[geofft]

That's a fair defense of Keybase and Stellar. But it's not a defense of the airdrop, which seems to have had the effect of introducing a new population to Keybase, one that is more interested in cryptocurrency speculation than any of the things Keybase did previously. That, I think, was a big mistake. It increased engagement metrics while annoying all the existing users; effectively it pivoted Keybase into a chat app for altcoin enthusiasts. Which would be fine, if that was actually their goal, but it doesn't seem like that's what they wanted.

[OJFord]

Agreed - the first distribution required registration prior to the announcement. I don't see why that didn't apply completely, why use it to drive Keybase sign-ups? They were essentially all 'fake users'.

[geofft]

Even the first distribution temporarily put a market value on old GitHub accounts, since their anti-grab measure was that you needed a pre-existing Keybase account or a new one linked to a pre-existing GitHub account. There were several people on /r/github confused why they were getting monetary offers to buy their accounts. That already didn't sound like the intended outcome.