ETH GATE SEC EXPOSED - XRP HOLDERS SLOWLY THEN ALL AT ONCE WE GET RICH

Summary

In a riveting discussion on the Common Sense Crypto channel, Rich delves into the ongoing saga surrounding XRP, its regulatory hurdles, and potential resurgence. The video highlights how Coinbase has revealed internal SEC conversations, suggesting an aggressive stance against Ripple. Despite these challenges, proponents believe XRP will experience a rebirth, driven by regulatory clarity and potential utility in tokenized government debt. The narrative also explores how banks could rapidly adopt Ripple's technology, signaling a transformative shift in global finance. Rich emphasizes the importance of patience and awareness of XRP's long-term potential, advocating for informed investment decisions while predicting dramatic price increases spurred by utility-driven demand.

Highlights

• Coinbase reveals SEC's internal discussions about XRP, painting a challenging picture for Ripple 📄
• JP Morgan recognizes Ripple as a disruptor in global payments, hinting at XRP's potential 📊
• Crypto in America views regulation as a pathway to rebirth and advancement for XRP 🌟
• Tokenizing government debt is not far-fetched, though regulatory barriers remain a key hurdle 🛡️
• XRP could become a high-value stable asset, with banks rapidly adopting its technology 🏦
• The shift to digital assets is transforming global finance, with Ripple at the forefront 🌍
• Regulatory changes may categorize cryptocurrencies, giving utility tokens like XRP an edge ⚖️
• Rich predicts XRP's price surge, driven by utility and increased adoption 🔮

Key Takeaways

• XRP's battle with the SEC could set the stage for a major comeback 🚀
• Regulation may pave the way for XRP's integration into government debt tokenization 💼
• Banks are poised to quickly adopt XRP for faster and cheaper transactions ⏱️
• Future price predictions for XRP vary, but optimism remains high, aiming for three-digit values soon 💰
• The crypto market's evolution could disrupt traditional financial cycles, with utility leading the charge 🔄

Overview

Common Sense Crypto, hosted by Rich, dives into the complexities surrounding XRP and its tumultuous relationship with regulatory forces. In the latest video, Rich discusses the internal SEC discussions unveiled by Coinbase that highlight some of the agency's contentious moves against Ripple. Despite these headwinds, XRP is poised for a comeback, with major financial institutions recognizing its disruptive potential.

As Rich outlines, the crypto landscape in the U.S. is rife with change. Emerging regulations could boost the credibility and adoption of XRP, encouraging banks to adopt Ripple's technology for more efficient transactions. The video explores how such shifts might radically transform the financial world, potentially leading to a government-backed use of tokenized assets, though hurdles remain.

Rich encourages viewers to consider XRP's role in the rapidly evolving digital finance space. Recognizing the need for patience, he highlights the importance of staying informed and not over-investing. The promise of substantial returns is emphasized, premised on the expectation of XRP's integration into mainstream finance, facilitated by regulatory clarity and growing utility.

