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General Discussion / Re: ripple rally
« on: December 16, 2014, 08:07:33 pm »
Here is a quote from https://ripple.com/ripple_primer.pdf
page 12.
I guess they haven't started giving XPR away yet.
Neither have Chris Larsen of Ripple Labs (www.youtube.com/watch?v=_SpdX36p6ao#t=3m49s)
started donated 7 billion XRP to the underbanked.
https://www.cryptocoinsnews.com/ripple-ceo-chris-larsen-to-donate-7-billion-xrp-to-the-underbanked/
Apparently, he made that pledge after
Jesse Powell ( http://www.youtube.com/watch?v=gCQXSqmugtE)
founder and CEO of Kraken, resigned from the Ripple Labs board of directors
with the following comments
https://www.cryptocoinsnews.com/ripple-board-member-jesse-powell-resigns-wake-founder-sell/
A few more of Jesse's comments:
https://www.cryptocoinsnews.com/jesse-powells-fiery-response-to-ripple-labs-accusations/
Here is Jed McCaleb presenting Stellar
http://www.youtube.com/watch?v=h-rr_iA3Qog (made eDonkey, made MtGox sold to the guy in Japan,
founded Ripple)
It's a small world, isn't it? When are they going to drop their billions of XRP on it?
The response from the Ripple Labs
https://www.cryptocoinsnews.com/ripple-drama-continues-company-sends-cease-desist-letter-former-board-member-jesse-powell/
Ripple labs team:
https://www.ripplelabs.com/team/
Edit: typos, quotes
page 12.
Quote
Ripple Labs hopes to make money from XRP if the world finds the Ripple network
useful and broadly adopts the protocol.
100 billion XRP was created with the Ripple protocol. Ripple Labs plans to gift
55 billion XRP to charitable organizations, users, and strategic partners in the
ecosystem over time. The company will retain a portion with the hope of crating a
robust and liquid marketplace in order to monetize its only asset sometime in the
future.
I guess they haven't started giving XPR away yet.
Neither have Chris Larsen of Ripple Labs (www.youtube.com/watch?v=_SpdX36p6ao#t=3m49s)
started donated 7 billion XRP to the underbanked.
https://www.cryptocoinsnews.com/ripple-ceo-chris-larsen-to-donate-7-billion-xrp-to-the-underbanked/
Apparently, he made that pledge after
Jesse Powell ( http://www.youtube.com/watch?v=gCQXSqmugtE)
founder and CEO of Kraken, resigned from the Ripple Labs board of directors
with the following comments
https://www.cryptocoinsnews.com/ripple-board-member-jesse-powell-resigns-wake-founder-sell/
Quote
I believe that the technology and the protocol hold great promise,
and have since the beginning, which is why I was the company’s first
investor. Since Jed’s departure, the management of the company has
taken a different direction. Sadly, the vision Jed and I had for the
project in the early days has been lost.
I’m no longer confident in the management nor the company’s ability
to recover from the founders’ perplexing allocation
to themselves of 20% of the XRP, which I had hoped until recently
would be returned. Prior to Jed’s departure from Ripple,
I had asked the founders to return their XRP to the company.
Jed agreed but Chris declined—leaving a stalemate.
This afternoon, I revisited the allocation discussion
with the pair and again, where Jed was open, Chris was hostile.
A few more of Jesse's comments:
https://www.cryptocoinsnews.com/jesse-powells-fiery-response-to-ripple-labs-accusations/
Quote
Jed and I got started with Ripple in September of 2011.
I believe Chris joined sometime around August of 2012.
Prior to Chris joining, the company had two investors.
I’m not sure when Jed and Chris allocated themselves the XRP
but they say it was before incorporation, which occurred in September of 2012.
In my view, the two stole company assets when they took the XRP without approval of the
early investors, and without sharing the allocation amongst the other shareholders.
Whatever coin they allocated themselves prior to incorporation of Opencoin, Inc.
[Author’s Note: Opencoin later became Ripple], I believe was abandoned.
There had been several ledger resets between Sep 2012 and Dec 2012, and
a new version of Ripple emerged, built by Opencoin, Inc., clearly with company resources.
If Jed and Chris have continued to run the old software to preserve their Betacoin,
I have no problem. Unfortunately, Jed and Chris again allocated themselves XRP
in December of 2012. That XRP unquestionably was not gifted by Jed and Chris
to the company, it did not exist prior to the company’s existence, and
it was generated with company resources. That XRP has always belonged to the
company and it was taken from the company by Jed and Chris. I’m asking them to return what they’ve stolen.
Here is Jed McCaleb presenting Stellar
http://www.youtube.com/watch?v=h-rr_iA3Qog (made eDonkey, made MtGox sold to the guy in Japan,
founded Ripple)
It's a small world, isn't it? When are they going to drop their billions of XRP on it?
The response from the Ripple Labs
https://www.cryptocoinsnews.com/ripple-drama-continues-company-sends-cease-desist-letter-former-board-member-jesse-powell/
Ripple labs team:
https://www.ripplelabs.com/team/
Edit: typos, quotes