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If the SEC had never happened, would the XRP community be more excited about Flare?


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21 minutes ago, PunishmentOfLuxury said:

I'm not saying FLR won't increase in price - it may well do. But what the network needs for longevity and sustained price elevation is real world use by sizeable economic actors, not crypto fanbois finding greater fools to sell to.

I mean look at Ethereum, hundreds of tokens, tons of devs, but what is its impact on the financial system outside of crypto? Pretty much nil, so far.

I think the advent of DeFi over the past few years is a good starting use case. Cryptos in general have kind of failed as currencies, they don't have the legal framework necessary to make it work, they're too slow, and too expensive (with a few exceptions). But they've become wonderful stores of value. I think the high-speed and low-fees of Flare is going to attract some attention from the DeFi market.

Yes, this is still within crypto, but it's an industry with a lot of potential. Most of crypto is people holding onto big bags of coins, which is kind of sad. This at least puts them to work. The real question is will this make the jump to making real time payments and will the XRPL be involved in that? I don't know.

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I feel like I must be missing something huge right now because I think Flare is going to be massive for XRP and massive in its own right but so few people seem to be talking about it, let alone excite

Absolutely right; FLR is huge and it makes XRP huger   Ripplenet + XRP + ODL + Spark (SC and Defi)  - what a combination of assets it was for .26 cents.  Truly was the bargain of a lifetime.

@WarChest, a simplified summary - 1. Flare has the runtime environment of Ethereum, with a different consensus mechanism. I won’t go into details of the consensus mechanism here. 2. Flare ca

3 hours ago, PunishmentOfLuxury said:

I agree that it's potentially very exciting, but the system has to be USED to have long term value. Until the real world is using Flare smart contracts for real purposes, shifting real money, it's just a speculation token circle jerk. 

Yeah, and by "used" not just "you can use it to trade more useless tokens back and forth for no reason!" as per current defi systems :D 

3 hours ago, Seoulite said:

We are at the centre of one of the biggest and most exciting projects to open in crypto in recent memory. Why aren't we more psyched? 

I'm definitely psyched for it – it's a really exciting project. I just feel, as usual, the comms around it were a bit confusing esp. re: Flare vs Flare Finance, YFLR, DFLR, etc etc, then Dogecoin, Litecoin... all a bit out of nowhere. I don't disagree with any of it, just felt the project communication could have been better. It ended up, as always, the community having to scramble to make YouTube vids to explain what the hell was going on, and many of them got it wrong (esp. re: the 15% allocation part) and thus misinformation spread like wildfire.

All in all, I'm excited and the passive income opportunities are great. I just hope it doesn't become something which claims utility, but ends up just trading other useless tokens back and forth, like every other defi project.

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7 hours ago, brianwalden said:

I'm excited. I want to learn more, but it's hard to find good resources. The thing with crypto in general is that 99% of the people are just in it hoping the prices go up. That's fine, they can be interested for whatever reason they want. But it's hard to find people who really want to understand the technology, it's capabilities, and potential.

This is exactly what I used to say regarding the nascent Internet back in the 90's.

I'd ask if they had an email address, and they'd say, naw, I can't be bothered with that.

The head of IBM once said, (paraphrasing) "there's absolutely no reason why everyone would need to have their own computer."

It's applications that make new disruptive tech accessible to the unwashed masses. 

The stock markets went thru a MASSIVE change once eTrade and others came online.
I used to have to phone my stock broker, tell him what I wanted, mail him a check, then he'd acquire the stock I asked for.

We crawl, we walk, we run :) 

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7 hours ago, PunishmentOfLuxury said:

I'm not saying FLR won't increase in price - it may well do. But what the network needs for longevity and sustained price elevation is real world use by sizeable economic actors, not crypto fanbois finding greater fools to sell to.

I mean look at Ethereum, hundreds of tokens, tons of devs, but what is its impact on the financial system outside of crypto? Pretty much nil, so far.

I am assuming that you haven't had a chance to dig deep in to Coston (Flare's Blockchain).

  1. Flare is 100% Ethereum compatible. Any smart contract that works on Ethereum can be deployed on Coston with close to zero changes.
  2. Flare is designed to be extremely fast. More importantly, the token that's used for transaction fees and governance (FLR) does not secure the network. This means that gas fees are always low. 
  3. Flare brings smart contracts to not just XRP but many other blockchains. 

