231–240 of 486 posts
Was wondering what was going to come following the post on Bitcoin as an IP layer. This is great stuff - looking forward to seeing how it evolves.
I'm sorry but this is not "great stuff", it's just a fork of Ripple: https://news.ycombinator.com/item?id=8115272
I was able to successfully sign up and get 5,000 STR, so that worked for me at least. But then I started looking a little deeper into the blog post. > Development is led by Jed McCaleb and Dr. David Mazieres in collaboration with a small team of others. (The technology is based on the open-source Ripple project, originally created by Jed a few years ago.) So, is Stellar fundamentally the same thing as and/or a fork o…
Patrick Collison here. I think that Stellar's governance is going to be one of its strong suits. (And something that we thought was lacking in other efforts.) Stellar is a nonprofit organization and will have public financials and governance documents. It will also hold just 5% of the stellars -- 95% is being given away as quickly as possible. The board is composed of Jed, Keith Rabois, and me. A number of other advi…
Earlier quoted context omitted.
Patrick Collison here. I think that Stellar's governance is going to be one of its strong suits. (And something that we thought was lacking in other efforts.) Stellar is a nonprofit organization and will have public financials and governance documents. It will also hold just 5% of the stellars -- 95% is being given away as quickly as possible. The board is composed of Jed, Keith Rabois, and me. A number of other advi…
Thanks for responding, Patrick. I appreciate you engaging in discussion on this matter. I'm not sure that this actually answers my questions, though. You seem to have more or less restated what I said without specifically addressing anything. For instance, I said, "Jed is also on the Stellar board, too, one of only three members -- and so wields a considerable amount of influence." Then you said that "the board is co…
Sorry, mostly I was just alluding to the fact that most of the board is composed of external members.
> In any case, I'm more interested in hearing about how Stellar is or isn't like Ripple. Is it essentially the same technology with a different governance structure on top of it? If not, in what way(s) is it different?
There are technical differences (like the inflation), and they'll diverge more over time, but I think the technical differences are of secondary importance relative to the issues around coin distribution and governance. If a distributed financial network is going to succeed, I believe that it has to be run by an impartial organization.
Earlier quoted context omitted.
This sounds like a stable currency that is well worth my time and interest
Except it's premined and centralized. It's "stable" until its creator decides to dump, like they did with Ripple.
"In order to provide additional stability to the system, the nonprofit founders and Stripe have voluntarily agreed not sell any of the stellars initially received (either via employee grants in the case of the founders or via repayment of the loan) for at least five years; however, Stripe may auction any of their stellars, provided the recipients also agree not to sell their stellars for five years, and net profits are returned to the Foundation."[1]
[1] https://www.stellar.org/about/mandate/#Stellar_distribution