<stellar-slack1>
<ptomli> Slide 10 appears to be showing a person in South Africa/Namibia receiving AUD when I suspect it should show ZAR or NAD, or the recipient should move ~10,000km East ;)
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<stellar-slack2>
<eva> @ptomli and @dzham thanks for the feedback :) We’re redesigning basically all of the /learn page, so stay tuned for completely new graphics!
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<stellar-slack2>
<irisli> @dzham I tried to fix it but couldn't
<stellar-slack2>
<irisli> (or at least i couldn't in the 5 minutes that i tried)
<stellar-slack2>
<irisli> @dzham: ok it should be fixed in firefox now. thanks for the report :)
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<stellar-slack2>
<garth> I am looking for some feedback from the stellar community and specifically from those who are doing crypto trading. My eQuid project is not going anywhere fast so I want to try the project I was intending to to 3rd Before I write too much. Is there anyone interested in giving me some feedback?
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<stellar-slack2>
<garth> I want to issue an asset that is 100% backed by real estate. I have a couple of lots to back it up now and will develop them with the proceeds from selling the asset (on an exchange of course). There are quite a few variables that will change the book value of the asset and it will go up significantly when developments are completed. The rules of the asset are designed to be interesting for active traders and a
<stellar-slack2>
decent return. Does this sound like something that traders or investors would be interested in trying out?
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<wegetwha1wedeser>
Iv figured out the missing link for this protocol- Im fairly certain
<wegetwha1wedeser>
there should be no lumens to start with
<wegetwha1wedeser>
actually there's no need for them
<wegetwha1wedeser>
this might just be hard to bootstrap in my head
<wegetwha1wedeser>
even more so on a chat
<wegetwha1wedeser>
i figured it out by understanding what lumens stand for
<stellar-slack2>
<garth> Hmm doesn't look good. Does it go against the stellar grain? Is it not worth the time and energy to give it a try? I have a great developer to handle the back end. Good marketer for the front end. Don't want to chase a bad idea though.
<wegetwha1wedeser>
so they represend the cost of validating
<wegetwha1wedeser>
so you can leave it all to the validators
<wegetwha1wedeser>
so there could be a lumen/like coin- but they are sold by the validators, for redemption against future validation
<wegetwha1wedeser>
so this looks extremely complex at first
<wegetwha1wedeser>
no way anyone can keep track of it- but really it's just a matter of micro-arbitrage done by hundreds or thousands of players
<wegetwha1wedeser>
it's very rough- Im going to develop the idea- I know im unto something
<wegetwha1wedeser>
if you hadnt figured it out- stellar is an attempt at creating AI
<wegetwha1wedeser>
a living network
<wegetwha1wedeser>
but it has to be embeded with incentives- the pre-created lumen+inflation doesnt do that
<wegetwha1wedeser>
those lumens represent work
<wegetwha1wedeser>
done by the network to validate- yet the work isnt compensated
<wegetwha1wedeser>
the inflation creates a very bad circumstence
<wegetwha1wedeser>
it just incentivizes hearding of lumens
<wegetwha1wedeser>
hoarding sorry
<wegetwha1wedeser>
thats useless
<wegetwha1wedeser>
so if anything- keep the precreated lumen- but pay the spent lumens to validators
<wegetwha1wedeser>
but then you have the problam of validation price- how is it set
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<wegetwhatwedeser>
ohh shoot! did you get all that?
<wegetwhatwedeser>
I think I dropped out for a while
<wegetwhatwedeser>
maybe this isnt the right place
<wegetwhatwedeser>
hello>
<wegetwhatwedeser>
I cant do voice call, but ill discuss this with whoever is concerned- even if there;s no interest, he/she should hear it. I wouldnt want to come to "Ohh man you shoulda told us this years ago"
<wegetwhatwedeser>
but youll hear about it otherwise, if I have to initiate the implementation myself. I would dedicate a few yrs of my life over this- and Im no average Joe
<wegetwhatwedeser>
but in any case- you have to trash the inflation- that's for sure- bad incentives. And "the email of money" sounds so bad. I hate email.
