Former CEO Accused in Mt. Gox Lawsuit - Bitcoin Magazine

A Closer Look at Ripple's Distribution of XRP

I consider myself to be an informed member of the XRP community. I have a Twitter feed of all the prominent personalities/researchers to keep tabs on the news. I watch the metrics on utility-scan.com daily and even wrote a calculator to help understand what ODL is doing over time. I regularly check in on global metrics like volume, wallet openings, and the distribution of XRP within wallets.
Up until recently, if you asked me to explain how XRP is distributed out to the public, I would point you to two resources. The first is an article on XRPArcade explaining how Jed McCaleb's XRP sales are structured (not the topic of this post). The other place would be the XRP Markets Reports provided quarterly by Ripple. There you would understand that for the past year Ripple has increasingly slowed the sales of XRP and only is selling in small amounts to facilitate liquidity in markets. Based on this data, I've seen discussions on /cryptocurrency and elsewhere claiming that XRP's inflation rate is lower than Bitcoins and is near 0. Based on publicly provided data I've realized that this is not the case. XRP's distribution rate is very different than the impression painted by the XRP Markets Reports.
TLDR; Ripple is trying to paint a narrative that very little XRP is entering the market. In reality sales of XRP are very low, but XRP entering circulation remains much higher from an inflationary perspective and that rate has remained relatively unchanged from 2016 onward.
Before I dive into the data, I'd like to take a brief pause and state that in no way am I writing this to be FUD. Clear and accurate data is extremely important to me. Much of the recent community conversation has revolved around hopium and dot connecting that is unverified. It's a public ledger, but most people don't take the time to track the numbers. I'm hoping to shed more light on these important factors since there is no doubt that XRP's rate of distribution can effect the price. Ok, soapbox over.
I first was clued in that something was off while listening to a SamIAm video here. Basically Sam is calling out Ripple over their Q1 Markets Report because they didn't mention around $18 million of XRP paid to MoneyGram. Now technically this isn't a sale of XRP, but it's convenient to leave out and we would only know that this was happening because the SEC forced MoneyGram to report it on their Quarterly Investor Report.
Next I was scratching my head over a data discrepancy. Tether flipped XRP on LiveCoinWatch weeks before the other tracking sites like CoinGecko and CoinMarketCap. Upon closer inspection I realized that all these sites retrieve the XRP circulating supply from a single API call and LiveCoinWatch had coded their site incorrectly. They were pulling the XRP numbers from last year.
The API is here and anyone can checkout the data: https://data.ripple.com/v2/network/xrp_distribution. I believe that there is a companion private API Ripple uses to power their pie chart here: https://ripple.com/xrp/market-performance. Notice that the market performance (at the time of this posting) is for May 17th while the public API only goes to April. I don't know why Ripple hasn't updated the public API in a month. Since the public API has a history of postings you can go back and track the "distributed" tag all the way back to the middle of 2016. Here's what I found.
XRP Released into Circulation Yearly Inflationary Rate
2016 (starts mid year) 1,229,851,071 3.5%
2017 2,667,133,033 7.34%
2018 2,035,094,018 5.22%
2019 2,325,833,516 5.67%
2020 (May 1st) 773,689,933 1.78%
2020 End (at current rate) 2,321,069,799 5.35%
The 2016 data starts halfway through the year, so you can make an educated backfill guess for that year's number as well. Ripple has been distributing between 2 and 2.6 billion XRP a year with 2017 being a the high watermark. Interestingly the number distributed in 2019 is not that much different in spite of Ripple touting significantly reduced sales for almost the whole year.
So lets talk about the term "XRP Distributed" versus "XRP Sales" obviously Ripple is providing the data for both stats, but they only talk about sales in the markets reports. Distribution is a much wider term. It can include things like "Business Development" like MoneyGram discussed above. It could be compensation incentives given to Ripple employees. Xpring is known to fund investments using XRP. All of these items aren't reported because they are not sales. Even with some generous guesses to the above categories, I have no idea what Ripple is really doing with the XRP in 2020 if they're not selling it. Even factoring in about 90 million XRP given to MoneyGram, there's still a significant amount distributed and I would love some opinions on what they think Ripple is doing with this XRP.
Some takeaways for me:
submitted by RetirePerspired to Ripple [link] [comments]

Round up of Cryptocurrency News #5 Week 03/08 - 09/08

Welcome again to another recap and the first full week of the new month after breaking the downward trend on the monthly!
 
Firstly, from last weeks uptrend we have seen the market consolidate at this level throughout the week with a steady upward climb at the start of the week to a balance out above $11.5k for Bitcoin towards the end. For the market we have a total increase of $17.5B over the week but a 1% decrease of btc dominance moving mainly toward Chainlink and other altcoins.
 
Closing the week we have had some altcoin action, Ethereum breaking $400 midweek but now staying back in a nice channel between $350-$410 since the start of August. But, Chainlink killing it after breaking $10 and currently sitting comfortably above $13!! Other altcoins that have reaped rewards and I'm keeping an eye on are:
I have picked these as i have noticed they are usually the first movers or the biggest gainers after the market goes red. Chasing those quick gains!
 
What about the news for this week?
 
DISCORD LINK: https://discord.gg/zxXXyuJ 🍕 Bring some virtual pizza to share 🍕
Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments!
Big thanks to our Telegram and My Crypto HQ for the constant news updates! The Gravychain Collective: https://t.me/gravychain My Crypto HQ: https://t.me/My_Crypto_HQ
Links
Important/Notable/Highlights:
Special Mentions:
Other:
submitted by IOTAbesomewhere to Gravychain [link] [comments]

Stellar or Ripple: which coin should you invest in?

Stellar or Ripple: which coin should you invest in?
Stellar and Ripple: two cryptocurrencies that can seem very similar. Ripple has a larger market cap, but Stellar has a lot of advantages of its own. Why should you choose XLM over XRP? Here are a few reasons!
Even though Ripple is no.4 on the CoinMarketCap list of the largest crypto coins (with $1.3 billion) and Stellar is only no. 14 with $500 million, we still believe that XLM will win out in the end. That's also why we created a wallet for lumens, not for Ripple. And if you were to ask us which crypto to buy right now, we'd suggest Stellar.
There are many reasons why we believe that Stellar is a superior project and a better investment. But before we get to them, let's remember one thing: they were both created – rather, co-created – by the same person, Jed McCaleb. Ripple was launched in 2012, but a few years later McCaleb began to get disappointed with where the project was going, so he went his separate way to create Stellar.
Now we've got history out of the way, let's talk about the differences.
Who is it for? In a few words: XRP is for banks, XLM is for people. Actually, Ripple is a protocol that's completely separate from the coin XRP. Those 100+ financial institutions that the company works with don't even use XRP, but just the protocol, in order to facilitate cross-border transfers between different banks.
Lumens was designed as digital money for the unbanked – for those 1.5 billion people who don't have bank accounts. It's easy to create tokenized versions of fiat currencies on the Stellar blockchain, too. In the future, people in Africa, Asia, the Americas, etc. will be able to send money almost instantly, almost for free using Stellar. We feel it's a stronger use case that corresponds better to the purpose of cryptocurrency than what Ripple does.
Can you launch dApps with it? Stellar supports smart contracts, so you can create any sort of decentralized application with this blockchain, just like on Ethereum. But Ripple doesn't have a smart contract functionality, it's just a protocol for sending money. So Ripple will never become a massive decentralized ecosystem – but Stellar can.
What's the consensus model? Both XRP and XML use unique consensus protocols that are very different from Proof-of-Work and Proof-of-Stake. However, since Stellar's protocol came later, it built on the one used by Ripple and improved it. It was actually designed by a famous MIT professor. It's sort of a next-generation consensus model compared to XRP.
How decentralized is it? It's a well-known fact that Ripple is highly centralized. The company decides which financial institutions in its network can participate in the consensus. Simple users like you and us would never be able to play a role. By contrast, anyone can take part in the consensus on the Stellar blockchain.
Yet another aspect of this issue is the control over coins. Ripple as a company controls over 60% of all XRP, and it can sell them as it finds fit. When Jed McCaleb left the company, his holdings were actually frozen, and this caused an uproar in the crypto community. The Stellar Foundation used to control more than 80% of all coins, but then they burned a huge part of their reserves several months ago, so that now the company controls only about 30%.
This last point about centralization is the fundamental reason why many analysts worry about XRP's long-term prospects. It's been growing due to a boost from Bitcoin, but it doesn't have many internal growth drivers. If there's a new downturn in the crypto market, or if the Ripple management conducts yet another sell-off, the price can fall sharply.
On the other hand, Stellar has lots of reasons to grow, such as new partnerships and the sheer fact that it's so undervalued. In the past couple of months the price of XLM surged faster than Bitcoin, Ethereum and almost any other coin from the top 10.
Therefore, our forecast is that XLM will keep growing. As for Ripple, we're not so sure. We don't want to give any investment advice, but if you have any lumens in your XLMwallet, you should definitely leave them there. By the end of 2020, you may be able to get a good profit, while XRP might eventually lose a lot of what it's gained since March.
Do you agree with our analysis? Share your opinion in the comments!
https://xlmwallet.co/
Website — https://xlmwallet.co/
Medium — https://medium.com/@XLMwalletCo
Teletype — https://teletype.in/@XLMwalletCo
Twitter — https://twitter.com/XLMwalletCo
Reddit — https://www.reddit.com/XLM_wallet/
submitted by Stellar__wallet to XLM_wallet [link] [comments]

Ripple Announces Strategic Partnership with Stellar Development Foundation (What if Scenario)

The following press release moved over PR newswire in the cryptocurrency world on Thursday, April 9, 2020, at 9:32 a.m., PST.
San Francisco, Calif.–April 9, 2020–The board of directors of Ripple Labs, Inc., today announced that Jed McCaleb, the cofounder of Ripple, have come to a partnership deal with the Stellar Development Foundation.
In 2014, McCaleb created The Stellar Development Foundation (SDF) a non-profit organization founded to support the development and growth of the open-source Stellar network. Stellar seeks to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered. The SDF helps maintain Stellar’s codebase, supports the technical and business communities around Stellar, and is a speaking partner to regulators and institutions. McCaleb is one of the early key figures in the crypto industry, he founded the infamous centralized exchange, Mt. Gox, the dominant Bitcoin exchange in the world at that time. After parting with Mt. Gox in May of 2011, McCaleb began work on a crypto network that wouldn’t be dependent on the energy-intensive mining process of Bitcoin. This network became Ripple. However, disagreements between McCaleb and the rest of the Ripple team led to McCaleb departing in early 2014, to go and start Stellar.
“Creating this partnership and reaching an agreement with Ripple makes a lot of sense for all parties involved. Stellar wants to work with unbanked individuals around the world while Ripple is focusing on building close partnerships with banks to help them move money globally,” said McCaleb from the San Francisco, Calif., headquarters of Ripple. “At first I dismissed the idea when the Ripple board contacted me. However, because I’m now the Chief Architect at the SDF I now am able to see how this partnership could benefit us both especially with new CEO and Executive Director Denelle Dixon at the helm.”
Ripple board member Craig Phillips describes the partnership process, “Basically, we challenged the SDF: ‘about 1.7 billion adults do not have a bank account. When you consider that the world has about 7.8 billion people, that’s about 1 in 5 people who do not have access to things like savings accounts, loans, and credit. Stellar wants to reach these people globally but they are having issues with banking on-ramps, Ripple has key banking relationships all over the world.’ When we presented it this way, Jed and team reacted positively to our pitch.”
--- read more here: https://www.thrillerx.com/post/ripple-announces-strategic-partnership-with-stellar-development-foundation
submitted by ThrillerPodcast to CryptoCurrency [link] [comments]

Okay, this Ripple shit is ridiculous. We need to educate people before we have PayPal 2.0 at the top of all the *actual* cryptocurrencies.

