Ripple announces XRP lockup, locking up as many as 88% of its current XRP.

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legendary

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Quote from: PanneKopp on May 19, 2017, 12:32:40 AM

Ripple can produce XRP out of thin air,
last time they did it,
was 333 Mil. tokens in january,
so why shouldn´t they "lock" them,
to drive the price up.

Grin

Get your information and details straight. Ripple cannot produce XRP out of thin air. They already created 100 billion XRP from the beginning and released 1/3 of them. If they decide to release more then it will come from the 100 billion they already created not from thin air.

God27

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The 4th industrial revolution!

Quote from: PanneKopp on May 19, 2017, 12:32:40 AM

Ripple can produce XRP out of thin air,
last time they did it,
was 333 Mil. tokens in january,
so why shouldn´t they "lock" them,
to drive the price up.

Grin

Hahaha the last time they "did it" was this week. And it's going to happen again next week, and the week after that. Maybe a lil extra the week of Christmas. You know for some tax writeoffs.

This old and drawnout topic about ripple's distribution of its 100 billion XRP created at the genesis ledger by Jed is like having the birds and the bees conversation with a new kid every day.

Don't ask me for the genesis ledger, i don't have it. Wink

PanneKopp

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aka ...

Ripple can produce XRP out of thin air,
last time they did it,
was 333 Mil. tokens in january,
so why shouldn´t they "lock" them,
to drive the price up.

Grin

bbc.reporter

legendary

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Is the Ripple platform really adequate enough to handle the majority of the banks' transactions? I saw a video on youtube.com that featured Peter Todd, one of the popular contributors in developing bitcoin, say that Ripple has technical limitations and cannot reach consensus efficiently. I will post the video in another thread so that we could all discuss it there.

olubams

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All these strategies from what I can see is a means of desperation and even an open declaration of the manipulation of price which is what is geared towards. If XRP is living up to the hype then controlling the market so openly is not the right way to go and its even a means of short term cushion effect which means I could just decide to dump everything I have own since the artificial scarcity will increase the price per unit.

shyliar

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They have released 2302277383 more ripple since Christmas, likely taking in over 40 million dollars.

December 25, 2016:

http://coinmarketcap.com/historical/20161225/

Today:

http://coinmarketcap.com/

They are keeping 12 percent unlocked representing well over 7 billion ripple that could be released next week. The locks expire regularly with over 1 billion more ripple eligible for release at each unlocking.

Not sure why anyone thinks this is great news.

Spoetnik

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FUD Philanthropist™

This news is a smart play by them.
Will arm the fanboys with something to argue about.
Now that it's already pumped they don't care.. they will freeze it for a while.
Then if the change their mind later.. they can.

They hold all the cards and make all the rules and get all the money.

I am surprised they managed to climb out of the bad rep they started with.
It took them years though with a few new generations coming in to do it.
Luckily for them each new generation that comes in cares less and less about ideology
and more and more about ROI'z.

Which is playing out exactly how Ethereum did.

And so far i have seen the ETH shills come after Ripple.
So we have two horrible bullshit ICO shitcoins battling it out here now.
For greedy profiteer day trader money.

What will happen i have no idea (market price wise) ..it will be amusing i bet though.
There has to be some dumping obviously but how much i don't know.

I would advise traders to be smart.
Don't get greedy.. dump before those whales do (on you)

bbc.reporter

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This also shows the centralization of Ripple. They have just decided how to release the rest of the coins and have shown the they have full control without the need to ask for anyone's suggestions. No community discussion was done. That might be bad because in a worst case scenario they will be able to change the transaction history with out your consent.

Geenstijl

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Founder of Stellar owns 5.3 billion XRP. Very nice coin! Not centralized whatsoever.

https://steemit.com/altcoin/@moneyfornothing/jed-mccaleb-richer-than-satoshi

Feel free to share!

mobnepal

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Quote from: smartbitcoininvestor on May 16, 2017, 11:16:18 PM

Is it a good time to sell XRP?

I have already sold half so that i will not be late to grab all my profit but still holding half of it because despite all the fud around xrp I think it will grow little more before crashing. Charts still looks promising and we may see few more pumps before a series of massive dump.

NaXxow

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ALT Add: APfc4bykKHxYSVkvzsLdQvmiTXvTgMiCRM

It is a well planned strategy, it is easy for them to make such announcement and make another steps in order to win. They already surpassed ETH in just couple of days. I think they scheming something, I hope it is for the better.

xFiber

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Quote from: Spoetnik on May 16, 2017, 12:39:36 PM

Quote from: xFiber on May 16, 2017, 11:31:27 AM

This is great news and I suddenly trust Ripple alot more than I used to. I'm currently going to hoard some ripple for myself. I'm also curious how this will affect the price of ripple since it already has been in a really big uptrend.

This is hilarious. Cheesy

A centralized entity ..a corporation says that and you think it's good ? WOW Roll Eyes

Since they decided to do what ever they want when ever they want.. what is stopping them from uhh
Doing what ever they want when ever they want ? ahhahahhahaha

In other words taking their word for things or trusting them is utterly pointless beyond comprehension.

