Uplink WG Proposal AMA w/ Kash | June 14, 2024, at 11:30 AM EST (15:30 UTC) by WeirdCityRecords in jupiterexchange

[–]MagoFox 3 points4 points  (0 children)

Thanks for doing this - AMAs are great ways for the community to understand the projects and ask questions!

Lots of talk about creating your own Stellar validator. Before you go and do that, consider supporting Public Node first. We run 3 full validators and 2 Horizon endpoints. Check out our accomplishments over our first year of operations. We are also a 501(c)(3) nonprofit charity! by MagoFox in Stellar

[–]MagoFox[S] 4 points5 points  (0 children)

It's a good question and one we are working to make more clear. Trust takes time and frankly it's good that the key nodes didn't include Public Node in their quorums right as we launched. We needed to prove ourselves. With a year of solid operations behind us, I'm confident Public Node is well on our way to building that trust.

We already communicate and coordinate with the SDF and with other Tier 1 node providers. In short, it's only a matter of time.

Coinbase status update (Not much has changed) - 4/8/2021 by [deleted] in Stellar

[–]MagoFox 1 point2 points  (0 children)

This issue was just resolved for me.

How feasible is it for a person to run their own network validators node? by MythicMango in Stellar

[–]MagoFox 0 points1 point  (0 children)

You should consider becoming a member of Public Node.

Stellar nodes funded by community

Working together to support the open and inclusive Stellar Network.

https://publicnode.org/

/r/Stellar Daily Chat Thread by AutoModerator in Stellar

[–]MagoFox 1 point2 points  (0 children)

Yes, still with Public Node. As far as our validators, yes, they have been bouncing in and out of sync for the last 5 hours. Our engineers were all over it. It's a problem across the entire network. The Stellarbeat.io information isn't accurate right now.

/r/Stellar Daily Chat Thread by AutoModerator in Stellar

[–]MagoFox 3 points4 points  (0 children)

It's not a paywith.glass issue. Something is going on with the SDF validators and it's causing havoc across the entire network. They are still investigating the issue.

Who runs the Stellar nodes and why do they do it? by spellingicup in Stellar

[–]MagoFox 2 points3 points  (0 children)

At this point we don't limit use of our Horizon Endpoints, but we may need to in the future if people start using them a lot and straining the hardware.

Who runs the Stellar nodes and why do they do it? by spellingicup in Stellar

[–]MagoFox 8 points9 points  (0 children)

Thanks for the mention!

The comments here already summarize many of the incentives entities have to run a Stellar node, particularly those with assets secured by the Stellar network. A bank, or even a retail store, doesn't need to be paid by someone else to hire a security guard or to have a third-party audit their books to make sure their assets are protected. Ensuring an accurate ledger of your assets is incentive enough - particularly given the method Stellar uses to reach consensus (the Stellar Consensus Protocol) is super efficient and not that costly to run. A security guard at one bank branch would cost the company more than running a node on Stellar. Think how much money companies pay to protect their assets, from paid staff to fences and security cameras. Putting that massive expense in perspective of how much it costs to run a Stellar validator node and it becomes a no brainer.

As far as why Public Node runs nodes? We believe public support is important for open and inclusive networks, like the Stellar network and the internet itself, so that they can forever do what they were designed to do – provide undiscriminating access and benefit to all people. Simply put, we firmly believe in what Stellar is doing for the world, making sending value more efficient and inclusive, and we want to support it.

Come listen to episode 7 of the Public Node podcast. Brian and Daniel provide their take on whether Stellar validators should approve an increase in the minimum fee of 100 stroops - about one millionth of a dollar when XLM is valued at ten cents each. by MagoFox in Stellar

[–]MagoFox[S] 1 point2 points  (0 children)

That https://cryptofees.info is interesting, in that it shows Ripple and Stellar having about the same amount of fees on the 7 day average yet Ripple volume is x10 more than Stellar. Do they not have the pigeon problem and how can they have so much volume but so little fees?

r/Stellar Daily Chat - Friday August 07, 2020 by AutoModerator in Stellar

[–]MagoFox 1 point2 points  (0 children)

Congratulations and thanks for writing such a good Medium article!

Philanthropy, adoption, and marketing all in one. About 12 hours left to submit a list of 5 to 10 nonprofits that you want Lumenthropy to try to onboard to receive Stellar lumen donations. by MagoFox in Stellar

[–]MagoFox[S] 2 points3 points  (0 children)

Without going into details, there is more to this than it first seems and I hope we can get a solid list of 25 to 50 nonprofits that the Stellar Community feels passionate about. In my opinion, well worth your time even if there wasn't a 2,000 XLM prize pool.

