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Author Topic: [2014-08-01] Jed McCaleb Reveals Stellar, His Previously Secret Bitcoin Project  (Read 662 times)
ganabb
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August 01, 2014, 08:28:20 AM
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http://newsbtc.com/2014/07/31/jed-mccaleb-reveals-stellar-previously-secret-bitcoin-project/

Remember Jed McCaleb’s Secret Bitcoin Project we wrote about in early February? We’re finally getting some more information about it via a Wall Street Journal report.

Before we get in to it, you should probably know who Jed McCaleb is by now. If not, he’s the original founder of Mt. Gox (which he subsequently sold to Mark Karpeles in 2011) and Ripple.
 

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August 01, 2014, 04:00:26 PM
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The usual cozy-up-to-the-banks proposal, it will get as far as Ripple has... (Which isn't far at all, if you've noticed.)

Total issuance (with no promises to keep it constant): 100 Billion - that's 100,000,000,000

Oh, and they're keeping 5%, which is effectively like a "pre-mine". That total is: 5 Million - 5,000,000

The whole prerequisite of using Facebook is idiotic too, but I guess if you are cozying up to the state and don't care about things being tracked from all over, go right ahead!

From their site:

Quote
You need to trust the gateways you use, but you don’t need to trust the other participants in the network. This is similar to trusting your local bank to hold a deposit on your behalf.

Oh by all means, let's TRUST BANKS, because that has been a "stellar" plan so far, eh? (LOL)

Take your bank-loving coin Jed, and please shove it so far up your abdominal cavity that you can see the end of the USB drive in your throat.

fortitudinem multis - catenum regit omnia
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August 01, 2014, 04:23:09 PM
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I might add that the pre-mine giveaway involves Stellar giving away coins and the receiver giving away their identity or financial privacy (I think it was 50% alloted to mobile phone telephone numbers, then 20% each to current holders of BTC or XRP)

I think not. Boo, Jed McCaleb

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August 01, 2014, 05:22:35 PM
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Well I guess this explains why he dumped his ripples a few months back:

http://www.cryptocoinsnews.com/news/ripple-co-founder-jed-mccaleb-announces-sell/2014/05/23

LOL!  Grin

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