[downandout]

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’m sure at least some holders would have liked a choice in the matter.

Also, for the teachers, what happens if the price falls before they can dump and their projects have a shortfall?

[1] https://coinmarketcap.com/currencies/ripple/

[jbg_]

Wait... people who bought into a currency that is majority-owned by one entity would like some say in how that entity spends it?

[dorgo]

How that compares to fiat money where the central bank can print more money as it wishes?

[stephen_g]

Real currencies generally exist with a Government that requires taxes are paid in that currency. So there's always a baseline demand. Almost nobody in politically stable countries could completely stop using their currencies tomorrow if they didn't like how the Government sector (Government + central bank) spent money (without moving to another country).

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...

[shepardrtc]

The XRP was already sold ahead of time.