Don't forget to claim your free Stellar Lumens

allyouneedtoknow (59)in #cryptocurrency • 8 years ago

After last October Stellar is distributing again up to 16 billion Lumens to Bitcoin holders or 16% of the initial Lumens in their distribution program.

For each Bitcoin you can claim almost 1,000 Lumens.

Example:

16,400,000 Bitcoins in existence - you own 5 Bitcoins

You can claim

16,000,000,000 * (5/16,400,000) = 4,878.05 Lumens

© stellar.org

On June 26th stellar.org will take a snapshot of the blockchain at the first block mined - this will record the coin balances of all bitcoin accounts at that time.

On June 27th they will provide a link to a claim page, where you will need to complete this process:

Authenticate with Facebook
Enter your Stellar account ID
Verify Bitcoin account by signing a special message with your private key using your existing bitcoin wallet

If your Bitcoins are located on one of these exchanges

Kraken
BTC38
Poloniex
Deribit
Yuanbao
NaoBTC

there is no action for you to take.

The exchanges will handle the process automatically crediting your account with the appropriate amount of Lumens.

For more information you can read the Stellar blog here.

#crypto-news #crypto #bitcoin #stellar

8 years ago in #cryptocurrency by allyouneedtoknow (59)

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wekkel (51) 8 years ago (edited)

Good to know. However, I wonder why they need my Facebook profile....

Conspiracy thought: to prepare a big database of holders of Bitcoin in order to place a windfall tax on them eventually.

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allyouneedtoknow (59) 8 years ago

Haha....nice thought, but I think there is no conspiracy here... :D

Statement from stellar.org

Why Facebook?

If you’re not using an exchange, then law requires us to ensure you’re not on the U.S. sanctions list or located in any of the restricted jurisdictions listed above. We’re using Facebook account verification to complete this check.

We know this kind of sucks. Privacy is a top concern for the Bitcoin ecosystem. Stellar.org won’t use your Facebook data for any other purposes and will never post to your account. If you’d rather not share your Facebook information, you can still go through a participating exchange.

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wekkel (51) 8 years ago

That is reassuring. I will have a closer look at Stellar now. This guy at the Ripple forum seems to have good hopes for Stellar as well. He seems to know his stuff.

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allyouneedtoknow (59) 8 years ago

Yeah...impressive comment from that guy.
Seems as if he knew what he is talking about.

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strapped (45) 8 years ago

Thanks for this. Do you know if there are any options for those who have managed to avoid Facebook?

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allyouneedtoknow (59) 8 years ago

Unfortunately there is no other option. I don't have facebook either.
So the only possibility is to deposit some BTCs on an exchange (preferably Kraken) before the snapshot.