I have to admit, I did not see this coming. But it makes kind of sense, splinter the Bitcoin community into BTC vs. BCH while you work on your banker coin and in the most opportune moment when the winner is not clear and both are weakened, swoosh into first place and declare yourself the best "cryptocurrency".
We seriously need to educate people of what this "coin" is as I notice even people in here (myself included) do not have the complete picture, let alone an average Joe and Jane looking at CMC.
So from what I can gather, these are the problems with Ripple:
Please link people capable of making an article/video about Ripple here, using the resources that we pool together.
Edit:
Ripple implemented this nifty feature called "Balance Freeze" which allows gateways (nodes essentially) to freeze your funds (enough said?) they already even used this "feature" to freeze ~$million dollars
Edit2:
So, so much for "settled in seconds" and immutability, they can also "simply ask the gateways to freeze or even reverse the funds".
Also:
Ripple introduced two different methods for the “freeze protocol extension.” The first method is known as the “global freeze” and allows gateways to freeze all of their issued funds. The second allows the gateways to freeze funds of a particular user, while the frozen funds are sent back to the gateway.
Edit3:
It also requires verified user identification in order to use the network
submitted by mushner to btc [link] [comments]

Questionable Decisions

Facts
linustechtips.com:
In 2017 Knapp sold CyberGhost to an Israeli company called Crossrider for €9.2 million.
Crossrider changed its name to “Kape Technologies” in 2018 – for reasons that we’ll explain below.
Now here’s where things get interesting. When you research the company Crossrider (now Kape) you learn it is a company known for infecting devices with malware.
When you research the company Crossrider, you find numerous articles about Crossrider malware and adware, such as this article from Malwarebytes:
Crossrider offers a highly configurable method for its clients to monetize their software. The common method to infect end-users is software bundlers. The installers usually resort to browser hijacking. Targeted browsers are Internet Explorer, Firefox, Chrome, and sometimes Opera. Crossrider not only targets Windows machines but Macs as well.
PUP.Optional.Crossrider installs are typically triggered by bundlers that offer software you might be interested in and combine them with adware or other monetizing methods.
According to Malwarebytes and many other reputable online security websites, Crossrider was hiding malware in software bundlers, which would then infect the user’s computer with “adware or other monetizing methods”.
Trust takes years to build, second to break and Forever to repair.
submitted by KSOFM to PrivateInternetAccess [link] [comments]

Hello MLGC people, let's go for updates in our classic newsletter!

Hello MLGC people, let's go for updates in our classic newsletter!
🙅‍♂️Halving Bitcoin Cash did not affect the price
The fifth cryptocurrency in terms of capitalization, Bitcoin Cash (BCH), for the first time passed a fundamental event for the blockchain - halving, but the process will not have a bullish effect on the price.

📉Ripple co-founder withdrew 63.7 million XRP; What will happen?
Ripple cryptocurrency co-founder Jed McCaleb has just transferred 63'704'590 XRP ($ 12'293'769) to his personal wallet. XRP holders are preparing for a price collapse.

🎤A new type of attack uses a voice assistant
Researchers are sounding the alarm about a new type of hack targeting smart digital assistants such as Amazon Alexa or Apple Siri.

🦁MLGC finishing application development.
MLGC application will became available in Q2 of 2020 in Appstore and Google Play. Stay in touch and buy tokens until the moon price.

#gofurther
MLGC.io

https://preview.redd.it/lbxmcgkc9nr41.jpg?width=1280&format=pjpg&auto=webp&s=20b96f06d49e2179186b87262700c7033ed26fe8
submitted by MarshalLionGroup to u/MarshalLionGroup [link] [comments]

Stellar Lumens HODL alert: 2017 Round up, Partnerships, Lumens vs. Other Cryptos

Welcome everyone! The future of Stellar Lumens is bright! Today we will look at the accomplishments of Stellar.org in 2017.
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2017 Round Up
IBM / Stellar Partnership
• Kik Messenger’s KIN coin to move from Ethereum to Stellar in 2018
• Stellar ATM introduced in Singapore
• Jed McCaleb confirms IBM/Stellar has 30 banks on board (Youtube Video)
Lightyear.io enables forward thinking financial entities to easily join the Stellar ecosystem.
• IBM adds 8 new validators from 8 different countries onto the Stellar network (article)
Forbes calls Stellar “venmo, but on a global scale - and for larger bodies like banks and corporations.”
• Stellar Lumens Is Up 6,300% Since March and Is Aiming for Big Blockchain Partners (article)
• Many new partnerships (listed below) that will be using the Stellar network in 2018.
Binance and GoPax Exchanges Adds Stellar
Ledger Nano S support is now available for Lumens (XLM)
• The next coin to break into the top 10 cryptos (article)
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2017 Partnerships & Financial Institutions
IBM - is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries. IBM partnered with Stellar to help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers.
SatoshiPay - a web payment system that helps online publishers monetize digital assets like news articles, videos, or PDFs in tiny increments without friction.
EXCH.ONE - is a FinTech software company based in Switzerland currently working to integrate its platform and its first technology adopter Euro Exchange Securities UK Ltd. into the Stellar network. This addition to the Stellar network will bring access to currency markets of South and Central America,UK and a number of EU countries.
Novati (ASX:NOV) - is an Australian-based software technology and payment services provider. Novatti is currently working to integrate it’s platform into the Stellar network with the ultimate aim to build a global money transfer solution to provide cross border, cross currency and cross asset payments.
Pundi X - is an Indonesia based fintech company that provides POS device, debit card, multi-currency wallet that empowers individuals to buy and sell cryptocurrency at any physical store in the world. They say "buying cryptocurrency should be as easy as buying a bottled water."
MoneyMatch - is a Malaysia based fintech startup that provides a fully-digital peer-to-peer currency exchange platform for customers to transfer and exchange foreign currencies with complete ease and at great value. The company plans to integrate with the Stellar network and enable pay in and pay out from Malaysia.
Streami - is a Korea based fintech company that offers blockchain enabled cross-border remittance service and recently launched a cryptocurrency exchange. The partnership extends both on the exchange side and remittance operations.
Neoframe - is developing and marketing trading solutions for big brokerage firms in Korea and extends its business to blockchain based applications. Neoframe developed high performance centralized cryptocurrency exchange as well as secure wallet solutions and is working with big financial players. The company is planning to launch a remittance business for ASEAN countries (Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar (Burma), Cambodia, Laos, Brunei) using Stellar.
SureRemit($RMT) - is a Nigeria based global non-cash remittances company. SureRemit leverages the Stellar blockchain platform to connect immigrants abroad directly with merchants that provide the services needed by their loved ones back home. With Remit tokens, immigrants all over the world can access digital shopping vouchers that can be spent on goods and services at accepting merchants wherever they are.
Cowrie Integrated Systems - is a Nigerian based Value Added Service Provider. Cowrie provides services at the intersection between telecoms and finance. Cowrie recently joined the Stellar network to bring novel fintech services to the African market.
Smartlands - is a Stellar-based platform designed to create a new class of low-risk tokens, secured by real, profitable assets in the real-world economy. Smartlands is designed to promote investments in the agricultural sector by allowing investment in individual projects, agricultural companies or indexes of groups of projects. These investments will be fully collateralized by agricultural real estate, other productive assets such as fruit or nut trees or, in some cases, the actual crop.
Klick-Ex - is an award winning regional cross-border payments system delivering financial infrastructure for emerging markets. It has been responsible for dramatic uptake in digital financial services in unbanked regions of the world, and lowering costs for banks, central banks and consumers in low liquidity currencies. Its key presence is in the Pacific and Europe, and it is a founding member of www.APFII.org processing more than 775,000 transactions per second, per billion of population (source).
Mobius - Mobius connects any app, device, and data stream to the blockchain ecosystem. Our simple and easy to use bidirectional API allows non-blockchain developers to easily connect resources to smart contracts and more. The Mobius MVP acts like Stripe for Blockchain by introducing innovative standards for cross-blockchain login, payment, smart contract management, and oracles. The Mobius Team includes David Gobaud, Jed McCaleb (Stellar.org founder), Jackson Palmer (creator of Dogecoin), and Chandler Guo (notorious Bitcoin & blockchain investor).
Chaineum - Chaineum, the first French ICO Boutique, will use the Stellar network for upcoming ICOs. “Chaineum is positioned as the first “ICO Boutique” in France, providing a range of end-to-end services to companies and international start-ups wishing to develop with this new funding mechanism. Chaineum is preparing 8 ICOs by the end of 2017, for European, North American and Asian companies, of which cumulative amount could reach € 200 million." (source)
Poseidon Foundation - Poseidon will simplify the carbon credit market with the creation of an ecosystem built on Stellar.org’s blockchain technology. This technology will prevent double counting of carbon and will be consistent across jurisdictions, making it easier for companies to deliver and measure progress towards their climate targets or other goals such as deforestation-free commitments.
Remitr - Remitr is a global platform for cross border payments, licensed in Canada. Remitr uses the Stellar network for international settlements for businesses as well as other payment partners. Remitr’s own payout network of 63 countries, comprising several currencies, is extended onto the Stellar network.
MSewa Software Solution (MSS) - MSewa Software Solution (MSS) Payments provides a one-stop digital payment service available across the Globe. MSS Payments aims at serving the consumers (Banked, Unbanked and Underbanked) with mobile banking facilities on the move from anywhere by transferring funds in their mobile phone.
PesaChoice - PesaChoice is a leader in international bill payment services for the African diaspora. PesaChoice aims at making international bill payment process easy, seamless, secure, with reasonable and competitive service fees, and up to date technological advances.
SendX - Singapore based SendX, in partnership with Stellar, is the better way to move money worldwide. The SendX team believes that the future of transactions is decentralized and distributed, bringing true equity to everyone across the value chain.
VoguePay - VoguePay, with offices in the United Kingdom and Nigeria, is partnering with Stellar to become the cheapest and most efficient way to send money between the United Kingdom and Nigeria. In the coming months, they expect to expand this service to other selected African countries.
HashCash - Hashcash consultants build financial solutions for banks and financial institutions over blockchain. We leverage the Stellar platform to build products that vastly improve the remittance and payments experience for banks and their customers. Transfers happen lightning fast at a fraction of current rates and operational cost is significantly reduced. HashCash is headquartered in India, with operations across South Asia and the Gulf.
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Stellar Lumens vs Other Cryptocurrencies
Lumens vs. Bitcoin: Jed McCaleb spoke at Distributed Markets in 2017 about the advantages, but more importantly, the disadvantages of Bitcoin. Listen to the talk here. Jed said, “Bitcoin is this awesome innovation. The first thing it does is converts a real world resource, electricity, into a digital asset. So it takes something from the real world and puts it into the digital realm. The second thing it does is provides immutable public record. It’s basically a database that everyone can see but no one change arbitrarily… That’s great, Bitcoin solves the double spin problem [ of proving possession and transmitting volume]… [However, to fix the problems of bitcoin] you might think well maybe we’ll just kind of keep adding [software] to Bitcoin until we get there, but that’s not really the way software works. You want to have the design from the beginning and solve these simple issues. Bitcoin was designed to be a new currency, it wasn’t really designed to be this unifying universal payment network. So that’s what Stellar does. It solves these three remaining issues.”
Lumens vs. Bitcoin #2: According to wired.com, "Bitcoin mining guzzles energy - and it's carbon footprint just keeps growing." Wired says "Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day... The total energy use of this web of hardware is huge—an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year." Because Stellar is based on a consensus algorithm rather than mining, it takes much less energy to run the Stellar network. The Poseidon Foundation decided to build their platform on Stellar rather than Ethereum or Bitcoin because of this (twitter source).
Lumens ICO tokens vs. Ethereum ICO tokens: According to Stellar.org, "traditionally, ICO tokens have been issued on the Ethereum network in the form of ERC20 tokens. ERC20 tokens are easy to issue and are infinitely customizable using Ethereum’s smart contracting language. However, recent events have highlighted and exacerbated some weaknesses of the network, including slow transaction processing times for the network during ICOs and increasingly expensive gas prices (by fiat standards) for transactions and smart contract execution. Moreover, many organizations require only basic tokens; they adopt the risk of Ethereum’s Turing complete programming language without taking advantage of many of its benefits."
"While Ethereum has the most expressive programming capabilities, we believe Stellar is the best choice for ICOs that do not require complex smart contracts. Stellar’s primary goal is to facilitate issuing and trading tokens, especially those tied to legal commitments by known organizations, such as claims on real-world assets or fiat currency."
Stellar vs. Ethereum #2: The median transaction time on Stellar is 5 seconds, compared to approximately 3.5 minutes on Ethereum (source). Stellar has a negligible transaction fee (.00001 XLM ~= $0.0000002) with no gas fee for computation, while depending on the complexity of the computation, the median cost for a transfer on the Ethereum network is $0.094. Security: While both Stellar and Ethereum run on a decentralized network, the Stellar network has fewer security pitfalls. Stellar uses atomic transactions comprised of simple, declarative operations while Ethereum uses turing complete programming capabilities which produces less auditable code and greater risk of exploitable vulnerabilities (source). Recently, a security flaw in the Ethereum network froze millions of dollars. According to Mobius ariticle written by David Gobaud, "On November 6, 2017, Github user deveps199 'accidentally' triggered a bug in Parity, a popular Ethereum mult-sig wallet, that froze more than $152 million in Ether across 151 addresses. The bug impacted several token sales including Polkadot, which has had ~$98 million out of its recent $145 million sale frozen."
"Mobius had none of its ongoing pre-sale Ether frozen because we do not trust Ethereum’s Smart Contract based multi-sig wallets given the vast Turing complete attack surface and did not use one. Security broadly is one of the main reasons the MOBI token that powers the DApp Store is a Stellar Protocol token and not an Ethereum token."
Lumens vs. Ripple: According to Wall Street Bitcoin Exchange, "Many investors like to compare the company [Stellar] to Ripple, and there are a lot of similarities, being that some of the founders worked on the Ripple team. In what can now be looked at as another blockchain development drama that plays out on chat boards and in interviews all across the globe. Stellar declared they fixed Ripple’s problems with their hard fork, however, Ripple has failed to admit to any of the flaws in its design that the Stellar team has pointed out." The article concludes by saying, "We Choose XLM Over XRP For 2018. That is why we are going with Stellar Lumens over Ripple in our portfolio for the rest of 2017 and 2018. After holding Ripple for a long time this year, it just never seems to make the big break like other names with bigger market caps like Bitcoin Cash, Dash, and Litecoin have. While we are holding on most all our larger market caps, we feel that Stellar Lumens will be one of the break out coins for 2018."
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Conclusion
The stellar.org team is doing an amazing job making partnerships and pioneering the use of blockchain technology for various types of transactions. What we are seeing is a new technology that can actually be used to solve real-world problems. As a community, we need to continue supporting Stellar and we will quickly see it power transactions across the world. What are your thoughts about Stellar? What do you see in the future of Stellar? Any important news you want to share? Comment below.
submitted by chargingerman to Stellar [link] [comments]

