ftso_au Posted January 9 Share Posted January 9 1 hour ago, Panopticon said: do not forget the FLR team have billions at their disposal and have no doubt people...they will dump like crazy!!!!! Do you honestly believe that? There’s no way known that’s going to happen, you don’t work this long and hard on something to shit in your own nest. henne111 and BillyOckham 1 1 Link to comment Share on other sites More sharing options...
Gringo Posted January 9 Author Share Posted January 9 Quote I sure regret not dumping my SGB though when I had the chance, now they worth next to nothing Quote The price will plummet for 90-99%....same as SGB. 23 cents now, it dumped to as low as 15 cents. Still one FLR IOU buys you 15 SGB. If only they had implemented S-Assets on Songbird before TDE of Flare, but I guess this is the price action to deal with when its about vaporware being promoted from Dubai Link to comment Share on other sites More sharing options...
Panopticon Posted January 10 Share Posted January 10 (edited) Wow even worse that I expected price is 80% down already and dropping like a stone. And most people who held on exchanges do not have their tokens yet so more dumping to come once they get it (yes stupid me ). Cannot believe people actually bought IOUs at 0,50 or 0,30c etc, the writing was all over the wall!!! It is going to get below 0,01c really soon, and will be practically worthless... Edited January 10 by Panopticon Gringo 1 Link to comment Share on other sites More sharing options...
Gringo Posted January 10 Author Share Posted January 10 @0.04 USDT now on Bitrue (no longer IOUS as they are accepting FLR deposits). It will find some sort of short term "floor" and posible some "strong" rebound (maybe 0.15 , 0.20???). The thing is the high inflation (from the 85% remaining airdrop) wont occur until the FIP01 vote is done. I also suspect some Hugo's proxyes were selling SGB all this months to create some sort of a cash reserve...to build a floor for FLR. But of course that's speculating. If this however goes straight to subzero cents with no rebounds, will be epic too. Panopticon 1 Link to comment Share on other sites More sharing options...
Panopticon Posted January 10 Share Posted January 10 1 hour ago, Gringo said: It will find some sort of short term "floor" and possible some "strong" rebound (maybe 0.15 , 0.20???). The thing is the high inflation (from the 85% remaining airdrop) wont occur until the FIP01 vote is done. This dump is from self custody holders The main dump will come when holders on exchanges get their tokens. And yes this is just with the 15% released so once rewards are started being distributed, rince and repeat at the end of each epoch with further selling pressure (just as happened with SGB). 85% down already from yesterday IOUs price, 55% down since the actual token started trading and still a really really long way to go... Also many selling orders I am seeing is not from the airdrop... 18 hours ago, ftso_au said: Do you honestly believe that? ...so I think you have your answer!!!! It is their project of course and they are entitled to do whatever they wish, but is clear Hugo and the gang held 45 billions for a reason and that is not charity my friend Gringo 1 Link to comment Share on other sites More sharing options...
Gringo Posted January 10 Author Share Posted January 10 Quote Still one FLR IOU buys you 15 SGB. I traded some FLR for SGB, but each FLR bought me 6.59 SGB. That's because of the heavy dump. The current ratio is 1 FLR = 3.16 SGB Long term I expect SGB to be more valuable than FLR. But short term I expect that FLR rebounds both in price and relative to SGB. Maybe I'll trade more if 1 FLR = 10 SGB or more. Right now I could get the same amount I sold, by just selling HALF the SGB I bought by selling FLR. That's better than wrapping, lol. Link to comment Share on other sites More sharing options...
ftso_au Posted January 10 Share Posted January 10 1 hour ago, Panopticon said: ...so I think you have your answer!!!! It is their project of course and they are entitled to do whatever they wish, but is clear Hugo and the gang held 45 billions for a reason and that is not charity my friend The price action is no proof at all that anyone from the team dumped? That’s absolutely absurd. Spend some time doing some on chain analysis and you’ll find some answers as to who has and hasn’t dumped. I used to really enjoy the discussion in this forum, but if this is the level of discussion then I’m out. henne111 and Tull 1 1 Link to comment Share on other sites More sharing options...
xrp-nuke Posted January 10 Share Posted January 10 1 hour ago, ftso_au said: The price action is no proof at all that anyone from the team dumped? That’s absolutely absurd. Spend some time doing some on chain analysis and you’ll find some answers as to who has and hasn’t dumped. I used to really enjoy the discussion in this forum, but if this is the level of discussion then I’m out. Bye! ftso_au and PlanK 1 1 Link to comment Share on other sites More sharing options...
