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Author Topic: Stellar  (Read 521199 times)
klintay
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July 03, 2016, 11:21:49 AM
 #2101

So, just so I understand...On July 4th, 3 billion more STR/XLM will be hitting BTC wallets/exchanges? Won't this immediately destroy the price of STR, as the new coins dump on the exchanges? Am I missing something or is price irrelevant to Stellar.org? Or maybe because things in the crypto world are often the opposite of logical, STR will fly. But that seems like an unlikely scenario. Can anyone clear this up for me? Thanks

seem like you're still one of those that didn't give up. i use to own thousands but dumped it after 6 months without clear lane.
i believe i still have few thats left i even forgot to open my wallet for almost 3 years now.  is there really something laid for STR holders?

I haven't ever really looked at STR until recently, and I'm just trying to understand their logic. I feel bad for people who are holding STR if all the new coins are just dumped, especially long term holders. Why wouldn't everyone just open a short position on Polo with all these new coins about to be airdropped?

where are you getting the 4th July and 3 Billion STR from?
Jdj1727
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July 03, 2016, 01:25:12 PM
 #2102

So, just so I understand...On July 4th, 3 billion more STR/XLM will be hitting BTC wallets/exchanges? Won't this immediately destroy the price of STR, as the new coins dump on the exchanges? Am I missing something or is price irrelevant to Stellar.org? Or maybe because things in the crypto world are often the opposite of logical, STR will fly. But that seems like an unlikely scenario. Can anyone clear this up for me? Thanks

seem like you're still one of those that didn't give up. i use to own thousands but dumped it after 6 months without clear lane.
i believe i still have few thats left i even forgot to open my wallet for almost 3 years now.  is there really something laid for STR holders?

I haven't ever really looked at STR until recently, and I'm just trying to understand their logic. I feel bad for people who are holding STR if all the new coins are just dumped, especially long term holders. Why wouldn't everyone just open a short position on Polo with all these new coins about to be airdropped?

where are you getting the 4th July and 3 Billion STR from?

https://www.stellar.org/blog/bitcoin-claim-lumens/?utm_source=Stellar+General+Updates&utm_campaign=8488ae9c56-Bitcoin_giveaway_announcement_general_4_25_2016&utm_medium=email&utm_term=0_c77c979e43-8488ae9c56-278837969
M28MmickT
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July 03, 2016, 01:30:58 PM
 #2103

2B+ lumens will be awarded to projects built on Stellar more info here: https://bitcointalk.org/index.php?topic=1529992.new#new
and here: https://www.stellar.org/blog/build-challenge/


Why did you created Ripple and Stellar with a so huge 100 billion premine?

You have only released a few millions, not even 5% of total coins, up to this date after 3 years of Ripple they still have 50% or more premine I believe the same will happen here.

Why did you dump your Ripple holdings?, and what guarantee do we have about the same not happening here?

Your premine on both coins were crazy but people gave you a chance guys only to find risks are always real when you dumped your coins because of an internal dispute investors have nothing related to.

You should give away at least 80% of your coins if you want this project to have real success.

Soul_eater_123
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July 03, 2016, 01:37:27 PM
 #2104

The 3Billion coin dump is insane.  It will take the price below 100 sats.
Jdj1727
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July 03, 2016, 01:39:48 PM
 #2105

The 3Billion coin dump is insane.  It will take the price below 100 sats.

That's what I'm thinking. Isn't this an obvious short to make? Unless I'm missing something.
Soul_eater_123
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July 03, 2016, 01:41:42 PM
 #2106

The 3Billion coin dump is insane.  It will take the price below 100 sats.

That's what I'm thinking. Isn't this an obvious short to make? Unless I'm missing something.

Maybe they want everyone to short.  Then they cancel it at the last minute.
M28MmickT
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July 03, 2016, 01:50:42 PM
 #2107

The 3Billion coin dump is insane.  It will take the price below 100 sats.

