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Ripple- Stop the dumping

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14 hours ago, Kiwi said:

Stopped reading after second sentence. Your post is literally waste of bandwidth.  Even processing bitcoin transaction is more useful than this crap.

You should be ashamed.

Are you still buying the dips??? 🤔🤔😐

Didn’t think so.

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I hold some XRP and have been wading through the various online forums that are focused on Ripple and XRP over the past few days. Needless to say, the current price chart looks dismal and I am feeling that I am approaching decision time on whether it makes sense to remain invested in XRP or cut my losses and call it a day for now. Overall, I am inclined to believe that the former is probably the better choice, for the following reasons:

1) Ripple has spent many years trying to get things up and running in earnest (according to Wikipedia XRP was created in 2012). They are associated with various big names in the financial industry and have made numerous promising announcements, but the real breakthrough has not yet happened, it seems, which is even admitted by Ripple and XRP enthusiasts. The "story" is getting a bit old, but the good times (stock markets, economy) are almost over. If seven years during one of the longest bull markets in the post-war history could not get Ripple's revolutionary concept up and running, (and no, "partnerships", tests and a few isolated examples do not count IMHO) I don't know what can.

2) Ripple and its top executives, particularly its CEO own a disproportionally large amount of XRP. There are regularly scheduled sales of XRP from the company's holdings which has a negative impact on the price. Demand on the other hand seems to be lacklustre at the moment.

3) XRP has been the worst performing of the top 10 cryptos in recent months. The fact that the price of BTC recovered has failed to pull the price of XRP upward.

4) There are solid investment alternatives which appear to be a safer bet while potentially also quite profitable, and above all, which have much greater name recognition: Precious metals and Bitcoin. The likelihood that Ripple and XRP brands will become more widely known than these assets in the next couple of years is very low, IMHO.

5) Ripple is currently hiring dozens of new employees and seems to have plenty of money to spend. While this seems to inspire confidence, what I don't like is that they are continuing to get rid of their XRP, be it through regularly scheduled sales or XRP donations to some fancy start-up network with great prospects sometime in a nebulous future. Ripple needs regulators around the world to show a benign stance, and from what I dimly understand, progress on that front may slower than expected. It requires banks and financial institutions to buy and effectively use XRP,  Xcurerent, or Xrapid and/or what other products they may have in order for XRP adoption and use to increase. While some progress has been made in the past, solid data on hard metrics seem to be notoriously difficult to get by (and no, 200 vague "partnerships" with various banks and other companies does not count as such, IMHO). It does not feel as though SWIFT is in danger of being dethroned by Ripple/XRP anytime soon, and to be frank, I am not at all confident the long awaited breakthrough will happen during a severe recession, which I expect is almost certain to occur.

6) Many observers of the crypto space are hoping that we may see a repeat of what happened in late 2017, when many altcoins "achieved" even more spectacular gains than Bitcoin. As a matter of fact, Bitcoin is roughly 50 percent below its all-time high, whereas most of those altcoins price charts, especially the smaller ones, continue to resemble that of penny stocks, with one huge peak in the past and a long, drawn-out decline that stretches into the present. Ripple has been around for a longer time than most altcoins and is one of the top three cryptos in terms of market cap. However, this does not protect the venture from failure. If anything, recent developments in the crypto market seem to underscore the message that if there is any safe haven in this space, it is probably Bitcoin IMHO.

7) If the price of Ripple were to increase 10, 20 or 30 fold, there should in theory be time to jump back onboard again, especially for those who keep a close eye on the market as a whole. Spectacular though past price hikes were, each of them occurred over a period of several weeks. From my perspective (no job, regular income about to end rather soon), it makes sense to play it safe and consider reentering at a later stage if price action warrants such a move.

I am not a specialist in investment, finance or IT. Nevertheless, I think it is possible for critical laypeople to draw some solid conclusions with the help of the information that is available online. Overall, there are too many red flags for me to remain positive, and the cold, hard reality is that the price chart seems to support such concerns. I believe that the best XRP holders can hope for is that Bitcoin's rising tide will eventually spark another altcoin boom which will lift their ship, too. This should hopefully give many of them a chance to break even and jump ship before a reality check is finally due for this project. Hence, for me it is either hold and hope for the best - with the realistic/cynical expectation that this will likely go nowhere in the mid- to longer term - or sell.