<stellar-slack2>
<jed> validation isn't expensive like it is in bitcoin
<wegetwhatwedeser>
doesnt matter
<wegetwhatwedeser>
you either create a self-sustaining system or you miss out on something and it dies, just like btc
<wegetwhatwedeser>
this is the creation of a living computer network, no less
<wegetwhatwedeser>
so if you make validation depend on the good will of someone, you havent created a self=sustaining model
<wegetwhatwedeser>
if the effort of validating can be bought and sold, then you might be stunned by the result
<wegetwhatwedeser>
I very well might use stellar- but this is a major flaw
<stellar-slack2>
<jed> you basically need to run a validator if you are running a business connected to stellar. it doesn't depend on goodwill.
<wegetwhatwedeser>
of course it does
<wegetwhatwedeser>
you dont get compensated to do it
<wegetwhatwedeser>
engage intellect
<wegetwhatwedeser>
this is not my opinion, this is a fact
<wegetwhatwedeser>
undeniable fact
<stellar-slack2>
<eva> @wegetwhatwedeser not all motivation comes from a direct compensation. Also, from a social perspective, our hope is that the participatory budgeting design will enable users to fund novel business models or causes they support. https://en.wikipedia.org/wiki/Participatory_budgeting
<wegetwhatwedeser>
"not all motivation comes from a direct compensation" ... what is that supposed to mean?
<wegetwhatwedeser>
I thought I would hear something like 'too hard to implement' or 'we dont have time'
<wegetwhatwedeser>
All motivations comes from the expectation of a return
<stellar-slack2>
<eva> @wegetwhatwedeser people do things for all sorts of reasons, many of which don’t have direct financial compensation. For example, in this case, running a node is something a business does when they use the network - using the network can help them save money and reach more customers. So you could say it’s an indirect motivation.
<wegetwhatwedeser>
ok, does anyone want to talk about the actual idea I am bringing forward?
<wegetwhatwedeser>
eva My major was praxeology
<wegetwhatwedeser>
Look, BTC worked for years- so stellar will probably work for a while as it is
<wegetwhatwedeser>
so if youre saying you just want to get boostrapped and dont have time for such a big overhaul, I completly understand
<wegetwhatwedeser>
but I didnt come here to talk about good intentions
<stellar-slack2>
<eva> @wegetwhatwedeser I think what we’re saying is that we feel the lumen distribution model is good as is - with 90% going to the world, and not necessarily just to validators. We also feel that validators don’t necessarily need direct financial compensation, for the reasons mentioned above. If you’d like to develop a consensus-based network that operates differently, you’d (of course) be welcome to use SCP
<stellar-slack2>
with.
<wegetwhatwedeser>
if you put the two systems side by side- the one that incorporates the concept I gave laid out will be cheaper for the users, for sure
<wegetwhatwedeser>
and I know I can use SCP, I dont even need anyone's permission to use an idea
<wegetwhatwedeser>
and you dont need anyone's permission to use an idea either
<wegetwhatwedeser>
it would be cheaper, faster and more reliable
<wegetwhatwedeser>
ok, in any case, im fairly certain something of that sort will eventually come about
<stellar-slack2>
<eva> It sounds like you’re pretty passionate and confident in this idea . It isn’t a design that we’ll be adopting, but I’d say you should go for it :)
<wegetwhatwedeser>
so youre saying no then
<wegetwhatwedeser>
then for sure Ill do it
<wegetwhatwedeser>
or Ill die doind it
<wegetwhatwedeser>
someone will finish it
<wegetwhatwedeser>
and when that happens stellar will go offline
<stellar-slack2>
<eva> Good luck, and I look forward to seeing any advances in the consensus space.
<wegetwhatwedeser>
this is the greatest discovery since fire
<wegetwhatwedeser>
AI
<wegetwhatwedeser>
Newton would have killed to be able to take part in this
<wegetwhatwedeser>
also be caeful- be very careful. Some people will not like what you're doing, and they'll try to shut you down.