Flare certainly has the ingredients to be able to displace Ethereum. The rest is up to the developers and the community. 

That said, your point about the impact on financial system outside the crypto is perfectly accurate. These are really early days. We'll get there, but slowly. Until then, everyone's gambling, hoping to have bet on the right horse while the right approach is to probably actually build in crypto rather than hodl.

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I haven’t had any email from Bitstamp regarding Flare either. But I haven’t made any enquiries about it yet. I just assumed that when the drop happens I’ll get my 15%. 
 

I guess I’m not so excited by flare because it seems you need to participate to really benefit. And I just don’t understand how. I’ve tried but so far it’s like reading gobbledegook.  
 

As I’ve stated many times on this forum I’m way below most of all your levels of tech knowledge. But still I’m probably ahead of many. I have at least set up 3 different exchanges and a Nano, bought a variety of crypto, (of course primarily XRP), and transferred between wallets. This probably seems to be like child’s play to you all but I’m guessing it’s still more than most have done. I guess my point is the learning curve for the majority is steep and lies ahead... it’s been said over and over that we are early...

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1 hour ago, Chookstar said:

I guess I’m not so excited by flare because it seems you need to participate to really benefit. And I just don’t understand how. I’ve tried but so far it’s like reading gobbledegook.  

Wallets are being built as we speak that will make all of it pretty easy. What I am guessing is it will be a browser based wallet from which you can do pretty everything basic: delegating, getting rewards, etc. Let's wait for the wallets to come.

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On 2/11/2021 at 2:45 AM, Chookstar said:

I haven’t had any email from Bitstamp regarding Flare either. But I haven’t made any enquiries about it yet. I just assumed that when the drop happens I’ll get my 15%. 
 

 

Have not received an email form Bitstamp either. I have contacted support today, if I ever have an answer I will post it.

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On 2/12/2021 at 8:32 AM, RussianStandards said:

Fwiw, I emailed 2 weeks ago and still nothing so don’t expect.

Today, I received following email..
 

Quote

thank you for reaching out and please accept our sincerest apologies for the delayed response.

Please note that we should be providing an update regarding the XRP balance snapshot in the shortest time possible. Therefore, we would kindly ask for your patience on the matter in question.

Should you require any additional assistance, we remain available.

whatever ...

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On 2/11/2021 at 2:45 AM, Chookstar said:

I haven’t had any email from Bitstamp regarding Flare either. But I haven’t made any enquiries about it yet. I just assumed that when the drop happens I’ll get my 15%. 
 

I guess I’m not so excited by flare because it seems you need to participate to really benefit. And I just don’t understand how. I’ve tried but so far it’s like reading gobbledegook.  
 

As I’ve stated many times on this forum I’m way below most of all your levels of tech knowledge. But still I’m probably ahead of many. I have at least set up 3 different exchanges and a Nano, bought a variety of crypto, (of course primarily XRP), and transferred between wallets. This probably seems to be like child’s play to you all but I’m guessing it’s still more than most have done. I guess my point is the learning curve for the majority is steep and lies ahead... it’s been said over and over that we are early...

Got the same email as Triceratops did to my question to BitStamp so...we wait!

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On 2/9/2021 at 9:09 AM, Seoulite said:

I feel like I must be missing something huge right now because I think Flare is going to be massive for XRP and massive in its own right but so few people seem to be talking about it, let alone excited about it.

Answering the OP. Honestly, Flare confuses the life out of me, I have qualified for the airdrop,  but have no idea what to do with the tokens once I can store them in a wallet. I think that may be why they aren’t being talked about so much by average Hoddlers

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11 minutes ago, WarChest said:

Answering the OP. Honestly, Flare confuses the life out of me, I have qualified for the airdrop,  but have no idea what to do with the tokens once I can store them in a wallet. I think that may be why they aren’t being talked about so much by average Hoddlers

I too am trying to get up to speed on the details of optimal actions to pursue when the network goes live, and we're gifted our share of the airdrop.

From what I've gleaned so far, it's apparent there are early user opportunities that will get consumed by the initial participants.

Additionally, just "hodling" will not be an optimal strategy, as there will be pressure of inflation in effect, which will benefit active users, and penalize inattentive hoarders. 

So for those of us with the time and motivation, it could be rewarding to study the topic, participate in the public beta, and be ready for the Great Token Acquisition Rush which will likely playout after the network's launch.   

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