WSJ: Ripple Co-Founder’s Token Selloff Accelerates

[princesultan 763]

meh, this article tells us nothing we don't already know. moving along...

[Montoya 866]

For what it's worth, I would take the article with a grain of salt. It doesn't appear to be very well researched. (eg- Ripple Labs Inc.) Likely just another lazy article by a novice who is convinced they understand the space after a couple days of reading crypto-blogs.

[Guest]

AFAIK, Ripple Labs actually manages Jed's XRP accounts. So he can not unilaterally do anything, correct me if I am wrong but that was part of the agreement they had in 2016. I don't know if there was a part of his XRP stack that wasn't involved in this agreement but Jed's XRP is strictly tied to the agreed limits.

[Pablo 4,803]

Everyone should read the settlement summary on the old Ripple forum to understand what the terms are (it was the initial part of my DYOR that I did way back when, because the old forum had very active participation from Ripple staff):

https://forum.ripple.com/viewtopic.php?f=1&t=15885

 

[MsKat141 26]

How much XRP does Jed have left? Anyone know?

[Theone01 251]

Such a bad article.  The title is contradicted by the text. He cant accelerate it.... Only market volume can.

[Yodaxrp 1,286]

8 minutes ago, Theone01 said:

Such a bad article.  The title is contradicted by the text. He cant accelerate it.... Only market volume can.

Or Ripple himself, for whatever reason we do not know!

[hallwaymonitor 1,969]

Another FUD article as far as I'm concerned. However, this is a good reminder that it will take probably several years before mainstream media will evolve from F.U.D. to factual reporting. A cynic might even think F.U.D. will give them better ratings (?) 

"A representative for San Francisco-based Ripple declined to comment."

Why Ripple declined to comment or is this article lying about that? Ripple should hire public relations personnel whose only job is to answer with facts to the same questions over and over again every single week day that people and media keep constantly asking.

Q: Did Ripple create XRP? A: No. XRP was donated to Ripple by the developers. Here is the document. REPEAT, REPEAT, JADA, JADA...

Q: Will Jed McCaleb dump his XRPs? A: No. He is legally binded to sell only small portion of his XRP holdings daily. Here is the dosucment. REPEAT 1000X, JADA, JADA...

And the next "know it all" reporter calls and asks again the same questions...

[Amigo 1,562]

1 hour ago, Alluvial said:

For those who are interested, Jed sells his xrp (the daily amount that he is allotted per the agreement he entered into with Ripple) on Bitstamp for USD, and he does it everyday at 4:00 pm EST.  You can see it here.  I don't follow the daily sells, but if you go to the link below you can see it.  He has been doing this virtually everyday since the agreement was entered into a few years ago. 

I think he does a market sell order, and people know he is selling there, and so they are there to pick up the xrp, and sometimes at a discount (the discount was pretty big for a while, and I thought of putting in some below market bids on Bitstamp but eventually other people saw the discount and now it no longer exists). 

Generally, the amount he is allotted changes each week (per the agreement) based on the volume on the xrp ledger from the week before.  His daily sell amount is higher than it was the last time I checked (it's around 600k per day, and last time I checked, around 6 months ago, it was around 100-200k).

 https://xrpcharts.ripple.com/#/markets/XRP/USD:rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B?interval=30m&range=1d&type=line

 

 

Exactly. It's part of reality (and has been for years now) and it's under control and mega predictive which is what financial markets like. It is also the reason why Ripple has put their xrp holdings in the escrows.

Satoshi's billions are not escrowed. Imagine BTC markets plummet if those wallets start to become active. 

Would be interesting (for example for the debunked website) to do a fair comparisson on that. 

For now it are the last straws FUDsters can grasp as they know XRP's specs,  Ripple's usecase and ILP's reach are beyond all others.. all.

Edited September 24, 2018 by Amigo

[Guest]

The exchange I use in Korea has 500k on both sides of the order book every 5-10 basis points. It gets bought up pretty much daily even over the last few months. That's not much on a Korean exchange. Probably true for most Asian exchanges. 

I'm not going to try to understand Jed's logic but good luck to him. 

Edited September 24, 2018 by Guest

[jag216 1,719]

13 minutes ago, Amigo said:

Satoshi's billions are not escrowed. Imagine BTC markets plummet if those wallets start to become active. 

Was reading about those 980k Bitcoin. Interesting how some believe he's dead, and everyone seems to believe those BTC will never be touched.

Would be a helluva ride if they woke up and started moving.

[Alluvial 1,128]

8 minutes ago, LordVetinari said:

The exchange I use in Korea has 500k on both sides of the order book every 5-10 basis points. It gets bought up pretty much daily even over the last few months. That's not much on a Korean exchange. Probably true for most Asian exchanges. 

I'm not going to try to understand Jed's logic but good luck to him. 

I believe Jed is probably required to sell his xrp on the xrpledger as opposed to an exchange.  He has been with Bitstamp from the very beginning, and when you are raking in that much cash per day he probably doesn't care, and that is why he probably dumps the whole amount as soon as the daily amount is given to him (all bots I'm sure).  And he is getting the market value now as there are buyers there everyday waiting for his daily sell.   

[Guest]

1 minute ago, Alluvial said:

I believe Jed is probably required to sell his xrp on the xrpledger as opposed to an exchange.  He has been with Bitstamp from the very beginning, and when you are raking in that much cash per day he probably doesn't care, and that is why he probably dumps the whole amount as soon as the daily amount is given to him (all bots I'm sure).  And he is getting the market value now as there are buyers there everyday waiting for his daily sell.   

Just to be clear. I'm not saying he's using a Korean exchange. I'm pointing out whatever he's selling daily is not going to flood the markets.

[fiik 1,321]

but once its gone its gone

 

[Alluvial 1,128]

6 minutes ago, LordVetinari said:

Just to be clear. I'm not saying he's using a Korean exchange. I'm pointing out whatever he's selling daily is not going to flood the markets.

Ah, I thought the two parts of your post were related, but I see that they are not.  Yes, I agree with your point that his daily sales will have no real impact on the price (which has been the case since the  agreement was put in place).