Brief History Of Bitcoin

Brief History Of Bitcoin
Bitcoins have been classed as the world's originally decentralized cash, and for as far back as ten years, they have become all the more notable and keep on developing in notoriety.

The following is a concise history of how the Bitcoin began and what has occurred since.

2007 - It was in 2007 that the idea of the Bitcoin started. It is accepted that it was begun by Satoshi Nakamoto, in spite of the fact that very little is thought about him, other than the reality he is on record as living in Japan. Truth be told, many conjecture this may very well be a pen name more than one individual. Albeit soon, this character totally evaporated from the world.

August 2008 An application for an encryption patent application was recorded by three people who denied having any association with the supposed originator of the Bitcoin idea. They were Neal Kin, Vladimir Oksman and Charles Bry.

Around the same time, they namelessly purchased and enlisted the space bitcoin.org.

October 2008 In October of 2008, only two months after the space was enlisted, a paper titled, 'Bitcoin: A Peer-to-Peer Electronic Cash System', was distributed on a cryptography mailing list, apparently composed by Satoshi Nakamoto.

The paper laid out the establishment of how the Bitcoin would really work, and takes care of the issue of cash being duplicated, which permitted Bitcoin to develop genuinely.

November 2008 A month after the white paper was distributed, the Bitcoin venture is enlisted on a network joint effort site, SourceForge, which centers around the improvement and circulation of open source programming.

January 2009 In mid 2009, the principal square, which was nicknamed 'Beginning' is propelled, which permitted the primary adaptation of Bitcoin to be discharged.

There was further hypothesis that Bitcoins were created by more than one individual, as it had been accumulated with Microsoft Visual Studio for Windows, yet needed order line interface. It was anticipated as of now that a Bitcoin age framework would make a sum of 21 million Bitcoins during that time 2040.

Later on, right now, first exchange occurred among Satoshi and Hal Finney, a designer and cryptographic lobbyist.

October 2009 In October, New Liberty Standard distributes a Bitcoin swapping scale. The worth was built up and they distributed a pace of a Bitcoin at 1USD = 1,309.03 BTC. This was chosen utilizing a condition that incorporated the expense of the power to run the PC that produced Bitcoins.

Later on this month, the #bitcoin-dev channel is enrolled on freenode IRC, which was a conversation arrange intended for nothing and open source advancement networks.

December 2009 In late 2009, the second form of the Bitcoin was created and discharged; anyway later on in the month, they acquired their first trouble increment.

February 2010 In mid 2010, the Bitcoin money trade was conceived, and the Market was built up by the now ancient organization dollar. Later on in the month, and 18 months after the application was documented, the encryption patent was distributed and endorsed.

May 2010 This month would end up being an achievement for Bitcoins, because of the way that the primary genuine exchange occurred. A software engineer named Laszlo Hanyecz, who lived in Florida pays 10,000 Bitcoins on a pizza, that was initially purchased from Papa Johns by a volunteer in England. The conversion scale at the time put the price tag for the pizza at 25USD.

https://preview.redd.it/93tj7l1248g41.jpg?width=750&format=pjpg&auto=webp&s=ddd04f2fc86eaf33bc9894dd98f30781511c4f42
Given the present swapping scale, today the pizza is esteemed at 1,961,034GBP.

July 2010 The third form of Bitcoin is created and discharged. Later on that month, there were an enormous number of new Bitcoin clients, on account of a notice of the new form on Slashdot.

During a multi day time of this current month, the trade estimation of Bitcoin expanded multiple times, from 0.0008USD/BTC to 0.080USD/BTC which the prompted Jed McCaleb building up a Bitcoin money trade showcase named MtGox.

August 2010 August 2010 end up being a sad month for the Bitcoin, and the framework was hacked. A defenselessness in the framework caused Bitcoins to be inappropriately checked, and accordingly abused, which brought about the age of 184 million Bitcoins. The made the worth drop radically.

September 2010 This was a bustling month for Bitcoins, as they attempted to recoup from the hacking the earlier month. An offer was made by jgarzik as 10,000BTC, which was proportionate to 650USD at that point, to open source their Windows-based CUDA customer. Later on that month, they took this offer and discharged the source, under the MIT permit.

October 2010 Bitcoins confronted a ton of investigation this month, when a between administrative gathering named The Financial Action Task Force gave a report on tax evasion, notice about the utilization of computerized monetary standards to fund fear based oppressor gatherings.

In spite of this report, the Bitcoin swapping scale, which had slowed down, started to climb once more. This came after the principal open adaptation of an OpenCL digger is discharged.
submitted by Bitcoin12investment to u/Bitcoin12investment [link] [comments]

Sending crypto to an email address? It's possible with XLMwallet

Sending crypto to an email address? It's possible with XLMwallet
Co-founder and CTO of Stellar Jed McCaleb once said that sending money across the world should be as easy as sending an email. Here at XLMwallet, we take it literally. To send lumens, you don't need a wallet address anymore – an email is enough.
Imagine that you need to pay a friend of yours for something, and the easiest way is obviously crypto. You happen to have some lumens in your wallet – an in any case, you prefer to pay in XLM. It's super-fast, there's almost no fee, you don't need to wait for dozens of confirmations for the transaction to go through. Stellar beats Bitcoin and Ethereum every time when it comes to money transfers.
There's just one problem: your friend has never used XLM before. She doesn't have a lumens wallet. She's never heard of Stellar. Let's make it even more difficult: she doesn't use cryptocurrency at all.
What she uses are standard systems for sending fiat money – like PayPal or PaySend. In these apps, users are identified by their emails or phone numbers. It's enough to know the email address – and you can send money from your bank card or app account balance. It's easy and convenient, but there's always a fee (sometimes 2% or more), not all countries are supported, and often it's not instant.
So you think, I wish there was a way to send her lumens so that she would easily claim them – just like with PayPal! Good news – a way to do that already exists. XLMwallet allows you to send money using just the email address of a person – even if they don't have a lumens wallet yet.
Here's how it works:
  1. You enter your friend's email and the amount you want to send in the XLMwallet.
  2. The lumens are placed in custody.
  3. A new wallet address is automatically generated for your friend.
  4. Your friend receives an email saying that she's received some XLM from you and has 30 days to claim them. The email contains a link that will take her straight to her new wallet.
  5. She is provided with the public and secret keys. The private key is not not stored anywhere in the system, so nobody could get access to it and steal her lumens.
  6. The lumens you sent are released from custody and instantly transferred to her wallet.
  7. It happens so fast that she finds the XLM already there once she's finished with the keys.
  8. Your friends also receives useful welcome tips and a beginner guide that explains how Stellar (and cryptocurrency as a whole) works and why it's a better way to send money that PayPal and other apps she's used to.
As you can see, the only thing you have to do in this scheme is provide your friend's email address and hit Send. XLMwallet will do the rest for you. This is money transfers on a completely new level.
Of course, this also works for users who already have XLMwallets – as long as you know their email. You don't have to copy and paste long blockchain addresses anymore. You can form a contact list in the wallet and simply select the recipient you want.
Now, the small caveat: some of these features are still under development. It will take a couple more months until email lumen transfers are fully operational. But our team is working hard, so keep up with our updates!


Website - https://xlmwallet.co/
Medium - https://medium.com/@stellar_wallet
Teletype— https://teletype.in/@stellar_wallet
Twitter - https://twitter.com/XLMwalletCo
submitted by Stellar__wallet to u/Stellar__wallet [link] [comments]

Welcome To r/Stellar - Read This To Get Started :)

WELCOME

With the influx of new readers, I’d like to warmly welcome everyone to Stellar. Please protect this community’s philosophy of Open-Source Citizenship by respecting the rules (see sidebar or scroll down). Let me quote the most important ones here for reference:
Don’t forget to check out Galactic Talk for the Stellar developer community and to participate in the Stellar Build Challenge to win lumens. Also, subscribe to the Monthly Newsletter to stay up to date on Stellar. Thanks for being a part of Stellar!

GETTING STARTED

What Is Stellar?

Stellar is an open-source, distributed payments infrastructure. It is a leapfrog technology that connects people, payment systems, and banks with a focus on the developing world. It lets you facilitate multi-currency and asset transactions quickly, reliably, and for a fraction of a penny by using a crypto-asset called Lumens (XLM) as a bridge.

Where Do I Start?

You want to start by getting yourself a Stellar Wallet:

Now What?

Get lumens, build apps, do an ICO, and dive into Stellar:

RULES

Below are the rules that Reddit users on Stellar must follow to participate. These can be used as reasons to remove posts/comments and ban users.

