Founder of Ripple is announcing he is dumping his XRP. Ripple crashes 35% and st

[CoinMKT.com]

Founder of Ripple is announcing he is dumping his XRP. Ripple crashes 35% and still falling.

https://xrptalk.org/topic/2629-selling-my-xrp/

Very interesting stuff going on here.  This isn't good for XRP, RL, but also Jed.  Since JEd pulled a move on a company he owns stake in, wha investors will invest in Jed?  How will he guarantee that he won't pull the rug underneath them too?    So much money invested and pumped into RL.   

I'm sure theres drama and I dont know the extent of it, however this kind of an exit is just implosion for everyone.

Food for thought.

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[haploid23]

In case anyone is too lazy to click the link:

I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I’m publicly announcing this before I start. So just fyi…. xrp sales incoming.
Thanks,
Jed.

You know what would be hilarious? This announcement caused people to dump their XRP, then Jed just buys them all up for cheaper, without dumping a single of his own XRP 

[DeathAndTaxes]

If true then that is just insane.  Ripple is so heavily "premined" that the 9B XRP he controls is more than the entire float combined.   It would be like suddenly someone has an extra 13M BTC to sell.

[CoinMKT.com]

If true then that is just insane.  Ripple is so heavily "premined" that the 9B XRP he controls is more than the entire float combined.   It would be like suddenly someone has an extra 13M BTC to sell.

Exactly, have no clue what is exactly going on...   popcorn time it seems.

[DobZombie]

Anyone want to buy my 30,000 xrp?

[crazy_rabbit]

In case anyone is too lazy to click the link:

I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I’m publicly announcing this before I start. So just fyi…. xrp sales incoming.
Thanks,
Jed.

You know what would be hilarious? This announcement caused people to dump their XRP, then Jed just buys them all up for cheaper, without dumping a single of his own XRP  

Yeah, except with 9 billion already, which is already larger then the whole market, there's no point in buying back. The market is so thin, what would be the point? More coins? 20billion? Why have more coins after you destroy the market and possibly set the whole project back?

Something else is going on, who knows what.....but it's good time to get bitcoin if thats his plan.

[Pushtheghost]

Markets should be interesting,

[DeathAndTaxes]

So it certainly looks like it is real.  He announced he would send 1 XRP to a member of the forum and then a tx was made from an address which contains 1.9 billion XRP.   I have nothing at stake so do your own research but certainly seems more plausible.

[haploid23]

Exactly, have no clue what is exactly going on...   popcorn time it seems.

He finally came to the realization that ripple can't compete with bitcoin and the large sea of other crypto.

If you can't beat them, join them.

[ElectricMucus]

Anyone want to buy my 30,000 xrp?

Do you accept i0coin?

[BittBurger]

HODL RIPPLE!!!!!!!!!!!!!

kidding.   But im about to lose my investment now.

Yesterday you could buy 1 million ripple for $6,000 USD.

Now you can buy 1 million ripple for $2,000 USD.

[Peter R]

If Ripple Labs holds 80% of the XRP off market, are those still valid tokens?  I mean, since Jed could likely single-handedly destroy the entire bid side of the order books, could Ripple Labs pre-emptively start dumping their mega-hoard before it's all over?  

Also, isn't this scenario fairly likely to eventually play out in all pre-mined/insta-mined coins?

[DeathAndTaxes]

If Ripple Labs holds 80% of the XRP off market, are those still valid tokens?  I mean, since Jed could likely single-handedly destroy the entire bid side of the order books, could Ripple Labs pre-emptively start dumping their mega-hoard before it's all over?  

Also, isn't this scenario fairly likely to eventually play out in all pre-mined/insta-mined coins?

They are valid XRPs.  There are ~8B openly traded,  RL has ~72B left, Jed has ~9B (minus unknown amount donated), the other two founders have 11B combined.  They could sell them at any time but don't worry they promise not to and what is better than a decentralized currency based around absolute trust that a for profit entity won't do anything bad.  I don't think RL will sell because they drink their own kool-aid.

