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Ripple fully funded every live DonorsChoose classroom project yesterday

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Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#91

Post by aje403 »

throw9991999 wrote: post #29

$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 hardly a silver lining. 29mm pales in comparison to the amount of money they have ponzi'd out of the common investor who has bought into this.

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#92

Post by koboll »

Waterluvian wrote: post #12

When I think about large-scale donations I think about Melinda and Bill Gates. They don't just donate large sums of money, they donate their time and talent and take their efforts very seriously. They work hard to see every penny well-spent in an effective manner. That being said, I would love to witness a super-rich person throw a one-time insanely large lump sum of money at some problem. Like, "Here's 50 billion do…

>That being said, I would love to witness a super-rich person throw a one-time insanely large lump sum of money at some problem. Like, "Here's 50 billion dollars. Free mammograms to anyone on the planet until the money runs out."

I feel like that's a dangerous plan. The Gates Foundation invests a lot of time and energy into making sure its money is well-spent and effective. Throwing a "one-time insanely large lump sum of money" at a problem sounds like a recipe for graft and embezzlement on a colossal scale.

The toughest problems are the ones that resist throw-money-at-it solutions. You can't just give money to poor people; you have to do it in a way that coincides with guaranteeing they understand how to use it to escape poverty, guaranteeing it won't be stolen by a corrupt regime, etc. etc. etc.

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#93

Post by kolinko »

anichhangani wrote: post #78
xbkingx wrote: post #63

Earlier quoted context omitted.

It gets better. The intermediate layer is controlled entirely by Ripple and closed source. The coin only exists to provide 'liquidity' and improve confidence from financial institutions. In essence, Ripple is just a payment processor riding on the crypto hype and the coin is simply an unregulated stock. This is the latest attempt to pump prices and generate PR. No one makes money when prices are stable. (If anyone re…

> The coin only exists to provide 'liquidity' and improve confidence from financial institutions. Can u please elaborate what are the other traits a coin can exhibit other than providing value? And what are the other purposes of coins such as bitcoin/litecoin/ether etc.

In case of Eos, you need to own the tokens to run smart contracts on the network (mire you have, more % of processing power you get).

In case of Ether, besides being used for transaction fees, it will be used for providing security/governance (token holders kind of voting on what the next blocks are), but also as an underlying store of value (e.g. as a collateral for tokens pegged to fiat currencies - see MakerDAO)

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#94

Post by mathattack »

Fascinating. This seems like a great way to get more currency in circulation without pissing off the miners or current owners. If they just gave it away, they would have inflation. But the PR from this will generate enough demand that it shouldn’t hurt the value. In addition every dollar they give will likely circulate rather than be hoarded. And the teachers benefit. Brilliant!

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#95

Post by aje403 »

simias wrote: post #75
mattigames wrote: post #65

Earlier quoted context omitted.

False. Those $100 are not enough to save people from malaria but the kind of money Bill Gates has did; doesn't matter how much you fought to obtain a single dollar and then you donate it; it helps just as little as it you found it on the floor.

Thought experiment: imagine that I'm a huge multinational company who makes billions in profit. Imagine that I evade (or "optimize") my taxes as much as possible using all the tricks in the book. Now I decide to invest a few hundreds of thousands of dollars to, say, donate computers to schools. It's great, isn't it? But wouldn't it make more sense not to do that and simply pay my taxes instead, which would probably e…

Morally speaking you are a random nobody on the internet complaining about a guy's morals who has built an industry that has substantially increased our GDP and lifestyle and now is having a substantial impact on decreasing global poverty and is going to put all the value he fairly earned back into the economy when he croaks in 20 years

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#96

Post by komali2 »

nugi wrote: post #86
fnord123 wrote: post #73

Earlier quoted context omitted.

Yes, we know where the Republicans want to point the firehose of money.

Back to the people who earned it? That is their party platform, and the source of their 'small government low taxes' position. I care less for politics, but lets pretend to talk intelligently if we are going to broach them.

There is a platform, and there is action.

The Republican party has done little to "send money back to the people that earned it," given that their policies historically screw over... well any earner under a given wealth threshold.

Providing education is giving money back to the people that earned it, using the government's massive power of collective bargaining. Federally funded education research can accomplish a hell of a lot more than, I don't know, what's the republican version? A bunch of private bootstrapped citizens banding 3.50$ each to fund a private education study on new teaching methods?

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#97

Post by shepardrtc »

downandout wrote: post #37

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’…

The XRP was already sold ahead of time.

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#98

Post by shepardrtc »

celticninja wrote: post #88
BinaryIdiot wrote: post #51

Earlier quoted context omitted.

> 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?

They were pre-mined but the supply is infinite, as I understand there is nothing preventing them from creating more at any point.

The supply isn't infinite, and they won't create more.

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#99

Post by bpicolo »

berkes wrote: post #70
throw9991999 wrote: post #29

$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…

> Donating $29M worth of XRP costs them nothing since Ripple labs holds 80 billion XRP. 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 "sa…

If you own Ripple, you should hopefully already be aware of how much of it Ripple owns.

Re: Ripple fully funded every live DonorsChoose classroom project yesterday

#100

Post by Angostura »

nugi wrote: post #84
Angostura wrote: post #82

Earlier quoted context omitted.

The fact that there appears to be a sentiment that spending on education equates to a 'firehose of money from flowing directly to the teachers union cronies' sounds like it is part of the problem.

To be fair, I know 4 teachers, and all abhor their 'unions'. Its crooked, but they fear the alternative (loss of collective barganing power) more. Its a self-perpetuating problem of actual well meaning people playing CYA.

And I quite understand the sentiment, I'm not arguing that unions are great, I'm arguing that increase in educational spending shouldn't be seen as somehow funding unions.
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