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  1. Hi all, posting this here but feel free to check out the Flare club for more info (it's an open club, you don't need to join anyone can read and anyone can post). When is the network going to launch? We don't have an exact date yet but from the various announcements and estimates from the Flare team, we are expecting it to go live sometime in middle/late July (4-6 weeks from now). The network is currently undergoing security audits to make sure it won't get hacked and we all lose all our money. Where will my tokens go? As our good friend @BillyOckham explaine
    26 points
  2. The OP article is interesting, but the question "Has R3 scooped Ripple?" continues to follow it. Briefly; no. Ripple and R3 offer two very different products. Ripple was not offering a blockchain platform. They offer XRPL integrations for payments. R3 is involved building private automated systems between the governments as a crossborder trial. They aren't a coin, either. Things to note: >This is a wholesale CBDC crossborder setup. That means these governments must trust one another in a private, permissioned network to hold their reserves in digital currencies. >Not
    20 points
  3. I think that is just one part of Ripple's fair notice defense. The issue as I understand it is: would a reasonable person in the marketplace, give the totality of the circumstances, consider xrp to be a security based on the conduct/inaction of the SEC? Just one sliver of that is: the SEC sat on its hands for nearly a decade knowing full well that Ripple, a big company, was selling xrp without registration. A reasonable person would rightly factor that into his/her analysis in determining whether xrp is a security. On top of that, you have so many other factors that favor the conclusion
    13 points
  4. We now have a second interview with Hugo done on twitter and recorded by people and posted on youtube. I've listened and noted down some of the points that jumped out to me. They are pretty random: - Hugo: we’ve been turning away investors for over a month, we don’t need more money [...] we could’ve raised multiples of (the 11 million raised in this seed round) if we had wanted - there will be a bug bounty program paid in FLR run by the foundation - up until yesterday Flare had not not spent any money on marketing, now they are spending money, because they want to reach people o
    11 points
  5. For anyone wondering about the market behaviour try this: put XRP (or nearly any other top non defi coin) on a 1 minute chart and overlay BTC. After doing that regularly for most of this year I have noticed the following. What happens is this... BTC moves and moments later the coin moves in the same direction for a similar amount. (Get the scales matching and they are very similar moves) They basically print a clone chart of BTC. Bots are acting on their underlying valuation assumption of everything in comparison to BTC. It has to be bots, because humans could never achieve
    10 points
  6. 1. Dodgy site that creates some strong narratives out of disconnected pieces. Who dubbed Fnality the "XRP Killer"? Perhaps he took that line from yet another mishmash of words blog; https://insidebitcoins.com/news/ripple-killer-announced-by-big-banks 2. Fnality has been touted since computers first used punchcards and still they have no production. By all means, go load up on USC; the coin of the future! You will find most of the positive articles are from 2019. They received $70m of funding then, the same year Ripple raised $200m. 3. Check out this article from a more reputable s
    9 points
  7. I know I am the Flare cheerleader here but I do disagree. So far 'DeFi' has been in a very chaotic experimental phase, as few people use crypto even fewer use any kind of DeFi. The possibilities for DeFi are only just beginning, in crypto terms it is like 2016, things are just starting to appear and people are just starting to take it all a bit seriously but so far it is mostly hype and pipe dreams.
    8 points
  8. I've mentioned several times that there are lots of parts to this case that could create real headaches for both the SEC and the sector if the parties go to trial and a judgement is issued. The fair notice defence is just one of the elements that I'm watching with interest even though I have to say that the idea that one can claim as a defence the fact that regulators, who mainly operate on threadbare budgets, never got around to prosecuting you seems rather weak and offends my lawyer's commonsense principles. That's why we have limitation periods. If the parties don't manage to settle, J
    8 points
  9. But enough about XRPChat, what do you think of the article?
    8 points
  10. It was founded to create a cross-border settlement framework among participating banks that will utilize a fiat-pegged cryptocurrency. Another xrp killer pegged to fiat. Same story as the last, I don't remember how many xrp killers, over the years. I would take that idea with a grain of salt.
