Should I start mining Ripple? How much of it was pre-mined? I'm not going to consider it if over 10% was pre-mined.
100%
Ahh nice, so 100% was not pre-mined?
It's not even mined. It made out of thin air like fiat.
Correct but its math based and the 100 billion created at start is all that will be made. Also, XRP's are destroyed with every transaction so people think of that as its own way of mining...
because magic.
Nah, the protocol started with 100Billion from the start. Maybe people were refused on how much was allocated at the beginning. Like for example, Jed, Chris and Arthur might of received 20 billion, Ripple labs might of received 25 billion, and the rest was put in many of accounts with ideas on how to distribute the remaining 55 billion.
That makes Brenton Woods sound like a tea party.
Here's your new currency. We own it all but if you do our bidding we will grace you with a few.
Yea I totally understand what you mean.... However, atleast now, Chris Larsen says he will donate his whole 7 billion to the underbanked.
https://www.cryptocoinsnews.com/ripple-ceo-chris-larsen-to-donate-7-billion-xrp-to-the-underbanked/
Arthur has some kind of agreement as well, Jed is the rogue millionaire selling $10,000.00 a week till like next August and then selling $20,000.00 a week for the next year after that and way more the year after that in a sick lockup agreement.
yes then they will create another 50Billion XRP to fund more "underbanked" poeple.