 (1: Sorry for any typos. 2: English is not my mother tongue.)

Edited by Bystander

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There has been good feedback provided so far on both sides, which is good example why this is a real concern for Ripple and the XRP community to address. There has also been unconstructive feedback, which I am requesting please try to provide honest and constructive feedback on responses.

For example "Bystander" has provided constructive points, that are being re-iterated throughout the community.  This is great feedback, that will have real impacts if the community as a whole continues to share these concerns.

Some of the XRP chat members on this site need to remember that the posters on this site only make up a small percentage of the XRP community. As expected, regular members on this site are more loyal and optimistic than the rest of the XRP community that are not actively involved on this site.  Everyone has their own right for personal trust and buy-in.

The reality is, Ripple and XRP success is dependent on trust and buy-in from XRP stakeholders beyond the members on this site. Majority of the institutions, government, Ripple employees, retail investors, media, external forums, etc. will never provide feedback on this site. XRP holders on this site are dependent on these external groups in the long term. If you have evidence to believe these external groups are losing trust and buy-in, then this becomes a real concern for you and the rest of the community.

 

Edited by wogojump

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16 hours ago, Xill said:

FK THEM! no regulations fking free scam market. they can do what ever the fk they want! this is better than money heist (on netflix) this is fkin real

 

if lets say in 10 years xrp will go nowhere i hope they will be jailed for a lifetime for all the families and people they have destroyed. crypto is a **** show. one big hype market lmao

Well, technically their location is known. One could always go down there and [EDIT: removed for a PG audience], then call it "free-market regulation". Just make sure the shooter is Libertarian  :dash1:

 

Edited by Wandering_Dog

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15 hours ago, mrhat75 said:

I'm not debating OP.  I don't have that expertise. OP is debating a company that has done enough to pull interest from hundreds of 'real players' throughout the world and appears to be attacking a multi trillion dollar problem in good faith and has continually gained traction in their effort as they've stated, though the road has been bumpy.

He makes the retail speculator out to be a god when it is just an ant along for the ride. His entire premise falls on this and I'm not biting. The crypto community is a tiny and insignificant niche. To suggest anything greater is to project delusions of grandeur of oneself.

I work in the IT industry, including having prior experience working at a correspondent bank.  Which I have seen and worked on projects that impact inefficiencies with the current system, including cross border transactions.  Which is a reason why I believe Ripple is making real progress on solving a significant problem. Like previously noted by another poster,  there are execution and strategy flaws that can be seen without having industry expertise.   Ripple has even admitted in the past on needing to adjust certain strategies.

I do not believe retail speculators to be a god. I agree retail investors and crypto community are a tiny factor.  But, I do argue it is critical for crypto and retail investors to have trust in Ripple and XRP in the short term.  If retail investors start pulling out in masses, the price tanks.  Then other groups like Institutions will not utilize XRP if the price is too volatile and depreciates.

Edited by wogojump

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20 minutes ago, wogojump said:

I work in the IT industry, including having prior experience working at a correspondent bank.  Which I have seen and worked on projects that impact inefficiencies with the current system, including cross border transactions.  Which is a reason why I believe Ripple is making real progress on solving a significant problem. Like previously noted by another poster,  there are execution and strategy flaws that can bee seen without having industry expertise.   Ripple has even admitted in the past on needing to adjust certain strategies.

I do not believe retail speculators to be a god. I agree retail investors and crypto community are a tiny factor.  But, I do argue it is critical for crypto and retail investors to have trust in Ripple and XRP in the short term.  If retail investors start pulling out in masses, the price tanks.  Then other groups like Institutions will not utilize XRP if the price is too volatile and depreciates.

I agree with everything your write, as well as your caveat.  Probably XRP needs is a small lift in price for those fair weather friends to return in their flocks....but I agree the constant pessimism does present a drag and danger if it goes on for many more months.

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21 hours ago, wogojump said:

Ripple-

Please stop the XRP dumping.  The current strategy is not working, we can see this by looking at the XRP price decline and XRP holder feedback for the past few years.  If this trend continues we are going to see XRP trade less than a few pennies. Including retail investors mass selling off XRP based on frustration and and attempt to cut off their losses.  Myself like most other investors would love to be wrong, but unfortunately that is not the current market trend and consensus throughout the community.

