Pre-mined and Facebook distribution

[HostFat]

Why aren't the other alt-coin developers using the same method of Stellar? (they have made 125,863 different unique accounts in few days)

They should do a pre-mine of X amount of their alt-coin (it should be public, nothing hidden), and then spread them by using Facebook accounts.

Verified Facebook accounts are good to spread alt-coins because it's difficult that there will be more than one account for person.

I know that there are exceptions, but they aren't common on a large scale.

It needs a secure (devs shouldn't have access to private keys) and easy web-wallet, and a check for a verified facebook accounts.

This will be a very easy way to spread the cryptocurrency word to common people.

[Viper1]

Verified Facebook accounts .... because it's difficult that there will be more than one account for person.

That's completely false. There are TONs of people with more than one "verified" account. Not to mention all the "blackhatters" that have boat loads of accounts. Guys that are making a shit ton of money using facebook ads go through a lot of "agency advertising" accounts as well which aren't easy to setup and yet they create new accounts day after day when their others get shut down. Couple months ago I wanted to test something and bought 25 youtube phone verified accounts for $5. I'm sure you could find the same sort of thing for facebook.

Fact is, there's no way to distribute anything "fairly" on the internet as there are always people that can come up with a way to get a lot more than anyone else. Not to mention that not every uses or wants to use facebook (there's threads on the Stellar forum complaining about the use of facebook).

[DannyElfman]

Why aren't the other alt-coin developers using the same method of Stellar? (they have made 125,863 different unique accounts in few days)

They should do a pre-mine of X amount of their alt-coin (it should be public, nothing hidden), and then spread them by using Facebook accounts.

Verified Facebook accounts are good to spread alt-coins because it's difficult that there will be more than one account for person.

I know that there are exceptions, but they aren't common on a large scale.

It needs a secure (devs shouldn't have access to private keys) and easy web-wallet, and a check for a verified facebook accounts.

This will be a very easy way to spread the cryptocurrency word to common people.

There was a guy that collected 2 M stellars within 48 hours.

https://stellartalk.org/topic/34-how-i-accumulated-2-million-stellar-in-less-than-24-hours/

"FAIR" lol

[HostFat]

I think that Youtube accounts are different than Facebook accounts.
What if distributer-app checks all these things?
- how old is the facebook account (ex: it must be older than X months than the launch of the alt-coin)
- how many friends it has (more than a lower average)
- if the has a confirmed phone
- ...

[HostFat]

There was a guy that collected 2 M stellars within 48 hours.

https://stellartalk.org/topic/34-how-i-accumulated-2-million-stellar-in-less-than-24-hours/

"FAIR" lol

Did you read this also?

What can Stellar do to prevent this?
 
I think there are a few possibilities.
- There could be a significant delay (perhaps 24 hours) before giving the reward. This would prevent people from paying for a transaction that only takes 3-minutes in total.
- Stellar could pause the rewards altogether and distribute it a little slower.

Stellar has changed the way to distribute them, and it is using both things right now.
So even alt-coin devs can do the same.

[DannyElfman]

I think that Youtube accounts are different than Facebook accounts.
What if distributer-app checks all these things?
- how old is the facebook account (ex: it must be older than X months than the launch of the alt-coin)
- how many friends it has (more than a lower average)
- if the has a confirmed phone
- ...

They already do that. Blackhats are always one step ahead. If there is a way to exploit something, they will.

[Benjig]

Anyway the lucky ones were who grab them in first 2 days, now you need 10 more real or fake accounts to get the original reward.

[HostFat]

They already do that. Blackhats are always one step ahead. If there is a way to exploit something, they will.

I'm sure that it's possible, but how much does a good Facebook and verified account costs? (it must respects all the checks)

If you show me that the price of a bunch of good Facebook and verified accounts (older than the launch of the alt-coin) always costs less than $10, than ok, it is probably not a good idea

[DannyElfman]

They already do that. Blackhats are always one step ahead. If there is a way to exploit something, they will.

