Charting the course of XRP

[mickchow]

I am freaking torn up inside....please XRP price go back up....please XRP price go down more and wait for my dry powder 

[mickchow]

4 minutes ago, Zamp said:

Ripple did not create XRP? Where did you get that from? On the founding agreement from September 17th, 2012 Jed, Chris Larsen and Arthur Britto designate that 80% of "Ripple Credits" (which is the early name for XRP) would go to "The Company" (Ripple). The same agreement states that Arthur Britto would receive 2% of the total Ripple Credits for his efforts. 

Yes, the company wasn't yet called Ripple Labs. Yes, XRP wasn't yet called XRP. But that doesn't matter. 

 

 

Difference between adopting and giving birth to a child

[Gamblord]

5 minutes ago, Zamp said:

Ripple did not create XRP? Where did you get that from? On the founding agreement from September 17th, 2012 Jed, Chris Larsen and Arthur Britto designate that 80% of "Ripple Credits" (which is the early name for XRP) would go to "The Company" (Ripple). The same agreement states that Arthur Britto would receive 2% of the total Ripple Credits for his efforts. 

Yes, the company wasn't yet called Ripple Labs. Yes, XRP wasn't yet called XRP. But that doesn't matter. 

 

 

Yeah this will definitely be argued in court. Technically Ripple Labs created XRP and gifted/sold it to Ripple. That's where the whole Ripple owns oil meme comes from. Whether a judge or jury buys this or not....

[xrpcries]

Seems we are seeing the beginning of the end of Crypto. Are we not witnessing a crack down? I mean, considering the way this is being handled. People are already mass selling their assets and most currencies are going down (not only XRPs). Wondering if you guys are still holding on to your XRPs. I have been a big fan since the very beginning and it really hurts to see where this is going. I am still holding, but I am for the first time really considering selling it all and moving on.

[DamianPawian]

5 minutes ago, NightJanitor said:

https://www.sec.gov/news/press-release/2020-340

What does it mean?

[Bill42069]

26 minutes ago, xrpcries said:

Seems we are seeing the beginning of the end of Crypto. Are we not witnessing a crack down? I mean, considering the way this is being handled. People are already mass selling their assets and most currencies are going down (not only XRPs). Wondering if you guys are still holding on to your XRPs. I have been a big fan since the very beginning and it really hurts to see where this is going. I am still holding, but I am for the first time really considering selling it all and moving on.

 

The beginning of the end?! Come on man, a few short weeks / months ago everyone believed we were EARLY to the party. Huge institutional money has been flowing into crypto the last months / year. A complaint from the SEC which may or may not materialize and all of a sudden crypto is dead?

Keenthe faith and let’s not jump to conclusions. Crypto and blockchain tech have the ability to revolutionize not only the financial industry but others as well. This is a bump in the road, one that many assumed would come. It comes at a strange time which I saw someone else say, but it’s something we just have to ride out.

if people truly invested what they were willing to lose, why would you ever liquidate over a panic selling situation? 

[Zamp]

1 minute ago, mickchow said:

Difference between adopting and giving birth to a child

Nope it isn't. The parents here are the same (Jed, Larsen etc). They just moved from one city to another (renamed company and the asset under another entity and name). Read the SEC complaint. There's a lot of detail on this.  

[xrp-nuke]

5 minutes ago, Zamp said:

Ripple did not create XRP? Where did you get that from? On the founding agreement from September 17th, 2012 Jed, Chris Larsen and Arthur Britto designate that 80% of "Ripple Credits" (which is the early name for XRP) would go to "The Company" (Ripple). The same agreement states that Arthur Britto would receive 2% of the total Ripple Credits for his efforts. 

Yes, the company wasn't yet called Ripple Labs. Yes, XRP wasn't yet called XRP. But that doesn't matter. 

 

 

It matters, because not Ripple created XRP, Ripple was given XRP.

https://xrpl.org/history.html

 

ETH creators as well premined or wtv amount of ETH, and 100% they use them the same way Ripple does. But ETH is not security, yet.

[xrpcries]

2 minutes ago, Bill42069 said:

The beginning of the end?! Come on man, a few short weeks / months ago everyone believed we were EARLY to the party. Huge institutional money has been flowing into crypto the last months / year. A complaint from the SEC which may or may not materialize and all of a sudden crypto is dead?

Keenthe faith and let’s not jump to conclusions. Crypto and blockchain tech have the ability to revolutionize not only the financial industry but others as well. This is a bump in the road, one that many assumed would come. It comes at a strange time which I saw someone else say, but it’s something we just have to ride out.

if people truly invested what they were willing to lose, why would you ever liquidate over a panic selling situation? 

Well, I have been seating tight for years, but I am more concerned that ever (specially concerning XRP - I still believe crypto has a future, just not as sure as I used to be). Seems that you are holding to your XRPs too then? How low will be too low before you decide to sell?