 

I told myself that I wasn't going to reply to this BS. I made every attempt to overlook and move on, but here goes.

First, if you have a concern with how Ripple is selling, distributing, or utilizing their ownership of XRP please, by all means, take it up with them here.  Stop inundating others with you misplaced "whoa is me" rant.

Second, dude, grow the **** up and accept responsibility for YOUR investment decisions. YOU chose to purchase XRP. No one from Ripple or the general public forced YOU to do so. Like most, I'm going to assume that you performed some level of due-diligence into the business proposition, vision, and plan Ripple had for XRP and the XRP-Ledger. Just because YOUR expected Return-on-Investment (ROI) strategy and timeline didn't pan out the way you wanted it to is not the fault of Ripple.

Third, crypto and blockchain is an extremely nascent marketplace and technology that will have many ebbs and flows, ups and downs, growth and stagnation as it matures. Sure, many try to make comparisons to traditional markets (i.e. stocks) but, at the end of the day, there is no playbook to follow to glean any sort of rhyme or reason for how the crypto marketplace behaves.

Fourth, let's get to the real problem here. YOU, like so many people, invested more than YOU should have....Period!! YOU failed yourself by betting money you couldn't afford to bet for an extended period of time. I know this to be true for the simple fact that you posted this very response. Anyone who only invested what they could afford to loose wouldn't be giving the recent price downtrend a second thought. That's not to say that they're happy about the recent down turn, after all, they want the price of XRP to appreciate just like you. Even top executives from Ripple know that in order for Ripple's vision to come to fruition the price of XRP needs to appreciate because it helps their overall strategy and plan.  Listen, nobody likes to loose money. I know I don't even if it's my play money. However, if you can't afford to loose every dime you put into crypto, then you are way out of your league.

Fifth, Ripple doesn't owe YOU jack ****!!! They are not in the business of making you rich. Their loyalty is to their investors, partners, and customers. You know, those private equity holders of the Series A/B stock. While they try to keep the XRP-Community up-to-date with what is going on with the company via the Ripple Insights articles, the Ripple Drop, xPring Medium posts, and community engagement from senior leadership (i.e. Brad, David, Asheesh, Ethan, etc.), they're not obligated. Now, that may sound harsh to you, but that's how the cookie crumbles my friend. Because XRP is an agnostic utility token used as a bridge-asset for cross-border/domestic payments, owning XRP gives you no rights or ownership in the private company Ripple. Yes, you and I may have purchased XRP via exchanges in hopes that the value will appreciate as more and more banks and FIs begin to utilize xRapid for liquidity, however, this is pure speculation and betting on our part as holders of XRP. As XRP holders, we are just along for the ride.

Finally, it's time for YOU to put on your big boy pants/big girl skirt and accept responsibility for YOUR decisions. If you can't handle the ebb and flow of the market, and all evidence point to the fact that you can't, then it's time for you to exit quietly.

 

 

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36 minutes ago, King34Maine said:

Yes, you and I may have purchased XRP via exchanges in hopes that the value will appreciate as more and more banks and FIs begin to utilize xRapid for liquidity, however, this is pure speculation and betting on our part as holders of XRP. As XRP holders, we are just along for the ride.

The liquidity that xRapid utilizes is heavily dependent upon speculators. Ripple has admitted as much. While I agree they don't owe speculators anything, constant downward pressure on the price is going to kill any public interest and dry up what little liquidity there is.

I'm glad to see Ripple is slowing down their own sales (for my sake and theirs), but we still have to deal with the Jed McCalebs and Bearwhales for a very long time.

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52 minutes ago, King34Maine said:

I told myself that I wasn't going to reply to this BS. I made every attempt to overlook and move on, but here goes.

First, if you have a concern with how Ripple is selling, distributing, or utilizing their ownership of XRP please, by all means, take it up with them here.  Stop inundating others with you misplaced "whoa is me" rant.

Second, dude, grow the **** up and accept responsibility for YOUR investment decisions. YOU chose to purchase XRP. No one from Ripple or the general public forced YOU to do so. Like most, I'm going to assume that you performed some level of due-diligence into the business proposition, vision, and plan Ripple had for XRP and the XRP-Ledger. Just because YOUR expected Return-on-Investment (ROI) strategy and timeline didn't pan out the way you wanted it to is not the fault of Ripple.

