Conversation

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

Ole André

@4goals86

Dec 30, 2018

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

Dave

@David87162523

Dec 30, 2018

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

Ole André

@4goals86

Dec 30, 2018

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

Dec 30, 2018

XRP doesn’t have an issuer.

Ole André

@4goals86

Dec 30, 2018

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

Dec 30, 2018

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

Jesse Powell

@jespow

Dec 30, 2018

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?