Quote from: Este Nuno on June 01, 2013, 08:38:45 PM

Quote from: CurbsideProphet on June 01, 2013, 07:48:19 PM

Quote from: Este Nuno on June 01, 2013, 04:48:17 PM

Quote from: timeofmind on June 01, 2013, 03:52:48 PM

Incorrect. OpenCoin has complete control over the price by having complete control over the supply.

The market takes that into account. It's still a free market in the bigger picture. Opencoin can not control whether or not people purchase XRP. As of now the free market has assigned a value of around 50 XRP per usd.

When you unilaterally control supply, there is no free market. If OpenCoin were to dump 30 billion XRP on the market tomorrow, do you think the value would still be 50 XRP/USD? Obviously not. Until the majority of the XRP is distributed, market demand is in the hands of OpenCoin.

Opencoin is a company. Not a government. XRPs are their property. No one is forcing anyone to do anything here.

Anyone who purchases XRP knows exactly what the situation is. (I have not purchased any XRP fwiw)

That goes without saying but it isn't a free market. You're confusing freedom with free market, they are not the same.

Quote

A free market is a market structure in which the distribution and costs of goods and services, along with the structure and hierarchy between capital and consumer goods, are coordinated by supply and demand unhindered by external regulation or control by government or monopolies.

OpenCoin has a monopoly on XRP. Yes, it is their property and they have every right to control it. However, that by definition means it is not a free market, it is a controlled market.