Stellar

[jed]

> That's all great but giving them away for free results in a price of $0
That isn't really how economics works. Even though some people get them for free there is still a limited supply.
Imagine no one had cars in the world and you gave away 1,000 free cars. Do you think they would be worthless? No the people that got the cars could sell them even though they got them for free.

[Soul_eater_123]

> That's all great but giving them away for free results in a price of $0
That isn't really how economics works. Even though some people get them for free there is still a limited supply.
Imagine no one had cars in the world and you gave away 1,000 free cars. Do you think they would be worthless? No the people that got the cars could sell them even though they got them for free.

You misunderstand (probably deliberately).  The price of the coins that are given away to those that receive them is zero and so they can sell them at much lower prices than the current market rate.  That destroys the current market price.

Giving away even just 1000 free cars would lower the price of used cars and we are talking about the equivalent of giving away millions of cars so even your analogy doesn't really work.  If every car company gave away 20% of their cars - would that not affect the used care prices?

I'm sure you know this but are just acting coy because you will do whatever you want.  

We will see how it works out but I'm sorry to say that not many people trust you any more if they ever did.  Many are well aware of your history with MT GOX and Ripple - let's hope history is not repeating and that the good intentions with STR are not destroyed as a result of this giveaway.

[Soul_eater_123]

The Bitcoin giveaway was planned since the inception of Stellar:
https://www.stellar.org/about/mandate/#Bitcoin_program

So it shouldn't come as a surprise.

The timing is the main problem it is now 2 years since launch.  Had it been done right at the beginning it would not matter so much.  My point is this will kill the perceived value for the foreseeable future.  Anyway it's going to happen and there is nothing that can be done about it now.  So no point in arguing about it.

[jed]

Soul_eater_123: Sorry I didn't mean to come off as being coy. My point is that the price is just supply and demand. It isn't what people pay for the good in the first place that matters.
Clearly giving away a bunch of lumens increases the supply but the hope is that it also increases awareness and the number of people interested in the project which will increase demand.

As far as mtgox, I sold it to mark who proceeded to screw it up. I definitely regret not finding someone more competent to take it over.
As far as ripple, I announced my intention to sell *before* I sold. This seemed like the most honorable thing to do. I could have sold without telling anyone and made way more money. Not sure what people would have preferred I did?

> The timing is the main problem it is now 2 years since launch.
Yeah ideally we would have been giving out the lumens at a steady rate since we launched. We started doing that when we launched 2 years ago, but unfortunately the ripple codebase wasn't up to handling the scale so we had to pause the giveaway while we rewrote everything. Now that that is done and the code is solid we can start the giveaway again.

[Soul_eater_123]

Soul_eater_123: Sorry I didn't mean to come off as being coy. My point is that the price is just supply and demand. It isn't what people pay for the good in the first place that matters.
Clearly giving away a bunch of lumens increases the supply but the hope is that it also increases awareness and the number of people interested in the project which will increase demand.

As far as mtgox, I sold it to mark who proceeded to screw it up. I definitely regret not finding someone more competent to take it over.
As far as ripple, I announced my intention to sell *before* I sold. This seemed like the most honorable thing to do. I could have sold without telling anyone and made way more money. Not sure what people would have preferred I did?

> The timing is the main problem it is now 2 years since launch.
Yeah ideally we would have been giving out the lumens at a steady rate since we launched. We started doing that when we launched 2 years ago, but unfortunately the ripple codebase wasn't up to handling the scale so we had to pause the giveaway while we rewrote everything. Now that that is done and the code is solid we can start the giveaway again.

Thanks for your responses.  Also sorry if it seems like I was being mean about your past projects I was trying to reflect the way these things are perceived in the crypto community which tends to view most things as a scam and anyone involved with anything they don't like as a scammer. 

I actually like what you are trying to do with STR/Lumens particularly in terms of getting to the unbanked masses and the developing world.  I believe these markets will grow immensely in the next 50 years. 

Indeed I think Africa in particular will begin to take over from places like China due to the huge mineral and human potential that is still very much untapped there.  Those that get in there early (as China is already doing) could potentially future proof themselves against the gradual decline of the current world economic powerhouses.

Also I am not 100% against the Bitcoin giveaway or greater distribution.  I think it would have been better to do this early on but it is too late to change that now. 

I will hold on to my Lumens for the long term and ignore the price for the time being.  I'm also happy to contribute to the project as and when I can. 

