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Suggestion: Burn 50 billion XRP

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2 hours 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.
 

Regurgitating a tweet from someone else about burning supply (XLM or XRP) and having the capacity to double supply is a pure form of Bitcoin maxi FUD.  You’re better than that Al.  

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3 hours 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.
 

Seriously, literally the post above yours explains that Stellar didn't 'destroy' or 'cut in half' the XLM, it was sent to a blackhole wallet and hence is in no way related to the ability of the protocol to be altered indiscriminately. Nothing happened that couldn't also be done with any PoW coin so let's not get into the whole forking Bitcoin debate.

The credibility question re XLM, to many, was never resolved to start with. The SDF was/is at a dead end and have again (is this the second or third time?) flipped on their stated mandate in order to try to create meaning for their coin.

Basically, I 'could' be a pink flying unicorn that does rainbow turds but I am not, as Ripple will not do the same thing with XRP. Oh yeah, not to mention that they can't actually do this anyway even if they wanted to >>> Can Ripple create more XRP? <<<

Edited by Zerponaut
added 'cut in half' and link

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19 hours ago, Zerp_Legend said:

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

I think they're a bad example :) if there's actual utility and possible future supply is reduced to half then I do believe that allows the network effect to kick in earlier. It will give more trust that value will not be diluted. On the other hand I do worry more about the influence of the holdings of Jed and Kris tbh and how they affect sentiment.

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14 hours ago, quan said:

In order for xrp to become the global reserve digital currency, Fed needs to hold xrp as well.

The interest rate is heading to zero.  Fed needs a new vehicle to drive the economy. It is a good timing for ripple  to give offer. 

 

The problem with this is that this will allow the USA to have major influence on RippleNet and XRP, of course this is a good thing for the USA. However, basically any non-American organization (banks, central banks, companies, hedge funds) will have less interest/benefits of using RippleNet. Many countries want to get rid of the American power in the current financial system and Ripple/XRP can facilitate this. By giving that much power to the USA it will be quite likely that the majority will start looking for alternative technologies that will facilitate more freedom in the financial system.

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9 hours ago, yxxyun said:

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. 

Interesting stuff. Didn't know that. So how do you know it's a blackhole address? Is it an address to which the private keys are thrown away? How can you be sure that it's no longer accessible? Or is a keychange done to some obviously bad private key (like all zeros)?

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8 hours 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.

I think that's factually untrue. If they made the tokens inaccessible that's something else than going against the protocol's rules that there's X amount of tokens. To create more you actually need a protocol change. For reducing supply you don't.

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22 minutes ago, SquaryBone said:

Interesting stuff. Didn't know that. So how do you know it's a blackhole address? Is it an address to which the private keys are thrown away? How can you be sure that it's no longer accessible? Or is a keychange done to some obviously bad private key (like all zeros)?

From the Stellar blog

“To burn the lumens, we have sent them to a Stellar account with no signers (including a master key weight of 0):

GALAXYVOIDAOPZTDLHILAJQKCVVFMD4IKLXLSZV5YHO7VY74IWZILUTO“

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18 hours ago, Parabellum said:

What Stellar did is closer to capitulation than to anything else. From the Stellar.org report:

Quote

“We didn’t start by wanting to burn. We started by asking ‘what do we need?'” Dixon told the room of roughly 200 attendees. “As much as we wanted to use the lumens that we held, it was very hard to get them into the market.”

Now tell me: what does this say about XLM?

It says a lot. Every bit of the quote is amazing.

"As much as we wanted to use the lumens that we held..." In other words, no amount of marketing, promotion, JV's, partnerships and other BS from the Stellar team was ever going to be enough to sell even some of their XLM without tanking the market.

XLM went from 7c before the coin-burn to 8c. That's about as catastrophic a failure of interest in a cryptocurrency as I've ever seen. If they pull it off over the medium  term, I'll take my hat off to them - it's an interesting experiment in crypto-economics.

The best one could say is that it was a nice surprise for Arthur Britto. :)

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34 minutes ago, Pablo said:

It says a lot. Every bit of the quote is amazing.

"As much as we wanted to use the lumens that we held..." In other words, no amount of marketing, promotion, JV's, partnerships and other BS from the Stellar team was ever going to be enough to sell even some of their XLM without tanking the market.

XLM went from 7c before the coin-burn to 8c. That's about as catastrophic a failure of interest in a cryptocurrency as I've ever seen. If they pull it off over the medium  term, I'll take my hat off to them - it's an interesting experiment in crypto-economics.

The best one could say is that it was a nice surprise for Arthur Britto. :)

That quote indeed doesn't look good. On the other hand I do wonder, how do we know Ripple did not overshoot the amount of XRP? It was semi arbitrary. We don't know if there will be demand for that much XRP. XLM is already a long time dead in the water to me. XRP and Ripple isn't. But we don't have a crystal ball.

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