XRP and the Sec Lawsuit Is It Just a Test to Make Sure Its Bomb Proof This Is MY Theory

0:00 My disclaimer, this video is not financial advice

All right, ladies and gentlemen, my name is Jonathan Ellaskins, The DJ Tutor, and this video is not DJ related. So if you're interested in watching a DJ video, then stop watching. Alternatively, if you're interested in cryptocurrency and you want to know a little bit or a theory I have about XRP, then carry on watching. My disclaimer, this video is not financial advice. I am not a financial advisor. This video should be taken totally and utterly for entertainment purposes only. So here we go. Right at the moment, 2021, the latter part, the lawsuit with the SEC in America is still going through. A lot of places will not allow you to buy XRP because it's apparently classed as a security. And Ripple, of course, the company, XRP, are trying to prove that it is not a security. The SEC is, of course, trying to prove it is. Now, the lawsuit in itself, I think, is a cover-up, a complete cover-up, and I will explain. Now, at the moment, if you want to, say, transfer money from one bank to another around the world, you use Swift, it's very clunky, takes a long time, and so on.

Whereas with the Ripple network, you can transfer money in seconds and it costs very, very little. So because we're moving into a fourth industrial revolution where practically everything will be tokenized, digitized and centralized, which is great in many ways but also very scary in others because it means the buggers will know everything about you, where you are, what you're doing. What you buy, when you buy it, how much you paid for it, who you bought it from. You won't have any freedom because you won't have any cash in your pocket because it will probably be illegal. I'm not going to go down that road. All right, so why do I think the lawsuit is not really a lawsuit to see if XRP is a security? Okay, let me explain. Let's imagine

3:03 The car manufacturers wouldn't make any money and they wouldn't sell a

You have a car, and this is I believe a good analogy, and you've designed a car and you jump in it and you take it for a ride down the road and all of a sudden you decide to make a thousand of them and give them to random people. Well the trouble is, unless that car has gone through strict and stringent testing time and time again... If someone, one of those people has an accident due to a fault of the mechanics or the wheels or the brakes, then you're in deep poo-poo. So what happens is that said vehicle will have to go through stringent checks to make sure it is indeed roadworthy and this will take a long time. A car manufacturer don't sort of on a Monday draw a picture, on a Tuesday make a model, on a Wednesday start putting the bits together and Thursday sell it. It takes months and months, sometimes years to make sure that that car is 100% bomb-proof, even though after a while they do rust. But then again if they did, well a lot of them, if they didn't...

The car manufacturers wouldn't make any money and they wouldn't sell any new cars. And there's the cat again. So I believe that this lawsuit isn't about finding out if it is a security, as in they've done something wrong. The lawsuit is there to make sure XRP is bomb-proof. So when the time comes and they go, yeah, fine, okay, we give in or they're fined or... They find out that it's not security. Then the banks around the world will know categorically beyond shadow of a doubt that it is fine to use because the last thing a bank wants is to use something today only to find out six, ten months time or whatever or two years time that there was an issue. And then there's all this red tape and solicitors and God knows what lawyers going through all the crap. They don't want that. They want to use something and have peace of mind knowing that is 100% bomb proof. And that's what I believe this lawsuit is about. What do you think? Practice and enjoy. Thank you.

This transcript was produced automatically from the audio of the video and may contain mistakes.