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Ripple Open To Burning Nearly 50 Billion XRP Locked In Escrow – CEO Brad Garlinghouse----GOOD of BAD


lizshadehdg
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Burning the Escrow would be equivalent to a general marching his army off to war/market, and blowing up all the ammunition to make sure the remaining ammunition is considered "more valuable".

Completely stupid and counter to the mission. It's Asinine.

Edited by KarmaCoverage
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maybe its time Ripple made a hypothetical case study for ITS vision for the future & the use of the bulk of XRP, The various segments/industries it sees the possibilities for, & the distributions/allocations to make those visions work.

 PAINT the bigger picture, to broaden the narrow minds that maybe are failing to see this bigger picture.

Before the SEC case settles? maybe they are the narrowest minds in this respect, and need to see the errors they are making before too much damage is done.

After the settlement?  maybe more attention & better reception, but depends on the settlement, the restrictions and the amount of friction introduced.

maybe the SEC would realise there will be more to gain by ushering in more constructive regulation, & fostering the development of the US digital financial space & Its players,

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2 hours ago, KarmaCoverage said:

Burning the Escrow would be equivalent to a general marching his army off to war/market, and blowing up all the ammunition to make sure the remaining ammunition is considered "more valuable".

Completely stupid and counter to the mission. It's Asinine.

Well Cortez did very similar thing - burned all his ships during war with Aztecs so his soldiers were more motivated to win without any chance to retreat. Maybe Ripple without escrow will be more motivated to earn money via other revenue streams then selling XRP from bottomless cookie jar Escrow ;) Easy access to money can be distractive for achieving of major goals.

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Besides the SEC, this is who many in the crypto community should rally against to shut down is these hack reporters in this space. Clearly because a lot of people are new to this they are doing more harm than good. This space is so full of BS it makes you want to throw up at times and a lot of it comes from these hacks.  I know quite a bit of this crap is funded by maxi's but I think as the XRP army we should be killing these guys with kindness in our case facts every chance we get. One thing I must say the XRP army has class rarely do we go out the way to shi!t on someone else project even if it is $h!t but closed mouths don't get fed!  We don't have to counter fud with fud just overwhelm them with facts. Just my thoughts.

Edited by RikkiTikki_is_Back
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The arrogance of many in here is astonishing. Brad clearly answers the question about the escrow.

Tony asks what's the plan there.

Brad clearly relates to the escrow question - and closes:

 

"I am always open to new ideas, I don't rule anything out. It it makes sense for the XRP ecosystem then certainly Ripple would look at that."

I wonder what's the agenda of always-know-better forum members? Pros and cons of a burn are a different matter.

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6 hours ago, paym8 said:

 PAINT the bigger picture, to broaden the narrow minds that maybe are failing to see this bigger picture.

Would the bigger picture, in your mind, be the IOV?  Because that's certainly the bigger picture in my mind.

Higher level, I do think it's a good idea to, at least partly, sympathize with the SEC (regulators, in general)...

On some level - and maybe that's not the trial attorneys, but some level - they need to know it's the future.

(My high-level, 'objective' take on the proceedings, thus far:  "Process-wise, this is good stuff... Going to have to figure out how to regulate all this stuff, after this case is over... Figuring out what one can use, where, and how - especially in a multi-jurisidictional arena - is good learning... There should be a shitload of *criminal* cases for all the junk coins / disappearing exchanges / ponzi / etc, after some precedents are established which allow that to occur *in the daylight*.")

(It's a shame, in a way, that "trial by combat" is the route that we're *all* having to go down to get to some clarity - but the people in charge are either too old and set in their ways, too compromised, or too narrowly focused / lacking in vision to see the future.  You may have hit upon something bright, there, with respect to maybe expecting too much out of attorneys who are in the midst of combat to see "this stuff is like the internet, in 1995 or so...")

