If this news is true, I'm actually proud of these slow-bus investors. That's right — stand up for your right to invest in a scam!
In all seriousness, the SEC is going to use its litigation against Ripple and/or XRP to justify putting its dirty claws into the rest of crypto. XRP holders, according to some idiot on Youtube from the XRP community, is fighting back by putting together a class action lawsuit against the SEC.
According to the dumbass, the XRP community is suing because the SEC screwed up the price of XRP. Although true, doesn't filing a legal claim under that premise admit that XRP is a security? I don't know. I'm no lawyer.
This is what happens when you give the SEC legitimacy in crypto. You end up fighting these wars of semantics and draining money from innovation. Well, there was no innovation coming from Ripple/XRP, but you get what I mean.
News of the class action suit comes on the back of more legitimate bad news for Ripple. Moneygram, a partnership that Ripple shills had been claiming for years, came out and said they had never used Ripple or XRP for anything. The Moneygram CEO also disavowed any knowledge of Bigfoot, the Loch Ness Monster, and his own reflection in a mirror just to make sure his point was clear.
JPMorganCoin, a coin that is already cleared for liftoff, is quickly sucking up all of the air in the banking room from XRP as well. (I will never use JPMorganCoin, by the way, and neither should you.)
The only good news here is that the XRP community seems ready to take the slings and arrows to defend its precious coin. Good. Let them think that they are fighting for a larger cause, i.e., the crypto community. Hell, if they come out with the right messaging, I may even give them permission to promote this line. Because even though XRP is not a crypto but a scam, the stupid ass SEC can't tell the difference. If they win over Ripple and XRP, they will use the fake precedents they set in that case to take down legitimate projects.
So when you see an XRPtard, gas him up to take on this fight. It will save us all a bit of crap down the road.
