
Ripple cofounder is now of of the world's richest people - elephant_burger
http://markets.businessinsider.com/news/stocks/ripple-xrp-co-founder-chris-larsen-worth-37-billion-2018-1-1012408621
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JohnnyConatus
I'm not an expert but has anyone made a solid argument for why the banks would
use XRP as the medium of exchange versus the existing fiat reserve currency
(USD) or a general use crypto currency (BTC/ETH/BCH/whatever wins)?

In contrast, I've seen multiple articles like the below which basically say 1)
Ripple good, 2) XRP unnecessary. Based on nothing more than one person
suddenly becoming one of the world's richest people with next to no market
penetration, the hype vapors seem strong.

(I know there are proof of concepts being run but a PoC is no guarantee an
implementation. Otherwise all fortune 500 employees would be wearing Google
Glass while they ride their Segways.)

[[https://www.forbes.com/sites/ksamani/2017/12/20/the-bear-
cas...](https://www.forbes.com/sites/ksamani/2017/12/20/the-bear-case-for-xrp-
bitcoin-futures-edition/#5fd7225c14e6)

------
thisisit
What are the chances that Ripple just got it's place in internet infamy along
with pets.com?

As for the accompanying piece:

[https://qz.com/1169000/ripple-was-the-best-performing-
crypto...](https://qz.com/1169000/ripple-was-the-best-performing-
cryptocurrency-of-2017-beating-bitcoin/)

Here's what I found in a short time:

Ripple - cryptocurrency. Released 2012.

NEM - Smart contracts platform. Announced 2014.

Ardor - Blockchain as service. Annonced 2016

Stellar - "completely decentralized consensus platform". Announced 2016

Dash - Cryptocurrency. Started out as Darkcoin in 2014.

Ethereum - Cryptocurrency and smart contract platform. Relased 2016.

Golem - "The Golem Network is an accessible-to-everyone, distributed,
supercomputer that reduces costs (sometimes by over 10x) of scientific
research, big data analysis, graphics rendering, machine learning, AI… just
about anything that requires heavy computational power. " Announced 2016

Binance Coin - Did not find much info.

Litecoin - Cryptocurrency. Released 2011

OmiseGo - Wallet app. Released 2017

~~~
justboxing
Jed McCaleb co-founded Ripple, was forced out and then created Stellar.

Related: [http://observer.com/2015/02/the-race-to-replace-
bitcoin/](http://observer.com/2015/02/the-race-to-replace-bitcoin/)

------
icpmacdo
Do you think he could easily liquidated a few billion or would it crash the
market?

~~~
justboxing
Don't think a billion $ liquidation would crash the market. It's already been
done twice in the last few days, most recently, just this morning.

Source: "1 billion transaction payment just took place! #xrp #Ripple -
something BIG is bowling behind scenes!"
[https://twitter.com/kOsOvA_CryptO/status/948145757944729601](https://twitter.com/kOsOvA_CryptO/status/948145757944729601)

1 BILLION XRP Payment = about 2 BILLION USD $ Link to actual transaction is on
Ripple.com

Here's another 700 MILLION XRP sale.
[https://www.reddit.com/r/Ripple/comments/7nlrbc/another_700m...](https://www.reddit.com/r/Ripple/comments/7nlrbc/another_700m_xrp/)

~~~
ErikAugust
Moving a billion XRP from one wallet to another is not liquidating to $USD.

~~~
ChuckMcM
Exactly this. During the dot.com boom and bust when a dot.com wonder bought
company X for $YM but it was an all stock transaction and later the stock when
converted to $USD was done for about $Y.

When someone converts a billion in Ripple into $2B in cash in a reserve
account at UBS or something, _then_ you can be impressed.

~~~
ErikAugust
I think that any transfer of Ripple in large amounts would be settled off-
exchange for fractions of the trading price.

Ripple also has raised $93 million according to CrunchBase:
[https://www.crunchbase.com/organization/ripple-
labs](https://www.crunchbase.com/organization/ripple-labs)

One random speculation I have - if you approach miners with large pallets of
US dollars you can purchase BTC directly for a steep discount on the trading
rates on exchanges.

~~~
andirk
Do miners necessarily have the most coins to sell? 12 BTC every ten minutes
isn't a lot compared to the 16 million minuted coins out there

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noncoml
I print 1,000,000,000 paper ponzars in my basement. I manage to convince a
couple brainless folks to buy 10 @ $100 each, and suddenly I am rich!

~~~
dang
Please don't post unsubstantive comments here.

~~~
whamlastxmas
He has a point, he was just snarky about making it.

~~~
dang
Of course. But "just being snarky" is what users here are asked not to do. The
damage it causes to the culture outweighs the benefit of making a point that
way.

[https://news.ycombinator.com/newsguidelines.html](https://news.ycombinator.com/newsguidelines.html)

