50+ Billion XLM burnt.

[Benchmark]

And XLMUSD is already dropping back to its former level. 

Nice move, Jeb. 

[Skippy]

8 hours ago, mandelbaum said:

Coinmarketcap currently states 105 443 902 087, so minus 55 Billion brings the existing XLM down to 50 443 902 087.

Weird, incidentally this comes a couple of weeks after the XRP supply not escrowed reached 50 Billion.

Sorry for Jed for being so cynical but this is exactly what I thought at first.

Stellar is just trying to be Ripple as much as possible and ride on the ripples that Ripple has started. 

[AlejoMoreno]

1 hour ago, Dario_o said:

The black hole account where the 55B XLM are sent begins with GALAXY VOID

https://stellar.expert/explorer/public/account/GALAXYVOIDAOPZTDLHILAJQKCVVFMD4IKLXLSZV5YHO7VY74IWZILUTO

How did they manage to get an account address like this?

So what stops them from, at a later data, revising the code/protocol, to free the XLM in this address?

[jargoman]

1 hour ago, Dario_o said:

The black hole account where the 55B XLM are sent begins with GALAXY VOID

https://stellar.expert/explorer/public/account/GALAXYVOIDAOPZTDLHILAJQKCVVFMD4IKLXLSZV5YHO7VY74IWZILUTO

How did they manage to get an account address like this?

two possible scenerios. 

1. He wrote the words, alaxyvoid followed by a random number. And packaged that as a valid stellar address even though no key is known.

2. He's been using his xrp earnings to bruteforce a vanity address since 2013. 

 

[jargoman]

[Sukrim]

Really weird way of doing this, couldn't they just spend them on fees to actually "burn" them?

[yxxyun]

18 hours ago, Sukrim said:

Really weird way of doing this, couldn't they just spend them on fees to actually "burn" them?

the fee likely isn't burned too.

https://www.stellar.org/developers/guides/concepts/fees.html#fee-pool

"

Fee Pool

The fee pool is the lot of lumens collected from transaction fees.

SDF does not retain these lumens. They are distributed in the weekly process of inflation voting.

If there are any unallocated lumens after the vote, those lumens return to the fee pool for dispersal in the next round

"

Edited November 6, 2019 by yxxyun

[yxxyun]

44 minutes ago, yxxyun said:

the fee likely isn't burned too.

https://www.stellar.org/developers/guides/concepts/fees.html#fee-pool

after they disable inflation , I think the fees are locked in fee pool too.

 

[Dario_o]

On 11/5/2019 at 9:49 AM, AlejoMoreno said:

So what stops them from, at a later data, revising the code/protocol, to free the XLM in this address?

Exactly. We can't be sure no one has private keys for this "Galaxy Void" address. Probably the lack of price reaction is due to the wispread ittle confidence in Jed

[Sukrim]

15 minutes ago, Dario_o said:

Exactly. We can't be sure no one has private keys for this "Galaxy Void" address. Probably the lack of price reaction is due to the wispread ittle confidence in Jed

Also: Why only "GALAXYVOID[random stuff]" instead of "GALAXYVOID12345678901234567890...[checksum]"?