I'm sure that it's possible, but how much does a good Facebook and verified account costs? (it must respects all the checks)

If you show me that the price of a bunch of good Facebook and verified accounts (older than the launch of the alt-coin) always costs less than $10, than ok, it is probably not a good idea

10$? More like a few bucks. Those processes can be automated as facebooks verification system is also seriously flawed. I read on a big blackhat forum, that some guys buy a landline with an unlimited number of phone extensions. Then they mass register accounts to abuse facebooks ad system and sell likes and reposts and friends. Those accounts are made extremely fast and cheap. If those guys would get 10$ per account they'd just make tons more and sell until price goes down

Facebook released a statement in one of the stock related publishings, that they beleive up to 25% are fake accounts (I think that number is too small!)

[HostFat]

10$? More like a few bucks. Those processes can be automated as facebooks verification system is also seriously flawed. I read on a big blackhat forum, that some guys buy a landline with an unlimited number of phone extensions. Then they mass register accounts to abuse facebooks ad system and sell likes and reposts and friends. Those accounts are made extremely fast and cheap. If those guys would get 10$ per account they'd just make tons more and sell until price goes down

Facebook released a statement in one of the stock related publishings, that they beleive up to 25% are fake accounts (I think that number is too small!)

Please, sure it can be true, but without link to the source and proofs it's just cheap talk.
You can even find hitman on the deepweb

Bytheway, it seems that with Stellar and their new checks it's working well.
Are there any new Stellar millionaires that have spent just few bucks?

Anyway, I hope that the next alt-coins will use this kind of system di distribute their pre-mined coins, it will be good for them and for the cryptocurrency community in general.

[Viper1]

10$? More like a few bucks. Those processes can be automated as facebooks verification system is also seriously flawed. I read on a big blackhat forum, that some guys buy a landline with an unlimited number of phone extensions. Then they mass register accounts to abuse facebooks ad system and sell likes and reposts and friends. Those accounts are made extremely fast and cheap. If those guys would get 10$ per account they'd just make tons more and sell until price goes down

Facebook released a statement in one of the stock related publishings, that they beleive up to 25% are fake accounts (I think that number is too small!)

Please, sure it can be true, but without link to the source and proofs it's just cheap talk.
You can even find hitman on the deepweb

Bytheway, it seems that with Stellar and their new checks it's working well.
Are there any new Stellar millionaires that have spent just few bucks?

Just did a search and found that I could buy 90 day old facebook phone verified accounts for $3 each. Hell, those guys will even fill out the account with a "history" etc so it looks totally legit with friends and everything.. lol

[meganite]

Verified Facebook accounts .... because it's difficult that there will be more than one account for person.

That's completely false. There are TONs of people with more than one "verified" account. Not to mention all the "blackhatters" that have boat loads of accounts. Guys that are making a shit ton of money using facebook ads go through a lot of "agency advertising" accounts as well which aren't easy to setup and yet they create new accounts day after day when their others get shut down. Couple months ago I wanted to test something and bought 25 youtube phone verified accounts for $5. I'm sure you could find the same sort of thing for facebook.

Fact is, there's no way to distribute anything "fairly" on the internet as there are always people that can come up with a way to get a lot more than anyone else. Not to mention that not every uses or wants to use facebook (there's threads on the Stellar forum complaining about the use of facebook).

+1

Using FB to distribute is not a good idea for a multitude of reasons: inherently unfair for most (see above), big privacy concerns, use of two centralized corporate authorities to distribute, etc.

[Anon39]

I think it may be a good idea.
With Stellar project i saw a lot of people asking friends to register to send them the 1000 free Stellars. I think it can help criptocurrencies to go mainstream.
With a combo of: high restricted facebook verification, ip verification and captha code i think that it will not be worth for 1-2$ free money to use fake accounts