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What Ripple means when they say a company is "using" XRP

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1 hour ago, mandelbaum said:

Uncle Craig made a booboo. Even though uncle Craig might be a fraud, there will be a massive cloud hanging over the industry of 2.5-5 Billion dollars of BTC being dumped in one go over the next years. That is enough to bankrupt all the biggest exchanges in one night when the algos kick inn. Litecoin will be dragged down with it.

Why do the fudsters suddenly crawl out from under the rock? Well, the XRP-Ledger is very scary, not only because is intergrated into the most innovative Fintech revolution since humans began keeping ledgers. It actually does it a lot better.

Do the founders of Ethereum invest in companies not using ERC-20 og ETH? Yes. Do the Winklewoss twins invest in companies not using BTC? Yes. Why? They want to create a new form of global financial system. So does Ripple.

Why do people keep saying it will be dumped in one go? If 500k BTC is actually handed over it’ll likely be an estate lawyer that will be managing the sale of the coins. That’s IF they decide to sell at all.

 

And if they do sell it it would never be all in one go unless it was a private sale OTC which totally doesn’t affect the market at all.

I just want to understand where all these dumping assumptions come from. Maybe I’m missing a key fact here or something?

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37 minutes ago, Ripple-n-Time said:

Quit being so emotional 😭 (even though your handle implies it). 

Theoveremotionalinvestor may be better. But probably not accurate. Still needs escalation to something more juvenile to be properly representative. IMHO

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2 hours ago, Atomic1221 said:

Why do people keep saying it will be dumped in one go? If 500k BTC is actually handed over it’ll likely be an estate lawyer that will be managing the sale of the coins. That’s IF they decide to sell at all.

 

And if they do sell it it would never be all in one go unless it was a private sale OTC which totally doesn’t affect the market at all.

I just want to understand where all these dumping assumptions come from. Maybe I’m missing a key fact here or something?

Dumping assumption is quite real. IRS or equivalent demands estate tax paid in fiat. All that BTC is valued in fiat at death. No way around it. It is interesting that the court decision later clarified the estate’s value, but the principle remains. That tax bill has to be paid one way or another. 

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Back to the point. Brad said (paraphrasing):  “We are supporting businesses building with XRP, ie. Dharma and Forte”. 

Dharma and Forte said “We are not building anything with XRP”.

This - at the very least - tells us that XRP-related partnerships that Ripple can really shout about are very thin on the ground. Why would Brad use such a poor example? It looks like there is little he can point to.

According to Ripple, xPring funding is all about furthering adoption and reach of XRP and the XRPL. This is not happening. Why not?

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2 hours ago, JA8 said:

This - at the very least - tells us that XRP-related partnerships that Ripple can really shout about are very thin on the ground. Why would Brad use such a poor example? It looks like there is little he can point to.

In hindsight it is easy to say that Brad should have been consulted by one of his subordinates to name a few companies that are building on top of XRPL for sure such as XRP Labs. In short Brad made a mistake.

I'm afraid you might be right about XRP-related partnerships that Ripple can really shout about are very thin on the ground. I don't like that the narrative has changed. When xPring started Ripple implied that you can get funding if you build on top of XRPL. In reality you can get the funding from xPring even if you are not going to build on top of XRPL. Or maybe it will be enough if you promise to start to building on top of XRPL in 2025 or even later?

So, what Ripple means when they say a company is "using" XRP? As stated already I guess selling XRP to open market means technically using XRP also, right? Thus, where ever Ripple's XRP end up to the receiving party is "using XRP" because receiving XRP and then selling it for FIAT means "using XRP".

In conclusion I think the main purpose of xPring is to serve as distribution center of Ripple's XRP to the ecosystem. Ripple's generous donations are serving this same purpose as well. Ripple wants to get rid of their massive XRP holdings soon. Ripple's massive XRP bags might be the biggest reason why XRP can be perceived as security (?) In theory it is no-brainer that the fastest way to diminish Ripple's XRP holdings would be a coin burn. In practice, this might not be a good idea in legal stand point and also it would require a hard sell to the Ripple (the company) investors.

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Only because he is ceo doesn’t mean that he knows about every little detail imho. That’s simply not possible. Brad is neither a tech guy nor a banker , there is stuff that should be answered by other people than him 

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Just a point of perspective: 

Ethereum (Fabian Vogelsteller specifically) proposed ERC-20 on November 19, 2015. At the time ETH was priced at approximately $0.90 USD. 

Though the price did see some increase, it took over two years before they started seeing what could be considered a meteoric rise in value. 

As of August 25, 2019, there were 208,165 ERC-20 token contracts on the Ethereum blockchain, according to Etherscan.io

These things take time, and we don't know what the long-term goals of Ripple are with their investments into other companies. Perhaps they see the potential to tie into other markets through these investments? We (from what I can gather) are all (maybe not the FUDers) invested in XRP because we honestly believe what it represents and the impact it could have on the entire world's economy. It's easy to be negative when you're not striking it rich overnight, but speculating failure on this basic information the wrong approach. 

