Cryptocurrency wallet and data provider Blockchain has announced an
airdrop of USD 125 million in Stellar Lumens (XLM), nearly half a
billion tokens, in an attempt to boost crypto adoption. However, the
news didn’t elicit as much of a positive response as the company
might have hoped: the community is not persuaded that this is the best
way to foster adoption, arguing that it doesn’t make sense.
Even immediately following the announcement on Twitter, replies like
“This must be a scam” began to flood in. Pierre Rochard, founder of
Bitcoin Advisory , a firm that specializes in Bitcoin's economics and
software engineering, wrote, “Be very careful about using services
that enable ‘give away’ scams, it likely means that they are starved
for revenue and will do anything for a quick buck. Don't trust them,
don't trust people that are associated with them.” Although co-founder
of Blockchain Nicolas Cary immediately replied that this is no scam
and “We're really going to give away the money,” Rochard was quick
to point out: “You're not giving away the money, you're giving away
XLM.”
Recently, Blockchain launched the foundation for the Blockchain
Airdrops, together with the criteria that will guide the company in
selecting which tokens we will airdrop to our users.
A big problem that the community has with this airdrop is the fact that
you have to create a Blockchain wallet and go through their KYC (know
your customer) procedure to be eligible for the airdrop. Bitcoin
developer Udi Wertheimer writes, “If you’re a [blockchain.info]
wallet user, this is a pretty bad deal for you. You should be asking for
*way* more than USD 25 to let them attach your identity to years of
bitcoin transaction history.”
User @AnselLindner joins in, saying, “Reminds me of the United
Bitcoin scam. Give me your data, let us track you, and you get free
stuff.” Popular economist and Bitcoin investor Tuur Demeester adds:
Tuur Demeester
@TuurDemeester
Context: twitter.com/TheStalwart/st…
Joe Weisenthal @TheStalwart
When I see stuff like this, or stuff like Coinbase adding more
pointless coins, I get the impression that the crypto industry's plan
to address lack of usage is to just make it up on volume. twitter.com/
OneMorePeter/s…
2:29 AM - Nov 7, 2018
6 See Tuur Demeester's other Tweets
Tuur Demeester @TuurDemeester · Nov 7, 2018
This sounds nonsensical to me, equivalent of "More internets in
more people's hands is a prerequisite for more people using more
internets". Imo only utility will drive adoption of monetary
protocols, not #airdrops .
The only people that seem to be really happy about this airdrop are
Stellar holders, calling it a great way to distribute ownership.
XLM price chart:
And, of course, this community wouldn’t be what it is without memes
about the situation surfacing almost instantly.
airdrop of USD 125 million in Stellar Lumens (XLM), nearly half a
billion tokens, in an attempt to boost crypto adoption. However, the
news didn’t elicit as much of a positive response as the company
might have hoped: the community is not persuaded that this is the best
way to foster adoption, arguing that it doesn’t make sense.
Even immediately following the announcement on Twitter, replies like
“This must be a scam” began to flood in. Pierre Rochard, founder of
Bitcoin Advisory , a firm that specializes in Bitcoin's economics and
software engineering, wrote, “Be very careful about using services
that enable ‘give away’ scams, it likely means that they are starved
for revenue and will do anything for a quick buck. Don't trust them,
don't trust people that are associated with them.” Although co-founder
of Blockchain Nicolas Cary immediately replied that this is no scam
and “We're really going to give away the money,” Rochard was quick
to point out: “You're not giving away the money, you're giving away
XLM.”
Recently, Blockchain launched the foundation for the Blockchain
Airdrops, together with the criteria that will guide the company in
selecting which tokens we will airdrop to our users.
A big problem that the community has with this airdrop is the fact that
you have to create a Blockchain wallet and go through their KYC (know
your customer) procedure to be eligible for the airdrop. Bitcoin
developer Udi Wertheimer writes, “If you’re a [blockchain.info]
wallet user, this is a pretty bad deal for you. You should be asking for
*way* more than USD 25 to let them attach your identity to years of
bitcoin transaction history.”
User @AnselLindner joins in, saying, “Reminds me of the United
Bitcoin scam. Give me your data, let us track you, and you get free
stuff.” Popular economist and Bitcoin investor Tuur Demeester adds:
Tuur Demeester
@TuurDemeester
Context: twitter.com/TheStalwart/st…
Joe Weisenthal @TheStalwart
When I see stuff like this, or stuff like Coinbase adding more
pointless coins, I get the impression that the crypto industry's plan
to address lack of usage is to just make it up on volume. twitter.com/
OneMorePeter/s…
2:29 AM - Nov 7, 2018
6 See Tuur Demeester's other Tweets
Tuur Demeester @TuurDemeester · Nov 7, 2018
This sounds nonsensical to me, equivalent of "More internets in
more people's hands is a prerequisite for more people using more
internets". Imo only utility will drive adoption of monetary
protocols, not #airdrops .
The only people that seem to be really happy about this airdrop are
Stellar holders, calling it a great way to distribute ownership.
XLM price chart:
And, of course, this community wouldn’t be what it is without memes
about the situation surfacing almost instantly.
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