[ElectricMucus]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

[DeathAndTaxes]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

[bittydude]

ORRRR it could be a complete FUDFEST to get it to drop, buy more and thennn dump. If there are large investors these might be the strings being pulled behind the scenes.

[ElectricMucus]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

Of course, what I think is that he cares at all.

[beetcoin]

In case anyone is too lazy to click the link:

I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I’m publicly announcing this before I start. So just fyi…. xrp sales incoming.
Thanks,
Jed.

You know what would be hilarious? This announcement caused people to dump their XRP, then Jed just buys them all up for cheaper, without dumping a single of his own XRP  

i think if that were true, it would sully his name and his brand.. so i'd like to see him try it. imo im not sure if i would announce something like that; what if he has to change his mind for some legitimate reason? if there were a reason to change his mind, he'd be in a no-win situation. either sell off your coins when you think it's not lucrative to do so, or hold onto your coins and face the wrath of the public.

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

wouldn't he draw criticism for dumping all, if not most, of his holdings?

[Peter R]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

Yes, exactly.  There is more going on here than we are privy to. 

And, no, this isn't FUD to get the price to drop to buy "cheap coins."  Approximately 80% of the coins are owned by Ripple Labs, and another 9% or so by Jed.  The entire premise that XRPs were a store of value was flawed, even if you believe the ripple concept is useful as a global hawala network. 

[ElectricMucus]

Yeah I know you basically hate it.

Just stating the obvious.

[Sukrim]

Anyone want to buy my 30,000 xrp?

Sure, what's your asking price?

[DeathAndTaxes]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

Yes, exactly.  There is more going on here than we are privy to. 

And, no, this isn't FUD to get the price to drop to buy "cheap coins."  Approximately 80% of the coins are owned by Ripple Labs, and another 9% or so by Jed.  The entire premise that XRPs were a store of value was flawed, even if you believe the ripple concept is useful as a global hawala network. 

Of course there are things like this:
https://bitcointalk.org/index.php?topic=174854.msg2352658#msg2352658

Yes the ledger (equivalent of the blockchain) and all transaction history is unknown prior to ledger 32,570.

[Peter R]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

Yes, exactly.  There is more going on here than we are privy to.  

And, no, this isn't FUD to get the price to drop to buy "cheap coins."  Approximately 80% of the coins are owned by Ripple Labs, and another 9% or so by Jed.  The entire premise that XRPs were a store of value was flawed, even if you believe the ripple concept is useful as a global hawala network.  

Of course there are things like this:
https://bitcointalk.org/index.php?topic=174854.msg2352658#msg2352658

Yes the ledger (equivalent of the blockchain) and all transaction history is unknown prior to ledger 32,570.

Wow, I didn't know that Ripple had a "server bug" and lost all the early history.  It sounds like Ripple uses balances rather than spent/unspent outputs like bitcoin, which I guess is why it can even function with a gapping hole in its blockchain.  

[yayayo]

Ripple is dying. Nobody needs a second paypal anyway.

Investors are screwed. Hopefully they will learn that it's not wise to invest in a coin where a tiny circle controls almost the whole supply.

ya.ya.yo!

[Sukrim]

Yes the ledger (equivalent of the blockchain) and all transaction history is unknown prior to ledger 32,570.

Yes and no, about half of the transactions are still referenced in ledger 32570 and it is not that hard to guess what they contained. Currently it seems like this history is really being lost though, as some recently released old database dumps that could have contained this data most likely didn't.

@Peter R:
Yes, Ripple operates on balances, so for the system itself 1 week of transactions missing is not that big of a deal.

@yayayo:
Ripple != XRP

[bluemeanie1]

XRP: get em while they're hot!   lol!

did anyone ever actually use Ripple for anything?

-bm

[yayayo]

@yayayo:
Ripple != XRP

Ah, c'mon. Who will care about the Ripple network  when XRP is worthless? The founder exiting is a perfect sign that he sees no future. The last bit of trust is eroded.

Ripple is a stillborn. It can't compete against bitcoin. With a few founders controlling almost all the Ripples it is not trustworthy. Even less trustworthy than fiat from the FED.

