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kryptoroi

This is slowing down XRP's adoption.

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I've been thinking about this for some time now. It seems that many individuals who hate XRP do so because of how much XRP is being held by Ripple's executives and also the escrow (despite only releasing a set amount at a time). Institutions are also reluctant about investing in an asset where a large portion is being held by a select few. Not necessarily for dumping purposes because i honestly don't believe that would happen but because of how much power and control it gives ripple. This same sentiment was also being echoed  at the recent  house financial services hearing, where congressmen and women were talking about downsizing the large banks in the USA because they have gotten too big and powerful. This is the same reason why there's a discussion about how powerful and big amazon has gotten and trying to control its growth. This is also the same reason why mergers like Comcast and time Warner was frowned down upon and i quote, because "Putting this much power in the hands of one company is dangerous". No one likes when ONE company has too much power, especially when it comes to a new player (Ripple) entering a marker full of bankers and FIs who are stuck in their old ways.

That being said, I personally think the executives at Ripple should decrease their XRP holdings. Chris Larsen for example has about 5B XRP and a 17% percentage stakes in the company itself. By focusing only on his XRP holdings, his networth will be if 50B, 100B, 250B and 500B if XRP reaches $10, $20,$50, $100 respectively. And again, that does not include his 17% stake in Ripple. Let's be honest, there are a lot of people out there who DO NOT want him to amass that amount of wealth. Also, Why not allow the ecosystem itself decide how to use XRP? If the digital asset is that great, then people will obviously find use for it. I know Ripple makes a lot of money from XRP sales and They can control how and what to invest the xrp sales profits into. But i think that's an issue that should be looked into because it is hindering adoption.

Please lmk what you think

 

 

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To be honest, not much.

How do they go about increasing distribution? 
They are unlocking 1B a month and anything unsold is returned to escrow.  We are seeing amounts returned, so they are clearly satisfying demand each month.
And I see adoption picking up great speed, you sure you're seeing everything going on out there?

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8 minutes ago, ZIGXRP said:

To be honest, not much.

How do they go about increasing distribution? 
They are unlocking 1B a month and anything unsold is returned to escrow.  We are seeing amounts returned, so they are clearly satisfying demand each month.
And I see adoption picking up great speed, you sure you're seeing everything going on out there?

Distribution will take care of itself  when everyone is more trusting of the ecosystem and start developing ideas using XRP based on trust. A lot of people do not want to get near it because of their lack of education and misunderstanding about XRP being centralized. Although it is not the case, many people are being misled to believe so.  One great way to facilitate adoption and trust would be to relinquish some of that power, resulting in more people coming in. And yes adoption is already being made but, my personal opinion in that it would happen a lot faster is the above mentioned points were met.

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4 minutes ago, IAmATroll said:

So with this logic, for BTC to gain adoption, Satoshi has to unload his bags as well?

 

No one even known if Satoshi is still alive and besides, it's totally different. Bitcoin doesn't have a designated purpose other than store of value. XRP specifically  targets banks and FIs who are private in nature and like to have control. So the fact that in this model, the control is being taken away from them does not entice them to adopt as fast as they would.

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Posted (edited)
17 minutes ago, kryptoroi said:

No one even known if Satoshi is still alive and besides, it's totally different. Bitcoin doesn't have a designated purpose other than store of value. XRP specifically  targets banks and FIs who are private in nature and like to have control. So the fact that in this model, the control is being taken away from them does not entice them to adopt as fast as they would.

So which Banks or Bank would you rather see control things??? Surely JPM wouldn't deal with a DA controlled by BOA and vice versa.  There has to be a neutral party in this at the control helm else your going to have falsely inflated prices and the main purpose of this smaller banks and financial institutions totally left in the void when it comes to using XRP. to decrease cost  I'm sure the big guys will give them access for a small fee(Yeah right!!) but isn't that defeating the purpose??? I have to disagree, I think ripple is going about things the right way to make this work for more than just Big Banks.  Yes XRP is called the bankers coin but it is working to decentralize banking inner workings when it comes to the lucrative realm of cross border payments and who can tap into that arena.  What if Ripple decided to dump all the XRP on the market who do you think would snap all that up in a matter of days???

 

Edited by RikkiTikki

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4 minutes ago, RikkiTikki said:

So which Banks or Bank would you rather see control things??? Surely JPM wouldn't deal with a DA controlled by BOA and vice versa.  There has to be a neutral party in this at the control helm else your going to have falsely inflated prices and the main purpose of this smaller banks and financial institutions totally left in the void when it comes to using XRP.  I'm sure the big guys will give them access for a small fee(Yeah right!!) but isn't that defeating the purpose???

The ideal thing to do is for NO ONE  to have control. The XRP should be out there for everyone and the organic way would be for you, me banks, FIs to use it as we please without having any party controlling sales or distributions. How do we ensure that let's say BAO doesn't buy up all the XRP and take it off the market or control it? i haven't solved that yet :)

but my other issue is actually the amount of XRP some executives personally hold. You don't think there's a little greed as to how much they have? 5B is a lot.

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Posted (edited)
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17 minutes ago, kryptoroi said:

The ideal thing to do is for NO ONE  to have control. The XRP should be out there for everyone and the organic way would be for you, me banks, FIs to use it as we please without having any party controlling sales or distributions. How do we ensure that let's say BAO doesn't buy up all the XRP and take it off the market or control it? i haven't solved that yet :)

but my other issue is actually the amount of XRP some executives personally hold. You don't think there's a little greed as to how much they have? 5B is a lot.