Very few saw that, back then... so maybe it is wise to go back to the IOV evangelism stuff - the visionary stuff - so that everyone sees what's at stake - and so that maybe some people involved will realize that all that burning Ripple at the stake will do is cause the US to miss out on the next big thing - but the danger there is that anything said will be considered either "hype" or potentially illegally marketing a security, unless it's super-high-level stuff.

We're behind enough, as it is - it's exhausting to have to fight your own countrymen while trying to fight for your own country - maybe they'll see that.

But if they *drop* the case, entirely, we still won't have any rules/precedents established which allow us to kick the US into high gear, on competition.

That's what's so sad about the previous regulators not being able to get on the same page and give the industry any real guidance - now it's all gotta come out in the wash of this case, which is a terrible waste of time and money - and only serves to put the US more behind - and then spending next few years after this case going after all of the obvious crap/scams that have to be cleaned out of the market;  meanwhile, we fall even further behind.

There's a fine line between a country being dragged down by incompetents and a country being "sold out" by people intentionally dragging their feet.

If a hard line truly has to be drawn on that, I intend to be on the right side of it;  if you think evangelism still has a shot, well, by all means, let's do that.

What do you think that would look like?

Edited by NightJanitor
Moral Highground
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38 minutes ago, NightJanitor said:

Would the bigger picture, in your mind, be the IOV?  Because that's certainly the bigger picture in my mind.

yes it would, also the IOT the internet of things,

IOF is something to consider.     

The Infrastructure of Finance

back in the early days there was talk of all sorts of ideas, vending mchines ordering & restocking themselves and paying the owners on auto, washing mchines -- etc etc, pay as you go everything, Cars that pay automatic on demand for overtaking & parking, microchips in everything. But then came banking & cross border settlement.

imagine a vending machine running on bitcoin or eth? 

But the bigger picture for me includes how & what amount of XRP will be apportioned to the "participants" in the fast moving finances of the internet of value & Things, participants being Individuals, SMEs, Corporates, Institutions, banks, societies etc & how would they Use-acquire-hold-lease-lend XRP, IF XRP was to be the Oxygen for all the different fuels(instruments, tokens, fiats, blockchains, stocks, treasuries, ledgers, people & households etc)  that make the world go round. fuel needs oxygen to burn efficiently.

Ripple must have this picture in a form that can shine a very bright light on the way IT COULD BE.

which would also show why eth & btc don't cut it in these respects.

It was said that XRPL could not handle all this, BUT

Ripple have now decided to integrate a separate unique XRPL to each individual institution, thus making it more capable for integrating the IOV IOT IOF and many other future incarnations.

I think it should be made more exciting than the story of getting on a plane with suitcases full of money.:)

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22 hours ago, lizshadehdg said:

Have you guys read this article? 

https://www.cryptograaf.nl/ripple-open-to-burning-nearly-50-billion-xrp-locked-in-escrow-ceo-brad-garlinghouse/

I have been holding my stash for quite a long time and have always thought that burning the xrp in escrow would definitely increase the price of the xrps in circulation.  But I started to think otherwise after I read this.

Isn't the sales of xrp almost only income of Ripple? If they are "open" to burn the rest of the xrp they have, does that mean they are open to abandon it?

I'm not sure...just want to know what do you guys think.

What problem would be solved by doing so? - Just greed?

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On 4/24/2021 at 5:54 PM, paym8 said:

yes it would, also the IOT the internet of things,

IOF is something to consider.     

The Infrastructure of Finance

back in the early days there was talk of all sorts of ideas, vending mchines ordering & restocking themselves and paying the owners on auto, washing mchines -- etc etc, pay as you go everything, Cars that pay automatic on demand for overtaking & parking, microchips in everything. But then came banking & cross border settlement.

imagine a vending machine running on bitcoin or eth? 

