EDUCATIONAL CYBERPLAYGROUND NETHAPPENINGS NEWSLETTER 7/13/23
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BEST ANSWERS IN THE COMMENTS WILL BE GIVEN A GOLD MEDAL.
EDUCATED NETHAPPENINGS READERS KNOW THE ANSWERS:
It’s 2023 People!!!
If you don’t know all the answers to the following questions below then you are not an educated person who is fit to understand or explain how money works. This includes lawyers, accountants, and anyone who wants to see their children, grandchildren and great grandchildren succeed in the future.
- HAVE YOU TOLD A FAMILY MEMBER OR FRIEND ABOUT BITCOIN?
- HAVE YOU EXPLAINED TO YOUR FAMILY OR FRIEND WHY THEY SHOULD BUY BITCOIN?
- DO YOU KNOW HOW OLD BITCOIN IS?
- Can you show anyone the Bitcoin white paper and tell them when it was released?
- HAVE YOU TOLD A FRIEND WHERE TO BUY BITCOIN?
- HAVE YOU STARTED STACKING SATS?
- DO YOU KNOW WHAT A COLD WALLET IS?
- DO YOU KNOW WHAT A HOT WALLET IS?
- HAVE YOU BOUGHT A COLD WALLET?
- CAN YOU EXPLAIN BITCOIN SOVEREIGNTY?
- HAVE YOU TOLD ANYONE WHAT A SATOSHI IS AND CAN EXPLAIN IT?
- HAVE YOU BOUGHT A WALLET AND SELF CUSTODIED SATOSHIS?
- DO YOU KNOW HOW MANY SATOSHIS ARE IN 1 BITCOIN?
- DO YOU PLAN TO LEAVE YOUR BITOIN TO YOUR CHILDREN AND GRANDCHILDREN AND CHARITY OF CHOICE ?
- DO YOU KNOW WHAT THE HALVING IS?
- DO YOU KNOW HOW MANY HALVINGS THERE HAVE BEEN AND WHAT HAPPENED AFTER EACH ONE?
- DO YOU KNOW IT IS NEVER TOO LATE TO START? Can you explain why?
Next #Bitcoin Halving ETA: April 16, 2024.
@TimDraper predicts $250K #BTC “3 months before the halving” which means by January, 2024.
₿: Americans own nearly twice as much #bitcoin than any other crypto.
[data source: 80,000 U.S. households
https://nber.org/system/files/working_papers/w31284/w31284.pdf]
Do You Know Who is the largest BTC owner in America?
4/28/23 Between assets seized from the Bitfinex hack and Silk Road, the US govt currently holds 205,500 BTC worth $6 billion
This makes them one of the largest Bitcoin holders in the world at the moment.
DOES THE SEC HAVE AUTHORITY FROM CONGRESS TO REGULATE CRYPTO EXCHANGES?
What is the difference between an ETN and an ETF?
Can you explain how we went From fiat to crypto?
July 13th victory day.
BREAKING: US Judge Torres rules Ripple $XRP is not a security.
XRP IS NOT A SECURITY!!
Judge Torres rules but I believe it is in Coinbase’s legal interests and public perception interests to relist XRP. XRP has more legal/regulatory clarity at this point then any token other than #Bitcoin
THE SALE OF $XRP ON EXCHANGES IS NOT A SECURITY
Coinbase, Bitstamp, and Kraken have relisted XRP
The Ripple decision actually means Tether is a security, since they sell them to institutionalized investors.
At a discount. Up to 40% (so 1 Tether for $.60)
The @SECGov and @GaryGensler claim that 80-year-old securities laws apply to crypto. A judge today said they do not. Adios Gary.
@CaitlinLong_ NOT A SURPRISE. The #Ripple case summary judgment did support a key message w/ which the SEC has hounded #crypto issuers repeatedly for years: the manner of sale REALLY matters, & something that isn’t a security after it’s distributed might be a security at its initial offering.
@AP_Abacus
UPDATE: Gensler isn’t done inflicting undue burden on the crypto industry. Today’s developments will serve to harden his stance.
Gemini has indicated they probably will list $XRP for the first time ever as a result of the ruling today.
The sale of XRP on exchanges is NOT a security. Which means the sales of all cryptos on exchanges are NOT securities and @SECGov and @GaryGensler have NO jurisdiction over them. This is a watershed moment that relegates the SEC to TradFi and makes it a dinosaur regulator. Buh-bye
Why the Crypto World Is Celebrating Ripple’s Partial Win Over the SEC
https://www.theinformation.com/articles/why-the-crypto-world-is-celebrating-ripples-partial-win-over-the-sec
But the ruling on Tuesday wasn’t a complete victory for crypto. The judge also ruled that Ripple had violated securities laws with sales of xrp to big investors, and that the company’s top two executives have to go to trial over their alleged role in those illegal sales.
Coinbase, Kraken will relist XRP following Ripple summary judgement
Coinbase delisted XRP in the wake of the SEC’s lawsuit at the tail-end of 2020
https://blockworks.co/news/coinbase-will-relist-xrp-following-ripple-summary-judgement
#XRPCommunity #XRP This is to me the most important part of the decision. Programmatic Sales are not securities, and because a Programmatic Buyer “stood in the same shoes as a secondary market purchaser,” secondary market sales are not investment contracts — NOT SECURITIES.
https://twitter.com/FilanLaw/status/1679539680369336335
WOW! Congratulations to you my friends.
What I see from a first read-through:
1. Judge Torres ended up …splitting the baby! Yes, she finds the sales in which the buyers bought XRP directly from Ripple were sales of securities. That amount is alleged to be $728 million.
see dropbox
@FilanLaw
“The Court does not address whether secondary market sales of XRP constitute offers and sales of investment contracts because that question is not properly before the Court. Whether a secondary market sale constitutes an offer or sale of an investment contract would depend on the totality of circumstances and the economic reality of that specific contract, transaction, or scheme. See Marine Bank, 455 U.S. at 560 n.11; Telegram, 448 F. Supp. 3d at 379; see also ECF No. 105 at 34:14-16, LBRY, No. 21 Civ. 260 (D.N.H. Jan. 30, 2023) (declining to extend holding to include secondary sales).”
It only means the sales on the secondary market are not securities per se, but the facts and circumstances need to be evaluated.
Meaning if the sale is an investment contract, ding, ding, ding. the SEC best come with evidence of each investment contract made.
She is basically saying, if you want to make the case that there is an investment contract sale, each instance would have to be litigated. There’s no assumption that all secondary sales are securities and there’s no way the SEC is doing this!