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Distribution chaos (again)


Seoulite
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1 minute ago, WarChest said:

I’ve watched this video, understand the proposal, will vote yes.

Hugo and his team have worked hard to create this project and are trying to mitigate the problems for those that use exchanges for the distribution. It will help project too.

 

... and that's what I meant to say and present.... well done!

 

Please though, anyone with questions, watch the video in its entirety with an open mind!

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12 hours ago, FOOD said:

Once you receive your 15% gifted FLR from holding XRP, you can then delegate to an ftso which will trigger the 85% that was originally going to be paid out in the same manner (2-3% per month for 36 months) but will not be in the hands of exchanges per new processes.... and you will indeed need to keep those original 15% delegated...

It wont trigger that 85%, because that 85% is a fixed amount on a colective pool so you would be "competing" for the pool resources with other participants. That's why you would need to add to your initial 15% every additional reward or else you would lose proportionally. You need to compound your initial 15% with the rewards, to get the remaining 85%.

The real idea behing this proposal is to "diversify" the original airdrop with new participants (aka NOT the XRP Snapshot ones).

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3 hours ago, ****** said:

It wont trigger that 85%, because that 85% is a fixed amount on a colective pool so you would be "competing" for the pool resources with other participants. That's why you would need to add to your initial 15% every additional reward or else you would lose proportionally. You need to compound your initial 15% with the rewards, to get the remaining 85%.

The real idea behing this proposal is to "diversify" the original airdrop with new participants (aka NOT the XRP Snapshot ones).

I don't think that's right.... perhaps "trigging the 85%" is not the correct way to describe this... did you watch (listen to) the video above?  It seems like the 85% might actually end up being well over 85% due to sellers and people who do not delegate, as that all rolls into the "85% rewards pool"...

... so you the 2-3% drops you would indeed need to put back in, but the ftso rewards given weekly you can cash out, keep, exchange, or put back in.... (but have to admit, I'm not 100%)...

Edited by FOOD
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Very simple math: You had 100 XRP at Snapshot time, you think you will get 15 FLR and then 85 FLR if you dont sell the initial 15 FLR and just delegate it? No, you wont.

You think you will get 100 FLR in 36 months if you delegate the initial 15 FLR aidrop and then every airdrop. No, you wont.

Why not? Because someone will delegate 15 FLR + every airdrop + every weekly "normal" reward. So that someone will get "more" FLR from the same FIXED airdrop pool. Therefore someone will get LESS FLR.

If you expected to get 100 FLR (per 100 XRP) just because you will delegate the initial airdrop and every monthly airdrop, you'll find an evident deviation (from the expected target) after a short 6 months period and only then you will discover the reason why.

Edited by Gringo
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36 minutes ago, ****** said:

If you expected to get 100 FLR (per 100 XRP)

Perhaps I’m missing something but none of us earned these hoped for FLR did we?  
 

Some mob on the interwebs decided to gift them to us and is adjusting their process as things evolve.  So we will get some gifted amount that may or may not be exactly equal to our hoped for amount.  By participating in the network we can maximise our gifted amount.

Whatever they variation turns out to be,  the slightest price move in the market will swamp that variation.

So it seems to me there really shouldn’t be much angst about this, but maybe I’m just out of touch with how the main population views things.

 

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* If you think that FB has "gifted" the service to their users or if you think that "twitter" gifts their service to the user you miss the point that the value is in the network (the people using it)

* Flare Network used the XRP community as a starting point to create value for their proyect and got funding from Ripple itself. And the promise for XRP holders was: 1 FLR = 1 XRP at snapshot time.

All this time FLR got a lot of XRP users "working" for free in the same way FB has users "working for free", because the real product of every network are the users.

Now Flare Network has a capital alocation "problem". FLR is the "capital" and they want to use the SAME capital distributed along a wider range of users.

And that is the reality: it means "reallocating" already promised capital to other people.

They could use "Flare Foundation" FLR for creating "new users" network effect but instead they want to use FLR already promised to the XRP community at Snapshot time and in a tricky way: not admiting what they are doing. They just say: "Don't worry, if you don't sell the initial 15% everything will be exactly as promised". And you know what? That is a mathematical evident lie.  

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57 minutes ago, ****** said:

If you think that FB has "gifted" the service to their users


Um,  thanks for the straw man education.  I’m betting that no one here thinks that.

You seem upset that a mob told you that you would get 100 snickers bars for free now wants you to accept a slightly lesser amount unless you participate in their online game.

Upset that you’ll get gifted less than they and you initially thought.  That seems a fairly unsupportable position to hold….

 

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24 minutes ago, BillyOckham said:

Upset that you’ll get gifted less than they and you initially thought.  That seems a fairly unsupportable position to hold….

 

There is NO "gift" at all, that's the point. Flare Network said: you have X amount of XRP at snapshot time then you will get X amount of FLR. Flare Network is nothing without an user base from day 0. Flare Network is "gifted" a user base (the XRP community at snapshot time) and being part of the XRP community is not free, you need to actually have XRP to be part of it.

Then Flare Network worked on the network effect of the XRP community to generate a certain value for their own network.

And now, Flare Network wants to take away a certain amount of that value from the community that generated it in the first place.

Because the value is in the network (the users).

What really makes me upset is that Flare Network MODs on Telegram are misrepresenting the proposal, for example:

***************************
User: "I have to keep the wrapped 15% for the 3 years on one address to get the remaining 85% in full"

Flare Network MOD (Tom T): "To receive your monthly distributions for the full duration of the 36 months, yes"
****************************

He (Tom T) is misleading the public with his answers. With such an answer they would think that just delegating the initial 15% they would get the remaining 85% amount (as in 1 XRP = 1 FLR at snapshot time) and that is clearly not the case.

Why are they acting like that? Because they aim at "reallocating" some of the "XRP Snapshot pool" to new participants. And you know what? This is a Flare Network Club in XRP Chat. So my perspective of Flare Network behaivoir is from an XRP user. And as an XRP user I am upset at a company (Flare Network) that was created using Ripple (company) funds plus XRP user base and now wants to "milk" the XRP community once again, diverting some of the FLR promised to that community

And upset at people pretending is not a big red flag.

 

 

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I guess it's a waiting game now... I'm excited.... we wait for the proposal and go from there... will be fun sharing our findings here and discussing how we are going to spend our millions!!!  LOL.... @******, have you watched that video put out by flareCommunity?  If you haven't, I really can't go on about this with you,.. please watch/listen.... (if you haven't)

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P.S. 

I'm using "honky" as a term of endearment... I know it's offensive... but apparently, so is gring0...

(hope that clears the air and eliminates any unnecessary back and forths)... word!

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