hand is a classic premine. What else do you need as proof except the fact that the founders have made over 600 Million dollars by selling billions of the tokens that they simply gave to themselves? Ripple is basically the biggest fish. The next target i believe are going to be the stablecoins, exchange coins like BNB and any of the other tokens issued by major, well-known entities in the space.

Ethereum conducted their ico in 2014 same xripple: the investors are given tokens in return for their investments.

Ethereum is minable. Only a portion of the supply was given in the form of ICO. Ripple was a 100 billion premine out of which the so called Ripple foundation still holds 55 billion. Oh, and apparently, Garlinghouse and buddies made 600 million dollars from selling it.

Where do you think all that money went or will continue to go with retail buyers buying up this shit? All this while they do unreal marketing about how banks will adopt their platform. By the way, they portray themselves as promoters of Ripple platform. XRP itself is just a side note on the main website. They even pretend to having it open for developers. Like any sane developer would touch them with so many other easier and cheaper options available.

Its just too bad that so many people fell for their scam. The SEC should hopefully force them to compensate the retail buyers who fell for this elaborate, slick scam.

What will be interesting to see is which of the non-minable premine Alts are going to be questioned next? Those who have a lot of exposure to Alts must carefully weigh their options. BTC is and will always be the safest bet. Its fair to produce and does not promote itself except through users and the community itself. None of us have "stake" in it. We just use it because it is interesting and enables trustless exchange.

[trauchot]

Bitcoin is the most popular cryptocurrency, and I think if the SEC wanted, they would have started to sue bitcoin long time ago, but the SEC understands that they will not succeed with bitcoin, and therefore at the moment the SEC is busy investigating with Ripple and now one can only guess what will happen with Ripple.

[Tash]

........... they would have started to sue bitcoin

Who would that be?
Bitcoin does not sell any magic fairy dust like Ripple does with XRP.
Miners observe a transaction did happen, nothing wrong with that.

[abel1337]

Bitcoin is the most popular cryptocurrency, and I think if the SEC wanted, they would have started to sue bitcoin long time ago, but the SEC understands that they will not succeed with bitcoin, and therefore at the moment the SEC is busy investigating with Ripple and now one can only guess what will happen with Ripple.

It's true, SEC can't target bitcoin because they can't target something that can't be sued. It's just that ripple is a centralized organization that's why they are vulnerable to complaints like this. If ripple can't win its lawsuit, Its value would certainly affect badly. We experienced a value drop from ripple since the lawsuit publicized, How much more if they lose the lawsuit against them.

[jqprez]

Bitcoin is the most popular cryptocurrency, and I think if the SEC wanted, they would have started to sue bitcoin long time ago, but the SEC understands that they will not succeed with bitcoin, and therefore at the moment the SEC is busy investigating with Ripple and now one can only guess what will happen with Ripple.

It's true, SEC can't target bitcoin because they can't target something that can't be sued. It's just that ripple is a centralized organization that's why they are vulnerable to complaints like this. If ripple can't win its lawsuit, Its value would certainly affect badly. We experienced a value drop from ripple since the lawsuit publicized, How much more if they lose the lawsuit against them.

in my opinion the btc has already been under the attention of the sec and the european, asian and russian security committees for a long time. But it' s true: just Sec can' t target BTC.

[scottsanderman12]

........... they would have started to sue bitcoin

Who would that be?
Bitcoin does not sell any magic fairy dust like Ripple does with XRP.
Miners observe a transaction did happen, nothing wrong with that.

Nice comparison XRP with magic dust)

[hulla]

The SEC (security and exchange commission) caused xripple to collapse and now who will pay back investors?

The SEC may cause some harm on XRP market but XRP are know for manipulating the XRP market just to make profit out of naive investors and investors have been warn on several occasions not to invest in this coin but seems to be blind by the project partnership with big companies.

The sec can act on the company on USA not on what it has produced and that 95% of customers (who are not Americans) own.

The US SEC rules is well noted that any crypto company/project that can not follow the SEC laws should not include US investors.

They are certainly not stock exchanges. Then, if the SEC

What safeguards would the sec provide?

https://www.sec.gov/news/press-release/2020-338

The SEC job is to protect investors investment and maintain fairness in the market.