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Spark tokens: Are you selling or saving?


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13 hours ago, JASCoder said:

Perhaps consider researching the historic pricing action of past airdrops, and gain some insight as for which might be the likely post-release behavior. 

IIRC, often in these cases you see an initial period of volatility, which when then settles out...
So could save you some post-trading stress, perhaps :)

I gotta say @JASCoder When you joined XRP CHAT I thought for a moment you are Hodor under new nickname because you joined at the same time as Hodor left this forum. ;)

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Perhaps consider researching the historic pricing action of past airdrops, and gain some insight as for which might be the likely post-release behavior.  IIRC, often in these cases you see an ini

My comment was tongue in cheek.  The air drop has brought their project and company huge positive publicity, however well they perform.  It has been one of the most successful launches by a completely

Saving. They will most likely be worth very little in the beginning anyway.

17 hours ago, Crypt0fin said:

It is 1:1 ratio from what I've heard and it depends upon how the market values the token when it hits the market. I'd say the first few minutes might show a high valuation but then the price will dither in as always. I might sell half at the right price and save the rest.

The ratio is higher than 1:1 actually, see my comment from Reddit below:

 

Quote

45B Spark will be airdropped to 'we the people' and exchanges. At the snapshot (12/12) there will be two groups: personal wallets (PW) and exchange wallets (EW). Let's say that the total number of XRP held are divided as such 15B PW, 25B EW. And then there is Jeds Wallet (JW); 5B

All of the Spark that could have been airdropped to non-participating EW's, are put together with the Spark that would have been airdropped to Jed. Let's say that only 10B of the 25B will be airdropped to participating EW's, that leaves 15B. Add Jed's +/- 5B (?) to that, making 20B to be evenly distributed among both the EW's and PW's.That would make the calculation:

initial drop + (not airdropped to unparticipating exchanges + jed) / (PW + participating EW)*XRP in your PW/EW)

If you would have 100.000 XRP in above example you would get:

100.000 + ((15B + 5B) / (15B + 10B)) *100.000 ) = 180.000 Spark

So the numbers to look for are:

# XRP held by participating exchanges, currently only 0.6B https://twitter.com/ronaldonline777/status/1327990656988540928
# XRP held by all exchanges (where to find this?)
# XRP held by all non-exchanges (PW's) (where to find this?)

 

Basically, if you read this; send your XRP to a participating EW or set up your wallet through Xumm or whatever. Then pray to Joe Pesci that no new exchanges participate in the airdrop, until it's too late. (Although, ofcourse we need exchanges to make the Flare Network 'work'.)

 

Edited by Gambaard
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36 minutes ago, Gambaard said:

The ratio is higher than 1:1 actually, see my comment from Reddit below:

 

 

You know they aren't entirely evenly distributed some of the tokens will be burned as well:

 

Flare:

"What happens to Spark that is not claimed 6 months after the date of the snapshot?

They are burned."

 

https://flare.ghost.io/claiming-spark-faq/

 

However, your statement is somewhat correct:


Flare:

"The right to claim the 45 Billion Spark tokens will then be apportioned to each remaining address according to their proportional XRP balance in the snapshot. This may result in valid claimants receiving more than 1 Spark token for each XRP token that they hold. This is due to non participating exchanges being excluded from the distribution but being counted in the 45 Billion tokens that are distributed today."

 

As a side note, what do you think of this pump for XRP? Do you think it collates to the Spark airdrop or the rise in dollar value of BTC which results in a rise in dollar value of other alts such as XRP? Or a bit of both?

Edited by Crypt0fin
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2 minutes ago, Crypt0fin said:

You know they aren't entirely evenly distributed some of the tokens will be burned as well:

 

That's correct, but only the tokens that will not be claimed by individual wallets. So that has nothing to do with the ratio. Either you claim 1.8 (in example above), or claim nothing at all (and you token will be burned)

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24 minutes ago, anteksiler said:

I have not claimed them yet, do I have to?

