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Someone dumped a huge amount of XRP... (10/29/17)

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The person is faced with a terrible choice and on top of that gives themselves zero mathematical chance to improve it.  

You bet on a single trade for maximum damage.  An emotional decision from someone that probably needs to think about diversifying their portfolio and account for better exit strategies.

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5 hours ago, JoelKatz said:

I've never understood why someone would do this. Maybe if they were on a platform where they were leveraged or something and were forced, but otherwise, why do this? No matter how much confidence you've lost or how much you want to put your money somewhere else, can you possibly justify taking such a huge loss just to sell a few minutes faster?

If I'm not wrong Jed McCaleb, Cofounder of Ripple still own 5 billions XRP (from 9 billions) and now he focus on Stellar Lumens-XLM his new cryptocurrency. So anything is possible. With this amount of XPR in the wallet he can keep XRP price low for years and make a lot of money to pump in XLM.

If anyone has more info regarding this please fell free to correct me.

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11 minutes ago, SilXRP said:

If I'm not wrong Jed McCaleb, Cofounder of Ripple still own 5 billions XRP (from 9 billions) and now he focus on Stellar Lumens-XLM his new cryptocurrency. So anything is possible. With this amount of XPR in the wallet he can keep XRP price low for years and make a lot of money to pump in XLM.

If anyone has more info regarding this please fell free to correct me.

This was not Jed. Jed does not hold his XRP Ripple does. Jed is given a small daily amount by Ripple which he does, in fact, sell each day. 

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7 minutes ago, Apollo said:

Jed is given a small daily amount by Ripple which he does, in fact, sell each day. 

Is he required to sell each day?  A deliberately nasty plan could be to accumulate and dump.  Is that an option for him?

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1 hour ago, Hodlezerper said:

Can anyone clarify what @JoelKatz meant by is previous comment about selling a few minutes earlier? I don't understand the insight based on the large sell.

It's smarter to sell such a large position in small portions for a better return instead of one instant sell-off.

If xrp is trading at 20 cents and total xrp bids for 1.5 million xrp is not reach until 15 cents, that means dumping on market will net you an average of anywhere between 15-18 cents (most likely on the lower end) per xrp.

It would have been much smarter to sell a portion of your xrp sporadically around 19-20 cents, wait for buy orders to pop up in that range again, sell, rinse and repeat..netting you a higher sell average per xrp.

I can understand people who market dump small positions, but this large amount all at once? Stupidity , panic, or Jed...take your pick.

Edited by Dxeed
words

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25 minutes ago, Apollo said:

This was not Jed. Jed does not hold his XRP Ripple does. Jed is given a small daily amount by Ripple which he does, in fact, sell each day. 

With 180 K /day he need 76 years to clear his XRP 

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16 minutes ago, Tinyaccount said:

Is he required to sell each day?  A deliberately nasty plan could be to accumulate and dump.  Is that an option for him?

I think he has limitations on how much he can sell per day too. 9 billions XRPs....

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1 hour ago, GiddyUp said:

Could just be that Bitcoin is making a run so they're getting into that?

Nope, that was me (uurrrp) sorry :lol:

No no no I did not say a beer run I meant a bitcoin run ... but if youre going to the bottle'o can you pick me up sum (beer)?

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2 hours ago, Tinyaccount said:

Crikey this crypto world is just chock-a-block full of traps for us young players...

only if you have stop-loss

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9 hours ago, JoelKatz said:

No matter how much confidence you've lost or how much you want to put your money somewhere else, can you possibly justify taking such a huge loss just to sell a few minutes faster?

It seems this account purchased a fast majority of XRP november 2016 for app.: BTC 0.00001000. Sold a huge chunk for 3x the value and still got a nice balance:

image.png.9fede608b2c79318d22b8071c0b429fe.png

Why is this a bad thing if there is a better place to (temporarily) invest your money? Maybe it flows back soon and the man made a small fortune will waiting for the next positive upcoming XRP announcements?

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