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

[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.

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.

I think what we're seeing is that it's not enough to create a protocol that is cool or efficient. Being technically possible is not enough. The protocol has to make economic sense as well within the current paradigm of virtual currencies.

In ripple's case, how does Ripple Labs and its investors make money? XRPs seem to be the only logical way. But the way they issued them stands in such stark contrast to what we've learned with Bitcoin such that people don't trust them or think they're being unfair. Unfortunately or not, Bitcoin has set a new standard that is almost impossible to live up to unless you're a pure philanthropist like Satoshi.

That's a serious problem that I for one never saw a good way to reconcile in Ripple's case.

[1715092511]

1715092511

[Sukrim]

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.

[cypherdoc]

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 don't think Chris realizes how disingenuous he's been about this XRP issue.

All along he's been saying XRP is not the way the company plans to make money. "they're just trading units" he's insisted. Well, what Jesse said...

[Sukrim]

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

[🏰 TradeFortress 🏰]

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

[Zer0Sum]

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.

Their Financial Statements and Tax Filings are in USD...
Which I'm sure are done by an elite Silicon Valley Accounting Firm.

Most of their Real World deals must be in fiat...
XRP is just something Jed invented to facilitate network currency exchange...
And a Shiny Object to sell to idiots in the Crypto World.

Now that Chris is done bitch-slapping the whining dev hoes...
He can go back to pimping the Ripple network to Banks.

[Sukrim]

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

<bullshit in image reply that can change anytime>

Try harder, scammer scum.

[LiteCoinGuy]

RIP Ripple.

[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!

Now sit around a fire and sing koombaiyah!

lol what a joke.

Mr. Bigg been silent for 2+ months now.

[smoothie]

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

Um they had VC's invest with them...so that they could pull off their XRP premine crap and sell the idea to others. They are not separate. Their investors expect to make a return...how will that happen?

By selling XRP. 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?

[Bit_Happy]

Ripple Labs has been honest and upfront about the huge amount of XRP they initially kept control of.
They need to be easier for mainstream users or they are doomed, but the "pre-mine" does not make them a scam. In the real-world, companies (CEO's + insiders) commonly control more than 50% of their stock; If anyone wants to claim every listed stock is a "scam", go ahead since you might be accurate enough.

[Sukrim]

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?

Because by trading XRP only you are seriously limiting yourself by using Ripple only as "another Altcoin", not as decentralized exchange and payment network.

Afaik. they set up a gateway in Amsterdam for stroopwaffels (sirup soaked waffles) to demonstrate how Ripple and their instant gateway software works. I'm not sure if they tried to market XRP even as an alternative to BTC, let alone as being superior.