Bitcoin Forum
June 24, 2017, 10:39:54 AM *
News: Latest stable version of Bitcoin Core: 0.14.2  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 »  All
  Print  
Author Topic: Founder of Ripple is announcing he is dumping his XRP. Ripple crashes 35% and st  (Read 5149 times)
CoinMKT.com
Jr. Member
*
Offline Offline

Activity: 56


View Profile
May 22, 2014, 09:55:15 PM
 #1

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.

CoinMkt.com - #1 Crypto Exchange - Trade USD and Cryptos Securely.
1498300794
Hero Member
*
Offline Offline

Posts: 1498300794

View Profile Personal Message (Offline)

Ignore
1498300794
Reply with quote  #2

1498300794
Report to moderator
1498300794
Hero Member
*
Offline Offline

Posts: 1498300794

View Profile Personal Message (Offline)

Ignore
1498300794
Reply with quote  #2

1498300794
Report to moderator
Join the Crowdfunding Revolution ►► FundYourselfNow.com ◄◄ Crowdsale with
attractive rewards
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1498300794
Hero Member
*
Offline Offline

Posts: 1498300794

View Profile Personal Message (Offline)

Ignore
1498300794
Reply with quote  #2

1498300794
Report to moderator
haploid23
Legendary
*
Offline Offline

Activity: 812



View Profile WWW
May 22, 2014, 10:00:06 PM
 #2

In case anyone is too lazy to click the link:

Quote
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

DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
May 22, 2014, 10:02:36 PM
 #3

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
Jr. Member
*
Offline Offline

Activity: 56


View Profile
May 22, 2014, 10:03:30 PM
 #4

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.

CoinMkt.com - #1 Crypto Exchange - Trade USD and Cryptos Securely.
DobZombie
Hero Member
*****
Offline Offline

Activity: 756


TheBitcoinMuseum.com


View Profile
May 22, 2014, 10:05:52 PM
 #5

Anyone want to buy my 30,000 xrp?

The Bitcoin Museum is back under my control, but I still need to go through all the code. DO NOT PURCHASE ANYTHING FROM IT

The Biggest Collection of Bitcoin Memorabilia The Bitcoin Museum
Series 2 BitcoinNerd 1g Silver coin thread!
Discount Jewellery! Noella Jean Jewellery



Buy premium Champanges, Spirits & Wines in Australia! My Bitmit Items

Tip Me if you Hate Justin Bieber 1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
crazy_rabbit
Legendary
*
Offline Offline

Activity: 1162


RUM AND CARROTS: A PIRATE LIFE FOR ME


View Profile
May 22, 2014, 10:07:53 PM
 #6

In case anyone is too lazy to click the link:

Quote
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

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.

more or less retired.
Pushtheghost
Full Member
***
Offline Offline

Activity: 169


View Profile
May 22, 2014, 10:10:01 PM
 #7

Markets should be interesting,
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
May 22, 2014, 10:10:56 PM
 #8

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
Legendary
*
Offline Offline

Activity: 812



View Profile WWW
May 22, 2014, 10:11:40 PM
 #9

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
Legendary
*
Offline Offline

Activity: 1540


Drama Junkie


View Profile
May 22, 2014, 10:14:11 PM
 #10

Anyone want to buy my 30,000 xrp?

Do you accept i0coin?

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
BittBurger
Hero Member
*****
Offline Offline

Activity: 728


View Profile
May 22, 2014, 10:25:50 PM
 #11

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.


Bitcoin's true purpose alluded-to in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
https://blockchain.info/tx/4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b?show_adv=true
Peter R
Legendary
*
Offline Offline

Activity: 1036



View Profile
May 22, 2014, 10:44:14 PM
 #12

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?

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
May 22, 2014, 10:47:01 PM
 #13

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
Legendary
*
Offline Offline

Activity: 1540


Drama Junkie


View Profile
May 22, 2014, 10:54:04 PM
 #14

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.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
May 22, 2014, 10:55:06 PM
 #15

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
bittydude
Member
**
Offline Offline

Activity: 84


View Profile
May 22, 2014, 10:55:50 PM
 #16

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
Legendary
*
Offline Offline

Activity: 1540


Drama Junkie


View Profile
May 22, 2014, 10:57:22 PM
 #17

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

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

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
beetcoin
Sr. Member
****
Offline Offline

Activity: 434


View Profile
May 22, 2014, 10:58:53 PM
 #18

In case anyone is too lazy to click the link:

Quote
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

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

wouldn't he draw criticism for dumping all, if not most, of his holdings?
Peter R
Legendary
*
Offline Offline

Activity: 1036



View Profile
May 22, 2014, 11:04:42 PM
 #19

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

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. 

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
ElectricMucus
Legendary
*
Offline Offline

Activity: 1540


Drama Junkie


View Profile
May 22, 2014, 11:10:47 PM
 #20

Yeah I know you basically hate it.

Just stating the obvious.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
Pages: [1] 2 3 4 5 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!