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News: Reminder: do not keep your money in online accounts
 
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Author Topic: Stellar  (Read 521039 times)
str4wm4n
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August 04, 2014, 10:10:22 PM
 #321

Also, don't underestimate the huuuge amount of fake accounts. Some guys already had >2000000 2 days ago.

still 75,145 Facebook auths is pretty damn impressive in my opinion
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instacalm
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August 04, 2014, 10:11:01 PM
Last edit: August 04, 2014, 10:29:32 PM by instacash
 #322

still 75,145 Facebook auths is pretty impressive in my opinion
+1

Also, don't underestimate the huuuge amount of fake accounts. Some guys already had >2000000 2 days ago.

It has been on YCombinator's front page for 2 days and promoted by Stripe: https://news.ycombinator.com/item?id=8114901

That's a lot of publicity and attracts a huge userbase. Not saying there are no fake accounts. One would have to buy phone-verified FB accounts combined with a lot of manual work to make large amounts of Stellar that way, though.

edit: it is also on http://thenextweb.com/insider/2014/08/01/stellar-open-source-solution-international-money-transfers-currency/ etc.
redsn0w
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August 04, 2014, 10:11:41 PM
 #323

Also, don't underestimate the huuuge amount of fake accounts. Some guys already had >2000000 2 days ago.

still 75,145 Facebook auths is pretty damn impressive in my opinion

All of these account in less than a week, it is a record  Roll Eyes Roll Eyes
profitofthegods
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August 04, 2014, 10:15:41 PM
 #324

You realize, that all Stellars will be distributed?

yes

Just making sure, because your argumentation was seriously flawed. But if you know realize what will eventually happen and how much money will be needed to hold current evaluation of 1 Stellar, then go for it!

The market cap issue is interesting, because you don't actually need money coming in for this, you only need current owners to not sell for any less. If STR is distributed very widely to lots of people who all have a small amount, then even at a very high price many people may think they will hold onto them just to see what happens rather than selling, because just $10 or whatever is not such a huge temptation for them to cash out.
Magic8Ball
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August 04, 2014, 10:17:28 PM
 #325

You realize, that all Stellars will be distributed?

yes

Just making sure, because your argumentation was seriously flawed. But if you know realize what will eventually happen and how much money will be needed to hold current evaluation of 1 Stellar, then go for it!

The market cap issue is interesting, because you don't actually need money coming in for this, you only need current owners to not sell for any less. If STR is distributed very widely to lots of people who all have a small amount, then even at a very high price many people may think they will hold onto them just to see what happens rather than selling, because just $10 or whatever is not such a huge temptation for them to cash out.

Lots are getting for free, so once price starts dropping they will make a beeline. After all its free money, why not just get it before the hype dies.

Its being held up now by the hype, its going to collapse soon.
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August 04, 2014, 10:18:14 PM
 #326

You realize, that all Stellars will be distributed?

yes

Just making sure, because your argumentation was seriously flawed. But if you know realize what will eventually happen and how much money will be needed to hold current evaluation of 1 Stellar, then go for it!

The market cap issue is interesting, because you don't actually need money coming in for this, you only need current owners to not sell for any less. If STR is distributed very widely to lots of people who all have a small amount, then even at a very high price many people may think they will hold onto them just to see what happens rather than selling, because just $10 or whatever is not such a huge temptation for them to cash out.

That logic is also faulty. The Bitcoin Airdrop distribution will give users $100s of free stellars. In total XX$ millions will be distributed with the current valuation.

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August 04, 2014, 10:19:38 PM
 #327

still 75,145 Facebook auths is pretty impressive in my opinion
+1

Also, don't underestimate the huuuge amount of fake accounts. Some guys already had >2000000 2 days ago.

It has been on YCombinator's front page for 2 days and promoted by Stripe: https://news.ycombinator.com/item?id=8114901

That's a lot of publicity and attracts a huge userbase. Not saying there are no fake accounts. One would have to buy phone-verified FB accounts combined with a lot of manual work to make large amounts of Stellar that way, though.

No doubt, just saying that 75000 accounts =/= 75000 people. I'd bet 1/3 atleast is fake.

Also there are FB account "bot"-nets that are used for upvoting and liking on FB. Those can claim those stakes too. (I have no verified phone and was able to claim)

Magic8Ball
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August 04, 2014, 10:24:36 PM
 #328

Those can claim those stakes too. (I have no verified phone and was able to claim)

How could you do that? I tried claiming from Facebook, but they said they wanted a verified one. I am not giving Facebook my phone number.

Price will go south soon so I am hoping I can get and sell some soon.
TwinWinNerD
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August 04, 2014, 10:37:37 PM
 #329

Those can claim those stakes too. (I have no verified phone and was able to claim)

How could you do that? I tried claiming from Facebook, but they said they wanted a verified one. I am not giving Facebook my phone number.

