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Author Topic: [2016-04-26] Stellar Foundation Offers Lumen to All Bitcoin Users  (Read 360 times)
x13
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April 26, 2016, 05:15:36 PM
 #1

Stellar Foundation Offers Lumen to All Bitcoin Users
It is good news for those bitcoin users with a streak of altruism in their blood. Stellar Foundation is giving away a significant number of lumen, the crypto-tokens used by Stellar protocol to bitcoin users. According to the latest announcement from the Stellar Foundation, 19 percent of the total lumens initially created will be distributed among bitcoin users, starting July 4, 2016.
http://www.newsbtc.com/2016/04/26/stellar-foundation-offers-lumen-to-all-bitcoin-users/

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April 27, 2016, 02:06:41 AM
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This is probably the fairest way to distribute coins.
However, I don't see why there should be a deadline for bitcoin holders to claim lumen.


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April 27, 2016, 02:43:18 PM
 #3

Yet-another-token that doesn't do anything to convince me it has features worth bothering with.

The paper on "Federated Byzantine Agreement Systems" is a unholy mash-up of Proof-of-Stake features with some nods towards Proof-of-Work. In short, it is unproven and if it even scales, I'd be surprised. It trusts nodes in some circumstances but not others, allows voting mechanisms that frankly seem more convoluted than anything else I've ever seen. Don't take my word for it, read all of this crap without going to sleep -- https://www.stellar.org/papers/stellar-consensus-protocol.pdf

Oh, and there are BILLIONS of these things, so yeah, there we go. I thought pre-mined was bad enough, but here we are with Zimbabwe dollars right from the get-go.

My problem with all of these Bitcoin "competitors" is they try so hard to be something "new", that they really don't end up fulfilling any basic needs. They end up being geek curiosities that are looking for a problem to solve, instead of the other way around.

fortitudinem multis - catenum regit omnia
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