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Final Settlement with Jed


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https://forum.ripple.com/viewtopic.php?f=1&t=15885   One boogieman less.

This was a business decision. This move doesn't have much to do with controlling the short term price of XRP. The reality is that you can't convince MMs to come into the market when such a large

I agree, Ripple has spent at least a million dollars in this case with Jed. I would imagine they were VERY thorough in making sure the new arrangement was watertight. 

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8 minutes ago, rippledigital said:

That's still an insane amount of XRP he holds but I guess this is better than nothing

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What I like about it is he doesn't hold it. Ripple does.

All of Jed and his children's remaining XRP, approximately 5.3 billion XRP, will be placed in a custody account at Ripple

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Sounds like Jed got a good deal. Now he can issue some crappy IOUs and boost daily volume to the moon by trading billions of XRP to himself for these IOUs. Sounds like the problem is solved. Jed is finally allowed to sell his XRP at a pace which is comfortable for him.

 

 

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4 minutes ago, yvv said:

Sounds like Jed got a good deal. Now he can issue some crappy IOUs and boost daily volume to the moon by trading billions of XRP to himself for these IOUs. 

Why do you think settlement agreement doesn't have clauses that cover this obvious manipulation?

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3 minutes ago, yvv said:

Sounds like Jed got a good deal. Now he can issue some crappy IOUs and boost daily volume to the moon by trading billions of XRP to himself for these IOUs. Sounds like the problem is solved. Jed is finally allowed to sell his XRP at a pace which is comfortable for him.

 

 

We will have a two week lead time to spot any craziness and take action before his portion gets listed and he will end up with less.. This will remove everyone's concern that he will come in and dump a billion xrp at once.. 

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Just now, MundoXRP said:

We will have a two week lead time to spot any craziness and take action before his portion gets listed and he will end up with less.. This will remove everyone's concern that he will come in and dump a billion xrp at once.. 

I don't really understand, why you want to bother with this instead of just letting the bastard to sell all of his XRP as he promised? Yes, you would have temporary price fall. But you would be able to buy dirt cheap XRP, and Jed problem would be solved forever in few month, instead of 10 years. Making agreements with Jed, which he can easily violate, is really irrational.

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9 minutes ago, yvv said:

Because I don't see them the cited quote.

Jed doesn't have XRPs anymore and he can't sell XRPs anymore (more than X percentage). He can trade his IOUs, but he can't create more than X percentage of XRP trade volume with his fake trades.

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All of Jed and his children's remaining XRP, approximately 5.3 billion XRP, will be placed in a custody account at Ripple.

 

Edited by T8493
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