Topic: .. (Read 1241 times)

I had totally forgotten about my 5000 free stellar, now worth ~ 14$...woot woot!

I knew I had an alt that I got free from somewhere, I even remembered that it was vaguely similar to ripple...but I just couldnt remember what it was called, lol.

I think the alt market is benefiting from the lull in BTC cap. Dont think anyone is going to use the stuff tho.

oh well, thanks for the 14$ guys, that buys me a coffe and a danish and maybe a small tea for my girl! Maybe I'll just hodl and wait till I can buy 2 large coffees and 2 danishes... where do you sell these stellar things again???

Ripple Labs has run giveaways, and encountered issues similar to those SDF is facing. A major problem is the scammers they attract and the question of what value they actually add.

Delivering large quantities of free XRP/STR to bad actors does not add clear value to these networks, in terms of utility. All that I can see is that if the objective is to solicit pump/dump crowds and hoarders, then mass giveaways satisfy that criteria. Large scale bot network operators and fraud rings end up with vested interested in promoting the currency, so that they can then sell out at top dollar.

From the perspective of trying to build a healthy network and user community, it is a high risk (and arguably stupid) approach. It is a difficult problem to solve for, and I will be interested to see if SDF can turn things around (I am kind of excited about that, actually). At the moment, my understanding is that SDF has struggled at a technical level due to the massive number of wallets scammers have created. Malicious actors have also attacked the network directly, attempting to disrupt the service (so not all technical issues have been giveaway strategy related - highlighting that for fairness, but some issues have arguably also been purely internal).

Ripple Labs is all about utility, and attracting people who will add value to the network.

At a small scale, they are pursuing this by supporting the CrossCoin Ventures startup accelerator. Attracting innovators to the network is a clear value add. It opens the door for new services, businesses, and organizations based around the network. Developer bounties have also been used.

joelkatz phrased the distribution issue extremely well:

Well they pretty much scammed Jed by doing that, as a lot of fake Facebook accounts were made. The earnings from this little adventure were dumped on market, to the detriment of the Stellar holders of course. Exploited it too euphemistic, where scamming in hindsight also doesn't really grasp the situation.

Whoa, Nelly!  My 10,400 Stellar are worth $30 again!  Whoo-hoo!  I figure, I didn't pay a penny for them, so whether they soar to the moon or are buried 6 ft. under, it's no matter to me.  I'd like to think I could put my Stellar into a wallet and have it stake and earn interest, but... whatever.  I hope this upward trend continues... I'd like to see $50-$100... think it'll happen?

I'd say they just exploited the giveaway, not scamming anyone.

• Failed distribution program
• Chronic absence in the community
• Inflation tax favoring the wealthy (most notably SDF itself) - and they clearly understand the implications
• Misleading statistics
• Non-profit money minting operation subsidized by US tax payers?

Stellar Development Foundation is much closer to the paranoid fantasy that you are attempting to apply to Ripple Labs.

I want to acknowledge that I think SDF has hired some awesome seeming individuals, with undoubtedly great intentions, but the organization is fucked up at a higher level.

Graydon Hoare at SDF has been absolutely awesome in bringing up the desire for collaboration with the Ripple Labs dev team: "mutually reinforcing code bases.". He is the creator of Rust, for those unaware!!!

Cheers to all of the good people on the SDF team, and I hope you get things straightened out!

I want a healthy collaborative RTXP ecosystem.

That is also what slows it down in development if you ask me. There is no central decision making entity, and what we are stuck with now in Bitcoin is the vague prospect of 'additional layers built on the protocol'. Additional layers which are still missing after months of talk revolving around it. Anyways, don't draw the distinction so sharp: Bitcoin is very much centralized in terms of use, as a result of the place that centralized exchanges occupy in Bitcoin. In practice, it comes down to a system that can be easily taken down, regardless what people like to tell themselves here.

Ripple was manipulating # of available supply through Gliss on coinmarketcap.

Stellar is employing the same trick if you use the "way back machine" on Google search, supply has nearly doubled in the past 30 days even though Stellar-Strip ("the SS") still controls like 95%+ of the total supply.

I can't believe how crooked Gliss has become.  How much did they pay him off?

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Did you actually follow the news around Stellar? This isn't unreasonable what I'm stating, given how the entire give away (via Facebook authentication...I'm not kidding) failed and resulted in many STR ending up in the wrong hands. 45% in one day, without even a gradual rise in advance (as with Ripple) sounds a bit fishy if you ask me.

Also, I don't know if you are in any way known with Jed McCaleb, but this guy is clearly unstable. He wants to make his new project a success, so he'll do anything to satisfy his ego in that regard. Therefore I really see him buying into his own coins, although another scenario cannot be ruled out. Stellar is just Jed and a hand full of other people: Ripple Labs hires over 60 people and has received numerous venture capital injections. That is quite the difference in credibility and level of advancement if you ask me.

Jed McCaleb probably noticed that his entire project was failing, so he bought some of his own supply. He had to create some trust after the entire give away failure, which made quite a few scammers pretty damn rich.

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