If you had the opportunity that Jed and others had how much would you hold??? When Microsoft first started some of the early employees were paid in stock.  Some of those early employees made a fortune when the company went public. New stock holders weren't like "Damn that Bill Gates!!!" those guys should not have received any stock.. If XRP becomes what it is set out to become the exec's stash will be meaningless just a drop in the bucket.  We see this everyday exec's with huge stock bonuses, golden parachutes and fat salaries and their companies and execs don't do half the things Ripple does when it comes to giving back, etc, providing others the means to build wealth and growth. Didn't Larsen  just drop 25 Mill worth of XRP to his  alma-mater ?  Tell me what Bitcoin or Etherum whale is parting ways with his or her stash in this manner? Yes of course there maybe a little greed factor but one thing I do know Bank exec's are much greedier and 10 times darker!!  There will always be someone in control as I mentioned without some control if all the XRP was out on the market who do you think would buy and hold the Lions Share dictating to the smaller entities who can use it and how much it will cost to use it???

 

 

 

 

Edited by RikkiTikki

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50 minutes ago, kryptoroi said:

The ideal thing to do is for NO ONE  to have control. The XRP should be out there for everyone and the organic way would be for you, me banks, FIs to use it as we please without having any party controlling sales or distributions. How do we ensure that let's say BAO doesn't buy up all the XRP and take it off the market or control it? i haven't solved that yet :)

but my other issue is actually the amount of XRP some executives personally hold. You don't think there's a little greed as to how much they have? 5B is a lot.

But having all of it in escrow ensures nobody can buy it all.  And you havent provided any solution to distribution, you're just raising a concern with Ripple having alot.

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6 minutes ago, ZIGXRP said:

But having all of it in escrow ensures nobody can buy it all.  And you havent provided any solution to distribution, you're just raising a concern with Ripple having alot.

Having all of it in escrow does not ensure that nobody buys it all, it simply reassures people about the reduced risk of a dump. Theoretically JPM chase can still buy up  a billion xrp a month over time before controlling it all. The only difference is that it'll take them 4years instead of a few days. You're right i don't have a solution but that doesn't mean an issue shouldn't be brought up.

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13 minutes ago, kryptoroi said:

Having all of it in escrow does not ensure that nobody buys it all, it simply reassures people about the reduced risk of a dump. Theoretically JPM chase can still buy up  a billion xrp a month over time before controlling it all. The only difference is that it'll take them 4years instead of a few days. You're right i don't have a solution but that doesn't mean an issue shouldn't be brought up.

Are you sure that is the biggest issue? Yes it may be an issue, but not the main one in the long term -if you believe that XRP adoption and Ripple are on the right road, then you should not be in doubt.

What about regulation - is that not stifling growth in the West more significantly than anything?

The banks and FI's in the West are massively invested in expensive legacy systems which they will want to drag out for as long as possible to recoup their money, plus they have the most profit to lose from adoption of new, disruptive technology, so they cannot bring themselves to embrace it. Do you think that the banks in the MENA and the Far East are concerned about who owns how much XRP - they see an opportunity to leapfrog the existing hierarchy, make a name for themselves and use all the new technology at their disposal to make money.

Forget XRP in escrow with Ripple, look ahead a few years when not only cross border payments begin to mature, but also smart contracts, micropayments and markets we have yet to imagine. This becalmed market seems to be bringing out a madness that was to be seen on old sailing ships before the advent of steam power.  Either wake up and believe in your investment or sell and sleep peacefully - if you can, but please do not look for scapegoats within Ripple.

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11 minutes ago, Archbob said:

Or just stop dreaming of $100 XRP and accept that it may "only" eventually be $10.

Won’t even be that at this rate 😂

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3 hours ago, kryptoroi said:

I've been thinking about this for some time now. It seems that many individuals who hate XRP do so because of how much XRP is being held by Ripple's executives and also the escrow (despite only releasing a set amount at a time). Institutions are also reluctant about investing in an asset where a large portion is being held by a select few. Not necessarily for dumping purposes because i honestly don't believe that would happen but because of how much power and control it gives ripple. This same sentiment was also being echoed  at the recent  house financial services hearing, where congressmen and women were talking about downsizing the large banks in the USA because they have gotten too big and powerful. This is the same reason why there's a discussion about how powerful and big amazon has gotten and trying to control its growth. This is also the same reason why mergers like Comcast and time Warner was frowned down upon and i quote, because "Putting this much power in the hands of one company is dangerous". No one likes when ONE company has too much power, especially when it comes to a new player (Ripple) entering a marker full of bankers and FIs who are stuck in their old ways.

That being said, I personally think the executives at Ripple should decrease their XRP holdings. Chris Larsen for example has about 5B XRP and a 17% percentage stakes in the company itself. By focusing only on his XRP holdings, his networth will be if 50B, 100B, 250B and 500B if XRP reaches $10, $20,$50, $100 respectively. And again, that does not include his 17% stake in Ripple. Let's be honest, there are a lot of people out there who DO NOT want him to amass that amount of wealth. Also, Why not allow the ecosystem itself decide how to use XRP? If the digital asset is that great, then people will obviously find use for it. I know Ripple makes a lot of money from XRP sales and They can control how and what to invest the xrp sales profits into. But i think that's an issue that should be looked into because it is hindering adoption.

Please lmk what you think

 

 

There is enough xrp in circulation now to do what it has to do. Escrow is also doing its job limiting release. The only problem is the emotional one of the public being envious of xrp holders. The politics of envy. Ripple’s stash is owned by over a thousand shareholders. Ripple should slowly give their shareholders ownership of that stash.

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