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A dead project also dumping XRP......"clever coin"

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Posted (edited)
2 hours ago, AlvaroXRP said:

Brad and other employees have critized many times ICOs and yet they are running the longest ICOs by selling XRP to raise funds. They must show transparency in xrp holdings and sells. How, When and To they are sellings just as any public company have to

they are a private company

Edited by Julian_Williams

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In the beginning stages of a company project, you inevitably take decisions that later on turn out to be wrong or financially not interesting. Companies issue stocks or options at prices that later on turn out to be ridiculously low, yet those steps were necessary to raise funds when you have a risky business plan.

While I think it is important for us to know what is happening and understand why it happens, as it directly influences our investments and our trust in Ripple, we are not in a position to judge. It can be very tempting for some to think you know it all better, but you don't. You don't know it better, you would not have done it better and above all, you are not and you have not been in a position to decide. If you still think you know it better, apply for a job at Ripple and help them become an even better company.

Let's use this information to better understand the market movements and downwards pressure on prices, but shouting things from the sidelines does not bring anything.

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11 minutes ago, mrenne said:

While I think it is important for us to know what is happening and understand why it happens, as it directly influences our investments and our trust in Ripple, we are not in a position to judge. It can be very tempting for some to think you know it all better, but you don't. You don't know it better, you would not have done it better and above all, you are not and you have not been in a position to decide. If you still think you know it better, apply for a job at Ripple and help them become an even better company.

Love it! So true.

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I question if it was a mistake.  Selling a billion XRP all those years ago may have provided critical funds for the survival and development of Ripple at that time.  They were selling to all sorts of people, including investors who come on this forum.  Ripple were setting up a new company and needed funding, Clover were setting up a company that would use XRP.  The sale was an obvious opportunity for Ripple on that date in that situation.

Nothing much has changed.  If you were setting up a project today that needed 1 billion XRP you could go to Ripple and buy 1 billion at a rate of about .32 (maybe the delivery would be spread over a few months).

When Bitcoin was starting you could amass hundreds or thousands of their coins for a few dollars.  There are whales in every coin. (97% of Bitcoin is owned by 4% of Bitcoin community - from memory). Investors on this forum buy big numbers of casino coins at very low rates in the expectation that they will one day be casino coin whales.  Should Casino Coin limit the number of coins one investor can buy?  Could they stop people buying a billion Casino Coins on the market?  Would they be right to stop people buying Casino Coins?

Developing a company from scratch is a rough ride. If you invest in a start up you have to accept there will be bumps and bends in the road and a risk of failure at any moment.  High risk high return, only invest what you can afford to lose.  Investing does not give you a right to be a back seat driver.

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Posted (edited)
1 hour ago, Julian_Williams said:

I question if it was a mistake.  Selling a billion XRP all those years ago may have provided critical funds for the survival and development of Ripple at that time.  They were selling to all sorts of people, including investors who come on this forum.  Ripple were setting up a new company and needed funding, Clover were setting up a company that would use XRP.  The sale was an obvious opportunity for Ripple on that date in that situation.

Nothing much has changed.  If you were setting up a project today that needed 1 billion XRP you could go to Ripple and buy 1 billion at a rate of about .32 (maybe the delivery would be spread over a few months).

When Bitcoin was starting you could amass hundreds or thousands of their coins for a few dollars.  There are whales in every coin. (97% of Bitcoin is owned by 4% of Bitcoin community - from memory). Investors on this forum buy big numbers of casino coins at very low rates in the expectation that they will one day be casino coin whales.  Should Casino Coin limit the number of coins one investor can buy?  Could they stop people buying a billion Casino Coins on the market?  Would they be right to stop people buying Casino Coins?

Developing a company from scratch is a rough ride. If you invest in a start up you have to accept there will be bumps and bends in the road and a risk of failure at any moment.  High risk high return, only invest what you can afford to lose.  Investing does not give you a right to be a back seat driver.

I agree with you on your point of view but the contract between  them should be done in a better way, for example you do 20% of the job you get paid in 20% of the XRP, do the rest and then get paid in full.

Should I remind you that they also made mistake with R3 contract and even the outcome there is a one big unknown for all of us.

Edited by BAX

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47 minutes ago, hallwaymonitor said:

In conclusion, there are still at least 877M (184+125+284+284) XRP ready to be sold. If these 877M XRP will be sold on the open market then it would affect negatively for the XRP price. As the historical transfers of the above accounts suggests we can assume that most of those 877M XRP will eventually end up one of the known exchange accounts.