Golden Rule

You are expected to treat everyone with a certain level of respect and refrain from inappropriate behavior. Examples of inappropriate behavior include:
If you can't follow the community rules, you will not be allowed to post here.
submitted by blockbasics to Stellar [link] [comments]

Bitcoin Flash Crashes: Historical Context As BTC Recovers Losses

Bitcoin Flash Crashes: Historical Context As BTC Recovers Losses

https://preview.redd.it/51y34zrhmi131.jpg?width=1080&format=pjpg&auto=webp&s=bf73268bb846ef383904a0760e3c0a2faae43704
Will the latest Bitcoin flash crash spook crypto hodlers?
A bitcoin flash crash put a (temporary) end to the recent bull run, with bitcoin losing ten percent only days after doubling in price for the year. The result was another market panic, with $21 billion shredded from the total market capitalization in 24 hours.
And just two days later, we are almost right back where we started – bitcoin is hovering around the $8,600 mark at the time of writing.
These flash crashes happen regularly in the crypto world, where whales and news cycles drive price more than value (perceived or otherwise). And while there have been occasions when the flash crash drove a catastrophic market collapse – as in early 2018 – the more seasoned bitcoin investor might be tempted to ride these dips.
A few of the more devastating crashes are mentioned here – but there have been dozens of corrections over the years that have, as yet, failed to crush the King of Cryptocurrencies.
What Caused The Bitcoin Flash Crash This Time?
A large sell order of 5,000 BTC was placed on Bitstamp for $6,200 – around 30 percent below the then-market price. Panic ensued, with Bitstamp leading the charge downwards for bitcoin. That sentiment quickly spread market-wide.
Influential crypto identity @DoveyWan suspects manipulation, making the argument that nobody with 5,000 bitcoin would leave it on an exchange to innocuously sell.
Flash Crash? Ha! Crypto Sneezes At Ten Percent Drops!
But as mentioned above, many cryptocurrency veterans hardly sneeze at a ten percent dip. In the heady days of Mt. Gox, bitcoin saw flash crashes that put a ten percent fall to shame. Probably the most famous of all was the plunge from $32 to one cent in June 2011.
That was the result of a malicious hack of Mt. Gox founder Jed McCaleb’s account. McCaleb retained admin rights on the exchange, having sold it to Mark Karpeles three months prior. (McCaleb has also been deeply involved in both Ripple and Stellar – the latter of which he still serves, as CTO.)
Mt. Gox dramas were again behind – or correlated with – another bitcoin plunge when the exchange shut in February 2014. Just after it announced its closure on February 10th, large sell orders were placed on the two other crypto exchanges, Bitfinex and BTC-e.
The sell orders were filled, bringing bitcoin down from $620 to $102 within mere seconds. It remained at that price for only a few minutes but the crash retains a storied place in bitcoin history.
Market Dips – Traders Just Love That Volatility
Those flash crashes, of course, were related to hacks and price manipulation. But the news-driven crashes are bordering on ‘frequent’.
On April 25th, the price of bitcoin dropped by around 10%, from $5,500 to just under $5,000. On February 24th, it dropped from ~$4,100 to ~$3,700. On January 20th… well, you get the picture.
Even as BTC began its long recovery, last December saw bitcoin fall around 11 percent in a day.
But what has mired the community more, perhaps, has been the prolonged bear markets the OG crypto has endured. Generally, crypto veterans recognize three prolonged bear markets.
From June to November 2011 bitcoin lose 93 percent of its value – falling from $29 to around $2. Traders took six months to regain confidence in the emerging digital asset.
December 2013 to January 2015 was an 18-month bear market that saw bitcoin correct around 85 percent. Over the period bitcoin fell from well over the psychologically significant $1,000 mark to eventually bottom out around $177. It would not breach its all-time high again until April 2017.
And Then There Was The Winter…
Just when crypto was attracting significant mainstream media interest and impending institutional investment, we encountered a significant short-term price surge toward the end of 2017 (the famous bubble), after which prices began falling and have yet to recover.
One could note the recent price upswing and suggest that the latest bear market has finished. Others may need to see bitcoin, at the very least, above all-time highs to suggest a new bull has been born.
That price is a long way north of where we are. But there is little doubt that 2019 has offered if not a full reversal, then at least a reprieve, for bitcoin bulls.
submitted by iTradeBit to bitcoin_crypto [link] [comments]

Consensus 2018 Report (Continuous Updates Through May 17th)

Happy Wednesday! We are live!
Consensus Short Statistics
State of Blockchain
Don Tapscott
-"We are entering a new era of trust"
-Generally remarked on the benefits of blockchain. Identified the 7 types of crypto assets (Currencies, Collectibles, Stablecoins, Natural Asset Tokens [Representing minerals, water], Utility Tokens, and Security Tokens.)
FedEx
As I remarked in my comment earlier, FedEx is incredibly bullish on blockchain technology generally, but specifically in it's applications for cross-border shipping and asset-tracking. As I learned, the definition of what constitutes a "coffee cup" differs from place to place. Using blockchain, Smith says, FedEx can protect against unforeseen obstacles at customs. "Information about the package is as important as the package itself," he claims, further adding that the risk of experimenting with cryptocurrency is "de minimis" when compared to its alternative. During the session, FedEx unveiled "Trons", bluetooth-enabled sensors integrated with blockchain first announced in 2016.
Jim Bullard, St. Louis Fed
Fantastic, informational lecture regarding the history of currency and how civilizations have reacted to various implementations. Generally, Bullard notes, humans want a uniform currency. He compared cryptos with state/provincial bank notes, citing the problems faced with exchange, regulation, and value verification. We haven't yet realized this problem with cryptocurrencies since the market cap is relatively small.
Insightful statistics about and charts comparing GDP to the inflation/exchange rates of the DollaYen. Surprisingly, the volatility charts look worse than Bitcoin. Catch all of these when the videos are released later this week.
Summarizing, Bullard claimed that there will be a plurality of coins sharing the ecosystem, each providing a specific use. The Federal Reserve will likely mint a fiat/cryptocurrency that represents a stable stock of U.S. dollars sometime in the mid term future.
Jed McCaleb
I spoke with Jed of the Stellar Foundation. This is a Bitcoin subreddit, so I'll skip this part. You can find the full transcript of his thoughts here.
Charlie Lee and David Schwarz
Both spoke on a panel about interoperability between Bitcoin, Litecoin, Ripple, etc. Developers better understand that most cryptocurrencies can interface as long as they use the same "hooks". Schwartz compared this ideal system akin to TCP-IP; a minimal framework making as few technological demands as necessary.
An ecosystem with multiple coins utilizing different security protocols and consensus mechanisms is "good for Bitcoin". In a theoretical world where power becomes abundant, what happens to PoW? We want the ability to migrate to a new protocol without upending the entire financial system. In a world where security is compromised, redundancy is critical.
Lee sees UI as the next significant hurdle. Not for speculators, but for mom-and-pop investors without much tech savvy.
TxTenna
-Hardware to expand and facilitate mesh networks.
-Even if you own Bitcoin, transfer can be censored/inhibited through the network communicating the transaction to the blockchain.
-Using mesh networks, we bypass many of these constraints dealing directly with sovereign ISP's.
-This is fantastic for Bitcoin users in 3rd world countries/those with oppressive regimes. I will leave this to your imagination.
RSK
-Smart contract platform on top of the Bitcoin protocol. -Ecosystem challenges (Tx costs, security, scalability) -Tx cost is $0.035 - +10% hashing power -Up to 100 tps. -Next -Payment channels (Lumino) -Predicability (Fiat-based fees) -Decentralization (BTC and RSK full-node rewards) -Interoperability (inter-blockchain integration) 
I'm sorry if you find this post lacking/off topic. Attempted to refine down to only what might be relevant to a Bitcoin trader. Even if Bitcoin isn't specifically mentioned, many of these innovations/philosophies will apply to the crypto space generally and, thus, to Bitcoin.
It's already the end of Day 2 and I'm finishing the write-up for D1. I'll compile D2 and D3 for brevity's sake. Most of this news is now relatively (a day) old.
Thanks for your attention and help supporting the crypto revolution.
P.S. "Where is my Consensus boost!? I thought BTC should be $10k by now!"
Historically, the Consensus Boost happens several weeks after the event, likely as news disseminates.
OH FUCK
I FORGOT
Joseph Lubin bets BlockChain Capital's Jimmy Song, "any amount of Bitcoin" that blockchain will have widespread enterprise adoption within 5 years
Day 2
Will try an update. Sitting through, eToro will be opening business in the United States, launching a wallet shortly after. Users can view successful traders' profiles and subscribe to their trades, copying them second-by-second.
Circle announces a USD stablecoin and crypto wallet.
HTC announces a crypto phone.
Deloitte releases preview of cryptocurrency report, shows majority of companies pursuing blockchain.
-"But this is just blockchain". Yes, and a rising tide lifts all ships.
The Magical Crypto Friends Live From Consensus. Warning, shitty audio.
-Founders of several currencies (Litecoin, Monero) discuss Buffett, Bitcoin, and other BS. 56 minute duration. For the hardcore.
Day 3
Alright!
Ledger
-Announcing a consortium for investors/institutions who manage multiple accounts. Today, Ledger Nano S is really only useful to the individual owner.
-Called, "Komino"? (Japanese Script).
-Isn't this compromising the dream of Satoshi? Speaker thinks no. The dream is that everyone can use Bitcoin as they see fit. Large companies can have positions in Bitcoin without changing the life of crypto maximalists who can still use cryptocurrencies.
-Bankers have the right to "Go full Moon and lambos".
Polymath
-The next big wave in crypto are Security Tokens.
-Real estate, equity in companies.
-Amongst crypto VC founders, Security Tokens will comprise 50-90% of the crypto market in the coming years. Currently, the share is approximately 1%.
-You can create a security token right now. Log on here and try the demo.
-First blockchain telegram to reach 50,000 users.
-Integrating with tZero. All new securities should have liquidity out of the box.
-ST-20. A security token standard designed to ameliorate many of the issues with fragmented ICO's.
-Launching a ST Venture Fund, "Polymath Capital".
-New CoinMarketCap competitor. "Tokens.com". Perhaps they'll finally force some innovation on the CMC side.
-Polymath 2.0 TestNet now live.
BlockStack
-Internet 3.0 is here. Mesh networks, decentralized data, crypto assets. We are not storing data with companies anymore, we are personally responsible. One day, we will have a universal ID that removes the need for a rolodex of passwords, usernames, and security questions.
-BlockStack members advise on Silicon Valley. Fun fact.
-Infrastructure and speculative investment grew from less than $100B in January, to $100B in May, and, finally, over $600B by November.
-Sounds like a dApp talk. They're making iTunes for dApps. I'll come back when he says, "Bitcoin".
Jack Dorsey and Elizabeth Stark
-Jack first heard of Bitcoin in St. Louis via a group of Cypherpunks.
-Appreciated the complexity of code, but didn't realize the potential just yet.
-Met some engineers who wanted to build a Bitcoin solution for Square. Buyers/sellers could accept Bitcoin without knowing they were using Bitcoin.
-Community "felt like Usenet" as it developed between 2014 and 2017. "Felt electric".
-Claimed Square's strengths are speed and simplicity. Credit cards are complex and often emotional. Talking about the Cash app, the goal is to revisit the coffee purchase of old and make it feasible using Bitcoin.
-"We have evidence to show people are using this as their primary spending account, their primary bank account, and, in some cases, their only bank account."
-"We have people that have been blocked from entering the financial industry." Even merchants had problems accepting payments. "Reaching the underserved, reaching the unbanked", he says, feels good.
-On Square adopting Bitcoin. "It was certainly contentious within our company." "I guess we always take the mindset that we can't wait for things to happen to us...If we want responsible uses...then we have to make that happen, we have to do the work to educate regulators, educate the SEC, show that we can provide more access to more people...give people a chance to participate in the economy...still a lot of disagreements and fights, but that's where the magic happens. We really push through, and this tested us. There was certainly a spotlight on us because of that fact, but there are a lot of unknowns. We ran towards them."
-On the future, the potential of Bitcoin. "The internet deserves a native currency. It will have a native currency. I don't know if it will be Bitcoin or not, but I hope it will be. I appreciate the technology so much; the principles behind it. Using the guide that the Internet will have a global currency...it's going to happen. As a company, as individuals, we need to learn how to make that happen. The biggest thing I worry about as a company is there is so much openness within the community, I hope nothing corporate will come in and threaten it." Protecting the open-source nature of the work. "This is a discussion I have a lot with Mike and the team. No one company or corporation should own this. This is the main question of everyone I meet in the community. We have a completely open mindset to ensure this remains a completely open platform. Let's not wait for it to happen. Let's do our part to encourage it to be used in healthy ways and ensure that everyone has access to it. If we ever go astray call us out. We can't do any of this without the technology being strong and available to everyone."
-"Obviously we are a centralized organization that benefits from decentralization. It's a theme of conversation within our organization and we're looking to decentralize our workforce. Cash is an interesting application in our company." Going to Australia next week to check in with the local team there. They are agnostic on what locale partners decide to nest in.
-Large corporate HQ's like Twitter and Square, "are a thing of the past". People will be able to work from wherever they please.
-"Nobody is going to a bank for a $6,000 loan. They're going to friends and family." They can all be served with this technology.
-Hesitates to make articulated 5-10 year predictions, prefers patience and iterating as each year develops. "We want to go back to the original idea of being able to purchase a coffee with it. That's why we're working with you. Whatever it takes to get there, we're going to try and make it happen." Encouraging more access to the financial space is the primary objective of the Square organization.
-"Over the past two years since we've really pushed our way into this, I've felt that electricity"
-Elizabeth Stark feels like she's living through the mid-90's again, "In a positive way".
-Stark is an optimist. "Really seeing the value behind the means of transacting without a middle party." It wasn't until Satoshi's whitepaper did we have the means to build a solution to this problem.
-"Our goal with Lightning is to enable an application layer like the Internet". -Stark
-On potential, compelling apps built on Bitcoin. "As I said, there's just so much to trust, to identity, to decentralizing almost everything we use today in a centralized way. We get the power of the crowd, the ability to see so many amazing perspectives and opinions to make our answers much better. I don't think about that as much as I think about what we need to focus on."
-On what they need to focus on. "There's a desire for more. There's definitely an incentive to hold the technology and encourage a mindset of saving rather than spending. But making it easier to spend, easier to transact, easier to do the everyday is what we need to focus on. We aren't necessarily going to be the company that comes up with the right frameworks or technologies, but I'm confident we'll be part of facilitating the process."
-The ultimate relationship with a regulator is that of education, Dorsey claims.
-On becomng a global company. "If we were ever able to use it as a payment mechanism today, we could release it all over the world opposed to the 5 markets we're in today. With each market, we have to find a banking partner, work through the regulatory." Only way to accept credit cards in Japan involved a 15-minute interview with an official. There is a large amount of legacy legislation that hampers adoption.
-On the next steps of democratizing finance. "Hardest part is continuing this conversation...certainly the regulatory bodies around the world, the banks..." Slowly but surely, Square is converting Goldman Sach's-types, showing them the reasons behind the movement. Having, "healthy discussions at the board level."
-On advice getting started in the industry. "Follow the conversation on Twitter, first and foremost. (laughter) And not just follow." When he first followed the industry, he felt like he had nothing to contribute. Join the conversation, express a point of view. "So many people fear expressing an opinion...instead of treating it like a conversation". "While you follow these conversations--jump in. People are going to think you're weird, they'll disagree with you, but you'll sharpen your opinions...find where they resonate." Pursue success from there.
BCash
I visited the BCash table and asked the representative to respond to claims that the company was causing label confusion amongst BTC and BCH. She locked up, asked if I was press, and, "was not at liberty to discuss the topic".
Scam. Scam. Scam. Did I say scam?
That's it for Bitcoin! Thanks for playing Consensus 2018!
I have tons of photos to upload, which I'll share in the Daily General Discussion as they come online.
submitted by MysteriousBarber to BitcoinMarkets [link] [comments]

