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Topic: Jed McCaleb's Exit from Ripple Labs: The Plot Thickens (Read 10027 times)

legendary
Activity: 2618
Merit: 1007
They even paid for a booth at the Bitcoin conference in San Jose. Why would they put up a booth and pay good money for it if they werent planning on people buying into their XRP sham?
Because by trading XRP only you are seriously limiting yourself by using Ripple only as "another Altcoin", not as decentralized exchange and payment network.

Afaik. they set up a gateway in Amsterdam for stroopwaffels (sirup soaked waffles) to demonstrate how Ripple and their instant gateway software works. I'm not sure if they tried to market XRP even as an alternative to BTC, let alone as being superior.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
Ripple Labs has been honest and upfront about the huge amount of XRP they initially kept control of.
They need to be easier for mainstream users or they are doomed, but the "pre-mine" does not make them a scam. In the real-world, companies (CEO's + insiders) commonly control more than 50% of their stock; If anyone wants to claim every listed stock is a "scam", go ahead since you might be accurate enough.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
I'm sure they want to make money off XRP too, so far they are funded without XRP though and will likely stay that way for the forseeable future.

A blog post that I agree with: http://tpbit.blogspot.ca/2014/05/on-death-of-ripple.html

Um they had VC's invest with them...so that they could pull off their XRP premine crap and sell the idea to others. They are not separate. Their investors expect to make a return...how will that happen?

By selling XRP. They even paid for a booth at the Bitcoin conference in San Jose. Why would they put up a booth and pay good money for it if they werent planning on people buying into their XRP sham?
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
Ripple Labs has just unveiled the brand new version of its charting application "Ripple Charts" which you can see here:

http://www.ripplecharts.com/#/

They've got a really amazing team of people working on the public facing components of the payment network. Personally, I have learned a great deal and I have nothing but positive experiences with everyone in the company. They are a great group of folks and a lot of fun to work with!

Now sit around a fire and sing koombaiyah!

lol what a joke.

Mr. Bigg been silent for 2+ months now.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
RIP Ripple.
legendary
Activity: 2618
Merit: 1007
I'm sure they want to make money off XRP too, so far they are funded without XRP though and will likely stay that way for the forseeable future.

A blog post that I agree with: http://tpbit.blogspot.ca/2014/05/on-death-of-ripple.html



Try harder, scammer scum. Roll Eyes
legendary
Activity: 1588
Merit: 1000
In ripple's case, how does Ripple Labs and its investors make money? XRPs seem to be the only logical way.
Certification, integration testing + assistance, consulting, getting paid to develop/prioritize certain features, ready-to-run software/hardware...

The comparison to Red Hat making money from Linux is a bit far fetched, but not a completely unreasonable one.

Their Financial Statements and Tax Filings are in USD...
Which I'm sure are done by an elite Silicon Valley Accounting Firm.

Most of their Real World deals must be in fiat...
XRP is just something Jed invented to facilitate network currency exchange...
And a Shiny Object to sell to idiots in the Crypto World.

Now that Chris is done bitch-slapping the whining dev hoes...
He can go back to pimping the Ripple network to Banks.
vip
Activity: 1316
Merit: 1043
👻
I'm sure they want to make money off XRP too, so far they are funded without XRP though and will likely stay that way for the forseeable future.

A blog post that I agree with: http://tpbit.blogspot.ca/2014/05/on-death-of-ripple.html

legendary
Activity: 2618
Merit: 1007
I'm sure they want to make money off XRP too, so far they are funded without XRP though and will likely stay that way for the forseeable future.

A blog post that I agree with: http://tpbit.blogspot.ca/2014/05/on-death-of-ripple.html
legendary
Activity: 1764
Merit: 1002
In ripple's case, how does Ripple Labs and its investors make money? XRPs seem to be the only logical way.
Certification, integration testing + assistance, consulting, getting paid to develop/prioritize certain features, ready-to-run software/hardware...

The comparison to Red Hat making money from Linux is a bit far fetched, but not a completely unreasonable one.

I don't think Chris realizes how disingenuous he's been about this XRP issue.

All along he's been saying XRP is not the way the company plans to make money. "they're just trading units" he's insisted. Well, what Jesse said...
legendary
Activity: 2618
Merit: 1007
In ripple's case, how does Ripple Labs and its investors make money? XRPs seem to be the only logical way.
Certification, integration testing + assistance, consulting, getting paid to develop/prioritize certain features, ready-to-run software/hardware...

The comparison to Red Hat making money from Linux is a bit far fetched, but not a completely unreasonable one.
legendary
Activity: 1764
Merit: 1002
To all the Ripple pumpers of the last few years, this price crash is EXACTLY what many of us warned of when the founders got around to dumping their XRP. This is precisely the fallacy of a premine.
Ripple != XRP

If you were speculating on my XRP, you were screwed right from the beginning. Seems like some people still did that and they are now ironically getting screwed BIG time by their hero "Jed" who actually was the one who wanted Ripple to be more community credit based than the current direction of becoming SWIFT 2.0... Wink

All this stuff is not why Ripple is cool, it just shows (again) why XRP are a shitty investment.

I think what we're seeing is that it's not enough to create a protocol that is cool or efficient. Being technically possible is not enough. The protocol has to make economic sense as well within the current paradigm of virtual currencies.

