Bitcoin Forum

he finally noticed that ripple is dead.

don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.

i tried to scrape up the video of that plunge but no success.  i remember being right there when it happened.  one of the most dramatic things i've ever seen realtime.

The plot thickens indeed.

Disagreements with a "business" usually points to money issues, fundamental issues, or personal issues. Wonder which one it is? Interesting stuff...

Probably a good thing. Look happened happened to bitcoin after he left MtGox.

disagreements on who to bring on as ceo (or cto, audio is not clear). he starts talking about it at around 7:00 in the video.

I hear CEO. But I meant, is his beef with the person being taken on a personal level, fundamental level (the direction and that sort of thing), or does it impact his financial share in everything. I'm still unclear on that.

I left in the summer, just June/July,
disagreements with someone brought on to be CEO, and they are kind of...
I don't know; they're lucky, we will see how it goes...

i doubt it's money issues. this is what jed said in the interview:


probably a little of both in the fundamental and personal level. jed was probably wanting to take the company one way the other person wanted it to be taken another way. then got personal.

i wouldn't be surprised if this person he was referring to was chris larsen. but who was he referring to when he said 'they' and he mentions 'they're lucky'. sounds like jed felt he got screwed over and then it got personal. and that sucks when the people you trusted stab you in the back.

but do you think there's still a chance of jed returning, granted that he still has allies in the company?  

Considering Ripple is supposed to be the "Regulated" version of Bitcoin (i know its a stretch but those who know Ripple know what I'm getting at), I am amazed at the utter and complete lack of *any* press about it.  Its almost as if the people running the show are doing *absolutely nothing* to promote it with the various financial institutions, which completely blows me away.  Their price dropped 50% several months ago and it has sat, unchanged at $0.02 ever since.  Not a single news article mentioning it.  Zero progress.  Zero adoption.  Zero marketing.  Nothing. 

-B-

I believe this Jed McCaleb is also one suspect of being Satoshi ...right ?

please post if you can find it by chance. thanks.

there it is

http://www.youtube.com/watch?v=T1X6qQt9ONg (http://www.youtube.com/watch?v=T1X6qQt9ONg)

don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.

i tried to scrape up the video of that plunge but no success.  i remember being right there when it happened.  one of the most dramatic things i've ever seen realtime.

I'm still trying to figure out how people determine how many Ripples there are in existence.

Chris Larsen had nothing but great things to say about Jed in his 1/29 Money & Tech interview (http://www.moneyandtech.com/chris-larsen-ripple/).

Ripple Labs has just unveiled the brand new version of its charting application "Ripple Charts" which you can see here:

http://www.ripplecharts.com/#/

They've got a really amazing team of people working on the public facing components of the payment network. Personally, I have learned a great deal and I have nothing but positive experiences with everyone in the company. They are a great group of folks and a lot of fun to work with!

yeah. i wonder what things jed have in mind about whoever he had a 'disagreement' with. it sounded like it got personal.

don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.

i tried to scrape up the video of that plunge but no success.  i remember being right there when it happened.  one of the most dramatic things i've ever seen realtime.

Chris Larsen stole his Black Lotus card.

I remember this situation. It is a bit like the situation today, only that the MtGox website was totally unavailable for a long time afterwards while they worked on the 'reverification-system' and the deadlines were continually pushed, and a lot of people were very upset about the whole ordeal.

Also, do we have conclusive evidence that the breach happened through Jed's laptop, or do we again have to trust MTGox's words.

This might just be rumors, but I've heard that there were numerous flaws in the MtGox website, leading up to the 'hack', and all notices to MtGox about this was blatantly ignored.

I watched that live too. I had only started really diving into bitcoin a few weeks prior; didn't own any yet. I recall when the price quickly rebounded to ~$17 and held after that, I was sufficiently impressed with bitcoin's resiliency to buy a little.

And then promptly ground down to $1.95 by November. Those were Bitcoin's darkest times.

Jed McCaleb’s Secret Bitcoin Project: 5 Fast Facts You Need to Know

1. The Project Is Very Hush-Hush

TechCrunch notes that McCaleb's project announcement was very brief. The landing page at secretbitcoinproject.com says very little, except for the statement below.