My Lumen FAQ

The following are my OPINIONS ONLY, based on my understanding of various sources I have come across. This is NOT intended to serve as investment advice or any kind of advice, and I am not an expert of any kind. You must do your own research. The first place you should visit is the Stellar official website, and more specifically their Lumen FAQ.
Lumens are available on these exchanges: exchange list
There are two ways to purchase Lumens on the exchanges: buy directly using your country’s (fiat) currency, or buy another established cryptocurrency (such as Bitcoin, Ethereum, or Litecoin) and then use that cryptocurrency to purchase Lumens (on the same or different exchange). As of January 2018, there are not many exchanges where you can buy Lumens directly, but several promising projects are in the works and those exchanges could be up and running in the very near future (example: FairX.io, yicex.com, and peerex.co).
A small group of cryptocurrencies, including Lumens, are built for a “higher purpose” than just replacing hard currency or as investments. This select group aims to solve certain problems in the world. In the case of Stellar Lumens, the Stellar organization’s mission is to connect people to low-cost financial services, which will help everyone and especially the billions of underbanked people in the developing world. What separates Stellar from the rest of this group is that Stellar has progressed very far toward its goal of global adoption and continues at a fast pace. It has formed major business partnerships, including IBM, Deloitte, and Stripe. Stellar is already running a blockchain banking network in a 12-currency region which includes Australia and New Zealand. Since the technology is open source, the Stellar organization seeks input from tech professionals all over the world to build and continuously improve the technology, the result of which is an explosion of new apps and use cases all operating on the Stellar network. Also, since Stellar.org is a non-profit organization, we don’t have to fear a corporate overlord. The Stellar team is top notch, including Jed McCaleb (founder of Stellar, Ripple, and the first major Bitcoin exchange Mt. Gox). The team travels all over the world, showcasing what the technology has to offer and establishing new partnerships.
In summary, Lumens are more than just a cryptocurrency or investment. As the underlying currency of the Stellar network, Lumens are a necessary part of what will likely be a globally-adopted technology that serves an unmet need. The more valued the technology becomes, the more valued Lumens become. All other cryptocurrencies that are not attached to impactful technologies or have slow adoption will likely lose value over time or even disappear.
A lumen is a unit of cryptocurrency that is the native (built-in) currency of the Stellar network. Its symbol is XLM (formerly STR). As of January 2018, approximately 18 billion are in circulation. It is planned that there will be a total of 100 billion Lumens distributed worldwide (it will take a few years for this to be completed). There is a built-in 1% annual inflation rate, which means that 1% is added to the total number of Lumens each year. By the way, Ripple’s cryptocurrency also has a planned total circulation 100 billion XRP’s.
Lumens are built into the Stellar network; they are required for any transactions performed on the Stellar network. Lumens serve two purposes: security (anti-spam), and bridge currency.
One way lumens provide security is that each transaction on the Stellar network costs a small amount of lumen (about 0.00001 lumen), which prevents bad actors from flooding the network with small transactions (called a DoS attack). A second way Lumens provide security is the requirement that every account on the Stellar network must hold a minimum balance of Lumens (currently 20 Lumens, soon likely to be reduced to 10 Lumens), helping to ensure that all accounts are genuine.
For transactions that involve two different currencies (or two different assets), the Lumen facilitates the transaction by acting as a bridge. For example: US Dollar to Lumen to Chinese Yuan. It is important to note that, as a universal bridge currency, the Lumen must have real value (purchasing power) anywhere in the world. That is why Lumens are traded on global exchanges; people and businesses will be actively converting their specific currencies to Lumens and vice versa every day, thereby establishing the Lumen’s value.
Since Lumens are openly traded on global exchanges, investors may see Lumens as a store of value. As more applications using the Stellar network become adopted, the volume of transactions performed on the network increases. Since Lumens are a necessary part of the system, Lumens become more “valuable” and the price of a Lumen may rise on the exchanges. As with any other cryptocurrency right now, there is also an element of speculation that can affect the price of a Lumen.
The mission of the Stellar network is to provide low-cost, high-speed transactions for anyone in the world, including the unbanked billions of people in developing countries. As Lumen prices rise, it would seem reasonable that Stellar will keep pace by reducing the minimum balance requirement and even the per-transaction lumen cost. In this way, the real cost to open a Stellar account and to transact on the Stellar network can continue to remain low.
Ideally, the two parties involved in a transaction would want the value of the bridge currency to remain stable until their transaction is completed. The value of Lumens is determined by the market and is therefore subject to fluctuation (as with any currency, whether digital or fiat). Fortunately, each transaction on the Stellar network only takes about 2 to 5 seconds to complete, so stability of Lumen price may not be a significant issue anyway.
The two parties involved in a transaction only care that the transaction gets completed successfully. Assuming sufficient stability during the transaction (as mentioned above), the actual price of a Lumen should not matter. For example, if the two parties are exchanging 10 US Dollars into 65 Chinese Yuan, each of these is equally possible: (10 US Dollars = 10 Lumen = 65 Yuan) , or (10 US Dollars = 0.5 Lumens = 65 Yuan).
Stellar adds 1% to the total Lumens each year, apparently to account for Lumens that are accidentally lost (for example, lost wallet info or errors during transfers). This 1%, as well as all Lumen fees paid for transactions on the Stellar network, are added to an “inflation pool” each year. Each holder of a Stellar account gets to vote for another account (or even their own account) that they want to receive the inflation pool, and any account holder that receives at least 0.05% of the votes will receive a pro-rated amount of the Lumens from the pool for that year (the pool Lumens are actually distributed weekly). The inflation pool is apparently an incentive for account holders to become good citizens of the Stellar ecosystem, making them popular enough to receive votes.
For the sake of argument, let’s assume the entire supply of 100 billion Lumens has already been distributed. As mentioned earlier, Lumens are used to pay for transactions on the Stellar network (currently 0.00001 Lumen per transaction), and Lumens act as a bridge currency. For the purposes of transaction fees, the supply of Lumens is probably more than enough to meet that need. For the purposes of bride currency, it’s a different story. One source estimated that the worldwide total number of non-cash transactions (checks, credit cards, etc.) in 2011 was over 400 trillion US dollars, or roughly 1.1 trillion US dollars per day. Even if Stellar were to handle only 25% of all those transactions, Stellar would need at minimum 275 billion US dollars of bridge currency available each day, which would set the price of a Lumen at $2.75 each. However, for things to run smoothly, there must be adequate reserves of bridge currency, especially in times of crisis. It has been suggested that banks have a 30 day supply of reserves, so we could expect the same of the bridge currency. Since the Lumen supply is fixed at 100 billion (not including 1% inflation), the Lumen price should be 30 times $2.75, or $82.50 for each Lumen. Throw in other factors that further restrict the circulating supply of Lumens, like people holding onto Lumens as investments instead of spending Lumens, and the price of each Lumen will increase further. And since Lumens are purchased on exchanges, market forces may drive up the price even more. You get the idea.
This is just a hypothetical case to explain why I believe the value (price) of the Lumen will be much higher than it is today, even with the large supply. Whether you agree with that explanation or not, it is reasonable to expect that the inherent value of Lumens will increase as adoption and use of the Stellar network increases.
submitted by SaneObserver to Stellar [link] [comments]

Doge Token : AKA the post Sporklin did not want to make.