It's okay to inquire if you really don't know something (I know that I have), but the negative sentiment would be better displayed in a group not specifically constructed to support and transfer knowledge of XRP and Ripple. 

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Why Dharma build on Ethereum? because most popular stable coin etc are on Ethereum,  it's a natural choice for Dharma as a loan platform.

That's real ecosystem. 

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8 hours ago, panmores said:

@Hodor can you weigh in here, regarding Dharma's tweet confirmation that they receive xPring funding but are not actively developing any XRP solutions - and maybe an update about Mercury FX and EuroExim bank and their progress with xRapid?

https://www.globalbankingandfinance.com/blockchain-in-cross-border-payments-smes-opportunity-in-international-trade/

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12 minutes ago, Hodor said:

Nothing about Dharma or xPring in there. He does mention Euro Exit Bank.

"The bank uses blockchain, combined with XRP, to provide clients with on-demand liquidity for international transactions."

However I'm forced to wonder which blockchain ... and in what sense are they using XRP.

"Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way."

Do you believe Ripple have changed the focus for xPring, or would they stand by this statement even today? If so, do you not consider that at all deceptive?
 

 

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3 hours ago, hallwaymonitor said:

In hindsight it is easy to say that Brad should have been consulted by one of his subordinates to name a few companies that are building on top of XRPL for sure such as XRP Labs. In short Brad made a mistake.

I'm afraid you might be right about XRP-related partnerships that Ripple can really shout about are very thin on the ground. I don't like that the narrative has changed. When xPring started Ripple implied that you can get funding if you build on top of XRPL. In reality you can get the funding from xPring even if you are not going to build on top of XRPL. Or maybe it will be enough if you promise to start to building on top of XRPL in 2025 or even later?

So, what Ripple means when they say a company is "using" XRP? As stated already I guess selling XRP to open market means technically using XRP also, right? Thus, where ever Ripple's XRP end up to the receiving party is "using XRP" because receiving XRP and then selling it for FIAT means "using XRP".

In conclusion I think the main purpose of xPring is to serve as distribution center of Ripple's XRP to the ecosystem. Ripple's generous donations are serving this same purpose as well. Ripple wants to get rid of their massive XRP holdings soon. Ripple's massive XRP bags might be the biggest reason why XRP can be perceived as security (?) In theory it is no-brainer that the fastest way to diminish Ripple's XRP holdings would be a coin burn. In practice, this might not be a good idea in legal stand point and also it would require a hard sell to the Ripple (the company) investors.

a lot of assumptions around strategy, timelines and the purpose of xPring in this thread, and in this post, but the last part re "distribution centre" make sense to me...it all (XRP), or substantially more, needs to circulate ultimately, and ideally its being distributed in a controlled and strategic manner (i invested on the premise it would be)...every time there's one of these threads, the unknown is always on what terms the XRP were conveyed, which imo is a critical part in assessing whether the distribution event in question is favourable to the growth of the ecosystem, or not, as well as what the impact on price will ultimately be (long term).

its one thing to traffic in hypotheticals, quite another to draw conclusions with incomplete information. coin burning their "warchest" as its been called doesn't make any sense to me. it's part of their competitive advantage. time will tell i guess.

and my take on the Dharma tweets, fwiw, is that its either a question of timing ("at the moment") or there's a broader purpose at play...i'm aware those are charitable views, but i'm still in a charitable mindset with a view to my investment, i hope i'm not ultimately proven wrong...again, time will tell.

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Based on the information gathered so far, this is not looking good for Ripple.  People have been voicing their concerns about XRP being sold to proactively help the community, accuracy of information from Ripple, and upcoming lawsuits.

Then Brad reacts by posting an emotional FUD bashing twitter post without proper fact checking in attempt to address these concerns. Which Brad's comment and Xpring's business goal ends up having conflicting information with Dharma's twitter reply with them not actively working on XRP related features.

This is all occurring while there is literally an open in progress class action lawsuit against Ripple based on concerns like noted above: https://static.coindesk.com/wp-content/uploads/2019/08/716bee37-e45e-41d2-a4e1-2d966015a277.pdf. This lawsuit is directly referencing to past twitter posts like the above example that are misleading or false.  Which the lawsuit has been updating their case as new examples come out, including the last amended details being on 8/5/19. Totaling ~40 examples so far of twitter posts being referenced.

 

There are a lot of loyal fans that enjoy seeing Brad post on twitter.  Everyone is prone to making mistakes at times.  But hopefully for the sake of Ripple and XRP community, Ripple's board of directors step in to make a correction action to prevent problems like this from happening in the future.

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If Xpring says “we are going to invest only on companies that develops on the car industry”, and they invest on companies that creates roads or traffic management, which don’t touch cars directly, will they be misleading? I don’t think so. Dharma and others creates products that can be used with XRP, so indirectly they do are working developing xrpl.

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