Chapters

• 00:00 - 00:30: Introduction and Background on XRP The chapter titled 'Introduction and Background on XRP' starts with a welcoming note from the host, Rich, from the Common Sense Crypto channel. Rich aims to talk about XRP, a cryptocurrency, and mentions some significant revelations about XRP involving Coinbase and the Securities and Exchange Commission (SEC). These internal conversations might have important implications for XRP.
• 00:30 - 02:00: SEC and Ethereum Security Discussions The New York State Office of the Attorney General Investor Protection Bureau asked the SEC to file an amicus brief arguing that Ether is a security. In March 2023, the New York Attorney General's office had sued Coin for violating state laws regarding the trading of securities and commodities.
• 02:00 - 03:30: Ripple's Disruption and Legal Challenges In the chapter titled 'Ripple's Disruption and Legal Challenges', the discussion centers on the Securities and Exchange Commission's (SEC) stance on Ethereum (Ether) as a security. The SEC is contemplating filing an amicus brief to argue that Ether is indeed a security. The outcome of this classification won't directly affect their current case, but it is seen as a beneficial move for investor protection purposes. The chapter highlights the readiness of authorities to categorize Ether within the securities framework, reflecting ongoing regulatory challenges faced by similar digital assets.
• 03:30 - 05:57: XRP's Potential and Future Projections The chapter discusses the potential and future projections of XRP, particularly in the context of legal and regulatory challenges. It references the 2023 incident involving former SEC chair Gary Gensler, who was involved in the controversy over whether Ethereum (ETH) should be considered a security. The enforcement actions by the agency, including a lawsuit by Consensus against the SEC, are highlighted as part of the narrative. The chapter notes the investigation into Ethereum 2.0 that touched upon the buying and selling actions related to Ether, though it was eventually dropped. Gensler's careful approach to the matter forms a part of this regulatory landscape.
• 05:57 - 09:30: Crypto Integration in Banks and Regulatory Landscape This chapter discusses the integration of cryptocurrencies within banks and the evolving regulatory landscape. It highlights the ongoing debate on whether Ether (ETH) should be considered a security, pointing out that it has evaded regulatory scrutiny for years. The chapter also raises a question about the risks to the XRP blockchain if Ripple, the company behind it, were to cease operations. This reflects broader concerns about regulatory oversight and the implications for different cryptocurrencies.
• 09:30 - 13:30: Global Digital Assets Strategy and US Leadership This chapter discusses the influence of Ripple in the global payments industry. Despite efforts to undermine Ripple and its cryptocurrency XRP, as evidenced by an email, Ripple is acknowledged by major banks like JP Morgan as a serious disruptor. The focus is on Ripple’s potential to reshape cross-border finance and the attention it is receiving from influential financial institutions.
• 13:30 - 17:30: XRP Price Predictions and Utility Impact The chapter discusses XRP (a cryptocurrency) and its impact on financial institutions, especially challenging major players like JP Morgan. The narrative highlights that XRP was recognized early on as a disruptor to traditional banking models, leading to significant interest from such institutions. However, it also touches on the struggles faced by XRP investors, particularly around the year 2020.

