/biz/ - Business & Finance

>>25124548
They are in full denial, let them sink!

We don’t know if they sell to institutions 30% below market.

SBI banking group which is the largest in is using/ will use them legitimately, but mostly because their chairman is also on ripples board and likely owns a billion xrp.

XRP has already been determined to be a currency in a federal settlement with FinCen.

The test is true.

>>25124548
Its obvious. Every xrp holder will kys in 2 years. Straight to 0

>>25124594
>will use them legitimately
Since 8 years.

>>25124548
To know if a crypto is a security, the only relevant question is "did the project lead people to expect profits just from holding".

Ripple did this a lot.
Everything else you listed is secondary, but can be used as aggravating circumstances.

>>25124594
I'm sure the SEC just made that up because fuck you

Massive manhunt is being organized to track down the XRP paid shills.
This is gonna be gud

>>25124548
It's all accurate, but what many fail to realize is just how many other coins this same description applies to.

>>25124683
well, XRP was touted to be the standard

>>25124683
See >>25124647

Only the ones that said the token price will increase.

>>25124548
My question to other XRP holders is how could to honestly not smell out the trap? Look at the amount of OMG XRP MOON YouTube creators. It’s actually cringe. The second I saw “Blockchain Backer” go from 40k subs tk 90k subs in a week, I knew XRP was forever doomed. I wisened up, and sold at the loss of a couple thousand. Lesson learned.

>>25124722
>Look at the amount of OMG XRP MOON YouTube creators
It wasn't just the Youtubers, it was fucking Ripple themselves openly being moonboys.

>>25124738
Ripple are obviously behind the bulk of social media XRP shilling, question is if they managed to cover their tracks. If they get caught operating massive shill networks they're fucked.

>>25124860
If they are exposed to be behind the shilling by others, that's just icing on the cake.
Fact is they themselves led people to expect price increases, meaning they categorically fail the Howey test. Making them a security.

>>25124548
Someone knowledgeable here, here's my reply:
All of the above is true. All of it.

>>25124548
Worst thing is they give the investors money to charities lmao

>>25124548

almost all of this is true, thats why ripple will cripple. The only thing that can be defended is if it is a security or not. Because it can be argued that ripple being a cryptocurrency cannot be viewed as a security, but more as a currency or commodity.

>>25124548
When your dime or dozen biztard or plebbitor calls Ripple a scam it's easy to dismiss it as FUD. When the SEC has a 71 page document and probably mountains of evidence to back that up detailing misleading of investors of a vaporware use case, usage of market manipulation, employees directed to circulate hype and positive news and the company CEO himself using media appearances to pump up price, it's not so easy to dismiss it as FUD. Ripple is and always has been the biggest scam in crypto and it looks like the SEC has been planning and gathering evidence for this lawsuit for years. The reason Garlinghouse and Larsen didn't accept the SEC offer is it probably involved some jail time. They probably are going to end up doing that anyway now. This isn't just selling unregistered security but defrauding investors to the tune of hundreds of millions of dollars.

>>25124953
>29 million of its currency
more like 29 million of bagholders' liquidity

>>25124986
>market manipulation
>employees directed to circulate hype and positive news
>the company CEO himself using media appearances to pump up price

These all relate to Ripple promising token price increases.
These are the relevant items that make Ripple fail the Howey test, making it a security.
Everything else is just icing on the cake.

Wow, this thread surely is organic. Smells like it...

>>25125036
The Howey Test only has to do with whether a token is deemed a security or not. But Ripple's problem is not only that but market manipulation by falsifying information and misleading investors. They mislead investors into believing that the product XRP was in demand, had utility and was used by financial services companies when it reality they were paying companies to use their software. Companies like Volkswagon have been charged by the SEC for just fucking hiding information. What XRP did was defraud investors plain and simple with a vaporware product whose only value was a ponzi.

>>25125350
Well the whole SEC smackdown revolves around XRP being a security.
Everything else is icing on the cake.

Just he fact that they misled people on its own is pretty much useless in court, but it does make things worse in the context of a larger case like this securities case.

>>25125393
It's not just the fact that it's a security. It is complete fraud. Ripple is not going to just get the EOS, KIN, etc treatment. They are going to get the Theranos treatment.

>>25125777
Checked.

>It's not just the fact that it's a security. It is complete fraud.
Well sure, but legally the fact that it's a security is the hammer that breaks the whole thing wide open.

Legally, there's not much you can do about misleading statements, exaggerations, even lies.
When Ripple treats its token as a security however, the whole thing gets thrown back at them.

Does anyone remember before the banking stuff they use to hype up tech companies adopting it? I remember around perhaps 2013 or 2014 they were spreading stories about google adopting it. Their business model has always been to claim some big partnership and dump on retail. They just never made much headway until 2017. They used to call it ripple rather than XRP presumably hoping to trick people into thinking buying ripple gave them equity in the company.

seriously, are "they" all like this at the level of the corporate elites? or this just an exception?

I can't believe these fraudsters getting away with it, if you do the same kind of research to SXP you ll end up with another ponzi reveal

>>25125874

'claim big partnership and dump on retail'

Isn't this the business model of every altcoin?

Look at this shit! WTF!!!!

https://www.youtube.com/watch?v=kEk8O6Bh1JM

they are really cult members aren't they?

https://www.youtube.com/watch?v=y5vR3oo2Ovs

Drinking the XRP cool aid for years they still can't believe XRP is a scam

>>25126454
>XRP Investment
hahahahahahahahahahahahahahahahahahahahahahaaa

>>25126518
read the comments, they are so fucking dumb, they all think it's a plot to get their cheap XRPees. This is like those people getting scammed by money preachers, normies are so fucking stupid.

>>25126454
short xrp and enjoy

>>25126567
I love that reasoning.
It's all a conspiracy to drive out the 1k bag holders, on a 100 billion supply coin, that's costing pennies as is.

I used to think that XRP is an interesting project, but after this lawsuit I sold with a small loss because it kinda opened my eyes, I'm fucking pissed for falling for this crap and I honestly hope these fucks serve jail time!

>>25124548

No, that all sounds about right.

Cripple only appealed to newfags and the totally clueless and naive.

Thoughts on galgitron? I read his blog and thought he sounded sincere but when I checked out his twitter he's just full shill mode