Topic: XRP = CENTRALIZED blockchain under control of banks = 0 cryptospirit (Read 211 times)

How XRP distribution works ..

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Ripple Escrows 55 Billion XRP for Supply Predictability

Earlier this year, we committed to placing 55 billion XRP in a cryptographically-secured escrow account to create certainty of XRP supply at any given time. As promised, today we completed the lockup.

By securing the lion’s share of XRP in escrow, people can now mathematically verify the maximum supply that can enter the market. While Ripple has proved to be a responsible steward of XRP supply for almost five years – and has clearly demonstrated a tremendous track record of investing in and supporting the XRP ecosystem – this lockup eliminates any concern that Ripple could flood the market, which we’ve pointed out before is a scenario that would be bad for Ripple!

This move underscores Ripple’s commitment to building XRP liquidity and a healthy and trusted market. Long term, the value of digital assets will be determined by their utility. XRP has emerged as the only digital asset with a clear institutional use case designed to solve a multi-trillion dollar problem – the global payment and liquidity challenges that banks, payment providers and corporates face.

Unlike other digital assets purely driven by unexplained speculation, real institutional customers are already using and finding value in XRP, and governments, regulators and central banks are increasingly recognizing the role it could play in the global system.

XRP goes beyond what Bitcoin does well — a store of value — and delivers transaction speed and throughput that is orders of magnitude faster than BTC or ETH. While other digital assets continue to bump against their transaction limits, XRP remains the fastest, most efficient and most scalable digital asset in the world – making it the best digital asset for payments. It’s no surprise that institutions are looking to XRP to provide much-needed on-demand liquidity for cross-border payments.

Here’s how the escrow works:

The Escrow feature in the XRP Ledger allows parties to secure XRP for an allotted amount of time or until specific conditions are met. For example, Escrow allows a sender of XRP to put conditions on exactly when a payment can be completed, so the payment remains cryptographically locked until the due date.

We use Escrow to establish 55 contracts of 1 billion XRP each that will expire on the first day of every month from months 0 to 54. As each contract expires, the XRP will become available for Ripple’s use. You can expect us to continue to use XRP for incentives to market makers who offer tighter spreads for payments and selling XRP to institutional investors.

We’ll then return whatever is unused at the end of each month to the back of the escrow rotation. For example, if 500M XRP remain unspent at the end of the first month, those 500M XRP will be placed into a new escrow account set to expire in month 55. For comparison, Ripple has sold on average 300M XRP per month for the past 18 months.

Ripple’s vision remains the same – to enable the Internet of Value in which money moves like information moves today – and XRP is at the heart.

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WasTriffin ..

55 billion belongs to them, and every month they can sell 1 billion coins, what did I miss?

In case you missed it:
Ripple own only about 6 billion XRPs. 55 billion is locked down on escrows behind strict rules that doesnt allow Ripple to pay their employees or get rich.
The rest is open for purchase by anyone on the open market.

So in reality, Ripple only have funds worth $14B at the moment that they can freely spend. Which is very little compared to many big companies.

I know all that, but who's to blame but a few gigantic mining farms owned by small number of people (centralisation!) that reject all ideas to solve that because, you know,
they earn big from high fees

Ripple is bigger than BTC already - check the max supply of Ripple and calculate the price. Most of the supply belongs to the foundation btw.

Not to mention that Ripple is far to superior to Bitcoin in terms of selling and buying. Its instant on XRP but take forever with Bitcoin

Maybe those people you've said shifted on XRP are been disgusted for the high miner fee's per transaction thats why you could see the price and volume of XRP burst, And if you don't like how the platform of xrp works then you must avoid with it since there are so many people are enjoying the current pumping style happening for that coin. And although its centralized people doesn't really think for that for now since the one got their attention is the current jumping happening on XRP.

If Ripple structure upsets you, dont use it.  You can still use Bitcoin, accepting the fees etc., or another crypto currency.  

Or is this really about the fear that Ripple might become worth more than Bitcoin, rather than the use of crypto?

Wrong
Wrong
Wrong

Go educate yourself. Ripple is decentralized and is more decentralized than Bitcoin or Ethereum.

Bitcoin can be wrecked by a 51% attack. That is impossible on Ripple.

There is a big reason why people are buying XRP instead of Bitcoin. That is one of the reasons. Its more safe than Bitcoin


https://ripple.com/dev-blog/decentralization-strategy-update/

Imperialism and the banks again won. It does not reflect the spirit of the crypto market, XRP.

First the bankers too all the tax payers money for a bank bailout, and now they are taking money from the crypto world! I guess i this world there are scammers and those who just want to make a fast buck regardless of where the money goes

The banks are winning again huh. Oh I guess the humanity's hope is gone. People only want profit.

thanks for your response.. my lack regarding technical issues of blockchain is huge.. i will take a look

People don't give a damn for what it is used for and who runs is as long as they see that they can flip money. Mark my words. They see ripple is working with banks thats the way to go let's put our money there! It was always like this and will be - until crypto currency breaks this barrier of being seen as pure speculative asset rather than an everyday currency.


Fee is not the problem with miners , look at your activity on this forum! You should know why this is and what are options.... just simply google and you will understand LN - Ligthing Network- Segwit , Bitcoin Cash fork and other things

Fee is a result of block sized and how fast they can be made - its the problem with capacity, scalling bitcoin is needed and there are proposals - LN is just taking slower.

Agreed.  

I smell buttcorn fear
Ripple is soo bad
Quick lets open many threads on reddit butcorntalk and /biz to tell people how bad it is. Our buttcorn is best for people not xrp. Ripple bad.

Lmao

Maybe ask BTC miners to lower fees?

well we cant do nothing about it.. only ignore and not invest in it and not support it

Money have been shifting from BTC to XRP..already reached100B $!. thiscould be dangerous?  As XRP is antichrist..mmm.. anticrypto i meant.. XRP = traditional centralized banks..the blockchain  is just centralized and run by banks (same dog, different necklace).. some kind of paypal version 3.0.. probably we would be again under control of banks and subsequently.. goverments. I understand earning profit is very tempting, but i wont throw a penny in XRP.  This would go against the essence of Satoshis Nakamoto basics..

What do you think? In advance... dont blame me for my opinion..  just be consructive please