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<dzham> @john: there’s usually a delay with the gas prices, since there’s a refinery in the middle. also, spot prices vs futures.
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<john> @dzham: thank you mate! Do you mind looking at another question of mine on the "testing" channel? We chatted once on the that subject but I still don't fully grasp it...
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<dzham> np! what channel’s that?
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<john> Morning mate! the "testing" channel on Slack. Do you want me to DM my question?
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<john> I realise that only 15 members are signed in in that channel that's why no one answered it...
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<john> Let me post the question here:
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<dzham> :)
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<dzham> Well, there’s 100 billion XLM, so 0.05% of that would be 50 million
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<john> So 50 million are added to the network each year & How many Lumens an account need to hold in order to receive a min. of .05% of "votes"?
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<dzham> Ah, no, the other way around… You need >50M to get a part of the inflation
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<john> Ha!
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<dzham> One billion would be added per year
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<john> So if account A has a min of >50M and set vote toward account B, how many coins can account B except? 1 XLM per vote?
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<dzham> somewhere around ~200k XLM per week
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<john> @dzham: sorry for late reply... I try to figure out your explanation.... ,:)
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<dzham> oh wait, it’s around 9500 XLM per week. Over a full year, each XLM voting will give you 0.01 XLM
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<john> But how do you came up with 9500?
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<dzham> (in the end it’s more than that, because the inflation is only distributed to the accountIDs that qualify for the >0.05%)
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<john> Ok I got you now. The only obscure part I still can't figure out is the voting that will give you 0.01XLM how do I come with that figure?
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<dzham> because the inflation rate is 1 per cent… so each existing XLM will turn into 1.01 XLM after a year
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<john> Ok, it all make sense now. One last question: can 50M XLM be splits into various other accounts? For example, can a thousand small accounts holding various amount of XLM but totalling 50M set their vote toward one unique recipient account?
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<dzham> Yup, it’s just the sum of all votes that counts
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<john> Ummm! That's interesting. And do you know if no one so far has ever thought to set a community project to get a weekly slice of the cake?
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<raymens> I think they did in the (deprecated?) StellarTalk forum
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<john> @raymens: yes I do recall that but it never worked for some reasons
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<john> It may be time to try again... No?
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<dzham> I’m not sure if inflation was ever turned on
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<john> In an organised way with trusted Dev for the coding part and a smart contract for the weekly re-distribution
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<john> @dzham: would you be interest yourself to give a try?
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<dzham> I’ve had some thoughts about having some services that user pay for by inflation, but I’d need 700M just to cover living expenses, and that’s like half of what has been given away so far
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<john> I don't understand...
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<dzham> 1) Create a service. 2) You pay by setting your inflation vote to me. 3) Profit?
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<john> To reduce the cost of creating such service, why don't we keep it to Slack members only?
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<dzham> I’m talking about software for Stellar. Multi-sig wallet, trader, multi-sig aggregator/notifier, etc. etc.
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<john> Yes I see... That would really cost a lot to set and the profit wouldn't be large enough with 50M only...
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<john> But is there a way to keep it strictly simple to a circle of "friends" only?
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<dzham> We could create a pool, that would be easy enough, we just need to go above 50M votes in total
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<john> I'm in with 1M and I'm sure many others would come up with that kind of figure... No?
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<john> I could easily increase that figure to 2 or 3M if needed.
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<john> What's about you guys? I would really love to do it but don't have the skill to code...
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<john> @dzham: so to recap, if we go above 50M, a 1M holder would get a min return of 190XLM per week, is that correct?
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<dzham> yup
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<john> Well it's a small return for 1M min per members but it would be fun to try and that would somehow unite the community. No?
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<dzham> I’ll set something up over the weekend.
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<dzham> Got some other stuff to finish too, but a pool looks straight forward
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<john> Please do, I will backup such project. Besides, if one day XLM start to raise, the small profit could become mighty
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<john> We could even ask @eva a channel for this only were we could post support, announcement etc...
