Jed McCaleb's Exit from Ripple Labs: The Plot Thickens

[MarketNeutral]

More like the plot sickens.

eDonkey? Yeah, that's been hyped to hell and back with underwhelming results, and sadly, was one of Jed's better projects. MtGox was awful when Jed was on board....and Ripple? No thanks, Jed. Ripple actually may do better without him. Let's hope Jed's next project doesn't disappoint like so many others.

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[Bit_Happy]

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 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.

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).

History does tend to go in repeating cycles.
Does that mean the next BTC low will be below $120....? Perhaps not this time.

[Sydboy]

so how long before you all jump on the next <insert 3 letter>-coin here ?

[tokeweed]

thanks for moving.

[tinyfox266]

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.

mark

[PereguineBerty]

Assuming Bitcoin wasn't created by a group, I believe Jed McCaleb is the most likely single suspect for being the creator of Bitcoin - that's if the Satoshi that was exposed in the news a while back isn't the real Satoshi.

This guy''s a talented programmer who knows his stuff about peer-to-peer networks. He set up the first Bitcoin exchange (MtGox) then sold it when it wasn't "technically interesting" any more and moved on to create Ripple, which has the potential to be bigger than Bitcoin.

Makes me wonder what else he's got up his sleeve.

[foaman]

edonkey was groundbreaking software in its day.  that was back before Napster.  I learned how to pick locks using a document I found on edonkey.  I had no idea Jed was the same guy.

[Zer0Sum]

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!

Unfortunately, like everything Ripple...
This only works 50% of the time (it was down 2 hours ago)...
Congratulations, after > 1 year Ripple Charts continues to work intermittently.

And what the numbers REALLY mean... no context = who knows? 
There always been nothing but opacity.
 
I doubt that anyone has made a dime on the Ripple network...
Except for the "great group of folks" known as the "Principals". 

[Sukrim]

Fortunately like everything Ripple the code is Open Source and you can just launch your own instance if the public ones are down or overloaded...

https://github.com/ripple

[smoothie]

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".

[klintay]

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".

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...

[El Dude]

LOL I always knew ripple was a scam.

[elux]

http://www.reddit.com/r/Ripple/comments/26ccz3/ripple_board_member_resigns/

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.

[cypherdoc]

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".

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.

[klintay]

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.

doesn't really make much difference if he did or did not to be honest...the price is crashing now and it will crash again when he finally unloads all (if he does it as an open sale on the market).

He also could have locked up the ripple indefinitely and put an end to the controversy of this 20% holdings BS.

However it seems like CL doesn't want to let his 32 million usd go...

The question is...will Jed and Chris come to an agreement and stop this epic dump from happening

[cypherdoc]

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.

[kelsey]

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.

More the fact in cryptos most, across the board, seem to be very ignorant of how big a number a billion really is.

[🏰 TradeFortress 🏰]

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.

[smoothie]

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!

You have been awfully quiet on this forum.

But here is more info for the kiddies that proved what I suspected would happen all along even way back a year ago when you called me a troll for calling ripple a scam....now look...

http://www.reddit.com/r/Ripple/comments/26ccz3/ripple_board_member_resigns/

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.

[Sukrim]

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 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.