Conversation

There’s no such thing as “new” XRP. There is a finite quantity and that quantity is all of the same age

Let me clarify: with “new” XRP I refer to the supply of XRP which is currently not in circulation. That’s about 60 % of the total supply. Who gets the money when that hits the market?

Dave

@David87162523

Ripple, the company. It’s their XRP after all

Exactly, that’s the central authority. Thats why BTC is a commodity and why XRP is a security.

Dave

@David87162523

Incorrect. Ripple is an owner of XRP. Not a central authority on the decentralised open source ledger. Ownership, albeit a large qty, does not denote authority (ala Satoshi)

GIF

Decentralized userbase sure, but that’s not the point. Ripple is the only issuer of XRP, unlike BTC, where coins are issued based on PoW. That’s why XRP is a security.

𝚃𝚒𝚏𝚏𝚊𝚗𝚢 𝙷𝚊𝚢𝚍𝚎𝚗

@haydentiff

XRP doesn’t have an issuer.

What do you want to call it? One single company, Ripple, created the entire supply of XRP and gets paid every time it increases the circulating supply. A playbook definition of a security.

𝚃𝚒𝚏𝚏𝚊𝚗𝚢 𝙷𝚊𝚢𝚍𝚎𝚗

@haydentiff

8:08 AM · Dec 30, 2018Twitter Web Client

XRP was created before the company was formed. Ripple didn’t create XRP.

Replying to

It's not true that XRP was created before OpenCoin was formed. This is the announcement of the creation, which is months after the company's formation: forum.ripple.com/viewtopic.php?

Replying to

The Founders Agreement was dated before that.

𝚃𝚒𝚏𝚏𝚊𝚗𝚢 𝙷𝚊𝚢𝚍𝚎𝚗

@haydentiff