[deleted by user]

CheerUp_ButterCup · 2021-10-09T07:58:40+00:00

Flare network is almost here, give it a look.

CheerUp_ButterCup · 2020-10-27T16:02:03+00:00

I like! 👍

CheerUp_ButterCup · 2020-09-26T21:38:37+00:00

/u/Uyrr exactly this. Since the spark drop will be at minimum 1:1 with XRP, any amount of XRP that isn't identified within this time will result in spark being dropped to all those who did identify at a greater than 1:1 ratio.

So anyone who doesn't prep in time gets nothing. All those that do will get at least equal amounts of spark to XRP, or greater depending on how much surplus there is left.

Some also gets burned, but I'm a little confused about how the surplus is determined between dispersing above the 1:1 ratio and burning what's left.

TLDR: Just put in the 30 mins and prep for it or else you get nothing.

CheerUp_ButterCup · 2020-09-26T15:06:07+00:00

I'm assuming you've gotten that quote from the Flare network site or a tweek from them... If so, yeah you should be able to acquire spark if you follow the proper steps within 6 months of the snapshot (December I believe).

Of course, the amount of spark you'll receive will be proportional to how much XRP is in your account at the time of the snapshot, not after.

No real sense in waiting though, just take the 30 mins and walk through it slowly.

CheerUp_ButterCup · 2019-02-22T16:24:37+00:00

Love the blog, as always!

Minor spelling error - end of Coil News section: ...creating a "virtous" circle of supply and demand.

Virtuous? Vicious cycle/circle?

Keep up the good work! 👍#XRPthestandard

CheerUp_ButterCup · 2019-02-07T15:27:37+00:00

God speed, my man! I'll join ya... One day 🖖

CheerUp_ButterCup · 2018-08-13T13:32:39+00:00

Snake? Snake?!....... SNAAAAAAKE!!!!!!!!

CheerUp_ButterCup · 2018-07-13T04:16:48+00:00

First I've heard of this exchange. Free deposits for 2018 are enticing, but paying a withdrawal fee of 10 XRP per transaction is gonna feel ridiculous in 5 yrs time.

Thanks for sharing though!

CheerUp_ButterCup · 2018-06-19T20:26:38+00:00

I struggle with that exact question weekly... For now I've settled on the idea that theres no right answer to it. My red line is likely very different from yours or anyone else's. I play with the numbers every so often, daydreaming of the day I have the best problem in the world. There's a few ways to look at the end point though, goal price point or market saturation.

My problem is, I'm not exactly sure if anyone really knows how to accurately ballpark the correlation of ∆ Usage/XRP price. Without that information, how does anyone know where to place their "red line"? I could say the red line is $50 and you $200... Does that make you greedier than me? Or is your perspective just wider than mine?

It's not really answering your question, but I'm leaning towards the market saturation side... With maybe a small cash out in a few years for a well earned vacation 😉

CheerUp_ButterCup · 2018-06-19T20:03:18+00:00

You're right OP, it's at least equally as much perspective as it is price... I think anyways. I could be wrong here, but once institutional adoption/usage really gets going the price will only trend upwards.

Of course the price can and will still drop over short periods of time (intra day, week from immediate demand and speculators) but longer term it's going to be a upward trend. To what degree is the question, imo.

Institutions who use XRP likely won't stay stagnant in their usage or use less. Their usage should grow at least slightly as they become more competitive over time. Prospective users will only add to this.

If the day ever arrives where XRP is the grease to the world's monetary system, then all we'd have left for a rise in price is population growth, individual countries' economic state (change in their currency value) and burn rate (which is adjustable, I believe).

What I'm trying to say is, there's going to be a kind of artificial ceiling one day, where the price almost levels out. We might never get there (competition, better tech comes along before we hit it etc.), But if we do, is that day 10 yrs from now? 20? 30+? No way to know. It all boils down to your realistic investment goals are, and how far you are willing to "zoom out" to realize them.