You don’t have to if you don’t want them. There’s plenty of tutorials on the forum on how to claim from your ledger or you could just send your XRP to a participating exchange and they will claim the tokens for you 

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5 hours ago, Spartaksus said:

I gotta say @JASCoder When you joined XRP CHAT I thought for a moment you are Hodor under new nickname because you joined at the same time as Hodor left this forum. ;)

I'm truly not worthy of such a generous complement !
But thank you for your kindness. 

Hodor's incredible contributions to educating us moonbois with his insights and knowledge were a godsend to helping me keep the faith thru the dark times we've endured since 2017. I know he too is a dev, and I kept wondering why he put so much personal energy into helping educate us, the faceless and feckless :)

He even tried to pay me zerps for helping proof his blog posts lol - what a role model !
His patient and tireless posts and blog entries finally inspired me to start researching and coding scripts to dig deeper into the web of APIs and their dynamics.
I guess he's influenced me to try and help others out with what little insights and experience I can offer; for me, he is a mentor figure :) 

I was not surprised when he finally capped his pen, and vanished into what I assume is into one of the many opportunities for innovation and is no doubt deep into some developments project in this exploding field of FINTECH.

Now, also a path I too am blundering down.
Heh.

Cheers friend.

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20 hours ago, Spartaksus said:

I´ll buy more if it is dirt cheap. Maybe Spark will be ETH 2.0, who knows.

Pretty sure that's their main game plan; they based the Flare smart contract logic off of Ethereum for a reason, it's the current defacto standard. But this dog scales up, hopefully many devs migrate over to Flare and take full advantage.

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4 hours ago, JASCoder said:

I'm truly not worthy of such a generous complement !
But thank you for your kindness. 

Hodor's incredible contributions to educating us moonbois with his insights and knowledge were a godsend to helping me keep the faith thru the dark times we've endured since 2017. I know he too is a dev, and I kept wondering why he put so much personal energy into helping educate us, the faceless and feckless :)

He even tried to pay me zerps for helping proof his blog posts lol - what a role model !
His patient and tireless posts and blog entries finally inspired me to start researching and coding scripts to dig deeper into the web of APIs and their dynamics.
I guess he's influenced me to try and help others out with what little insights and experience I can offer; for me, he is a mentor figure :) 

I was not surprised when he finally capped his pen, and vanished into what I assume is into one of the many opportunities for innovation and is no doubt deep into some developments project in this exploding field of FINTECH.

Now, also a path I too am blundering down.
Heh.

Cheers friend.

For me, this response, is a silver lining proof, that JASCoder is indeed, maybe, possibly, technically, de facto, is/are Hodor!!!

:acute:

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On 11/21/2020 at 6:55 AM, Spartaksus said:

I gotta say @JASCoder When you joined XRP CHAT I thought for a moment you are Hodor under new nickname because you joined at the same time as Hodor left this forum. ;)

Hodor did say he would be joining the forums under a new identity and would try his hands at coding. JASCoder inboxed me some good javascript code for mnemonic word lists that I'll be adding to a mobile wallet once I have support for regular keys working

As far as spark, flare goes. I'll be holding and contributing code for the cause. It seems promising. The only thing I don't like is the massive holdings by the founders but that seems to be working for ripple adoption. Hurting XRP in the short term though 

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2 hours ago, benstr said:

Flare's distribution approach seemed design to help price rise. Thus holding is the wiser decision.
https://blog.flare.xyz/further-information-on-the-spark-token-distribution/

My understanding is that the network is driven by participation. Those that don't participate and merely hold will see their value decrease due to inflation (which flows to those who do participate)

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5 hours ago, aye-epp said:

My understanding is that the network is driven by participation. Those that don't participate and merely hold will see their value decrease due to inflation (which flows to those who do participate)

But they do have a sweet spot for hold AND participate.  I forget what it’s called but you will be able to put your Spark to work RISK FREE (exchanges, hacks ect excluded) to earn interest.  So participating AND holding.

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