Logged Conversation (all times UTC)
[03:59] <IAmNotDoritos> nice pump
[04:02] <everettForth> yeah IAmNotDoritos
[04:03] <everettForth> I wish i knew more about it
[04:11] <IAmNotDoritos> lol
[04:11] <IAmNotDoritos> unless i'm mistaken
[04:11] <IAmNotDoritos> everyone will be getting stellar for free with their bitcoin addresses
[04:12] <IAmNotDoritos> starting next month
[04:16] <everettForth> IAmNotDoritos: it's not that simple
[04:17] <IAmNotDoritos> did they change it?
[04:17] <everettForth> IAmNotDoritos: people may need a million dollars worth of bitcoin to claim a thousand dollars worth of stellar. Everything unclaimed likely goes back to SDF
[04:18] <IAmNotDoritos> not at the current valuation
[04:18] <everettForth> it's likely that coinbase will claim their stellar. It's not clear to me how proactive coinbase will be at giving stellar to their clients
[04:20] <IAmNotDoritos> looks like btc holders will be given 4% of their BTC value in STR
[04:20] <everettForth> ok, I guess bitcoin is about 4x the total market cap, and they're giving ~20% to bitcoin holders, so it's a 20x difference. Holding $20k worth of bitcoin lets you claim $1k worth of stellar
[04:21] <everettForth> yes, your math is probably closer to correct, IAmNotDoritos
[04:21] <everettForth> I expect market volatility when that happens
[04:22] <IAmNotDoritos> so yeah i think its a very bad idea to be buying STR
[04:22] <everettForth> but bitcoin holders by and large tend to hold on to virtual currency
[04:23] <everettForth> man, that's going to be really interesting
[04:23] <IAmNotDoritos> demand for STR will have to be super low at that point tho
[04:23] <IAmNotDoritos> airdrops rarely retain their value
[04:24] <everettForth> Any idea who much bitcoin coinbase holds?
[04:24] <IAmNotDoritos> stellar has basically done an auroracoin
[04:24] <everettForth> how much
[04:25] <IAmNotDoritos> nope
[04:26] <kronicblazer> when is the airdrop?
[04:26] <everettForth> kronicblazer: in the mandate, it says 4 months into launch I believe
[04:26] <everettForth> so, they have a deadline, but no hard date set yet
[04:26] <kronicblazer> ok
[04:27] <kronicblazer> thx
[04:27] <everettForth> I could see them giving away 4B STR, and most people who get it won't sell
[04:28] <everettForth> It will also create demand because of a lot of publicity
[04:29] <everettForth> I don't think it's necessarily going to move the price down, but I expect volatility for sure
[04:35] <IAmNotDoritos> i read the stellar forum post yesterday
[04:35] <IAmNotDoritos> it said airdrop 6 months after launch
[04:36] <everettForth> whoa, the market cap of auroracoin was at one point $200M, now it's $50k
[04:36] <IAmNotDoritos> auroracoin was 1B
[04:36] <IAmNotDoritos> believe it or not
[04:36] <everettForth> I guess it looks like maybe it touched that for a day
[04:37] <IAmNotDoritos> was amazing cause iceland gdp is only 14B
[04:38] <IAmNotDoritos> i like stellar but it doesnt really represent a store of value
[04:39] <IAmNotDoritos> i might make a stellar gateway
[04:39] <everettForth> IAmNotDoritos: I'm trying to sell my gateway if you're interested
[04:40] <everettForth> onecred.com
[04:41] <IAmNotDoritos> how much?
[04:41] <IAmNotDoritos> i'll prob just make my own cause i need to learn how it works
[04:42] <IAmNotDoritos> also concerned about the IOU system
[04:42] <everettForth> I don't know, you could make an offer. I'm not expecting to be able to sell for a lot. But building it was very educational, so making your own is a good way to learn about Stellar
[04:42] <IAmNotDoritos> can't u get screwed by another gateway?
[04:43] <everettForth> onecred can't get screwed by another gateway
[04:43] <IAmNotDoritos> so it doesnt trust other nodes?
[04:43] <everettForth> users can get screwed if they trust an untrustworthy gateway
[04:43] <everettForth> no
[04:43] <everettForth> all it does is
[04:43] <IAmNotDoritos> issue IOUs right
[04:43] <everettForth> you send it bitcoin, and it issues you a bitcoin iou
[04:43] <IAmNotDoritos> for crypto
[04:43] <everettForth> you send it a bitcoin iou, and it sends you bitcoin
[04:44] <everettForth> ok, I gotta run
[04:44] <IAmNotDoritos> and you only accept IOUs that you issued
[04:44] <everettForth> yep
[04:44] <IAmNotDoritos> ok
[04:44] <IAmNotDoritos> bye
[05:11] <sammy007> So how much free coins i can receive using FB account?
[12:07] <Stellarfan> Connecting to: { "result" : { "peers" : null, "status" : "success" } }
[12:07] <Stellarfan> can anyone help ?
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