The Ripple Thread

Lex Luthor

bingobars wrote: »

Just anyone keep XRP in non custodial wallets or keep it all on exchanges???

I know wallet creation etc has a cost associated

In the ecosystem as a whole exchanges are far more common for XRP holdings right??

Anyway this is my interpretation on how Ripple can have these mad prices swings compared to BTC and ETH which people tend to keep off the exchanges (higher % anyway).

Thoughts

Don’t keep anything on an exchange

bingobars

Lex Luthor wrote: »

Don’t keep anything on an exchange

Of course. I think XRP users are not that way inclined compared to holders of other coins and tokens as a comparison.

Say BNB for example. Sure that’s all kept on binance. Why not??

el diablo

bingobars wrote: »

Of course. I think XRP users are not that way inclined compared to holders of other coins and tokens as a comparison.

Say BNB for example. Sure that’s all kept on binance. Why not??

Not quite sure what you're saying here.

endainoz

I use revolut to store xrp, is it safe for that?

Whelo79

endainoz wrote: »

I use revolut to store xrp, is it safe for that?

It's safe in a way that you actually don't own any XRP with revolut. You are just exposed to the prices.

el Fenomeno

Binance have announced they're supporting the Flare (Spark) airdrop.

millhouse

Can someone explain the whole "free" flare thing. If you hold Xrp at a particular date and assuming you are on one of the exchanges listed do you simply get free flare?, how will it appear, how much do they give you. Is it a case you go to bed on a particular night and the following day you wake up and a category for flare has appeared on your exchange with a certain amount of credit. I'd imagine you'll have to have the Xrp at a particular date and then must hold onto the flare for a period of time. Holding some XRP currently so very curious.

Stormhawk88

millhouse wrote: »

Can someone explain the whole "free" flare thing. If you hold Xrp at a particular date and assuming you are on one of the exchanges listed do you simply get free flare?, how will it appear, how much do they give you. Is it a case you go to bed on a particular night and the following day you wake up and a category for flare has appeared on your exchange with a certain amount of credit. I'd imagine you'll have to have the Xrp at a particular date and then must hold onto the flare for a period of time. Holding some XRP currently so very curious.

Have a read of the below article it goes through the distribution process.
https://blog.flare.xyz/further-information-on-the-spark-token-distribution/

Lex Luthor

XLM going up which probably means XRP next
Kraken and now Swipe supporting aswell

LFG

rapul

Ceo of moneygram was just on Cnn talking about ripple

makeorbrake

rapul wrote: »

Ceo of moneygram was just on Cnn talking about ripple

Doesn't Ripple own Monegram?

rapul

makeorbrake wrote: »

Doesn't Ripple own Monegram?

No something like 25% shares in the company

stockshares

Ripple is to sued by the SEC for selling XRP as an unregistered Security and not a Digitalised Asset.

News on Twitter and Crypto News Sites

https://twitter.com/CoinDesk/status/1341189247697620993?s=19

Lex Luthor

This has got to be the biggest FUD I have seen in a long time against XRP

Whelo79

Lex Luthor wrote: »

This has got to be the biggest FUD I have seen in a long time against XRP

Why? The SEC took Kik/Kin to court for the same thing and won. The end result was no more then a slap on the wrist, but it still happened.

stockshares

The Sec have charged Ripple and two Execs
https://www.sec.gov/news/press-release/2020-338

Article
The Securities and Exchange Commission announced today that it has filed an action against Ripple Labs Inc. and two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.

According to the SEC's complaint, Ripple; Christian Larsen, the company's co-founder, executive chairman of its board, and former CEO; and Bradley Garlinghouse, the company's current CEO, raised capital to finance the company's business. The complaint alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide. Ripple also allegedly distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services. According to the complaint, in addition to structuring and promoting the XRP sales used to finance the company's business, Larsen and Garlinghouse also effected personal unregistered sales of XRP totaling approximately $600 million. The complaint alleges that the defendants failed to register their offers and sales of XRP or satisfy any exemption from registration, in violation of the registration provisions of the federal securities laws.

"Issuers seeking the benefits of a public offering, including access to retail investors, broad distribution and a secondary trading market, must comply with the federal securities laws that require registration of offerings unless an exemption from registration applies," said Stephanie Avakian, Director of the SEC's Enforcement Division. "We allege that Ripple, Larsen, and Garlinghouse failed to register their ongoing offer and sale of billions of XRP to retail investors, which deprived potential purchasers of adequate disclosures about XRP and Ripple's business and other important long-standing protections that are fundamental to our robust public market system."

"The registration requirements are designed to ensure that potential investors – including, importantly, retail investors – receive important information about an issuer's business operations and financial condition," said Marc P. Berger, Deputy Director of the SEC's Enforcement Division. "Here, we allege that Ripple and its executives failed over a period of years to satisfy these core investor protection provisions, and as a result investors lacked information to which they were entitled."

The SEC's complaint, filed today in federal district court in Manhattan, charges defendants with violating the registration provisions of the Securities Act of 1933, and seeks injunctive relief, disgorgement with prejudgment interest, and civil penalties.