Nobody needs that.

ya.ya.yo!

[oakpacific]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

Yes, exactly.  There is more going on here than we are privy to. 

And, no, this isn't FUD to get the price to drop to buy "cheap coins."  Approximately 80% of the coins are owned by Ripple Labs, and another 9% or so by Jed.  The entire premise that XRPs were a store of value was flawed, even if you believe the ripple concept is useful as a global hawala network. 

You need them to worth something to be able to move any amount of money, unless you buy into the whole IOU stuff of course.

[Peter R]

I'm just reading through the comments at the Ripple forum: https://xrptalk.org/topic/2629-selling-my-xrp/page-14

denverlost, on 22 May 2014 - 4:31 PM, said:
Just got to say thank you Jed for ruining my savings. I'm hard working man in my 30s with two kids, It took me few years to save up $7000 and used it to purchase 1M ripples.
Today after hard sweat work I came home to realize my savings were cut by 60% thanks to Jed.
If you were so caring person about others you would realize that giving two weeks of time frame will create a lot of fear around community.
Why didn't you just make a deal with RL and sell your ripples directly to them or just dump it the day you announced it, but giving two weeks time frame just explains you have no heart or care for community.
And who gives announcements at 2AM EST? Someone that's pretty lonely I guess.
What am I suppose to do right now and how to even bring the news to my wife. I strongly believed in ripple future and it's success.
Sounds like it's a game for you sir. For some people it's life and hard earned money they lost!
 
Sam
rUQwWJBVPBbEQ6CoaoJKeGH8HDWDwysERb

Sam,
 
I feel you brother.
 
One thing we all have in common is that this day has been madness.
 
I am assuming you are like me, and invested in XRP because of the future potential.
 
I have been kicking myself all day for some trades I was proud of yesterday, that should I have waited a few hours, would have been 50x more profitable.
 
My trading wallet would have been worth 3x as much as my cold storage vault if I had just held that BTC for another day.
 
As it stands right now, all of our investments are bordering worthless.
 
At the least, they are worth significantly less than when we went to sleep last night.
 
That being said.
 
The only way you guarantee a loss is by selling.  I'm not saying hold onto all of your XRP forever, there are probably some really smart people here who sold everything between .003-.005 and will have an opportunity to buy back in at lower levels.
 
I am not one of them, but I'm sure several have made that move.
 
You have a responsibility to your family first and foremost.  As I do.
 
I am also a family man.  I have 4 children ranging in age from 9 to 2 years old.  
 
Make the choice you think is right, but at the end of the day, I don't think either of us expected XRP to be worth selling today (positive or negative).
 
Think about this - today marks the 4th anniversary of Laszlo Hanyecz buying a pizza for 10,000 bitcoins.  At that time the trade was worth about $25.  Today that would be over 5 million dollars worth of pizza.
 
Ironically, today 10,000 XRP is worth about the same.
 
What will it be worth 4 years from now?
 
How do you want to feel when you find out?
 
There will always be drama, separate yourself from it, or live in it, but don't let it make bad choices for you.
 
An old friend once told me that life is about managing CrapBoats.
 
He used to say "At any given moment, you are either dealing with a boatload of crap, watching one sail away, or watching one sail towards you."
 
It's when you forget that, that they catch you by surprise.
 
 
Stay strong Brother, This too shall pass.
 
 
-D

These kind of comments are sad to read, especially if the value proposition was never there to begin with.    

But am I missing something?  Is there actually some value proposition to XRP itself that I just can't see?  To me it seems that XRP is a token to facilitate an IOU swap (sort of like a 6 bit colored coin) and that it just needs to have a small but non-zero value to function.  (I'm not debating the argument that a global hawala system might be useful in certain situations but that seems orthogonal to value of XRP).

[bigasic]

Granted, this was a chicken shit move by the guy that dumped, but just like most everything, it should recover.. I would consider this a bump in the road. It may take a while to recover, but it most likely will. Like the op said, the only way you lose is if you sell. You can only make that decision, but do your homework and make the best one you can. IMHO, I would weather the storm and in a year or so you wont even remember this, (hopefully)..

