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Passive Income Opportunities in Flare


brianwalden

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4 hours ago, BillyOckham said:

Maybe I’m just thick but this seems very muddled and fraught to me.

 

These guys should have already prepared doco for all this but like many IT projects that’s an afterthought.  I’m now less impressed with their planning than I was previously.

I hope all this clarifies soon.

Yeah this is a white paper so it's supposed to be high level and abstract. It's not documentation or a user manual.

This is crypto, mate! You dump your coins into the magic black box and hope that more of them come out the other side.

Edited by brianwalden
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On 5/19/2021 at 6:39 AM, brianwalden said:

1) FLR Rewards - If you hold FLR on the network you can vote for FTSO data providers and earn a share of their rewards. The vote is detachable from your FLR, so your coins never leave your wallet. There's no risk (assuming the Flare Network itself works correctly); the worst that can happen if you vote for a horrible data provider is you won't earn any rewards. Rewards are distributed based on time not how many votes there are - the same reward will be split among the winners every so-many blocks whether 100 people vote or 1 million. Your slice of the pie is obviously going to be a lot bigger when it's split fewer ways, so one of the best things you can do is get in and vote as soon as the network launches. Beat the crowds and scoop up some early, big rewards payouts.

Great summary thanks @brianwalden, I found it very informative.

I found this article here (https://www.alphaoracle.io/flare-network/signal-providers/) to also provide a good summary regarding Signal Providers and delegating voting.

Has anyone come across a list of the likely (initial) data providers that we can choose to vote for? 

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19 minutes ago, Zerps said:

Has anyone come across a list of the likely (initial) data providers that we can choose to vote for? 

This website has a running list here, although glancing at it now it seems a bit short. I think there are a few more, but anyway. Quite a few signal providers have come forward, many are now active on twitter. We even have one active in this club @FTSO_AU which I think is great. Community engagement and just brand awareness is obviously going to help get people to delegate, as long with a bunch of other factors. Speaking for myself I place more premium on working with professionals that I can trust rather than trying to chase the best returns. 

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Just now, Seoulite said:

This website has a running list here, although glancing at it now it seems a bit short. I think there are a few more, but anyway. Quite a few signal providers have come forward, many are now active on twitter. We even have one active in this club @FTSO_AU which I think is great. Community engagement and just brand awareness is obviously going to help get people to delegate, as long with a bunch of other factors. Speaking for myself I place more premium on working with professionals that I can trust rather than trying to chase the best returns. 

Thanks @Seoulite. Had just discovered the post with @FTSO_AU chipping in. I agree it's good to see the community engagement, which is what we really need to make the Flare Network a success long term. Rather than trying to squeeze every last $ out of this thing in the short term.

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  • 3 months later...
50 minutes ago, Dlee said:

Why is everyone talking about using their sgb like they already have theirs? I must have missed out on something bc I'm still waiting to receive mine 

If you had XRP in your own wallet for the snapshot, you have already received your SGB. If it was on an exchange, the earliest you will receive it is September 27, and that depends on if your exchange is participating or not.

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  • 2 weeks later...

Thank you Brian Walden for your help.It led me straight to the part I was missing out on.now I have mine as well and have been using them.since I have to work long hours every day I don't get to read or see a lot of the information passed around and so I try to catch up in what little free time I have.thank you very much for your help.

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  • 2 months later...
On 5/18/2021 at 7:39 PM, brianwalden said:

There are a number of other projects like Handshake

Did you see this? Sh*t's gettin' real!

https://blogs.opera.com/news/2021/12/opera-handshake-hns-partnership/

Quote

“A truly democratized Web 3.0 can only be fully realized once we’ve moved onto new infrastructure. Handshake is a critical piece of the puzzle to make that paradigm shift. Opera pioneering the path forward as the first major browser to support HNS speaks to its forward-thinking vision and positioning in the browser space. This partnership just marks the beginning of the work that lies ahead for building a decentralized web,” 

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  • 2 months later...

To put it simply, the Flare Network is a new way to scale networks that do not support smart contracts. It combines several powerful features to create an ecosystem of decentralized applications. But as a source of passive income, this is a very dubious option. It is intended as an active source of income, at least because you need to spend a lot of time on this network, preferably daily. If anyone is looking for ways to make passive income, here is a very helpful moneyunder30.com article on 7 easy ways to start investing with little money.

Edited by Facelesss
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