![]() ![]() I am not a fan of Stellar and also not a fan of "pay-to-play" marketing schemes. If you don't like ANY crypto that won't be much of a consolation I understand, but it makes me hopeful. However, on the plus side Keybase founders are big Bitcoin supporters, and looking at the code the wallet functionality was built with adding more currencies in mind. Keybase removing Stellar won't happen based on ideological reasons. Keybase and Stellar share a common investor and share developer resources since last year. There is a reason why Stellar doesn't require electricity: it relies on trust. The reason electricity is dedicated to the Bitcoin network is to make it secure and decentralized. ![]() In addition, the power usage required for Keybase's underlying technologies and coporate structure (banking, the internet, computer hardware, servers, mining for minerals used in components, etc.) is far greater than Bitcoin's. The Bitcoin network has a power consumption of around 5000MW, which is less that the power that Quebec alone wastes every year from the surplus of its hydro-electricity. It doesn't burn more electricity than a small nation: I'm assuming this is a comment aimed at SHA256 bitcoin miners.It's more akin to SWIFT (the wire transfer protocol) to a cryptocurrency. Currencies and tokens are merely debts, and messages. It natively understands currencies and tokens: Much like visa and mastercard, an XLM transaction is only good if the underlying "banks" (gateways) honor the IOU.It requires a counterparty, and the counterparty settlement is not fast and cheap. It's ultra fast and cheap: that is the result of using a centralized network where users don't run full nodes, which defeats the entire point.A simple "I want a Stellar Wallet" option when downloading the client would be great. To protect the Keybase user experience and to protect the privacy of users, I strongly urge Keybase to make the Lumens wallet an optional, opt-in feature. STILL VALID: In addition, it can only be described as a pyramid scheme, and is fundamentally insecure. NOT A RISK, SEE COMMENTS: As such, it is very detrimental to Keybase users to be forced to expose themselves to legal liability of having a lumens wallet, with little to no upside. The fact that startups are literally giving away millions of dollars worth of lumens should be extremely alarming. Because it is NOT a trustless decentralized consensus algorithm, rather a consortium of legally-liable trusted nodes, it is not a reliable payment method and as such has not seen widespread merchant adoption. The economics of Lumens are built so that the value of the coin will tend towards zero, with no incentive for holders. The requirement in Canada states that users must divulge all cryptocurrency addresses under their control. NOT A RISK, SEE COMMENTS BELOW: Having a stellar lumens wallet exposes users to legal liabilities, including, in Canada, an obligation to divulge that they are cryptocurrency owners. Stellar is an insecure (useless?) (pyramid scheme?) (pump and dump scheme by venture capitalists?) fork of the Ripple Protocol (scam!) - see more here: ![]()
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