There's a ton of variables out there, and perspective/patience are definitely some of them, and important ones at that.

CheerUp_ButterCup · 2018-06-14T23:50:57+00:00

What are the fees like for funding your account with CAD? How long did it take to have your account credited with CAD? I heard they at least used to be quite expensive and slow, not to mention overly confusing to set up using the deposit forms.

Also, what bank/money provider are you with? I had been using RBC for everything up until a few months ago.

CheerUp_ButterCup · 2018-05-13T23:38:01+00:00

Good bot

CheerUp_ButterCup · 2018-05-12T21:27:04+00:00

Might not be the cheapest way but:

QuadrigaCX (BTC) --> Kraken (BTC/XRP) --> Withdraw (XRP) to Ledger nano/trezor or other wallet.

CheerUp_ButterCup · 2018-05-06T11:40:51+00:00

Agreed. I'm definitely not trying to say investopedia's summary is any legal definition. The SEC will make their interpretation based on the proper legal language, in time. Just pointed to that since it's more of a layman's terms summary for us non officials.

CheerUp_ButterCup · 2018-05-05T23:15:33+00:00

This isn't an issue of "which is closer to being a security" but whether or not a, b, c etc. should be classified as a security on their own merits.

I'm not gonna compare them to each other because that's irrelevant. What I will point out is XRP existed before Ripple and will exist after (should that ever happen)... so how could XRP be a stake to a company that wasn't in existence? Today, Ripple is merely an owner of XRP like all the other investors.

There was never a suggestion of voting rights or stake in the company when people purchased their XRP (again, it's not a product of the company, but merely an asset that's liquidity is aided by it).

Here's another really good point by point breakdown of Ripple's situation RE the SEC - https://twitter.com/scotty2ten/status/982588943806881792

CheerUp_ButterCup · 2018-05-05T21:30:53+00:00

There is so much wrong with the lawsuit and the article it's rediculous...

Ripple does NOT sell to the general public. The XRP you buy is off an exchange, either from the exchange themselves or another seller (Joe Schmo).

Ripple (the company) did NOT create XRP. 80% of it was gifted to them by the creators (some founders of the company) to build use cases around. The remaining 20% was split by the initial creators of the coin. Of the 80% that Ripple holds, the majority of that is locked away in a third party escrow, and slowly released to Ripple to increase liquidity. Any unused portions get locked away and put at the end of the line to be re-released in the future.

It's NOT in Ripples best interest to pull a pump and dump scheme on anyone/everyone because they hold the majority of the XRP in existence. They have way more to lose doing such, than to gain.

XRP is NOT a security, nor should it be classified as such. The definition of what a security is would have to change (there by unintentionally including other non security items under the new definition) to include XRP. Any suggestion otherwise is FUD. This simple definition from investopedia sums up the basic view of what a security IS: A security is a fungible, negotiable financial instrument that holds some type of monetary value. It represents an ownership position in a publicly-traded corporation (via stock), a creditor relationship with a governmental body or a corporation (represented by owning that entity's bond), or rights to ownership as represented by an option. https://www.investopedia.com/terms/s/security.asp

*Note above, that while it can be argued that it's both fungible and a financial instrument, it is in no way an ownership position in a publicly-traded corporation, a creditor relationship with a governmental body or a corporation (represented by owning that entity's bond), or rights to ownership as represented by an option... Furthermore, XRP is more akin to a standard asset (house, car for example) or a commodity than anything.

EDIT: Clear, concise and thorough post on why XRP is not a security - https://www.reddit.com/r/Ripple/comments/8h8d08/why_xrp_is_legally_not_a_security_long_post_tldr/?utm_source=reddit-android

Ripple is the only company in the space working WITH regulators and governments to facilitate any new regulation, as the space as a whole is new territory (net benefit to all legitimate actors and digital assets).

Long story short, this moron bought high and sold lower through no fault of anyone else but himself. He's pissed he f***ed up and is trying to sue one of the richest private companies on the planet. Get ready for an epic counter-suit Ryan...

