Bitcoin Forum

I thought this guy was cool when he sold all
his ripples...

Now he's starting the same scheme all over
again with Stellar. 

http://www.coindesk.com/mt-gox-ripple-founder-jed-mccaleb-unveils-project-stellar/

Let me guess -- he's gonna sell all his stellars
in a year and leave behind another round
of bag holders in his wake.

50% of the total will be distributed to people who sign up for an account verified by cellphone
25% will be distributed by other nonprofits focused on financial inclusion.
20% will be given to current Bitcoin and Ripple holders—two systems that Stellar owes a lot to.
5% will be used to pay nonprofit stellars admin costs and development

fixed 1% annual rate inflation will be awarded to top 50 accounts with participatory budgeting allocated to causes the consensus supports.

5% admin is somewhat fair IMHO..... do you believe there should be no money set aside for devs?
I don't understand what the scam is .... just collect your free tokens and than use them to exchange bitcoin for fiat and vice versa for free.

thats up to the people who put in the money... I think the whole project is unnecessary.

You think decentralized exchanges are unnecessary?

thats not what it is.

Since it’s a distributed and open network, anyone is able to start their own gateway, and to take their pick of gateways to trust.

How is that not decentralized?

Seems like NXt/Ripple with a much fairer distribution model. Not as secure as bitcoin, but ..... hmmm... why not just Bitcoin with oracles?
Perhaps this is superfluous?

i had load of ripples in my account.. i deemed them worthless anyways, but i found that they routinely wipe peoples accounts.. that was last year before the sell off,

for me ripples was never a currency and NO ONE should treat them as such. the best description of ripples or 'ether' or stella is to think of them as postage stamps that sit on the outside and used only to ensure the currency (bank notes in an envelope) gets to its destination. not to be thought of as a currency to trade. but as a simple stamp to use.

and they are not a blockchain that is there permenantly, they are just a SQL database.. again worthless, no true ownership

Is ripple gone already?

well ... they try ... and they crash.
commun world.

Still has a 43 million dollar market cap ... but with this announcement I'm sure Ripple prices are going to crash. I am not sure how I feel about Stellar at this point in time till I read the yet to be released whitepaper but it sure is a hell of a lot better than Ripple based upon the info thus far.

I think the project is a pretty good idea from what I have read so far (which is not that much).  His name got dragged through the mud because the of the whole Gox thing, but that really didn't involve him since he sold, right?

It is, but another currency isn't. He will probably repeat his steps and dumb his holdings when the time comes.  ;)

Interesting, I didn't think it would make it for several reasons. I saw them set up a table at one of the Bitcoin conferences and thought it was pretty cheesy piggybacking like that. TradeFortress supported it and I never trusted him. Joel Katz always kind of creeped me out and he worked on Ripple. He hasn't done anything wrong that I know about but he kind of looks like one of one of those guys you would see hanging out on a Starbucks sofa, laying down and waiting to look up girls skirts. lol

there's really no such thing as a true decentralized exchange when it comes to fiat.

But if you're going to make an open protocol, why not just build the protocol,
why do we need "stellar tokens" --  to pay the devs?   

People not even close to being as humble or smart as Satoshi trying to be Satoshi.

I still respect Jed but wish he'd stop trying to eliminate proof-of-work and stick with Bitcoin. There's plenty for him to do and what does he think are the chances he'll invent another decentralized system that even comes close to touching Bitcoin in impact?

QFT

+1

It's not money. It's a platform with a tax that let's others exchange money. 

I heard NXT just released a mostly trustless distributed exchange. Only a few coins now but in the future any coin will be traded with any other coin directly with no worry a middleman can steal your cash.  That's better then Ripple or this new project, but still for assets without blockchains, I guess gateways and trust are needed.

Yeah, it's been a real clusterfuck since Jed pulled the trigger
Mismanaged beginning to end
I thought Ripple had some potential initially, sad

The next coin will be a PoSB (Proof of Stellar Burn).

I can only image you referring to me as a troll/gnome behind my back, you bald-headed fart.  ;D

I gotta seriously look into this NXT thingie for a project I'm working on. BTW, I went ahead and registered CoinProLite for shits & giggles. I think I can seriously use it as a utility for the almost guaranteed distribution I have in mind.

Face it Bruno, at our age we both look like garden gnomes. Except we're not quite as cute.  ;D

Distributed =/= decentralized.

Ripple or Stellar are not decentralized, as their consensus algorithm does not resolve the Byzantines Generals Problem.

The distribution of Stellar is far more fair than the distribution of Ripple however.

[PS: Who registered stellarscam.org?  :D ]

Glad I stayed clear of ripple and I'll be staying clear of this as well.  I wouldn't call either a scam, but at the same time they're just not very good solutions.  These "gateways" just sound like mini-exchanges and rife for abuse from whoever is running them.

The gateway IS an exchange, it's an exchange connected to the Ripple (or Stellar) network.

Do you know a secret? Bitstamp is a Ripple gateway! :o

There is no more trust that you give to a gateway than a common exchange.

Woah, you must not have been paying too much attention to Ripple back then. ;)

Tradefortress was actually the biggest Ripple detractor by far. He paid people many BTC to edit their posts if they were on the first page of Ripple's giveaway thread to say something along the lines of "RIPPLE IS A SCAM" ect ect. Also paid people to put that in their sigs.

And he also ran a literal scam where he issued 'Tradefortress' BTC backed by nothing on Ripple where at least one person lost 1 BTC.

That being said I totally don't blame you for completely ignoring all that nonsense that went on during that time. :)

AGREED , i Stand corrected.

Really! Well then I guess ripple is ok. LOL

Your right, I just skimmed a few ripple threads and saw him posting heavily in them so I thought he was a supporter. I guess his propaganda efforts had the opposite effect.  ;D  Something was always smelled fishy about TradeFortress so I just developed a general dislike for him.

Ripple always seemed like backwards logic to me and counter to what I got into Bitcoin for in the first place. I dismissed it pretty quickly though without doing much research. That whole IOU trust thing put me off. The reason I use Bitcoin and protect myself is because I don't trust any of you fuckers. ROFL

You can open up an account at New Account at Stellar (http://"https://launch.stellar.org/#/register") and get 5000 free Stellars for hooking up to your Facebook.

Just be sure to test it by sending some Stellars to this address: ghxe5YBPwoLtehA6H5riRp815gowxRGaVQ

 ;D ;D ;D

OK, I lol'd  ;D

Exactly this, Stella seems to be a reboot of Ripple with the initial giveaway done via Facebook rather than bitcointalk.

Also, I think for the record, Tradefortress always hated ripple and even paid people to call it a scam, at least until the inputs.io "hack."

I haven't lost any respect for Jed.  He seems a well intended guy who got disillusioned with Ripple, told them to bugger off, and is trying to do a better mousetrap.  It just looks exactly the same as the current mousetrap...