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Well, let's hold off on making that judgement just yet, lol. You might be surprised who turns up behind this company.
This doesn't sound quite like hype.
(page 20)
greensheet.com/gsonline_pdfs/
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When people wanted to deposit funds at MtGox, they could use Liberty Reserve, or Technocash, or Trustcash.
How come only Liberty Reserve got in trouble?
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Tiffany Hayden
@haydentiff
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Technocash had been enabling Ponzi schemes and hosting botnets since 2000. It claimed Liberty Reserve sullied them, forcing them to shutter, but they had filed to dissolve in the U.S. at least a year before...
#sibos19 twitter.com/haydentiff/sta…
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Tiffany Hayden
@haydentiff
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Nothing to see here. Move along,
“The indictment names three Westpac accounts held in the name of Technocash Ltd containing $US36.9 million in assets linked to the offences.”
smh.com.au/business/westp
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"#TrustCash enforces $1,000 PER DEPOSIT, but you can fill multiple orders a day, if that makes sense."
#MtGox #Bitcoin![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="72" height="72"><rect fill-opacity="0"/></svg>)
bitcointalk.org/index.php?topi
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I'll just leave this here.
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Tiffany Hayden
@haydentiff
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返信先: @haydentiffさん, @brascelidoさん
Houston, we found a solution. Sell them drugs.
#Bitcoin #Egold #LibertyReserve #SilkRoad
twitter.com/haydentiff/sta
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And to bring this back to my original comment about stare decisis, Trustcash Holdings, Inc. v. Moss held that non- purchasers lack standing to assert claims under Sections 12(a) and 17(a) of the Securities Act.
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Tiffany Hayden
@haydentiff
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@rohangrey, crypto is stare decisis. The years that preceded Bitcoin were spent busting p2p file sharers, aggressively. Everything since BTC is total bullshit. Ross (Silk Road) was a brilliant physicist. And which digital assets are securities?
This is the road to CBDCs, I think.
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I don't follow Ripple lawsuits, nor do I know anything about caselaw but, I wonder...
If XRP were to be declared a security, based on the above, could the dude who's suing Ripple qualify as a non-purchaser if he only owned #XRP on an exchange? (It's only an IOU.)
cc:
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Ripple made basically this argument in its first motion to dismiss (that it isn't a statutory "seller" & the plaintiff didn't buy in an "initial distribution") & the court rejected it.
Also, the law doesn't support a "just an IOU" theory.
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I see the distinction being made now.
"A txn is indirectly for the benefit of the issuer if any portion of the purchase price of any securities involved in the txn will be received indirectly by the issuer."
Could a log of Ripple's buy/sell activity at the exchange prove this?
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If Ripple is buying XRP, which they said they do, they can potentially help increase the price that they sell it for?
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Not if they sell more than they buy...
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How do you know? What if the "organic" price of XRP would still be stuck at $.006 if Ripple weren't both buying and selling?
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Alot of shady stuff in that SEC filing 
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Hurts my feelings, TBH. A lot.
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I understand why.... for a long time, longer than most have known of xrp and Ripple you have supported xrp, Ripple and their execs. Vocal on social media, informed and always willing to discuss.....
Is there one allegation made in the filing that disappoints you the most ?
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The snippet I just shared really stings. I was a moderator on that forum. They manipulated the price and then ran to the forum to watch me & others act like excited assholes?
All that money, but..
I tried 3x for a job in marketing when I was *really* struggling.
Not good enough.
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Yup. Just wow. I remember asking you a long time ago if you were aware of any market manipulation of XRP by Ripple. I really shouldn’t be surprised to finally learn the truth that they were manipulating the price XRP, but somehow this feels like a gut punch
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I didn’t think they were manipulating the market. I just knew they didn’t have any damn customers using #XRP, as apparent by the network of a $10B company being held up by mostly volunteers and almost halting after explicitly halting/pausing and nobody fucking knew or cared.