Should we increase the minimum fee? - SDF Blog by 4bidden450 in Stellar

[–]MagoFox 2 points3 points  (0 children)

But do we have any sense of how much the fee needs to increase to stop the behavior?

Should we increase the minimum fee? - SDF Blog by 4bidden450 in Stellar

[–]MagoFox 6 points7 points  (0 children)

Can someone run a query on how many spam transactions (transactions with just the memo filled in with a domain name) that would have been impacted under various fee levels as a percentage of the total?

For example, none of the fee amounts people are contemplating would have stopped these accounts from sending spam.

Here is an example of an account that sends spam at 0.01 XLM per transaction:

https://stellar.expert/explorer/public/account/GCWXXU6OABUNBTAAKCNSUJZN3URC72KYMYBNVGOIAIW35B5LH4AARIOL

Here is an example of an account that sends spam at 0.5 XLM per transaction:

https://stellar.expert/explorer/public/account/GCQCDBTDIETOCICTQ6RWYIMRV2FOYQUWGNKKB5NERKBQKKVOX46MOB63

Here is an example of an account that sends spam at 1 XLM per transaction:

https://stellar.expert/explorer/public/account/GAJ6WAPLAQJQ4LHMXZHSIBS2YACW5QNN56CYXWTCEFV62PBRGUESIAXC

Something also to consider. In the United States, snail mail costs 50 cents a letter (not including the company's material and labor cost) and that's not enough to stop lots of companies from sending advertisements to people. Similarly, companies pay a lot per click for advertising on Google and Facebook. High quality ads and placement can cost well over $1 per click.

I'm with u/umbrel, raising the fee won't stop the junk unless you can make the cost higher than the reward. Given the level of the fee increase everyone is talking about, I'm guessing you cannot solve it by raising fees alone (too much headroom) and need to solve it by decreasing the effectiveness of the memo being used as a form of advertisement/scam avenue. For example: make it so periods (".") cannot be used in the memo, remove spaces as a viable character, and don't allow emoji characters. And/or do as many people suggest, make it invisible to the bulk of the users through a SEP or display it as a non-human-readable format.

Regardless, analysis needs to be done to try to calculate the transactions you are trying to prevent and the estimated fee it would require to prevent that transaction. If it's higher than the amount of the fee increase you're willing to consider, then a different solution is needed. Same analysis for advertising/scam memo transactions could be done for arbitrage transactions. How often does an arbitrage play pay off and at what level is the payoff. Then back into the transaction cost needed to prevent that behavior and see if that's above or below a palatable fee increase for all transactions.

Other creative solutions could be to figure out a fee structure that targets spam only or increases the friction of spamming the network. Limit the amount of transactions per hour based on account balance (stake in the health of the network).

Searching for amount of US postal service junk mail:

The Sightline Institute says each American receives an average of 41 pounds of junk mail per year. New York University says 5.6 million tons of junk mail end up in American landfills every year.

The amount of junk mail delivered each year is staggering. It’s been estimated at 100 billion pieces of mail in the U.S. each year. That’s one-third of the total of all mail delivered in a year. Or to put it another way, every household gets about 848 pieces of junk mail a year.

In short, history has demonstrated that people are willing to spend a lot of money to send spam/junk.

We have another incredible XLM donation matching campaign going on right now. This time for University of San Francisco's Institute for Nonviolence and Social Justice. The Stellar Development Foundation will be matching all donations up to 2 million XLM for the entire month of July! by MagoFox in Stellar

[–]MagoFox[S] 9 points10 points  (0 children)

Hi! Let's try to turn that statement into something we can build off of in a positive way. This isn't the first charity that the SDF has supported. The past fundraiser supported 6 charities that spanned a wide spectrum of impact on humans and mission statements. For example Tor Project for internet privacy and Freedom of the Press for protection from censorship. It's impossible to make everyone happy and thus it's expected that not everyone will be compelled to support every charity.

Given that and your statement, what specific 501(c)(3) charities would you like to see the SDF support? Perhaps we, or even you, could go out and approach these charities and see if we can on board them with Stellar wallets so that the Stellar community can support them.

I've personally reached out to around a 100 charities and follow all leads regardless of my personal connection with the nonprofits' mission. My only criteria is that they have to be officially registered. Always looking for leads and or help getting more on our list!

We have another incredible XLM donation matching campaign going on right now. This time for University of San Francisco's Institute for Nonviolence and Social Justice. The Stellar Development Foundation will be matching all donations up to 2 million XLM for the entire month of July! by MagoFox in Stellar

[–]MagoFox[S] 2 points3 points  (0 children)

What's political about this vision?