I am not going to deny the likelihood of that  assessment. However, we had something similar in 2018 as you will probably remember (also an entity selling in excess of 1 billion XRP) and we survived too. Did it help though? I think not. 

It will just take time. Also: we do not know how this entity plans to liquidate the remaining funds. I would guess in the same pace, but maybe the pace will be slower (or faster) in the future. It is wait and see. 

Anyways: assuming that the amount of XRP left will be liquidated in the same pace, I expect this to be over around the end of Q1 2020. However, this entity becomes less important the further it shrinks too.

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also when you start to count wallets, take care to not count all accounts in the ledgers lol, because one wallet link to other that is linked to the other.. For instance what is the role of Triple Dice wallets and subwallets, it's sending but also receiving from exchanges, I also think your conclusion is not correct 

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Posted (edited)
1 minute ago, denverks said:

also when you start to count wallets, take care to not count all accounts in the ledgers lol, because one wallet link to other that is linked to the other.. For instance what is the role of Triple Dice wallets and subwallets, it's sending but also receiving from exchanges, I also think your conclusion is not correct 

For what it is worth, the number checks out. Annoying, but I think I cannot expand on it. Ballpark 800 million is about right. 

Edited by Parabellum

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1 hour ago, Julian_Williams said:

they are a private company

So you are saying they don't need transparency? Why are they claiming they are then (even though it is not true)? 

Running an ICO like Ripple is doing will be considered as going public in an IPO, just give it time and see. 

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Posted (edited)
11 minutes ago, Parabellum said:

For what it is worth, the number checks out. Annoying, but I think I cannot expand on it. Ballpark 800 million is about right. 

I'm bored to do an extensive search now, but for example take last but one wallet he posted:

https://bithomp.com/explorer/rMjjMBDVwWdRsbC4QaU98MXQgSGFVv2G1c

that wallet received 999 985.00 XRP from

https://bithomp.com/explorer/rJVewGyhY8UCu2AMWruV8Uc93BQLbNCyLW

activated by bitgo, that itself is funded by others receiving XRP from other exchanges (and not only sending)

You're  starting to count cabbages and carrots.

Edited by denverks

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Counting and analyzing all these wallets and txs is a complex issue as we do not know all nuances.

What we seem to forget is demand. Is it right to say that the demand for XRP is not that high (and is not growing) hence Ripple's (or its shareholders) XRP sales suppress the XRP price?

And the XRP demand is not growing due to progress of XRP implementation is being slower than needed. Plus regulatory concerns that haven't been resolved yet.

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1 hour ago, Parabellum said:

However, we had something similar in 2018 as you will probably remember (also an entity selling in excess of 1 billion XRP) and we survived too. Did it help though? I think not. 

It will just take time. Also: we do not know how this entity plans to liquidate the remaining funds. I would guess in the same pace, but maybe the pace will be slower (or faster) in the future. It is wait and see. 

Anyways: assuming that the amount of XRP left will be liquidated in the same pace, I expect this to be over around the end of Q1 2020. However, this entity becomes less important the further it shrinks too.

Yeah I remember the Bearwhale. The general consensus seems to be that It sold 1B XRP on open market between January and November 2018. Thus, it took 11 months to offload 1B XRP to the ecosystem. During those 11 months XRP price was in bear trend. After the Bearwhale was done selling in December 2018 did the price then insta moon? No. IMO there were other sellers on open market satisfying the demand which resulted to stable XRP price.

If I remember correctly there might still be an entity selling small amounts of XRP regularly in one of the exchanges because Ripple donated XRPs to the Ellen Degeneres wild life fund last year. This is not a big player but it reminds us that there are multiple entities selling XRPs on open markets and hence creating constant selling pressure. However, you gotta get XRPs from Ripple to the ecosystem somehow. Another option would be the coin burn but I find it to happen (at least in large scale) very unlikely.

 

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1 hour ago, denverks said:

You're  starting to count cabbages and carrots.

Apples and oranges. Those 877M (184+125+284+284) are still sitting in their accounts. We don't know what will happen to them? On the other hand the XRPs that were sent to exchanges usually go to the "cabbages and carrots" sector because it is very hard to know were they sold or forwarded to the other accounts in smaller increments.

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