Topic: XRP - Ripple Currently being sued for 1 BILLION? - page 2. (Read 2006 times)
If this was true then good thing I sold all my ripple coins a couple months ago, and I already did profit from it too. Never seen new updates of ripple these past few months too so i thought of getting rid of this coin than be on loss in trading.
I don't know how recent this news is! I have search and google to see at least a link to a source of which I'm yet to get! Ripple is centralized and many people n crypto community do not like it including myself! We will see how this turn out and if there is a profit to be made, we will take it
I am a believer in XRP and a long holder. It's one of my best Crypto investments. I am predicting $1.5 by 2018
How do you come up with your estimate of $1.5? I own some as well and would love that, I just don't see any catalyst to push it that high that quickly.
I am a believer in XRP and a long holder. It's one of my best Crypto investments. I am predicting $1.5 by 2018
Ripple is a great coin, even when everyone accuses it that is centralized.
They aim quite soon to make it fully decentralized! Investigate before accusing.
It will have great future even if almost everyone hates it.
Ripple does have a purpose whenever someone mentions Bitcoin or Blockchain. They are working with people that will help Bitcoin get secure. They aim quite soon to make it fully decentralized! Investigate before accusing.
It will have great future even if almost everyone hates it.
Ripple is trash, a currency that is not decentralized is the same with fiat, the organization that controls it, can create as much as want, or disappear in a night.
your knowledge is trash, and you should disappear in a night. each node maintains it's own validator list managed by independent third parties. their protocol is also based on consensus and cannot be changed.
I wouldn't be surprised if more informations like this were to come out.
you're an idiot, and the lawsuit was thrown out because R3 didn't meet its obligations
https://twitter.com/bgarlinghouse/status/918876945806327808
Ripple is definitely what I call a shitcoin. Apparently dishonnest team and not even a decentralized coin...
I wouldn't be surprised if more informations like this were to come out.
I wouldn't be surprised if more informations like this were to come out.
Ripple is trash, a currency that is not decentralized is the same with fiat, the organization that controls it, can create as much as want, or disappear in a night.
Ripple is a great coin, even when everyone accuses it that is centralized.
They aim quite soon to make it fully decentralized! Investigate before accusing.
It will have great future even if almost everyone hates it.
They aim quite soon to make it fully decentralized! Investigate before accusing.
It will have great future even if almost everyone hates it.
This story is not new! If you investigate it further you will see that they will not be getting the 1Billion Tokens since they bridge their agreement prior.
It is funny since this kind of post on Bitcointalk appears the day that Ripple price increases, is this a coincidence?
It is funny since this kind of post on Bitcointalk appears the day that Ripple price increases, is this a coincidence?
XRP wasn't a stable coin.. now it has come to an end
I'm glad to have sold all my XRP since I didn't see it doing anything in the future which might justify a substantial price increase. These news only confirm my suspicions.
Ripple is currently being sued by R3, which is the creator of "Corda", because their contract has been wrongfully terminated.
"In September 2016, the two companies entered an agreement giving R3 the right to purchase up to 5 billion XRPs for $0.0085 per unit until September 2019, according to a lawsuit filed by R3 in the Delaware Chancery Court on Friday. "
Which is calculated,
0.20$ a share x 5 billion = 1Billion$, with a profit of 1B$ - 42.5Million$ (0.0085$ a share x 5 billion) = 957.5 million dollars pure profit.
How is this going to affect XRP?
https://www.reuters.com/article/us-r3-ripple-lawsuit/u-s-blockchain-startups-r3-and-ripple-in-legal-battle-idUSKCN1BJ27I?il=0
It's really simple:
5bil (owned to R3) / 38.34bil (total supply) = 13%
So in worst case, we can expect 13% price fall, or 0% if lawsuit fails.
If we assume chance of lawsuit succeeding is 75%, then we can expected (13% * 0.75 + 0% * 0.25) = 9.75% price fall.
Woah - R3 were entitled to 13% of the whole supply?!
I really really don't understand why anyone invests in Ripple - it's all concentrated, they keep promising real life uses but nobody ever uses Ripple. What is the point?
for the losers speaking on xrp without any clue as to what's actually happening, and why...
(from xrpchat.com, via member "rip")
Ripple tried to cancel the agreement in June in emails from CEO Brad Garlinghouse to Ripple CEO David Rutter, R3, however, rejected the requests. With XRP soaring more than 4000% this year, trading now around $0.20 USD, this makes the options worth roughly $1 billion.
Ripple is asserting that R3 has yet to deliver on its end of the contract in which Ripple would benefit from R3’s banking partnerships, thus exercising the options wouldn’t be authorized.
A Ripple spokesperson wrote, “Our filing is straightforward — R3 misrepresented their ability and intent to deliver on their commitments. Given XRP’s 4000% increase over the course of the year, R3 suddenly wants to tap into the value of XRP, though the facts are clear that they did not earn any option based on our agreement.”
(from xrpchat.com, via member "rip")
Ripple tried to cancel the agreement in June in emails from CEO Brad Garlinghouse to Ripple CEO David Rutter, R3, however, rejected the requests. With XRP soaring more than 4000% this year, trading now around $0.20 USD, this makes the options worth roughly $1 billion.