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<dzham> Good idea
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<john> Nice chatting with you mate. Talk to you later :grinning::+1:
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<sacarlson> @dzham @john so if I deposit big money in GAVE55DTEXJJN4WYSNTXVO5Z3VVPYPKOQAGHBGANLJPBBOKHYECGBTEZ on testnet and set it's inflation Destination to GBAD6S2LUEOVK33HNX7NZ7J3B4VOUQXDYOGYV6NNWEYQAPLWAR2KYRUB that now only has 21 Lumens, How long will I see a change in GBAD... ballance?
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<dzham> I don’t know if they’re even running inflation.. but if they are -- once a week
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<sacarlson> oh who has to run it?
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<sacarlson> in this case I put 97999999999.99 lumens in GAVE55....
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<dzham> anyone can do the call, but it will not have any effect if less than one week has passed since the previous inflation event
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<sacarlson> so next friday we will have to se as it's already done
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<sacarlson> oh so maybe two weeks then. so I might have to send the transaction to create the first event
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<john> @sacarlson: so did I understood correctly? Are you testing the inflation on testnet?
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<john> Looking forward to see if it works!
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<john> @jed: is the inflation running?
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<john> On real scenario?
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<sacarlson> yes John we are going to give it a go all setup and running
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<sacarlson> later I'll update my github with the same
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<john> Genial!
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<john> If it works on testnet and Jed confirm that the inflation is also running for real, we could set a pool and gather few willing participants
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<john> @dzham offered to look at it this weekend
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<dzham> If it doesn’t work now, it’s going to work later, so I say we go ahead anyways.
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<sacarlson> in a pool we would also require some security so someone doesn't run off with all the funds, some kind of lock that provides anyone can pull his funds out but now one elses
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<dzham> Yup, all in time. If we cant’ get 50M XLM it doesn’t matter
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<john> @sacarlson: why would that happen? No one will be required to pool funds in one wallet
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<sacarlson> we have way more than 50m in testnet and that is the place to test it
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<dzham> And if we can get 50 it’s still only 866 USD over a whole year
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<dzham> Not exactly something I’d lose my rep over
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<sacarlson> oh your right john I didn't think of that
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<sacarlson> yes only trust required is that the fund manger that recieves the funds gives each share to the pool clients
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<john> We would just need a smart contract to redistribute the weekly earned inflation from the recipient account to the participants
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<john> This could be done in an automated way I suppose. No?
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<sacarlson> yes I would like that smarth contract method is posible
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<sacarlson> I think I have about 2 million Lumens to invest in it
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<john> Really what's needed at the end is a recipient account set to immediately redistribute the inflation to the participants. We could entrust the secret key to Joyce or Jed and we need a coder to code/edit/add the list of participants.
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<john> I have 1M but can to put more if needed
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<sacarlson> the list of participants can be automated from data colected from the stelar database
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<dzham> I’m still saying we take small steps.. it’s $16 a week
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<sacarlson> $16 for 50 Mil? that ok with more participants it can get biger
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<john> Yeah
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<john> But the idea would be that if we leave the inflation accumulate in each participants account on top of their original amounts, the return will grow on a weekly basis
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<sacarlson> the fund manager could be a group of people say John, me, dzham ... that are signers that would require all our sigs to make the distibution payments
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<john> Every single week the vote of all accumulated participants will keep increasing
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<john> @sacarlson: why not
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<sacarlson> I don't see much money it in but I still like the idea
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<sacarlson> oh and not all sigs best have 75% or 60% of the signers ok to distribute as maybe someone drops out
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<sacarlson> or is a flake
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<sacarlson> I think it's a good practice project
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<john> Yes I really like this idea too!