Third, crypto and blockchain is an extremely nascent marketplace and technology that will have many ebbs and flows, ups and downs, growth and stagnation as it matures. Sure, many try to make comparisons to traditional markets (i.e. stocks) but, at the end of the day, there is no playbook to follow to glean any sort of rhyme or reason for how the crypto marketplace behaves.

Fourth, let's get to the real problem here. YOU, like so many people, invested more than YOU should have....Period!! YOU failed yourself by betting money you couldn't afford to bet for an extended period of time. I know this to be true for the simple fact that you posted this very response. Anyone who only invested what they could afford to loose wouldn't be giving the recent price downtrend a second thought. That's not to say that they're happy about the recent down turn, after all, they want the price of XRP to appreciate just like you. Even top executives from Ripple know that in order for Ripple's vision to come to fruition the price of XRP needs to appreciate because it helps their overall strategy and plan.  Listen, nobody likes to loose money. I know I don't even if it's my play money. However, if you can't afford to loose every dime you put into crypto, then you are way out of your league.

Fifth, Ripple doesn't owe YOU jack ****!!! They are not in the business of making you rich. Their loyalty is to their investors, partners, and customers. You know, those private equity holders of the Series A/B stock. While they try to keep the XRP-Community up-to-date with what is going on with the company via the Ripple Insights articles, the Ripple Drop, xPring Medium posts, and community engagement from senior leadership (i.e. Brad, David, Asheesh, Ethan, etc.), they're not obligated. Now, that may sound harsh to you, but that's how the cookie crumbles my friend. Because XRP is an agnostic utility token used as a bridge-asset for cross-border/domestic payments, owning XRP gives you no rights or ownership in the private company Ripple. Yes, you and I may have purchased XRP via exchanges in hopes that the value will appreciate as more and more banks and FIs begin to utilize xRapid for liquidity, however, this is pure speculation and betting on our part as holders of XRP. As XRP holders, we are just along for the ride.

Finally, it's time for YOU to put on your big boy pants/big girl skirt and accept responsibility for YOUR decisions. If you can't handle the ebb and flow of the market, and all evidence point to the fact that you can't, then it's time for you to exit quietly.

 

 

Whoa :) 

I can feel anger and frustration here but it’s not helping.

 I got in at $ 0.18 in  the summer of 2017 , I am fine.

My only question is , if you believe in GM why would you invest in Ford ? 

I love you man :) 

 

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1 hour ago, Capone said:

Garlinghouse said publicly that he’s buying Bitcoins ! Is he selling his XRP’s for Bitcoins ?

 

He said he holds BTC, not seen anywhere he has stated he is actively still buying.

I’m a huge fan of XRP but converted some to BTC a few months back and back again to make 10000s more units. 🍺 

 

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11 hours ago, King34Maine said:

I told myself that I wasn't going to reply to this BS. I made every attempt to overlook and move on, but here goes.

First, if you have a concern with how Ripple is selling, distributing, or utilizing their ownership of XRP please, by all means, take it up with them here.  Stop inundating others with you misplaced "whoa is me" rant.

Second, dude, grow the **** up and accept responsibility for YOUR investment decisions. YOU chose to purchase XRP. No one from Ripple or the general public forced YOU to do so. Like most, I'm going to assume that you performed some level of due-diligence into the business proposition, vision, and plan Ripple had for XRP and the XRP-Ledger. Just because YOUR expected Return-on-Investment (ROI) strategy and timeline didn't pan out the way you wanted it to is not the fault of Ripple.

Third, crypto and blockchain is an extremely nascent marketplace and technology that will have many ebbs and flows, ups and downs, growth and stagnation as it matures. Sure, many try to make comparisons to traditional markets (i.e. stocks) but, at the end of the day, there is no playbook to follow to glean any sort of rhyme or reason for how the crypto marketplace behaves.

Fourth, let's get to the real problem here. YOU, like so many people, invested more than YOU should have....Period!! YOU failed yourself by betting money you couldn't afford to bet for an extended period of time. I know this to be true for the simple fact that you posted this very response. Anyone who only invested what they could afford to loose wouldn't be giving the recent price downtrend a second thought. That's not to say that they're happy about the recent down turn, after all, they want the price of XRP to appreciate just like you. Even top executives from Ripple know that in order for Ripple's vision to come to fruition the price of XRP needs to appreciate because it helps their overall strategy and plan.  Listen, nobody likes to loose money. I know I don't even if it's my play money. However, if you can't afford to loose every dime you put into crypto, then you are way out of your league.

