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Sarphir

Help me to unterstand the escrow

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I have a question about the escrow, i dont really unterstand exactly.

So Ripple puts 55billion xrps away and will (lets say) "open" 1 Billion XRP per month with beginning at january 2018 every month. Am I correct with that?

My question i have, when do they put them away? In the end of 2017? or is it now with june?

 

Thanks

Greets :-)

Edited by Sarphir

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4 minutes ago, Sarphir said:

My question i have, when do they put them away? In the end of 2017? or is it now with june?

I think they didn't release an official ETA.

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7 minutes ago, Sarphir said:

Because in some article it is written with June and in other its written with end of the year

It's end of year 2017 in their official announcement.

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Guest Dizer
Just now, stuffie said:

And will they sell 1B each month, or give away 1B each month?

FUD as always! Find something better to do with your time.

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4 minutes ago, stuffie said:

And will they sell 1B each month, or give away 1B each month?

 

They will free 1B XRP each month. Then it's up to Ripple to decide how to use them. The unspent XRP each month will be put back in the escrow according to their announcement.

As historical data, they were selling 300M per month, but the price was much lower. 

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First off, each month a smart contract will open on the 1st of the month, ripple will then have access to 1 billion xrp for that month, ripple can use that 1 billion xrp, to sell to banks, exchanges, etc. On the last day of that month, all remaining xrp will then go back and be locked up in another smart contract, starting the process all over again. Ripple is selling on average 300 million xrp a month right now, that level may stay the same or increase as demand increases, but 1 billion xrp a month will most likely not come onto the market each month.

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2 minutes ago, tulo said:

En tant que données historiques, ils vendaient 300M par mois, mais le prix était beaucoup plus bas. 

Now is 100 M... 

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On 5/30/2017 at 8:34 AM, tulo said:

They will free 1B XRP each month. Then it's up to Ripple to decide how to use them. The unspent XRP each month will be put back in the escrow according to their announcement.

As historical data, they were selling 300M per month, but the price was much lower. 

Hi tulo,

Is there any way we can easily see that historical data other than the graph on their public announcement? And where are they selling exactly? Bitstamp? Poloniex? Directly to their contacts?

One question I have about the escrow is the "smart contract" thing. If I understand correctly what I read on wikipedia about  a smart contract, it is a "computation that takes place on a blockchain or distributed ledger". So I'm wondering what are the guarantees of such smart contracts? If they change their mind along the way is there anything preventing Ripple Labs themselves to just change the initial plan? Can such "smart contracts" be hacked like it happen in the DAO case? Who created those escrow smart contracts exactly, Ripple Labs themselves?

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