brianwalden Posted May 22, 2021 Share Posted May 22, 2021 Doge Militia recently did a very long interview with Hugo where he gave a lot of information. It's a wide-ranging interview, I can't really summarize it: BillyOckham, PunishmentOfLuxury and Seoulite 3 Link to comment Share on other sites More sharing options...
BillyOckham Posted May 22, 2021 Share Posted May 22, 2021 20 minutes ago, brianwalden said: It's a wide-ranging interview, I can't really summarize it: Yeah, but wen moon? Link to comment Share on other sites More sharing options...
brianwalden Posted May 22, 2021 Author Share Posted May 22, 2021 Just now, BillyOckham said: Yeah, but wen moon? May 26 PlanK 1 Link to comment Share on other sites More sharing options...
brianwalden Posted May 22, 2021 Author Share Posted May 22, 2021 Oh I forgot to warn you. The background noise is horrible, at one point I heard a toilet flushing. But it's worth sticking it out for the content. BillyOckham 1 Link to comment Share on other sites More sharing options...
BillyOckham Posted May 22, 2021 Share Posted May 22, 2021 Just now, brianwalden said: May 26 Thank you sir! First time I’ve got an answer to that. I will call my lambo dealer for an appointment on May27th. Oh and, perhaps not unrelated, thanks for the Flare info. Link to comment Share on other sites More sharing options...
brianwalden Posted May 22, 2021 Author Share Posted May 22, 2021 (edited) 3 minutes ago, BillyOckham said: Thank you sir! First time I’ve got an answer to that. I will call my lambo dealer for an appointment on May27th. Oh and, perhaps not unrelated, thanks for the Flare info. I mean, if I were you I would just go all in in with your down payment now. Why wait when that moon is a sure thing? Edited May 22, 2021 by brianwalden Oops, there I go spreading FUD again. BillyOckham and Seoulite 2 Link to comment Share on other sites More sharing options...
Seoulite Posted May 22, 2021 Share Posted May 22, 2021 Listening now. This is the interview I caught the end of yesterday when he talked about exchange listings. Near the beginning he says he is aware of wallets that are being created that will handle all the delegation of your votes, and also your F-asset rewards right there in the wallet. What we expected, just need to see the details of those wallets now. Will add comments as I listen if there's anything that stands out. brianwalden and BillyOckham 2 Link to comment Share on other sites More sharing options...
Seoulite Posted May 22, 2021 Share Posted May 22, 2021 27 minutes ago, brianwalden said: Oops, there I go spreading FUD again. So lazy…. BillyOckham 1 Link to comment Share on other sites More sharing options...
Seoulite Posted May 22, 2021 Share Posted May 22, 2021 (edited) Ok this is exactly what Hugo says about tax (around 1 hour 10 minutes into the vid): first he caveats a lot that this is absolutely NOT TAX ADVICE "We have spoken to a really really really highbrow tax lawyer from Harvard. He's written a memo for us. There's a specific way that you receive the flare distribution, so you receive 15% at zero, and that genuinely is delivered at zero cost. If you want the other 85%, you will be burning some of your spark tokens, not many, not much, they don't have any value, in order to receive that. And that is considered a 'payment', in order to receive the remaining 85%. You've paid for those tokens, basically, at day one, at basically zero value. So that means that you can then, well according to the memo (and again this not tax advice, etc etc etc), essentially that absolves you from, basically you would still be receiving tokens, and you would still essentially be taxable on them, but your basis for the tax is zero. And so you would obviously pay a capital gains tax when you sell them, and that's the same with any asset. The IOUs are not anything to do with it. You can't use an IOU as a basis to say there's a price. That would be like saying the derivatives market for the SNP500 in December 2021, that's the price of the SNP500 now, it's just incorrect. [...] So they are delivered at zero value. You'll have to burn some spark tokens, but it's not going to be hefty (british translation: a lot, heavy). Don't quote me on it, we need to release whatever we can release, properly. I simply say that the tax burden is gonna be zero or minimal, rather than trying to give a mechanic on it." Edited May 22, 2021 by Seoulite BillyOckham, JoeBishop and JASCoder 3 Link to comment Share on other sites More sharing options...
PunishmentOfLuxury Posted May 22, 2021 Share Posted May 22, 2021 (edited) Listening to it now. Some notable points I've picked out of it so far: "Wanchain is laughable". Flare is based upon the DAI model. Network likely to go live end of June, but waiting on security assessment so timeline could slip. For minting F-assets, the agents will be in a market, so the lowest fees will be consumed first. Hopefully in time an equilibrium between minting demand and collateral supply will be reached and fees will stabilise. Hugo does not expect the SEC vs Ripple case to have any effect on the Flare network. A lot of crap is being written about Flare in the crypto media, yet not one journalist has approached them for an interview. Edited May 22, 2021 by PunishmentOfLuxury Seoulite, jn_r and JASCoder 3 Link to comment Share on other sites More sharing options...
Seoulite Posted May 23, 2021 Share Posted May 23, 2021 Another point I liked from it is he confirms that he is in firm direct contact with the core LTC developers, in a bit weaker contact with XRP, and in the course of the interview several people arranged to connect him up directly with the DOGE core devs. Very positive. PunishmentOfLuxury and QWE 2 Link to comment Share on other sites More sharing options...
brianwalden Posted May 23, 2021 Author Share Posted May 23, 2021 On 5/21/2021 at 11:08 PM, brianwalden said: I mean, if I were you I would just go all in in with your down payment now. Why wait when that moon is a sure thing? I got bad news about that Lambo, @BillyOckham... BillyOckham and QWE 2 Link to comment Share on other sites More sharing options...
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