/biz/ - Business & Finance

Looks like XRP Hodlers are getting cocky again after seeing their dead cat bounce so here I am back again, presenting to you why long term XRP hodling is retarded and incentive incompatible for joe shmo.

What is XLM?

Its XRP but better founded by Ripple's former CTO who owns a bajillion XRP he dumps regularly to fund XLM development and Bitcoin addiction.

https://decrypt.co/50876/jed-mccaleb-immediately-sells-30-million-xrp-after-getting-266-million
https://cointelegraph.com/news/ripple-co-founder-jed-mccaleb-sold-400-million-worth-of-xrp-in-2020
https://cointelegraph.com/news/ripple-co-founder-jed-mccaleb-sold-a-billion-xrp-and-has-47b-left

https://bithomp.com/explorer/rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv

This is his public wallet. He still receives regular XRP payments from Escrow. What does that mean? Jed and his other Founders get paid in their own XRP regularly.

But Anon! That's good if they get paid on XRP WAGMI! WAGMI!

No retard, because:

If for every $1 profit you take, someone who has no interest in XRP's success dumps his holdings at a 1000x multiple. These guys already made it.

https://ledger.exposed/rich-stats
Half of the XRP is still in escrow and isn't paid out yet.

This is what you are betting on. Even without the SEC mess these are terrible fundamentals.

Pic related, Jed Mccaleb's public wallet.

Thats all you need to know.

WAGMI