/biz/ - Business & Finance

It will fork, you get 1:1 spark for xrp. You do not trade in your xrp, it's a utility fork meant to compliment the original. First utility fork BTW, just more history being made.

>>21277559
>first utility fork
Ethereum and BSV are both utility forks.

>>21277559
Are you sure its 1:1?

>>21277559
So if I hold call it 500 XRP, I will get 500 FXRP, leaving me with 500 of each?

So then its truly a fork, not an exchange, as some other have been saying.

>>21277449
There's no fork unless I missed some news. Official announcement of a fork would pump this noticeably.

>>21277559
arnt they currently negotiating with exchanges to see if holders there will be rewarded?

Yes 1:1 hold 2000 XRP, it is matched with 2000 FXRP/SPARKS... when this happens XRP bag holders will be twice as wealthy. Flare will be #1 in DeFi.

Better start accumulating that XRP or stay eternally btfo’d

>>21277449
https://flare.ghost.io/theflarenetwork/
Spark Issuance
The best community to own the asset that enables the use of XRP with Turing complete smart contracts is the community that will use it and benefit from it: XRP holders. Flare is not doing an ITO. Instead, it is doing what we term a utility fork. We believe it’s the first of its kind.

A fork traditionally has sought to take the user base of an existing network and depart entirely from that network, usually to have an antagonistic relationship with the original chain. In contrast, a utility fork is intended to bring value back to the original chain instead of moving away from it. Flare lets XRPL do what it does best, fast settlement, whilst bringing to XRPL, smart contracts and the feasibility to create a trustless pipeline to other blockchains. We think this is a truly powerful combination and a perfect example of utility.

100 Billion Spark tokens will be created to mirror the quantity of XRP that exists. There are approximately 45 Bn XRP tokens that do not belong to Ripple labs. The objective of the distribution is that XRP holders other than Ripple can claim approximately a 1:1 amount of Spark to their XRP holding. 45 Bn Spark will be claimable by XRP holders (stripping out known Ripple labs addresses). 25 Bn Spark will go to Flare Networks Limited which is Flare’s for-profit organization. 30 Bn Spark will go to the Flare foundation.

>>21277967

Will it just appear in my wallet?

fuck yeah

>>21278594
The best part of this is that Ripple hold Jed's XRP in an Ripple Labs wallet that releases X amount on a timetable in accordance with the court ruling...so Jed is gonna get BTFO on 4bn FXRP.

>>21278690
Yes, it looks that way... just hold xrp

>>21277748
Yeah. The whitepaper said 1:1

>>21277967
Step 1: Buy XRP

Step 2: Get equal amount of FXRP

Step 3: Sell all my FXRP

Step 4: Use money gained to buy more XRP

Step 5: Get more FXRP for frees.

Repeat process.

>>21278849
Lets go. This is actually huge. God bless RippleLabs, fuck you Jed.

>>21279171

sounds legit

>>21279171
I believe its a one time snapshot so probably can't repeat again and again and again etc

>>21277748
Yes

>>21279178
Jed is a nigger, to be sure.

So do all wallets work? Can you hold them in exchanges? I'm confused on how to actually get the FXRP

>>21277848
>>21277848

https://flare.ghost.io/

>>21279210
When is the snapshot scheduled to take place? Also will this count for the XRP held in exchanges?

What's the token contract/address for FXRP?

>>21279242
Apparently it is just a fork. If you hold XRP you will receive a 1:1 amount of FXRP.

For example, if you hold 100 XRP, at the date of the fork you will receive 100 FXRP. At that point you will have both 100 XRP and 100 FXRP.

The wording on the flare website is stupidly confusing for how simple it actually is. If I am wrong, someone please correct me.

>>21279270
Im sure it will progresive... And we should pay attention to the ERD migration to eGLD, it is not a fork but it could give us a hint of how the process will work on out wallet and exchanges

>>21277449
Good annoucement? Why is it dumping

>>21279459
>inb4 first leaked on /biz/

>>21279459
Because the entire market is dumping. Just because XRP has good news doesn't mean its immune from from the ails of the entire market.

>>21279510
+ peeps dno about this shit yet

>>21279487
Not quite.

Okay but the BIG FUCKING QUESTIION

When is this all going down? WHHHHEEEENNNNNNN?!?!?!?! TELL MEEEEE!!

>>21279686

>>21277449
It looks like "FARP" so you know it'll be good

So I’ll have 10k exarepee
Then 10k fexarepee?

>>21279714
lol what's that horse doin in there? lol

>>21279911

checked
JFK assassin

I hold my XRP on coinbase because normyfag.. Is this bad? If so, what do you recommend?