    8 points
  11. Bitcoin's price has broken above 2 downtrend lines and the bollinger bands are back to contracting. Still waiting on the big green candle. The last two days will be erased. I was a little confused by the drop at first. Apparently people got spooked and sold because they actually thought it was possible that the FBI hacked a bitcoin wallet. When I first heard the news I figured the FBI may have taken the bitcoin from an exchange but I knew a bitcoin wallet wasn't hacked. In fact I didn't think it was possible that someone would believe that a bitcoin wallet could be hacked. If you had
    8 points
  12. To sum up, HEY SAY'S RIPPLE, hand over the documents you have already been ordered at least twice to do. The SEC is playing games and defying the court at this point and that does not play well, for them and this case. The SEC's delaying tactics are just another way of putting the hurt on Ripples business, to try to negotiate a better settlement on behalf of the Self Enriching Criminals. This is a farce and shows that the SEC :- 1. Should have never brought this lawsuit in the first case. 2. The SEC's motivations have ABSOLUTELY NOTHING TO DO WITH INVESTOR PROTECTION. 3. T
    7 points
  13. Guys, let’s not go back to fighting please I know sentiment is in the gutter but let’s try and make the forum a place where we can come and take a breather instead of keeping the same pace as the fear and greed indicator and toxic workplaces. As Marcus would say in Bad Boys:“Whooooh saaaah”
    7 points
  14. Hard to know for certain until the network goes live and is being used actively, but the current test network is producing blocks every minute or so (with unexplained gaps) There is a balance. Consensus means that every node needs to know what all the transactions are, so they need to be exchanged. This messaging/exchanging of information is a major bottleneck, then you need to wait for everyone to vote/decide. Meanwhile each transaction has to be executed and applied to the ledger before deciding if it can go in or not. XRPL has path finding which can in principle be an expensiv
    7 points
  15. Not out of the woods, and I'm still bearish, but the price action is what it is. The price was held 3 times at 32K and that was good enough for me to buy. Now the question is how high will it go. Answer is? Eric123 = 400k, Blockchain Backer 75K, JP Morgan 120K. Me, I have no idea, but they protected the golden goose from catastrophe so far so who knows what the next step is. All I can say is the buying is relentless. Yesterday I bought every dip and the price never failed to soar even higher. Short sellers are absolutely not buying this pump. Short interest has gone exponenti
    7 points
  16. I think the XRP chart is unimportant. XRP with get dragged up as bitcoin's price rises and it will move up on positive lawsuit news.
    6 points
  17. One last step of the Wycoff accumulation. Chop between 39-42K before the final markup phase. Personally, I'm going to add after the price retraces from 42.5K and holds between 39-40K. That will be complete my accumulation.
    6 points
  18. I haven't looked at your math yet, but I do agree with the potential of Flare. Here's another way to look at it. Flare is to crypto currencies, as XRP is to fiat currencies. Their play is to effectively become a bridge currency for blockchain platforms. With the ability to support smart contracts and native oracles, it effectively frees the other teams from having to somehow support smart contracts or integrate with oracles as table stakes. Instead, the other platforms can focus on executing their specific business goal, knowing fully well that they can get plenty of liquidity and interop
    6 points
  19. I think she is pretty much following convention in granting the extension. She does not want to be accused of taking sides and using her position to pervert the course of justice. On the optimistic side she is now in a position to rule this case as impartial arbiter against SEC if she feels that is the right thing to do.
    5 points
  20. Seoulite

    FLR / XRP

    I am cautious about this. These agreements are almost certainly not legally binding. It's not a slam dunk by any means. No, Hugo will represent Flare Networks Limited, a for-profit entity. The Flare Foundation is a separate entity that is non-profit, and can be dissolved under a governance vote. Hugo confirmed that Flare Networks Ltd will act as an agent. They are receiving a certain amount of spark as 'founders'. I can't remember exactly how much but it's not 55B. Agents receive the fees in the native assets, so if you are an agent for the minting of FXRP, you will receiv
    5 points
  21. It's not a design decision really. The addresses are not strings. They are numbers in the hexadecimal system. We use the decimal system everyday (i.e. base 10). That means, our numbers go from 0-9. Any numeric value is represented by digits between 0-9. The binary system (i.e. base 2) has only two numbers. 0 and 1. This is how computers operate at the lowest level. Either there is a signal, or there isn't. The hexadecimal system is base 16. It goes from 0-9 followed by a-f, where a to f letters are used as hexadecimal representation of the decimal numbers 10 ,11, 12, 13, 14
    5 points
  22. I agree a 100%. And that’s why there needs to be investor protection but I’m just disappointed with the initial targets the SEC has chosen and their approach.
