Stripe launches into the crypto-currency game with launch of Stellar.



It's a complete clone of the Ripple network, including a clone of all 100M Ripples.

Since these networks aren't mined, no PoW, and you can obviously clone them this easily, I wouldn't give you $1 for every Stellar & Ripple in existence.

It's network is of course worth something in Stripe's hands as a way to avoid swift network fees between Stripe clients and customers... But bitcoin can do that too, and actually be secure while doing it.

We'll see if they can implement it well within their operations, I guess that's possible, but the Stellar unit of currency has Zero chance of becoming a useful unit of currency at all. Eventually it won't even be very useful inside the Stellar network, because a hard limit of 100M means that once they're worth less than a dogecoin for instance, they can't hold very much value in totality, so the network can't send around very much value. Kinda sad, but that's the game they chose to play.
 
You can at least use the source and/or quote tags here and copy the article instead of flat out linking it.

Trust me, we give zero fucks about what Google prefers or not anymore. They clearly hate us.. and we hate them right back. One less click is the lazy man's way of participating without leaving (we don't make money on cpm's either, so whether you stick around or not is really up to you.... PLEASE GOD DON'T LEAVE HERE!! -- will never be said by me..)

The more you know... (too lazy to pull the jpg)
 
lukep said:
the Stellar unit of currency has Zero chance of becoming a useful unit of currency at all.
Click to expand...

They're not trying to become a currency, and they're up-front that. Without stating it, they're basically looking to compete with the SWIFT network in modern times, and I think there's a chance they will win. Whereas SWIFT is bank-to-bank, they want to compete with that by creating a new global financial network that's user-to-user. Pretty fucken smart move on their part, if you ask me.

Again, go look at their team. Standford, MIT, CMU, Stripe, Square, and tons of others. This is a top-tier team that is very capable.
 
Kiopa_Matt said:
Again, go look at their team. Standford, MIT, CMU, Stripe, Square, and tons of others. This is a top-tier team that is very capable.
Click to expand...

Doesn't matter who their team is or even if they are fully funded by the new world order. When has lukep ever spoken with absolute certainty about something and been wrong? I can't think of 100 times.
 
Kiopa_Matt said:
They're not trying to become a currency, and they're up-front that.
Click to expand...
Yet their front page says their unit of currency is called "the Stellar."

I'm not accusing them of trying to overtake bitcoin... I'm accusing them of not understanding the ramifications of creating a currency, which they clearly have and admit to.

Networks that move currency live by the sword & die by the sword that is their native currency. That goes for Swift, ripple, and bitcoin too. Stellar will be no different.


Kiopa_Matt said:
Without stating it, they're basically looking to compete with the SWIFT network in modern times,
Click to expand...
I can agree that this is their intention, and they can get launched and perhaps a little popular attempting to do this... But that doesn't mean it will work.

Case in point: A Ripple right now trades for ~104,000 to the bitcoin. It has a monetary value, as would the Stellar, because it is the exact same thing as a ripple and behaves the exact same way.



Kiopa_Matt said:
Again, go look at their team. Standford, MIT, CMU, Stripe, Square, and tons of others. This is a top-tier team that is very capable.
Click to expand...
Their team is great; I have no reason to argue about their ability to code in any way... But their leadership certainly doesn't seem to understand that as long as they issue a currency (which payment networks have to use) then their entire business depends on that currency to keep existing, and not become so small that it hinders their ability to send much value over the wire.

No amount of genius code can get around that.
 
Ok, decision made. If you're completely against Stellar, then I'm all in!

Trading in my BTC for Stellar now.

j/k, btw... :)

EDIT: If they pull this off, it's fucken MASSIVE! Forex markets will never again be the same.
 
Jon said:
You can at least use the source and/or quote tags here and copy the article instead of flat out linking it.

Trust me, we give zero fucks about what Google prefers or not anymore. They clearly hate us.. and we hate them right back. One less click is the lazy man's way of participating without leaving (we don't make money on cpm's either, so whether you stick around or not is really up to you.... PLEASE GOD DON'T LEAVE HERE!! -- will never be said by me..)

The more you know... (too lazy to pull the jpg)
Click to expand...

Dat manual review
 
I think it's a cool idea. I think some people will do extremely well with it, probably the ones who think about it without bias ;)
 
Just purchased a BTC worth of stellar. Can't see much of a downside to it if these big names will be pushing it that much.
 
Alright, listen up bitfolk; Mark your calendars for the 18th of this month.

Something kinda big will be announced that day and I for one am looking for a way to scrape up a few more coins before then. Here are some basics in the form of a teaser:

Let The Bit Drop

It's basically a nationwide bitcoin airdrop in a Caribbean country... A real effort to get bitcoin in everyone's hands with lots of education available and with the blessing of the government!

There are far more people behind this than just the sponsors listed. I have spoken with one in depth about it and they are very far along in their talks with top government officials in that country... I can't tell you which country yet, but it's one that is well wired with 3G phone connectivity and cable modems, and I'm told that the government is butthurt that they missed out on the gambling boom and doesn't want to miss the bitcoin boom.

I'll let you know which country as soon as I can, but I doublt before the 18th... It could hurt the negotiations to spill that detail I'm told.

Don't say I never gave you anything!
 
Kiopa_Matt said:
Wow, what a retarded idea, for a multitude of reasons.
Click to expand...
Let's hear 'em.

The two threats I know of are of course lack of education and the possibility that the government is lying to them about how much help they're willing to give.

The former is being addressed by lots of people getting ready to go down there and personally educate the locals, including merchants. The latter is unlikely but I don't see why they'd waste their time, this country isn't as broke as the US is.
 
lukep said:
Let's hear 'em.
Click to expand...

I can't say for certainty. If wanted, PM me the country -- I promise I won't leak it. If it's a poorer country / island, then it's a retarded idea. It's basically them convincing some investors to throw a party in the Carribean for them, but that's about it.
 
Stellar does have a kick ass team.
Also they are doing away with the antiquated proof of work model that makes BTC an arms race for all minted coins and consensus.
Eventually it will be so competitive centralization will came in the form of a few large mining pools, especially in the year 2021? Oops, I love Satoshi but I think he let it slip there. Who is going to mine for the already dwindling transactions fees compared to the hash rate?

I can see Stellar doing huge things across a broad range if transaction activity.
LukeP you could have LukeP bitcoins and trade them for BTC & Galacoin.

lukep said:
Yet their front page says their unit of currency is called "the Stellar."
But their leadership certainly doesn't seem to understand that as long as they issue a currency (which payment networks have to use) then their entire business depends on that currency to keep existing, and not become so small that it hinders their ability to send much value over the wire.
Click to expand...

> LukeP you know I like the debate with you on bitcoin and break your scroogetoshi duckamoto balls.

LukeP "then their entire business depends on that currency to keep existing, and not become so small that it hinders their ability to send much value over the wire."
Are you saying that Stellar should just be a normal exchange and it would be better? Can you explain more?
If you are saying the system would work as long as the native currency had enough value & volume? If so doesn't BTC do it?

lukep said:
No amount of genius code can get around that.
Click to expand...

> Jed is a genius and could be the best dev in crypto.
 
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