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Stellar - New Crypto by Stripe

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Rob

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Location: California

Anyone heard of Stellar before? Developed by Stripe CEO Patrick Collisoon and Jed McCaleb (founder of Gox and Ripple)...

http://fortune.com/2014/07/31/stripe-launches-bitcoin-challenger-gives-it-away-for-free/

Posted on July 31, 2014 at 2:25 PM

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• Mike

  

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  Location: Chicago, IL

  Darn -- you beat me to it. It is a carbon copy of Stellar. It launched all of 30 minutes ago. Jed -- one of the cofounders of Ripple basically said "screw you" to Ripple Labs for the way they were directing Ripple. He copypasta'd it (essentially) and launched it with a non-profit at the head instead of a business.

  Also -- for anyone interested -- part of the initial giveaway is to send 1000 stellar to an entity and receive another 1000 in return. If you sign up, send the 1000 stellar my way (username: mjroncone) and I'll send 500 back.

  Just ping me with your Stellar username here and I'll shoot it back.

  (win-win for us both. You get 1500 in return instead of 1000 and I get 500. Cheers!)

  launch.stellar.org is the sign-up portal

  Posted on July 31, 2014 at 2:29 PM
  Last Edited: July 31, 2014 at 2:48 PM
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• mdw

  

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  Location: orphaned block

  I got disgusted and did not finish the process to get my free 5000 Stellar. First grimace came when they emailed the access code to my account in cleartext, then the coup de gras was requiring access to my Facebook account.

  I was mildly curious when I initially signed up like a month ago, but there are too many truly interesting things out there - I am just not that curious to warrant jumping through these particular hoops. Stellar - truly a misnomer.

  Posted on July 31, 2014 at 3:07 PM
  Last Edited: July 31, 2014 at 3:09 PM
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• Cryptonaut

  

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  @mike Darn -- you beat me to it. It is a carbon copy of Stellar. It launched all of 30 minutes ago. Jed -- one of the cofounders of Ripple basically said "screw you" to Ripple Labs for the way they were directing Ripple. He copypasta'd it (essentially) and launched it with a non-profit at the head instead of a business.

  Also -- for anyone interested -- part of the initial giveaway is to send 1000 stellar to an entity and receive another 1000 in return. If you sign up, send the 1000 stellar my way (username: mjroncone) and I'll send 500 back.

  Just ping me with your Stellar username here and I'll shoot it back.

  (win-win for us both. You get 1500 in return instead of 1000 and I get 500. Cheers!)

  launch.stellar.org is the sign-up portal

  so its actually just a re-boot of ripple basically?

  Posted on July 31, 2014 at 3:13 PM
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• Mike

  

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  Location: Chicago, IL

  @cryptonaut

  so its actually just a re-boot of ripple basically?

  It appears to be, in just about every way, shape, and form.

  From what I can tell though, after following Ripple for quite some time, is that Ripple Labs has changed their focus. Instead of creating a financial system for the regular Joe, they are building out their network for being the backend framework for banks and other financial intermediaries.

  Jed wasn't a fan of this switch, and I believe has created Stellar with the intent of being the wallet that Joe Schmoe uses every day.

  Posted on July 31, 2014 at 3:16 PM
  Last Edited: July 31, 2014 at 3:16 PM
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• Jedwardo

  

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  @mdw I was also bothered by both of the things you mentioned, but I finished the process anyway. Now, I'm on the wait list and it says I'll receive them tomorrow. However, there are tons of people on the forums sending them around. If they're trying to get people interested by giving it away, then I don't understand the need for a wait list. I may have lost interest by tomorrow. A lot can happen in the crypto world in a day.

  @Mike There are already several similar offers on the Stellar forums offering to return as much as 800 of the original. You may have to bid a little higher.

  Posted on July 31, 2014 at 3:19 PM
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• Mike

  

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  Location: Chicago, IL

  @cryptonaut

  I'm actually trying to bust out a column submission to talk about this more, since I've followed Ripple for a very long time and have been with it through all the ups and downs. Hopefully will shed more light on the situation.

  @mdw

  @Mike There are already several similar offers on the Stellar forums offering to return as much as 800 of the original. You may have to bid a little higher.

  Yeah, I know there were. My bid will stay where it is for the hassle of dealing with sorting through the mess. If people feel like keeping it inside the LTB community then cool, if not, I encourage them to go through and get the extra 300. Thanks for the heads up, though.

  Posted on July 31, 2014 at 3:21 PM
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• page

  

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  landtheft - that is my username! I just made an account, what now? How do I get tokens to send them to people? Do you need a FB account, because I have never used that piece of junk in my life and I'm not about to sign up for it now.

  Posted on July 31, 2014 at 3:47 PM
  Last Edited: July 31, 2014 at 3:49 PM
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• Mike

  

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  @page landtheft - that is my username! I just made an account, what now? How do I get tokens to send them to people? Do you need a FB account, because I have never used that piece of junk in my life and I'm not about to sign up for it now.

  Yes, unfortunately at the moment the only way they have to verify real users is through facebook. Thus, you can't currently acquire STR without one.

  Posted on July 31, 2014 at 3:58 PM
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• dpc

  

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  @rob Anyone heard of Stellar before? Developed by Stripe CEO Patrick Collisoon and Jed McCaleb (founder of Gox and Ripple)...

  http://fortune.com/2014/07/31/stripe-launches-bitcoin-challenger-gives-it-away-for-free/

  You had me at "Mt. Gox founder." How can I send my bitcoin there :)

  Everything about this smells funny. Gox, ripple, credit card company, facebook..... But I'm a sucker for free and signed up anyway. User: dane

  Posted on July 31, 2014 at 4:11 PM
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• Mike

  

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  Location: Chicago, IL

  @dpc

  @rob Anyone heard of Stellar before? Developed by Stripe CEO Patrick Collisoon and Jed McCaleb (founder of Gox and Ripple)...

  http://fortune.com/2014/07/31/stripe-launches-bitcoin-challenger-gives-it-away-for-free/

  You had me at "Mt. Gox founder." How can I send my bitcoin there :)

  Everything about this smells funny. Gox, ripple, credit card company, facebook..... But I'm a sucker for free and signed up anyway. User: dane

  While I'm not the biggest fan of Jed either, his results speak for themselves. He was the founder of Mt. Gox, not the operator when it went to the shitter. Stripe also facilitates bitcoin payments. Facebook is because it is the easiest and largest network to verify that people are not creating dummy accounts to game the giveaway.

  Posted on July 31, 2014 at 4:22 PM
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