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How to claim Flare Tokens for dummies?


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If you download Bithomp Tools to a usb stick, extract it on to your laptop and open the html file in your laptops browser, you’ll be able to generate an XRP key-pair and do the account set transaction.

To test, send 25 XRP from Kraken to the new address and then try an offline transaction with your new wallet and send 5 XRP back to Kraken.

You’ll need a QR code reader on your phone. Most modern phones have them built in to the camera app.

Edit: Once you’ve generated the wallet and tested that you’ve wrote down the key-pair correctly and done the test transactions back and fore to Kraken, you’ll need an ETH address before doing the AccountSet transaction.

https://kb.myetherwallet.com/en/offline/using-mew-offline/

Then follow Wietse’s instruction here: https://coil.com/p/wietse/Prepare-for-claiming-your-Spark-token-Flare-Networks-a-tool-for-XUMM-XRPToolkit/NkXJQUqpi

 

You may not need to do the ETH wallet just yet as Flare may have it’s own wallet up and running before the claim deadline next year. As long as you have your XRP in your new wallet for the snapshot, you’ll have 6 months afterwards to sort the AccountSet transaction. @Dogowner5 Can you confirm this paragraph regarding Flare wallet vs Eth wallet?

Edited by Flintstone
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For the benefit of all the new girls and guys reading this thread... If you do get a "hardware wallet" like a Ledger, your XRP tokens are not actually "stored on it." You could throw it into

If you download Bithomp Tools to a usb stick, extract it on to your laptop and open the html file in your laptops browser, you’ll be able to generate an XRP key-pair and do the account set transaction

The most annoying part of this is having the secret key of ETH-style account. The options I see are: Use some ETH wallet which supports showing the secret key directly. Like MEW. Then store

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1 hour ago, tar said:

Perhaps, a virtual machine would also work?

some other options are............

LInux on bootable usb. https://ubuntu.com/tutorials/try-ubuntu-before-you-install#1-getting-started

Tails for amnesiac linux. This also has options to disable networking on boot. https://tails.boum.org/install/

You can then have a secure operating system on any computer that you can boot from usb. Nothing is 100% safe though........

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34 minutes ago, mandelbaum said:

Celsius Network confirmed yesterday that they will support the Flare utility fork also.

https://youtu.be/wVYzS_0qD9E?t=2335

 

It looks tempting to store dormant XRP at a company like Celsius Network, but what I am always wondering with these newish companies, how do they handle legal stuff like the handling of what if you die in an accident or whatever. Normally you would have an executor of will, would Celsius Network comply with this executor and release funds to your heirs? Was that by chance also asked during the AMA? 

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5 hours ago, jn_r said:

It looks tempting to store dormant XRP at a company like Celsius Network, but what I am always wondering with these newish companies, how do they handle legal stuff like the handling of what if you die in an accident or whatever. Normally you would have an executor of will, would Celsius Network comply with this executor and release funds to your heirs? Was that by chance also asked during the AMA? 

They do weekly AMAs, I think they might have talked about customers being able to add the name of recipients of the funds if the owner passes away. They are very helpful wth questions, and are also looking for input from users.

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1 hour ago, thehurricane1888 said:

Hello all, I am brand new on here today, so please bare with me.

I have my  XRP on Coinbase, I know as yet they are not supporting the Spark token but I have bought a device to move my XRP if they do not support it closer to the date of December 12th. am I doing the correct thing here...?

Simple answer - yes, you have done the right thing by buying a cold storage device to hold your XRP. Assuming the device is widely recognised as secure and can hold multiple currencies, it's much better to use that than holding assets on exchanges, irrespective of the FlareXRP drop.

Just keep in mind that simply putting the XRP on the device does not automatically entitle you to the FlareXRP drop. You still need to create an ETH compatible wallet address and include that ETH wallet address on your XRP wallet as described by @Flintstone above.

His advice to download the tools and use them offline is best practice so please take note of that.

You still have plenty of time before the drop so it's a good opportunity to think about how best to maintain security on your computer and remembering never to share, upload or input your personal keys or passwords on any website or to any tools. Setting up for the FlareXRP drop requires no sharing or uploading of keys or passwords. If you hear otherwise, it's a scam.