That's what I'm thinking. Isn't this an obvious short to make? Unless I'm missing something.

Then you should dump now and not wait until that dump, those 3 B is good, the real danger is devs keeping them along with all their rest of premine, small market can recover easily from a dump, a big market cap (100 million usd) or more will not recover easily from a dump like that, it could kill the coin.

Jdj1727
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July 03, 2016, 01:56:43 PM
 #2108

The 3Billion coin dump is insane.  It will take the price below 100 sats.

That's what I'm thinking. Isn't this an obvious short to make? Unless I'm missing something.

Then you should dump now and not wait until that dump, those 3 B is good, the real danger is devs keeping them along with all their rest of premine, small market can recover easily from a dump, a big market cap (100 million usd) or more will not recover easily from a dump like that, it could kill the coin.

I'm considering opening a short position. but I just wanted to make sure that I correctly understood what was happening. I've never really looked into STR before the last few days.
btctube
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July 03, 2016, 03:58:35 PM
 #2109

scares me to death. anyone could guess who owns that account?
GreenBits
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July 03, 2016, 04:11:24 PM
 #2110

The 3Billion coin dump is insane.  It will take the price below 100 sats.

Was thinking about this. I plan to claim my lumens, free coins lol, but I'm concerned so will the rest of the crypto world, and in near the same time frame. Price will plummet, question is should I sell ASAP, or hodl since they are free and hold long term? Can always rebuy cheaper I feel, seems like the stronger strategy.
Soul_eater_123
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July 03, 2016, 04:16:23 PM
 #2111

The 3Billion coin dump is insane.  It will take the price below 100 sats.

Was thinking about this. I plan to claim my lumens, free coins lol, but I'm concerned so will the rest of the crypto world, and in near the same time frame. Price will plummet, question is should I sell ASAP, or hodl since they are free and hold long term? Can always rebuy cheaper I feel, seems like the stronger strategy.

Depends if you want to hold them long term or not.  If you sell now and buy during the expected dump you can get them at a lower price and effectively increase the amount you have.  The risk is always that the dump may not happen or may be delayed.  I'm selling some of mine to buy back lower but will hold on to a small amount in case of any crazy unexpected market behaviour.
Soul_eater_123
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July 03, 2016, 06:06:10 PM
 #2112

Apparently Poloniex will be taking part in the giveaway when it happens.  So if you have BTC on there it should receive an allocation of free Lumens.
Soul_eater_123
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July 03, 2016, 10:47:48 PM
 #2113

3 billions is just the beginning, 20 billions will be given away to bitcoin holders in the near future.

Well if that's true then say goodbye to Lumens and STR.
jwinterm
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July 03, 2016, 11:13:02 PM
 #2114

All this doom and gloom and publically talking of opening shorts makes me think maybe I should grab some stellar for the upcoming pump Cheesy
bitwarrior
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July 03, 2016, 11:15:36 PM
 #2115

All this doom and gloom and publically talking of opening shorts makes me think maybe I should grab some stellar for the upcoming pump Cheesy

I am still waiting for this coin to settle down on a much favorable price, maybe in 2 weeks , price will be much better to buy.
jed
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July 04, 2016, 12:24:19 AM
 #2116

 Jdj1727: "So, just so I understand...On July 4th, 3 billion more STR/XLM will be hitting BTC wallets/exchanges?"
No July 5th is when we are starting the lumen giveaway to bitcoin holders. The lumens go out as people claim them. We will see how many people claim them and how long it takes but it will be at the very least over the course of weeks.

electronicash: "is there really something laid for STR holders?"
Yeah tons of things going on. Check out blog for the latest updates: https://www.stellar.org/blog/


M28MmickT: Stellar has no mining so it isn't really a premine. The currency all exists when the network starts. Details about how the lumens will be distributed are here: https://www.stellar.org/about/mandate/  
> "You should give away at least 80% of your coins if you want this project to have real success."
we are giving away 95% of the lumens so I agree with you.


btctube: "scares me to death. anyone could guess who owns that account?"
What account?





stellar.org   |    twitter
Soul_eater_123
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July 04, 2016, 01:17:33 PM
 #2117

3 billions is just the beginning, 20 billions will be given away to bitcoin holders in the near future.