The SEC's investigation was conducted by Daphna A. Waxman, Jon A. Daniels, and John O. Enright of the SEC's Cyber Unit. The case is being supervised by Kristina Littman, Chief of the SEC Enforcement Division's Cyber Unit. The SEC's litigation will be conducted by Jorge G. Tenreiro, Dugan Bliss, Ms. Waxman, and Mr. Daniels, and supervised by Preethi Krishnamurthy.

Whelo79

Vitalik is not too happy with Ripples defence.

https://twitter.com/VitalikButerin/status/1341219519545556992?s=19

rapul

It's tanking

Tether has over taken in market cap

donnaille

rapul wrote: »

No something like 25% shares in the company

Even worse! Ripple pays MG to use XRP. MG found it was much more expensive than alternatives and only agreed to use it because of being paid to do it.

Lex Luthor

that escrow they hold would be a nice slap on the wrist

Lex Luthor

the bigger XRP wallets bought more XRP after the SEC announcement, this seems like a shakeout

Stormhawk88

This is gonna get much worse before it gets better I reckon.
I closed all positions until it bottoms or some better news comes out of it.

olestoepoke

Stormhawk88 wrote: »

This is gonna get much worse before it gets better I reckon.
I closed all positions until it bottoms or some better news comes out of it.

Do you think it'll survive? Might be a good time to buy as a long term investment.

Stormhawk88

olestoepoke wrote: »

Do you think it'll survive? Might be a good time to buy as a long term investment.

I would wait and see what the exchanges are going to do first. It's quite possible it will drop much lower especially if a major exchange drops it.
As a long term investment it will probably be worth it depending on the outcome but I would wait and see what happens first in the short term.

olestoepoke

I'm new to this so please excuse my ignorance. I'm thinking of investing about 1,000e to start with. Long-term investment, as in leave it alone for at least 4 or 5 years see what happens. I've been reading up and it seems the boat has sailed on Bitcoin so what's the general advice? I was thinking diversity, as in a few Litecoin and ripple. Are there any others that you guys/gals recommend. Thanks in advance.

Lexio7

olestoepoke wrote: »

I'm new to this so please excuse my ignorance. I'm thinking of investing about 1,000e to start with. Long-term investment, as in leave it alone for at least 4 or 5 years see what happens. I've been reading up and it seems the boat has sailed on Bitcoin so what's the general advice? I was thinking diversity, as in a few Litecoin and ripple. Are there any others that you guys/gals recommend. Thanks in advance.

Obviously this is not investing advice, more just fun talk.

I would consider adding Defi into your portfolio. Consider Chainlink and / or Synthetix.

Bitcoin and Ethereum are your staples.

If a €1000 is spare change to you then go all in but if not then you should consider Dollar Cost Averaging.

LedgerSuck

olestoepoke wrote: »

I'm new to this so please excuse my ignorance. I'm thinking of investing about 1,000e to start with. Long-term investment, as in leave it alone for at least 4 or 5 years see what happens. I've been reading up and it seems the boat has sailed on Bitcoin so what's the general advice? I was thinking diversity, as in a few Litecoin and ripple. Are there any others that you guys/gals recommend. Thanks in advance.

How has the boat sailed on Bitcoin lol

Grumpypants

olestoepoke wrote: »

I'm new to this so please excuse my ignorance. I'm thinking of investing about 1,000e to start with. Long-term investment, as in leave it alone for at least 4 or 5 years see what happens. I've been reading up and it seems the boat has sailed on Bitcoin so what's the general advice? I was thinking diversity, as in a few Litecoin and ripple. Are there any others that you guys/gals recommend. Thanks in advance.

Bitcoin, bitcoin and bitcoin.

If all you aim to spend is 1k, and you want to leave it alone for a few years then don't look at anything else other than bitcoin.

olestoepoke

Grumpypants wrote: »

Bitcoin, bitcoin and bitcoin.

If all you aim to spend is 1k, and you want to leave it alone for a few years then don't look at anything else other than bitcoin.

Buy now or wait for another drop?

sonandheir

olestoepoke wrote: »

Buy now or wait for another drop?

Million dollar question. Impossible to know if there will be a dip or a jump.

Best advice is to average in over a few days/weeks.

You have to consider if this is a bet or investment. If it's a bet and you are willing to lose your money for a chance to 10x it, go back a horse. At least you'll have the excitement of the race and you will know when it's over. Backing some sh*tcoin and watching it go up and down and go on for years will wreck your head.

If it's an investment I'd follow Buffets first rule of investing is:
Don't lose your initial investment.

This is closely followed by his 2nd and 3rd rule:
Don't lose your initial investment.

BTC is not gona be as exciting as an altcoin, but it has the highest probability of not losing your initial investment.

Lex Luthor

olestoepoke wrote: »

Buy now or wait for another drop?