[🏰 TradeFortress 🏰]

Granted, this was a chicken shit move by the guy that dumped, but just like most everything, it should recover.. I would consider this a bump in the road. It may take a while to recover, but it most likely will. Like the op said, the only way you lose is if you sell. You can only make that decision, but do your homework and make the best one you can. IMHO, I would weather the storm and in a year or so you wont even remember this, (hopefully)..

No it won't. Ripple is inherently flawed. It isn't decentralized, even with the source code available.

Do your homework, read up on ripplescam.org (with archive.org).

[jonald_fyookball]

These kind of comments are sad to read, especially if the value proposition was never there to begin with.    

But am I missing something?  Is there actually some value proposition to XRP itself that I just can't see?  To me it seems that XRP is a token to facilitate an IOU swap (sort of like a 6 bit colored coin) and that it just needs to have a small but non-zero value to function.  (I'm not debating the argument that a global hawala system might be useful in certain situations but that seems orthogonal to value of XRP).

I don't think this was a case of "calculated-risk
just didn't work out".

I think this was a case of "people invested large amounts
relative to their net worth in very speculative investment,
without even really understanding that investment".

So, yes it is sad for some people.... as well as foolish.

 

[Peter R]

Granted, this was a chicken shit move by the guy that dumped, but just like most everything, it should recover..

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me...  

[🏰 TradeFortress 🏰]

I think this was a case of "people motivated by greed invested large amounts
relative to their net worth into a clear pump and dump 100% premined scam without understanding
the investment".

So, yes it is sad for some people.... as well as foolish.

 

Fixed.

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me... 

How so? This occurs all the time in markets.

[Sukrim]

This is xrptalk, not the ripple forums...

As the name implies, a lot of people there are the ones who bought XRP because they believe(d) that they have significant value. Kinda ironic that Jed, their big hero, announced his sell-off there in advance.

On the other hand, he just said that in 2 weeks he'll start selling - not how much, not where and not at which price. It might very well be that he will just put in a huge ceiling order and keep the price of XRP below a certain level for the forseeable future. He did not say where this level might be, even if he is stupid brave non-smart enough to announce a sell early, I doubt he'd sell via a market order.

Granted, this was a chicken shit move by the guy that dumped, but just like most everything, it should recover..

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me...  

Satoshi provably announcing that he'd sell all his BTC (which are about 1 million+) in 2 weeks would also have significant influences on the BTCUSD rate, even though he holds only a bit less than 10% of all currently distributed BTC - Jed holds >100% of all currently distributed XRP in comparison!

[🏰 TradeFortress 🏰]

On the other hand, he just said that in 2 weeks he'll start selling - not how much, not where and not at which price. It might very well be that he will just put in a huge ceiling order and keep the price of XRP below a certain level for the forseeable future. He did not say where this level might be, even if he is stupid brave non-smart enough to announce a sell early, I doubt he'd sell via a market order.

'I plan to start selling all of my remaining XRP beginning in two weeks'

Because Ripple encourages using single addresses, I'm sure people have his xrp address to see how many coins he currently holds.

[jonald_fyookball]

I think this was a case of "people motivated by greed invested large amounts
relative to their net worth into a clear pump and dump 100% premined scam without understanding
the investment".

So, yes it is sad for some people.... as well as foolish.

 

Fixed.

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me... 

How so? This occurs all the time in markets.

Peter are you feeling ok ?  I sense great confusion in you today. lol...

[yayayo]

These kind of comments are sad to read, especially if the value proposition was never there to begin with.   

But am I missing something?  Is there actually some value proposition to XRP itself that I just can't see?  To me it seems that XRP is a token to facilitate an IOU swap (sort of like a 6 bit colored coin) and that it just needs to have a small but non-zero value to function.  (I'm not debating the argument that a global hawala system might be useful in certain situations but that seems orthogonal to value of XRP).

I don't think this was a case of "calculated-risk
just didn't work out".

I think this was a case of "people invested large amounts
relative to their net worth in very speculative investment,
without even really understanding that investment".

