Re:SEC charges Ripple and two executives
by contingencies on Tuesday December 22, 2020 @06:15PM
(#25512582)
Just read this other thread it corrects the misinformation here
https://news.ycombinator.com/item?id=25502764
Re:SEC charges Ripple and two executives
by PragmaticPulp on Tuesday December 22, 2020 @09:35PM
(#25513804)
Other thread seems to agree that the modern version of Ripple, the version being sued by the SEC and the version of XRP that cryptocurrency speculators have been trading, is problematic.
No one is really disagreeing that Ripple was something else entirely before it became the popular Ripple/XRP scam, but that doesn't really matter in the context of this SEC lawsuit.
> whole thing turns in to a scam
Ironically, the narrative that Ripple the project was unrelated to Ripple, the scammy company, was also frequently used to hype XRP in the early days.
It was a convenient way to give two narratives to the same cryptocurrency. People could either choose to believe in the Ripple (the company) banking system, or they could choose to believe in Ripple (the project, the technology). Win-win for speculators.