Price will go south soon so I am hoping I can get and sell some soon.

I was one of the first to claim stellars, so maybe that is why. Still I bet people find work arounds.

redsn0w
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August 04, 2014, 10:38:50 PM
 #330

Those can claim those stakes too. (I have no verified phone and was able to claim)

How could you do that? I tried claiming from Facebook, but they said they wanted a verified one. I am not giving Facebook my phone number.

Price will go south soon so I am hoping I can get and sell some soon.

In the first hours .. only  the auth facebook and the recovery code Wink


str4wm4n
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August 04, 2014, 11:03:03 PM
 #331

lol wait a minute guys, isn't the whole point of ripple/stellar is that the coins are not intended to be used as actual currency?


edit:
hmm the stellar.org blog says:

Stellar also comes with a built-in digital currency, referred to as the stellar, which we’re giving away for free. The currency will have value (as determined by the market);
however, its primary function is providing a conversion path between other currencies.

if memory serves this is quite different rhetoric than ripple used.
TwinWinNerD
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August 04, 2014, 11:11:35 PM
 #332

lol wait a minute guys, isn't the whole point of ripple/stellar is that the coins are not intended to be used as actual currency?


edit:
hmm the stellar.org blog says:

Stellar also comes with a built-in digital currency, referred to as the stellar, which we’re giving away for free. The currency will have value (as determined by the market);
however, its primary function is providing a conversion path between other currencies.

if memory serves this is quite different rhetoric than ripple used.

Different rhetoric, same outcome.

Ripples (XRP) were also traded soley for the use of specualtion. Same thing will happen here, atleast devs are honest about it.

IrReAr
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August 04, 2014, 11:12:08 PM
 #333

Why can't I receive stellars and my account is thought to be spam?What kind of account it have to be?Active, kinda old with mobile phone?
Benjig
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August 04, 2014, 11:35:56 PM
 #334

does someone knows how to change the password from your stellar account?
instacalm
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August 04, 2014, 11:37:42 PM
 #335

does someone knows how to change the password from your stellar account?

Hi Benjig, one can't
Zer0Sum
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August 04, 2014, 11:41:52 PM
 #336

lol wait a minute guys, isn't the whole point of ripple/stellar is that the coins are not intended to be used as actual currency?


edit:
hmm the stellar.org blog says:

Stellar also comes with a built-in digital currency, referred to as the stellar, which we’re giving away for free. The currency will have value (as determined by the market);
however, its primary function is providing a conversion path between other currencies.

if memory serves this is quite different rhetoric than ripple used.

Maybe this is Jeb's Secret Project. These guys are not n00bs.

I like the way they included the CLAM Proof-Of-Chain idea.

Maybe CLAM is Jeb's Secret Project.
str4wm4n
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August 05, 2014, 12:03:13 AM
 #337

can someone please make stellar dice?  Roll Eyes
Benjig
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August 05, 2014, 12:06:25 AM
 #338

Let's see how long it lasts and where it'll go.

All I said was that there's lots of space (for its price) to grow <short term>. I did not say it would hold its value up to its full distribution.

At current rate of 0.0000058 and BTC price, all 100,076,310,224 Stellars would sum up to ~340'991'530$, approx 4.42% of Bitcoin's market cap.

The rate it is distributing at is remarkable. Probably lots of people with FB accounts attracted to some free virtual currency. Perhaps a large chunk of them are not even into Bitcoin.

But contrary to most alts that the total coins are mined in just months, this is for long term, you will not see the 100 billions even in the first 2 years in the market, for example the total giveaway given as today is only 130 million,
JerryThomas
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August 05, 2014, 12:13:13 AM
 #339

I will be listening.
TaunSew
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August 05, 2014, 12:16:47 AM
Last edit: August 05, 2014, 12:33:00 AM by TaunSew
 #340

This will have an inflated capitalization due to 94.9% of Stellar being locked up.  

The goal of having millions of signs up = scam lockup.  Bitcoin only has 2 million users and yet you think you can get millions to use Stellar?  The general public simply isn't that interested in crypto currencies unless it's for speculation purposes (like riding the Bitcoin train between 2009 to 2014) and dangling $10 worth of stellar isn't going to convince most people to bother with it.  


Like I said this is a 94.9% lockup.  Like Aurora before the air drop.  Or Ripple at the moment.    That means they can have a capitalization in the billions easily (even though the volume might only be $500 to $100,000 like Marinecoin or Ripple).



 That gives them 0.05% stellar to dump while the public has 0.00001% to 0.001% to play with.  This is easy millions for the developer, imho, they control all the volume and can slowly dump on the exchanges to reap a profit.

The people who run Ripple are easily making $10K+ a day.  Looks like people are envious on not getting in on that money train, so they're trying to pass off a more 'fair' fork of Ripple which isn't fair.  

As 94.9% of coins will be locked up, they pretty much own 98%+ of the tradeable coins.




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