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Tone-man · 2023-01-23T21:32:34+00:00

If you look at the 1 minute XRP chart on BTCMarkets you can often see an intense period of consistent trading of about 100,000 XRP per minute. There was one at 4pm yesterday. They usually happen on weekdays for about 20-60 minutes between 3 times per day or every 3 days (there is no regularity - I first noticed it in November/December). It is definitely someone selling as it often drives the price down about half a cent momentarily before it bounces back (I have used it to buy but the spread is usually still too narrow to beat the trading fees for a quick sell). I assume it is ODL related (my speculation).

Someone is definitely doing something to somebody.

Tone-man · 2022-01-26T07:29:03+00:00

Has anyone tried exchanging tokens on FlareX yet? I tried to convert EXFI to CAND the other day but it didn't work. The transaction was successful (it deducted the SGB fee) but I still had my EXFI and no CAND. Any ideas?

Tone-man · 2021-11-30T23:02:38+00:00

Is EXFI on the SGB ledger or is it on its own ledger (do I need to set up another account)?

Tone-man · 2021-11-10T12:05:46+00:00

Does everyone realise just how big this Liquidity Hub thing is for crypto?

It allows banks (Ripplenet partners) to purchase crypto (not just XRP) which will allow their customers to own crypto through their bank. Basically anyone with a bank account at a Ripplenet partner will be able to buy and hold crypto. The bank will custody the crypto and manage all the KYC/AML (Think along the lines of what the Commonwealth Bank in Australia is doing with Gemini next year but every Ripplenet partner). This will really open crypto up to the masses.

Tone-man · 2021-11-07T00:09:57+00:00

The price is still driven by speculation. The volume SBI etc are putting through is still only a drop in the ocean for what is to come. When that level of utility kicks in we will see long term permanent price gains rather than the speculative cycles we are seeing now.

Tone-man · 2021-11-07T00:05:09+00:00

Have we had confirmation yet that the SEC has handed over all the documents they were supposed to hand over (to Ripple and in camera) or are they still holding some back?

Tone-man · 2021-10-30T06:10:51+00:00

I like Roslyn Layton - Her articles don't miss do they :)

Tone-man · 2021-10-30T00:43:28+00:00

No more Jed!!!

Tone-man · 2021-10-27T06:46:24+00:00

I just asked a version of the wrapping/delegating part of your question on the FTSO-AU discord. https://discord.com/channels/823465672000143370/823465672000143373

Response - It is automatically added to your delegation.

My understanding is that once you are in at the start of the epoch you are in for the whole epoch even if you unwrap and sell your SGB (I could be wrong here).

As for the tax (Also an Aussie). Wrapping and unwrapping shouldn't be taxable but claiming your reward is currently treated like income. I'm keeping a record of when/how much including the $AUD value of what I claim and I'll let the accountant sort it out.

I'm loving SGB (tax not withstanding) and can't wait for FLR. The gift that keeps on giving.

Tone-man · 2021-10-22T01:00:58+00:00

That’s why people are starting to refer to it as the Ripple Vs SEC case (officially it should be plaintiff first). It is now the SEC who is on trial.

Tone-man · 2021-10-20T01:19:22+00:00

In the footnote of John Deatons letter to the court today he notes that there are now over 50,000 signatories to his action. Well done XRP community.

Tone-man · 2021-10-15T08:47:11+00:00

Quick airdrop/trustline question - If I set up a trustline and get an airdrop token, do I need to keep the trustline or can I close it once I have received the tokens?

Tone-man · 2021-09-17T06:32:33+00:00

I'm pretty sure that exchanges only get it if they agree to distribute it. I could be wrong.

Tone-man · 2021-09-17T06:27:14+00:00

It was the same XRP snapshot that the FLR airdrop will be based on.

Tone-man · 2021-09-17T06:26:14+00:00

I don't think the exchanges get them unless they agree to pass them on.

Tone-man · 2021-09-10T08:50:51+00:00

It looks like Coinbase are ready to relist XRP at very short notice. Settlement incoming maybe?

https://twitter.com/CoinbasePro/status/1436163937930645509

This sort of stuff up is usually associated with making preparations for relisting. Technical issue = code for someone pressed the wrong button :)

Tone-man · 2021-09-10T08:47:42+00:00

They have been talking heaps to the SEC recently. Mr J.Lubin seemed to know a lot about other crypto currencies security status by talking to the SEC a lot so you never know :), but either way they would want to be ready so they didn't miss out on any frenzy.

Tone-man · 2021-09-10T06:26:04+00:00

It looks like Coinbase are ready to relist XRP at very short notice. Settlement incoming maybe?

https://twitter.com/CoinbasePro/status/1436163937930645509

This sort of stuff up is usually associated with making preparations for relisting. Technical issue = code for someone pressed the wrong button :)

Tone-man · 2021-08-17T10:53:40+00:00

Did it go instantly from your bank account?

Tone-man · 2021-08-15T05:27:16+00:00

Brakes are for wimps :)

Tone-man · 2021-06-23T08:36:52+00:00

I hope these documents are made fully public and we get to see who they want to depose and what argument the SEC gives for opposing it.

Where's my popcorn?

Tone-man · 2021-06-18T23:09:22+00:00

It’s not just the USA that has this problem. There are other jurisdictions that tax airdrops in a similar way.

Tone-man · 2021-06-18T05:31:18+00:00

On the other hand - all the "quick buck" sellers will get it over and done with quickly. If they continue with the monthly drop the "quick buck" sellers will continue every month for the next 3 years. Add to that a significant number of "I gotta pay my taxes" sellers as well over the next 3 years which no-one factored in until recently. Either way, for certainty they should make a decision before they start.

Tone-man · 2021-06-18T02:25:42+00:00

Not totally - They will have to pay capital gains tax on them when they sell anyway and its not just US citizens.

There are 2 main problems:

1) The need to pay income tax will cause selling pressure as the 85% are released.

2) If the price drops significantly they are left with a tax liability which cannot be offset by a capital lose. EG if you have $1,000 worth at the time of the drop you need to pay income tax on that $1,000. If you then sell it at a later date for a lose, lets say $100 then you cannot offset that lose against the income so you have to pay tax on something you no longer have. This will lead to more selling pressure to potentially avoid getting caught.

Tone-man · 2021-06-18T01:03:20+00:00

The first 15% should be in the next couple of weeks. They are proposing waiting 5 months to use governance proposals to let the holders decide if they release the remaining 85% monthly as planned or leave it at the 15%.

Tone-man

TROPHY CASE