Working on the big PENSKE project
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I am too but they are doing a full exit in phases. So our time is limited
You are reading it the wrong way. They said as part of the settlement there will be a full exit from the US.
It reads all warm and fuzzy but this is the key piece that answers your question.
“This closes all multi-year-long inquiries into Nexo, looking at various aspects of the business, following the company’s voluntary decision to stop offering its EIP in the U.S., Nexo’s proactive exit from the U.S. market in an orderly fashion, and an agreement to pay a monetary penalty, payable over a 12-month period.”
Translation: Nexo was fined and has 12 months to pay for an unregistered security and they agreed to fully exit the US. So our government has kicked them out. I say this very sarcastically. Thank you SEC from protecting us from earning some interest on oht crypto and for chasing one of the very few companies who was doing it right.
I always first think, what is happening with XRP when I see this volatility, but then I bring up BTC and I see exact same scenario and realize it’s just crypto movement. Not one coin.
Your favorite place Uphold, but possibly Bitrue too. They were the ones that allowed IOU trading before anyone received it.
Bitrue I don’t think is as easy for me to maneuver in but they are an option.
I was frustrated as heck but I did not wait around. I converted to usdt, sent to uphold converted back to flare and wrapped and delegated. It was messy and maybe opened me up to tax obligations but I am not messaging around. Tbe vote is rigged to flare network holders owner and tbey wil pass it to give to themselves.
I’m wrapped and delegated. The vote will pass because the only ones who can vote are the ones who are delegated and on network already. I will play the game but it is very wrong. This was pitched to the xrp holders as practically a 1 for 1 snapshot and now the vote will take it away from xrp holders and give it to people who bought it yesterday.
Think about the coinbase holders. Coinbase committed to the flare snap shot. Hugo committed to the xrp holders. That is going all oht the door.
I don’t like idea exchanges have to handle tbe drop for 3 years either. The right thing should have been to give 100% of the flare to the xrp holders as promised right on day 1 of the air drop. Sure it would have tanked on day 1 (as it did anyways) but it would have gotten to the right hands and they would have delegated it and built out the utility.
Xrp holders were cheated. I got mine at Nexo. Nexo won’t even let you withdraw flare. I was forced to exchange it, transfer it off, convert it back to flare and then wrap and delegate again. It was messy but I know the vote will pass that proposal.
Strange. This board did not exist for me to find until today and now I see comments dating back over a year. Does price post on here yet ?
So it is great that they offer staking, however is this different than wrapping them and then delegating ? Because my understanding is in order to receive the other 85% they have to be wrapped and delegated on flare network
So you personally received the flare ? You moved it to Bifrost and staked already? Or are you saying uphold received it?
I’m on Nexo and every exchange will be different on turnaround to get it to tbe individuals. I hope they can do this in hours or days so I don’t miss on on any of the other 85%.
Man did it crash hard even with this prolonged 3 year distribution plan. Hopefully Al those looking for quick payout will be oht this month and we find our bottom and work our way back up.
Who has been cleared of any wrong doing?
I also have the solo DEX app. That was for solo but also I needed xrp to open that up. Looks like I can buy and sell xrp on the solo DEX and is a good option to have again If things go south in US and exchanges stop selling. Solo is a project not in US
Actually when time comes I’m going to move to my XUMM wallet. If things go south with sec case it’s best to keep it off exchange. I don’t have a nano but I do have XUMM. At least he is an xrp developer who designed it
Wonder if flare airdrop will impact price of xrp
Nexo was my plan for passive income to one day live off of if things took off in crypto. I too have to find what to do with my xrp. I will probably sell the Nexo if I can’t use it anymore
No but definitely a scam. Ripple would never give xrp away in a giveaway.
Btc and eth a little red, xrp nice green. Always like to see when it trades different from these two in a positive way.
I’m too cheap too ;). Yes let’s hope 2023 is the year for xrp and give us a little financial reward for hodling and believing
I’m in CT. Still getting interest but it is only a matter of time. Nexo plans a full exit. Our states I guess were luck to not be a part of the first round being shut off from earn.
I have been asking uphold to do an interest earn with xrp. They started their own earn programs and were one of the only US exchanges to continue offering xrp. Might as well take the reigns on staking for US as well right ?!
I’m too broke to buy. This is chance to make quick profits or load up cheap. Any crypto. Not even Xrp specific
I dont have 2 Pennie’s to run together. Some amazing opportunities to load up here
I want Ripple to win. In since 2018 and only coin I really follow. I am all in. All these small victories in court and common sense make be believe Ripple will win 100%. But the Lbry case just gave me a small reality check
To pull the quote from that article
“The Judge hung his hat largely on the fact that there was essentially no use for the tokens at the time of the sales.”
There are a lot of sales coming f xrp before ODL (xRapid) was created.
Maybe we can hope the judge splits the baby. First sales of xrp were a security but sales as of 2018 and forward are not.
Pay a fine - sec can claim victory. Ripple can continue and sell in US today, win for the people !
Sales of crypto on secondary market were treated the same crypto held by company. And there was no acknowledgement of use cases developed in future having any impact on it being a security.
I don’t understand the court system but library case is circuit 1 and Ripple case is circuit 2. So judge does not even have to acknowledge library case in her decision making. However I just never imagined a scenario of 100% loss and sec being 100% right. If I can’t imagine that and am wrong in my thoughts, now I see grim reality that same exact thing can happen to ripple. Just have to hope we have a better judge.