Hopefully the giveaway will really help to promote the system and create some volume - which I suppose is really more important than price.  It will also give others the opportunity to get in at a lower price so I suppose that is another positive.

[1ofthemany]

As far as ripple, I announced my intention to sell *before* I sold. This seemed like the most honorable thing to do. I could have sold without telling anyone and made way more money. Not sure what people would have preferred I did?

Lmfao, looks like you pretty obviously wanted the price of XRP to plummet since you were working on a rivalling protocol and possibly felt betrayed by the ripple team.

[jed]

No that is the picture ripple fans like to paint but it just isn't true. I didn't and still don't think ripple will be viable long term so of course I wanted to sell my XRP.  The price of XRP doesn't really effect ripple the company since they raised money from VCs.

[klintay]

As far as ripple, I announced my intention to sell *before* I sold. This seemed like the most honorable thing to do. I could have sold without telling anyone and made way more money. Not sure what people would have preferred I did?

Lmfao, looks like you pretty obviously wanted the price of XRP to plummet since you were working on a rivalling protocol and possibly felt betrayed by the ripple team.

we would have prefered you kept it secret but then last minute announced on here that dump was immient

[dang thi bich thuy]

3 billion represent 3% of the initial supply. When will they distribute the remaining 16% to BTC holders and 1% to XRP holders as promised in the mandate?

[1ofthemany]

No that is the picture ripple fans like to paint but it just isn't true. I didn't and still don't think ripple will be viable long term so of course I wanted to sell my XRP.  The price of XRP doesn't really effect ripple the company since they raised money from VCs.

Serious market makers won't touch a currency that is under a significant threat of being overwhelmingly dumped. For a bridge currency like XRP this would suck. To me it seems like you wanted the protocol's native currency to be under a constant threat of a dump and by that hinder its use case. And lol at being a "fan" of any crypto team

[jed]

 dang thi bich thuy: We explain here: https://www.stellar.org/blog/bitcoin-claim-lumens/ 
This 3B is the first round of the giveaway. We will do other rounds after this.

[Jdj1727]

dang thi bich thuy: We explain here: https://www.stellar.org/blog/bitcoin-claim-lumens/ 
This 3B is the first round of the giveaway. We will do other rounds after this.

Is there an active claim link?

[jed]

It is here now: https://www.stellar.org/lumens/bitcoin-lumen-program/

[Voight-Kampff]

Hi !

I want to claim my stellars with a bitcoin adress but I didn't find a way to sign messages with my ledger wallet. Do you know what should I do ?

Thanks

[jwinterm]

It is here now: https://www.stellar.org/lumens/bitcoin-lumen-program/

Do you guys plan to make available the data that you accrue linking people's Facebook accounts to their Bitcoin addresses? It seems like this data might be valuable to some. Is there a way to do this without Facebook?

[favdesu]

stellar is already dead. this sharedrop will mark the end of its value

[jed]

 Voight-Kampff: What wallet are you using? you can also get help in our slack.stellar.org

jwinterm: You mean to other companies? Absolutely not. We aren't saving the data.

favdesu: yeah just like bitcoin I guess.

[jwinterm]

Yes, I meant to other companies, though if you released it publicly there would be little doubt that you haven't sold it, since who would buy something that is released publicly. By claiming that you destroyed it/will destroy it, it's still possible your keeping the data or sharing it selectively, for monetary compensation or perhaps favorable regulatory outcomes by sharing it with alphabet soup agencies. Sorry, don't mean to sound tin foily, just thinking things through while typing.

So, no way to participate without using a Facebook account?

[jed]

No I understand. Having to use facebook isn't ideal at all.

If you had bitcoins on either poloniex, btc38 or kraken then they will handle the claiming the lumens for you.

[God27]

stellar is already dead. this sharedrop will mark the end of its value

There's a difference between stellar being dead and the price of lumens being repeatedly hit with these types of giveaways. One of many goals is to get lumens in as many diverse hands as possible.

IMO lumens will somewhat follow the price of XRP's in the future even though the difference between each network's volume will be astronomical.

 FYI, the creator of Stellar is using his own time, money and other resources trying to fix a problem in today's society, he could just surf every day the rest of his life, he doesn't have to work ever again, the value is in the network. If Stellar network can gain value by showing it can be efficient, reliable, consistent, and transparent, the value of lumens will hold value.

If you don't like it then don't claim or claim and sell it for whatever you want.