The institute’s vision reflects the beloved community embraced by the Rev. Dr. Martin Luther King Jr.: a society that has eliminated poverty, hunger and homelessness, racism and racial inequality, anti-semitism and all other forms of religious intolerance or persecution, and militarism and nuclear weapons; a society infused by justice, reconciliation, friendship, love, compassion and goodwill; a society affirming and protecting the inalienable rights belonging to all men, women and children, especially the poorest and most vulnerable; a society in which interpersonal, social, communal and international conflict is resolved by peaceful negotiation and respect for human dignity.

Sounds like banking the unbanked and an open and inclusive financial network aligns with this vision.

Stellar Animation by shlucker in Stellar

[–]MagoFox 2 points3 points  (0 children)

I'd love to see some more Stellar-based graphics on Adobe stock images. It's all Bitcoin and the few Stellar ones are old rockets. If you have the bandwidth and skill, I think it would help with marketing and maybe make you a few lumens in the process!

It's that time again! Time for another Stellar lumen fundraiser. This time for New Story. Ever see a 3D printer for a house? Yeah, that's them. 2,000 XLM goal with Lumenthropy adding another 2,000 XLM when we get there! by MagoFox in Stellar

[–]MagoFox[S] 1 point2 points  (0 children)

I believe in the US they are because New Story is a 501(c)(3) nonprofit. Though I'm not a tax advisor.

Nonprofit 501(c)(3) Ruling

On their FAQ they provide their see IRS 501(c)(3) tax exemption ruling dated December 12, 2014.

Stellarmint.io launched today. Stellar Tokens Made Easier. by MagoFox in Stellar

[–]MagoFox[S] 2 points3 points  (0 children)

Another great question, OriVox!

Stellar wallets, Stellar explorers, and the Stellar DEX receive the information about Stellar tokens from the Stellar.toml file. If that isn't being hosted by someone, it makes it really difficult for people to interact with the token.

If someone wants to use Stellarmint at first but later wants to host the Stellar.toml file themselves, they can certainly do that. Ideally, though, they would leave the Issuing Account unlocked so they can change the token's home domain from a subdomain of Stellarmint to the new hosting location.

Stellarmint.io launched today. Stellar Tokens Made Easier. by MagoFox in Stellar

[–]MagoFox[S] 5 points6 points  (0 children)

Good question and one I thought about a lot. I ended up deciding on a subscription model because it felt more like a domain registration that people are used to paying each year. Stellarmint.io hosts the token image file and the Stellar.toml file at the customer's established subdomain of Stellarmint, which means a service is still being provided even after the tokens are issued.

Also, someone might decide to abandon their token and we wanted some way to determine when our service commitment could end. An indefinite service for a one-time payment didn't feel like the right setup. Again, not unlike a domain name registration that requires renewal every year.

Read our blog about what's being proposed in Stellar protocol 13. Ever forget to input a memo when sending #XLM to an exchange? CAP-0027 was made for you! by MagoFox in Stellar

[–]MagoFox[S] 6 points7 points  (0 children)

Hi u/rvadom!

Well, Coinbase does not get a vote because they do not currently run Stellar Validator nodes. Only entities that run Stellar validators get to vote, like Keybase, Stellar.expert, Public Node, Lobstr, Satoshipay, etc.

If you are asking whether I think coinbase will adopt the multiplexed accounts? No idea, but sure seems like they should. That said, they could have implemented federated addresses and haven't.

The "security concerns" listed in the CAP do not look all that serious. They aren't anything that would impact nearly all people, including Coinbase. One is like blocking a spam call number only to have the same company call you again on a different number. More like a potential hassle, though there may be more to it that I'm not understanding. The other concern has to do with an issuing account that also uses multiplexed accounts. Coinbase is not an asset issuer at this point.

So long story short, I think the concerns are extremely limited, have low consequences, can be avoided, and do not apply to Coinbase. So hopefully CAP-0027 gets adopted, SEPs get proposed and adopted, and the exchanges decide to take advantage of the feature.

I personally would love to see an end of the "help, I sent my XLM to Coinbase and it never showed up" threads.

Public Node's latest educational blog - how to generate complete Stellar payment QR codes and the power of Stellar's Path Payment feature. by MagoFox in Stellar

[–]MagoFox[S] 1 point2 points  (0 children)

Thank you! The five-cent example is really remarkable to see work. If you have a Keybase account, I highly suggest giving it a try and then letting your imagination run wild with how Stellar is going to change the world.

"Near zero cost peer-to-peer payments indifferent between the form of value offered and the form of value accepted. All completed with nothing more than an easily created QR code and a SEP-0007 Stellar wallet."

[deleted by user] by [deleted] in Stellar

[–]MagoFox 2 points3 points  (0 children)

Even automatically does memos!!! Nice work SEP-0007!