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Flare, where will it be possible to purchase on Q2


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I am a long time lurker on this site and don't post much I must admit I don't hold a significant bag of XRP and only recently started buying again, I missed the snapshot for Flare/Spark and have yet to do extensive research into the project. From the research I have done I gather it has some significant real world use and will be a great tool for XRP in general.

My question is where will Spark tokens be available to purchase come Q2 and approximately how much will the coin be valued at?

I know some of this is guess work but I would appreciate the answers lol, thanks in advance.

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1 hour ago, SauronRings said:

I am a long time lurker on this site and don't post much I must admit I don't hold a significant bag of XRP and only recently started buying again, I missed the snapshot for Flare/Spark and have yet to do extensive research into the project. From the research I have done I gather it has some significant real world use and will be a great tool for XRP in general.

My question is where will Spark tokens be available to purchase come Q2 and approximately how much will the coin be valued at?

I know some of this is guess work but I would appreciate the answers lol, thanks in advance.

You can buy IOUs right now on Bitrue and Poloniex, plus a bunch of other exchanges in other countries. On Bitrue, when the network goes live you will receive 1-1 in spark the IOUs you hold. On Polo you will only receive 15% on the first day, and then 3% a month after that according to the Flare Network distribution schedule. That is why the price on Polo is less than a third of what it is on Bitrue.

How much will the coin be valued at? If you find out let me know :lol: On Bitrue right now it is trading at 32 cents. Bear in mind that this price could be highly inflated for several reasons. 1) the only supply of Spark on Bitrue is the numbers of xrp there were on there. There is no more supply coming in. Cap on supply means if demand is there the price will go up. Also spark is trading against xrp on Bitrue, and for whatever reason it is being kept in a tight range, meaning when xrp spikes flr also spikes. Why this is happening is anyone's guess.

My working assumption right now is that the price of FLR on the day of the launch will be lower than it is right now. I have already bought some and plan to buy more when the network launches. I would guess that on launch there will be a lot of dumping, on Bitrue maybe as low as 18 cents, on Polo maybe as low as 4 cents. It is very difficult to know a 'reasonable' price for FLR right now. 

My other working assumption is that the price of FLR will be higher a year from now, and higher than that a year after that. You get my drift. Not financial advice. 

Edited by Seoulite
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4 minutes ago, Seoulite said:

You can buy IOUs right now on Bitrue and Poloniex, plus a bunch of other exchanges in other countries. On Bitrue, when the network goes live you will receive 1-1 in spark the IOUs you hold. On Polo you will only receive 15% on the first day, and then 3% a month after that according to the Flare Network distribution schedule. That is why the price on Polo is less than a third of what it is on Bitrue.

How much will the coin be valued at? If you find out let me know :lol: On Bitrue right now it is trading at 32 cents. Bear in mind that this price could be highly inflated for several reasons. 1) the only supply of Spark on Bitrue is the numbers of xrp there were on there. There is no more supply coming in. Cap on supply means if demand is there the price will go up. Also spark is trading against xrp on Bitrue, and for whatever reason it is being kept in a tight range, meaning when xrp spikes flr also spikes. Why this is happening is anyone's guess.

My working assumption right now is that the price of FLR on the day of the launch will be lower than it is right now. I have already bought some and plan to buy more when the network launches. I would guess that on launch there will be a lot of dumping, on Bitrue maybe as low as 18 cents, on Polo maybe as low as 4 cents. It is very difficult to know a 'reasonable' price for FLR right now. 

My other working assumption is that the price of FLR will be higher a year from now, and higher than that a year after that. You get my drift. Not financial advice. 

I really appreciate the response it was informative and well wrote I'll have to look into flare on exchanges that server EU.

Flare looks like a very promising project and will be a coin I can diversify into. I appreciate your speculation regarding price it's super helpful (especially as a student with limited funds) I shall wait for launch as I planned to do anyway to accumulate a decent enough stack of fiat to purchase the tokens.

