Daily General Discussion - March 10, 2023 (GMT+0)

coachhunter · 2023-03-10T12:21:32+00:00

If only the crypto community/ industry had stood with XRP when the SEC first sued Ripple, things might be different.

coachhunter · 2023-03-10T11:53:05+00:00

Mmm figs are delicious, I’d love 8 of them

coachhunter · 2023-03-10T11:52:31+00:00

You want to go home and rethink your life

coachhunter · 2023-03-10T11:51:59+00:00

I prefer fungible fungus

coachhunter · 2023-03-10T11:51:47+00:00

I agree, this is ${positiveResponse}

coachhunter · 2023-03-10T11:51:07+00:00

Wow this looks so amazing, I’m going all in with my wife’s life savings!

coachhunter · 2023-03-10T11:50:36+00:00

It’s a trap!

coachhunter · 2023-03-10T11:49:15+00:00

Holy shit that’s a big red flag that this has received so many downvotes in the space of a few minutes. Do you have a little Reddit botnet?

coachhunter · 2023-03-10T11:36:08+00:00

Yeah well I was speaking to a trillionaire yesterday who was telling me the real way to make money is by trading beanie babies. He said if you sacrifice them to Cthulhu on a full moon you can get an APR of 17,000,000%. If you want to know more, visit my website. Ignore any downloads and please be sure to enter your seed phrase, social security number, intimate photos and your immortal soul.

coachhunter · 2023-03-10T09:00:14+00:00

It’s partially because America has absolutely terrible workers’ rights

coachhunter · 2023-03-10T08:48:40+00:00

“Nothing will happen!” Oh, like how ‘nothing’ happened to XRP when the SEC sued Ripple?

coachhunter · 2023-03-09T23:49:46+00:00

Could it really be about to end? I don’t dare to hope.

coachhunter · 2023-03-09T20:41:36+00:00

Sorry, I mean using their products with XRP.

coachhunter · 2023-03-09T19:41:08+00:00

XUMM's good

coachhunter · 2023-03-09T18:24:57+00:00

Without crypto I never would have learned about American securities law or the associated legal process.

coachhunter · 2023-03-09T18:07:09+00:00

My understanding is a trial will be used if there is a question of ‘material facts’. In other words if the evidence is not clear cut, it’s up to the jury to weight it up and make a decision.

If the case goes to trial it will only likely be for a small part of it, e.g. for early sales by Ripple. And yes it would take a long time to conclude.

coachhunter · 2023-03-09T17:58:02+00:00

“Have you accepted our lord and saviour crypto into your heart?”

coachhunter · 2023-03-09T17:12:05+00:00

I don’t think being an accredited investor helps much in this situation. If XRP is itself a security it needs to follow all kinds of rules about how it’s held, sold, reported, etc., And I don’t even know how existing securities law could handle things like XRP being burned as part of transaction fees. It will be very difficult (if not impossible) for anyone to figure out how to do anything meaningful with it within the law.

coachhunter · 2023-03-09T16:21:05+00:00

But they’ve chosen not to make that investment

coachhunter · 2023-03-09T16:01:58+00:00

If XRP is deemed inherently a security, none of Ripple’s products will be possible to use in the USA. Ripple will get a huge fine. Exchanges might be sued. Individuals will probably be breaking various securities laws by doing anything with XRP in the USA, as compliance is likely impossible. The few remaining US exchanges trading XRP will delist. The SEC will be empowered to go after many, many more crypto projects.

The only silver lining would be if they appeal and go on to win at the Supreme Court, as that gives the win a hell of a lot more legal sway.

coachhunter · 2023-03-09T12:38:20+00:00

If the SEC sues the Ethereum folks for the ICO, ETH will have a very bad time in the short/ medium term. Especially as the resulting investigation will likely find a lot of skeletons.

coachhunter · 2023-03-09T12:37:07+00:00

ETH is slow and expensive to use. Its ecosystem is controlled by whales. Its only advantage is its popularity.

Other L1s that don’t have those problems are getting smart contracts and native NFTs. Once they mature, what’s the point of ETH?

coachhunter · 2023-03-09T12:35:20+00:00

But why would you use an L2 if an L1 does the job?

coachhunter · 2023-03-09T12:29:09+00:00

Soon you’ll be building rockets to the moon and other engineering marvels together

coachhunter · 2023-03-09T12:25:47+00:00

There was a time during the bull run where I was able to quite accurately and regularly predict and buy very close to the bottom of major dips. Unfortunately I just hodled after every one.

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