So, yes it is sad for some people.... as well as foolish.

 

Exactly. Now they are trying to comfort each other emotionally in their shared misery. But that will not bring their money back.

It's very sad to hear that families might suffer, because of the father sinking money into this scamcoin.

ya.ya.yo!

[Peter R]

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me... 

How so? This occurs all the time in markets.

Sorry, that was confusing.  The market reaction seems normal.  What seems strange is the entire ripple/XRP saga...

[Peter R]

Peter are you feeling ok ?  I sense great confusion in you today. lol...

Yes, I've been making mistakes all day.  Think I need to put down the computer and slowly walk away lol.

[🏰 TradeFortress 🏰]

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me... 

How so? This occurs all the time in markets.

Sorry, that was confusing.  The market reaction seems normal.  What seems strange is the entire ripple/XRP saga...

A pump and dump will only end with a dump.

[Phinnaeus Gage]

Founder of Ripple is announcing he is dumping his XRP. Ripple crashes 35% and still falling.

https://xrptalk.org/topic/2629-selling-my-xrp/

Very interesting stuff going on here.  This isn't good for XRP, RL, but also Jed.  Since JEd pulled a move on a company he owns stake in, wha investors will invest in Jed?  How will he guarantee that he won't pull the rug underneath them too?    So much money invested and pumped into RL.  

I'm sure theres drama and I dont know the extent of it, however this kind of an exit is just implosion for everyone.

Food for thought.

Ripple's not part of my current onslaught, but Travis Skweres of CoinMKT, the OP, is, albeit I caught win of today's news 2-3 days ago via a phone call, but not paid it much mind, at the time, due to what the overall conversation pertained to - Brock Pierce.

If you don't think none of this is related, then I suggest pulling another $7,000 (interesting number) outta your savings and buy a shitload of alts currently being developed at Bitropolis.

This post brought to by The JaJa Group Int.: Where shit just got real!

[seriouscoin]

where is Coinseeker?.... the Ripple troll that always wish BTC crashes and his XRP rise.....

How do you feel now bitch?

[bluemeanie1]

maybe this song will help cheer everyone up:

https://www.youtube.com/watch?v=zcSlcNfThUA&feature=kp

I know I'm going to miss these guys.  XRP giveaways, anonymous shill forum postings, flip-flopping on their licensing status, etc.  Almost brings brings a tear to my eye.

-bm

[🏰 TradeFortress 🏰]

where is Coinseeker?.... the Ripple troll that always wish BTC crashes and his XRP rise.....

How do you feel now bitch?

David Schwartz stopped shilling on that account, duh.

[bluemeanie1]

I really liked David Schwartz' forum icon though.

after a while though he stopped talking to me because I asked too many hard questions.

-bm

[queptiv]

600 million ripple dropped the market 70% lol


9 billion to go!

[bluemeanie1]

600 million ripple dropped the market 70% lol


9 billion to go!

I wonder if people will keep them as souvenirs?

-bm

[queptiv]

600 million ripple dropped the market 70% lol


9 billion to go!

I wonder if people will keep them as souvenirs?

-bm

haha, I wonder


its an interesting thing to watch, fast market

[bluemeanie1]

they should run a fun promo.  You can cash in a million XRPs for a t-shirt that says:  "I WAS AN XRP MILLIONARE AND ALL I GOT WAS THIS LOUSY T-SHIRT"

-bm

[bluemeanie1]

here's a fun game, try to find a forum posting by me where I am anything but highly critical of Ripple.

-bm

[Sukrim]

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me... 

How so? This occurs all the time in markets.

Sorry, that was confusing.  The market reaction seems normal.  What seems strange is the entire ripple/XRP saga...

A pump and dump will only end with a dump.

Just like inputs.io...

I really liked David Schwartz' forum icon though.

after a while though he stopped talking to me because I asked too many hard questions.

-bm

Weren't you the one who repeatedly misquoted me and who still believes that it is not possible to see how many XRP exist?!

here's a fun game, try to find a forum posting by me where I am anything but highly critical of Ripple.

