Topic: Stellar - page 29. (Read 521267 times)
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.
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. 
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.
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.
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.
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.
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.
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.
> 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.
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.
> 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.
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.
I see that many people here don't understand the core ideas behind Stellar/Lumens.
Calling it pre-mined when there is no actual mining going on and smilier misunderstandings.
I wrote an overview of Stellar if someone is interested in learning more about it:
https://galactictalk.org/d/1-start-here-everything-you-need-to-know-about-stellar
Regarding the price of Lumens. When the Bitcoin giveaway was announced the price already adjusted. I think it was a 20% drop.
Many people will not claim the Bitcoin reward and many Bitcoins are already lost (Satoshi's coins). So you should worry more about the October giveaway:
https://www.stellar.org/blog/build-challenge/
And I think Jed said somewhere this will be the coins not claimed now. So Stellar.org is only expecting 1B to get to users now.
Usually the trading volume is not too high for Lumens, but if you look at last week it exploded and the price increased again 20%.
Obviously someone was buying a big amount until exhausting the "cheap" supply.
With such love liquidity it's impossible to predict how the price will behave in the future.
Also note that Stripe bought 2 billion Lumens for 2 million USD:
https://stripe.com/blog/stellar
What results in a price of $0.0015 per Lumen. If you look at the last 6 months you will see that the price was always fluctuating a bit above this value.
So please check everything before trading Lumens. You don't want to end up in a margin short while some financial institution is buying a few millions.
Calling it pre-mined when there is no actual mining going on and smilier misunderstandings.
I wrote an overview of Stellar if someone is interested in learning more about it:
https://galactictalk.org/d/1-start-here-everything-you-need-to-know-about-stellar
Regarding the price of Lumens. When the Bitcoin giveaway was announced the price already adjusted. I think it was a 20% drop.
Many people will not claim the Bitcoin reward and many Bitcoins are already lost (Satoshi's coins). So you should worry more about the October giveaway:
https://www.stellar.org/blog/build-challenge/
And I think Jed said somewhere this will be the coins not claimed now. So Stellar.org is only expecting 1B to get to users now.
Usually the trading volume is not too high for Lumens, but if you look at last week it exploded and the price increased again 20%.
Obviously someone was buying a big amount until exhausting the "cheap" supply.
With such love liquidity it's impossible to predict how the price will behave in the future.
Also note that Stripe bought 2 billion Lumens for 2 million USD:
https://stripe.com/blog/stellar
What results in a price of $0.0015 per Lumen. If you look at the last 6 months you will see that the price was always fluctuating a bit above this value.
So please check everything before trading Lumens. You don't want to end up in a margin short while some financial institution is buying a few millions.
That's all great but giving them away for free results in a price of $0
Apparently Poloniex will be taking part in the giveaway when it happens. So if you have BTC on there it should receive an allocation of free Lumens.
Didn't know this, thanks. Use coinbase primarily at the moment, was going to a paper walle t to ensure I would have the wallet keys for the address in case it was needed. Polo is pretty cool about shit like this, Ill most likely just do it on their platform
I see that many people here don't understand the core ideas behind Stellar/Lumens.
Calling it pre-mined when there is no actual mining going on and smilier misunderstandings.
I wrote an overview of Stellar if someone is interested in learning more about it:
https://galactictalk.org/d/1-start-here-everything-you-need-to-know-about-stellar
Regarding the price of Lumens. When the Bitcoin giveaway was announced the price already adjusted. I think it was a 20% drop.
Many people will not claim the Bitcoin reward and many Bitcoins are already lost (Satoshi's coins). So you should worry more about the October giveaway:
https://www.stellar.org/blog/build-challenge/
And I think Jed said somewhere this will be the coins not claimed now. So Stellar.org is only expecting 1B to get to users now.
Usually the trading volume is not too high for Lumens, but if you look at last week it exploded and the price increased again 20%.
Obviously someone was buying a big amount until exhausting the "cheap" supply.
With such love liquidity it's impossible to predict how the price will behave in the future.
Also note that Stripe bought 2 billion Lumens for 2 million USD:
https://stripe.com/blog/stellar
What results in a price of $0.0015 per Lumen. If you look at the last 6 months you will see that the price was always fluctuating a bit above this value.
So please check everything before trading Lumens. You don't want to end up in a margin short while some financial institution is buying a few millions.
Calling it pre-mined when there is no actual mining going on and smilier misunderstandings.
I wrote an overview of Stellar if someone is interested in learning more about it:
https://galactictalk.org/d/1-start-here-everything-you-need-to-know-about-stellar
Regarding the price of Lumens. When the Bitcoin giveaway was announced the price already adjusted. I think it was a 20% drop.