PunishmentOfLuxury Posted January 10 Share Posted January 10 1 hour ago, ftso_au said: The price action is no proof at all that anyone from the team dumped? That’s absolutely absurd. Spend some time doing some on chain analysis and you’ll find some answers as to who has and hasn’t dumped. I used to really enjoy the discussion in this forum, but if this is the level of discussion then I’m out. Pay no attention to the negativity, Neil. Your input is valued by many more than the idiotic few. henne111, PlanK, JASCoder and 4 others 3 4 Link to comment Share on other sites More sharing options...
ToastBandit-99 Posted January 10 Share Posted January 10 1 hour ago, ftso_au said: The price action is no proof at all that anyone from the team dumped? That’s absolutely absurd. So why do you think that development teams hold some of the token after issuance? So that they can "not sell" them? Please be realistic, you are running validators/oracles to earn FLR/SGB, so that you can sell them and pay your costs. You've worked for 2 years developing tools for a project and you need to get paid at some point. The founders kept billions so that they can sell them too. Ideally at a high price, but if necessary, at a low one. Billions of FLR are being released and there is nothing of value on the project's network to drive up it's price - of course everyone will be selling - and maybe the founders don't need to 'right now', because they've been doing it gradually - they might not be dumping today - but they will be selling continuously for years and probably have been for ages already. Offices, salaries and flights around the world all cost $$$. Link to comment Share on other sites More sharing options...
ftso_au Posted January 10 Share Posted January 10 1 hour ago, ToastBandit-99 said: So why do you think that development teams hold some of the token after issuance? So that they can "not sell" them? henne111, ToastBandit-99, BillyOckham and 1 other 4 Link to comment Share on other sites More sharing options...
mambli Posted January 10 Share Posted January 10 how to: https://support.bifrostwallet.com/en/articles/6545558-wrap-and-delegate-flare Jeffdean13 and deBereboot 1 1 Link to comment Share on other sites More sharing options...
Gringo Posted January 10 Author Share Posted January 10 I will put all this (public) info together so you conect the dots: * About Terra co-founder Do Kwan: About Charlie Lee and Litecoin community relation with Flare: So, * Ripple (the original angel investor of Flare) already divested BEFORE "TDE" (The Distribution Event), as a result XRP airdrop holders were deprived of 85% of their FLR holders without any "insider" defending their rights. * Litecoin users were also promised an airdrop, but that never materialized. Charlie Lee invested here so he is a "backer" ready to cash out via Flare after 6 months. * Do Kwon, no matter his troubles with the law, also invested and will be able to cash out via FLR after 6 months. Also he is not scared about "sub cent" chains. Currently LUNC (Terra Luna "Classic") is trading @ $0.0001671 . His presence as a Flare Network "backer" really gives a bad mojo for Flare. So value is also subjective. There is Ripple community feeling betrayed by Hugo Philion. There is Litecoin community feeling betrayed by Hugo Philion. Do Kwon, one of the most recognized names related to the 2022 crypto-winter has a prominent seat at Flare and waiting to cash via FLR in 6 months. All this, just public information. You could add some more not known by the general public. You can be sure it contributes to the valuation of Flare/Songbird. What could Flare do to contribute for transparency? Identify all "backers" wallets (like we did on Ripple with Jed's tacostand, etc), just for a start. I would for example like to know why Charlie Lee wouldn't cash out via FLR, when he couldn't get an airdrop for LTC holders as publicly promised. And God knows what other promises were not delivered... Link to comment Share on other sites More sharing options...
ToastBandit-99 Posted January 10 Share Posted January 10 9 hours ago, ftso_au said: Whilst this is encouraging to see - who enforces it? In normal business there are bodies like the SEC to ensure that founders and directors don't sell their assets off without disclosure - does anyone check that these rules are followed, and if they are not - what happens? a few people on twitter complain? Don't forget that the founders have ditched/changed almost all of the plans they initially published - why stop now! Why not just produce a Flare improvement proposal to change the rules completely and then vote for it themselves. Works for me. Link to comment Share on other sites More sharing options...
ftso_au Posted January 10 Share Posted January 10 1 hour ago, ToastBandit-99 said: there are bodies like the SEC to ensure I wouldn’t use them as an example. For most of us, they’re irrelevant anyway. Why don’t you push Flare for information on how it’s enforced? Link to comment Share on other sites More sharing options...
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