20% per week for the next 5-10 weeks

Lex Luthor

SBI to Ripple

masterboy123

I am new to cryptocurrency. I invested in Ripple 2 weeks ago and its going down. That looks like a loss to me

Lex Luthor wrote: »

20% per week for the next 5-10 weeks

el diablo

masterboy123 wrote: »

I am new to cryptocurrency. I invested in Ripple 2 weeks ago and its going down. That looks like a loss to me

Only a loss if you sell.

Lex Luthor

https://u.today/breaking-new-pro-crypto-sec-chairman-appointed?amp&__twitter_impression=true

masterboy123

What about after couple of months? Any hope?

el diablo wrote: »

Only a loss if you sell.

Lex Luthor

The thing with XRP is, if they get regulatory clarity, its huge for the crypto industry.

The new SEC chairman is pro crypto

That was a massive shakeout in the last few days. The biggest wallets were buying up while all the weak hands were selling

I couldnt believe XRP was available again in the 25c range. Xmas came early for a lot of the hodlers.

That escrow they hold is going to come into play shortly I think.

el diablo

masterboy123 wrote: »

What about after couple of months? Any hope?

Yeah, it'll probably survive. I wouldn't sell at a loss unless it's money you can't afford to lose.

brooksrunner

With the Coinbase announcement, Are people just leaving their XRP on there or moving to a ledger.? I own some coins I bought years ago and would rather keep them then sell at feck all !
Are people moving their XRP to a ledger ?

Lex Luthor

brooksrunner wrote: »

With the Coinbase announcement, Are people just leaving their XRP on there or moving to a ledger.? I own some coins I bought years ago and would rather keep them then sell at feck all !
Are people moving their XRP to a ledger ?

its only Coinbase US that has halted trading

its probably good practice to keep any crypto off exchanges for security

leavingirl

Lex Luthor wrote: »

I couldnt believe XRP was available again in the 25c range. Xmas came early for a lot of the hodlers..

How's that working out for you? XRP dropping like a stone.

endainoz

leavingirl wrote: »

How's that working out for you? XRP dropping like a stone.

Well educated and thought out post there.

mickdw

The way i see it, xrp is a complete gamble at this point.
I sold all out at 50c a few weeks back.
If it goes under 10c, its worth a mad gamble imo. Id certainly buy back in to where i was.

leavingirl

endainoz wrote: »

Well educated and thought out post there.

I wasn't asking you.

olestoepoke

leavingirl wrote: »

I wasn't asking you.

However you meant it your post did come across as if you were gloating in a childish condescending way.

endainoz

olestoepoke wrote: »

However you meant it your post did come across as if you were gloating in a childish condescending way.

I'm not sure are they worth replying to at all to be honest. No interest in engaging with someone that brings nothing to the conversation and just goes out of their way to provoke other posters. Best ignored.

Irish_rat

Whelo79 wrote: »

Vitalik is not too happy with Ripples defence.

https://twitter.com/VitalikButerin/status/1341219519545556992?s=19

Unprofessional of vitalik to call it a sh*t coin.

The statement about being Chinese controlled is correct especially for bitcoin. Look at all the mining pools.

Irish_rat

olestoepoke wrote: »

I'm new to this so please excuse my ignorance. I'm thinking of investing about 1,000e to start with. Long-term investment, as in leave it alone for at least 4 or 5 years see what happens. I've been reading up and it seems the boat has sailed on Bitcoin so what's the general advice? I was thinking diversity, as in a few Litecoin and ripple. Are there any others that you guys/gals recommend. Thanks in advance.

Stay away from both, buy btc and eth. Dollar cost average in, buy a small bit every week. Earn free crypto using nodes and brave browser. Use the Coinbase earn app to grab free crypto.

Slowly and steady wins the race

makeorbrake

Irish_rat wrote: »

Stay away from both, buy btc and eth. Dollar cost average in, buy a small bit every week. Earn free crypto using nodes and brave browser. Use the Coinbase earn app to grab free crypto.

Slowly and steady wins the race

That's good advice. Newcomers are inclined to buy far less proven coins but it's the opposite they should do until they've learned some basics about various projects. We seem to have lost our Dollar Cost Average champion - that's a vacancy to be filled.

Bob24

Irish_rat wrote: »

Unprofessional of vitalik to call it a sh*t coin.

The statement about being Chinese controlled is correct especially for bitcoin. Look at all the mining pools.

The Chinese thing is just a political stunt from Ripple to try and ride the anti-China sentiment in the US as part of their defence (yes a lot of the mining power is in China, but this could change and in any case it doesn’t mean the Chinese government controls the network). Facebook tried to pull the same trick in the Libra hearings and it didn’t really work.

The funny thing is that while here they are portraying XRP as a way for the US to retain control over financial flows, if they were talking in other circumstances/countries they would portray it as a way to escape US control and sanctions (by bypassing Swift). If their defence argument here is that they are planing to be a geopolitical tool of the US in international conflicts, they are also rendering themselves unsuitable for many nations.

Mind you, I don't disagree with the fact that it is a good adea to keep on eye one who's controlling the code and hash power of decentralised crypto. But saying that XRP is the solution is rather disingenuous and I doubt it will help Ripple.