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just came out as a crypto-currency marketing scheme. Moreover, they're trying to spin the fact that they actively hid that their funding was coming from a crypto "non-profit" as a positive, _somehow._

I know they're popular on the fediverse as an identity verification service. If you're using it for that purpose, I urge you to reconsider in light of this.

Also the specific crypto they're pushing is shady as HELL. The fact that they're launching by giving away a huge amount of the currency means that they have written it so as to give themselves the power to allocate it arbitrarily, and/or simply done a huge amount of pre-mining before they opened it to the public.

That's the*one thing* that even the most diehard crypto moonies, in their frenzy to individual rediscover why each and every financial regulation they bypass exists, regard as fraud.

@Nentuaby

"pre-mining", LOL. #Stellar #XLM is not a PoW-coin.

If you received some XML and you don't want them, you can transfer it to this address:

GC5TY7VLIUCMUNIIBZK2KNQKR4NKN7TAMEWLYLNF6QOAI6RXFQBBQBC3

Thanks!

@TheFuzzStone How the fuck should I know that? They don't say anywhere on the web how the stupid thing actually works or why I should trust it.

@Nentuaby

>>> How the fuck should I know that?

Googleit.

>>>They don't say anywhere on the web how the stupid thing actually works

lmgtfy.com/?q=how+stellar+work

>>>why I should trust it
You should not.

@TheFuzzStone I did google it, asshole. I found a lot of pages that tell me a lot of words and none of them are *actually* the technical underpinnings of lumen.

@Nentuaby

Oh, fucking hell. I wanted to explain to you, you moron, but you're too stupid to google the information you're interested in, but you said about premine.

I wouldn't be surprised if you also a communist, socialist or some other lefty idiot.

Bye.

*blocked

@Nentuaby I noped the fuck out when I realized it was run by the OKCupid folks. PGP is on it's way out anyway.

@Nentuaby I hadn't heard the hide-the-funding part?

@edheil From their email blast announcing the giveaway:

"For a while, Keybase has been quietly funded by the non-profit Stellar Development Foundation (stellar.org). Stellar builds the Stellar network, which powers a digital currency that Keybase understands.

We managed to keep this a secret (somehow!)[.]"

They were clearly presenting it as "yay we kept your present a surprise till Christmas morning,” but it's far from normal practice and NOT a good thing.

@Nentuaby ah, I googled up a copy of the email -- "We managed to keep this a secret (somehow!), but today SDF is giving 100 million Lumens" -- I think the secret was the airdrop.

Anyways, that blog post does make the point that they've been all about the cryptocurrency for a while and are very much involved with it. :\

Guess this shouldn't have been a surprise

@edheil ... So the email blast literally lied about financial misconduct in the direction of making themselves sound MORE shady? What the f***?

I mean I guess *technically* this is better? But now I'm just extra puzzled. And still disinclined to treat them as a trusted party for anything.

@Nentuaby I recently read somebody referring to Brave as "The web browser division of Bitcoin Idiots, LLC"... I guess Keybase is the identity management division of Bitcoin Idiots, LLC. :)

@Nentuaby @switchingsocial afaik they haven’t really hid there crypto’s-currency „idea“. I think the first time I heard about it was about 2 years ago…

@zerok @switchingsocial@mastodon.at It's quite probably they mentioned integrating cryptocurrency in the past, but by secrecy I'm referring to their financial relationship with the Stellar people, which they've just said they kept secret in so many words.

@Nentuaby @switchingsocial that may be 🙂 It’s been a long time but I remember the name somehow. Just cannot pinpoint it right now 😞

@Nentuaby Look, I don't know what to think about this, but you seem clearly confused.

Here's where they tell about Stellar (over a year ago): keybase.io/blog/keybase-stella

I read about Stellar and I don't understand the protocol but it doesn't seem to mining-based.

@jaranta Yes, I hadn't looked up the exact way it works. Later I did and found that no, it's not PoW, but they're extremely vague about how it *does* work.

I have seen the page you just linked. It does not contain adequate technical details to speak in an informed manner, nor does any of the several other alleged explainers I have been condescendingly linked to this morning.

Also, you're ignoring that the statement you're quibbling over is the junior part of an 'or' clause.

@Nentuaby yeah, the email from them was a bit un-nerving. what alternatives are out there from digital ID checking?

@band Well, unfortunately there's not an alternative I know that offers both the same level of formal validity and convenience.

For formal validity minus convenience, there's always PGP (the open source software that underlies Keybase) without the middleman.

For convenience, having your various social accounts link to each other and say "this is also me" is essentially the same thing Keybase account claiming offers, just without Keybase in the middle going "yeah, this checks out, trust us."

I agree that linking social accounts manually achieves 90% of identity stuff that Keybase is doing.

Some other day I did design a “social proof” system akin of Keybase but using OpenPGP keys only (no central servers).

This is how it looks (just a web frontend using my protocol): https://metacode.biz/openpgp/key#0x653909A2F0E37C106F5FAF546C8857E0D8E8F074

And here are technical details and source code: https://github.com/wiktor-k/openpgp-proofs#openpgp-proofs

It doesn’t have the same level of polish as Keybase though…

@Nentuaby absolutely nothing wrong with cryptocurrency or their being funded by the SDF.

@Nentuaby I finally found all the relevant posts 🙃

keybase.io/blog/keybase-stella
keybase.io/blog/keybase-stella

So they haven't been hiding being funded by Stellar since March 2018 🙂

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