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Talinos

Settlement of Jed's XRP

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Hey Guys,

recently I saw a lot of talk about Jed Mccalebs XRP. I just wanted to ask: are we already in the seventh year? Can he already sell more then 2 B per year or is the timeline different and we are now in the 6th year ? :huh: 

Selling possibilities:

$10,000 per week during the first year

$20,000 per week during the second, third and fourth years

750 million XRP per year for the fifth and sixth years

1 billion XRP per year for the seventh year

2 billion XRP per year after the seventh year

 

 

Edited by Talinos

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5 minutes ago, Dxeed said:

Those are the old terms which has since changed after Ripple took Jed to court. Read here:

https://www.coindesk.com/ripple-jed-mccaleb-settle-suit-over-1-million-in-disputed-funds

 

McCaleb can only sell a percentage of the daily volume. The new terms are:

2016: 0.5% of Daily Volume

2017: 0.75% of Daily Volume

2018: 0.75% of Daily Volume

2019: 1% of Daily Volume

2020 (and beyond) : 1.5% of Daily Volume

 

IMO, these are much better than the old terms even though Jed McCaleb himself considered this a "win" in his blog. He's after Ripple/XRP and even though he has soooo much more to gain from the success of XRP than all of us here combined, he's hellbent on taking them down (what an idiot). Imagine if he was able to sell 1 billion XRP last year or 2 billion this year? The order books are too thin to handle such dumps. Those people calling for sub cent XRP would've been correct. The new terms are much better and its effects are going to be negligible when things really get going.

 

I do wonder what daily volume they take to decide it. Ripple was selling too much for a while basing the sells on washtraded volumes.

Perhaps that is also the reason Jed stopped selling for a while in 2019 as he sold too much and they needed to take a new measurement for 24hr volumes.

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If he sells based on actual xrp volume then it's fine but if it's based on CMC's wash trading volume then thats not good. Knowing ripple since just a few month ago based their sells on the wash trading volume I would say it's the latter unfortunately

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My biggest concern is this....why is he selling.....does he wont out?  If so why?  Does he not believe in the success of XRP with Ripple?  Or has he been forced to liquidate his shares down to a less impactful level?

If he knows the inner-working of @Ripple and has had a glimpse of the future of XRP and all the stories we #HODL'ers dream about and we secretly believe more than we would admit (out of embarrassment) ....then wouldn't JED hold on?  I don't think he needs to money any more??? why the systematic DUMPING of the maximum allowable volume?

Before everyone slams me....I'm a HODL guy and too embarrassed to tell what percentage of XRP I hold as opposed to other crypto.

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Even selling every day it will take him years and years to sell off his entire stash. He can afford to sell at whatever price the coin currently is and still benefit massively when it goes up in value

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27 minutes ago, nakedzzrp said:

If he sells based on actual xrp volume then it's fine but if it's based on CMC's wash trading volume then thats not good. Knowing ripple since just a few month ago based their sells on the wash trading volume I would say it's the latter unfortunately

*very* important point.

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55 minutes ago, Caracappa said:

I do wonder what daily volume they take to decide it. Ripple was selling too much for a while basing the sells on washtraded volumes.

Perhaps that is also the reason Jed stopped selling for a while in 2019 as he sold too much and they needed to take a new measurement for 24hr volumes.

IIRC Ripple has changed the source for this volume.

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19 minutes ago, itcdominic said:

My biggest concern is this....why is he selling.....does he wont out?  If so why?  Does he not believe in the success of XRP with Ripple?  Or has he been forced to liquidate his shares down to a less impactful level?

If he knows the inner-working of @Ripple and has had a glimpse of the future of XRP and all the stories we #HODL'ers dream about and we secretly believe more than we would admit (out of embarrassment) ....then wouldn't JED hold on?  I don't think he needs to money any more??? why the systematic DUMPING of the maximum allowable volume?

Before everyone slams me....I'm a HODL guy and too embarrassed to tell what percentage of XRP I hold as opposed to other crypto.

He has billions of it. If he sells all at current price he probably would still have 1 billion $. I'd be selling too. It'll take still many years and if prices go up he can just continue to sell and he'll have even more money in the end. Don't tell me cashing out 1billion$ is a bad deal :p

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1 hour ago, itcdominic said:

My biggest concern is this....why is he selling.....does he wont out?  If so why?  Does he not believe in the success of XRP with Ripple?  Or has he been forced to liquidate his shares down to a less impactful level?

 

It's personal...you had to be there where he was kicked out of Ripple and posting all his "I'm a cool guy so I'm gonna tell you that I'll dump Billions of XRP next week so you can start selling all yours now"...and the price flash crashed to record low....

He's obsessed with Ripple going bankrupt and XRP to 0$...that's it that's all...find David's quote on this...something like "the only guy (Jed) who does everything in his power to not be a billionaire but still will be"

Edited by Malloy

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1 minute ago, Malloy said:

It's personal...you had to be there where he was kicked out of Ripple and posting all his "I'm a cool guy so I'm gonna tell you that I'll dump Billions of XRP next week so you can start selling all yours now"...and the price flash crashed to record low....

He's obsessed with Ripple going bankrupt and XRP to 0$...that's it that's all...find the David's quote on this...something like "the only guy (Jed) who does everything in his power to not be a billionaire but still will be"

What a loser......I don't get JED,  seems to me the best way he could stick it to them would be to hold on and then take advantage when it grows in value.

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Just now, itcdominic said:

What a loser......I don't get JED,  seems to me the best way he could stick it to them would be to hold on and then take advantage when it grows in value.

He's already richer than anyone here will ever be...he doesn't care about money anymore (because he's got so much)...he wants Ripple/XRP out and his forked baby XLM the only one out there....

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