Again thank you for the informative information and if you hadn't put in that "this is not trading advice" disclaimer I would've had to do an SEC and sue the shit out of you 🤣

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19 minutes ago, SauronRings said:

that "this is not trading advice" disclaimer I would've had to do an SEC and sue the shit out of you 🤣

I am helpful and try to work with you then you turn around and f**k me... very SEC.

I just realized that I didn’t answer your question. We don’t yet know what exchanges FLR will be listed on (except for bitrue 100%). The assumption is that since virtually all major exchanges supported the airdrop, they will need to create FLR wallets for all their eligible customers. Since they are doing that anyway it doesn’t seem like a big stretch to argue that they will also want to facilitate their customers selling of FLR too. I am expecting a decent number of exchanges to list FLR pairs right out of the gate.

Edited by Seoulite
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On Polo you will only receive 15% on the first day, and then 3% a month after that according to the Flare Network
 

if I buy 5,000 FLR coins, I will only get the full 5,000 FLR in about 2 years according to the distribution, correct?

Does that mean when DAOflare or any other airdrop comes I will only get 15% if I was only distributed 15% of my FLR coins? Or will I get the full 5000 of my original? Thank you! 

 

Edited by XRPnoob007
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6 minutes ago, XRPnoob007 said:

On Polo you will only receive 15% on the first day, and then 3% a month after that according to the Flare Network
 

if I buy 5,000 FLR coins, I will only get the full 5,000 FLR in about 2 years according to the distribution, correct?

Does that mean when DAOflare or any other airdrop comes I will only get 15% if I was only distributed 15% of my coins? Or will I get the full 5000 of my original? Thank you! 

 

So bitrue is selling FLR for roughly .3 per coin. Is that an IOU? That’s expensive if I need a few thousand. Polo is at .08 per coin. What’s the difference? Bitrue you will get the full coin and polo you get 15% upfront and 3% a month every month for next 2 years roughly? What a rip off haha sorry. I wish I could get a full coin now because when DAOflare airdrop comes I want to get the full amount not 15% and have to buy the rest. 

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Last question sorry. I read this:

How can I deposit or withdraw XFLR?
XFLR is an IOU token and cannot be deposited into or withdrawn from your account. Deposit and withdrawal functionality will be shown as “Disabled” in your Poloniex Wallet.

does that mean I have to wait until it’s converted into a spark token before I can move it to my wallet? Or will I never be able to withdraw and only can trade it?  Thanks guys for helping an older guy just trying to catch up with this technology. 

 

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1 hour ago, XRPnoob007 said:

On Polo you will only receive 15% on the first day, and then 3% a month after that according to the Flare Network
 

if I buy 5,000 FLR coins, I will only get the full 5,000 FLR in about 2 years according to the distribution, correct?

Does that mean when DAOflare or any other airdrop comes I will only get 15% if I was only distributed 15% of my FLR coins? Or will I get the full 5000 of my original? Thank you! 

 

In about 2 years and 1 months according to my calculations 15% instantly and 36% yearly. I'm not entirely sure about the airdrops and you can only receive them if you had XRP on an exchange or XRPL at the time of the snapshots.

 

28 minutes ago, XRPnoob007 said:

Last question sorry. I read this:

How can I deposit or withdraw XFLR?
XFLR is an IOU token and cannot be deposited into or withdrawn from your account. Deposit and withdrawal functionality will be shown as “Disabled” in your Poloniex Wallet.

does that mean I have to wait until it’s converted into a spark token before I can move it to my wallet? Or will I never be able to withdraw and only can trade it?  Thanks guys for helping an older guy just trying to catch up with this technology. 

 

The token is currently in it's IOU's as the network is not live so until the Flare Network is live in Q2 you will not be able to move your tokens off exchanges as you won't have an tokens until the Network goes live. After it goes live you'll be free to move your tokens from the exchange to a wallet or to stake them on the Flare Network. 

Hope this helps I've yet to do extensive research into the token so I apologise for my limited knowledge.

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