Jed's Message at XRPTalk

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Re: Jed's Message at XRPTalk

Postby donch » Thu May 22, 2014 6:57 pm

ahbritto wrote:We've heard and shared your concern about the founders' XRP allotment. Prior to today, we've been working on a founders' XRP lock up plan, which Chris and I are participating in. You can rest assured that a dumping event like this won't happen from other co-founders.


Did Ripple Labs offer to buy Jed's XRP and prevent this market manipulation?
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Re: Jed's Message at XRPTalk

Postby mahieddine » Thu May 22, 2014 6:57 pm

@ahbritto
Your message doesn't comfort me as i see clearly the lack the professionalism, when one of the co-founder do stuff like this (and we all know he's dumping XRP since 4 weeks at least now) its unacceptable you can swear that this will not happen again but no one will believe you
how can you let a person working with you, he doesn't even came since a year like you told us ?

I put all my economy on XRP, i have a family and i lost a lot of money and a little *** guy came and sell 8 billions ...
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Re: Jed's Message at XRPTalk

Postby zibster123 » Thu May 22, 2014 7:04 pm

Much appreciated, Arthur, especially the part about being well-funded.

Do we have any way of knowing whether Jed's ripples are being bought by insiders versus the open market?
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Re: Jed's Message at XRPTalk

Postby kartoffel » Thu May 22, 2014 7:07 pm

To be fair they did tell us not to invest in XRP like 40 to 50 times mahieddine.
But I sense from ahbritos message they do care about this more than they are making out. Seriously dumb move not to lock Jed into any kind of contract. Really dumb. But I guess mass distribution had to start sometime, might as well be now. Just hope volatility like this doesn't put of major banks and investors.
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Re: Jed's Message at XRPTalk

Postby donch » Thu May 22, 2014 7:10 pm

Lets add this up zero sum style. Everyone on this forum has an interest in Ripple doing well. Some people have invested in XRP and some have stuck with cryptocurrency IOU's and some have stuck with fiat IOU's. To acquire these assets real money has come in mostly through Bitstamp. Real money affecting real lives. Possibly risky choices have been made.

Jed falls out with the co-founders and decides he's going to take all that value back out via Bitstamp. His gain, our loss. Politics between three people affecting many, many more people. This stinks. If one lesson has been learned it's steer clear of pre-mined cryptocurrency, you're at the mercy of a few people's greed.

Edit: Remember if Ripple fails, your IOU's will be worthless, just like XRP is now becoming. If this was a regulated exchange, the market would be closed due to irregular trading activity.
Last edited by donch on Thu May 22, 2014 7:23 pm, edited 1 time in total.
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Re: Jed's Message at XRPTalk

Postby mahieddine » Thu May 22, 2014 7:19 pm

We you invest in something you need to have all the parameters, i had them all except this scammer
If any bank in the world started to use bitcoin, bitcoin price would be at 5000€ or more ....
XRP had all the advantages of the two world and pfff i can't even talk correctly
...
going to relax ...
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Re: Jed's Message at XRPTalk

Postby celticwarrior72 » Thu May 22, 2014 7:24 pm

mahieddine wrote:We you invest in something you need to have all the parameters, i had them all except this scammer
If any bank in the world started to use bitcoin, bitcoin price would be at 5000€ or more ....
XRP had all the advantages of the two world and pfff i can't even talk correctly
...
going to relax ...


Proper research would have led you here: https://ripple.com/forum/viewtopic.php? ... ing#p40549

Without lockups, a significant dump was always a risk. Caveat emptor.

You know what though? The network help up beautifully under stress and my USD.Bitstamp is still a USD.bitstamp and BTC.bitstamp is still a BTC.bitstamp. The price of XRP is almost irrelevant to the functioning of the network. And if you've been paying attention, that's what RL has been saying all along.

Arthur - thanks for the post.

- CW
Follow Coinist on Twitter: https://twitter.com/_coinist
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Re: Jed's Message at XRPTalk

Postby pigeons » Thu May 22, 2014 7:25 pm

donch wrote:Edit: Remember if Ripple fails, your IOU's will be worthless, just like XRP is now becoming.


Not at all. Most of the redemption agreements I have with others say that the IOUs are still owed despite ripple "failure" (for certain definitions of failure, for example, theft of my private keys is not a ripple failure).
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Re: Jed's Message at XRPTalk

Postby donch » Thu May 22, 2014 7:28 pm

pigeons wrote:
donch wrote:Edit: Remember if Ripple fails, your IOU's will be worthless, just like XRP is now becoming.


Not at all. Most of the redemption agreements I have with others say that the IOUs are still owed despite ripple "failure" (for certain definitions of failure, for example, theft of my private keys is not a ripple failure).


Well the proof will be in Bitstamp honouring their IOU's when Jed chooses to withdraw his substantial amounts of real BTC or real USD.
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Re: Jed's Message at XRPTalk

Postby RafOlP » Thu May 22, 2014 7:29 pm

donch wrote:Lets add this up zero sum style. Everyone on this forum has an interest in Ripple doing well. Some people have invested in XRP and some have stuck with cryptocurrency IOU's and some have stuck with fiat IOU's. To acquire these assets real money has come in mostly through Bitstamp. Real money affecting real lives. Possibly risky choices have been made.

Jed falls out with the co-founders and decides he's going to take all that value back out via Bitstamp. His gain, our loss. Politics between three people affecting many, many more people. This stinks. If one lesson has been learned it's steer clear of pre-mined cryptocurrency, you're at the mercy of a few people's greed.

Edit: Remember if Ripple fails, your IOU's will be worthless, just like XRP is now becoming.

This is quite dramatic, I think. In the short term its a nightmare if you are sitted in XRPs, I agree. In the long run, I agree with Arthur, the network they are bulding among FIs, regulators, etc, is so valuable as the protocol network. I agree with Sukrim, this means XRP distribution, if Jed sells too cheap, its like a giveaway, if he sells at maket prices (before the general panic!) we have a huge market maker. Ripple Labs does not need XRP to be expensive to survive and it seems to me that they seek for a long run goal, when XRP value will be like a rock and the market is so big that it will absorb any big dumps. And if this day comes, why would anyone dump XRPs when they have value all around the world, being convertible to any currency you like?
I see this as a positive fact, more XRP to the community, less XRP in founder's hands. Bitcoin is 35% concentrated in the biggest 100 wallets.
As I said before, great opportunity to long runners and for Ripple Labs to buy cheap XRP.

EDIT typos
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