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WSJ: Ripple Co-Founder’s Token Selloff Accelerates

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So most of jed's XRPs are in this address. They were transferred to it 28th of august this year. It is a heavily protected multisignature account. The account has been activated 1st of december 2017. Have they been sold OTC or still Jed's? Anyone want to start connecting the dots? Potential connection with R3 and ripple settlement for instance? Or something else?

The rest of his XRPs, I believe, are held by this and this account. Those two accounts don't interest me as much as the first one I mentioned.

EDIT: Why I think the first account might have something to do with Jed's XRPs being sold is the fact that multisign has been enabled since 27th of june 2016. Why would ripple create a multisignature account now for Jed's XRPs rather than in 2016?

Edited by Guest
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20 minutes ago, scoobysi said:

I say again does anyone know how much is left?

i swear someone did post a spreadsheet tracker once, but i can't find the link

edit: ah, looks like i posted late, links above and prevous

Edited by zerpdigger

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Looking through the above accounts, you can see that Jed has sent just about over 500 mil XRP to exchanges so far.

Interested indeed in the large account and whether the movement of funds had any business deal or new arrangement against it or was simply for security purposes. I assume it's the latter based on confirmations from XRP employees about similar movements in the past. I think we'll see the answer to this when Jed depletes the other accounts which currently hold about 250 mil XRP total. If nothing happens to the 4.6 billion account after these are sold, it would proove that some kind of deal took place around these assets.

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As all members of XRPchat find Jed McCaleb a crytospace version of Lord Voldemort I would like to suggest renaming him in  " You-Know-Who" or "He-Who-Must-Not-Be- Named".

Simply because everyone here feels uncontrollable :bad:  when his name finds its way into our daily discussions and shared news items.

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Well this is one FUD that gets me.

It's really unfortunate that XRP is at the mercy of Jed. He denies selling more than he's supposed to, but at least according to this article, he's upped to over 500,000 XRP every day.
https://www.wsj.com/articles/ripple-co-founders-token-selloff-accelerates-1537788600

 

With that said, even if i sell 1,000,000 XRP in a day, will that REALLY move the price much these days? Is the volume so low that Jed's sales are truly holding price down much?
 

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These 4 accounts were supposedly connected with Jeds funds, but we have no way of verifying this.

r4LxkCUXYTCUgwquN3BnsUxFacoVLjGFyF

rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv

rLkMJhSVwhmummLjJPVrwQRZZYiYQhVQ1A

r9kkWNia8PmpR44L7mWZn33Hpff3CCzLjA

 

 

Edited by mandelbaum

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5 hours ago, JA8 said:

The article suggests he's selling more per day than he is permitted in the agreement with Ripple. Is this correct? 

I can't stop thinking about Mt. Gox every time Jed McCaleb is mentioned.

Edited by Quinson
I wrote "Jeb", I correct "Jed"

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It's pretty hard to tell if he's selling more than he's allowed to. As far as I can tell Ripple gets to determine how much he can sell by determining what constitutes legitimate trade volume on or off the XRPL. For example if there was wash trading by one person between XRP and some non legitimate IOU, I would imagine Ripple could exclude it. Also, depending on exactly which of Jed's accounts is under Ripple's control, Jed may not even be able to sell more than Ripple allows, but we can't know for sure who controls which account.

Quote

*Under the settlement agreement, Average Daily Trading Volume is calculated by dividing the Weekly XRP Trade Volume for the week that commenced two weeks prior to the week at issue by seven (7). Weekly XRP Trade Volume is defined as the total amount of XRP traded on the Ripple consensus ledger during a given week between Sunday midnight Pacific Time through the following Sunday midnight Pacific Time. Significantly, this definition excludes XRP traded on third party exchanges, unless in Ripple's reasonable judgment, the XRP market has changed so that the majority of legitimate XRP transactions have occurred off the Ripple consensus ledger during the prior 365 days.

 

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Guest

@JA8, I wonder if the amounts are adjusted depending on volume and price limit caps etc. 

What you're saying is correct, but team Ripple would / should have thought about this scenario and built that into the agreement. 

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Just turn on xRapid and use Jed's XRP to make the USD to XRP market.  Less slippage and increased liquidity on that one leg.  Be done with this guy once and for all.  Easy enough right?  

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22 minutes ago, JA8 said:

This is actually a problem, because as far as I'm aware, the terms of the agreement with Ripple specify his selling limits in XRP, not in USD or any other fiat-currency equivalent.

According to the main wallet address, he has 4.6bn XRP remaining

At the selling rate of 500,000 XRP per day, which is more than the permitted amount, it will still take him 25 years to sell the last of his XRP.

At current prices, this isn't such an issue. However in the future... potentially in the near future... 500,000 XRP per day will eat up 100% of the order book and then some.

To explain - imagine Satoshi had been told back in 2009 that he was only permitted to sell 10,000 of his BTC per day. At the time this would have been worth say $1000 or less. Today it's worth $66 million. Imagine selling $66m worth of BTC every single day on the open market. Even on the biggest exchanges, the order book is absolutely tiny compared to this amount.

So, logic suggests that Jed will be able to completely crush the XRP price to zero every single day, and for as long as he wants to, just by selling a tiny fraction of the amount that he's actually permitted to sell.

I think this agreement with Jed needs to be revisited. 


 

I could be completely wrong here but, surely volume and value of XRP will move up in tandem. If there is only 500,000 XRP per day on the order book then XRP won't be worth much at all, a daily demand of just 500,000 XRP out of a potential pool of 100 billion XRP would probably mean XRP has failed.

Edited by SaladFingers
typo

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