Many people will not claim the Bitcoin reward and many Bitcoins are already lost (Satoshi's coins). So you should worry more about the October giveaway:
https://www.stellar.org/blog/build-challenge/
And I think Jed said somewhere this will be the coins not claimed now. So Stellar.org is only expecting 1B to get to users now.
Usually the trading volume is not too high for Lumens, but if you look at last week it exploded and the price increased again 20%.
Obviously someone was buying a big amount until exhausting the "cheap" supply.
With such love liquidity it's impossible to predict how the price will behave in the future.
Also note that Stripe bought 2 billion Lumens for 2 million USD:
https://stripe.com/blog/stellar
What results in a price of $0.0015 per Lumen. If you look at the last 6 months you will see that the price was always fluctuating a bit above this value.
So please check everything before trading Lumens. You don't want to end up in a margin short while some financial institution is buying a few millions.
3 billions is just the beginning, 20 billions will be given away to bitcoin holders in the near future.
Well if that's true then say goodbye to Lumens and STR.
I disagree, distribution is beneficial IMO.
Maybe but it will kill the price in the short term. This should have been done 2 years ago when it launched. Doing it now just punishes the current people who paid for their coins.
Jdj1727: "So, just so I understand...On July 4th, 3 billion more STR/XLM will be hitting BTC wallets/exchanges?"
No July 5th is when we are starting the lumen giveaway to bitcoin holders. The lumens go out as people claim them. We will see how many people claim them and how long it takes but it will be at the very least over the course of weeks.
electronicash: "is there really something laid for STR holders?"
Yeah tons of things going on. Check out blog for the latest updates: https://www.stellar.org/blog/
M28MmickT: Stellar has no mining so it isn't really a premine. The currency all exists when the network starts. Details about how the lumens will be distributed are here: https://www.stellar.org/about/mandate/
> "You should give away at least 80% of your coins if you want this project to have real success."
we are giving away 95% of the lumens so I agree with you.
btctube: "scares me to death. anyone could guess who owns that account?"
What account?
No July 5th is when we are starting the lumen giveaway to bitcoin holders. The lumens go out as people claim them. We will see how many people claim them and how long it takes but it will be at the very least over the course of weeks.
electronicash: "is there really something laid for STR holders?"
Yeah tons of things going on. Check out blog for the latest updates: https://www.stellar.org/blog/
M28MmickT: Stellar has no mining so it isn't really a premine. The currency all exists when the network starts. Details about how the lumens will be distributed are here: https://www.stellar.org/about/mandate/
> "You should give away at least 80% of your coins if you want this project to have real success."
we are giving away 95% of the lumens so I agree with you.
btctube: "scares me to death. anyone could guess who owns that account?"
What account?
All this doom and gloom and publically talking of opening shorts makes me think maybe I should grab some stellar for the upcoming pump 
I am still waiting for this coin to settle down on a much favorable price, maybe in 2 weeks , price will be much better to buy.
All this doom and gloom and publically talking of opening shorts makes me think maybe I should grab some stellar for the upcoming pump
3 billions is just the beginning, 20 billions will be given away to bitcoin holders in the near future.
Well if that's true then say goodbye to Lumens and STR.
Apparently Poloniex will be taking part in the giveaway when it happens. So if you have BTC on there it should receive an allocation of free Lumens.
The 3Billion coin dump is insane. It will take the price below 100 sats.
Was thinking about this. I plan to claim my lumens, free coins lol, but I'm concerned so will the rest of the crypto world, and in near the same time frame. Price will plummet, question is should I sell ASAP, or hodl since they are free and hold long term? Can always rebuy cheaper I feel, seems like the stronger strategy.
Depends if you want to hold them long term or not. If you sell now and buy during the expected dump you can get them at a lower price and effectively increase the amount you have. The risk is always that the dump may not happen or may be delayed. I'm selling some of mine to buy back lower but will hold on to a small amount in case of any crazy unexpected market behaviour.
The 3Billion coin dump is insane. It will take the price below 100 sats.
Was thinking about this. I plan to claim my lumens, free coins lol, but I'm concerned so will the rest of the crypto world, and in near the same time frame. Price will plummet, question is should I sell ASAP, or hodl since they are free and hold long term? Can always rebuy cheaper I feel, seems like the stronger strategy.
scares me to death. anyone could guess who owns that account?
The 3Billion coin dump is insane. It will take the price below 100 sats.
That's what I'm thinking. Isn't this an obvious short to make? Unless I'm missing something.
Then you should dump now and not wait until that dump, those 3 B is good, the real danger is devs keeping them along with all their rest of premine, small market can recover easily from a dump, a big market cap (100 million usd) or more will not recover easily from a dump like that, it could kill the coin.
I'm considering opening a short position. but I just wanted to make sure that I correctly understood what was happening. I've never really looked into STR before the last few days.
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