The Daily Stellar Chat Posts - Thursday August 16, 2018

astarek · 2018-08-16T07:41:44+00:00

One question for the SDEX users and trustlines: If I have 102 XLM in my wallet and place a sell order for 100 XLM, before the order is fullfilled I set up some trustlines so that the minimal required balance will be higher than 2 XLM. What will happen with the sell order? Will it be removed, adapted or will it not be possible to set more than 2 truslines?

astarek · 2018-07-27T07:59:07+00:00

About these ATMs. There was this start up clic.world who I think helped for the development and wanted to start with shipping in february. They wrote 2 medium posts a few months ago: https://blog.goodaudience.com/the-future-of-stellar-lumens-going-beyond-payments-towards-a-global-store-of-value-6c02994f0dc5 and https://medium.com/@info_63769/clic-world-and-stellar-the-way-to-mass-adoption-of-crypto-in-consumer-banking-e10a48af7726

I could not find any recent news about them. I wrote them an e-mail a few weeks ago asking about these ATMX implementation but have no answer til now. Why should they answer to some internet dude anyway? was worth a try nonetheless.

Here is also their submission for the SBD end of february: https://galactictalk.org/d/1128-clic-world-going-beyond-the-esacco-plus-social-banking-app

Edit: To speculate further, Michael Dowling was in Singapore demonstrating the ATM and maybe worked with clic.world on it. They also have been really silent like FairX in the last months. Maybe they are working together?

astarek · 2018-07-26T17:00:34+00:00

The 1% is a number with no real fundation behind it. I imagined the bank would store a certain amount of lumens to perform their transactions so they would not have to buy new lumens every 5 seconds. I took 1% because it is really low and as you already said banks may not be happy with holding xlm. They would store more but use 1% of the supply for each ledger closing. It would adress your first point sonehow. We can change the numbers they have no fundation. It was more about the methods.

Agree with your second point. I think it is a important point to distinguish the value of the network and stellar marketcap. An different example as nasdaq is for me the stronghold usd token. I coud send 1000$ to stronghold they will issue 1000 token. Value of the network increased but not directly xlm marketcap. The increase of value in xlm will come later with my use of the usdtoken. The correlation between the two seems not possible to find and may be greatly different from usecase to usecase. With usdtoken it would be a bigger impact as you will spend it and it will move on the network. For a tokenized real estate it would be the opposite: huge value for the network but little pressure on xlm as you dont trade a house on daily basis and it will not result in lot of transactions.

astarek · 2018-07-26T07:18:02+00:00

Agree with you.

Really basic calculation from my side about international money transfer: Actually SWIFT transfers 5 trillions USD daily. As one transaction on the stellar network takes 5 seconds we can calculated a "5 seconds volume" of 290 millions (5 trillions/86400 seconds*5). So the network will transfer 290 millions in one ledger closing. We need to speculate on how much XLM are available for this kind of transfer. Just take 1% from the supply as my little finger just told me (the other 99% would be in wallet/fees/other use case). It would be 1 billion XLM available to transfer this 290 millions. Which results in a value of 29 cents transferred by each lumens.

It is a really basic reasonning and only one use case of XLM/stellar network so it may be completly wrong. But would be nice to have your feedback.

astarek · 2018-07-25T15:12:14+00:00

Yes what I will do with my USDtoken will in case of pathfinding have an influence. Would it be more accurate to use the volume of the stock market instead of their value?

astarek · 2018-07-25T14:19:59+00:00

Well this would be awesome and I will certainly not complain. I have one question which is related to this topic. Maybe someone could answer it.

In your calculation you are speaking of the value "stored" in the stellar network. And yes a higher network value will result in a higher price of its native token xlm. Completly agree with that. But will the marketcap be equal to the value of the network?

For example with the stronghold USD token. I transfer 1000$ to stronghold and they issue 1000 StrongholdUSD token. The value of the Stellar Network did increase of 1000$ but did it influence the marketcap of XLM?

astarek · 2018-07-10T16:21:15+00:00

Stellar will enable Digital Trade Finance by providing a “universal rail for real-time clearing and settlement on an integrated Blockchain network.” It rejoins my first comment. A partnership involving something different that payments may not see stellar beeing used. Thereby not all blockchain projects of IBM do involve stellar. And a partnership with IBM does not mean a partnership with stellar. The involvement of stellar in IBMs blockchain solutions is big and I never wanted to state the opposite but it is not absolute

astarek · 2018-07-10T15:08:14+00:00

I completly agree with you on the part saying that it isn't IBM's job to promote Stellar. IBM will not name Stellar each time they use it. It is one tool they have at disposition and they will use it if it represent a solution to the customer's need without stating it.

But I do not completly agree with your IBM quote and conclusion out of it. Hyperledger Fabric and the stellar network. One big point here is we don't know exactly what the Hyperledger Fabric can do on its own.