"When I sold Mt. Gox a few years ago, Bitcoin was trading at less than a dollar. Today Bitcoin exists in a new environment. Mt. Gox is struggling to keep up. Now, I am building something that will be better for Bitcoin and better for you. I’m looking for alpha testers. -Jed"

TechCrunch adds that McCaleb is something of a Bitcoin legend, having "transformed Mt. Gox (short for Magic: The Gathering Online Exchange) from a card-trading platform into what became the world’s one-time leading Bitcoin exchange."

2. McCaleb Created Mt.Gox

Mt. Gox has been in the news quite a lot recently. The Bitcoin exchange infamously suspended withdrawals earlier this month, which sent Bitcoin's value plummeting. Despite founding the Bitcoin exchange, McCaleb is no longer involved with Mt.Gox.

3. McCaleb Also Created Ripple

Last year, Wired wrote an article about McCaleb about his new project, Ripple. Wired explains Ripple thusly:

"Like Bitcoin, Ripple comes with its own digital currency — called the XRP — and its own peer-to-peer money-moving network. But there’s a twist: Ripple makes it easy to move any type of money — you can trade dollars for Yen or Euros or even Bitcoins — and instead of exchanges, Ripple uses a set of independent operators, called gateways, who handle the business of taking and delivering the fiat cash. The company’s ambitious plan is to build a network of open-source servers that can move money around the world at a tiny fraction of the cost of a bank or a company such as Western Union."

4. McCaleb Was an Early P2P Icon

McCaleb has a long history of working on technology projects that skirt the edge of the law. He created the file-sharing program eDonkey 2000, which was shut down in 2005.

5. The Secret Project Has Unusual Funding

In their reporting on McCaleb's secret Bitcoin project, TechCrunch noted that the project has already scored some funding from supporters. The funds came through thanks to "instant messages and Skype."

The amended US suit also added Mark Karpeles’ second-in-command Gonzague ***-Bouchery and Mt. Gox’s original founder and shareholder Jed McCaleb as defendants.

Who knows what Jed McCaleb is doing next?

Yes indeed. Down 90%+ on my first purchases. It was really annoying how so many people failed to see the long-term dynamic... (almost like looking at the spec forum right now...heh).

Jed McCaleb, the creator of E-Donkey and the founder of one of the largest Bitcoin exchanges, Mt.Gox, dropped out of Ripple Labs (a company that he is also a co-founder) to 'spend his time looking into new things: man-made surf parks and artificial intelligence'. As was written in an article from Wired:  http://www.wired.com/wiredenterprise/2013/09/jed_mccaleb/

But a video recently uploaded in YouTube (http://www.youtube.com/watch?v=uQ2DCKLHaQs&t=461) says otherwise. In the video, he mentioned that he left the company due to 'disagreements with someone brought on to be CEO'.  

So which is it really?  Maybe we will hear Jed McCaleb's side of the story in full in the near future.

Ripple Labs has just unveiled the brand new version of its charting application "Ripple Charts" which you can see here:

http://www.ripplecharts.com/#/

They've got a really amazing team of people working on the public facing components of the payment network. Personally, I have learned a great deal and I have nothing but positive experiences with everyone in the company. They are a great group of folks and a lot of fun to work with!

don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.

i tried to scrape up the video of that plunge but no success.  i remember being right there when it happened.  one of the most dramatic things i've ever seen realtime.

The video is on YouTube channel "TheBitcoinChannel".

Hey ya'll. Jesse from Kraken here.
Today I have submitted my resignation from the Board of Ripple Labs. While I care about the people who work there and I wish the company the best, I cannot personally continue to support the business.

I believe that the technology and the protocol hold great promise, and have since the beginning, which is why I was the company’s first investor. Since Jed's departure, the management of the company has taken a different direction. Sadly, the vision Jed and I had for the project in the early days has been lost. I’m no longer confident in the management nor the company’s ability to recover from the founders’ perplexing allocation to themselves of 20% of the XRP, which I had hoped until recently would be returned. Prior to Jed's departure from Ripple, I had asked the founders to return their XRP to the company. Jed agreed but Chris declined—leaving a stalemate. This afternoon, I revisited the allocation discussion with the pair and again, where Jed was open, Chris was hostile.