At times Twitter is not the platform that allows the proper conveyance of engagement, 280 characters is generally not enough; especially for myself. Given the topic here I ask that you allow me the grace of a proper platform in order to do this in a manner that leaves little question to intention.
I want to preface this given rarely do I have to do these in public. Myself, the Dogecoin Core Developers believe that the space is wonderful, diverse, creative, and engaging across the several thousands of assets that exist. It is neither my intention nor our intention to prohibit, attack, dissuade or otherwise disincline something from existing in the space. However every now and again projects do pop up that seem to want their "upstart" in the space to begin with attacking Dogecoin. As a community driven asset with deeply communal ties to the entire space there are moments where even we pause and ask for clarity. This can help to gauge intentions, cause and more than once has led to showing someone as a "bad actor" in the space. We have spent over half a decade working with the Doge/Dogecoin branding, there are many assets with the name which we believe only helps to engage further people into cryptocurrency.
So Doge Token.
Technology
DogeCoin is technologically behind
However, it’s core technology has not been upgraded much, and it has not been updated in well over a year latest releases from 2015.
Github can be hard to manage, and understand. What I fail to fathom is how you missed that we have had 7 releases since 2015. Dogecoin Releases. Further for the coming 1.14 release there was active and ongoing communal interaction and input along the way as Dogecoin is a social consensus asset not just network/chain consensus based. Path to 1.14 Which for noting puts our public start into 1.14 barely a year beyond the 1.10 DogeParty release. (Which happened in 2016, where you state nothing has been done since 2015.)
Further as is shown there in the above posting 1.16-dev shows work. 1.17-dev Shows work as of 11 days ago even as we are waiting on final push for 1.14. This all counters your claim that there has been no releases, that nothing has been upgraded much.
If you would care to explain why your white paper states otherwise I would be willing to listen, especially given as it is rather public what we are doing, when we are doing it, and further more who is doing what. We are community based, and there are comments on both @dogecoin along with @dogecoin_devs both have been active in keeping communities updated. I sourced most of the postings for the large post from reddit, and that is only half of the updates. We have also spent time among the telegram communities, slack, discord, Steam communities, IRC communities across a span of multiple languages no less interacting, updating, and engaging with users.
Rolling back into the initial statement, "Dogecoin is technologically behind". I am curious where you see this, personally. This was gone into recently, by someone else who screamed the same things. Reality of Dogecoin Perhaps you missed this as well?
Doge Token lives on the Stellar blockchain
Stellar is the one of the fastest growing and largest blockchain platforms out there.
Stellar nodes/validators 43 have uptime in the past 24 hours.
Dogecoin Nodes This private node saw 420 other ones in 24 hours. (There are other versions listed there, they are forked coins that did not change the basis so appear on our node relay maps.) Nevermind what our public nodes see daily.
Do not take this as a hit to Stellar, it has been around since July 2014. It is old in the space which is amazing it has lasted given how many projects die. However stating that it is one of the fastest growing and largest blockchains, is a bit of a stretch. It is a rather creative stretch in reality. I understand they function differently than Dogecoin in their handling, still "largest blockchain platforms out there"; just to note.
ETH 6439 July 2015
BCH 786 BTCU 698 August 2017 / January 2016
BSV 485 November 2018
I got fairly far down the list on CMC and to continue seemed overly harsh as the trend continued.
Constant updates and support further improve the Stellar blockchain platform.
Factual they also do micro releases (small tweak releases) and they do master branch implementation and developmental work. A bit different than many things in the space.
Shibe loves Stellar.
It is a bit mutual. Dogecoin is such an interesting blockchain and serious project, that peek the advisors we have ties, old ones. Even as Stellar grew over the years more than a few of their services did drops to Dogecoin just due to the history between the assets. OneCred rip now This was one of the early services for Stellar.
PoW vs Green Tech
DogeCoin: Much Hash, Such Work
Even though DogeCoin has many orders of magnitude fewer transactions and smaller transactional value, it now exceeds over 20TH/s in terms of hashrate.
You are not wrong, in fact the other day we were one of the tops for hashrate in the entire space. It has been a long while since we were near 20TH/s though hashrate 9/22/2017 was the last time we were under 20TH/s. Just as a note, more transactions does not mean more energy spent as the energy spent is per block which contains multiple transactions.
The amount of electricity wasted to power stagnant technology negatively impacts the environment
You seem to have missed that Dogecoin is AuxPoW, this means that Dogecoin mining is a byproduct of Litecoin mining. Which is why our hashrates are generally close. This also takes the energy "waste" down to running a node, which most networks in the space have. Deciding it is wasteful simply for your narrative in Dogecoin's case; seems short sighted and a bit targeted.
and reduces mining rewards.
Given there is a very low energy cost via AuxPoW, there is not a reduction in mining rewards. Further given Dogecoin entered the "legacy" mining period we are beyond halvening, we are forever to the 10k block rewards which facilitate ongoing transactional functionality. Transaction fees, along with block rewards go to the miners; there is no reduction to the mining rewards for the miners.
Despite all this waste
Given the network is rather efficient, I do not understand the implication of waste.
DogeCoin is still theoretically much less secure than Stellar.
Based around what theoretical reference? Dogecoin is five and a half years old, in actual reality of functional existence ..Dogecoin has not had an attack that in any manner made the blockchain less secure. Further more blockchain audits, independent security reviews, network health reviews tend to be part of the listing process for the higher level compliant functioning exchanges. To date we have yet to fail one, shutter or even has a questionable passing.
You state Dogecoin is insecure in theory.. Did you miss that Dogecoin follows Bitcoin's upstream? The codebase is public, if you wish to state we are insecure I will ask you for the proof of your claims, it is a rather grave implication to make without cause. I assume you have found something everyone else has missed, care to share?
Doge Token: Such Green, Much token
Transparency and Safety
DogeCoin: Much scam, Such Sad
Remember the days of tipbots. Yes? Well we’re sure things didn’t end very well for the most avid tippers.
Pardon? I ask this honestly as we have had multiple tipbots ongoing for multiple platforms; with no issues in assorted communities that have had no issues. Surely you are aware that the tipbots, are external, third party offerings; they are unattached and uninvolved in the actual Dogecoin project. I state this because you seem to be of the mind that because something happened externally, on third party offerings, by third party developers; that it somehow reflects on Dogecoin itself.
Applications built on DogeCoin are often closed source and non-contract enforced.
Discord - Frog's
Discord - BA
Discord - BitsBot
Discord - MSFT
Twitter - Beir's
Twitter - TipDoge
Reddit - Dogetipbot - Mohland - Redacted code
Reddit - Dogetipbot - Mohland - Redacted code
Reddit - AltcoinTip -Vindimy
Reddit - SoDogeTip
IRC - Doger - One of the longest running tipbots in the space.
IRC - Doger Soak
IRC- NRP
Slack - Val
Telegram - Peakshift
These are just the ones off the top of my head.
We only mourn for the nice shibes who were victimized by these viles scammers.
Broad statements are made here in relation to all the tipbots. The one that did have issues, you seem to have missed was not actually tied to the project. Further more it was not just a tipbot that was impacted but an entire company. DogeTipBot.
Doge Token: Such Clear, Much Trust
Doge Token cannot be attacked with 51% attack and this makes us invulnerable.
You are correct, it does not take a 51% attack to take Doge Token down. It takes sadly removing two nodes from the Stellar network down to take everything, in the fullest down. Due to their more centralized nature of issuance, and operation the base network under Doge Token is publicly known to have several issues. Recently Stellar had a review by an external third party. Stellar security which goes on to detail several known issues in relation to the base functionality methods of Stellar. Understanding that on the base, anyone can claim anything noting that David himself came out to reply seems important. Further adding to this is just what KAIST is along with why it is important to note that it was not just random people making these claims.
Stellar exploit allowed 2.2bn Lumens to be created 2017. This was an onchain direct exploit.
Ongoing issues with Stellar, one which related to SDEX where Doge Token exists bug reporting.
Stellar Dex had an issue disclosed, which rather went interestingly.
Now the very important distinction here, what I have listed above are on chain issues, they are flaws exploits, problems related to the base code of functionality of Stellar itself; not third party issues. They are also public knowledge to be issues do please do not assume I am taking a swing at their project.
In the interest of disclosure there have been third party troubles relating to Stellar as well.
There was the BlackWallet hack Jan 2018 hack that resulted in 400kUSD stolen.
This makes Doge Token more trust-worthy than DogeCoin.
I will note that your entire white paper is based around false claims, baseless speculation, very easily disproved comments about the Dogecoin project, and further more implied relations which are not the actual basis of anything. We have tried in vain repeatedly to contact your project, and you have resisted.
I understand the space is huge, in fact we find it wonderful that it is so diverse. What we pause at, and what will always pause at are projects that make baseless claims, attacks, spread misinformation and bluntly put, lie. Whatever your intentions are this is not the best way to step into the space, especially given we have already had to answer for your projects comments, and we are also very curious why you took a logo without credit to the artist.
In terms of trust? Dogecoin has been here for over half a decade, our engagements are public, our codebase is public, our communications. Our communities are user driven, our third party platforms are also user driven. Where do you find fault in the trust-worthiness given who we are is rather public, we engage in the space openly as people, we are honest, direct and very proactive in relation to the entire userbase.
Sadly, the same cannot be said for you. With this it is our hope that you do correct your statements, that you do make things clearer, further more crediting the artist of your logo would also be kindly. Your methods are deceptive, your entire whitepaper is made up of libelous commentary. I do hope we can find a middle ground that does not take this much further given your stance thus far as been to mislead users by making grossly incorrect comments to further your own personal gains.
submitted by Sporklin to MyToyBox [link] [comments]

On This Day In Crypto History - April 7-14th

On this day in Crypto History
'18 BTC jumped $1000 in 30mins
'17 Russia eyes legal recognition of Bitcoin
'16 Ethereum used to sell energy in Brooklyn
'15 Jed McCaleb discusses Stellar new protocol
'14 Charlie Shrem indicted for money laundering
'13 Winklevoss twins claim to own 1% of all Bitcoin
submitted by nugget_alex to ethtrader [link] [comments]

Welcome to /r/Stellar - Read this to GET STARTED

WELCOME

Stellar
Hi there!
I'd like to welcome both new and seasoned users to Stellar! The community has grown exponentially over the past 6 months and with this growth has come a great collection of fresh ideas to the ecosystem. It's important to remember to protect this community's philosophy of Open-Source Citizenship by respecting the rules (see sidebar and scroll to the bottom of this post) and respecting each other. This community's rules & guidelines are in place to foster collaboration, quality conversation, and user safety.
Don't forget to check out our community page for community events, forums, and upcoming program information. Subscribe to the monthly newsletter to stay up-to-date on Stellar. You can also see development updates on our GitHub repositories and chat live with members of the ecosystem on Keybase! Thanks for being a part of the /Stellar community!

GETTING STARTED

What Is Stellar?

Stellar is an open-source, distributed payments infrastructure. It is a leapfrog technology that connects people, payment systems, and banks with a focus on the developing world. It lets you facilitate multi-currency and asset transactions quickly, reliably, and for a fraction of a penny by using a crypto-asset called Lumens (XLM) as a bridge.

Where Do I Start?

You can start exploring the Stellar network by setting up an account and wallet:
https://www.stellar.org/lumens/wallets/

Now What?

Guides, FAQS, and programs for the Stellar ecosystem:

RULES

Please read the /Stellar user rules. These can be used as reasons to remove posts/comments and ban users. The summarized rules can be found below

If you are interested in volunteering for the /Stellar volunteer mod team, please contact _kolten

Golden Rule

You are expected to treat everyone with a certain level of respect and refrain from inappropriate behavior. Examples of inappropriate behavior include:

Scam Alert

Protect yourself against scams and media impersonators!! Stellar Development Foundation will NEVER ask your Secret Key unless in the official website. Stellar Development Foundation will NEVER contact you in media platforms to offer a giveaway, always report those messages so they can be removed to protect our community. The official links are:

Disclaimer

Stellar Development Foundation (SDF) does not endorse any third party organizations that are named in this and/or any other communication(s). Please conduct due diligence and interact with these organizations at your discretion.
submitted by StellarZac to Stellar [link] [comments]

No mean to Fudle, but things that worry me as a Ripple 'Hodler' (a mixture of facts and feelings)

Some point from the Dark Side Of The Hodl.
Intentions = discussing and learning.
• If you are not being an a) inside trader, b) a genius neural network algo day trader or c) a whale manipulator then you probably are a (clueless) hodler like me. • When XRP price went up in December I remember Ripple CEO Brad Garlinghouse spoke about seeing a trend of Bitcoin and XRP price de-coupling. Looking at recent correlation charts (https://bitinfocharts.com/correlation.html and https://www.sifrdata.com/category/correlations/) there unfortunately still is no real de-coupling. I have faith in Ripple’s vision and technology, but I wonder what level of financial trading knowledge there is inside the company (knowledge of financial markets and financial derivates and manipulation tactics). • Speaking of financial weapons of mass destruction, why do financial derivates even exist? I know how investor Warren Buffet (the third wealthiest person on earth) feels about them. I also know derivates are invented and built by people with rocket science level IQ. These instruments recently infiltrated the cryptocurrency market (futures, ETF, options, swaps etc.). I guess that means “bye” to the original bitcoin philosophy of giving people more control over their own finances and keeping out those who were responsible for the last big financial crisis (https://www.bloomberg.com/news/articles/2018-03-29/barclays-agrees-to-pay-2-billion-to-settle-u-s-rmbs-suit). But of course, nobly trying to reduce the impact of financial scandals and crisis on the economy and our everyday life is something only Don Quixote would endeavor. Still, we should be grateful to people trying to do the right thing. • Recently Ripple chief cryptographer David Schwartz admitted (on Twitter) he couldn’t explain the recent rise and fall of XRP price (and other cryptocurrencies). For me that adds to uncertainty. • The fact that a large concentration of XRP holdings is in a few hands makes me a little uncomfortable. I am not talking about the escrow part here, which is fine by me. But, I could imagine that ‘the powers that be’ almost got a heart attack when they found out that some relatively small crypto company went from doing financially all right to financially catching up with the wealthiest people on earth. In just a few weeks: https://www.investopedia.com/news/ripple-execs-get-superrich-xrp-success-new-billionaires/ • A large XRP holding in de hand of Ripple rival (and Ripple co-founder) Jed McCaleb from Stellar doesn’t give me peace of mind either. Still, after reading some specifics about Jed McCaleb and Ripple (http://observer.com/2015/02/the-race-to-replace-bitcoin/), I rather support Ripple than Stellar. • Ripple Labs Inc. versus. R3 court case of course also has discomfort potential: https://www.xrpchat.com/topic/18838-ripple-labs-v-r3-update-w-court-documents/ • If these points don’t make you uncomfortable, good for you. But how about others average investors? Or more importantly, how about institutional investors and other big players? • Lastly, (not specific to Ripple or crypto), can somebody explain why anybody should be able to ‘naked short sell’ whatever, with leverage up to 100 times? Or how about 1000 times? Most of the time I just hear the usual hedging, risk management and liquidity nonsense as excuse arguments. https://en.wikipedia.org/wiki/Naked_short_selling Perhaps price levels only moving in one direction (mostly upwards because of seeing potential in a company or coin but also because of FOMO), is not making enough money for some people. So, let’s make price moving in two directions (instead of one) to double profit potential. Moving in waves around different price levels seems like a money-making cycle that can go on forever. Furthermore, it is just saver to let the price fluctuate at price levels where some people won’t feel threatened too much for losing power status quo. https://ambcrypto.com/price-manipulation-of-bitcoin-btc-okex-announces-rollback-of-futures-contract-data/
TL:DR version: finance sucks, still hodling on…….
submitted by CreditDefaultSlap to XRP [link] [comments]

