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Jugular

Should there be any concern?

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7 minutes ago, enrique11 said:

It doesn't matter because the participants can trust one another, so the odds of fast-path consensus failure are very low, but it's a nightmare if it does fail - it means manual reconciliation of transactions...that means people in every participating institution in that Chain network have to go to their respective ledgers and fix any and all erroneous entries manually until the ledger matches again across participants..and then afterwards it can continue processing transactions like before.

Really crappy product, but if Stellar purchased this product, I think they knew what it was, what good and what not, maybe they can improve it in some way, or maybe they purchased it for a specific particular use or niche.  

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37 minutes ago, BibleChronologyXRP said:

Really crappy product, but if Stellar purchased this product, I think they knew what it was, what good and what not, maybe they can improve it in some way, or maybe they purchased it for a specific particular use or niche.  

It really doesn't matter if it's crappy because the product is for institutional use (private, permissioned network)...the validating participants can trust each other much more easily than validating participants in a public, permissioned network like stellar that's intended for everyone's use, or even worse, a public, permissionless network like Bitcoin, so it's not as bad as I thought.. still, it's a crappy product.

Edited by enrique11

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26 minutes ago, enrique11 said:

We all gots hopes, you know what I'm sayin'? :D

Sure do. So it's important to recognize that, I hope I don't get hit by a bus is not the same as I hope I don't get hit by an airplane. 

Edited by LordVetinari

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15 minutes ago, LordVetinari said:

Sure do. So it's important to recognize that, I hope I don't get hit by a bus is not the same as I hope I don't get hit by an airplane. 

Same here....that I live long enough to see the market mature and enjoy some of the gains from my portfolio if I've picked the right 'coins'.

I don't expect maturity anytime soon.

Edited by enrique11

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1 hour ago, Kpuff said:

I think this is my confirmation to put some money in stellar. I'll go 98% xrp and 2% stellar. I only like tokens with an actual purpose. And if stellar provides that then im all good with it

Unless I’m mistaken, the money to buy Chain was from XLM. IBM’s protocol is using its own stable coin with no announcement of ever planning to use XLM. I feel bad for the XLM bag holders. They funded their own demise. Nice touch Jed. 

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50 minutes ago, enrique11 said:

t really doesn't matter if it's crappy because the product is for institutional use (private, permissioned network)...the validating participants can trust each other much more easily than validating participants in a public, permissioned network like stellar that's intended for everyone's use, or even worse, a public, permissionless network like Bitcoin, so it's not as bad as I thought.. still, it's a crappy product.

I recall Adam was confronted about his closed permissioned solution that Chain presented to Visa back in 2016 (vs consensus) and his response seemed very practical; that it’s more important to be connected to a network (like Visa) that’s already established than to have the best Blockchain technology. I had to admit even back then when I started falling in love with Ripple that he had a point —if you didn’t want to start at the bottom of the barrel, that is.

I also found the following quote at Chain’s website posted earlier today:

“We want to thank our customers and partners who have encouraged this important strategic step for Chain. We are excited to continue working with many of them as we continue to pursue the same mission of enabling value-over-IP. A special thank you to our strategic investors Visa, Nasdaq, Citi, Capital One, Fiserv, and Orange. Working with them has proven that partnerships with market leaders are critical to innovation in complex industries such as financial services.”

Seems like he’s accepting an Oscar for Best Film. I dunno what to make of it. 

https://blog.chain.com/chain-and-stellar-are-joining-forces-ecd44fb4c474

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15 minutes ago, Jugular said:

I recall Adam was confronted about his closed permissioned solution that Chain presented to Visa back in 2016 (vs consensus) and his response seemed very practical; that it’s more important to be connected to a network (like Visa) that’s already established than to have the best Blockchain technology. I had to admit even back then when I started falling in love with Ripple that he had a point —if you didn’t want to start at the bottom of the barrel, that is.

I also found the following quote at Chain’s website posted earlier today:

“We want to thank our customers and partners who have encouraged this important strategic step for Chain. We are excited to continue working with many of them as we continue to pursue the same mission of enabling value-over-IP. A special thank you to our strategic investors Visa, Nasdaq, Citi, Capital One, Fiserv, and Orange. Working with them has proven that partnerships with market leaders are critical to innovation in complex industries such as financial services.”

Seems like he’s accepting an Oscar for Best Film. I dunno what to make of it. 

https://blog.chain.com/chain-and-stellar-are-joining-forces-ecd44fb4c474

Sorry, dude. I just couldn't help laugh when you thought we were holding bags of XLM, like it's something bad. 

