Stellar

[John999]

Stellar added on bittrex 

[1679590106]

1679590106

[FeelTheBeat]

Finally some more news from stellar. It is getting pretty calm in this thread.

[coins101]

Finally some more news from stellar. It is getting pretty calm in this thread.

News indeed



http://www.coindesk.com/bitstamp-court-1-million-dispute-ripple-jed-mccaleb/

[dhimasnk]

Stellar.
I had a headache thinking about stellar, I buy at the current price of 2250 satoshi say think the price will go up, but it is now the price dropped to about 1050 satoshi.

[klintay]

Stellar.
I had a headache thinking about stellar, I buy at the current price of 2250 satoshi say think the price will go up, but it is now the price dropped to about 1050 satoshi.

Yeah I have just dumped my holdings. Jed is an asshole, basically sounds like that the public auction was being setup so he could buy them all himself. Then pump and dump at a later date. I think I will wait for now until the price drops another 50%

[1ofthemany]

Is Stellar dead yet? I heard that Jed secretly bought almost every STR from the auction and now he got caught

[John999]

Stellar.
I had a headache thinking about stellar, I buy at the current price of 2250 satoshi say think the price will go up, but it is now the price dropped to about 1050 satoshi.

Yeah I have just dumped my holdings. Jed is an asshole, basically sounds like that the public auction was being setup so he could buy them all himself. Then pump and dump at a later date. I think I will wait for now until the price drops another 50%

Yes. Buy STR at the auction, release the new consensus, pump, and dump everything on noobs. Very disappointing. Ripple and Stellar seem to only exist to empty the pockets of their holders. I will still keep an eye on Stellar though but I won't buy any unless the price drops by at least 50%.

[tokeweed]

Stellar.
I had a headache thinking about stellar, I buy at the current price of 2250 satoshi say think the price will go up, but it is now the price dropped to about 1050 satoshi.

Yeah I have just dumped my holdings. Jed is an asshole, basically sounds like that the public auction was being setup so he could buy them all himself. Then pump and dump at a later date. I think I will wait for now until the price drops another 50%

Yes. Buy STR at the auction, release the new consensus, pump, and dump everything on noobs. Very disappointing. Ripple and Stellar seem to only exist to empty the pockets of their holders. I will still keep an eye on Stellar though but I won't buy any unless the price drops by at least 50%.

But what if STR surges up 300% without dropping? 

[John999]

Stellar.
I had a headache thinking about stellar, I buy at the current price of 2250 satoshi say think the price will go up, but it is now the price dropped to about 1050 satoshi.

Yeah I have just dumped my holdings. Jed is an asshole, basically sounds like that the public auction was being setup so he could buy them all himself. Then pump and dump at a later date. I think I will wait for now until the price drops another 50%

Yes. Buy STR at the auction, release the new consensus, pump, and dump everything on noobs. Very disappointing. Ripple and Stellar seem to only exist to empty the pockets of their holders. I will still keep an eye on Stellar though but I won't buy any unless the price drops by at least 50%.

But what if STR surges up 300% without dropping? 

Then I will stay out for good. Don't really like markets where a handful of individuals can play god at will.

[LuckyBtc]

Stellar.
I had a headache thinking about stellar, I buy at the current price of 2250 satoshi say think the price will go up, but it is now the price dropped to about 1050 satoshi.

Yeah I have just dumped my holdings. Jed is an asshole, basically sounds like that the public auction was being setup so he could buy them all himself. Then pump and dump at a later date. I think I will wait for now until the price drops another 50%

Yes. Buy STR at the auction, release the new consensus, pump, and dump everything on noobs. Very disappointing. Ripple and Stellar seem to only exist to empty the pockets of their holders. I will still keep an eye on Stellar though but I won't buy any unless the price drops by at least 50%.

But what if STR surges up 300% without dropping?  

I would sell STR and buy at lower price. 300% increase is not going to happen I guess, Lots of people waiting to dump when price goes up.

[HostFat]

Stellar has build a new consensus algorithm:
https://www.stellar.org/galaxy/

It seems that it isn't any more a fork of ripple.