Fifth, Ripple doesn't owe YOU jack ****!!! They are not in the business of making you rich. Their loyalty is to their investors, partners, and customers. You know, those private equity holders of the Series A/B stock. While they try to keep the XRP-Community up-to-date with what is going on with the company via the Ripple Insights articles, the Ripple Drop, xPring Medium posts, and community engagement from senior leadership (i.e. Brad, David, Asheesh, Ethan, etc.), they're not obligated. Now, that may sound harsh to you, but that's how the cookie crumbles my friend. Because XRP is an agnostic utility token used as a bridge-asset for cross-border/domestic payments, owning XRP gives you no rights or ownership in the private company Ripple. Yes, you and I may have purchased XRP via exchanges in hopes that the value will appreciate as more and more banks and FIs begin to utilize xRapid for liquidity, however, this is pure speculation and betting on our part as holders of XRP. As XRP holders, we are just along for the ride.

Finally, it's time for YOU to put on your big boy pants/big girl skirt and accept responsibility for YOUR decisions. If you can't handle the ebb and flow of the market, and all evidence point to the fact that you can't, then it's time for you to exit quietly.

 

 

So in a regulated market, Ripple breaking the law is their fault. But in an unregulated market, it's our fault. I like this logic.

We can always pass a retrospective law, as a democracy, and literally put them in jail because the fraud is their fault, not ours, lol. 

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On 8/16/2019 at 12:45 AM, wogojump said:

Below are a few summary points on the sell off problem:

 

 

Let's take a look at this https://blog.bitmex.com/the-ripple-story/ and the final agreement with Jed. By the way did you know that the smallest, indivisible unit of XRP (=drop) had an alternative term (= "jed", after Jed McCaleb) at first, see https://forum.ripple.com/viewtopic.php?f=1&t=40&p=228)

http://archive.is/ZmXph

The following are the key points of the new agreement (February 2016):

Ripple will release any claim it has on the funds currently deposited with the federal District Court for the Northern District of California and Stellar will take possession of these funds.

Jed will donate 2 billion XRP to a charitable donor-advised fund ("DAF") of his choice. The same limits are placed on the ability of the charity to sell the XRP as are placed on the Jed's ability to sell his remaining XRP.

All of Jed and his children's remaining XRP, approximately 5.3 billion XRP, will be placed in a custody account at Ripple. While Jed retains full title and ownership of his remaining XRP, Ripple will control the release of his XRP in a manner consistent with the settlement agreement. Specifically, Jed will be allowed to sell his remaining XRP in the following manner:

- for the first year of the agreement Jed and the DAF will be able to collectively sell 0.5 percent of the Average Daily Volume of XRP for each day of the week, including weekends and holidays.*

- for the second and third years of this agreement, Jed and the DAF will be able to collectively sell for each day of the week 0.75 percent of the Average Daily Volume.

- for the fourth year of the agreement, Jed and the DAF will be able to collectively sell for each day of the week 1.0 percent of the Average Daily Volume.
for any time after the fourth year of the agreement, for each day of the week Jed and the DAF will be able to sell 1.5 percent of the Average Daily Volume.


We at Ripple are pleased with the outcome of this agreement. It provides predictability and clarity about distribution of the largest individual holding of XRP in a way that fosters good health and growth in the Ripple ecosystem.

*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.!!!!!!!!!!!!!!

 

Now the key here is "XRP traded on the Ripple consensus ledger".Off we go to https://xrpcharts.ripple.com/#/xrp-markets look for XRP Ledger, and select in the top left corner XRP or USD and select 7 days. It says 6 M XRP, so let's say that the daily volume is then 1M XRP (6/7 + me ceiling it). 1% of 1 M XRP = 10000 XRP. which is about 2.6 k $. Yes, Jed is killing us!!! Stop Jed stop!!!!!!!!!!!!!!!! Jed you Drop!

 

Regarding your second bullet, it's called BUIDLing the internet of Value and growing the XRP ecosystem. But hey, I must be wrong.

 

 

 

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