As an investor, of course, I hope that Ripple Labs will overcome its hurdles and prove my lack of confidence misplaced. Unfortunately, unlike the founders, I don’t have swathes of XRP to dump if I don't think it's working out.

hero worship aside...the guy is acting like a dick...he destroyed the ripple price by about 60% with his announcement of selling 118% of ripple coins in existence...

He could've sold them first without telling you.

To all the Ripple pumpers of the last few years, this price crash is EXACTLY what many of us warned of when the founders got around to dumping their XRP. This is precisely the fallacy of a premine.

To all the Ripple pumpers of the last few years, this price crash is EXACTLY what many of us warned of when the founders got around to dumping their XRP. This is precisely the fallacy of a premine.

Ripple Labs has just unveiled the brand new version of its charting application "Ripple Charts" which you can see here:

http://www.ripplecharts.com/#/

They've got a really amazing team of people working on the public facing components of the payment network. Personally, I have learned a great deal and I have nothing but positive experiences with everyone in the company. They are a great group of folks and a lot of fun to work with!

Hey ya'll. Jesse from Kraken here.
Today I have submitted my resignation from the Board of Ripple Labs. While I care about the people who work there and I wish the company the best, I cannot personally continue to support the business.
I believe that the technology and the protocol hold great promise, and have since the beginning, which is why I was the company’s first investor. Since Jed's departure, the management of the company has taken a different direction. Sadly, the vision Jed and I had for the project in the early days has been lost. I’m no longer confident in the management nor the company’s ability to recover from the founders’ perplexing allocation to themselves of 20% of the XRP, which I had hoped until recently would be returned. Prior to Jed's departure from Ripple, I had asked the founders to return their XRP to the company. Jed agreed but Chris declined—leaving a stalemate. This afternoon, I revisited the allocation discussion with the pair and again, where Jed was open, Chris was hostile.
As an investor, of course, I hope that Ripple Labs will overcome its hurdles and prove my lack of confidence misplaced. Unfortunately, unlike the founders, I don’t have swathes of XRP to dump if I don't think it's working out.

To all the Ripple pumpers of the last few years, this price crash is EXACTLY what many of us warned of when the founders got around to dumping their XRP. This is precisely the fallacy of a premine.

Ripple != XRP

If you were speculating on my XRP, you were screwed right from the beginning. Seems like some people still did that and they are now ironically getting screwed BIG time by their hero "Jed" who actually was the one who wanted Ripple to be more community credit based than the current direction of becoming SWIFT 2.0... ;)

All this stuff is not why Ripple is cool, it just shows (again) why XRP are a shitty investment.

In ripple's case, how does Ripple Labs and its investors make money? XRPs seem to be the only logical way.

Certification, integration testing + assistance, consulting, getting paid to develop/prioritize certain features, ready-to-run software/hardware...

The comparison to Red Hat making money from Linux is a bit far fetched, but not a completely unreasonable one.

I'm sure they want to make money off XRP too, so far they are funded without XRP though and will likely stay that way for the forseeable future.

A blog post that I agree with: http://tpbit.blogspot.ca/2014/05/on-death-of-ripple.html

Certification, integration testing + assistance, consulting, getting paid to develop/prioritize certain features, ready-to-run software/hardware...

The comparison to Red Hat making money from Linux is a bit far fetched, but not a completely unreasonable one.

<bullshit in image reply that can change anytime>

Ripple Labs has just unveiled the brand new version of its charting application "Ripple Charts" which you can see here:

http://www.ripplecharts.com/#/

They've got a really amazing team of people working on the public facing components of the payment network. Personally, I have learned a great deal and I have nothing but positive experiences with everyone in the company. They are a great group of folks and a lot of fun to work with!

I'm sure they want to make money off XRP too, so far they are funded without XRP though and will likely stay that way for the forseeable future.

A blog post that I agree with: http://tpbit.blogspot.ca/2014/05/on-death-of-ripple.html

They even paid for a booth at the Bitcoin conference in San Jose. Why would they put up a booth and pay good money for it if they werent planning on people buying into their XRP sham?