On This Day In Crypto History - April 7-14th

On this day in Crypto History
'18 BTC jumped $1000 in 30mins
'17 Russia eyes legal recognition of Bitcoin
'16 Ethereum used to sell energy in Brooklyn
'15 Jed McCaleb discusses Stellar new protocol
'14 Charlie Shrem indicted for money laundering
'13 Winklevoss twins claim to own 1% of all Bitcoin
submitted by nugget_alex to CryptoCurrency [link] [comments]

HODL alert: The future of Stellar is bright! CONCLUSIONS of Michael Dowling AMA

Michael Dowling, the Group CTO and Chief Architect for Blockchain Financial Services at IBM, held an AMA yesterday under the name i_love_golang for Stellar redditors interested in the direction of Stellar.org in 2018.
Here are the main takeaways from the AMA:
Question asked by siaubus: "Why did you pick Stellar for the project?"
Answer by i_love_golang: 1: People Our team at IBM believe that people, not technology, make for solutions. More importantly, having the right people, with the right mindset, with the right incentives, with the right subject matter expertise, make for solutions that bring actual value to the world. In our experience working with the Stellar team, we saw a perfect match. The folks at Stellar, like us, want to see the world move past the 40+ year old fragmented system that we all suffer in today, but move towards a system that is more fair and equitable for all. 2: Asset Class XLM/Lumens market, while relatively small today, is growing, and growing fast. More and more people are buying Lumens and trading them, albeit for other cryptocurrencies, actively. Along with our partners at KlickEx, we have a strong desire (and requirement!) to also open the market for fiat (traditional currency) to XLM at the institutional level. Also important to us was knowing up front the full ownership structure of Lumens with respect to the founders and the development foundation managing XLM. The process is completely transparent and we (and you!) know the founders’ holdings of XLM. This helps us to ensure there’s as little financial conflict of interest as possible. 3: Technology The choice of tech, our team needed to take into considering some of the future capabilities and participants on the network. A very unique capability with Stellar is the ability to issue an asset directly on the network, and specify how that asset is managed on the network and what nodes validate and confirm transactions. That means we can work with other parties - such as traditional fiat currency issuers (stay tuned :) ) - and help them feel safe about issuing on-chain. Together with the technology we developed at IBM using Hyperledger Fabric, the ability to clear transactions with very fast settlement using Lumens was a no-brainer and a perfect match. Together, traditional - and non-traditional - Financial institutions can settle using a cryptocurrency/digital asset, with those transactions directly tied to counter-terrorism financing, AML, and KYC processes required by regulators around the world. Basically, its the missing piece those institutions need to move forward transacting with digital assets.
CONCLUSION #1 One reason Stellar is a valuable company is because of its team. Jed McCaleb, the founder and visionary of Stellar, has been a disrupter since 2000 with eDonkey, one of the largest file-sharing network at the time. He created the first Bitcoin exchange Mt. Gox, co-founded Ripple, then took his experience from Ripple to create the company we now know as Stellar. Jed has built a strong team of software engineers, innovators, researchers, scientists, businessmen and businesswomen, relationship builders, financial advisers, and so on to bring Stellar to life. His board members are diverse, including people from Stripe, Apache Software Foundation, WordPress, AngelList, and now IBM. The resources that are available for Stellar to grow are rich and diverse. Will Jed’s disruptive track record prove once again with Stellar? Mr. Dowling goes on to say “XLM/Lumens market, while relatively small today, is growing, and growing fast.” He has inside information and can clearly see the direction of the XLM market. This should be an indicator of what will happen to XLM in 2018. Mr. Dowling said IBM invested in the technology because assets can easily be issued directly on the network and be easily managed. According to Jed McCaleb in https://youtu.be/GIMOrsPxlZg at 5:25, he talks about Bitcoin and Stellar and the flaws of Bitcoin that Stellar fixes (I highly recommend watching the video) “Bitcoin is this awesome innovation. The first thing it does is converts a real world resource, electricity, into a digital asset. So it takes something from the real world and puts it into the digital realm. The second thing it does is provides immutable public record. It’s basically a database that everyone can see but no one change arbitrarily… That’s great, Bitcoin solves the double spin problem [ of proving possession and transmitting volume]… [To fix problems of bitcoin] you might think well maybe we’ll just kind of keep adding [software] to Bitcoin until we get there, but that’s not really the way software works. You want to have the design from the beginning and solve these simple issues. Bitcoin was designed to be a new currency, it wasn’t really designed to be this unifying universal payment network. So that’s what Stellar does. It solves these three remaining issues.” Jed has watched Bitcoin rise and knows the strengths and flaws of Ripple, and with that knowledge, he built Stellar.
Question asked by sintax_: "When does IBM plan to start using Lumens for transactions?"
Answer by i_love_golang: Immediately. The week of the announcement, we transacted with a few tightly monitored real-world value transfers. Through this year, you’ll see that traffic increasing gradually as more transactions are allowed to move through without tight monitoring. Basically: this is real money, affecting real people. There is zero room for error, so we’re making damn sure the system is built for scale.
CONCLUSION #2 It’s already in use. So far It works! Expect heavy traffic in the future. They are creating a platform that will be scaled to a large network.
Question asked by FuckJimmyFallon: "Is the partnership with Stellar temporary or long term? Will the network be integrated with IBMs cross border payments permanently?"
Answer by i_love_golang: This partnership is not just long term - it’s tight. Stellar joined the Hyperledger Foundation in addition to partnering on this project. There are many upcoming projects coming up this year about to be announced. Stay tuned :)
CONCLUSION #3 The IBM partnership is permanent and secure! I was wondering how involved IBM would be with Stellar and this sums the question up. Also, more projects = more real-life use cases = more money transfers by XLM = higher market cap and traffic on the network. Don’t forget that the value of XLM increases as people place more intrinsic value of the stellar project as a whole, which comes along with disruptive projects and partnerships.
Question asked by who_dat_swag: "How many partners from finance are on board with the project? How long do you expect to be using the stellar network and what might replace it?"
Answer by i_love_golang: We have 1 major market maker (right now - again, stay tuned VERY soon), and 14 major institutions involved in direct or indirect capacity on the network. Starting in Q12018, you should see more of those institutions redirecting payment traffic on the network. This will be a slow, gradual increase over time. That’s the right way to do this kind of things.
CONCLUSION #4 MORE PARTNERSHIPS! I remember watching Ethereum and Ripple in early 2017 before they announced large partnerships such as the Enterprise Ethereum Alliance (BP, Cisco, Intel, J.P. Morgan, Microsoft) and Ripple with financial institutions. Ethereum was $20 and Ripple was $.006. Look where they are today as they are more developed with a variety of partnerships. XLM have not hit this growth spurt in price and it is something that will happen within the next couple years. Remember, “this will be a slow, gradual increase over time” so this is for all of you noobs wondering why the price of Stellar hasn’t reached the moon. He also restates that there WILL be more traffic on the Stellar network. He has vision to the Stellar project that allows him to tell us this and I’m very optimistic.
Last Question asked by macjesu: "Any other cool partnerships coming for the future?"
Answer by i_love_golang: Oh, oh yes there are. Stay tuned.
CONCLUSION #5 MOON.
What are your thoughts about Stellar? What questions do you have about XLM/Stellar? Where do you expect to see Stellar next year at Q3 of 2018?
submitted by chargingerman to Stellar [link] [comments]

