Topic: Founder of Ripple is announcing he is dumping his XRP. Ripple crashes 35% and st - page 4. (Read 5766 times)

I don't think this was a case of "calculated-risk
just didn't work out".

I think this was a case of "people invested large amounts
relative to their net worth in very speculative investment,
without even really understanding that investment".

So, yes it is sad for some people.... as well as foolish.

 

Fixed.


How so? This occurs all the time in markets.

On the other hand, he just said that in 2 weeks he'll start selling - not how much, not where and not at which price. It might very well be that he will just put in a huge ceiling order and keep the price of XRP below a certain level for the forseeable future. He did not say where this level might be, even if he is stupid brave non-smart enough to announce a sell early, I doubt he'd sell via a market order.

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me...  

I think this was a case of "people motivated by greed invested large amounts
relative to their net worth into a clear pump and dump 100% premined scam without understanding
the investment".

So, yes it is sad for some people.... as well as foolish.

 

Apparently Jed hasn't sold yet.  He just telegraphed to the market that he would begin selling in two weeks.  If this is true, then the market reaction today was in anticipation of the sales and not a result of the sales.  This all seems very strange to me... 

Granted, this was a chicken shit move by the guy that dumped, but just like most everything, it should recover..

These kind of comments are sad to read, especially if the value proposition was never there to begin with.    

But am I missing something?  Is there actually some value proposition to XRP itself that I just can't see?  To me it seems that XRP is a token to facilitate an IOU swap (sort of like a 6 bit colored coin) and that it just needs to have a small but non-zero value to function.  (I'm not debating the argument that a global hawala system might be useful in certain situations but that seems orthogonal to value of XRP).

Granted, this was a chicken shit move by the guy that dumped, but just like most everything, it should recover.. I would consider this a bump in the road. It may take a while to recover, but it most likely will. Like the op said, the only way you lose is if you sell. You can only make that decision, but do your homework and make the best one you can. IMHO, I would weather the storm and in a year or so you wont even remember this, (hopefully)..

Sam,
 
I feel you brother.
 
One thing we all have in common is that this day has been madness.
 
I am assuming you are like me, and invested in XRP because of the future potential.
 
I have been kicking myself all day for some trades I was proud of yesterday, that should I have waited a few hours, would have been 50x more profitable.
 
My trading wallet would have been worth 3x as much as my cold storage vault if I had just held that BTC for another day.
 
As it stands right now, all of our investments are bordering worthless.
 
At the least, they are worth significantly less than when we went to sleep last night.
 
That being said.
 
The only way you guarantee a loss is by selling.  I'm not saying hold onto all of your XRP forever, there are probably some really smart people here who sold everything between .003-.005 and will have an opportunity to buy back in at lower levels.
 
I am not one of them, but I'm sure several have made that move.
 
You have a responsibility to your family first and foremost.  As I do.
 
I am also a family man.  I have 4 children ranging in age from 9 to 2 years old.  
 
Make the choice you think is right, but at the end of the day, I don't think either of us expected XRP to be worth selling today (positive or negative).
 
Think about this - today marks the 4th anniversary of Laszlo Hanyecz buying a pizza for 10,000 bitcoins.  At that time the trade was worth about $25.  Today that would be over 5 million dollars worth of pizza.
 
Ironically, today 10,000 XRP is worth about the same.
 
What will it be worth 4 years from now?
 
How do you want to feel when you find out?
 
There will always be drama, separate yourself from it, or live in it, but don't let it make bad choices for you.
 
An old friend once told me that life is about managing CrapBoats.
 
He used to say "At any given moment, you are either dealing with a boatload of crap, watching one sail away, or watching one sail towards you."
 
It's when you forget that, that they catch you by surprise.
 
 
Stay strong Brother, This too shall pass.
 
 
-D

Yes, exactly.  There is more going on here than we are privy to. 

And, no, this isn't FUD to get the price to drop to buy "cheap coins."  Approximately 80% of the coins are owned by Ripple Labs, and another 9% or so by Jed.  The entire premise that XRPs were a store of value was flawed, even if you believe the ripple concept is useful as a global hawala network. 

@yayayo:
Ripple != XRP

Yes the ledger (equivalent of the blockchain) and all transaction history is unknown prior to ledger 32,570.

Of course there are things like this:
https://bitcointalksearch.org/topic/m.2352658

Yes the ledger (equivalent of the blockchain) and all transaction history is unknown prior to ledger 32,570.

Yes, exactly.  There is more going on here than we are privy to. 

And, no, this isn't FUD to get the price to drop to buy "cheap coins."  Approximately 80% of the coins are owned by Ripple Labs, and another 9% or so by Jed.  The entire premise that XRPs were a store of value was flawed, even if you believe the ripple concept is useful as a global hawala network. 

Anyone want to buy my 30,000 xrp?

If he cared solely about his own money, the way to make the most would be to not tell people in advance.