Granny Danger Posted August 25, 2022 Share Posted August 25, 2022 Just now, HeWhoWalksBehindTheRows said: Knock up a rake of NFT shovels with daft wigs and clothes on them, simple. There’s definitely a business opportunity there, you want in? (Cash only investment, no crypto). 0 Quote Link to comment Share on other sites More sharing options...
HeWhoWalksBehindTheRows Posted August 25, 2022 Share Posted August 25, 2022 Defo! Pm me all your bank details and I'll get right on that! 0 Quote Link to comment Share on other sites More sharing options...
54_and_counting Posted August 25, 2022 Share Posted August 25, 2022 9 hours ago, Granny Danger said: How do you sell shovels to Crypto investors? Have a monkey holding one in a jpeg 2 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted August 27, 2022 Share Posted August 27, 2022 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted August 27, 2022 Share Posted August 27, 2022 3 hours ago, Suspect Device said: I wouldn’t buy crypto but am definitely in the market for magic beans. 1 Quote Link to comment Share on other sites More sharing options...
NorthernLights Posted August 27, 2022 Share Posted August 27, 2022 (edited) Edited August 27, 2022 by NorthernLights 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted August 27, 2022 Share Posted August 27, 2022 1 hour ago, NorthernLights said: Wait a minute, people buying worthless shite with no intrinsic value might be getting scammed? I find that hard to believe. 1 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted August 28, 2022 Share Posted August 28, 2022 16 hours ago, NorthernLights said: Well they need to try harder it’s just dipped through the $20k barrier 0 Quote Link to comment Share on other sites More sharing options...
MeadowArab Posted August 30, 2022 Share Posted August 30, 2022 A relative of mine is thinking of buying some Cryptocurrency called xrp. I've looked into it a bit and it seems like a scam. Am I wrong? And if I am, could someone point me in the right direction? [emoji846] 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted August 31, 2022 Share Posted August 31, 2022 (edited) 57 minutes ago, MeadowArab said: A relative of mine is thinking of buying some Cryptocurrency called xrp. I've looked into it a bit and it seems like a scam. Am I wrong? And if I am, could someone point me in the right direction? Can't help you with that, but a quick google tells me it's dropped 1% today and 8% over the last month, so it's not surprising that people holding vaults of the stuff are trying to get people to buy it to raise the price, or delay it falling off the cliff. A bit more digging says that buying it could be a bet on the result of a legal dispute between the US Securities Exchange Commission and Ripple who run XRP. If Ripple win XRP might do a dead cat bounce for a bit. Wiki: Quote A class action was filed against Ripple in May 2018 "alleging that it led a scheme to raise hundreds of millions of dollars through unregistered sales of its XRP tokens". According to the complaint, "the company created billions of coins 'out of thin air' and then profited by selling them to the public in 'what is essentially a never-ending initial coin offering'".[16] The U.S. Securities and Exchange Commission (SEC) initiated legal proceedings against Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen on December 21, 2020, for allegedly selling unregistered securities. In the lawsuit, the SEC claimed that XRP was a security instead of a commodity, because it was generated and distributed by Ripple Labs in a centralized fashion and was not being adopted by financial institutions for its advertised use cases.[3] The SEC stated that Ripple executives sold 14.6 billion units of XRP for more than $1.38 billion to fund the company's operations and enrich themselves.[17] In response, Garlinghouse criticized the SEC and indicated that Ripple Labs would defend itself in court.[18] Coinbase delisted XRP on December 28;[19] an investor filed a class action on December 30 alleging that Coinbase sold XRP tokens with the understanding that they were unregistered securities.[20] Edited August 31, 2022 by welshbairn 1 Quote Link to comment Share on other sites More sharing options...
MeadowArab Posted August 31, 2022 Share Posted August 31, 2022 Thanks. I'll pass this on. Seems even scammier now. 0 Quote Link to comment Share on other sites More sharing options...
Zetterlund Posted September 1, 2022 Share Posted September 1, 2022 On 31/08/2022 at 00:57, MeadowArab said: A relative of mine is thinking of buying some Cryptocurrency called xrp. I've looked into it a bit and it seems like a scam. Am I wrong? And if I am, could someone point me in the right direction? XRP has a cult following who believe it will be used by financial institutions for international payments, and will one day be worth hundreds or thousands of times its current value. It will no doubt get a boost if they eventually win the SEC case, but that's not guaranteed. I've always seen it as exactly as the SEC claim - Ripple have used it to fund their development after creating it out of thin air (they're far from the only crypto company to do so of course). 1 Quote Link to comment Share on other sites More sharing options...
strichener Posted September 1, 2022 Share Posted September 1, 2022 5 minutes ago, Zetterlund said: after creating it out of thin air (they're far from the only crypto company to do so of course). Isn't this all Crypto? 1 Quote Link to comment Share on other sites More sharing options...
Zetterlund Posted September 1, 2022 Share Posted September 1, 2022 5 hours ago, strichener said: Isn't this all Crypto? A large part of it, other than coins mined via proof of work like bitcoin. Even then, some of these had a 'pre-mined' supply which was pocketed by the team. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 1, 2022 Share Posted September 1, 2022 5 hours ago, Zetterlund said: XRP has a cult following who believe it will be used by financial institutions for international payments You hear this all the time but as far as I know there's no patent on blockchain technology so the institutions could adopt it if they want without bothering about the wee tokens. 0 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted September 1, 2022 Share Posted September 1, 2022 You hear this all the time but as far as I know there's no patent on blockchain technology so the institutions could adopt it if they want without bothering about the wee tokens.You could say that about almost anything that big companies pay smaller companies to do for them. 0 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted September 1, 2022 Share Posted September 1, 2022 1 hour ago, welshbairn said: You hear this all the time but as far as I know there's no patent on blockchain technology so the institutions could adopt it if they want without bothering about the wee tokens. Which has always seemed to be the glaring problems with the "I'm investing in the technology" spiel The technology is open source 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 1, 2022 Share Posted September 1, 2022 54 minutes ago, DiegoDiego said: 1 hour ago, welshbairn said: You hear this all the time but as far as I know there's no patent on blockchain technology so the institutions could adopt it if they want without bothering about the wee tokens. You could say that about almost anything that big companies pay smaller companies to do for them. Yes, but why would institutions want to use such a volatile medium like XRP to conduct their transactions, when they could use Ripple's technology without it? Ripple might be worth buying shares in (if it was publicly quoted) but I don't see XRP as a wise investment. 0 Quote Link to comment Share on other sites More sharing options...
KD1711 Posted September 1, 2022 Share Posted September 1, 2022 7 hours ago, Zetterlund said: XRP has a cult following who believe it will be used by financial institutions for international payments, and will one day be worth hundreds or thousands of times its current value. It will no doubt get a boost if they eventually win the SEC case, but that's not guaranteed. I've always seen it as exactly as the SEC claim - Ripple have used it to fund their development after creating it out of thin air (they're far from the only crypto company to do so of course). When XRP went to 1.90 last April there is a paid group on instagram called Crypto Glasgow spouting pish like this about it being the new reserve currency. They filmed themselves rallying around Glasgow in their car which has an XRP regi plate and did a video saying that it is going to surpass its all time high within a week but its not too late to invest as it is going to go to $7. I know of someone who put 60k in off the back of their advice and is now significantly down, they then deleted their posts about it and claimed they never said it. 0 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted September 1, 2022 Share Posted September 1, 2022 I know of someone who put 60k in off the back of their adviceGood god. How did someone like that get their hands on 60k to begin with? 0 Quote Link to comment Share on other sites More sharing options...
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