Regular readers will know that I have been very excited about Bitcoin for some time now. Part of my Bitcoin enthusiasm has been channeled into trying to find the ‘next Bitcoin.’ Up until Tuesday of this week, I considered the only real runner-up to Bitcoin to be Ripple XRP. As a result, we have been giving away Ripple to our new subscribers. We have also been providing substantial education and support on how to use the Ripple platform to buy Ripple XRP, Bitcoin, and other digital currencies.
Earlier this week, on one of the news feeds that I follow, I became aware of a new digital currency that appears to also have a real shot at becoming another Bitcoin. So, you can now put two currencies on the list of my most promising up-and-comers – the new kid on the block is Stellar.
What is Stellar?
Stellar is a new decentralized digital currency, being backed by some of the biggest players in the business. You will already find the currency trading under the symbol STR on a number of digital currency platforms. The big ‘backstory’ here is the name Jed McCaleb. McCaleb is the guy that founded the MT Gox Bitcoin trading platform and also Ripple XRP. Caleb sold MT Gox and it was about a year after he left that the exchange collapsed. After co-founding Ripple Labs, McCaleb left the company in 2013. Until just recently, Stellar was simply known as ‘The Secret Bitcoin Project.’ The currency start-up has been funded by Stripe (a PayPal like payment platform).
It is also interesting to note some of the other very impressive names on the board of Stellar, including former PayPal executive Keith Rabois, YCombinator partner Sam Altman, Automattic CEO Matt Mullenweg, and AngelList co-founder Naval Ravikan.
What makes it different than Ripple?
There are quite a few similarities here between Ripple XRP and Stellar, but there is one huge difference: 95% of the Stellar currency is being given away to get it out into people’s hands. This is a very big deal, and, if you have a Facebook account, you can get your free Stellars (as well as help anyone you know with a Facebook account to get their free Stellars, too).
Here is how it works –
1. Go to the Stellar website.
2. Scroll to the very bottom of the page and click on ‘Get Your Stellars.’
3. Select a username and password to open up your virtual wallet.
4. Log in with your Facebook account.
The amount that you receive may vary, but in my case I was given 500 Stellars. My understanding is that they have been strategically lowering the amount they are giving away as the demand increases. As of the date of this article, the 500 amount is still good. The news on this is breaking by the minute. As a CMC Plus subscriber, we will keep you up to date on developments.
James L. Paris