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

[HostFat]

Interesting discussion between gmaxwell and David Mazières:
https://news.ycombinator.com/item?id=9341687

[tokeweed]

Stellar.
I had a headache thinking about stellar, I buy at the current price of 2250 satoshi say think the price will go up, but it is now the price dropped to about 1050 satoshi.

Yeah I have just dumped my holdings. Jed is an asshole, basically sounds like that the public auction was being setup so he could buy them all himself. Then pump and dump at a later date. I think I will wait for now until the price drops another 50%

Yes. Buy STR at the auction, release the new consensus, pump, and dump everything on noobs. Very disappointing. Ripple and Stellar seem to only exist to empty the pockets of their holders. I will still keep an eye on Stellar though but I won't buy any unless the price drops by at least 50%.

But what if STR surges up 300% without dropping?  

I would sell STR and buy at lower price. 300% increase is not going to happen I guess, Lots of people waiting to dump when price goes up.

Anything can happen.  Even shitcoins could go up more than 300%. 

What was that?  STR a shitcoin???

Then it could go up 300% then... 

[klintay]

Stellar has build a new consensus algorithm:
https://www.stellar.org/galaxy/

It seems that it isn't any more a fork of ripple.

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

With his algorithm—dubbed federated byzantine agreement—Mazières builds trust in a very different way. In short, he knits together a large trusted network from smaller trusted networks. In joining the network, you connect to people you know and trust. They, in turn, connect to machines they trust. And so on. If the system can show that none of the small quorums are separated from the rest, then we can all trust the larger whole. “As an individual, I choose users that I can trust and those users do the same,” Boneh explains. “If we can achieve that combinatorial property, we can achieve consensus.”

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

Sounds like bullshit!

[tokeweed]

Stellar has build a new consensus algorithm:
https://www.stellar.org/galaxy/

It seems that it isn't any more a fork of ripple.

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

With his algorithm—dubbed federated byzantine agreement—Mazières builds trust in a very different way. In short, he knits together a large trusted network from smaller trusted networks. In joining the network, you connect to people you know and trust. They, in turn, connect to machines they trust. And so on. If the system can show that none of the small quorums are separated from the rest, then we can all trust the larger whole. “As an individual, I choose users that I can trust and those users do the same,” Boneh explains. “If we can achieve that combinatorial property, we can achieve consensus.”

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

Sounds like bullshit!

Yeah...  We'll see.  The new protocol goes online soon.

[klintay]

Stellar has build a new consensus algorithm:
https://www.stellar.org/galaxy/

It seems that it isn't any more a fork of ripple.

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

With his algorithm—dubbed federated byzantine agreement—Mazières builds trust in a very different way. In short, he knits together a large trusted network from smaller trusted networks. In joining the network, you connect to people you know and trust. They, in turn, connect to machines they trust. And so on. If the system can show that none of the small quorums are separated from the rest, then we can all trust the larger whole. “As an individual, I choose users that I can trust and those users do the same,” Boneh explains. “If we can achieve that combinatorial property, we can achieve consensus.”

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

Sounds like bullshit!

Yeah...  We'll see.  The new protocol goes online soon.

When exactly?

[gmaxwell]

It's the same security model that Ripple was initially advertised to have, but which didn't actually work in practice. The mechanism and conditions appear to be slightly different, and the requirements actually (somewhat) defined, but the fundamental concern remains.

I pointed out back in 2013 that the result of the OpenCoin Ripple model would either result in centralization or a total failure of consensus; and pushed them to formalize their requirements and to specify a procedure that might actually cause them to be met.  They didn't. When Ripple was deployed the outcome was centralization, and when they repeated the experiment with Stellar the system spontaneously failed.

Just as with ripple back in 2013 the new Stellar proposal is unable to answer the basic questions about how we can know or guarantee anything about the security of the system.  Mazieres and Vitalik describe it as leaving it up to the market and think it will work out. I think it would better be described as leaving security up to chance. And the chances don't look good: leaving it up to the users to ensure a safe and decentralized topology has already failed in practice with a highly similar system _twice_.

