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Suggestion: Burn 50 billion XRP

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5 minutes ago, XRPisVELOCITY said:

And the word T U R D is censored? No wonder i stopped posting here. What a joke. 👎

 

I never really understood why some forums choose to censor curse words. We're all adults. Censoring that is even past that line. Lmao

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33 minutes ago, grunish said:

Why would MC be maintained? MC does not represent the value that has been put in, that somehow moves over to the remaining coins? Therefore with 50% burnt I would find it more logical that MC would go to 50%.

In specific regards to market cap, you're absolutely correct that if half a crypto's supply was burned, the market cap at that moment would also be halved. A large reason why they didn't suddenly drop way down in market cap is that it doesn't seem like what they burned was ever in the circulating supply (which is what we use to determine market cap).

Since there's a smaller maximum circulating supply, that scarcity should drive up the price. If I like XLM at $0.08 each when I anticipated a 100B supply, then it's reasonable to say that I'd accept XLM at $0.16 each if the supply was half as big. It's not a perfect example because some of the price influence is going to be based on what's circulating right now as opposed to however long in the future.

The thing that's interesting with circulating supply in crypto is that it's all just a number. We could absolutely have a crypto out there with a circulating supply of 1 (or even less) and it would continue to function just fine (barring tech limitations/concerns of how that number is stored). It just means we'd be buying small decimals instead of whole numbers. There are absolutely psychological factors to owning big numbers of something. In a commerce world, I would also rather pay 5 XRP for a soda than 0.00016 BTC. Less leading zeroes to get lost in.

Edited by Xrylite
Minor grammar tweaks.

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On 11/5/2019 at 6:13 AM, QWE said:

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.

There were a lot of better decisions that they could have made in hindsight but they made the best choices they thought at the time.

The 100B XRP  wasn't even a calculation. They just figured it wasn't too many or too little.

When giving that many XRP to those people they probably never thought the value would get so high and they probably never figured Jed would act like a crazy crackhead.

Even naming the token XRP (or Ripple for those of those that remember that!) was a botch that they had to clean up by just calling it XRP now instead of Ripple XRP due to a name conflict with the company Ripple Labs (AKA Ripple).

Edited by AlejoMoreno

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5 minutes ago, AlejoMoreno said:

I never really understood why some forums choose to censor curse words. We're all adults. Censoring that is even past that line. Lmao

And T*rd isn't even a curse word!!!

How about this post xrpxhat.

**** ***! ********! *** **** ****! And **** ***** ****!! 

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40 minutes ago, AlejoMoreno said:

I never really understood why some forums choose to censor curse words. We're all adults. Censoring that is even past that line. Lmao

I figure Karlos and other moderators want to keep some minimum quality standards here, for which I commend them. Crypto Twitter does not exactly set the bar very high, now does it?

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1 hour ago, Parabellum said:

I figure Karlos and other moderators want to keep some minimum quality standards here, for which I commend them. Crypto Twitter does not exactly set the bar very high, now does it?

There's a difference between using a curse word and talking like an idiot.

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13 hours ago, baggy23 said:

I'd just like to hear opinions on this.

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

 

Curious, how does one burn 50% of an infinite/inflationary supply. Hmm...

(Yes, I'm talking about you Xlm)

Edited by PhiGuy

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1 minute ago, PhiGuy said:

Curious, how does one burn 50% of an infinite/inflationary supply. Hmm...

stellar 's inflation had stopped since last month. 

Edited by yxxyun

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13 hours ago, baggy23 said:

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

IMO - no. I don’t foresee Ripple destroying any XRP to make each one worth more. I’ve heard the “utility brings value” speech enough to be under the belief that...utility brings real value.

Plus - Ripple to me plays the long game. More methodical and thoughtful.

Jed, while obviously brilliant seems to play the short game. A little more reckless and more reactive perhaps.

This may be part of the reason for the falling out between the original team members before he went on to create XLM.

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actually stellar don't have "burn " operation.

these XLM were sent to a blackhole address. 

same as the fees in stellar, fee was going to a "fee pool" and distributed with inflation every week,  since they disable inflation recently,  the fees were locked in the fee pool.

https://www.stellar.org/developers/guides/concepts/fees.html#fee-pool

that's different with XRPL. 

Edited by yxxyun

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If they can cut the supply in half overnight they can just as well double it next year. Total lost of credibility.

Ripple could do the same thing with XRP and  same result , total lost of credibility. 

Not possible with Bitcoin.

Food for tought.
 

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1 hour ago, Capone said:

If they can cut the supply in half overnight they can just as well double it next year. Total lost of credibility.

Ripple could do the same thing with XRP and  same result , total lost of credibility. 

Not possible with Bitcoin.

Food for tought.
 

So four blokes who control more than 50 percent of hashrate are messaging each other about whether they want to roll back a hacking Bitcoin transaction (ultimately decide not to) and that’s ok?

Not possible with the XRP ledger.  Food for thought.

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