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.
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XRP was created before the company was formed. Ripple didn’t create XRP.
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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?
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The Founders Agreement was dated before that.
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Yes, however the current ledger did not exist until 3 months after that agreement was signed. The ledger referred to in that agreement was abandoned. Arthur anticipated something like that might happen, which is why he demanded a piece of future ledgers too.
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David Schwartz saying it point blank:
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Of course. That's the role Ripple has chosen for itself -- positioning XRP as a settlement asset to go with its payment system. Ripple didn't create XRP -- Jed, Arthur, and I did.
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It may be a matter of perspective. Saying it doesn't make it true. When 3 people are working for the same company at the time they create something together, usually you would look to their employment contracts to determine to what extent their employer owns their work.
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Are you calling David a liar?
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No, I'm saying that anything any company does can be characterized as being done by the people who do it.
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Well, the company didn’t exist yet when XRP was created.
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Are you talking about some old, dead abandoned ledger or the current version we're using today? The XRP ledger that exists today came in to existence 3 months after the formation of OpenCoin. The XRP that everybody uses today did not exist before Dec 2012.
Look. There is confusion between XRP and Ripple. You can either help make it clear or continue to allow confusion. It’s your company and your choice and I’ve already expressed my concerns and POV, so I think we’re done here.
Goodnight.✌️
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Still confused. What happens if Ripple the company goes out of business? Who would use XRP?
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Ripple is just one enterprise software company that develops products using the open-source technology XRPL.
uses it, uses it, uses it, uses it, uses it, uses it, etc.
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