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CEO Brad Garlinghouse says '' Ripple Would Be Unprofitable Without XRP Sales''


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"As reported in January, Ripple reduced sales of XRP from its escrow fund last quarter when it secured USD 200 million in funding. In September 2019, Garlinghouse confirmed that Ripple is selling XRP to some of their institutional clients at a discount.

The company has long been under suspicion for exercising a great deal of control over XRP, while also using the token mainly as a funding vehicle for its own operations. Although this would imply that Ripple has a vested interest in keeping the price of XRP up, the asset is still down by more than 90% from its all-time high in early 2018. Bitcoin, by comparison, is currently down about 55% from its all-time high."

Ripple reduced sales last year. Not just in January, however it would have been reported in January, just as it would have in December. Then last sentence Xrp down more than BTC. OK??????

Here is the only FT article that was written this year.

https://ftalphaville.ft.com/2020/02/26/1582730287000/The-art-of-redefining-success--MoneyGram-and-Ripple-edition/

02/28/2020

The rest were last year and Bitcoin related, but due to a pay wall I can not read through them.

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Martin Walker again, that guy is heavily invested in talking shit about "blockchain" for some reason. During a hearing in the UK parliament a few years ago he praised SWIFT and talked down Ripple. He

With the aggressive expansion of offices, hiring etc. I'm not really surprised they wouldn't be profitable without XRP sales, after all they were selling a lot in the past 2 years. I don't think the n

Pointless thread. Ripple has virtually stopped selling for months now.

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4 hours ago, mandelbaum said:

Martin Walker again, that guy is heavily invested in talking shit about "blockchain" for some reason. During a hearing in the UK parliament a few years ago he praised SWIFT and talked down Ripple. He clearly has some sort of agenda. He left R3 and is now director of some sort of "non profit" (yeah right) group.

https://www.coindesk.com/ripple-put-defense-uk-parliament-blockchain-hearing

I would not trust him with running a Hot dog stand.

I remember that hearing , I think it was the MP John Mann who politely told him to shut up (not the exact words)

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https://english.stackexchange.com/questions/2271/what-is-the-proper-use-of-square-brackets-in-quotes

Square brackets are used around words that are added that are not part of the original quote. For instance, you might have a source that says "Brenda and David went to the store," but you only want the quote to refer to David as a pronoun in your quote. So you should change it to "[He] went to the store."

 

"We would not be profitable or cash flow positive [without selling XRP], I think I’ve said that. We have now.”

As my memory is coming back I think when Brad mentioned Ripple would not be cash flow positive without the sales of xrp was during the early years of Ripple. Around 2015 time frame.

 

 

Edited by peanut56
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32 minutes ago, peanut56 said:

https://english.stackexchange.com/questions/2271/what-is-the-proper-use-of-square-brackets-in-quotes

Square brackets are used around words that are added that are not part of the original quote. For instance, you might have a source that says "Brenda and David went to the store," but you only want the quote to refer to David as a pronoun in your quote. So you should change it to "[He] went to the store."

 

"We would not be profitable or cash flow positive [without selling XRP], I think I’ve said that. We have now.”

As my memory is coming back I think when Brad mentioned Ripple would not be cash flow positive without the sales of xrp was during the early years of Ripple. Around 2015 time frame.

 

 

Yep, timing and context is everything sometimes. To assert that Brad was being dishonest or misleading is in itself dishonest when you attempt to separate what someone says, from either the time frame or the underlying situation.  Besides, actions speak louder than words: Ripple halted xrp sales and raised over $200 million - this speaks volumes to the strength of their company and the network that they're building.

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7 hours ago, Staigera said:

https://zycrypto.com/ripple-ceo-garlinghouse-says-companys-profitability-is-driven-by-xrp-sales/

https://cryptonews.com/news/ripple-would-be-unprofitable-without-xrp-sales-ceo-admits-5922.htm

 

First off all i don't know how reliable this news is since the crypto space is filled with shilling shady articles that hype sh!t up more then it means. But if it's true then this is another sign that Ripple is dishonest with us.

And notice how i'm not talking about them using XRP sales to build the railway perse because most of that has already been done.

I'm talking about the fact that he says that they need the XRP sales to keep the lights on, because i recall either Brad or DS saying they do not require the sale of XRP to survive but do it out of necessity to spread XRP on the market to increase the liquidity.

If the article above is accurate, then this is yet another thing that contradicts with what Ripple said earlier.

We already have the famously overly optimistic predictions made by Mr Garlinghouse about the big bank(s) using XRP. And now this.

 

 

For someone who says he has "no tolerance for bullsh@#@$" you sure indulge in spreading it. Ha ha ha ha, again, what a loser!

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8 hours ago, Staigera said:

First off all i don't know how reliable this news is since the crypto space is filled with shilling shady articles that hype sh!t up more then it means. But if it's true then this is another sign that Ripple is dishonest with us.

 

53 minutes ago, VanGogh said:

For someone who says he has "no tolerance for bullsh@#@$" you sure indulge in spreading it. Ha ha ha ha, again, what a loser!

Please take your head out your arse before you blindly quote me. As you can (hopefully) read I bolded the text for you since I know you need some extra aid. I already wrote that these articles might be bs or might not be that was the point to talk about it.

But you're right I do have zero tolerance for bullsh!t that's why I won't waste a sec longer on you.

 Jake Gyllenhaal Goodbye GIF by moodman

Edited by Staigera
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4 hours ago, quan said:

Waves of confused newbies are endless 

Not sure who your referring to but a valid point , there will be endless newbies coming here for education and references once regulatory clarity is confirmed . Lately a few idiots are trying to turn it into a cesspool , so to your point i don't envy the newbies enterering this space , you certainly don't just use this forum for your education IMHO. 

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11 hours ago, Panopticon said:

Pointless thread. Ripple has virtually stopped selling for months now.

How can you be so sure about this? Just because they say so? What about the big chunks each month not going back into escrow?

They also never told us before that - even with no insitutional sales - that they'll keep back large amounts of XRP for whatever purposes.

TBH, Brad seems likeable as a person, but more and more not like the kind of guy who stands for integrity, transparency and trustworthiness.

End of 2018 he proclaimed that Ripple by now is running in the black without depending on XRP sales. Should we go on listing the, well, untruths?

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With the aggressive expansion of offices, hiring etc. I'm not really surprised they wouldn't be profitable without XRP sales, after all they were selling a lot in the past 2 years. I don't think the new secured funding of $200M will secure them financially for very long so they'll either have to start selling XRP on the open market or they'll do an IPO. It seems the latter is the option Brad G is going for. 

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