[Dead] Keybase Account: Get Free XLM (Less than $20/Month for 3+ Months?)

Update 12/11/19: December will be the last month; December spacedrop was for ~355 XLM.

Update 11/16/2019: Looks like the distribution may take a few days, but it appears that the November Spacedrop is going out (~688 XLM, ~$49.81).  Next drop scheduled for December 15, 2019, tough to estimate the value … maybe half?

Update 10/16/2019: Keybase now says you can get in on the XLM giveaway (space drop) by downloading the Keybase App and receiving an SMS.

Will this happen? – I’m not sure, as they’ve already fooled us once (twice?), and the new requirements seem more exploitable then the previous halted promotion.   But potentially free money (crypto) with no KYC. The official statement is:

The Stellar Space Drop program is back on. You are still registered; **there is nothing for you to do.** The first distribution will happen November 15, and you should expect more Lumens every month.

**Why November 15?**

In case you missed it, we were forced to shut down registrations due to a swarm of bad actors. GitHub and HackerNews were both under attack and reached out to us. No one could then join. YOU squeaked in, though. So you’re in.

So: **we have spent the last month making it easier to participate**. Now your friends and family qualify. Even if they’re not programmers.

If you’d like to invite anyone:

• click “New chat” from your inbox
• invite them by phone number
• chat with them (encrypted!) while you both await November

And apologies for the delay. But 100 million Lumens will be going out shortly. You will get your share.

Update 09/16/2019: Keybase has halted eligibility of Hacker News and GitHub accounts for the promotion.  Assuming those who became eligible with Hacker News and GitHub accounts before 09/16/2019 will still be eligible for the promotion.

The Offer

Keybase Post | Stellar Post

Keybase (in partnership with Stellar) is giving away XLM monthly to authenticated (not KYC) Keybase accounts.

If you don’t have an existing Keybase account but do have an existing (registered before September 9, 2019) GitHub or Hacker News account you are still eligible for the promotion.  You can signup by installing the Keybase app (available on Apple and Android devices [and desktop operating systems]) and then within app prove your GitHub or Hacker News identity.

Keybase is described as a messaging platform where you can write securely to any twitter, reddit, facebook, github, and hacker news user.

The Fine Print

  • Each unique natural person can participate in the airdrop just once.
  • No individual recipient will get more than $500 USD worth of Lumens.
  • This is from SDF, and neither we nor they accept financial responsibility for failed attempts to collect. If you lose access to your account or “reset” it, fail to register correctly, or even if we have a bug…adios wealth.
  • Similarly, if there’s any bug in Keybase’s Stellar wallet – which is new – and you lose your Lumens, we accept no responsibility.
  • We don’t control your private Stellar keys, so we really can’t help you.
  • SDF reserves the right to stop sending Lumens early, with one month notice.
  • If something outside Keybase’s or SDF’s control prevents SDF from executing this giveaway, either in total or for specific users, we are sorry in advance. But we accept no responsibility for that.
  • Basically, don’t get mad at us if something goes wrong here. It’s a gift.
  • We reserve the right to blacklist users, even after registering. If you appear to use a bot or multiple accounts to sign up for Keybase, we’ll blacklist you. Similarly, if you appear to use bot accounts on HN or Github, we’ll blacklist you.
  • If we have any technical issues, downtime, or anything like that, we will most likely extend giveaway dates. Attacking Keybase’s meager servers won’t get you more cryptocurrency, it’ll only delay you and let more people in.
  • The first month’s giveaway was special, because many of the recipients didn’t have Stellar wallets yet. If anyone from the first month _never_ activates their wallet (to accept their Lumens), the Lumens can be returned to SDF. We’ll likely do that after 6 months or so.

My Signup Experience

  • I installed the Keybase app on my phone
  • Opened the app and selected a user name, (skipped the phone number) [Update 2019-10-16 probably need to enter phone number to receive SMS], and then added an email
  • I proved my GitHub user by following the directions (which involved committing a piece of code at GitHub)
  • Clicked the Join the Airdrop banner in app [Update 2019-10-16: Not sure if this step is still required]
    • Which opened a new Keybase XLM wallet
    • Clicked see if you qualify (where I failed the “3 active devices or paper keys” check)
      • Through the hamburger icon -> Devices -> Add a device or paper key I was able to generate 2 paper keys
    • Clicked see if you qualify again
      • All check marks passed, I clicked “Become a lucky airdropee” (and now my Airdrop status says “You’re in”)

Our Verdict

If you don’t already have a Keybase account, the requirement to have a pre-existing GitHub or Hacker News account is sort of a bummer.  I’m just assuming a good chunk of the DoC audience also works (or hobbies) in technology.

