Author Topic: Stellar (decentralized gateway)  (Read 7343 times)

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Offline santaclause102

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That's above my pay grade!
 BM will figure it out.
The end result must be bitUSD available at ME.
:) Ok.  I always doubt things before someone can show me EXACTLY how it should work.

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The end result must be bitUSD available at ME.
BitUSD at ME would be easy. What would that be good for? Why not just have an IUO dollar at ME? BitUSD will certainly not be worth more than a dollar. Hmm maybe one advantage would be that it is more mobile then sending real dollars..
« Last Edit: August 01, 2014, 06:28:59 pm by delulo »

Offline tonyk

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I just wondered how you want want to....
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combining ME and bitUSD
?


That's above my pay grade!
 BM will figure it out.

The end result must be bitUSD available at ME2.
« Last Edit: August 01, 2014, 06:26:33 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline santaclause102

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bitUSD/bitEUR/bitCNY are not IOUs
That is self evident. And ME could create IOUs like ripple/stellar. Nothing new there.

I just wondered how you want want to....
Quote
combining ME and bitUSD
?
« Last Edit: August 01, 2014, 06:22:06 pm by delulo »

Offline tonyk

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Good ideas, easily doable in a DAC combining ME and bitUSD.

We don’t have gateways, but we will need them for USD to bitUSD exchange anyway. Hopefully by that time, the exchanges will have started doing the gateway job for bitUSD already.
Can you expand on how that would work exactly?
A gateway introduces a IOU dollar he is backing via BTS ME and then?

1st. On the bit USD part -  bitUSD/bitEUR/bitCNY are not IOUs. In this thread Simeon  explains how he sees it. I have mostly the same thing in mind:
https://bitsharestalk.org/index.php?topic=6384.msg85082#msg85082

2nd ME is for the exchange as in Stellar's exchange.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline santaclause102

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Good ideas, easily doable in a DAC combining ME and bitUSD.

We don’t have gateways, but we will need them for USD to bitUSD exchange anyway. Hopefully by that time, the exchanges will have started doing the gateway job for bitUSD already.
Can you expand on how that would work exactly?
Edit (making the question more clear): A gateway introduces an IOU dollar via Bitshares ME (the gateway operator is back it) and then?
« Last Edit: August 01, 2014, 06:23:44 pm by delulo »

Offline tonyk

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Good ideas, easily doable in a DAC combining ME and bitUSD.

We don’t have gateways, but we will need them for USD to bitUSD exchange anyway. Hopefully by that time, the exchanges will have started doing the gateway job for bitUSD already.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

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?
« Last Edit: August 01, 2014, 05:26:52 pm by delulo »

Offline lucky331

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I think that stellar will kill ripple very shortly.. Distribution will be much better, non profit, donations, Jed can simply exchange all his remaining xrp for stellars by donating the xrps. Brilliant !!

I'm surprised Ripple hasn't died out, being a centralized system with 98% "pre-mine" for the founders

ripple labs is actually developing some good stuff like their implementation of smart contracts via codius:  http://codius.org

as for their distribution of xrp, yeah, it's not good if you want to gain adoption. they are going for banks and big financial institutions instead of consumers.

is for being centralized, again yes.  but ripple is supposed to be a distributed network, but due to ripple labs controlling most, if not, all of the validating nodes, it is centralized. 

i thought they would have already figured out how and who to add as 3rd party validators in their network by now. 

Offline kokojie

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I think that stellar will kill ripple very shortly.. Distribution will be much better, non profit, donations, Jed can simply exchange all his remaining xrp for stellars by donating the xrps. Brilliant !!

I'm surprised Ripple hasn't died out, being a centralized system with 98% "pre-mine" for the founders

Offline CLains

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This 1% is allocated weekly to the top fifty accounts voted to receive such a distribution by the community. The foundation’s hope for these inflationary funds is that “holders will use the inflation-generated stellars to enable novel business models or to fund causes they support".
« Last Edit: August 01, 2014, 04:04:10 pm by CLains »

Offline CLains

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100 billion stellar was created in the genesis block and more will be generated at a fixed rate of 1% per year

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.

I ripple completely open source yet?

yes it is.

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.

I ripple completely open source yet?

Offline lucky331

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or he could continue holding them for leverage against ripple labs.

Offline mf-tzo

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I think that stellar will kill ripple very shortly.. Distribution will be much better, non profit, donations, Jed can simply exchange all his remaining xrp for stellars by donating the xrps. Brilliant !!