Xrp is global. If we lose here in US, it doesn’t go away. And it can still be very successful and go up in value. Just will take longer. Congress too slow to move to fix what is happening in our country. I will hold all my xrp and wait it out as long as it takes. The genie is out of the bottle. US can’t put it back in as hard as they try.
Library 100% lost its case with SEC. Judge said if a company mints a large supply of a crypto and holds a majority of it, then there is expectation of profit.
This case is not big enough to set a precedent, but sec will try like heck to point to this ruling now in the Ripple case.
Ripple defense team and case is much stronger but I don’t like how library just played out. That should not have been a 100% win for sec. The judge should have shown a little more understanding to the complexities of the case and lack of fair notice
I locked up my initial balance for 6 months in the promo rate. I left the interest out in flex. I guess if the interest earns a daily rate overnight then I will know I have option to lock that up in a separate fixed promo rate if desired.
I kind of like the idea of keeping a small bag loose just in case xrp makes a run on news. Would be nice if it still earns the daily flex rate while I wait for the run up on good news.
Part of me wonders why Nexo was doing this promo for xrp. I speculated that they are worried of a massive sell off on case settlement so they locked us up for 6 months to decrease volume volatility on their platform. When the case dragged on, they extended the promo another 6 months. Just my thoughts
Are you in the US? I calculated the interest and was coming up short. I then opened up my fixed term. While it first shows that all of my xrp is locked up on the contract, when I drill further it shows that only 99% of it is earning interest. That means they locked up some of my xrp in the fixed term that is not earning anything.
You can roll it over and lock it all up. However if you drill into the contract or calculate the interest you will see that not all of it is getting interest calculated
The principal that is grandfathered in can earn compounding interest. But at the end of that term, the interest can not be rolled into a new fixed term and even in flex will sit there and not earn.
I see what you are saying. They probably shouldn’t be allowing compounding for IS because that is new interest earning interest which contradicts what they said. However my daily interest is rising every day. But I am certain that when they pay it out, the newly acquired interest will not earn anything going forward.
So until they change their policy in US, it’s best to just withdraw the interest or certainly keep ot loose because they won’t do anything with it
Don’t roll it. Let it conclude and sign up for a new one to include the full amount
I’m not sure that is a true statement. Every day my daily interest is a little bit more. It is compounding
Here is one thing I am observing. My entire xrp that is locked but a small amount (500 xrp) is not earning anything. I believe tbis is because they froze future earnings for US citizens other than what was grandfathered.
So I have option to roll it all over and lock it up, however I am not earning any interest on any of the newly acquired xrp from the prior lock. And tbey still lock it up so I don’t have access to it.
I can see the exact amount that I have that is earning Interest. So I am going to lock up that amount and keep anything over that free because it’s not earning anyways. It’s a decent chunk because it was the 6 month promo at 9.25%
Nexo is extending out theit interest earnings on xrp by offering an additional 5% if you lock it up 6 months again.
I think I am going to lock up 90+% and keep the rest free. There will be case resolution in 6 months. I am taking some interest earned over these 3 years and cashing out if it makes a run.
Bitrue
Many will sell but I am going to hold through all the volatility because I think that once the hurdle is lifted it will be a steady ride up from there.
It will spike and crash from profit takers but then after that it will head up and reach the real numbers we all wanted.
First is settlement. Then it’s exchanges bringing xrp back, then it’s ripple ipo. Then it is announcement of companies in United States using it. Then it is central bank news.
I am just going to sell the xrp earned from staking. I believe this is easily a 2 digit coin and I can live on interest until it hits that complete financial freedom number
Sec turned over the Hinman speech internal emails. Ripple sec council said they are to remain private for now but said they were well worth the 18 months and 6 court orders to get them.
Ripple and sec also met behind closed doors today. Maybe it was to go over redactions to their summary motions, maybe it was to discuss settlement. Either way ripple is favorable to win.
Last filings to the judge are nov 15th and then that is it! Judge is fully briefed. That is weeks away now. Then all that is left is to just wait for judge to make her ruling.
So either we get settlement between now and nov 15th or we wait for judge. Now outside attorneys said it could take until March of 2023 for judge to rule. I can’t imagine why it would take that long but we are seeing the light at end of tunnel.
between October 24 and November 12
I am just going off what I have read on social media and I’m told it is a proposal by creator that still has to be voted on.
If you think about it, how are they going to keep track of everyone’s holdings to determine who is receiving the air drop. The wallets are everywhere and there will be a lot of transfers and sales.
But if you delegate that 15% and keep it locked up on their network, they will know who is eligible to receive the monthly airdrops going forward. I suspect exchanges and holders will receive the first 15%. Then it is on us to follow the steps to get the remaining 85% monthly for three years. It will not be the exchange’s responsibility after initial drop.
This is all the more reason why I wish they would just do the whole 100% on day one. Then let us make our own decisions. The market will fix itself. I think there is going to be way too many complications with wrapping and delegating and distribution over 3 years. Too much room for error on our side and Flares
My understanding is the flare has to be converted and delegated to the network in order to receive the other 85%. That is the proposal being made. I hope it doesn’t happen though.
I am ok with a flash crash. I don’t plan on selling mine. But I do believe after this long of a weight and delayed launch they should just give everyone their 100%. It makes everyone’s life easier. One and done. Sure there will be a large crash in sell pressure, but there will be plenty of speculators on tbe side lines that either missed the snapshot or those looking to increase their bags and scoop them all back up. It will gradually recover and then head up from there.