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<sacarlson> ha ha john you seem to think you will make a zillion lumens I guess, but as dzham points out the money is small
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<sacarlson> I just look at it as a chalenge
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<john> Hahaha I've made the maths... I know the return is low but looking at the big picture, if this works, we could legalise such project and expand it in such a way that we will help SDA to decentralise the deflation mechanism. They may even participate at some point
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<john> Legalise.... I mean officialise it by registering as a non profit business
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<sacarlson> I'm also not sure how time falls into play here as with participants in longer might deserve more? do we just need the funds for a single day before the week end point tally?
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<john> Sorry AFK for 20 min...
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<sacarlson> ok it's my beach beer time also see you all later fun talk
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<sirius> Any insider info on when Lobstr will be available?
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<sirius> And who maintains it
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<sirius> Ok, Razor Theory apparently
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<sirius> Belarus...
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<bartek> ^ @gleb
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<dzham> @john: I've got a super-duper basic signup running. I wouldn’t use it until someone else checks it out and says it’s OK, since it uses your secret key to send a tx, setting the inflation dest
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<bkolobara> Is there a desktop or mobile wallet that doesn't keep your private key on their servers?
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<raymens> Centaurus
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<john> @dzham: thanks Joan I really appreciate that. I hope @jed will give us some insight such as is the inflation running and a check up of the signup
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!balance
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<eva> @john: you could definitely make a channel for that! It should be set so anyone can create a channel - just click the plus sign next to where it says “CHANNELS” on the top left
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<eva> @welcome @izebb, great to have you! How’d you hear about Stellar?
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<eva> @john and @dzham yes, inflation is “running” :)
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<john> Thank you @eva :-)
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<john> @bkolobara: Hey Bernard, how are you? I was wondering if you interest in Stellar is personal only or someway related to your job
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<powderfan> @john @dzham @sacarlson: if we really team up to overcome the 50M threshold, may I ask for kickoff support for centaurus in the following way: I would like to build a constant giveaway based on user funds voting for centaurus. If we could manage the pool over the centaurus donation address I could distribute the inflation coins to the pool members as was suggested, but start earning lumens for the program wit
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This is really the missing piece for me at the moment and would help me a lot. Of course we could use multisig to guard the correct distribution of coins if you want to.
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<mr_selenio> in page 2 i posted an email from the CEO
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<mr_selenio> almost at the end of all the comments
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<mr_selenio> it is an ongoing project
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<john> Looks a great app!
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<john> Where do you live?
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<mr_selenio> I'm from Uruguay
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<john> I heard you have some beautiful beach over there?
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<john> How's the crypto situation in Uruguay? Is Stellar well known?
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<mr_selenio> yes, but not in the cupital
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<mr_selenio> capital*
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<mr_selenio> the Montevideo beaches ar ok but not that great
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<mr_selenio> anyway people go a lot to the beach
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<mr_selenio> crypto is dead here xD
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<john> why is that?
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<mr_selenio> only bitcoins and just for few people
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<john> Do you know a lot about Stellar?
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<mr_selenio> nope i dont know much
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<john> Stellar is a revolutionary network meant to facilitate financial inclusion and cross-border payments. It's original creator is Jed McCaleb. Do you know him?
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<mr_selenio> no i
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<mr_selenio> no i don't know about him
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<bkolobara> Next month I will be traveling. Mostly without internet access so I will use this break to *think* about different approaches. Hope the community is even bigger when I come back!
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<john> HO! I forgot about that... bioinformatics... We had a chat about that few weeks ago!
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<john> I didn't realise you were the same "Bernard" since you changed your user name
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<john> Were will you be traveling?
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<bkolobara> Yeah. Time flies fast. And you are really active here. Do you work for Stellar?
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<john> No. I'm a full-time volunteer for an international organisation but love Stellar on my spare time.
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<john> Yes the community is growing every day with really interesting people from all sorts of background so I like to spend time around and foster discussions
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<john> I wish you a nice trip and keep in touch when you come back!
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<bkolobara> Thanks. I will have a lot of catching up to do.