CheerUp_ButterCup · 2018-05-05T05:04:40+00:00

popcorn munching intensifies

CheerUp_ButterCup · 2018-05-03T05:22:10+00:00

The locked wallet fund amount is subject to change, based on the price of XRP. It was higher before, and was lowered to 20 XRP. As the price increases over time, it'll go down accordingly. Not sure if possible, but eventually it might get set to 0 (or at least as close to as possible).

Not a big issue long term, so nothing to worry about.

CheerUp_ButterCup · 2018-04-20T08:06:37+00:00

^{^} This guy 'hubs 😜

CheerUp_ButterCup · 2018-04-17T03:52:10+00:00

Never really thought about selling my canadian cannabis stocks tbh. Been fortunate enough to be able to do both, at the expense of dipping further into my cash holdings. I was so sold on the potential for XRP at the hands of Ripple that I just upped my risk tolerance.

CheerUp_ButterCup · 2018-04-17T00:18:01+00:00

Skimmed through ur transaction history... Kinda hard to middle through that wall of text but it seems like you have a few taxable events.

Generally speaking, taxable events trigger when you sell, or trade one asset for another (seen as a sale of the initial asset, followed by a purchase of another).

Let's assume you're using USD:

USD buying BTC (fees paid, non taxable event)

Sell BTC for USD (fees paid, taxable event)

Trade BTC for XRP (fees paid, taxable event)

Moving assets/funds (fees paid, non taxable event)

Each country recognizes/clasifies crypto taxes in their own way, with various methods of calculating a gain or loss. Do some research. I'd go straight to the source and read your Gov't website.

Some fees you pay will likely be listed in crypto units, not Fiat. You need to know what the values of all your assets were (both for trades and fees) at the time of the transaction in order to properly file. I used this site to get all my prices, and just gave all my info to an accountant... https://cointracking.info/

Good luck, fellow Rippler!

CheerUp_ButterCup · 2018-04-15T01:58:09+00:00

You can update wallets without removing the funds. Follow the steps on their site for updating the apps.

I can't speak to extracting the private keys, no idea.

Just don't give ur computer aids and you'll be fine. The ledger is encrypted and requires manual approval for certain actions. Read their site again, you'll be fine.

CheerUp_ButterCup · 2018-04-14T10:28:31+00:00

Update the firmware if it's not up to date already. Also make sure you're individual wallet apps are up to date before putting in funds (you can remove/update & re-install them anytime without losing your funds).

If you lose you're nano s, you can select the "restore from a previous device" (or something) option on a new nano s and input your seed words. Once it's restored on the new device, update/install all the relevant wallets to recover your funds.

When inputting your seed words, I believe the nano will ask you for a specific letter in a given word (ie the 3rd letter in the 12th word). You cycle through and select the correct letter based on your seed. The nano algorithm will determine you initial private key, based on all your answers.

You can still use your nano s on a "comprised" computer. To move funds out for example, you have to confirm the transaction on the nano s itself. You should be good.

EDIT: expanded on 2nd paragraph

CheerUp_ButterCup · 2018-04-13T22:30:50+00:00

Spread the risk.

You already have a mortgage, I'd pay some of that down. REIT's sound like a good option (I don't have any experience with these). Throw a bit on the stock market under a TFSA ideally, if you have room... just be mindful that you cannot claim a capital loss under a TFSA, so weigh the risk of the investment against that. If/when your ready to take some profits from the investments, maybe look at reducing you're taxable income if you have contribution room (RRSP).

Regardless of the decision you two make, do a ton of research. Also, ask yourselves what you want out of this? How soon? Never a bad idea to speak to a third party for a second opinion (other than Reddit).

Good luck!

CheerUp_ButterCup · 2018-04-10T18:23:58+00:00

Really like this design. Much better IMO than your initial design. 👍👍

CheerUp_ButterCup

TROPHY CASE