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58 minutes ago, thehurricane1888 said:

Thank you very much for responding, i really appreciate it. however, I have purchesed a Ledger Nano S device to move my XRP. My plan is to move it from Coinbase into a platform that supports the Flare airdrop. then I will get my 1:1 spark token for my XRP.

 

Am I right here..?

Hi Hurricane. Yes, you can do that, but you should be making use of your Ledger Nano by storing your crypto on that instead of the exchanges.

As long as you have your XRP on your Ledger or participating exchange, you’ll be able to claim the Spark tokens.

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22 hours ago, Flintstone said:

Hi Hurricane. Yes, you can do that, but you should be making use of your Ledger Nano by storing your crypto on that instead of the exchanges.

@thehurricane1888 - I strongly urge you not to leave any meaningful amounts of crypto on any exchange. If you've been following the crypto news, I assume you will have seen the reports about the Kucoin hack - this only just happened yesterday: https://www.coindesk.com/hackers-drain-kucoin-crypto-exchanges-funds

These exchange hacker raids occur regularly so please think carefully about leaving your crypto on an exchange.

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On 9/26/2020 at 5:18 PM, Flintstone said:

Hi Hurricane. Yes, you can do that, but you should be making use of your Ledger Nano by storing your crypto on that instead of the exchanges.

As long as you have your XRP on your Ledger or participating exchange, you’ll be able to claim the Spark tokens.

sorry, just to confirm. if my xrp is on my nano ledger S on dec 12th, how will i get the spark tokens on 1:1 basis...?

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5 hours ago, thehurricane1888 said:

sorry, just to confirm. if my xrp is on my nano ledger S on dec 12th, how will i get the spark tokens on 1:1 basis...?

If your XRP is on your Ledger before Dec 6th for the XRP Ledger snapshot, You will still have 6 months after the 12th of December to claim the Spark tokens. By then, Flare may have their own wallet up and running, so you may not need to create an Eth wallet. So there is no rush at the moment. If your XRP are on your Ledger Nano, you can sit back and relax.

 

Also, let me just paint a picture in your mind regarding wallets, exchanges etc. Every address (wallet, key-pair etc.) on the XRP Ledger is like a plot of land. Once you activate a wallet, you have built your house upon that plot of land and it is yours only (unless you give someone your key). You may have heard the term 'Not your keys, not your crypto'.

You do not own a plot of land if your XRP are sitting on an exchange, because the exchange is one plot of land in the form of a giant skyscraper. Your account on the exchange is an apartment(Destination Tag) within the skyscraper. If your skyscraper is participating in the Spark airdrop, then you will receive mail(Spark) delivered to your apartment door. This is why exchanges that are not delivering mail to the tenants are being excluded from the Spark airdrop.

The trouble with skyscrapers though.....what if there is a fire? The whole plot of land is at risk of burning to the ground, just like Pablo stated above.

It's much safer to own your own plot of land and it's up to you to make sure you keep the door locked and the key safe.

Edit: So if you have your own plot of land in the form of a paper wallet (s**** r**** keys)/ Ledger Nano (passphrase) by Dec, you will have Spark hand delivered to your door from Flare. You have 6 months after delivery to figure out how to open the mail. Hopefully better instruction will be available by then.

 

Edited by Flintstone
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43 minutes ago, Flintstone said:

This is why exchanges that are not delivering mail to the tenants are being excluded from the Spark airdrop

I suspect strongly that in fact it is difficult for Flare to detect every non-participant exchange, and detect what wallets all those exchanges use.

So I think any exchange that does not participate will receive a lovely windfall.  
 

Even if the Spark are worth next to nothing,  the exchange wallets are big so they will have a large amount of Spark to dump which will be a nice windfall for them and a pestilence for those hoping for an initial good price.

I could easily be wrong about the initial large dumps...  they may hold longer term since it cost them nothing to gain those Spark.  It’s hard to enough to figure out what a economically rational actor would do...  far less a crypto actor.  :) 

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