>>21279950
This. What is best wallet for for and will I get spark is I hold in atomic?

>>21279950
>>21279997

get trust wallet. free, and on your phone. The only way to lose your coins this way is if someone literally steals your face.

>>21279861
Yes.

>>21280138
I use a ledger am I safe?

>>21279950
I know bsv went to coin base accts

>>21280192

not my style, but probably.

How's about Atomic Wallet? Will that do?

I assume so, but idk cause newfag.

>>21277449
Will it work with Ledger addresses?

>>21279351
>https://flare.ghost.io/
I don't think it's that easy, they discuss the fact that if you hold your XRP on an exchange that the exchange may keep the issued FXRP tokens. I believe this will be similar to the fact that when BCH forked from BTC coinbase users were not able to receive their BCH initially, and actually for quite some time after the fork. That being said, I agree it is stupidly confusing, because at other points in the blog it reads as if XRP holders will have to send XRP to an FXRP smart contract in order to get FXRP which sounds like an absolute scam to me. Standing by personally until more information becomes available.

>>21280422
Yeah I agree with you. People will have to check their exchange's policy to see whether or not they will give their users the FXRP when it is issued. I think waiting until further information is the right call, we just don't know enough right now and the devs aren't being clear enough yet.

wow, who would have guessed? XRP fork to be the ethereum defi killer

This debate is dumb. You’ll have to go on their site and likely send one Xrp to their airdrop address, it’ll read your wallet details and airdrop your cripple to you.
If it’s not that then idk what it’ll be. They probably don’t have logistics finalized but it’s not like they can just open a wallet and park a quantity for you.

>>21280492
They also state explicitly that they are not releasing exchange information in order to spur XRP holders into annoying the shit out of their exchanges to make sure they will be able to get it...great marketing scheme. :)

>>21280566
I'ma open dem cheeks and park my dick in there, boy.

>>21277559
when is this happening?

Guys, UHNWI (the original, not the Jesus-Mellon larp) posted randomly in a BSV thread which was almost immediately nuked.

>>21280506
We live in a glorious time.

>>21280566
When the forking happens I'm sure someone on here will figure it out and tell us all what to do. That sounds simple enough though.

>>21280825
What did he say?

>>21280226
They stole everyone's BCH though.

>>21280965

XRP 2K

>>21281109
Based.

>>21281109
Wait, how do you know it was him?

yoe are not getting any FXRP tokens you can only use XRP on the Flare network as FXRP then "redeem" them back. Basically you can send your XRP to another network and back... thats literally it

minting billions of new coins without any use, what should go wrong

>>21281405
uniswapliquiditychart.png

>>21281400
you may get some SPARK tokens tho. 100 billion tokens of an "epic" project with 9yo skill webpage with "this is alice and this is bob" whitepaper. To be absolutely honest if you have XRP just wait to get SPARK aidrop and sell everything never look back

>>21280965
nothing personal, kid.

>>21280492
will i get FXRP just by having my xrp in my atomic wallet?

>>21282012
I believe so. However, the devs have been really unclear with their description of how the release of FXRP is going to work so we're going to have to wait a bit for more information that is hopefully clearer than what has been put out there already.

>>21282053
so can i sell FXRP for XRP? or what does it do? i read a bit but i just dont get it it seems complicated af

>>21282104
It seems as though it will be a fork where you will receive an equal amount of FXRP for however much XRP you already hold.

>>21282132
not sure what that means or implies but we'll see
would be nice if i could use it to get more xrp

>>21282181
Do you know what a fork is?

>>21282250
opposite of spoon

but in all seriousness i believe it is when you take a coin like XRP and duplicate it?

>>21282322
Just google it. It's happened with BTC twice now so there is plenty of information about it.

>>21279210
What if you have multiple xrp wallets?
Does it know it’s all one person?

>>21282366
How new are you?

>>21282633
Very

>>21279459
You're new to XRP, aren't you?

How does this work for tax purposes. I know, I know, but I'd rather not have the IRS breathing down my neck. Would our exchange provide us with 1099-MISC since this could be seen as a 'reward' or some such nonsense.

>>21277449
FUCK XRP

>>21284470
No

>>21277728
Oh so bitcoinSV is complimentary to bitcoin? is ethereum complimentary to ethereum classic?

do not send your XRP anywhere. Never fucking touch it.

Does this mean I’ll have to create a FXRP wallet (when available) on my ledger? I’m scared I’ll get the airdrop but since I don’t have an FXRP wallet it’ll go to a 0x00 address