Stellar Lumens HODL alert: 2017 Round up, Partnerships, 2018 Road Map

THIS ARTICLE IS STILL UNDER CONSTRUCTION!!!!!
Stellar Lumens HODL alert: 2017 Round up, Partnerships, Lumens vs. Other Cryptos
Welcome everyone! The future of Stellar Lumens is bright! Today we will look at the accomplishments of Stellar.org in 2017.
. .
2017 Round Up
IBM / Stellar Partnership
• Kik Messenger’s KIN coin to move from Ethereum to Stellar in 2018
• Stellar ATM introduced in Singapore
• Jed McCaleb confirms IBM/Stellar has 30 banks on board (Youtube Video)
Lightyear.io enables forward thinking financial entities to easily join the Stellar ecosystem.
• IBM adds 8 new validators from 8 different countries onto the Stellar network (article)
Forbes calls Stellar “venmo, but on a global scale - and for larger bodies like banks and corporations.”
• Stellar Lumens Is Up 6,300% Since March and Is Aiming for Big Blockchain Partners (article)
• Many new partnerships (listed below) that will be using the Stellar network in 2018.
Binance and GoPax Exchanges Adds Stellar
Ledger Nano S support is now available for Lumens (XLM)
• The next coin to break into the top 10 cryptos (article)
.
.
2017 Partnerships & Financial Institutions
IBM - is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries. IBM partnered with Stellar to help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers.
SatoshiPay - a web payment system that helps online publishers monetize digital assets like news articles, videos, or PDFs in tiny increments without friction.
EXCH.ONE - is a FinTech software company based in Switzerland currently working to integrate its platform and its first technology adopter Euro Exchange Securities UK Ltd. into the Stellar network. This addition to the Stellar network will bring access to currency markets of South and Central America,UK and a number of EU countries.
Novati (ASX:NOV) - is an Australian-based software technology and payment services provider. Novatti is currently working to integrate it’s platform into the Stellar network with the ultimate aim to build a global money transfer solution to provide cross border, cross currency and cross asset payments.
Pundi X - is an Indonesia based fintech company that provides POS device, debit card, multi-currency wallet that empowers individuals to buy and sell cryptocurrency at any physical store in the world. They say "buying cryptocurrency should be as easy as buying a bottled water."
MoneyMatch - is a Malaysia based fintech startup that provides a fully-digital peer-to-peer currency exchange platform for customers to transfer and exchange foreign currencies with complete ease and at great value. The company plans to integrate with the Stellar network and enable pay in and pay out from Malaysia.
Streami - is a Korea based fintech company that offers blockchain enabled cross-border remittance service and recently launched a cryptocurrency exchange. The partnership extends both on the exchange side and remittance operations.
Neoframe - is developing and marketing trading solutions for big brokerage firms in Korea and extends its business to blockchain based applications. Neoframe developed high performance centralized cryptocurrency exchange as well as secure wallet solutions and is working with big financial players. The company is planning to launch a remittance business for ASEAN countries (Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar (Burma), Cambodia, Laos, Brunei) using Stellar.
SureRemit($RMT) - is a Nigeria based global non-cash remittances company. SureRemit leverages the Stellar blockchain platform to connect immigrants abroad directly with merchants that provide the services needed by their loved ones back home. With Remit tokens, immigrants all over the world can access digital shopping vouchers that can be spent on goods and services at accepting merchants wherever they are.
Cowrie Integrated Systems - is a Nigerian based Value Added Service Provider. Cowrie provides services at the intersection between telecoms and finance. Cowrie recently joined the Stellar network to bring novel fintech services to the African market.
Smartlands - is a Stellar-based platform designed to create a new class of low-risk tokens, secured by real, profitable assets in the real-world economy. Smartlands is designed to promote investments in the agricultural sector by allowing investment in individual projects, agricultural companies or indexes of groups of projects. These investments will be fully collateralized by agricultural real estate, other productive assets such as fruit or nut trees or, in some cases, the actual crop.
Klick-Ex - is an award winning regional cross-border payments system delivering financial infrastructure for emerging markets. It has been responsible for dramatic uptake in digital financial services in unbanked regions of the world, and lowering costs for banks, central banks and consumers in low liquidity currencies. Its key presence is in the Pacific and Europe, and it is a founding member of www.APFII.org processing more than 775,000 transactions per second, per billion of population (source).
Mobius - Mobius connects any app, device, and data stream to the blockchain ecosystem. Our simple and easy to use bidirectional API allows non-blockchain developers to easily connect resources to smart contracts and more. The Mobius MVP acts like Stripe for Blockchain by introducing innovative standards for cross-blockchain login, payment, smart contract management, and oracles. The Mobius Team includes David Gobaud, Jed McCaleb (Stellar.org founder), Jackson Palmer (creator of Dogecoin), and Chandler Guo (notorious Bitcoin & blockchain investor).
Chaineum - Chaineum, the first French ICO Boutique, will use the Stellar network for upcoming ICOs. “Chaineum is positioned as the first “ICO Boutique” in France, providing a range of end-to-end services to companies and international start-ups wishing to develop with this new funding mechanism. Chaineum is preparing 8 ICOs by the end of 2017, for European, North American and Asian companies, of which cumulative amount could reach € 200 million." (source)
Poseidon Foundation - Poseidon will simplify the carbon credit market with the creation of an ecosystem built on Stellar.org’s blockchain technology. This technology will prevent double counting of carbon and will be consistent across jurisdictions, making it easier for companies to deliver and measure progress towards their climate targets or other goals such as deforestation-free commitments.
Remitr - Remitr is a global platform for cross border payments, licensed in Canada. Remitr uses the Stellar network for international settlements for businesses as well as other payment partners. Remitr’s own payout network of 63 countries, comprising several currencies, is extended onto the Stellar network.
MSewa Software Solution (MSS) - MSewa Software Solution (MSS) Payments provides a one-stop digital payment service available across the Globe. MSS Payments aims at serving the consumers (Banked, Unbanked and Underbanked) with mobile banking facilities on the move from anywhere by transferring funds in their mobile phone.
PesaChoice - PesaChoice is a leader in international bill payment services for the African diaspora. PesaChoice aims at making international bill payment process easy, seamless, secure, with reasonable and competitive service fees, and up to date technological advances.
SendX - Singapore based SendX, in partnership with Stellar, is the better way to move money worldwide. The SendX team believes that the future of transactions is decentralized and distributed, bringing true equity to everyone across the value chain.
VoguePay - VoguePay, with offices in the United Kingdom and Nigeria, is partnering with Stellar to become the cheapest and most efficient way to send money between the United Kingdom and Nigeria. In the coming months, they expect to expand this service to other selected African countries.
HashCash - Hashcash consultants build financial solutions for banks and financial institutions over blockchain. We leverage the Stellar platform to build products that vastly improve the remittance and payments experience for banks and their customers. Transfers happen lightning fast at a fraction of current rates and operational cost is significantly reduced. HashCash is headquartered in India, with operations across South Asia and the Gulf.
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Stellar Lumens vs Other Cryptocurrencies
Lumens vs. Bitcoin: Jed McCaleb spoke at Distributed Markets in 2017 about the advantages, but more importantly, the disadvantages of Bitcoin. Listen to the talk here. Jed said, “Bitcoin is this awesome innovation. The first thing it does is converts a real world resource, electricity, into a digital asset. So it takes something from the real world and puts it into the digital realm. The second thing it does is provides immutable public record. It’s basically a database that everyone can see but no one change arbitrarily… That’s great, Bitcoin solves the double spin problem [ of proving possession and transmitting volume]… [However, to fix the problems of bitcoin] you might think well maybe we’ll just kind of keep adding [software] to Bitcoin until we get there, but that’s not really the way software works. You want to have the design from the beginning and solve these simple issues. Bitcoin was designed to be a new currency, it wasn’t really designed to be this unifying universal payment network. So that’s what Stellar does. It solves these three remaining issues.”
Lumens vs. Bitcoin #2: According to wired.com, "Bitcoin mining guzzles energy - and it's carbon footprint just keeps growing." Wired says "Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day... The total energy use of this web of hardware is huge—an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year." Because Stellar is based on a consensus algorithm rather than mining, it takes much less energy to run the Stellar network. The Poseidon Foundation decided to build their platform on Stellar rather than Ethereum or Bitcoin because of this (twitter source).
Lumens ICO tokens vs. Ethereum ICO tokens: According to Stellar.org, "traditionally, ICO tokens have been issued on the Ethereum network in the form of ERC20 tokens. ERC20 tokens are easy to issue and are infinitely customizable using Ethereum’s smart contracting language. However, recent events have highlighted and exacerbated some weaknesses of the network, including slow transaction processing times for the network during ICOs and increasingly expensive gas prices (by fiat standards) for transactions and smart contract execution. Moreover, many organizations require only basic tokens; they adopt the risk of Ethereum’s Turing complete programming language without taking advantage of many of its benefits."
"While Ethereum has the most expressive programming capabilities, we believe Stellar is the best choice for ICOs that do not require complex smart contracts. Stellar’s primary goal is to facilitate issuing and trading tokens, especially those tied to legal commitments by known organizations, such as claims on real-world assets or fiat currency."
Stellar vs. Ethereum #2: The median transaction time on Stellar is 5 seconds, compared to approximately 3.5 minutes on Ethereum (source). Stellar has a negligible transaction fee (.00001 XLM ~= $0.0000002) with no gas fee for computation, while depending on the complexity of the computation, the median cost for a transfer on the Ethereum network is $0.094. Security: While both Stellar and Ethereum run on a decentralized network, the Stellar network has fewer security pitfalls. Stellar uses atomic transactions comprised of simple, declarative operations while Ethereum uses turing complete programming capabilities which produces less auditable code and greater risk of exploitable vulnerabilities (source). Recently, a security flaw in the Ethereum network froze millions of dollars. According to Mobius ariticle written by David Gobaud, "On November 6, 2017, Github user deveps199 'accidentally' triggered a bug in Parity, a popular Ethereum mult-sig wallet, that froze more than $152 million in Ether across 151 addresses. The bug impacted several token sales including Polkadot, which has had ~$98 million out of its recent $145 million sale frozen."
"Mobius had none of its ongoing pre-sale Ether frozen because we do not trust Ethereum’s Smart Contract based multi-sig wallets given the vast Turing complete attack surface and did not use one. Security broadly is one of the main reasons the MOBI token that powers the DApp Store is a Stellar Protocol token and not an Ethereum token."
Lumens vs. Ripple: According to Wall Street Bitcoin Exchange, "Many investors like to compare the company [Stellar] to Ripple, and there are a lot of similarities, being that some of the founders worked on the Ripple team. In what can now be looked at as another blockchain development drama that plays out on chat boards and in interviews all across the globe. Stellar declared they fixed Ripple’s problems with their hard fork, however, Ripple has failed to admit to any of the flaws in its design that the Stellar team has pointed out." The article concludes by saying, "We Choose XLM Over XRP For 2018. That is why we are going with Stellar Lumens over Ripple in our portfolio for the rest of 2017 and 2018. After holding Ripple for a long time this year, it just never seems to make the big break like other names with bigger market caps like Bitcoin Cash, Dash, and Litecoin have. While we are holding on most all our larger market caps, we feel that Stellar Lumens will be one of the break out coins for 2018."
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Conclusion
The stellar.org team is doing an amazing job making partnerships and pioneering the use of blockchain technology for various types of transactions. What we are seeing is a new technology that can actually be used to solve real-world problems. As a community, we need to continue supporting Stellar and we will quickly see it power transactions across the world. What are your thoughts about Stellar? What do you see in the future of Stellar? Any important news you want to share? Comment below.
submitted by chargingerman to u/chargingerman [link] [comments]

[uncensored-r/btc] Okay, this Ripple shit is ridiculous. We need to educate people before we have PayPal 2.0 at the ...

The following post by mushner is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ btc/comments/7mykhw
The original post's content was as follows:
I have to admit, I did not see this coming. But it makes kind of sense, splinter the Bitcoin community into BTC vs. BCH while you work on your banker coin and in the most opportune moment when the winner is not clear and both are weakened, swoosh into first place and declare yourself the best "cryptocurrency".
We seriously need to educate people of what this "coin" is as I notice even people in here (myself included) do not have the complete picture, let alone an average Joe and Jane looking at CMC.
So from what I can gather, these are the problems with Ripple:
  • no blockchain, therefore it's not even a cryptocurrency. It's a network of trusted nodes (?) (who selects those trusted nodes and how?) exchanging IOU notes (Edit: yup, it's essentially a network of trusted servers, not a cryptocurrency!)
  • huge premine of 70% of XRP tokens which are slowly unlocked (what is the schedule and when does it end?)
  • the actual Ripple product not using XRP tokens (is this so? I've seen conflicting information on this) Edit: It uses XRP as "anti-spam" and as a native "in-between" value token.
  • centralized (to what degree? Can Ripple confiscate/print tokens, revoke your "account", censor transactions? What can they actually do?)
  • what is the security and risks of Ripple?
  • more? Please add more information in the comments, with verifiable sources if possible
Please link people capable of making an article/video about Ripple here, using the resources that we pool together.
Edit:
Ripple implemented this nifty feature called "Balance Freeze" which allows gateways (nodes essentially) to freeze your funds (enough said?) they already even used this "feature" to freeze ~$million dollars
Edit2:
So, so much for "settled in seconds" and immutability, they can also "simply ask the gateways to freeze or even reverse the funds".
Also:
Ripple introduced two different methods for the “freeze protocol extension.” The first method is known as the “global freeze” and allows gateways to freeze all of their issued funds. The second allows the gateways to freeze funds of a particular user, while the frozen funds are sent back to the gateway.
Edit3:
It also requires verified user identification in order to use the network
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Stellar Q&A with Jed McCaleb  Blockchain Week NYC 2019 ... RIPPLE NEWS Jed McCaleb... about RIPPLE & STELLAR - YouTube Stellar, Ripple, and Jed McCaleb. The Good, The Bad, and The Ugly. Ripple Sent 100 Million XRP to Jed McCaleb EB128 – Jed Mccaleb: Stellar And The Vision Of An Open Financial System

Jed McCaleb and Michael Terpin discuss the Jed McCaleb's journey through blockchain and Stellar. Author. Before Bitcoin, McCaleb thought there was no solution to the consensus problem Bitcoin set ... A months-long legal dispute involving distributed ledger tech startup Ripple and its co-founder Jed McCaleb has come to an end. News Learn Videos Podcasts Research. Trending. Bitcoin. UK-Listed ... All Bitcoin News; Bitcoin on Way for Weekly Loss on Fading Stimulus Hopes. Bitcoin slipped on Friday as it looked sure to close the week at a loss in the remaining three days of trading. The benchmark cryptocurrency was down $230, or 2 percent, to $11,279 per... Yashu Gola 9 hours ago; Here’s Why One Analyst Expects Bitcoin to Surge Towards... Bitcoin and the entire crypto market aren’t ... A publication in Medium speculates on the cause behind the price depreciation that XRP has seen over the past 3 years. Written by a user who only identified himself as CryptoWhalle, the publication theorizes that the downward trend from XRP is a consequence of sales by Ripple‘s co-founder Jed McCaleb.. As reported by CNF, McCaleb was Ripple’s CTO until 2013. Jed McCaleb, the co-founder of major cryptocurrencies Stellar and Ripple, is thought to be selling off his Ripple tokens (XRP) every day, earning some USD 100,000 now that XRP is in the midst of a huge rally. When Ripple was founded, McCaleb received XRP 9 billion. In 2014, he announced his intentions to dump all of his XRP on the open market; this caused XRP’s price to crash 40% in 24 hours ...

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Stellar Q&A with Jed McCaleb Blockchain Week NYC 2019 ...

Trading Bitcoin - Money Printing Still Making ALL ASSETS RISE Tone Vays 1,032 watching Live now CFCon USA 2018 / Jed McCaleb & Adam Ludwin / Issuing assets on blockchain - Duration: 16:55. CFCon USA 2018 / Jed McCaleb & Adam Ludwin / Issuing assets on blockchain - Duration: 16:55. CfC St. Moritz 2,578 views. 16:55 . Ripple & LARGEST XRP/ODL Corridor Move 69.7 MLN XRP JPMorgan: BTC ... On May 14, the Stellar Development Foundation hosted an "Evening of Stellar and Math" at the National Museum of Mathematics. During this event, Stellar Found... #ripple#xrp#rprediction#MGBcrypto ----- ⚡If you want to buy Bitcoin, Litecoin, BitcoinCash, Ethereum and Rip... When Jed McCaleb discovered Bitcoin, there didn't even exist an online marketplace to trade the cryptocurrency yet. The experienced founder who had earlier started file sharing site eDonkey, acted ...

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