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

[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/