-bm

Critical != knowledgable, unfortunately. This sometimes feels more like "discussing" evolution with a creationist... oh well, feel free to be critical, please get better arguments than TradeFortress' ramblings.

[bluemeanie1]

no that wasn't me.  I basically determined early on that Ripple had no organizational appeal, got tired of arguing against renta-boosters and marketing droids and just let the thing burn itself out.

-bm

[defaced]

[queptiv]

no that wasn't me.  I basically determined early on that Ripple had no organizational appeal, got tired of arguing against renta-boosters and marketing droids and just let the thing burn itself out.

-bm

how do you feel today? now that its crashing

[bluemeanie1]

no that wasn't me.  I basically determined early on that Ripple had no organizational appeal, got tired of arguing against renta-boosters and marketing droids and just let the thing burn itself out.

-bm

how do you feel today? now that its crashing

[jonald_fyookball]

My first knee jerk reaction is "told you so".... But I'm trying to let that go and have some compassion for the people losing money even if they made a bad decision.  We all make bad decisions.

Although , some more than others....  

[Zer0Sum]

Critical != knowledgable, unfortunately. This sometimes feels more like "discussing" evolution with a creationist... oh well, feel free to be critical, please get better arguments than TradeFortress' ramblings.

So what's new in the spring of 2013?
Did you hear that Ripple is the "future of money"?

[jonald_fyookball]

The nutty thing is if you read the xrp forum, many are talking about doubling down, loading up on xrp while it's cheap.

[mkc]

I was always wondering how they come up with 400B ripple at eh first place. Still confused.

[MarketNeutral]

He clearly broadcast his intentions, so either XRP truly is worthless and Jed just completely gave up on his position, or this is a massive pump-and-dump.

We can only speculate at this point, but it's likely that Jed has already made enough money with Ripple that he's content to leave 'scorched earth' behind (no more XRP pumps left), or he simply sees futility in pursuing any further XRP position. It's worth noting that the Ripple system is not the same as XRP.

I'd like to know more about his falling out with Ripple Labs, and if this is not a kind of retribution or sour grapes.

[DeathAndTaxes]

I was always wondering how they come up with 400B ripple at eh first place. Still confused.

It is 100B and they just decided that is how many there would be, wrote the code to given them that much, and that is how many there was.   And a couple years later 93%+ of it is held by three guys and a for profit corporation. 

[jubalix]

i have to wonder if this isn't a good buying opportunity for xrp. It went to 333333/btc and is back to 150000/btc.

hmmm the worst is now over.

It also serves as some what of and interesting test bed if satoshi was to sell. I am sure satoshi is watching this with some interest. However Satoshi seems a lot more reasoned out and stable than this jed character and ripple and co, with the exception of David Swartz. It seems so sort if intercine issue. It looks like a FU from JED to Ripple. Also a buying opportunity........

I like ripple to some extent, however there seem to be not enough sever nodes and how the list things update, whatever they were called...that's an issue inmho.

One of the reasons I like the Peercoin community is the lack of fractious Drama and the clear cut goals.

[DeathAndTaxes]

I wouldn't say the worst is over.   Jed owns more XRP than the entire global float.   While you could make a comparison to Satoshi it would be like Satoshi dumping 15M "bonus" BTC on the market.   How low the price goes really depends on how it is sold off.  If dumped as a 9B XRP market order it could crush the price 99% from here.   On the other hand one way to "sell" it would be a massive 9B limit order just above the current market price.   While the price wouldn't go down (at least not directly) it certainly wouldn't be going up for a long time.

[Snail2]

Jed announced his dump on XRPTalk first so many of them sold before the price crashed. Now as I see they happily buying back and investing more money into XRPs.

[NWO]

You're crazy if you buy now. Jed has told everyone his intentions. You are all going to get billions of XRP dumped on you. Why buy now? The price is going to fall off a cliff in two weeks.

[jubalix]

but I think that the announcement will have already priced in the act

[Snail2]

You're crazy if you buy now. Jed has told everyone his intentions. You are all going to get billions of XRP dumped on you. Why buy now? The price is going to fall off a cliff in two weeks.

