BitShares Forum
Main => General Discussion => Topic started by: bytemaster on February 23, 2016, 11:26:48 pm
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I am curious how much Stellar and Ripple paid each user who signed up on their platform.
I am particularly interested in the dollar value they gave away.
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It calls to mind receiving 1,000 XRP on OpenCoin's first Giveaway, this was back when ripple was still in private beta. The amount was equivalent to $8 USD (Feb 2013). I will try to find out though, how much was given on platform upon account creation.
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It calls to mind receiving 1,000 XRP on OpenCoin's first Giveaway, this was back when ripple was still in private beta. The amount was equivalent to $8 USD (Feb 2013). I will try to find out though, how much was given on platform upon account creation.
Yeah I remember 1000 as well, with some clever referral stuff,
"you get 1k Free STR for sending 1k STR.. Hence if you send me the 1K... I'll send 500 back to you. (https://bitcointalk.org/index.php?topic=719835.0)"
At 10-20 mill (https://coinmarketcap.com/currencies/stellar/#charts) marketcap 1000-2000 is 4-16 dollars.
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I think they were targeting around $10 for the givewaway...
http://www.betangel.com/forum/viewtopic.php?f=35&t=9544
6,000 STRs on launch.. (5000 and 1000 for sending)..
I think maybe 98%+ were fake/farmed accounts, but they did reach 6 million accounts which is impressive: https://www.stellar.org/stats/
Even a tinier % are probably active...
There is probably a way to make a free distribution work if you can prevent sybils...
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Now that users can get verified by Openledger (https://openledger.info/v/) we have at least some accounts that we can be quite sure they are not fakes. Of course they represent very small percentage of our userbase, but giving some signup bonus for them might encourage direct fiat deposits which would be really great.
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Stellar was offering 10k or 7k at the beggining if im not mistaken, then they reduced. I Managed to get around 300k stellars though
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Stellar started with the intention of giving away circa $10 I believe but it dropped to <$0.5 in a matter of days :)
I don't know if that's part of the initial startegy, but that's a big drop, giving away 7000 to giving away 125. ( A 98% drop!) So I think if that's right in $ terms they're down to giving away $0.5
Yea I am reading through their thread now. Starting with 6900 stellar was huge and created a great buzz but they would have crashed the market if they didn't scale back when people started dumping
Shortly after I believe they switched to a new discretionary invite system based on 'geographic/demographic criteria' that made it very hard to track where the STR was going. If it was being released at all ;)
Stellar's CAP is holding up well but their price and more importantly their 24 hour $ traded volume is constantly falling. This is inconsistent with having nearly double the amount of stellar in circulation as last week imo.
I think the crushed sharedrop plus the combination of an invite system that is applied by some discretionary geographic/demographic criteria makes it very hard for you to track where all the new Stellar is going.
So my conclusion at the time was like all other sharedrops they started haemorrhaging money and had to drastically reduce it to less than $1 and ultimately may have even resorted to having their advertised share supply increase, so that their CAP could rise but without actually giving those STR away.
The strategy can work if you have funds set aside like PayPal but if you try to fund a specified $ amount with immediately tradeable shares in a speculative start up, then 99% of the time it results in a very large loss.
We also followed NXTTY on this forum as a case study as they attempted to give 2500 NXTTY or $7 each at the start to new users.
You are right. Traditional companies have over DACs that they can intentionally take a hard short term hit. DACs on the other hand will lose investors the moment hard times begin. Share issuance divides the cost among every stakeholder now, but there is not yet any agreed upon method to divide cost among DAC stakeholders across time. Losing 7/8ths of their value NXTTY may be unable to recover at this point.
Never say never, but it looks gloomy for NXTTY.
(http://i59.tinypic.com/sv1l6p.jpg)
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Stellars airdrop was a huge joke/failure. not much, since they stopped it very early and hold on every coin ever since