Earlier quoted context omitted.
Thanks - same username as on HN.
Shazam! You have stellars.
Stellar
411–420 of 486 posts
Re: Stellar
#412Stellar has a central authority that can mint new stellars. That is not decentralized. Bold-faced lie.
Re: Stellar
#413Re: Stellar
#414Earlier quoted context omitted.
Stellar is a fork of Ripple. It is not a decentralized system, in the sense that, if you want to use any given currency (such as stellars), you must trust a number of centralized, trusted nodes. This is Ripple's/Stellar's "solution" to the double-spend problem.
Here's a related (though not completely equivalent) thread on Reddit that I think does a good job of framing this topic: http://www.reddit.com/r/Bitcoin/comments/2c910w/stripe_gets_... .
Emphasis on "semi-trusted", i.e. "not worth shit from a decentralization standpoint".
Re: Stellar
#415Pretty strange how Stellar is paying people to sign up with Facebook. Facebook is very centralized. These modern currencies are very decentralized. I don't mind myself, but it seems like paying someone to sign up with the enemy...
I hear you. It's a temporary measure: https://www.stellar.org/faq/#_Why_do_I_need_to_authenticate_... . Basically, it was an easy (but imperfect) way to start. We'd certainly love suggestions for other channels to distribute stellars.
Re: Stellar
#416Re: Stellar
#417Oops! Our spam detection checks say your Facebook account isn't eligible. If you are a legitimate user, we apologize and are improving our detection algorithms. And we will release new ways to grab stellars soon, so please check back.
Is there any way to prove that my account is legitimate? Maybe my Github account, where I manage a somewhat popular open-source project, Min (http://minfwk.com) My username both on Github, HN and Stellar is owenversteeg. This seems like an interesting idea, and I'd like to play around with it.
Re: Stellar
#418http://newfuturefoundation.org
They are currently paying a lot of fees to the bank fund nonprofit projects in Africa.
This would really be perfect for them.
Re: Stellar
#419Earlier quoted context omitted.
> The beauty of this model is anyone can become a gateway at any time. If this takes off, then you could use this to build the killer "spot me $5" app. A few weeks ago when some friends were describing the spreadsheet they used to track who owes what to who, I proposed a micro-virtual currency limited to just the circle of friends that all trust each other, whereby exchanging the virtual currency you can transfer deb…
Thinking about this a bit more, there is one flaw with using it to track debts among a circle of friends, which is that any of those friends could then turn around and trade the USD-stellar I issued them to someone else, who doesn't realize that they shouldn't actually trust me for it. Using a fake currency as a proxy for USD would work here, but of course fake currencies have their own problem which is everyone has…
Unless this is totally different than Ripple, this can't happen unless there's a trust pathway between the recipient and you.