Ripple is asserting that R3 has yet to deliver on its end of the contract in which Ripple would benefit from R3’s banking partnerships, thus exercising the options wouldn’t be authorized.
A Ripple spokesperson wrote, “Our filing is straightforward — R3 misrepresented their ability and intent to deliver on their commitments. Given XRP’s 4000% increase over the course of the year, R3 suddenly wants to tap into the value of XRP, though the facts are clear that they did not earn any option based on our agreement.”
Great insight, that's very interesting. This would mean that R3 probably won't get their 13%, which is positive news for XRP.
Maybe Ripple do not want to give R3 anymore the coins because they know it can worth more than that. Though Ripple is at fault in my opinion, I do not know what will be effect or the impact on the XRP coins. In addition to that, the China issues banning some cryptocurrency.
But many experts are predicting that XRP will be more in coming days, in background team is working very hard in the different parts of the country to provide a good facility for banking sectors throughout the world wide.
That is surely very bad news, that will make ripple's price go down. I guess its their right to get those coins at very cheap price. They made agreements and it needs to be fullfilled. I really dislike Ripple.
Ripple is currently being sued by R3, which is the creator of "Corda", because their contract has been wrongfully terminated.
"In September 2016, the two companies entered an agreement giving R3 the right to purchase up to 5 billion XRPs for $0.0085 per unit until September 2019, according to a lawsuit filed by R3 in the Delaware Chancery Court on Friday. "
Which is calculated,
0.20$ a share x 5 billion = 1Billion$, with a profit of 1B$ - 42.5Million$ (0.0085$ a share x 5 billion) = 957.5 million dollars pure profit.
How is this going to affect XRP?
https://www.reuters.com/article/us-r3-ripple-lawsuit/u-s-blockchain-startups-r3-and-ripple-in-legal-battle-idUSKCN1BJ27I?il=0
It's really simple:
5bil (owned to R3) / 38.34bil (total supply) = 13%
So in worst case, we can expect 13% price fall, or 0% if lawsuit fails.
If we assume chance of lawsuit succeeding is 75%, then we can expected (13% * 0.75 + 0% * 0.25) = 9.75% price fall.
Woah - R3 were entitled to 13% of the whole supply?!
I really really don't understand why anyone invests in Ripple - it's all concentrated, they keep promising real life uses but nobody ever uses Ripple. What is the point?
for the losers speaking on xrp without any clue as to what's actually happening, and why...
(from xrpchat.com, via member "rip")
Ripple tried to cancel the agreement in June in emails from CEO Brad Garlinghouse to Ripple CEO David Rutter, R3, however, rejected the requests. With XRP soaring more than 4000% this year, trading now around $0.20 USD, this makes the options worth roughly $1 billion.
Ripple is asserting that R3 has yet to deliver on its end of the contract in which Ripple would benefit from R3’s banking partnerships, thus exercising the options wouldn’t be authorized.
A Ripple spokesperson wrote, “Our filing is straightforward — R3 misrepresented their ability and intent to deliver on their commitments. Given XRP’s 4000% increase over the course of the year, R3 suddenly wants to tap into the value of XRP, though the facts are clear that they did not earn any option based on our agreement.”
(from xrpchat.com, via member "rip")
Ripple tried to cancel the agreement in June in emails from CEO Brad Garlinghouse to Ripple CEO David Rutter, R3, however, rejected the requests. With XRP soaring more than 4000% this year, trading now around $0.20 USD, this makes the options worth roughly $1 billion.
Ripple is asserting that R3 has yet to deliver on its end of the contract in which Ripple would benefit from R3’s banking partnerships, thus exercising the options wouldn’t be authorized.
A Ripple spokesperson wrote, “Our filing is straightforward — R3 misrepresented their ability and intent to deliver on their commitments. Given XRP’s 4000% increase over the course of the year, R3 suddenly wants to tap into the value of XRP, though the facts are clear that they did not earn any option based on our agreement.”
Ripple is currently being sued by R3, which is the creator of "Corda", because their contract has been wrongfully terminated.
"In September 2016, the two companies entered an agreement giving R3 the right to purchase up to 5 billion XRPs for $0.0085 per unit until September 2019, according to a lawsuit filed by R3 in the Delaware Chancery Court on Friday. "
Which is calculated,
0.20$ a share x 5 billion = 1Billion$, with a profit of 1B$ - 42.5Million$ (0.0085$ a share x 5 billion) = 957.5 million dollars pure profit.
How is this going to affect XRP?
https://www.reuters.com/article/us-r3-ripple-lawsuit/u-s-blockchain-startups-r3-and-ripple-in-legal-battle-idUSKCN1BJ27I?il=0
It's really simple:
5bil (owned to R3) / 38.34bil (total supply) = 13%
So in worst case, we can expect 13% price fall, or 0% if lawsuit fails.
If we assume chance of lawsuit succeeding is 75%, then we can expected (13% * 0.75 + 0% * 0.25) = 9.75% price fall.
Your mathematics is genius
, had a good laugh .13% thrown in the market at once will crash it to 1 satoshi.
Also, how about a nice conspiracy theory? What if behind R3 are also Ripple's creators, and they do it on purpose for nice exit scam? Or what if they intentionally broke the contracts conditions in order to exit with millions/billions?
Thank you for your useful contribution to this conversation
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