But the bigger picture for me includes how & what amount of XRP will be apportioned to the "participants" in the fast moving finances of the internet of value & Things, participants being Individuals, SMEs, Corporates, Institutions, banks, societies etc & how would they Use-acquire-hold-lease-lend XRP, IF XRP was to be the Oxygen for all the different fuels(instruments, tokens, fiats, blockchains, stocks, treasuries, ledgers, people & households etc)  that make the world go round. fuel needs oxygen to burn efficiently.

Ripple must have this picture in a form that can shine a very bright light on the way IT COULD BE.

which would also show why eth & btc don't cut it in these respects.

It was said that XRPL could not handle all this, BUT

Ripple have now decided to integrate a separate unique XRPL to each individual institution, thus making it more capable for integrating the IOV IOT IOF and many other future incarnations.

Very "Fractal Geometry of Nature"... I like it... I might have to go search through the stacks and reacquaint myself with that book.

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On 4/24/2021 at 5:12 PM, panmores said:

"I am always open to new ideas, I don't rule anything out. It it makes sense for the XRP ecosystem then certainly Ripple would look at that."

I think the meaning here may get lost in translation. This is CEO-speak for saying no without having to actually say no. The meaning isn't in the literal words, but it's clearly there. Politicians also talk like this.

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On 4/24/2021 at 11:09 AM, Spartaksus said:

Well Cortez did very similar thing - burned all his ships during war with Aztecs so his soldiers were more motivated to win without any chance to retreat. Maybe Ripple without escrow will be more motivated to earn money via other revenue streams then selling XRP from bottomless cookie jar Escrow ;) Easy access to money can be distractive for achieving of major goals.

Quite the opposite, the real true gold at the end of the rainbow for Ripple Inc... is to monetize the flow of value through the network. 

I've made the analogy several times.

- Fbook monetizes information flow (ads) through the network 

- Google monetizes traffic flow (search) through the internet(work)

- Railroads monetize material flow (people tickets &/or freight weight) through the rail network

- Telecom monetizes call/data flow through the telecom networks.

I hope you see the pattern. The key point is that if you want to be an infrastructure provider, the most lucrative business model is to "monetize the flow" through the infrastructure that you built. 

For Ripple to get rid of their Escrow/value... they would be crippling their ability to "Charge Interest" on value flowing through XRPL (like fbook & goog giving up ad revenue, or a rail network not charging freight, or telecom giving away free access, or Visa not connecting TX fees).

It's not burning the boats to squelch any thoughts of retreat... its disarming before the battle begins. Full blown strategic dumbassry. Ripple will be bigger that Google, watch.

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12 hours ago, KarmaCoverage said:

Quite the opposite, the real true gold at the end of the rainbow for Ripple Inc... is to monetize the flow of value through the network. 

I've made the analogy several times.

- Fbook monetizes information flow (ads) through the network 

- Google monetizes traffic flow (search) through the internet(work)

- Railroads monetize material flow (people tickets &/or freight weight) through the rail network

- Telecom monetizes call/data flow through the telecom networks.

I hope you see the pattern. The key point is that if you want to be an infrastructure provider, the most lucrative business model is to "monetize the flow" through the infrastructure that you built. 

For Ripple to get rid of their Escrow/value... they would be crippling their ability to "Charge Interest" on value flowing through XRPL (like fbook & goog giving up ad revenue, or a rail network not charging freight, or telecom giving away free access, or Visa not connecting TX fees).

It's not burning the boats to squelch any thoughts of retreat... its disarming before the battle begins. Full blown strategic dumbassry. Ripple will be bigger that Google, watch.

Exactly!!! The problem here is that most don't fully understand that XRP is integral to Ripple's overall business proposition and financial products (i.e. On-Demand Liquidity, Line-of-Credit, etc).

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If at all Court thinks and directs Ripple to burn all 50 B XRP Escrow. It would wise on court and SEC parts to allot some portion of that Escrow to existing retail hodlers who have lost substantially due to SEC action.

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