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Did and ever agree on what it was? I remember david saying he didn't think of it that way. But I get what you're saying....also liquidity begets liquidity. It's truly a conundrum
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Isn’t the bigger issue that nobody from Ripple told you, none of the “independent validators” told you, none of the people tweeting “I stand with Ripple” told you.
*I* told you.
What else don’t you know? Who do you expect to tell you anything since nobody checks for themselves?
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Hey Tiffany. As a follow OG from the XRPTalk days, I have to say this is a watershed moment for me. I got out of XRP at 34 cents after holding for many years.
Even though you & I got out with a profit, a lot of people will get hurt.
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It’s horrible and gut-wrenching, ESPECIALLY because it didn’t have to be like this. The world was Ripple’s oyster. There was so much possibility and excitement.
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I remember the excitement of the early days. You're right, so much potential wasted.
Their original sin was the founder's distribution along with them holding on to 55B XRP (in escrow but still under their control). That was really short sighted and a sign of greed.
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What do you think we should have done? As soon as there was a market price, giveaways stopped working.
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What did the giveaways stop doing?
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I think I get it. Market reacts to the giveaway rather than giveaway to market but you can’t depress the price to giveaway 55bil XRP.
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Well, to address his question of what I think should have been done, I think a foundation should have been created from the get-go to serve as legal stewards of the XRP.
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What difference do you think that would have made?
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The XRP would have been committed to the XRPL.
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At that time, we would have had no idea what to commit it to. You're imagining we somehow commit to unchangeable rules very early, taking the risk we guess wrong.
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So you feel good about how XRP has been used?
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I think we faced some unprecedented challenges and did a good job overall. Not perfect. I don't think making big irrevocable commitments earlier would be helped and it definitely didn't seem prudent at the time. 1/2
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The biggest problem was that we didn't want to hold XRP forever, but giving it away became impossible. It was a bizarre challenge. Lock ups don't work too well either. 2/2
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Wait. Did you effectively say We Cant Give This Shit Away?
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Impossible as a strategy, not literally impossible.
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If depends how much collateral damage is acceptable. Our github giveaway, for example, caused massive attacks on github infrastructure.
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David, after years with this community, I am seeing the integrity and moral character of your company in question by many hardcore supporters.
Strategic decisions aside, could any moral decisions have been made better?
I understand you probably can't answer this publicly.
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Nobody had any leverage at the time to get it, but more restrictions on Arthur, Chris and Jed might have avoided some ugliness. Lesson learned -- be wary of investing in overpowered founders -- they can change or you may not know them as well as you think you do.
Dude it's tweet, don't overally read into it
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They said No to the settlement
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I interpreted as Jed but good question :)
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Hmmm...I’m not liking this
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hey Vendetta!!! what do u think ?
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not good to hear. sentiment killer. would either step down in good faith at this point over the $600M in personal gain? that's going to be the contentious point here if proved. i hope this is not admission to that. why either would fight that and lose is pretty damaging imo.
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That’s pretty damning - I applaud the candor. But the big question - where does it go from here? What can management do in the here and now to give confidence to supporters of the project. This applies to owners of XRP and Ripple customers.
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Schön ist anders. Andererseits muss David von den Verkäufen gewusst haben.
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Klingt nicht gerade optimistisch. Wenn man seine Antworten liest, klingt es fast so, als ob er mit dem Thema abgeschlossen hat, da er die ganze Zeit von der Vergangenheit redet. Jedenfalls was ich gesehen habe. 1)
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Klar. Aber er wurde auch über die Vergangenheit gefragt. Er stellt die fragen dar, die sie sich über all die Jahre gestellt haben.
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I think he’s referring to Jed because he said lessons learned and you may not know them as well as you think you do. Remember Jed (Mr. Magic trading cards and couldn’t handle Mt. Gox so he sold it). Jed likes to change a lot and can’t seem to stick to one thing, wonder why....IMO
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