CoinMKT.com (OP)
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May 22, 2014, 09:55:15 PM |
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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
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May 22, 2014, 10:00:06 PM |
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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 ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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DeathAndTaxes
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Gerald Davis
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May 22, 2014, 10:02:36 PM |
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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.
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CoinMKT.com (OP)
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May 22, 2014, 10:03:30 PM |
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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.
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DobZombie
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May 22, 2014, 10:05:52 PM |
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Anyone want to buy my 30,000 xrp?
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Tip Me if believe BTC1 will hit $1 Million by 2030 1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
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crazy_rabbit
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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May 22, 2014, 10:07:53 PM |
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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 ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) 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.
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more or less retired.
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Pushtheghost
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May 22, 2014, 10:10:01 PM |
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Markets should be interesting,
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DeathAndTaxes
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Gerald Davis
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May 22, 2014, 10:10:56 PM |
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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.
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haploid23
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May 22, 2014, 10:11:40 PM |
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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.
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ElectricMucus
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May 22, 2014, 10:14:11 PM |
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Anyone want to buy my 30,000 xrp?
Do you accept i0coin?
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BittBurger
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May 22, 2014, 10:25:50 PM |
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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.
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Peter R
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May 22, 2014, 10:44:14 PM |
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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?
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DeathAndTaxes
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Gerald Davis
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May 22, 2014, 10:47:01 PM Last edit: May 22, 2014, 11:03:06 PM by DeathAndTaxes |
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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.
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ElectricMucus
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May 22, 2014, 10:54:04 PM |
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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.
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DeathAndTaxes
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Gerald Davis
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May 22, 2014, 10:55:06 PM |
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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. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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bittydude
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May 22, 2014, 10:55:50 PM |
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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.
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ElectricMucus
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May 22, 2014, 10:57:22 PM |
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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. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Of course, what I think is that he cares at all.
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beetcoin
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May 22, 2014, 10:58:53 PM |
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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 ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) 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. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) wouldn't he draw criticism for dumping all, if not most, of his holdings?
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Peter R
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May 22, 2014, 11:04:42 PM |
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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. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) 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.
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ElectricMucus
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May 22, 2014, 11:10:47 PM |
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Yeah I know you basically hate it.
Just stating the obvious.
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