It’s hard to get a good estimate on the actual value of the promotion.  The aggregate numbers sound big (2B XLM, 100M XLM/Month) but what you’ll actually get depends upon a number of factors:

  • The Number of Users
    • It sounds like XLM will be evenly split among Keybase users,
    • which currently stands at 300K users per the Stellar announcement (though only a portion of those users are currently registered for the promotion)
      • 100M XLM/ 300K Users = 333.333 XLM/User (approximately $19.68 @ the current price of $0.059033)
    • But will current users 2x ($10/month), 4x ($5/month), …
  • The Number of Months
    • May range from as few as 3 (guaranteed per the Stellar announcement footnote)
    • To as many as 20 (2B = 20 months @ 100M per month)
  • The Price of Stellar (XLM)
    • Which will fluctuate against the USD
  • Hard Value Cap
    • The Keybase offer fine print limits per user value to at most $500 (which would be $25/month if spread evenly over 20 months)

All that said, if you have a Coinbase Account (or other crypto exchange account) whatever you end up getting should be fairly easy to transfer out and liquidate for USD, or of course you can HODL.

I missed out on most of the previous Stellar airdrops (Bitcoin promo, Blockchain Wallet promo, …), but did get in on the Coinbase Deal.  I find it hard to pass on crypto promotions.

All the best!

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67 Comments
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Nick
Nick (@guest_855934)
December 11, 2019 00:56
Chunk
Chunk (@guest_855936)
December 11, 2019 01:03

this company is just pathetic.

they got this massive gift from the Stellar foundation, and Keybase has just failed repeatedly. First breaking their promises.. changing it endlessly.. and now ending it early… yeah they “have the right” but fuck’s sake man, I also have a right to say this company is beyond incompetent. imagine if other companies in the real world made this many changes to a promotion and then just pulls it early multiple times.

Yz
Yz (@guest_856214)
December 11, 2019 21:52

Chunk Spoken like a true scammer. It’s because of you and your 11 accounts that they’re canceling early. Stop being a douchebag.

Chunk
Chunk (@guest_856223)
December 11, 2019 22:21
  Yz

 William Charles i don’t think this kind of personal attack and personal insult / name calling belongs here.. I only made a comment on the company’s business practices.. no need to attack me personally and call “douchebag” etc.. get a grip. I only have 1 keybase account.

Kevin
Kevin (@guest_856224)
December 11, 2019 22:26

Just ignore this stupid “Yz”…..He attacks you probably because he has 11 accounts!!!!!

dizzy
dizzy (@guest_856934)
December 13, 2019 11:06

I’m gonna go out on a limb in the opposite direction- and thank DoC for sharing it. This is like $75 or whatever in my pocket I wouldn’t have had, no matter how disorganized these doods are. Grateful, thanks DoC!

Jared
Jared (@guest_857166)
December 13, 2019 17:54

@dizzy couldn’t agree more. Free crypto is free crypto

DA
DA (@guest_847518)
November 22, 2019 11:27

[comment deleted]

Dimitrios
Dimitrios (@guest_844863)
November 18, 2019 12:00
Tommy Chen
Tommy Chen (@guest_847281)
November 21, 2019 19:10

Got my drop yesterday 🙌

Kevin
Kevin (@guest_843822)
November 16, 2019 11:22
JT
JT (@guest_843819)
November 16, 2019 11:04

I got the airdrop

Abstract15
Abstract15 (@guest_843807)
November 16, 2019 10:38

Got mine today at 12:41AM.

688.4 XLM valued at $49.8

Billy Bob
Billy Bob (@guest_842914)
November 15, 2019 01:53

Today is the day, guys. It will be interesting to see whether these chumps finally pay up or not.

Evan
Evan (@guest_843380)
November 15, 2019 16:24

well.. still nothing

Neil Degrasse
Neil Degrasse (@guest_843621)
November 15, 2019 21:37

they are a bunch of scammers. there should be some way to hold tech companies like this accountable.. isn’t false advertising and bait and switch still a thing or that’s all legal now?

TatyG
TatyG (@guest_843625)
November 15, 2019 21:39

I got mine at 6:27 pm

Steve
Steve (@guest_843812)
November 16, 2019 10:44

Still waiting on mine… nothing so far.

Jonathan Saltzman
Jonathan Saltzman (@guest_843856)
November 16, 2019 13:35

Same nothing here and I signed up before the first drop with github

Jared
Jared (@guest_844261)
November 17, 2019 12:23

Finally got mine just now Sunday at 12 pm eastern standard. Wondering if it’s a first come first serve basis on the airdrops. If so best to get in on it now

Dave S
Dave S (@guest_833281)
October 31, 2019 10:45

Anyone not qualify for airdrop after completing all the steps? I had created an account before the airdrop was halted but when I go back to add a phone number and complete all the required steps. I get a message that says I’m not qualified. I also checked reddit and some users are having the same issue.

Neil Degrasse
Neil Degrasse (@guest_833674)
October 31, 2019 21:37

yup, it doesn’t work.

SpicyPadThai
SpicyPadThai (@guest_826785)
October 17, 2019 19:18

Yep, not going to get fooled again.