 

[Zamp]

2 minutes ago, Gamblord said:

Yeah this will definitely be argued in court. Technically Ripple Labs created XRP and gifted/sold it to Ripple. That's where the whole Ripple owns oil meme comes from. Whether a judge or jury buys this or not....

This will be a key point in all of this. If what the SEC says in their complaint about this is true, then its really bad for Ripple (and XRP). Again, I've been in XRP since early 2017 but decided to sell yesterday (was a top 1% account holder on the ledger). Im still very bullish on the idea of an asset like XRP, but if Ripple used XRP in the way described in the document (market manipulation, selling their own XRP's, making deals with investors with XRP marketing and selling price appreciation) then clearly they conducted XRP the way you would use a security. 

[Bill42069]

1 minute ago, xrpcries said:

Well, I have been seating tight for years, but I am more concerned that ever (specially concerning XRP - I still believe crypto has a future, just not as sure as I used to be). Seems that you are holding to your XRPs too then? How low will be too low before you decide to sell?

 

I hear ya, definitely concerning it just seems the way this was handled by the SEC just seems strange. I will repost something from another message board in a moment.

I will never sell due to XRP being too low. I will only buy more which I plan on doing maybe tomorrow. I believe this is def a set back, but I believe we will 100% be back to where we were and higher. Unless you absolutely need the money, only sell if u think XRP will NEVER reach $1 or $3 or $5. Let’s say we drop to .15. What happens in 12 months when this gets resolved one way or another and ripple and XRP move forward? Idk I just think holding is the move, unless of course you need the money

[Zamp]

2 minutes ago, xrp-nuke said:

It matters, because not Ripple created XRP, Ripple was given XRP.

https://xrpl.org/history.html

 

ETH creators as well premined or wtv amount of ETH, and 100% they use them the same way Ripple does. But ETH is not security, yet.

The courts will decide. Imagine I start company A, which creates Asset A and then I start company B (which doesn't have an asset or anything except the same ownership as company A). I (being the same person) then gift all of Asset A to Company B and Company B starts using that asset like a security but claims that we didn't create Asset A, we were gifted it... 

[Bill42069]

Here is the post from Anonymous user in other message board:

 

firstly  jay didn’t resign he was asked to leave,  there is a much larger fiat issue as you all know.  There are strange things happening at ripple but generally nothing that wasn’t transparent to sec.

my bandwidth can’t process all this to you in terms of understanding the layers,  it with adoption where it currently sits and Jay and Brad trying to formulate a deal on clarity, jay over reacted and subsequently is no longer at his post

 

globally xrp is considered a currency it’s backbone narrative can’t be misconstrued as anything but.  
 

while I maintain  here for clarity I am not making efforts to manipulate any trades or offer advice, but there is a much larger looming issue.  Escrow should come to all of you, I apologize if I didn’t read it somewhere, this is all about a failed deal over escrow some in sec wanted to make, jay didn't

clarity won’t come from domestic shore over this any time soon other then sec redacted comments and additional glimpses at clarity coming soon.

 

xrp has no requirements for ripple to be an entity for it to run and as such as I’ve just said clarity with adoption will not be coming domestically.

 

thanks

i ll keep reading but will refrain from additional comments for a while

someone once said be greedy when others are fearful and what’s the market doing right now 

merry Christmas and all the best 

[xrpcries]

2 minutes ago, Bill42069 said:

I hear ya, definitely concerning it just seems the way this was handled by the SEC just seems strange. I will repost something from another message board in a moment.

I will never sell due to XRP being too low. I will only buy more which I plan on doing maybe tomorrow. I believe this is def a set back, but I believe we will 100% be back to where we were and higher. Unless you absolutely need the money, only sell if u think XRP will NEVER reach $1 or $3 or $5. Let’s say we drop to .15. What happens in 12 months when this gets resolved one way or another and ripple and XRP move forward? Idk I just think holding is the move, unless of course you need the money

No I don't need the money, but it would be a shame to loose it all considering the amount I own. The situation is really frustrating me as, for the first time, I am having a real doubt about the future of Ripple and XRPs. Specially now that some exchanges decided to delist. If a big exchange plays that game, it would be bad, very bad!

 

[xrp-nuke]

Just now, Zamp said:

The courts will decide. Imagine I start company A, which creates Asset A and then I start company B (which doesn't have an asset or anything except the same ownership as company A). I (being the same person) then gift all of Asset A to Company B and Company B starts using that asset like a security but claims that we didn't create Asset A, we were gifted it... 

Yes their will be a process to identify and prove that XRP was created for/by company B.

But was there company A when Jed, Britto and Swartz started? Ot it was just project?

Christ Larsen started company B with Jed (as probably leader of projec/company), guys did not have Chris when were developing asset. Nothing wrong for Chris to approach Jed and say, I start company I have hands in VC/Angels, I need your team and asset, lets talk.