It depends on Jed. If he dumps all his holdings in one go then yes, we can see a rather nasty crash landing.
BTW currently they have another interesting issue what you can see here: https://xrptalk.org/topic/2625-pushing-genesis-back-to-0/...

[Sukrim]

You're crazy if you buy now. Jed has told everyone his intentions. You are all going to get billions of XRP dumped on you. Why buy now? The price is going to fall off a cliff in two weeks.

Idepends on Jed. If he dumps all his holdings in one go then yes, we can see a rather nasty crash landing.
BTW currently they have another interesting issue what you can see here: https://xrptalk.org/topic/2625-pushing-genesis-back-to-0/...

It is a bit funny to see the people at xrptalk commenting from the sidelines or suggesting to bruteforce several 256bit hashes via BOINC... or requesting stuff that is available with a simple one-liner (like the balances of all wallets at ledger 32570). I recommend to check out the actual thread (same name) on the ripple forums.

Also it is not too much of an issue anyways (there are a couple dozen accounts and a few dozen transactions that we don't know about the order of - we know the results though), it is more annoying if you for example want to query the first transaction for every account, then you have to write additional workarounds just for these select few. It is still quite clear who is who on ledger 32570 (one account holds nearly 80 billion XRP... guess whom this one belongs to, huh?) and all in all just about 1 week of transaction history is missing.

Having said that, it would still be nice to have these transactions available, not just for transparency (and logical) reasons but also because it would make it easier to work with some API calls.

[NWO]

but I think that the announcement will have already priced in the act

What act? Jed hasn't dumped his 9 billion XRP yet. This is merely people speculating how low it will go. You have not seen anything yet...

[yayayo]

but I think that the announcement will have already priced in the act

What act? Jed hasn't dumped his 9 billion XRP yet. This is merely people speculating how low it will go. You have not seen anything yet...

I agree. It's just the beginning of the end. I can't understand why people did invest in this in the first place if they knew that founders kept almost all XRP for themselves to release them as they see fit.

Prediction: Ripple will be non-existent two years from now.


ya.ya.yo!

[freequant]

The nutty thing is if you read the xrp forum, many are talking about doubling down, loading up on xrp while it's cheap.

Such good sample. Much potential for retrospective rationalization. Quoting that one for future reference.

[jonald_fyookball]

The nutty thing is if you read the xrp forum, many are talking about doubling down, loading up on xrp while it's cheap.

Such good sample. Much potential for retrospective rationalization. Quoting that one for future reference.

what do you mean? 

[bluemeanie1]

The nutty thing is if you read the xrp forum, many are talking about doubling down, loading up on xrp while it's cheap.

Such good sample. Much potential for retrospective rationalization. Quoting that one for future reference.

what do you mean? 

you don't speak Doge? 

-bm

[jonald_fyookball]

lol..k.

i think that was a mix of doge and bitcoinforum-intellectualeze.

[jonald_fyookball]

Whatever (Jed's) motives are, this is a Blessing in disguise for many here. A huge opportunity just presented itself in front of us to increase our core holding many folds. Those who plays their cards correctly may simply go from currently having 100,000 - 200,000 XRPs to sitting on a pile of 1,000,000 - 2,000,000 XRP when the shows over or perhaps even before the show even begins in two weeks...

Quoted for entertainment purposes only :-)

Although,  to be fair, I'm sure many were laughing at bitcoiners in the same situation.

[big ears]

Why did the ripple price on coinmarketcap shoot up a week or two before this announcement? It's dropped like a stone now, but it must have increased by 50% + in the weeks before the announcement.

[Zer0Sum]

He clearly broadcast his intentions, so either XRP truly is worthless and Jed just completely gave up on his position, or this is a massive pump-and-dump.

We can only speculate at this point, but it's likely that Jed has already made enough money with Ripple that he's content to leave 'scorched earth' behind (no more XRP pumps left), or he simply sees futility in pursuing any further XRP position. It's worth noting that the Ripple system is not the same as XRP.

I'd like to know more about his falling out with Ripple Labs, and if this is not a kind of retribution or sour grapes.

