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Final Settlement with Jed


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3 minutes ago, yvv said:

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.

Because Jed isn't stupid, and is a greedy individual like all the rest of us. Would you want to give away your xrp's? 

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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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2 minutes ago, yvv said:

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.

It's pretty simple, they want to control distribution, if Jed had conintued selling mass amounts of XRP at extremely low prices there's no telling who would buy all the XRP and they would have had no control over one or two whales coming in and buying billions of it. Then they have no control over London whale when he decides to crash the market...

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2 minutes ago, yvv said:

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.

And here we all thought you were irrational... :(

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21 minutes ago, 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.. 

It would be awesome "if he" comes in in and dumps a billion xrp onto the market in one big market sell order.  :lol:

Edited by jpchang888
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18 minutes ago, yvv said:

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.

If Jed was to sell his xrps in a few month as you've indicated none of us would have any problem with it.  Ripple wouldn't have any problem either.  The problem is Jed selling slowly to crash xrp price.  With ~10 billion xrp he can kill the price indefinitely..

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23 minutes ago, yvv said:

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.

Do you think existing holders want their investment going almost to zero and maybe never fully recover?

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3 minutes ago, jpchang888 said:

If Jed was to sell his xrps in a few month as you've indicated none of us would have any problem with it.  Ripple wouldn't have any problem either.  The problem is Jed selling slowly to crash xrp price.  With ~10 billion xrp he can kill the price indefinitely..

No, not indefinitely. But for some time for sure. His XRP is arrested now, but he can still manipulate the volume.

 

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8 minutes ago, T8493 said:

Do you think existing holders want their investment going almost to zero and maybe never fully recover?

If Jed would dump all his XRP after announcing his Jedmaggedon, that would be awesome. But as was noted above, he is not that stupid, and his intention is to manipulate the price for some time, which he can still do by manipulating the volume. You guys have a new job of volume police.

 

Edited by yvv
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2 minutes ago, yvv said:

If Jed would dump all his XRP after announcing his Jedmaggedon, that would be awesome. But as jpchang noted, he is not that stupid, and his intention is to manipulate the price for some time, which he can still do by manipulating the volume. You guys have a new job of volume police.

 

Jed co-founded Ripple concept. He was going to get his just due, one way or another. Ripple Labs is just amazingly lucky to have him sign off on this agreement.

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46 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.

 

 

Daily volume is from Ripple charts and Ripple control which gateway's volume is count.

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9 minutes ago, yvv said:

If Jed would dump all his XRP after announcing his Jedmaggedon, that would be awesome. But as jpchang noted, he is not that stupid, and his intention is to manipulate the price for some time, which he can still do by manipulating the volume. You guys have a new job of volume police.

 

I'm thinking ripple will and is more than capable of calculating the percentage of trade volume IOU to XRP based on specific gateways... So regardless of what Jed does, ripple is in control of the XRP and is only going to give him the proper amount. 

AND if Jed wants to take them to court then take him and his silly as trade volume with it

Edited by rippleric
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