    5 points
  23. It’s good to have skeptics. The way Flare’s system works is complex even by blockchain standards, and documentation so far has been… academic in style. Hell, even Avalanche developers think Flare is just a fork of Avalanche. Take the most liquid of the top crypto currencies (XRPL) and give away Flare for free. Instead of passive participation (staking, as in PoS), incentivise active participation feeding into built-in oracle and agent systems, which in turn protect the exchange rate. Furthermore, provide second order incentives by holding F-Assets. And third order incentives b
    5 points
  24. So that brings us to the other way. Around 2015 Ripple realized it was having a very hard time getting businesses to use the XRPL. So it basically decided to gut it and turn it inside out so that instead of the whole world having to issue IOUs on the XRPL to exchange value, the whole world could exchange value across networks the same way that the XRPL can exchange any IOU for any other one. This is called the Interledger Protocol, or just Interledger for short. Instead of IOUs it uses market makers between networks. So if you want to send Y Colombian Pesos, it would figure out that some
    5 points
  25. We kinda already know this from the fact that doge is in the upper echelons of the top 10.
    5 points
  26. This is what he says about agents and f-assets: "The agent can discharge their obligations in any particular number of ways, so it may be that the agent never actually ends up paying that XRP directly back out, they may simply buy FXRP on Flare and then net that off against their position in the smart contract. That may sound a bit complex but it's really not, it's very simple. [...] It's the agent's asset at the point at which it's created, the agent just has these obligations that are very draconian in order to keep the system running." Thinking out loud: So we've learned a co
    5 points
  27. In my tax classes the rule of thumb was "if you have an economic gain, you owe taxes". The tax code is an Economic system. I think recieving FLR, is an economic gain, so I expect to be paying some taxes. I dont understand why so many people are so afraid of paying taxes. I had one professor ask the class, "who wants to pay less taxes?" 90% of hands went up (I raised my had for more taxes). Then he said, "ok, then 90% of you just need to not make more money, then you wont have to pay more taxes".
    4 points
  28. It gives the judge another 60 days to accumulate XRP, don't say you wouldn't do the same if you were late to the game?
    4 points
  29. It is worth noting that several things in this blog contradict what Flare has claimed about tax obligations. Flare said they have received written advice from a tax expert at Harvard. They have also said they will publish whatever they can about this tax advice they have received. So this blog post is not set in stone, and hopefully Flare will soon publish something official.
    4 points
  30. its not really an ad hominem. He/she is twisting your tail in a friendly way and you get very angry. I think you are too sensitive when reading these posts, and your response was strong and escalated a joke into an argument. You have both got lots to contribute to the forum. Next time give him a laugh?
    4 points
  31. I saw that @xrp-nuke had recently posted...imagine my disappointment when I realized he hadn't posted about how accurate my 7 day forecast was. Oh well, I'll just go back to my terrible TA and the intuitive naysayers can continue to intuit and nay-say
    4 points
  32. Nice find from our friend XRPDarren Entire interview is worth a watch
    4 points
  33. Volatility has flattened out on bitcoin's price. Bollinger Bands are flat. Still waiting for the break out. A price above $38,400 will break above the next down trend line.
    4 points
  34. Flare is a fork and Flare has made significant changes. The two statements aren't mutually exclusive. I'm counting the word "just" as rhetoric, it's made to make Flare look bad but not deliver any substantial content. If you're interpreting it to literally mean "only and nothing else" then I agree with you.
    4 points
  35. Ripley

    Using Nano

    You should be able to export your MEW address to MetaMask easily enough. Go to Mew App > Settings and Support > View Recovery Phrase and write that down. Go to https://iancoleman.io/bip39/ and enter your mnemonic words above, select ETH and generate. You’ll get a private key. If you’re paranoid, you can go offline and use this website in an incognito window with all browser extensions disabled. In MetaMask, you can use this private key to “import” your ETH address. Verify that the wallet address is the same that you can see as your Flare claim in either xrpt
    4 points
  36. Wow that's great! Thanks for keeping us in the loop. You guys are definitely gonna be on my list of signal providers to delegate to.