Jed has been a Missing Person for at least 18 months...
While founding/running the most opaque, secretive, least "community" friendly Crypto Network on the planet...
Fronted by a truly shitty Client that reeks of contempt for it's users...
(For example, logging people off 100s of times daily...
Filing Github "bug reports" if your money goes missing, etc)

Now, suddenly, in wake of his ignominious OUSTER... Jed posts:

“I plan to start selling all of my remaining XRP beginning in two weeks.
Because I have immense respect for the community members and want
to be transparent, I’m publicly announcing this before I start.”

You simply could not make up this *** monstrous pinnacle of hypocrisy ***...
Because only in Real Life would such behavior be remotely believable.

The pinheads that populate/copulate at Ripple Forums...
Are actually loading up on and gorging on this stinking pile of worthless XRP...
In between long sessions of fellating Jed and themselves in turn.

No doubt, it will all probably *** just disappear ***...
When Larsen get around to unloading this turd to Western Union or whomever.

[ElectricMucus]

No doubt, it will all probably *** just disappear ***...

What you dream at night.

[CoinMKT.com]

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."

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

[bluemeanie1]

rearranging the deck chairs.... 

-bm

[vipgelsi]

What a creep I hope it runs up after he sells.

[Otsu]

You just can't trust anyone nowadays.

[🏰 TradeFortress 🏰]

[Sukrim]

Why did the ripple price on coinmarketcap shoot up a week or two before this announcement? It's dropped like a stone now, but it must have increased by 50% + in the weeks before the announcement.

Fidor bank announced they'll integrate with Ripple, there are most likely several more banks and financial institutions in the pipeline, their client got a slight overhaul and XRP are still relatively strongly correlated with BTC movements, so once BTC went up, XRP went up too.

[🏰 TradeFortress 🏰]

Why did the ripple price on coinmarketcap shoot up a week or two before this announcement? It's dropped like a stone now, but it must have increased by 50% + in the weeks before the announcement.

Fidor bank announced they'll integrate with Ripple, there are were most likely several more banks and financial institutions in the pipeline, their client got a slight overhaul and XRP are still relatively strongly correlated with BTC movements, so once BTC went up, XRP went up too.

[Sukrim]

Any sources for your claims, Mr. inputs.io + coinlenders?

[Anduck]

The value of XRP still isn't important at all. TradeFortress (inputs.io etc. scammer) made the site 'ripplescam.org' which full of blatant lies. That is the main reason he can't change his attitude anymore.

The main problem here is that this scammer TradeFortress still has people behind him who trust him and his words because he, TradeFortress, the scammer, has given away small sums of bitcoins to very large crowd of people. Think it as bribing. When you scam thousands of bitcoins it's worth 'investing' a part.

[🏰 TradeFortress 🏰]

The value of XRP still isn't important at all. TradeFortress (inputs.io etc. scammer) made the site 'ripplescam.org' which full of blatant lies. That is the main reason he can't change his attitude anymore.

[atoni]

Yes you are a scammer, I lost tons to you. People beware of TradeFortress!

[🏰 TradeFortress 🏰]

[bluemeanie1]

YourLogicalFallacyIs.com?

the creator of that site must be real fun at parties.

-bm

[Anduck]

Whoa! TradeFortress you just amazed me. You think Ripple is a cryptocurrency? LOL

[🏰 TradeFortress 🏰]

Whoa! TradeFortress you just amazed me. You think Ripple is a cryptocurrency? LOL

[Anduck]

Whoa! TradeFortress you just amazed me. You think Ripple is a cryptocurrency? LOL

<image reply>

Indeed, Ripple is not a cryptocurrency! Now quit trolling please.

[big ears]

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."

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

Could someone post some more links about this story?

[Starsheriff2.0]

In my view Ripple will crash within the two next months to the bottom!
Sad for me - I invested a lot and paid a huge price for it 

[jonald_fyookball]

In my view Ripple will crash within the two next months to the bottom!
Sad for me - I invested a lot and paid a huge price for it 

if you see your folly, get out now and cut your losses.