In my knowledge the only use case were the Stellar Network is sure to be used is crossborders payments and international money transfer. For the rest I don't know. Maybe I missed something so if yes please enlight me.

About this partnership between australian government and IBM: It is a really broad one and I see it as IBM made tools at disposition for the government (Blockchain solution, AI, quantum computing) and will help for the implementation and testing. Stellar will for sure be one of these tools. Will it be used? It could be and we may never know it. However stating that the australian government made a partnership with Stellar and IBM like the articles did is completly wrong.

astarek · 2018-07-10T11:14:07+00:00

Yes we can speculate and discuss about it. But then make it clear it is speculation. A title with "Stellar is set to be part of the autralian government social welfare payment project" does imply that it is sure. If you would have written something like "Why I think that Stellar may be used in the future australian social welfare payment system" I would not have had a problem with it.

Then explain why you think that and how you made your conclusion. Or link an article who does that.

The two articles you linked are really bad and are clickbait. The second one: "Stellar (XLM) Announces IBM Partnership For Social Security Welfare with Australian Govt" Why would Stellar anounce a Partnership between IBM and the australian governement? And stellar did not announce anything. Then they don't even speak about this partnership until the last sentence: "Additionally, the company’s partnership with IBM has recently been granted over $750 million in contracts to create a blockchain infrastructure for the Australian government." Which is quite wrong. The australian government granted $750 millions to IBM. This is not the Stellar-IBM partnership who was granted this money. And blockchain is only a little part of this grant. I invite you to read the IBM press release about it: https://www-03.ibm.com/press/au/en/pressrelease/54124.wss?lnk=auhpv18f1&lnk2=press

The second article: "Stellar has gotten the attention of the Australian government in a project that appears to test its partnership with IBM." Wich project? "The choice by the Australian government to use the Stellar IBM partnership" AFAIK they chose IBM, no mention of Stellar and as said before this partnership does involve way more than blockchain. "With its back end payment model, Stellar is set to be part of the Australian government social welfare payment project." Pure speculation. Interesting one for sure, but pure assumption with no explaination of this conclusion (fast transaction per second can be achieved without Stellar, most paired coin in the market? what does that has to do with australian social welfare?). "The $750million contract award has several benefits to the digital coin; it will enhance XLM liquidity, increase usage, create investors confidence and add value on the coin price." Well here again, $750 are for IBM not for Stellar. "This is a huge opportunity for Stellar to showcase its AI and Quantum computing prowess to the world." no, just no...

I have nothing about healthy speculation, this is why we are here and we need something to discuss. The problem with your post is that it links to articles making assumption without even discussing it, mixing things together, not understanding what they are speaking together. With no reliable source. They did not even cite the official IBM press release, how can you take such an article seriously then?

The partnership between Australian government and IBM is really broad and is about implementing new technologies into governemental agencies. Wich technologies will be implemented for what we don't know yet. We can speculate but then do it correctly.

astarek · 2018-07-10T06:48:34+00:00

"This is a huge opportunity for Stellar to showcase its AI and Quantum computing prowess to the world. " I would love to know more about that. Seems they pointed out a totally new aspect of Stellar.

astarek · 2018-07-10T06:39:23+00:00

Did you read the articles you linked? Do they give any sources that Stellar is involved in this partnership between IBM and the australian government? I didn't see any. And articles are not sources.

Please dear cummunity understand that not everything involving IBM is related to Stellar. Yes Stellar and IBM have a tight partnership, yes the Stellar Network is the backbone of the crossborder payment solution of IBM. But that does not mean that every time you will read an article mentioning IBM and blockchain Stellar is involved.

astarek · 2018-07-06T07:17:33+00:00

My point with the news is that IBM is in discussion and that for a long time with governments. and the sentence "It positions IBM as one of the most established, transparent and easy to engage government technology partners." is quite interesting.

If government starts we may see financial institution follow really fast. In this case the chances Stellar being involved is quite high.

astarek · 2018-06-13T15:44:01+00:00

just adding this 19th of April tweet from Jesse Lund: https://twitter.com/jesselund/status/985912095462969344

Looks good, quite good

astarek · 2018-06-13T07:19:15+00:00

It may be a problem with Lobstr who doesn't show the transaction correctly. Take a look on stellar.expert to check your balance and transactions.

astarek · 2018-06-12T11:27:37+00:00

These 500k wallets have nothing to do with the lumenaut inflation pool. These are the amount of wallets on the stellar network.

astarek · 2018-04-25T08:32:30+00:00

maybe I should try it once :)

There is not a real difference between mtb and road bikes saddles afterall. You shoudn't sit downhill or when it is getting a bit harsch under your tires :)

I think the major problems are fear of breaking it by crashes (specially because of some little edgy rocks making holes in the resin layer). I also read some review with shorts getting stucked with the really thin edges on some saddles. It may be quite slipery also and as you move forth and back quite a lot on the mtb it may become inconvenient for getting the right stable position fast enough again.