Well if that's true then say goodbye to Lumens and STR.

I disagree, distribution is beneficial IMO.

Maybe but it will kill the price in the short term.  This should have been done 2 years ago when it launched.  Doing it now just punishes the current people who paid for their coins.
bernardk
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July 04, 2016, 02:48:14 PM
Last edit: July 04, 2016, 04:19:58 PM by bernardk
 #2118

I see that many people here don't understand the core ideas behind Stellar/Lumens.
Calling it pre-mined when there is no actual mining going on and smilier misunderstandings.

I wrote an overview of Stellar if someone is interested in learning more about it:
https://galactictalk.org/d/1-start-here-everything-you-need-to-know-about-stellar

Regarding the price of Lumens. When the Bitcoin giveaway was announced the price already adjusted. I think it was a 20% drop.

Many people will not claim the Bitcoin reward and many Bitcoins are already lost (Satoshi's coins). So you should worry more about the October giveaway:
https://www.stellar.org/blog/build-challenge/

And I think Jed said somewhere this will be the coins not claimed now. So Stellar.org is only expecting 1B to get to users now.

Usually the trading volume is not too high for Lumens, but if you look at last week it exploded and the price increased again 20%.

Obviously someone was buying a big amount until exhausting the "cheap" supply.
With such love liquidity it's impossible to predict how the price will behave in the future.

Also note that Stripe bought 2 billion Lumens for 2 million USD:
https://stripe.com/blog/stellar

What results in a price of $0.0015 per Lumen. If you look at the last 6 months you will see that the price was always fluctuating a bit above this value.

So please check everything before trading Lumens. You don't want to end up in a margin short while some financial institution is buying a few millions.
GreenBits
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July 04, 2016, 03:26:29 PM
 #2119

Apparently Poloniex will be taking part in the giveaway when it happens.  So if you have BTC on there it should receive an allocation of free Lumens.

Didn't know this, thanks. Use coinbase primarily at the moment, was going to a paper walle t to ensure I would have the wallet keys for the address in case it was needed. Polo is pretty cool about shit like this, Ill most likely just do it on their platform
Soul_eater_123
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July 04, 2016, 04:56:03 PM
 #2120

I see that many people here don't understand the core ideas behind Stellar/Lumens.
Calling it pre-mined when there is no actual mining going on and smilier misunderstandings.

I wrote an overview of Stellar if someone is interested in learning more about it:
https://galactictalk.org/d/1-start-here-everything-you-need-to-know-about-stellar

Regarding the price of Lumens. When the Bitcoin giveaway was announced the price already adjusted. I think it was a 20% drop.

Many people will not claim the Bitcoin reward and many Bitcoins are already lost (Satoshi's coins). So you should worry more about the October giveaway:
https://www.stellar.org/blog/build-challenge/

And I think Jed said somewhere this will be the coins not claimed now. So Stellar.org is only expecting 1B to get to users now.

Usually the trading volume is not too high for Lumens, but if you look at last week it exploded and the price increased again 20%.

Obviously someone was buying a big amount until exhausting the "cheap" supply.
With such love liquidity it's impossible to predict how the price will behave in the future.

Also note that Stripe bought 2 billion Lumens for 2 million USD:
https://stripe.com/blog/stellar

What results in a price of $0.0015 per Lumen. If you look at the last 6 months you will see that the price was always fluctuating a bit above this value.

So please check everything before trading Lumens. You don't want to end up in a margin short while some financial institution is buying a few millions.

That's all great but giving them away for free results in a price of $0
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