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<stellar-slack> <kjn311> So if I'm not to speculate on XLM why would anyone in the developed world buy XLM or develop for it? If many ppl held XLM more devs would likely develop applications because of the network affect. For example, if less ppl have windows phones, I'm less likely to develop on it.
<stellar-slack> <kjn311> I think what stellar is doing is very noble. I guess I'm just not at a point in my life to do charity work.
<stellar-slack> <buhrmi> Charity lol
<stellar-slack> <buhrmi> Ok
<stellar-slack> <dzham> I don’t know what’s so funny about that. Tragic, but true. There’s not network effect to speak of, the only way to get users is to bring them yourself. Then you’re stuck with islands where people are using the system, but don’t know it, and don’t interact with people outside of their little island
<stellar-slack> <dzham> Technology-wise I love the platform though, don’t get me wrong.
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<stellar-slack> <bkolobara> Obsession with the price is the reason I moved away from Bitcoin. In the end nobody uses Bitcoin for anything. And there is no reason to do so. Either Bitcoin is right now extremely under or overpriced. Nobody wants to do the 10 million dollar pizza mistake again. Why spend your Bitcoin now on pizza if you can hold on and buy a house in a year? So the only reason to buy Bitcoin becomes speculation. If we look
<stellar-slack> we see that they struggle to turn a profit by being a payment processor for Bitcoin. And because speculation without usage does not move anywhere, Bitcoin is stuck in a loop of price pump and dumps. I would hate for this to happen to Stellar. XLM being only one of the currencies helps a lot. But on the other side the price pumping in Bitcoin is the reason it got so much media coverage. And in the end the reason people are
<stellar-slack> stellar. And now even banks are looking into blockchains. This would not be possible without speculation. I'm sure that developers and users would invest much more time into developing/promoting stellar if they could have a financial gain from entering early and holding XLM. Everyone wants to hold the winning ticket. Because of this I see the price of lumens as a measure of success in some way. But an enormous price witho
<stellar-slack> stellar, as it didn't help Bitcoin to succeed.
<stellar-slack> <kjn311> I agree. So maybe a middle ground approach? Peg XLM to another stable currency. This would eliminate hoarding yet give a reason to clear in XLM. Bad idea?
<stellar-slack> <sacarlson> @kjn311: in some way I think that is what is happening (peg XLM) as I assume Stellar has put up a quantity of it at there set limit price
<stellar-slack> <sacarlson> and yes I see that as one way to keep it stable and I see that as a good thing as needed for a currency. That's why governments do the same thing to there fiat currency
<stellar-slack> <kjn311> Lol nice.
<stellar-slack> <sacarlson> BEER or Leo Beer is now up to 39 Baht or up about %25 since that article was written by the way
<stellar-slack> <kjn311> Fun facts: it cost 1,371.2 Nairas to buy a gallon of milk in Nigeria. That equals 3112 XLM. Which is worst? Volatility of the Naira or XLM?
<stellar-slack> <sacarlson> well how much did it cost for a gallon of milk in Nigeria in the year 2011?
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<stellar-slack> <kjn311> Good question. Could not find
<stellar-slack> <sacarlson> I have problems in combodia that has 10,000 notes that are worth about $3.0 usd. it's just hard to count all the zeros when I buy a beer with them, hard to tell 1000 from 10000
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<stellar-slack> <john> Hi everyone! Just back from a week in Italy... How's Stellar doing?
<stellar-slack> <eva> Hey @john great to have you back! How was your trip?
<stellar-slack> <john> Splendid! We went to visit my wife's family in Sorrento, the weather wasn't the best (a bit cold) but we had a good family time
<stellar-slack> <john> And you how are you?
<stellar-slack> <john> @bkolobara: Bernard I like you comment re: Bitcoin... "Obsession with the price is the reason I moved away from Bitcoin". I totally agree with you! There is so much hype around crypto & blockchain in general but only time will define it's future.
<stellar-slack> <eva> Sounds good despite the weather :) Doing all right over here, though rather jealous of your Italy trip.
<stellar-slack> <eva> For me, the price of the crypto itself is only one small aspect of the overall ecosystem
<stellar-slack> <eva> And it’s treated as this One True Thing that measures health/success, but I think there are so many other metrics that matter more.
<stellar-slack> <john> Exactly Eva! The fact that some have made huge return in the early days have distorted the real value of crypto in general.
<stellar-slack> <john> A good quote about the true measure of business success: The true measure of success is how much we’re learning about clients, offering, market, business, and ourselves. It’s not about how correct the original planwas, or if things are going “just as we expected”—it’s about learning what we couldn’t possibly have known beforehand.
<stellar-slack> <john> Early success is also not about acquiring customers... it’s learning why those customers signed on and why others chose not to. It’s about getting feedback on what parts of our offering need improvement, and learning to turn feedback into a better product. It’s about understanding how our business can influences *(even change)* the marketplace.
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<stellar-slack> <eva> I love that!
<stellar-slack> <eva> It’s very much the way we approach things here. A focus on what we learned from a given project, just as much as the project’s “success” itself.
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<stellar-slack> <john> @dzham: How's my buddy doing???
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<stellar-slack> <eva> Really interesting new research that talks to the clients of microfinance institutions. General consensus from microfinance borrowers is they’re happy with the service, but would like more empathetic treatment and more transparency. http://smartcampaign.org/storage/documents/Synthesis_Report_ENG_FINAL.pdf