Jump to content
Fazzyfocus

massive money moved on XRP ledger...

Recommended Posts

Im calling an announcement on this from Ripple in the next week or so maximum, whether its explicit or implicit. 

Movement of this scale will probably require addressing the public interest in the matter to some degree at least, and Ripple would know that, particularly if it involves Jed.

Share this post


Link to post
Share on other sites
11 minutes ago, herbdizzle said:

I don't have any more insight than the rest of you but I'm really hoping it's a buyout of Jed's stake and placing them back into escrow.  This would remove a huge obstacle to institutional adoption.  Put yourself in the FI/Bank's shoes:  would you want to implement a settlement platform like XRP that is susceptible to a single individual no longer with the company?  I have a lot of trust in Ripple the company and believe whatever the parties to this transaction it's a step towards institutional rollout.  

I wish, but my personal, but unfounded, guess is that it is being moved into some kind of custody solution. There doesn't seem to be a downside, but the upside could be massive.

It seems kind of senseless to unload everything outright given that the additional assurance would probably increase the price, so I wonder if Ripple could buy him out to gain full custody over the XRP but with a contract to pay more funds to the seller as the price increases and the XRP is eventually sold? I'm not familiar with the intricacies of Codius and escrow but this sort of thing would seem possible(?) - does anyone with Codius knowledge know if that could happen?

It certainly seems like it is a move intended to satisfy potential regulatory problems though. 

Share this post


Link to post
Share on other sites
49 minutes ago, Xrpforme said:

I’ve seen a lot of discussion here regarding sales through exchanges vs OTC sales. Can someone smarter than me explain how OTC sales ultimately affect XRP price? It sounds like it’s an unrecorded sale thereby not counting toward the volume that normally moves price. Any clarity would be appreciated. 

Yes, private orderbooks and no public reports of deals made. Like the public markets, OTC markets are subject to the laws of supply and demand. Unlike an exchange, an OTC broker usually makes their money not from fees, but from the bigger spreads they are quoting. They may often act as the counterparty themselves. 

The more the OTC supply/demand get out of whack, the more it makes economic sense for their customers to buy/sell at least a part on the public exchanges, which would bring price into balance. What's more likely is that the OTC brokers themselves will buy/sell on many exchanges before/as this happens. The big OTC desks have tremendous insight into the real state of the market. For example, if a massive sell order takes out the buy side of OTC, brokers know sellers will have to move to exchanges and can use this info to front-run the market. 

Share this post


Link to post
Share on other sites

The most probable explanation is that Ripple moved Jed's stash (all of which they control) to a more secure form of storage with multisign.

Why would they buy him out, when they already control his XRP and the rate of sale is constrained to the relatively small amount as described in the link that Rootvegetable gave above? And where would they get the money for the buyout (well over a billion dollars at the current price of XRP)? By selling XRP? It doesn't make sense.

Share this post


Link to post
Share on other sites
3 hours ago, xrp_py said:

I've always wondered about the optics of Chris and Jed holding 5 billion XRP each. At some point I think Chris (and hopefully Jed) will sell or donate a large chunk of their holdings, enough so that they'll still be two of the richest people on earth but that they and their newfound insane net worths aren't the center of attention over the the real story which will be Ripple and XRP payments infrastructure dominance.

And I say all of the above ESPECIALLY if all this talk about "IMF/SDRs/BIS/World Bank/CentralBanks/NewReserveCurrency/BG123" turns out to be even somewhat true. In fact I think Chris and Jed holding 10% of all XRP would be a detriment to getting any of the above institutions on board in the ways that have been talked about. And I think Chris and Jed know this.

So MAYBE, just MAYBE, this might be Chris and/or Jed selling their stash to some very heavy hitters in preparation for MOON-time.

large size orders being  sold on polo. heres 10 million xrp being traded for 700 btc. its all the time. poor guy above him wanting to sell his 2 xrp

0710181954.jpg

Share this post


Link to post
Share on other sites
1 hour ago, xrpreston said:

 At some point I think Chris (and hopefully Jed) will sell or donate a large chunk of their holdings, enough so that they'll still be two of the richest people on earth but that they and their newfound insane net worths aren't the center of attention over the the real story which will be Ripple and XRP payments infrastructure dominance.

Ive believed for a while that members of ripple team becoming trillionaires is one of the largest impediments to anyone being comfortable with any of this. It just doesnt work. Wont sit right with anybody.

Share this post


Link to post
Share on other sites
23 minutes ago, Konan45 said:

Ive believed for a while that members of ripple team becoming trillionaires is one of the largest impediments to anyone being comfortable with any of this. It just doesnt work. Wont sit right with anybody.

So what's the acceptable number?

Bezos is worth 157 billion and before that we had Bill at 95. So is the next acceptable step 500 billion?

Edited by Harfang

Share this post


Link to post
Share on other sites
48 minutes ago, Konan45 said:

Ive believed for a while that members of ripple team becoming trillionaires is one of the largest impediments to anyone being comfortable with any of this. It just doesnt work. Wont sit right with anybody.

They're offloading their zerps and will continue to do so for the next few years. That's my theory.

Share this post


Link to post
Share on other sites
7 hours ago, AlibabaGrp said:

Where was this moved from? From Escrow? No one has this much XRP except founders or escrow. And if 6 billion was moved from Escrow just like that, then what's the purpose of Escrow and that 1 bil monthly limit?

 

7 hours ago, Fazzyfocus said:

no idea. I would love to know though. Anyone have a list of high profile known account addresses? For info behind this it would be worth comparing addresses to find out. :)

It's not escrow. As the escrows are only $1 bil each. and there is NO WAY to get them out early. (not to mention most of us have seen each escrow release, and re-escrowed [minus 100mil or so])

Share this post


Link to post
Share on other sites
7 hours ago, 2ndtimearound said:

It could be the case....some big moves are happening here. I've never ever heard of moves this big (6Bn is 13.33% of the total XRP in circulation to remind you guys here).  That's one HELL of a move.  That it's going from Jed to a multi-sig account suggests a benevolent move - a business move, and not a rogue move that might involve dumping. 

Was just gonna say, isn't that like 15% of circulating supply?

Share this post


Link to post
Share on other sites
3 hours ago, PunishmentOfLuxury said:

The most probable explanation is that Ripple moved Jed's stash (all of which they control) to a more secure form of storage with multisign.

Why would they buy him out, when they already control his XRP and the rate of sale is constrained to the relatively small amount as described in the link that Rootvegetable gave above? And where would they get the money for the buyout (well over a billion dollars at the current price of XRP)? By selling XRP? It doesn't make sense.

I agree that this is the most plausible explanation. I don't think we'll see any announcement from Ripple regarding this.

Share this post


Link to post
Share on other sites
3 hours ago, PunishmentOfLuxury said:

The most probable explanation is that Ripple moved Jed's stash (all of which they control) to a more secure form of storage with multisign.

Why would they buy him out, when they already control his XRP and the rate of sale is constrained to the relatively small amount as described in the link that Rootvegetable gave above? And where would they get the money for the buyout (well over a billion dollars at the current price of XRP)? By selling XRP? It doesn't make sense.

When I put on my tfh, it could make sense to me.  If any of the scenarios involving IMF, M2 etc are true, they’ll need as many zerps as possible.  Jed’s stash would be needed under these scenario’s.  He’d have to be bought out otc

Share this post


Link to post
Share on other sites
6 hours ago, Amigo said:

My guess is this is related (for example an institutional investor insisting on eliminating certain risk factors like Jed or even Chris, in return getting a deal with additional rules (for example escrowed) as well).

second that

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...