    4 points
  37. It's an experiment, so I don't know if you can say BIS has partnered with R3. I'm no expert but this video mentions a few things which are very much in favor of XRP. The last time I checked Corda's open source code on Github, it mentioned 2 settlement types only: SWIFT and XRP. Does anyone know which other settlement types have been added to Corda's settler? Would be interesting to contact R3 to find out. The fact that XRPL has been running smoothly for more than 8 years now, with billions of dollars at stake, combined with the fact that Ripple has been piloting a private ve
    4 points
  38. Keep in mind https://www.ledgerinsights.com/sec-legal-papers-reveal-r3-ripple-settlement-was-more-than-240-million/ And from the top link:- The BIS Innovation Hub, the Bank of France and the Swiss National Bank today announced that, together with a private sector consortium led by Accenture, they will conduct an experiment using wCBDC for cross-border settlement. The private sector consortium includes Credit Suisse, Natixis, R3, SIX Digital Exchange and UBS. No mention of Ripple, has R3 managed to pull the rug out from under Ripple? Accenture is mentioned, who are part
    4 points
  39. I think it opens the path for Gensler to stand up and take control of the situation, and put forward some sort of coherent way forward for the industry SEC have failed to regulate to date. Fair notice is a fair defence given the open declarations by SEC executive (all be it in the pay indirectly of Eth and Btc) that ETH was not a security. It is a sword of Damocles' forged by SEC themselves, I am hardly sorry for them that it is now waved over their heads.
    4 points
  40. The big problem the SEC has with the lawsuit, IMO, is the public statements from two of its commissioners that ETH, along with BTC is probably not a security. If ETH wasn’t included in those statements, Ripple wouldn’t have been able to put forth a strong Fair Notice Defence. I don’t personally think the 8 years thing matters so much as the ETH problem. Poor Mr. Gensler has been explicitly avoiding speaking about any cryptocurrency except BTC. While I’m sure Ms. Rosie meant this statement in a different context, her words are apt. The train has left the station. I hope to see so
    4 points
  41. Bitcon's price has broken through two down trend lines and is touching against the top of the next one. After that there is only one down trend line next before Bitcoin makes it's next run to a new ATH. The FUD keeps coming and will keep on coming. The only way to guard yourself against the FUD is to be informed, which means educating yourself on what Bitcoin actually is, it's capabilities, it's limitations, it's potential. Being informed means starting by reading "The Bitcoin Standard". Once you are informed you will be able to filter the "noise" from the "news".
    4 points
  42. FTSO_AU

    FTSO matters

    Hopefully more wallets follow suit. Post updated with link to original Tweet ... thanks for the tip @BillyOckham
    4 points
  43. Screenshot of the letter: https://twitter.com/CryptoGOAT7/status/1402390174877765635/photo/1 This You Tube commentator is extremely thorough and level headed - he is doing a very good job reviewing the contents of court documents Jeremy Hogan https://twitter.com/attorneyjeremy1/status/1402453862406098945
    4 points
  44. This. This is the part Ripple could never figure out how to do. They had a freaking DEX way back in 2013 when DeFi wasn't even a thing. And to this day they haven't figured out how to get anyone to use it. They never figured out how to prime the pump to suck in enough liquidity to be able to keep attracting more liquidity on its own. In contrast to Ripple, Flare has us lined up like shoppers waiting for a Black Friday sale looking to rush in as soon as the doors open.
    4 points
  45. The XRPL is a multi-currency ledger, it can hypothetically be used to transfer anything. In reality, right now, no. The technology is all there, but the liquidity providers aren't. The first way to do it is within the XRPL. Any account on the XRPL can issue any currency it wants. These issued currencies are commonly called IOUs because they represent a claim that you can redeem the actual thing that it represents from the issuer. Let's hypothetically say that Coinbase issues a USDC IOU on the XRPL - you can deposit actual USDC from Ethereum in exchange for USDC IOUs issued by them on
    4 points
  46. Those brackets are used when changing the capitalization from the original quote or changing it for some grammatical reason. They are always used when quoting from another source. So, for example, if the original quote (usually from another court decision) being cited to the court was the end part of a sentence, but that section of the original quote is now being used as the beginning of a sentence in the current quote, then brackets are used around the first letter of the first word. "[H]opefully, that makes sense." But I also noticed that there was a lot of that in this last letter.
    4 points
  47. Absolutely. Using an Agent Service Pros No need to put up your own collateral, and so can potentially move all of your XRP to FXRP if you want. Access to more FXRP => access to more FLR rewards. Not letting go of your own FLR as an XRP holder => even more FLR rewards. Cons Unclear Tax Treatment. I believe wrapping is usually considered a personal transfer because the intent is to transfer the assets on to another blockchain, but it's possible that Flare's system is sophisticated enough to be considered otherwise. Especially because Agents can do with XRP whatev
    4 points
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