Jump to content

LaBelleSaison

Member
  • Content Count

    145
  • Joined

  • Last visited

About LaBelleSaison

  • Rank
    Regular

Profile Information

  • Gender
    Male
  • Location
    Tokyo

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. If FLR and WFLR are different things and one is converted to another, this may cause a taxable event...
  2. In fact some believes that one of the reasons for XRP staying low despite the recent alt bull run is because the price is intentionally kept low while waiting for the Flare launch. Too high a price of FLR token from the beginning may hinder non-XRP holders from joining, and once launched FLR price will also be influenced by other participating tokens' price and will be more difficult to control.
  3. I think that Flare is a kind of derivative of XRPL and that XRP holders tend to be more aware of Flare Network and Flare Finance because of the airdrop which is exclusive to them. At the same time I feel from Hugo's interviews that his view is quite big and he is trying to create a new universe, starting from, but not limited to, XRP. I'm not sure about the impact of awareness level of individual investors. It may well be that institutional holders sooner or later come to recognize the value of participating in the Flare Network and start putting their assets in, and if this happens they
  4. @Seoulite I would agree. And the complexity of income tax also seems to increase according to these levels.
  5. In my understanding the FTSO rewards will be decided not solely by the number of votes but also by the accuracy of feed provided, thereby avoiding the situation of your concern to some extent. Am I correct?
  6. In this one hour interview Mr. Deaton explains how SEC's lawsuit is weak and almost self-contradictory to what it has been doing for the last eight years, and that what it could/should have done instead. He also explains the meaning of the lawsuit including potential impacts on the crypto industry and the scope of his intervention. The video gives us clearly an entire picture of the lawsuit and is definitely worth watching.
  7. On this part we know little so far, though how to mint F-assets from the original asset (e.g., XRP) is a little clearer. According to the information available on Youtube, we will first get XRP from the agent and then can convert it to FXRP, and it is prospected that rewards from F-assets will be higher than those from delegating the FLR votes to FTSO. If so, this avenue is worth considering especially for those who have problems in converting XRP to FXRP due to the tax.
  8. From the point of view of a retail user, Flare Network, Flare Finance and other emerging programs that will consist the ecosystem should provide two main benefits: 1) together increase the utility of participating tokens in a broad sense of the word and thus lead to their higher price, 2) create a new way of crypto transaction, i.e., to live on passive income in addition to the traditional buy low and sell high. And ideally these two factors will work together to accelerate the both simultaneously and exponentially.
  9. @NGVd83sFk Thank you for sharing your idea. In Japan the way of calculating capital gain may be different from the US. It is likely calculated either considering the average cost of the total XRP at the time of using (by selling or exchanging) a whole or part of it (in this scenario at the time of minting FXRP) or regard the oldest XRP as being sold first. So either way there will occur substantial capital gain if you got your old XRP at a rather low price. To avoid it one would buy new tokens which participates in the Flare Networks (XLM, Lightcoin, Dodge) but which you don't have,
  10. I thought FXRP can be minted only from FXRP, except that one exchanges FLR for XRP in advance (which may be taxable depending on the tax laws). Also, collateral of 2.5 times of FLR to the original token is needed on the side of agents and not the originator. The automatic convergence of price through FTSO is one of the main pillars of the protocol but I don't have tech capacity to predict if it works as expected. Though the system is designed so that the more participation it has the better it functions, at the same time with less participation early comers will get more at least in the
  11. According to the white paper, 100Bn Spark tokens will be created at the inception from which 25Bn goes to Flare Networks Ltd and 30Bn to the Flare Foundations (3.3.1.) If the Spark is priced at $2 at the inception, the Foundation will get $60Bn. This structure would indicate that a higher price would also benefit the Foundation along with the functionality of the protocol. Though this will be airdrops and not an ICO, the way of creating money looks similar.
  12. @BillyOckham Thank you. That will remove my question on arbitrage. If FXRP is directly sellable or may directly be converted to Spark token (outside of the redemption procedure), can one choose whether to sell FXRP in its own price or claim redemption in XRP? Instead, if FXRP is not directly sellable or convertible to Spark and can only be cashed out through the redemption procedure, will the FXRP price be only notional? How will it be related to the pricing under the oracle time series?
  13. I still don't quite understand if FXRP can be sold directly. On one hand FXRP price seems to be pegged to that of XRP and when one requests redemption FXRP will be reimbursed in XRP except for being paid in Spark in case of a default on the side of an agent. On the other hand XRP and FXRP will have different function and utilities and it would tend to bring about different degree of demand and thus difference in price. But if so how the system can address this fundamental space for arbitrage? I would appreciate it if anyone has a clear understanding on this question.
  14. As discussed in another thread, I myself is hesitating to mint FXRP due to tax consideration and instead may consider minting other F-assets from tokens that I do not currently have. Indeed, the Flare Networks system seems to be designed to work better with a larger number of participation with incentives to remain in the system rather than selling Spark tokens for capital gains. But some factors such as the complexity of the terminology and the mechanism or a relatively high prospected fee for minting may be hurdles to overcome.
  15. If I understand it correctly, the ratio of 1 original asset : 2.5 Spark collateral has to be maintained unless the governance votes adopt a different ratio. If so, it seems that the market cap of Spark has to be bigger than those of original tokens from which F assets are minted and the price of Spark has to be sufficiently high. But does this sound like chicken-and-egg?
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.