Learn about Stellar Lumens | Hacker News Reader

Learn about Stellar Lumens

blog.coinbase.com

19 pointstosh11 comments

These kind of tactics should be extremely frowned upon. Stellar is created from thin air (without mining) and they hold the majority of Stellar which increases the price through artificial scarcity. Then they can bribe people and organizations with this artificial price. Same story as in Ripple who bribes banks to use their system.

It's almost as it is an inverse pyramid scheme: you have a lot of stuff, so now you have to convince a lot of people that what you have is worth something, by giving them the stuff.

Now they are interested in stuff being valuable too.

> Eligible Coinbase customers in the US will receive an email invitation over the next few days to earn up to $10 of XLM by viewing Stellar tutorials and answering quiz questions. By sharing their unique referral link, customers will also be able to earn up to $40 more of XLM by inviting four eligible friends to complete the lesson.

If a brokerage did this with “learning about index options” or a forex shop did this with “learning about currency pairs” I’d seriously question their intentions. Especially the part about being paid to get your friends and family on board.

What's the reason for Stripe and Coinbase to push Stellar like this? I thought it was just another cryptocurrency and nothing special.

Keybase has Stellar support too, I think the main differentiator is the lack of blockchain, so it would in theory scale better than blockchain based solutions (and it seems to have avoided the cryptographic suck that is IOTA).

It's their cryptocurrency

Stripe has bought early in Stellar Lumens (they own 2% of the supply). But did Coinbase do something similar ?

What Stellar needs - or any other cryptocurrency - is a way to directly buy with Stripe or preferred with PayPal. Then we can add business models where users of your service can easily buy XLM and be used by your service.

As long as I need to tell users they need a wallet and buy on some website they've never heard of, it's not working for anyone outside of cryptocurrencies.

If you could just cash out of Stripe with a cryptocurrency of your choosing it could work that way could it not?

Yes.

I think that might be the "best" we can get to, a system that takes cash and is willing to cash you out in some cryptocurrency. I coulda sworn to some extent you could do that with CoinBase to some degree, where you accept a bitcoin payment and the other party uses their card, but CoinBase doesn't have the 'seamless' brand recognition that someone like Stripe does atm. People use Stripe cause it's convenient as heck, at a food truck they can take my card and so long as they're not stealing my info I don't care.

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