Bruh.. This was sarcastic as f*ck. I really do dislike ripple and I advise people to stay away from it. Ripple is just the banks adapting to crypto something we should avoid at all costs.

andyatcrux

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Quote from: smartbitcoininvestor on May 16, 2017, 11:16:18 PM

Is it a good time to sell XRP?

Look, XRP could go to 500 Billion marketcap. It is centrally controlled and can be manipulated to great heights. But the higher it goes the more likely FinCEN or the SEC steps in. Ripple already got in trouble with FinCEN and may be violating their agreement. The bottom could drop out any time. Aside from that XRP holds no real value. It isn't even being used by Ripple anymore. https://ripple.com/files/ripple_solutions_guide.pdf

It is sucking the capital out of decentralized projects and it is doing a fantastic job of it. So is it a good time to sell XRP? In my opinion, yes. You may then be able to live up to your "smartbitcoininvestor" namesake. If you stay in XRP maybe you will make a lot more money than you can rename yourself "luckyshitcoingambler" Cheesy

In the end only you can decide what's best for you. Good luck.

smartbitcoininvestor

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Is it a good time to sell XRP?

Serena Yin

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Quote from: ParabellumLite on May 16, 2017, 11:28:47 AM

Link:

http://www.coindesk.com/ripple-pledges-lock-14-billion-xrp-cryptocurrency/

Acchain is China's block chain project called the asset collection chain, it is completely open source assets of the digital platform and tools to let the world's assets flow up to barter.You can go to the official website of the asset chain to see more information.https://www.acchain.org/en/index.html

gentil

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Typical Coindesk propaganda, which part owns Ripple.

Ripple is a huge step backwards for crypto, its bankers wet dream. I'm going to enjoy this big fat Ripple dump

tigershark

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If the coins still exist then they could release them later right? It may help the price now but hurt it later.

bbc.reporter

legendary

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Quote from: ðºÞæ on May 16, 2017, 12:57:40 PM

Its called a Pump and Dump.
Pump it then announce you Dump (release) 1b a month, classical.

Ripple tard will tell you it is normal natural growth.

I will quote the article here in case someone tries to argue against it. Please look at the quote below. This is a signal from the team of Ripple themselves that they will be selling 1 billion XRP a month. The only good I see about it is at least they have made everything transparent to everyone what they want to do. Maybe it is also a needed public announcement to protect themselves from the SEC.

To help give potential future XRP owners certainty that the market won't be flooded with this trove of cryptocurrecy, Ripple built 55 smart contracts using its own escrow feature released for public used in March, each holding 1 billion XRP and expiring on the first day of every month for a period of 54 months.

As each contract expires, the cryptocurrency will briefly become available for Ripple to use as it sees fit.

andyatcrux

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Quote from: vsyc on May 16, 2017, 06:49:59 PM

Quote from: leopard2 on May 16, 2017, 06:39:05 PM

Quote from: yelllowsin on May 16, 2017, 01:01:09 PM

Quote from: ParabellumLite on May 16, 2017, 11:28:47 AM

Link:

http://www.coindesk.com/ripple-pledges-lock-14-billion-xrp-cryptocurrency/

Read between the lines, they are not locking it forever. 1 billion XRP will be available for them each month so they can dump it slowly into the market.

If they can lock, they can unlock

In BTC, it would take the majority of millions of users, to change market cap

Ripple have Admin privileges so they can do what they want; worst case they create XRP 2.0 (perhaps when they get national security letter because Iranian banks own XRP) and abandon the old XRP or something like this. Grin

Or one Jihan Wu saying: "This it, to the BU miners! 51% Attack on BitCoin!". Impressive whole BTC faith in some random Chinese miner Cheesy

ROFL

Wrong topic. Since you bring it up, first they need 51% and even then if most nodes, users, exchanges and infrastructure doesn't follow their chain it essentially becomes an altcoin no different than the hundreds of other Bitcoin clones out there. This is the reality based on sentiment. Financial suicide for Jihan Wu. It is advantageous to threaten a hostile fork, but not viable. What does any of this have to do with XRP?

vsyc

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Quote from: leopard2 on May 16, 2017, 06:39:05 PM

Quote from: yelllowsin on May 16, 2017, 01:01:09 PM

Quote from: ParabellumLite on May 16, 2017, 11:28:47 AM

Link:

http://www.coindesk.com/ripple-pledges-lock-14-billion-xrp-cryptocurrency/

Read between the lines, they are not locking it forever. 1 billion XRP will be available for them each month so they can dump it slowly into the market.

If they can lock, they can unlock

In BTC, it would take the majority of millions of users, to change market cap

Ripple have Admin privileges so they can do what they want; worst case they create XRP 2.0 (perhaps when they get national security letter because Iranian banks own XRP) and abandon the old XRP or something like this. Grin

Or one Jihan Wu saying: "This it, to the BU miners! 51% Attack on BitCoin!". Impressive whole BTC faith in some random Chinese miner Cheesy

ROFL

Topic: Ripple announces XRP lockup, locking up as many as 88% of its current XRP. (Read 2766 times)