XLM price drop if 16B are distributed to “Bitcoiners”?
Although we would have to define a length = the_period_of_time to asses this: my understanding is that Lumen price should not drop when that scenario comes to light. People won’t get #Lumens for “free”. If you own #Bitcoins you’ll be able to request a proportional Lumen amount: based on the percentage given by the number of Bitcoins you own over the amount of Bitcoins in existence at that point in time.
If you own a Bitcoin today, you would get: (1/nbr_of_bitcoins_existing)% x 16B lumens = your_number_of allowed_distributed_Lumens as a Bitcoin holder.
Distribution to Bitcoin holders shall not affect Lumen supply?
What I also understand, is that these are not new Lumens [to be] launched. No one is “printing” additional new lumens(XML). By definition there is 20% to be distributed to Bitcoin(PPL) holders [over time]. In 2016, 3B XLM would have been distributed and, at this point in time there were/are 4,95 Billion Lumens distributed.
Bitcoin holders are natural early adopters for crypto-currency.
Thus, they’re ager or should be ready for other/more block-chain related use cases. As a holder of Bitcoin, Ether, Litecoin and Euros: i am curious to explore these territories. In my view, the distribution of 16B XLM [starting or] in june 27th should help drive Lumen’s demand. Given supply will be there and as more people (on top of the Bitcoin ambassadors) would transact… i’d say lumen price should rise up!
Stellar’s Value Proposition & A Giveaway Tactical Plan
Stellar’s promise is a to provide a platform that focuses on creating a common language and protocol between different financial institutions and currencies to easily and freely transact with each other.
If Stellar is able to make Bitcoin tradable and interoperable with Euros, Dollars, Pesos,…, other Financial Institutions, in an easy and “freely” experience and manner: perhaps it’s a good idea to start checking out where to buy lumens! 🙂
I use Coinbase, for now, to buy/sell Bitcoin, Ether, Litecoin, Euros. It is not a trading exchange. Although i have Kraken on the spot for some months, I am only looking at it now, along with GDAX, Coinbase’s Exchange.
Voilà. I hope it helped. But again, this is only how i understood it.
What do you think?