The Nervous Investor! Awaiting Word On SEC v. Ripple

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I’m sure many of us are biting our nails as we await a ruling on the SEC v. Ripple case. If you are anything like me, your nights are no longer used for sleeping. I am a nervous wreck! Hopefully, Ripple wins the case, and XRP picks up where it left off before getting delisted. I do not want to make speculations about the price because, in crypto, you never know.

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I have learned to hope for the best and mentally prepare for reality! In crypto, it’s best not to get your hopes up because when a token misses the target, it causes people to freak out. After ETH merged, some people thought it would help to bring the price back up. It was holding around $1500.00 until the SEC stated that ETH falls under US jurisdiction.

Some of your ETH investors said nasty things about XRP, and now it looks like the SEC has its eyes locked on them. It is now public knowledge that the prior head of the SEC worked with firms that had direct dealings with ETH. We do not know what kind of relationship he had with ETH, but we know he was warned against contact with a firm due to his position and their involvement with ETH.

This is why we must have regulation. I sound like a broken record, but I will keep saying it. There can be no safety in crypto without regulation. Think about society and how laws work to hold certain practices in place. If we want crypto to become a contender in finance, there have to be regulations put in place. The lack of regulation gives birth to more fraudulent activity. It would be too easy for white-collar crime to ruin the crypto space.

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I don’t want to see ETH go down the same path as XRP because the results would be horrible. However, I want to make sure we have a clear understanding of what happened, so we can prevent it from happening in the future.

As always, not financial advice. Now I can go to sleep.

We Are Nearing An Answer On SEC v. Ripple

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We have rounded the corner, and we are now racing down to the finish line. Over the weekend, the SEC and Ripple simultaneously entered their motion for summary judgement. It’s not sure if investors will know something this week, or a month from now! However, it is safe to say both the SEC and Ripple are ready to move on.

This is a very interesting time for investors like myself. It is known that $XRP has the potential to do big things. We are talking about a project that was designed to basically be Bitcoin 2.0! I think we need the utility of XRP because it simplifies the process of getting funds from banks.

About a year ago, I purchased my car at a local dealership. I didn’t want to finance it, so I had the money wired from our account to the dealership. The process took around three days to complete because it was started on a Friday. It was a very irritating transaction due to all the steps needed in order to move my money from the bank to the dealership. Near the end of the first day, I was ready to get my car from Carvana and call it a day. However, my husband wouldn’t let me, so we ended up trying to help our local dealership get business.

It’s safe to say, I do not want to go through that again. We need XRP because it will cut down on the time to complete transactions. In the future, I would love to purchase a house without financing it. I hate playing with interest rates, so our large purchases have been completed with cash, and guess what, there are many others that feel the same way. In Ripple’s motion, the team points out that they have never tried to link the sales of XRP with Ripple.

I’m going to post the link below which lays out the argument and the potential for movement.

https://www.dropbox.com/s/qnbvzhurmipkmto/Ripple%20Defendants%27%20Motion%20for%20Summary%20Judgment.pdf?dl=0

Right now $XRP is currently available to exchanges outside of the United States. If Ripple is able to win this case, we will see exchanges like Coinbase, Etoro, and other financial brokerages offering crypto list XRP. With regulation looming over the offering of crypto and governmental guidance starting to take notice, we will know something sooner than later.

https://www.cnbc.com/2022/09/16/heres-whats-in-biden-framework-to-regulate-crypto.html

I knew about Bitcoin prior to Bitcoin reaching 15000, but I didn’t know how to get in on the action. Today people are in better shape when it comes to gathering information on crypto. There are numerous sites that talk about how to get crypto and where to buy it. So, count yourself lucky if you are reading this.

As always, I am not a financial advisor. Be careful in the crypto world. NFA

Law Enforcement Must Find A Way To Work With Communities

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It is a little after 4 AM, and a child is missing somewhere in my part of the city. The police department cannot give out any information on the child. They cannot tell race, sex, age, or anything. I haven’t heard an Amber Alert go off, so how do they find this child? The mother in me can’t help but feel a little freaked out.

What if this was my child? Having the police check local areas is helpful, but why not use the Amber Alert system? The Amber Alert system is a child abduction emergency alert system that goes into effect when children are taken. I do not understand why the police cannot tell if the child is a boy, girl, white, black, 2, or 17. This limits the amount of help that a community is able to offer.

Right now, it’s still dark, and who knows how long this child has been missing. I do not understand why we haven’t heard an Amber Alert go off. Anyway, I feel like we need to do something to make sure we are able to get the max level of help when it comes to missing children. Know the sites that specialize in missing kids like https://www.missingkids.org/HOME and their Facebook information https://www.facebook.com/missingkids/ helps!

Police departments should also use their social media contacts to put alerts on Nextdoor. Nextdoor is very popular and it is used in about 33% of households in the US. This app could very well help to alert neighbors about missing children. Perhaps, the app could send an alert to security devices that trigger notifications if the children are in the area.

This should be an easy fix because we came up with coupon apps, dating apps, and health apps. Anyone, just a gripe!

Do Kwon And The South Korean Government At Odds

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Around the beginning of the summer, LUNA crashed from a position of over $100.00 to pennies in a matter of hours. The LUNA crash was prompted by the depegging of their stablecoin USD. Around that time, a lot of investors including myself were trying to talk the blockchain eco team into saving the token.

At that time, the founder Do Kwon and his team were adding trillions of tokens to the circulation, which pretty much killed any hope of LUNA being able to recover. There were multiple plans being offered by the community and even by the Binance founder Changpeng Zhao. The first idea was to burn the newly created LUNA tokens, but the problem was the number of tokens. With the new amount being in the trillions, there was no real way, a burn would work.

Keep in mind, that circulation with crypto is everything.

Rumors soon started to come to the surface about the moments before the LUNA crash. It was said that Do Kwon knew about the upcoming crash and offered information to help get some of the investors to cash out before the bulk of the investors were screwed. As new investors entered the community trying to help soften the blow, Do Kwon started to mint new tokens. Sadly, efforts fell by the wayside, and people started to ask about LUNA’s Bitcoin reserve.

After several tweets with the Binance owner, Do Kwon stated that they couldn’t use the reserve. He insisted that he used it to stabilize the USD stablecoin. However, things still didn’t add up. Investigations were called from multiple places and now South Korea has issued an Arrest Warrant according to https://watcher.guru/news/terra-south-korea-issues-arrest-warrant-against-do-kwon.

Due to the ongoing legal issues both LUNC which was the old LUNA and the new LUNA are both dipping in price. People are probably jumping because they do not want a repeat of May. In crypto, trust is perhaps the biggest factor when it comes to investing. If you cannot trust the project or the dev team, it’s hard to feel good about putting your money into their project.

There are questions about the handling of LUNA. Why did Kwon use all his Bitcoin, did he use it to try to save the project, and why did he add trillions of LUNA when people were trying to save the project by investing? Maybe South Korea will be able to get some real answers because most of us would like to know what happened to LUNA!

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