A simple explanation of how money moves around the banking system (2013)

Re:A simple explanation of how money moves around the bankin... by rebelidealist on Thursday April 09, 2015 @07:07PM (#9351613)

This is the problem that Stellar (https://stellar.org) can solve better than Bitcoin. Unlike Bitcoin which takes 10-30 minutes to confirm transactions, Stellar takes seconds with its new consensus system (https://medium.com/a-stellar-journey/on-worldwide-consensus-...). This eliminates the need for mining which consumes a exorbitant amount of electrical energy. Stellar is also built to work with a diverse set of currencies (USD, EUR, CNY, BTC etc).

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Re:A simple explanation of how money moves around the bankin... by o-0 on Friday April 10, 2015 @09:08AM (#9354009)

I'd bet my money on ripple instead of stellar. RL is more professional and has much better personal resources. From Stellar Foundation I've seen only a chain of fails - initial distribution using facebook, modifying consensus and blaming RL for breaking it, STR auction, promised&undelivered STR distribution to BTC&XRP holders, community communication, mccalebs secret bitcoin projects revealed as just a ripple fork with no real innovation..

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Re:A simple explanation of how money moves around the bankin... by rebelidealist on Friday April 10, 2015 @08:19PM (#9357831)

Ripple Labs is strong in the business development side. Stellar's new consensus system is very much different from Ripple's. I would say the Stellar's FB distribution is a major win since over 4 million people have signed up.

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