Suggestion: Burn 50 billion XRP

[baggy23]

I'd just like to hear opinions on this.

Is it possible that Ripple will do something simmilar to what Stellar did?

 

[stickmonster]

BOOOOOOOOOOOOOOOM! Great idea.  How about you set the example and burn yours first?

Edited November 5, 2019 by stickmonster

[Kiir]

If this whole thing works, by the time it does, what's left of 100B won't be enough anyway

[QWE]

Honestly, I would much rather see Ripple keep the amount they have and continue slowly distributing them to the market. If they burn their supply, their incentive to keep working on XRP ecosystem becomes much lower at this point in time, when XRP is not widely used out there. For now Ripple is using the XRP to grow that ecosystem.

 

I would, however, much rather see the amounts Jed McCaleb and Chris Larsen supply be burnt. This is one of the few mistakes I believe XRP creators did at XRP genesis and later when donating to the company that is today known as Ripple – keeping too much of the supply to themselves as individuals.

Both have billions of XRP available, which is way too much for a digital asset that is meant to be a bridge currency on a worldwide scale. Especially since one of them continues to deliberately sabotage XRP and the other mysteriously vanishing from the public, arguably bringing nothing to the XRP ecosystem in the foreseeable future.

[knull]

when token burn lol?

[Live4xrp]

47 minutes ago, QWE said:

..and the other mysteriously vanishing from the public, arguably bringing nothing to the XRP ecosystem in the foreseeable future.

Missed this one?

 

[Duke67]

NO. Stupid idea.

400 top quality people at Ripple work 24/7/365 how to make a good use of ALL 100B.

[Benchmark]

I think it's premature at this moment when we have not even scratched the surface of real world utility of RippleNet. 

Down the line, who knows if it will be a good idea. 

[mike91]

Having a big bag is good to become lender of last resort, which might be a theoretical possibility. Of course not everyone can become this, trust is most important and perhaps there need to be some changes before it's even possible, if ever (like giving XRP to another entity / law changes / changing the view of important world economy people)

https://www.xrpchat.com/topic/31381-this-is-a-really-stupid-post/?do=findComment&comment=700389

I also remember an employee write something how this distribution 'problem' actually became something good but I can't find it at the moment.

I would be more relieved if Jed sells or burns his stash

Edited November 5, 2019 by mike91

[Panopticon]

What Stellar did only shows desperation and an attempt to pump the price.

I do not think there is a need for XRP to burn. If Ripple succeeds into making XRP global bridge currency 100 Billion will not be even remotely enough for the demand. But that will take time, and by time I estimate 3 to 8 years. As long as they keep making steps that lead to adoption, I am willing to wait.

[Zerp_Legend]

Burning 50% Of the non circulating supply won’t help , or did you see Stelle suddenly go 100% ?

[iLeeT]

Burning 50% of the supply might cause an enormous pump and push us to .31c so I'm all for it.

[Montoya]

This again?

[Montoya]

It would possibly be a criminal act for Ripple to do this as it would violate their fiduciary responsibility to shareholders. It is mathematically not in their interest to do so. They would be losing more in market cap than they would stand to gain in any increased value. It would essentially be a wealth transfer from Ripple to other XRP holders.

[baggy23]

7 minutes ago, Montoya said:

It would essentially be a wealth transfer from Ripple to other XRP holders

sounds good to me