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Locking up Ripple's XRP with Crypto Conditions

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23 hours ago, JoelKatz said:

My position on this has evolved lately, largely due to conversations with Miguel. My position used to be that it didn't really matter but that locking up some XRP wouldn't hurt us and might help, so there was no reason not to do it. I was concerned that we might limit our future flexibility and so didn't advocate locking up on a tight schedule.

However, if we're going to lock up XRP on the ledger, we're doing it to provide more predictability. Locking up too little or for too short means we get less predictability. Too little gives effectively no predictability at all. Essentially, I was super-concerned about us needing XRP for something and not having it and ignoring the harm from overhang that we could have mitigated by locking up.

Now I think we probably should lock up as much as we think we can for as long as we think we can. If we don't, people will fear that if things aren't going so well, we'll be tempted to sell lots of XRP, precisely the fear we want to eliminate. In exchange, if we're doing well and need more XRP for some reason, we should just be able to buy it if we have to.

The only real downside to locking up too much XRP is if the price is getting too high and we want to use the opportunity to increase the supply but can't. First, that's a good problem to have. Second, in that case, we can still increase the supply at a predictable rate, and I don't see it being a problem if the price gets "too high". We're not looking to make money by selling XRP at temporary peaks -- that's never been our strategy.

 
 

A set release with predictability is the key here. Having a clause in the terms where Ripple can dump on speculative bubbles is a bad idea. We want to encourage traders/ speculators, not scare them away. The core issue of this topic is increasing the XRP price (otherwise, why does it matter if Ripple's XRP are locked?). This wouldn't hurt Ripple as they would be able to sell less XRP for the same amount, thus spreading it out further. Although ideal, to be honest, we don't need crypto conditions (if it is so difficult), we just need transparency of Ripple's accounts and a pledge by management to stick to a consistent weekly amount of XRP. 

There are many arguments to why a price increase is a good thing, but you all probably know this by seeing how it worked out for ETH (increased media attention, increased volume, increased liquidity, increased third party development, coinbase etc). 

Edited by Omnis

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Guest Vinnie
On 3/26/2017 at 3:12 AM, JoelKatz said:

The only real downside to locking up too much XRP is if the price is getting too high

Don't worry, I'm sure they'll have no trouble keeping the price from getting too high.

 

Edited by Vinnie

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5 hours ago, Vinnie said:

Don't worry, I'm sure they'll have no trouble keeping the price from getting too high.

 

 

If true, it explains the reluctance to touch XRP after the last spike.

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Guest Vinnie
On 3/26/2017 at 3:12 AM, JoelKatz said:

...if the price is getting too high...

The phrase "XRP price is getting too high", no one who is working at Ripple should even be able to form the thought, nevermind say it, and especially not in public. That's like saying "if our team is scoring too many points."

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12 minutes ago, Vinnie said:

The phrase "XRP price is getting too high", no one who is working at Ripple should even be able to form the thought, nevermind say it, and especially not in public. That's like saying "if our team is scoring too many points."

Does anyone has a problem with this? 

 

IMG_4946.PNG

Ahah

Edited by seve7ete

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Guest Vinnie
Just now, seve7ete said:

Does anyone has a problem with this? 

The problem is I didn't sell when the price was at 4 million!

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45 minutes ago, Vinnie said:

The phrase "XRP price is getting too high", no one who is working at Ripple should even be able to form the thought, nevermind say it, and especially not in public. That's like saying "if our team is scoring too many points."

I understand all the individual terms in the phrase "XRP price is getting too high" but that sentence fragment just doesn't make any sense to me.

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23 minutes ago, nikb said:

I understand all the individual terms in the phrase "XRP price is getting too high" but that sentence fragment just doesn't make any sense to me.

Too high for us to buy more! :D

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The statement that the XRP team knows how to depress the priceof XRP is actually true. Although not what ANYONE would EVER want  to hear especially from a Ripple employee. Look at the historical charts on the price of Ripple. It has been in steady decline. The technology you have is amazing and is likely going to be implemented by every bank.  

There are two things that come to mind from ridiculous statements made by what should be respected employees of Ripple. 

1. Does the cross border payments that can be made with Ripple reliant on Ripple's price to below for there to be savings for the banks? If  thats the case  then the statements arent ridiculous, they just show that Ripple has a business  plan that is not congruent with what most investors would put their money into. 

2.If Ripple has no problem depressing the price can you also try to raise it? That is if #1 is not the case? 

Miguel I dont have any beef with you but your responses to the posts on here are less than comforting, in fact  after reading your replies all I want to do is sell all my Ripple. 

"Ripple has no problem keeping the price down" HA that should have NEVER been said much less posted  for all  to see. 

 

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