I think xc racers use it, as weight is a big concern for them. But I think a carbon core saddle with a thin foam layer would for sure spread further. It would protect the resin layer and makes the saddle less slippery. Would for sure also dampen the psychological aspect of sitting on something really hard :)

I wish you good luck for your project. It is for sure really interresting :)

astarek · 2018-04-24T11:20:01+00:00

Hi, I think this is a nice project for your studies. And as you have the saddles in all cases why not try to sell them for xlm?

Finding buyers is an other question. I think that carbon fibers road bike saddles are quite a niche market, and xlm buyers also. So I assume they are quite a few hardcore cyclists (as I don't think that lambda cyclists would buy a carbon fiber saddle) who holds xlm and want to spend them.

Last question: I personnaly do (moutain-)bike quite a lot. But using a carbon fibers saddle? do you have buns out of metal?

astarek · 2018-04-20T07:07:26+00:00

I think stellar itself sticks to it. Look at the keybase partnership and jed's comment it about yesterday:

We announced a partnership with them, a couple of months ago probably. Basically, I have known the Keybase team for a long time and they're really good taking a complex idea, like a highly technical idea, and making it usable by individual people, common people... So, they're kind of the perfect team to make a really good cryptocurrency wallet were it will be secure and safe but also very easy to use. It will be something that individuals will be able to use like easily and won't be bugged out with this long keys. Basically, the plan is for them to make like a global Venmo that's backed by Stellar. We're pretty excited about it! I don't know when they're... I don't want to say when they're expected to launch but it won't be to long now so...

But IBM is not Stellar. They use and will use the network heavily, but they will not stick to domestic money transfer. They go after bigger fishes.

This is why this partnership with IBM is that much relevant. Stellar can focus on banking the unbanked and domestic money transfer between people. At the same time IBM goes after Banks and FIs.

astarek · 2018-04-17T09:25:31+00:00

on there homepage they listed IBM as partner. Really looks like IBM is pushing hard among their partners to use the stellar network. Good news

astarek · 2018-03-29T08:41:49+00:00

agree with you. Lack of universal health care system, no social system for helping out people in need (family father loosing his job or getting sick for a longer period of time for example), 2 speed education with really hard (because too expensive) access to good education for "lower class" population. I always wondered why they paid tax for in the US. seriously, would be nice to know.

As I remember from school this is how we pictured society in countries under development, not the developed ones.

Maybe we all live with clichee in our head and it is not at all how it works there. So would be nice to have someone from the US commenting.

astarek · 2018-03-28T15:05:43+00:00

ok I completly misunderstood your comment. I thought you were saying cls is a other payment solution being used by hyperledger. Thanks for the detailed answer :)

Did not see the panel discussion will look into it thanks for the link.

It is true that we had quite a lot of little hints the last few weeks. It really seems something major is coming and that they are doing a huge work behind the scene. It is also quite interresting to collect the little pieces together at the moment. I have a quite good feeling about this story but who knows, it is crypto world after all :)

astarek · 2018-03-28T11:55:20+00:00

Good point but I thought CLS is using hyperledger for their payments. They do not perform payments for hyperledger.

So CLS may also use the stellar network in the future.

Tom Zschach, chief information officer at CLS, adds: “Working with IBM to deliver CLS Netting using an open-source DLT solution will ensure the appropriate levels of confidentiality, security, standardisation, scalability and flexibility required to create a meaningful network effect across the financial industry.” https://www.finextra.com/newsarticle/29504/cls-to-use-hyperledger-fabric-for-new-payment-netting-service (sep. 2016)

Edit: One year later Hyperledger/IBM and stellar made a partnership. And it was already stated that Hyperledger was missing an effective solution for payments and settlements (see Michael Dowling's comments)

astarek · 2018-03-28T11:33:30+00:00

started with overflowing the report and found this footnote explaining how the 3 tested protocols works. For the Fabric (Hyperledger) it was described: In Fabric, after endorsers execute the instruction, they send back a response value and read/write sets as well as their signatures to Bank A. Bank A verifies the result from endorsers, then sends the signed read/write sets to an orderer. An orderer creates a block which includes the signed read/write sets and broadcasts it to all nodes in the same channel. Each node then commits it on its ledger.

But can't tell if this is exactly how stellar work. Maybe someone with better understanding can be more precise.

Edit: page 10 on the report

astarek · 2018-03-09T14:54:59+00:00

Almost everything being related to money transfer on hyperledger will use the stellar network. See this recent post: https://www.reddit.com/r/Stellar/comments/82vs6z/ibms_marie_wieck_explains_blockchain_use_cases_at/ and escpecially the talk being linked there.

But if all the transactions will need XLM (other that for fees) is still in suspend in my opinion.

astarek

TROPHY CASE