1/15 #XRP It's funny that many are acting holier than thou right now about price manipulation w/ market makers & paying listing fees but I know for a fact that SO many (I'd argue ALL of them) other crypto projects are doing the same thing...& BTC is not excluded from this truth https://twitter.com/JamesMalpass12/status/1341755044333535233

2/15 whatsoever..the difference is that Ripple tried to penetrate a market that was hostile towards them, at least in the US. They also became the counter narrative w/in the counter narrative which brought on tons of hate. Now their dirty laundry is out in public. The

3/15 SEC has focused on the market manipulation (which was public..we knew they were selling & we knew they were buying back) and also the vast wealth Brad & Chris amassed for themselves. The SEC wants to look like they are protecting retail & Brad/Chris' actions are not going to

4/15 be received well by anyone. Consensus got 1 mention that's it. This just isn't consistent w/ what has been previously said about networks achieving decentralization which would make a digital asset fail the Howey Test for being a security. This leaves TXN validation like PoS

5/15 PoA, & Consensus completely in the dark on what their asset is & what it is considered decentralized in the eyes of US regulators. The only TXN validation we have any clarity on is PoW now...PoW passes the SEC's test for which there is no study guide....NOW IF, the XRPL

6/15 consensus mechanism was deemed sufficiently decentralized for XRP not to be a security it's likely, the CFTC could go after Ripple for manipulating XRP's price. The way this suit reads though, consensus doesn't matter. It's okay for Charlie Lee to create a PoW network & sell

7/15 the absolute top while telling retail investors to hold on the internet, but it's not okay to use consensus while manipulating the market. I'm not going to excuse Chris/Brad's enriching themselves, that was the choice they made & most project heads sell their tokens...it's

8/15 been done so many times by so many different people & the optics are never ever good..but it's counter productive to apply rules that are arbitrary in both in their substance & application. That is the real problem here that's being lost, much to the happiness of large banks

9/15 and the SEC. XRP is so hated that it might not matter to many of the crypto faithful. This is why the wild west frontier of DeFi will thrive in the short term in the next ALT bull market, because we're not wanted in traditional finance. It might be true that the only way

10/15 payments are democratized is through Fintechs/ DeFi protocols that slowly disaggregate finance while banks & traditional finance slowly bleed. This happened/is still happening in China. Instead of innovating they seem content to bleed out. Bitcoin is set to hit insane highs

11/15 regardless of the likelihood of a long/expensive drawn out court battle over the fate of Ripple execs. While that acts as a drag on XRP adoption & potentially price, DeFi could look like an attractive answer to the kleptocratic nightmare that our monetary systems have becom

12/15 what I know now is that XRP has become an even riskier bet w/ the SEC on it's heels & holding it or buying the dip seems insane to me. I don't like the cult that's developed around it & now this makes it an even less attractive opportunity. There are other projects w/ more

13/15 short term upside (meaning during the next alt bull cycle)that I will be pursuing. I've been talking about XRP less & less. Was hoping I could just let it ride but the night Ripple front ran the SEC & broke the news I derisked. I hope everyone can view the current situation

14/15 objectively & make a proper risk assessment moving forward. The hope would be that a friendlier administration can help ease the damage done by this suit...it might have been better to pay the hush money & settle quietly w/ the SEC (EOS sold $4 bil & paid 24 mil in fines,

15/15 Ripple sold less than that, 1.3 bil) and then seek clarity from the Biden administration. Brad said they were given an option to quietly settle but they elected not to do that.

#xrpcommunity @ImTheDebate @MoonLamboio @xrpriest @XRP_OWL