ETH GATE SEC EXPOSED - XRP HOLDERS SLOWLY THEN ALL AT ONCE WE GET RICH Transcription

• 00:00 - 00:30 Hello everyone and welcome back to the Common Sense Crypto channel. As with you always, this is Rich doing another video today on XRP. So I hope you're all having a wonderful day today wherever you are in this great great world. We're going to talk about XRP. And I got to start with this. Coinbase reveals internal SEC conversations about XRP and some of them are damning. In one
• 00:30 - 01:00 email from June 2023, New York State Office of the Attorney General Investor Protection Bureau chief asked if the SEC to file an amicus brief in support of the argument that Ether is a security. The New York Attorney General's office sued Coin in March of 2023 for violating the state laws around the trading of securities and commodities. We would
• 01:00 - 01:30 like to request that the SEC file the amicus brief in support of the argument that ether is a security. Whether it is or not will not be dispositive in our case. We have authority over both securities and commodities, but I think it would be beneficial to investor protection to get a court to hold that Ether is a security. So, they were already ready to call Ether a security
• 01:30 - 02:00 in 2023. The question of whether ETH is a security came up under former SEC chair Gary Gensler's leadership. Consensus sued the agency last year and said the agency's enforcement director allegedly approved the investigation into Ethereum 2.0 to examine people and entities buying and selling Ether that was later dropped. Gensler had skirted the
• 02:00 - 02:30 question of whether Ether is a security. However, he has noted that many cryptocurrencies are and would fall under his ay's jurisdiction. ETH has been getting a free pass for years now. And then they go on to say, could we ask him to opine on what risk to the XRP blockchain would or might materialize if Ripple walked away or disappeared? According to one
• 02:30 - 03:00 email, it was all about crushing Ripple and XRP. Because of this right here, even JP Morgan has acknowledged Ripple as a serious disruptor in the global payments industry. We're talking about one of the largest and most influential banks in the world. Recognizing Ripple's potential to reshape crossborder finance, Ripple is being watched, studied, and taken seriously by the very
• 03:00 - 03:30 institutions it set out to challenge. Same reason that JP Morgan wanted some of that escrow. They already knew back then that XRP was a major disruptor to their business model. And that's why this all took place in the first place. But us as XRP investors, we took the hit from this. You know, back in 2020, it
• 03:30 - 04:00 looked like XRP was on the way to a great run in 2021. Then all of a sudden the lawsuit started and that changed everything and XRP was still capable of reaching a $1.92 even though it was off most of the major exchanges. That's why I said this time around it's going to look a lot different. No crypto was attacked more than XRP. I believe we
• 04:00 - 04:30 will see an XRP rebirth that makes the 2018 run look like a kitty picnic. That comes from digital asset investor Eleanor Tourett put out this video of Robin Hood CEO. Take a listen to what he says. I think crypto in America has been belleaguered for many, many years and really the past administration has tried to make it go away. So crypto in America
• 04:30 - 05:00 now to me means uh a rebirth and actually playing catchup and eventually surpassing where crypto has been outside of the US for the past four plus years. And that's why I even said XRP did not fully recover yet. It's still in the recovery phase. And I think what's going to happen is this. Regulations are going to put XRP on the road to a full
• 05:00 - 05:30 recovery. Two digits is going to be the normal price for XRP very soon. Could XRP back government bonds become a reality? A bold proposal by Black Swan Capitalist. So the concept of tokenizing government debt is not ext entirely outlandish especially as global finance experiments with digital assets. However, several major hurdles stand in the way. The chief drawback is the
• 05:30 - 06:00 volatility of crypto assets. Unlike the US dollar or other fiatbacked securities, cryptocurrencies like XRP remain volatile. Its value fluctuations must significantly reduce to serve as a stable debt instrument, possibly requiring mechanisms similar to those of stable coins. Another factor is regulatory barriers. Until now, the US
• 06:00 - 06:30 SEC has been notoriously cautious about cryptocurrencies. Still, despite its evolving stance on crypto under new leadership, issuing XRPbacked bonds may require new financial regulations and a clear classification of XRP as an acceptable reserve asset. Here's the path I see for XRP. I know they're going to tokenize the government debt. That is a given. I
• 06:30 - 07:00 think XRP will be a highvalued cryptocurrency, but it will be at a stable price. The IMF has talked about that in the past. Same thing with XLM regulations. I think they're going to name what XRP is. In other words, they're going to say these are listed as util utility cryptocurrencies. These over here are all speculation.
• 07:00 - 07:30 And I think there might even be a third class for untested, something like a memecoin like Doge or SHIP. But I think once they finally give a name to XRP, I would call it a network token, a bridge currency, something like that, I think that's what's going to push XRP ahead of the rest. Any utilitydriven cryptocurrency is going to get the upper hand on the
• 07:30 - 08:00 competition slowly and then all at once. Yes, banks can quickly upgrade their systems with blockchain. This comes from smoke. Banks can plug in to Ripple's technology in a matter of 3 weeks. The quick the quickest they did it was in 7 days. So think about when these banks want to start plugging in to the alternative to Swift. It only takes 7 days in some cases. Other cases may take
• 08:00 - 08:30 longer, but it can happen that quick. So slowly could be the plug-in phase and then all at once could be when the banks finally go live with XRP. All signs indicate that it will happen slowly than all at once. Once tokenization is an accepted standard for real estate administration, the sky becomes the limit. And even there, we
• 08:30 - 09:00 will see air rights be tokenized too. The pro peruvia pro proverbial gold rush to tokenize hundreds of trillions of dollars of real estate will no longer be a myth and it won't be long before the asset class sees adoption from the largest incumbents. All signs suggest that it will happen slowly and then all at once. I think the bank plugins will
