61–70 of 112 posts
This is great, but since this move added no new traders to the market and instead added a bunch of people that will dump their XRP instantly, doesn’t this hurt current holders? I wonder how much this had to do with the 5% price drop today [1]. It seems like what they really did was take traders’ $29 million and donate it, except they had no choice in the matter. Not that this is a bad way to spend one’s money, but I’…
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Wait... people who bought into a currency that is majority-owned by one entity would like some say in how that entity spends it?
How that compares to fiat money where the central bank can print more money as it wishes?
Also, it's different because since currencies have goods and services that you can buy with them, monetary expansion isn't actually inflationary to the price level unless it pushes aggregate demand (spending) above the supply of goods and services available in that currency. Whereas all this Ripple likely is going to straight to be sold off so the recipients can actually buy things...
$29M worth of XRP going to a good cause. Great, cash out and make good use of it. The cynic in me sees this as a cheap PR move (an SVP of marketing promoting it doesn't help). Associating your token with a good cause gives it credibility in the eyes of the public which in turn leads to an increase in the XRP price in USD. Here's what I understand about ripple: - 100 billion XRP was created at inception with 20 billio…
(If anyone reading this likes their products, that's fine. Just realize what you're getting into first. It's actually a very entertaining currency to watch from the sidelines.)
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On the one hand, I’m very proud of how much it can help with such a small donation. On the other hand, I’m depressed it has to come from donations. Seriously, what is wrong with adults these days kicking the door closed behind us?
Propaganda mostly from the Republican party has convinced a great deal of people that Education is a waste of money. This is obviously stupid and false. Apologies for getting political, but I come from a family of teachers in two red states (actually three now, thanks Wisconsin, you do love to hate yourself), and we're out of fucks to give. EDIT: I know we don't like to get political here, but the question was "Why i…
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When does it become not a cheap PR move?
When it actually costs something to the donor? If somebody living below the poverty line donates $100 to a cause it's a pretty selfless act. If Bill Gates does it then not so much. It's great that Ripple decides to donate money to charities but it's not like they're making a huge sacrifice here. Given the highly speculative market surrounding crypto the good PR this gives them might very well end up making them signi…
Objectively, here's what this does: 1. FUND MILLIONS OF STUDENTS (I don't think anyone can overstate how awesome this is) 2. Give Ripple Labs good press and put them on the front 3. Increases the supply of XRP which: - Means more XRP in the market in the market for more users - Drops the value per XRP making transaction costs cheaper All that aside, let's all give Ripple a virtual high five for funding education. Thi…
> Increases the supply of XRP which Wait, it does? I thought one of the unique aspects of ripple was that all of the coins were pre-mined so the supply is finite. Right?
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It really sucks that American public schools are so poorly funded. But maybe the principal and committees are just "playing the game" appropriately from their perspective. I doubt they have beanbag chairs full of cash that they're hoarding. I could see a scenario where, sure, the teacher's proposal is great. But what makes their proposal any better than the thousand others that cannot be funded?
Here is the relevant data for my city: https://transparentcalifornia.com/salaries/2016/berkeley/
He pretty much doubled his salary with overtime.
And there are way too many city salaries over $200k in my opinion. Judging by the job descriptions and requisite educations for those jobs, I'd say they are way, way over market rates.
In what fantasyland do you need to pay $250k a year to find and retain a talented individual to be an "EMT supervisor"?
For perspective, Warren Buffett has donated $46 billion and Bill Gates has donated $18 billion to charities since 2000.
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Where do you live? The private schools may also get funding, and public schools have much higher expenses for special needs students etc. who are often not allowed to enroll at private schools.
Several private schools I know in west coast burbs get by on The point, though, is that there is an incredible amount of bloat in the public system. Funding amounts themselves are not a primary problem, though perhaps allocation of funding is!
There are costs to operating a school district that have increased dramatically in the past 30 years (most significantly: employee benefits, special education compliance) and have not been met with comparable increases in funding. Additionally, we've dramatically raised the expectations we have for schools (holding schools accountable for "No Child Left Behind" and raising the rigor of instruction with the Common Core & new assessments).
From this vantage point, it seems clear to me that we need to either narrow the scope of what we ask schools to do or increase funding to meet additional burdens. And it'd be nice if we can improve operational efficiency while we do this...
$29M worth of XRP going to a good cause. Great, cash out and make good use of it. The cynic in me sees this as a cheap PR move (an SVP of marketing promoting it doesn't help). Associating your token with a good cause gives it credibility in the eyes of the public which in turn leads to an increase in the XRP price in USD. Here's what I understand about ripple: - 100 billion XRP was created at inception with 20 billio…
This is the key.
Ripple has donated $29M value out of the portfolios of their XRP-holders. The effect of this, might be a net-increase of that value, though, since the marketing-effect might even pump the price.
If you own XRP, you just donated a fraction to a good cause. Congrats.
Very similar to how Europe "printed" money to "save Greece" several times. A worthy cause, but paid by everyone holding Euro: every Euro just gets some inflation and the shaved-off value is used "for the good cause". I'm not saying inflation is bad, that is not my point. Nor that giving to good causes is bad, and my point is also not about wether or not the combined wealth of Europeans should be used to save a county.
My point is that giving away other peoples money is easy and hardly ever presented as such.