IMO, Institutions that are heavily regulated don't want XLM or XRP on their balance sheets until and if it stabilizes and regulatory uncertainty around them holding and using these cryptos is settled. Until then, stablecoins are a hot item now, and its for institutional use. You need something like $25,000 minimum of IBM's StrongholdUSD to participate in that and to be accredited, so it's basically for institutional use IMO...it's not for regular retail investors.

Edited by enrique11

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3 minutes ago, enrique11 said:

Sorry, dude. I just couldn't help laughing when you thought we were holding bags of XLM, like it's something bad. 

???  I have no idea what you’re referencing. My only aim was to gather some insight into what/why Stellar bought Chain and how/why it’s competitive since I’ve been all in XRP for years waiting to see some XRPL utility volume. So far, most of the responses here have been a good read for me anyways. Thanks to those who made sense. Cheers. 

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21 minutes ago, Jugular said:

???  I have no idea what you’re referencing. My only aim was to gather some insight into what/why Stellar bought Chain and how/why it’s competitive since I’ve been all in XRP for years waiting to see some XRPL utility volume. So far, most of the responses here have been a good read for me anyways. Thanks to those who made sense. Cheers. 

lol...sorry man...I confused you with this guy --->>> Kaidan

by referencing the last post in this thread thinking you were the author of the post I was 'laughing' about, but it wasn't......I got confused 'cause you replied to me... and I didn't read it a second time to make sure it was the right post...my apologies. :(

Edited by enrique11

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3 minutes ago, enrique11 said:

lol...sorry man...I confused you with this guy --->>> Kaidan

my apologies. :(

By all means, please put your money where you feel it’s best.  I hope you make money. I really do. This space is big enough for many companies to make incredible profits. 

Having said that; The optics on this are terrible. I went over to r/stellar and the first thing I saw was a big post of how the stable coin is a “first step”. I don’t think XLM is going to be used for this.  Why would they move to XLM after proving their stable coin works and get the institutions to buy in? So after all the hard work they’re going to say, hey you know what would be a great idea? XLM instead of the coin everyone agreed to use!

This is the part that I don’t understand. If XLM is the better option down the road, then ripple has already won using XRP out of the gate.   

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55 minutes ago, Kaidan said:

By all means, please put your money where you feel it’s best.  I hope you make money. I really do. This space is big enough for many companies to make incredible profits. 

Having said that; The optics on this are terrible. I went over to r/stellar and the first thing I saw was a big post of how the stable coin is a “first step”. I don’t think XLM is going to be used for this.  Why would they move to XLM after proving their stable coin works and get the institutions to buy in? So after all the hard work they’re going to say, hey you know what would be a great idea? XLM instead of the coin everyone agreed to use!

This is the part that I don’t understand. If XLM is the better option down the road, then ripple has already won using XRP out of the gate.   

It's just that Ripple is for institutional use with primarily a cross-border application, not for payments in general - it's deflationary...I don't mind making money via XRP's value increase, but I plan on using only cryptos in the future if I live long enough to see sufficient support for it in all aspects of payments and of course the crypto's marketcap that I want to use is sufficiently large, for example like 1trillion+ USD for price stability...I'm not going back to the banks, so I need to find cryptos for me.  Once I sell out of XRP, I'm not going to go back into fiat (the exception to this is to diversify my portfolio with some real estate and that will still likely require the use of fiat for the foreseeable future and also have sufficient fiat on the side for aspects of payments that require the use of fiat even way into the future because the system is resistant to change), but generally,  I want to stick to using crypto instead of fiat...that doens't mean I will hold only crypto, but it does mean that as time passes by I want to be holding and using crypto more than fiat. In short, I want to support this new movement as much as possible, not just make money (fiat) off it.

Edited by enrique11

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4 minutes ago, BibleChronologyXRP said:

I think it's good to cash out some crypto on a fiat bank account, because if private keys are lost:

 

1034456391.jpg

The future will bring a solution that reduces that kind of risk to a non-issue, hopefully. It has to!  This is too valuable a technology to allow such risks to continue without a satisfactory solution.

Edited by enrique11

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At least they are building product on stellar network,issuing stable coin on stellar network,these are use case on stellar network.

No FI issue fiat currencies/ stable coin on XRP ledger,they use ILP with their private ledger.   

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