Not sure why this would affect price at all. It's not like R3 would sell every token instantly.
Ripple regularly releases a billion coins into circulation. Just since the beginning of last September they released over 3 billion more coins. These US legal cases take years sometimes, so likely 10 billion or more will be released before the case is decided. Another 10 billion during the appeal.
If R3 wins the profit is just split between Ripple and R3. No difference. Remember Ripple has billions and billions more of these centralized tokens they plan on releasing anyhow.
Topic: XRP - Ripple Currently being sued for 1 BILLION? - page 3. (Read 2006 times)
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?
This will surely affect XRP's image if the scandal gets bigger. Imagine if other companies will start questioning Ripple's leadership and its decisions. Also if R3 wins the suit I think they will at least dump a part of the coins or all of them actually because overall this could affect XRP as a whole and its credibility, this will be just the drop to start the hehe ripple effect.
R3 is bankster garbage, a conglomerate of the same weasels as always trying to get into the crypto bandwaggon. Ripple was always a scam, I hope that whoever was holding it for some reason, managed to dump during the nonsense pump we saw a while ago and made some killer BTC gains, otherwise you are screwed for the time being and holding a bag of useless coins.
BTC is already recovering after being banned by china for the 1000th time.
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.
With the volatility of crypto, i wouldn't be so sure of that.
Whenever there's extremely bad news coming from a coin, it tanks like crazy. Math rarely correlates well with the reality, which is, if they win the lawsuit, a devaluation of over 13%.
That seems pretty concerning to me, if i would still be holding ripple, and, if i wouldn't have to, wouldn't take it either.
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.
This will surely affect XRP's image if the scandal gets bigger. Imagine if other companies will start questioning Ripple's leadership and its decisions. Also if R3 wins the suit I think they will at least dump a part of the coins or all of them actually because overall this could affect XRP as a whole and its credibility, this will be just the drop to start the hehe ripple effect.
5 billion xrp is a drop in the bucket overall, as long as R3 are not idiots and release all at once to crash the market
I don't think R3 will get all 5 billion xrp either court cases can go on for a long time
I don't think R3 will get all 5 billion xrp either court cases can go on for a long time
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.
ripple trash. is centralize digital currency, not cryptocurrency.
Quote
Ripple is currently being sued by R3, 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,"In September 2016, the two companies entered an agreement giving R3 the right to purchase up to 5 billion XRPs for $0.0085 per unit until September 2019, according to a lawsuit filed by R3 in the Delaware Chancery Court on Friday. "
0.20$ 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's price?
https://www.reuters.com/article/us-r3-ripple-lawsuit/u-s-blockchain-startups-r3-and-ripple-in-legal-battle-idUSKCN1BJ27I?il=0
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