I just lost respect for Jed Mccaleb

[jonald_fyookball]

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.

[inBitweTrust]

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.

[jonald_fyookball]

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

5% admin is somewhat fair IMHO..... do you believe there should be no money set aside for devs?

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

[inBitweTrust]

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

You think decentralized exchanges are unnecessary?

[jonald_fyookball]

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.

[inBitweTrust]

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?

[franky1]

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

[QuestionAuthority]

Is ripple gone already?

[Meuh6879]

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

[inBitweTrust]

Is ripple gone already?

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.

[keithers]

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?

[Lauda]

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. 

[QuestionAuthority]

Is ripple gone already?

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.

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

[jonald_fyookball]

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?

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?   

[Elwar]

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

[kingama]

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?

[AliceWonder]

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

QFT

[SomethingElse]

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

+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.

[maurya78]

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

[Gleb Gamow]

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.

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