I pay attention to these things because I hope to see useful things invented and deployed (for their own sake, and so I can use them in my own project); I also pay attention because I'm concerned about blow-back. _Currently_ people are free to do what they want, here there is tremendous information asymmetry and a host of incentives which are at odds with the public interest (including the fact that the few people like me who can clearly see the problems, have every incentive to say nothing at all; much less enough to be anything but a reed in the wind against a massively funded PR effort); and these efforts raise problems across several domains of law.  The result may well be some crazy efforts to regulate the space as a result, which would harm everyone.

[e-coinomist]

It's the same security model that Ripple was initially advertised to have, but which didn't actually work in practice. The mechanism and conditions appear to be slightly different, and the requirements actually (somewhat) defined, but the fundamental concern remains.

I pointed out back in 2013 that the result of the OpenCoin Ripple model would either result in centralization or a total failure of consensus; and pushed them to formalize their requirements and to specify a procedure that might actually cause them to be met.  They didn't. When Ripple was deployed the outcome was centralization, and when they repeated the experiment with Stellar the system spontaneously failed.

Just as with ripple back in 2013 the new Stellar proposal is unable to answer the basic questions about how we can know or guarantee anything about the security of the system.  Mazieres and Vitalik describe it as leaving it up to the market and think it will work out. I think it would better be described as leaving security up to chance. And the chances don't look good: leaving it up to the users to ensure a safe and decentralized topology has already failed in practice with a highly similar system _twice_.

I pay attention to these things because I hope to see useful things invented and deployed (for their own sake, and so I can use them in my own project); I also pay attention because I'm concerned about blow-back. _Currently_ people are free to do what they want, here there is tremendous information asymmetry and a host of incentives which are at odds with the public interest (including the fact that the few people like me who can clearly see the problems, have every incentive to say nothing at all; much less enough to be anything but a reed in the wind against a massively funded PR effort); and these efforts raise problems across several domains of law.  The result may well be some crazy efforts to regulate the space as a result, which would harm everyone.

It does! I'm out...

[poncho32]

Stellar has build a new consensus algorithm:
https://www.stellar.org/galaxy/

It seems that it isn't any more a fork of ripple.

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

With his algorithm—dubbed federated byzantine agreement—Mazières builds trust in a very different way. In short, he knits together a large trusted network from smaller trusted networks. In joining the network, you connect to people you know and trust. They, in turn, connect to machines they trust. And so on. If the system can show that none of the small quorums are separated from the rest, then we can all trust the larger whole. “As an individual, I choose users that I can trust and those users do the same,” Boneh explains. “If we can achieve that combinatorial property, we can achieve consensus.”

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

Sounds like bullshit!

Yeah...  We'll see.  The new protocol goes online soon.

Just because a professor built it does not mean it will work well. Professor Bitcorn is a professor but his prediction of bitcoin's price was hopelessly wrong.

[tokeweed]

Stellar has build a new consensus algorithm:
https://www.stellar.org/galaxy/

It seems that it isn't any more a fork of ripple.

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

With his algorithm—dubbed federated byzantine agreement—Mazières builds trust in a very different way. In short, he knits together a large trusted network from smaller trusted networks. In joining the network, you connect to people you know and trust. They, in turn, connect to machines they trust. And so on. If the system can show that none of the small quorums are separated from the rest, then we can all trust the larger whole. “As an individual, I choose users that I can trust and those users do the same,” Boneh explains. “If we can achieve that combinatorial property, we can achieve consensus.”

http://www.wired.com/2015/04/stanford-prof-builds-algorithm-internet-money/

Sounds like bullshit!

Yeah...  We'll see.  The new protocol goes online soon.

Just because a professor built it does not mean it will work well. Professor Bitcorn is a professor but his prediction of bitcoin's price was hopelessly wrong.

Again, we'll see...  I am open to both possibilities.  If it works, good.  If not, oh well...

But it doesn't mean it won't work just because some random internet post said so.

And who's Professor Bitcorn?  rofl!