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Flare networks - Spark token to XRP holders


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7 hours ago, thehurricane1888 said:

i bought a small amount of Etherium to go with my XRP, in order to gain etherium address. so i hope this enables me to use this address to get mt flare tokens.

 

am i correct here guys..?

No that’s not correct.

Simply having an Etherium address doesn’t mean you get Flare tokens.  Also if you bought the Etherium on an exchange then you don’t have an Etherium address you simply have the promise by an exchange that they will send your amount if Etherium when you withdraw them.

I think the easiest way is move your XRP onto a participating exchange.  But that has a risk that the exchange will steal from you and go out of business, or that they will be hacked and your coins stolen.

Another easy (but slightly harder) way is put them in a Xumm wallet and follow Weitse’s instructions.  That has the risk that using any software wallet carries...  you need to decide if you trust that company.

Good luck with it.  They may be worth practically nothing in the end anyway.  :)    Or not.   :) 

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Because so many people seem confused about this whole claim process I am going to write a short explanation of what happens and why.  It’s not a how to...  others are doing that.  It’s a ‘what happens

Can be massive.

apologies if this has already been posted on this thread - great read if you enjoy Galgitron's style http://galgitron.net/Post/DeFi-Defined   

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On 11/1/2020 at 11:02 PM, BillyOckham said:

No that’s not correct.

Simply having an Etherium address doesn’t mean you get Flare tokens.  Also if you bought the Etherium on an exchange then you don’t have an Etherium address you simply have the promise by an exchange that they will send your amount if Etherium when you withdraw them.

I think the easiest way is move your XRP onto a participating exchange.  But that has a risk that the exchange will steal from you and go out of business, or that they will be hacked and your coins stolen.

Another easy (but slightly harder) way is put them in a Xumm wallet and follow Weitse’s instructions.  That has the risk that using any software wallet carries...  you need to decide if you trust that company.

Good luck with it.  They may be worth practically nothing in the end anyway.  :)    Or not.   :) 

I followed all the instructions on the XRP tool-kit, in the end it said, "sit back and wait for your spark tokens"

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On 11/1/2020 at 3:52 PM, WarChest said:

 

getting your Ether Address is one step in the process, but if you are not confident with the steps involved with updating your account message key with a Flare account, I would consider signing up for a participating exchange and asking them how to claim your Flare spark tokens.

It might be that simply having XRP on a participating exchange on the entire day of the snapshot, that they will sort out the flare allocation for you.

Ask an exchange such as CoinField (that's just as an example, other exchanges may be appropriate too), what you need to do if you had XRP on their exchange.

 

 

thank you

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I am a lazy holder who has bought XRP on the eToro platform for dummies.  I was panicking that I had to set up wallets and register with exchanges, however this is not necessary since eToro are participating.

There are lots of advantages of using exchanges and running your own wallets, but EToro is a good second best option that takes a lot of the stress out of trading in an amateur sort of way.

 

Screenshot_2020-11-16 https www etoro com.png

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On 11/1/2020 at 6:10 AM, WCH said:
  On 10/8/2020 at 9:11 PM, mistatee2000 said:

$0.0001 to $0.001. Ask again in October 2021

On 11/1/2020 at 6:10 AM, WCH said:

I don't see the price being discussed at all...

Isn't what the price of what spark will be the important aspect to try to break down before deciding whether to take part in this air drop? If the price isn't significant, there is no reason to spend the time to understand how to take part in this airdrop.

I am still wondering if I should take the time to understand the ins and outs to participate in this airdrop... I feel like the price will be so insignificant that it won't be worth my time to do all this.

 

Of course price is an important factor here. Even if you would have 100,000 XRP, with the price of 0.0001 for one flare you only get $10 in value.

With a price of 0.0001 I cannot imagine it to drop because of everyone dumping their free flares. Why would anyone with less than 100,000 flares sell it for a lousy 10$ or less?

There are people now probably bying a Ledger (60$) to claim there flares (10$).

And why would anybody with more than 100,000 flares sell them? Suppose someone holding 1 billion XRP/Flares: the XRP is worth 300 million dollars and the flares would be 100,000 $. If someone with 1 billion XRP would wait one day for the price of XRP to go from 0.30 $ to 0,31 $ he would make millions.

So I think the price of a flare will be higher than 0.0001 of will go much higher afterwards.

At a price of 0.0001 I will be ready to buy 10,000,000 flares right away for only 1,000$. I fear a lot of people are thinking the same...

 

 

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I think a lot of people are either unaware or forgetting that the actual airdrop won't happen until the network goes live (or around that time). Which means we will be waiting for the airdrop to happen sometime in the first half of next year when the network goes live.

Edit: If that factors into price I don't know, but we should have a much better picture of the amount of Spark available for the drop by then as well.

 

Edited by Wolfparty
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Edit:  With the help of Flintstone, I was able to determine that I am good with my issue I described below.  Thanks everyone for your help.
 

Sorry, I am unable to start my own thread at this point...

I followed all steps but when Updating my message key on xrptoolkit.com, I was met with repeating messages that says

Failed to fetch transaction result
An unexpected error occured

Do I need to delete the account and start over losing XRP in the process? I assume the process did not complete and I will not get my spark if I leave it this way.  This sucks!

The update button is now greyed out, all other information looks good, but I did not receive a successful window like all the all the youtube videos show.  Also https://flare.wietse.com/ shows congratulations, so I'm super confused here.  Ugh... Is there anyone that can verify what did or did not work here?

Anyone else run into this issue?  Help please.

@xrptoolkit can I get some assistance on this?

20201118_163932crop.jpg

Edited by sikryd
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34 minutes ago, sikryd said:

Sorry, I am unable to start my own thread at this point...

I followed all steps but when Updating my message key I was met with repeating messages that says

Failed to fetch transaction result
An unexpected error occured

Do I need to delete the account and start over losing XRP in the process? I assume the process did not complete and I will not get my spark if I leave it this way.  This sucks!

Anyone else run into this issue?  Help please.

I’m not an expert...  

Nah you don’t need to ‘throw away’ that account.  Setting the messagekey can happen repeatedly until you are happy with the result.

 
If I had to guess I would say the most likely thing is either you had a temporary network issue or you are using a scam site.

What steps where you following?

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23 minutes ago, BillyOckham said:

I’m not an expert...  

Nah you don’t need to ‘throw away’ that account.  Setting the messagekey can happen repeatedly until you are happy with the result.

 
If I had to guess I would say the most likely thing is either you had a temporary network issue or you are using a scam site.

What steps where you following?

I was not on a scam website, I'm a network engineer and I am always very careful with phishing and making sure I am where I need to be.  I was on xrptoolkit.com and flare.wietse.com. 
I made sure my Ledger firmware was up to date, created an address for my Ledger Eth account to receive spark, copied this in to the appropriate location in the flare website, then to xrptoolkit, connected my ledger, verified the ledger, went to properties, copied over the value from the flare.wietse.com to the message key location on the xrptoolkit site, clicked update, boom, errors. I added an attachment to my original post showing the errors. 

The update key is greyed out, so I am unable to update the message key again.  If I delete the key, it will allow me to enter a new message key, but this means I would have to go through the process over again.  So... ??? Should I do that?

Thanks in advance for your help

Edited by sikryd
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