Author Topic: Stellar (decentralized gateway)  (Read 7342 times)

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Offline Pheonike

I guess the question is how can go from USD straight Bitusd. It would be nice to have an app like mycelium that has a local bitcoins style part for people to buy/sell with. Then anyone can be an exchange.

Offline lucky331

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it's a ripple fork with better distribution.  if you want to learn more about stellar, i suggest reading the ripple primer here:  https://ripple.com/ripple_primer.pdf

stellar is basically a copy/pasted ripple with some tweaks.
What a second. How does the stelar project select who is on the unique node list? That unique node list is at the heart of Ripple.
If it is not Proof of stake but a unique node list style centralized system it doesn't matter at all what the distribution of tokens is in terms of network security. Matters a bit maybe for network effect but that is not a major factor in my opinion as Ripple does heavy marketing to compensate for that.
Where am I wrong?

yes.  until ripple and ripple-like systems figure out how to add independent 3rd party validators, it is centralized.
Do you know if they have any plans here?

no concrete plans mentioned from their side but this is what they posted on their site:

"Consensus

Under the hood, Stellar uses its own distributed ledger, which is maintained by a consensus algorithm rather than mining. Each node in the network communicates with a set of other nodes that it believes will not collude (such as nodes run by universities, governments, and companies). Importantly, it doesn’t need to trust the nodes themselves — it just needs to believe the nodes won’t work together to produce the same malicious result. Consensus is then reached by an iterative process, which results in each new ledger being decided upon every few seconds. Correspondingly, transactions confirm nearly instantly, and no mining is needed.

We’ll be releasing a paper soon documenting and exploring a provably-correct version of this algorithm."

https://www.stellar.org/blog/introducing-stellar/

so. i guess the have plans on wooing uni's and government, banking and other establishments to run stellard.   

Offline liondani

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I have a few xrps which as usual I bought quite expensive and kept them for a scenario that after 1 year still never happened. In order to break even xrp must be x5. So the question is...should I donate them I a charity in exchange for the same amount of stellar or should I still hodl them?
sell them and buy BTSX...  if you had do that before a couple of days you would have already a good profit...

Offline mf-tzo

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I have a few xrps which as usual I bought quite expensive and kept them for a scenario that after 1 year still never happened. In order to break even xrp must be x5. So the question is...should I donate them I a charity in exchange for the same amount of stellar or should I still hodl them?

Offline santaclause102

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it's a ripple fork with better distribution.  if you want to learn more about stellar, i suggest reading the ripple primer here:  https://ripple.com/ripple_primer.pdf

stellar is basically a copy/pasted ripple with some tweaks.
What a second. How does the stelar project select who is on the unique node list? That unique node list is at the heart of Ripple.
If it is not Proof of stake but a unique node list style centralized system it doesn't matter at all what the distribution of tokens is in terms of network security. Matters a bit maybe for network effect but that is not a major factor in my opinion as Ripple does heavy marketing to compensate for that.
Where am I wrong?

yes.  until ripple and ripple-like systems figure out how to add independent 3rd party validators, it is centralized.
Do you know if they have any plans here?

Offline lucky331

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it's a ripple fork with better distribution.  if you want to learn more about stellar, i suggest reading the ripple primer here:  https://ripple.com/ripple_primer.pdf

stellar is basically a copy/pasted ripple with some tweaks.
What a second. How does the stelar project select who is on the unique node list? That unique node list is at the heart of Ripple.
If it is not Proof of stake but a unique node list style centralized system it doesn't matter at all what the distribution of tokens is in terms of network security. Matters a bit maybe for network effect but that is not a major factor in my opinion as Ripple does heavy marketing to compensate for that.
Where am I wrong?

yes.  until ripple and ripple-like systems figure out how to add independent 3rd party validators, it is centralized.

Offline luckybit

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Has anyone else come across Stellar? stellar.org

It appears to be something of a decentralized escrow service??

What do you guys think about it?

It's interesting. I don't think the airdrop to Bitcoiners will be successful but I'd like to be proven wrong on that.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline G1ng3rBr34dM4n

My original thought when posting this was "how does the asset exchange through the BitShares platform NOT solve this problem".  I guess I'm still failing to see what the advantage of Stellar is.

Are there any distinct problems solved by Stellar that isn't solved by BitShares?

Offline santaclause102

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OK, places where different form of money are exchanged -EXCHANGE TERMINALS
+5%

Offline tonyk

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OK, places where different form of money are exchanged -EXCHANGE TERMINALS
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline santaclause102

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People are not paid in BTSX or bitUSD.
They need a way in the system. The easier and smoother the transition  the better.

Then the word "exchange" would fit better here.

Gateway in the sense of Ripple means to be an IOU issuer. Exchanges don't issue IOUs.

Offline tonyk

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People are not paid in BTSX or bitUSD.
They need a way in the system. The easier and smoother the transition  the better.
bitUSD same as your dollar + all the advantages of crypto.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline santaclause102

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Do you mean ME2 would be ME + gateways?

Quote
bitUSD will hopefully have the gateways that are badly needed.
What would gateways be good for with BTS X / BITUSD since BitUSD is not an IOU (as you said)?

Offline tonyk

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And so today ME2 DAC was born!

Hopefully BM and or toast have 2 minutes to share their opinion.
« Last Edit: August 01, 2014, 06:45:47 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline tonyk

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bitUSD will hopefully have the gateways that are badly needed.

It can be the ME2 shares itself, of course, but bitNameyourFiat has some advantages, imho.
« Last Edit: August 01, 2014, 06:37:46 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.