• 09:00 - 09:30 happen slowly and then all at once XRP will go live in between a handful of banks and it will cause that ne network effect to happen. Same thing with tokenization. Once they realize there could be money made off of tokenization, they will amp everything up. So it'll start out slow like a testing phase. Oh well, now we're starting to see the returns. This is bigger than we thought. Now all of a
• 09:30 - 10:00 sudden they're tokenizing entire city blocks. Then it will be entire towns and so on and so on. I think that's what this is leading up to. And like I said, you're holding the banker's coin and the OC is talking about the banks custodying crypto. Take a listen. More than 50 million Americans hold some form of cryptocurrency. This digitalization of
• 10:00 - 10:30 financial services is not a trend. It is a transformation. Here at the office of the comra of the currency, we've confirmed that national banks and federal savings associations may engage in certain cryptocurrency activities responsibly in order to serve their customers. OC regulated banks may provide custody services including the safekeeping and secure storage of cryptocurrencies and other digital assets all on behalf of their customers.
• 10:30 - 11:00 The banks we supervise also may buy and sell cryptocurrencies they hold in custody at their customers direction. Additionally, these banks may provide other custody services including recordkeeping, tax or reporting services for their customers. OCC banks may use a subcustodian to provide the same services subject to appropriate thirdparty risk management practices. While a range of cryptocurrency and
• 11:00 - 11:30 digital asset activities may be performed by banks and their third parties, I want to be clear that the OC expects these activities to be conducted in a safe and sound manner and in compliance with applicable law. To learn more, please visit occ.gov. So, he's telling the banks now's the time to start doing this, that nobody's holding you back from doing this. They
• 11:30 - 12:00 encourage the banks now to get involved with crypto. And I think once the banks start offering it to new customers or opening up ways that people can earn from crypto, that's when we'll start to see adoption happen. I think a lot of people are very eager to get into this space, not just institutions. I'm talking about new retail investors. And if they can do it through their local bank, that will onboard a lot of new
• 12:00 - 12:30 people into crypto. Adapt, innovate, or get left behind. Take a listen to Scott Bessent here. We believe that the United States should be the pre premier destination for digital assets and as members of this committee the and the Senate are attempting to do create good market structure the around that the so that US
• 12:30 - 13:00 best practices are used around the world and that and that's really the point right is having American US best practices to sort of set the pace uh for others to follow rather than us trying to fill in the holes that uh that others uh that may be created by as others set that pace. Uh yes sir. And also the digital assets are an important source of innovation that will drive the that can drive uh usage of the US
• 13:00 - 13:30 dollar around the world as with stable coin legislation. There is speculation that there may be up to $2 trillion of demand over the next few years for US government securities from like I was saying all along. They're going to use digital assets to strengthen the US dollar. Imagine moving US dollars around the world in a matter of seconds for
• 13:30 - 14:00 less than a penny. Imagine the amount of money that our government can save on sending money around the world. Every time a war breaks out or a crisis happens and the US gets involved, instead of flying the money there, they could just deliver it digitally. And that's the world we are pushing into. And the Treasury is privatizing the economy. That means they're bringing in Ripple, Circle, others to get this done
• 14:00 - 14:30 sooner than later. You need 1 million XRP, says Bluehawk Legend. With a $1 million retirement target by 2030, here's how much XRP you need to hold. I hate this entire article already because first of all, their predictions for 2030, I think, are way off point. They're saying by 2030 XRP is going to top out in
• 14:30 - 15:00 December of 2030 at $2022. That's the maximum price. I'm thinking we're going to get there at some point this year. I think if at going into next year if we have utility behind XRP, I'm thinking three digits next year. I don't think it's going to take this long. So, they can't tell you how much XRP you should be holding because their price predictions are
• 15:00 - 15:30 totally wrong in my opinion. Here's what I'm going to tell you. You know your lifestyle. You know how much money it's going to take for you to retire comfortably. So, you figure that out and then you look at XRP and you say, "Okay, so at three digits, I need X amount of XRP. at four digits, I need X amount of XRP. Don't overinvest. Don't overthink it. I want you to be able to stay
• 15:30 - 16:00 patient because I want every single one of you to get financial freedom from this cryptocurrency. Also, they're not factoring in passive income where you could accumulate more XRP with the passive income you're getting from holding XRP to begin with. They never factor that in in any way. And that's why all these articles that
• 16:00 - 16:30 they write I don't I take with a grain of salt especially when their price predictions in my opinion are bottom that that's like the bottom to me. I already see what's going on already. Everything that we ever talked about is now coming together in real time. You honestly think at $2022 XRP can serve every person on the planet? Do you think at that price it could be moving tokenized assets around
• 16:30 - 17:00 the world? All the value running across the XRP ledger by 2030 XRP is only going to hit $2022. You know, the one thing that they're not factoring in utility because I think they're basing this all on market cap and previous cycles. I still see people talking about the 2028 cycle already. We don't even know if that cycle is even going to take place
• 17:00 - 17:30 because utility is going to disrupt the 4-year cycle. That's what I see coming. But until it happens, stay patient, stay positive, and let's get rich. together. With that said, I'm going to wrap up this video. I want to thank you all for watching. I appreciate all of you. I'll see you in the next one. Have a great night.