Quote from: ðºÞæ on May 17, 2015, 03:06:53 PM

Quote from: bitcoinrocks on May 17, 2015, 02:41:58 PM

The price of XRP has been pretty stable for 2 or 3 months but has now dropped to levels not seen since 11/14. Could this be Ripple selling XRP to pay their government fine?

lol no, its a company (with about 40 staff) and it sets theprice to whatever it feels is right to sell the xrp's which did cost anything to produce and can be copied endless times over.
An xrp will never be yours they may allow you to hold some and thats about it.
The fine is loos change for them and nothing more than a Charade.

I'd estimate 90 employees and 5 interns. But yea, definitely just loose change for Ripple Labs. Seems like they went quickest way possible by lobbying for a compliance level to officially be able to send their bloodthirsty sales force across the world like Matthew Mellon.

Quote from: ðºÞæ on May 17, 2015, 03:46:29 PM

Quote from: bitcoinrocks on May 17, 2015, 03:16:38 PM

What do you mean Ripple Labs sets the XRP price?

Exactly what it says.
As it is a centralized company they have full control of the price. If they want the price to go up they simple dont dump for a day. Unlike Bitcoin where a set number of coins is mined a day and noone can say no new coins today.
Ripple has only one indention to know when, where, what cola you drank, where you have spent some money, when you farded, what you eat, what you earn, basically you end up being a marionette.

Even the marionettes get lucky sometimes...