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D-fault123

Final Settlement with Jed

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16 minutes ago, kanaas said:

 

Not so sure as it seems that they forgot to layout the limits of possible IOUs to be used for trading volume counting. This leaves the door legally and wide open to screw the deal. And as we all now know his low level and greedy behavior....

I don´t think that will be a problem, but we will see. I think ppl should give a little more credit to Ripple. They have a very professional team. Those situations must be covered imo. I even think this is a very bullish news. Not only we "get rid"  of Jed´s billions but even because this proves that Jed is very confident that volume and value will go up over time. Otherwise, he would be stuck with his XRP´s for ever. I think the market will correct it self in the couple weeks. This was one, if not the major, issue keeping xrp price under 1 cent. This value is completely off of Ripple and XRP progress and news for the past 18 months

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6 minutes ago, seve7ete said:

I don´t think that will be a problem, but we will see. I think ppl should give a little more credit to Ripple. They have a very professional team. Those situations must be covered imo. I even think this is a very bullish news. Not only we "get rid"  of Jed´s billions but even because this proves that Jed is very confident that volume and value will go up over time. Otherwise, he would be stuck with his XRP´s for ever. I think the market will correct it self in the couple weeks. This was one, if not the major, issue keeping xrp price under 1 cent. This value is completely off of Ripple and XRP progress and news for the past 18 months

You might be right, but I think it's odd that they cannot or not want to explain how this is covered. Not here and not on the official forum where the same question has been put by other posters as well. Keeping silent on, what I see as a highly relevant question, means for me that the chances are very high that it is not covered....

 

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12 minutes ago, kanaas said:

You might be right, but I think it's odd that they cannot or not want to explain how this is covered. Not here and not on the official forum where the same question has been put by other posters as well. Keeping silent on, what I see as a highly relevant question, means for me that the chances are very high that it is not covered....

 

I think their post was just for communication purposes. We always complain about the lack of it. Let´s not complain about the kind, quantity and quality of it too.  I see it as just a post in a forum. I even think that it is very detailed about some of the terms. I guess that the agreement is probably huge and with a lot of pages and clauses. After spending a little fortune in legal fees, it would make no sense that, the information in that post, would be everything the arrangement is based on.  I really think they covered things that could happen in the future that we didn´t even think about them yet. But maybe i´m way off here. Idk, just my opinion

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2 minutes ago, seve7ete said:

I think their post was just for communication purposes. We always complain about the lack of it. Let´s not complain about the kind, quantity and quality of it too.  I see it as just a post in a forum. I even think that it is very detailed about some of the terms. I guess that the agreement is probably huge and with a lot of pages and clauses. After spending a little fortune in legal fees, it would make no sense that, the information in that post, would be everything the arrangement is based on.  I really think they covered things that could happen in the future that we didn´t even think about them yet. But maybe i´m way off here. Idk, just my opinion

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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Can someone kindly explain to me how this will work in practice. For example, do Ripple calculate the "allowed" amount and send this to Jed to do with as he wishes on a weekly basis?

Presumably, if this is the case, he could accumulate a year's worth and then dump it out in 1 day or even one hour?

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26 minutes ago, WaltDangerfield said:

So based on a $5bn per day volume he can cash out $25m per day in XRP.

i suspect he isn’t too unhappy about this, especially of the daily volume and value increases!

Not exactly sure where they are going to get the volume number from but I suspect it is much less than the 5BN you quote.

Settlement says (re. volume): "this definition excludes XRP traded on third party exchanges"

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I was just going off of some of the recent volumes we’ve been seeing and increasing slightly due to forecasted adoption.

last 7 days has been about $18bn, so around 2.5bn per day. Jed would have been able to cash in $12.5m a day for the last 7 days. Still pretty, pretty good.

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1 hour ago, bm32533476 said:

On the traded volume of XRP on that specific exchange. If you dig back into the older articles that I think have been linked here already, there should be more details.

No, that is not correct. Here is the text from the details posted onthe Ripple forum:

"Weekly XRP Trade Volume is defined as the total amount of XRP traded on the Ripple consensus ledger during a given week."

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1 minute ago, RippleHerToShreds said:

"Weekly XRP Trade Volume is defined as the total amount of XRP traded on the Ripple consensus ledger during a given week."

Off-ledger trading is the majority of trading today. I think the largest on-ledger XRP market is XRP to USD/Bitstamp and it's the 41th largest XRP market.

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