In ripple's case, how does Ripple Labs and its investors make money? XRPs seem to be the only logical way. But the way they issued them stands in such stark contrast to what we've learned with Bitcoin such that people don't trust them or think they're being unfair. Unfortunately or not, Bitcoin has set a new standard that is almost impossible to live up to unless you're a pure philanthropist like Satoshi.

That's a serious problem that I for one never saw a good way to reconcile in Ripple's case.
legendary
Activity: 2618
Merit: 1007
To all the Ripple pumpers of the last few years, this price crash is EXACTLY what many of us warned of when the founders got around to dumping their XRP. This is precisely the fallacy of a premine.
Ripple != XRP

If you were speculating on XRP, you were screwed right from the beginning. Seems like some people still did that and they are now ironically getting screwed BIG time by their hero "Jed" who actually was the one who wanted Ripple to be more community credit based than the current direction of becoming SWIFT 2.0... Wink

All this stuff is not why Ripple is cool, it just shows (again) why XRP are a shitty investment.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
Ripple Labs has just unveiled the brand new version of its charting application "Ripple Charts" which you can see here:

http://www.ripplecharts.com/#/

They've got a really amazing team of people working on the public facing components of the payment network. Personally, I have learned a great deal and I have nothing but positive experiences with everyone in the company. They are a great group of folks and a lot of fun to work with!

You have been awfully quiet on this forum.

But here is more info for the kiddies that proved what I suspected would happen all along even way back a year ago when you called me a troll for calling ripple a scam....now look...

http://www.reddit.com/r/Ripple/comments/26ccz3/ripple_board_member_resigns/
Quote
Hey ya'll. Jesse from Kraken here.
Today I have submitted my resignation from the Board of Ripple Labs. While I care about the people who work there and I wish the company the best, I cannot personally continue to support the business.
I believe that the technology and the protocol hold great promise, and have since the beginning, which is why I was the company’s first investor. Since Jed's departure, the management of the company has taken a different direction. Sadly, the vision Jed and I had for the project in the early days has been lost. I’m no longer confident in the management nor the company’s ability to recover from the founders’ perplexing allocation to themselves of 20% of the XRP, which I had hoped until recently would be returned. Prior to Jed's departure from Ripple, I had asked the founders to return their XRP to the company. Jed agreed but Chris declined—leaving a stalemate. This afternoon, I revisited the allocation discussion with the pair and again, where Jed was open, Chris was hostile.
As an investor, of course, I hope that Ripple Labs will overcome its hurdles and prove my lack of confidence misplaced. Unfortunately, unlike the founders, I don’t have swathes of XRP to dump if I don't think it's working out.
vip
Activity: 1316
Merit: 1043
👻
To all the Ripple pumpers of the last few years, this price crash is EXACTLY what many of us warned of when the founders got around to dumping their XRP. This is precisely the fallacy of a premine.

legendary
Activity: 1876
Merit: 1000
To all the Ripple pumpers of the last few years, this price crash is EXACTLY what many of us warned of when the founders got around to dumping their XRP. This is precisely the fallacy of a premine.

More the fact in cryptos most, across the board, seem to be very ignorant of how big a number a billion really is.
legendary
Activity: 1764
Merit: 1002
To all the Ripple pumpers of the last few years, this price crash is EXACTLY what many of us warned of when the founders got around to dumping their XRP. This is precisely the fallacy of a premine.
legendary
Activity: 1769
Merit: 1032
Value will be measured in sats


hero worship aside...the guy is acting like a dick...he destroyed the ripple price by about 60% with his announcement of selling 118% of ripple coins in existence...

He could've sold them first without telling you.

doesn't really make much difference if he did or did not to be honest...the price is crashing now and it will crash again when he finally unloads all (if he does it as an open sale on the market).

He also could have locked up the ripple indefinitely and put an end to the controversy of this 20% holdings BS.

However it seems like CL doesn't want to let his 32 million usd go...

The question is...will Jed and Chris come to an agreement and stop this epic dump from happening
legendary
Activity: 1764
Merit: 1002
don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.

i tried to scrape up the video of that plunge but no success.  i remember being right there when it happened.  one of the most dramatic things i've ever seen realtime.

The video is on YouTube channel "TheBitcoinChannel".

hero worship aside...the guy is acting like a dick...he destroyed the ripple price by about 60% with his announcement of selling 118% of ripple coins in existence...

He could've sold them first without telling you.
legendary
Activity: 1458
Merit: 1006
http://www.reddit.com/r/Ripple/comments/26ccz3/ripple_board_member_resigns/

Quote
Hey ya'll. Jesse from Kraken here.
Today I have submitted my resignation from the Board of Ripple Labs. While I care about the people who work there and I wish the company the best, I cannot personally continue to support the business.

I believe that the technology and the protocol hold great promise, and have since the beginning, which is why I was the company’s first investor. Since Jed's departure, the management of the company has taken a different direction. Sadly, the vision Jed and I had for the project in the early days has been lost. I’m no longer confident in the management nor the company’s ability to recover from the founders’ perplexing allocation to themselves of 20% of the XRP, which I had hoped until recently would be returned. Prior to Jed's departure from Ripple, I had asked the founders to return their XRP to the company. Jed agreed but Chris declined—leaving a stalemate. This afternoon, I revisited the allocation discussion with the pair and again, where Jed was open, Chris was hostile.

As an investor, of course, I hope that Ripple Labs will overcome its hurdles and prove my lack of confidence misplaced. Unfortunately, unlike the founders, I don’t have swathes of XRP to dump if I don't think it's working out.
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