Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Stellar Forum => Topic started by: Thanos on May 14, 2018, 07:16:46 PM
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So I created a Stella wallet and was told to activate with at lease 5 lumen. Is that not crazy, if they continue with this the use of Stella base token will decline.
What's your opinion on this
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That is also why some people tell me that this is too troublesome and would not want to try out stellar.
It definitely has it good and bad. The benefit of the 5xlm is to prevent spam of add. This will also provide some level of authenticity of the ownership of one's stellar account. This will create a drop in supply as well and in the long run, this will push up the prices.
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Its not a big deal to me. Ripple used to need 20 to start. Not sure if they still do.
Can you open a bank account with zero dollars?
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So I created a Stella wallet and was told to activate with at lease 5 lumen. Is that not crazy, if they continue with this the use of Stella base token will decline.
What's your opinion on this
Hi Thanos,
why we need to activate a wallet with stella i dont understand can you explain me what is this ?
Thanks.
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So I created a Stella wallet and was told to activate with at lease 5 lumen. Is that not crazy, if they continue with this the use of Stella base token will decline.
What's your opinion on this
I also find this rule funny, but now stellar is still cheap so it is ok and the money is still in our wallet. However in long term wise if stellar is able to achieve a higher price just from activating a stellar wallet already require a user to put it quite an amount of XLM coins. I does not know but this might be a good move by stellar since crypto users already take the hassle in putting XLM coins into the wallet they might be using it more often.
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it is true that such use will lead to price reductions, and we should avoid something that leads to price reductions.
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Its not a big deal to me. Ripple used to need 20 to start. Not sure if they still do.
Can you open a bank account with zero dollars?
That's a good point.. butwe live in a copycat society where the majority set many precedents. I don't think its a good idea to have intro fees or wallet minimums for coins when 99% of this space doesn't do this.
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Its not a big deal to me. Ripple used to need 20 to start. Not sure if they still do.
Can you open a bank account with zero dollars?
That's a good point.. butwe live in a copycat society where the majority set many precedents. I don't think its a good idea to have intro fees or wallet minimums for coins when 99% of this space doesn't do this.
Sorry altcoingamer,
What is the correlation with copycat society and the activation of a wallet i dont understand.
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indeed it can happen, and I don't think it needs to be done because it's very dangerous in the future, it's better if we just look for safety.
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When someone is require to fork out money on his end he will value that item more. This might be what the stellar want to promote to their wallet.
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Hello, currently you can activate your wallet by just send 1.6 xlm. If you want do more, better if you have 5xlm or more in your xlm wallet.
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Hello, currently you can activate your wallet by just send 1.6 xlm. If you want do more, better if you have 5xlm or more in your xlm wallet.
Why it's bette rif we have more than 5 xlm in our wallet. It is only for activating the wallet ? Thanks.
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Why it's bette rif we have more than 5 xlm in our wallet. It is only for activating the wallet ? Thanks.
Hello, all stellar accounts must maintain a minimum balance of lumens. Any transaction that would reduce an account’s balance to less than the minimum will be rejected with an INSUFFICIENT_BALANCE error.
✓ The minimum balance is calculated using the base reserve, which is 0.5 xlm currently
Here is the formula :
(2 + # of entries) × base reserve
The minimum balance for a basic account is 2 × base reserve. Each additional entry costs the base reserve. Entries include:
✓ Trustlines
✓ Offers
✓ Signers
✓ Data entries
For example, an account with 1 trustline and 2 offers would have a minimum balance of (2 + 3) × base reserve = 2.5 XLM.
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In fact i love this. This is to prevent spam and control the number of legit ownership. On the other hand, after you activate it, the min req in the account is lesser. So you can shift your xlm around after that.
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In fact i love this. This is to prevent spam and control the number of legit ownership. On the other hand, after you activate it, the min req in the account is lesser. So you can shift your xlm around after that.
I don't think it can prevent spam.
Stellar is still cheap, 5 xlm is reachable to buy. Only around $1 - $1.5.
It is very possible the spammer have many stellar wallet to cheat the bounty.
There are many peoples who have hundreds (or maybe 1000 or more) stellar active wallets.
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So I created a Stella wallet and was told to activate with at lease 5 lumen. Is that not crazy, if they continue with this the use of Stella base token will decline.
What's your opinion on this
I disagree with this. Why pay first before using? For me, I'll rather choose other altcoin in investing.
Or if they can't get away with this fee at least they provide some free crypto trial or somewhat like that.
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So I created a Stella wallet and was told to activate with at lease 5 lumen. Is that not crazy, if they continue with this the use of Stella base token will decline.
What's your opinion on this
I disagree with this. Why pay first before using? For me, I'll rather choose other altcoin in investing.
Or if they can't get away with this fee at least they provide some free crypto trial or somewhat like that.
Hello I think, same case on ethereum and other altcoin. We must buy first ethereum to fill our eth wallet. If there is no ethereum balance on our wallet, then we cannot make transactions ( cannot send tokens).
But there is a difference between stellar and ethereum, ethereum does not need a trustline to receive tokens, and can receive tokens although there is no eth balance in it. And eth wallet no need activation. 👍
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So I created a Stella wallet and was told to activate with at lease 5 lumen. Is that not crazy, if they continue with this the use of Stella base token will decline.
What's your opinion on this
I disagree with this. Why pay first before using? For me, I'll rather choose other altcoin in investing.
Or if they can't get away with this fee at least they provide some free crypto trial or somewhat like that.
Hello I think, same case on ethereum and other altcoin. We must buy first ethereum to fill our eth wallet. If there is no ethereum balance on our wallet, then we cannot make transactions ( cannot send tokens).
But there is a difference between stellar and ethereum, ethereum does not need a trustline to receive tokens, and can receive tokens although there is no eth balance in it. And eth wallet no need activation. 👍
yah i agree, people are forgetting that you need gas to do transaction in eth too. So if you dont have any eth, you cant even do anything at all.
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I think so too and I think it can be very influential on the decline in retail prices, but we can take the opportunity to buy lots of steel if the price goes down in price and hold it up again.
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I think this is not very good, but we can take the opportunity if the price goes down, and we can take the opportunity to buy more Stellar coins and hold them.
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yes it's true that it's crazy, and I think it can indeed affect the decline in Stellar prices going forward.
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Why it's bette rif we have more than 5 xlm in our wallet. It is only for activating the wallet ? Thanks.
Hello, all stellar accounts must maintain a minimum balance of lumens. Any transaction that would reduce an account’s balance to less than the minimum will be rejected with an INSUFFICIENT_BALANCE error.
✓ The minimum balance is calculated using the base reserve, which is 0.5 xlm currently
Here is the formula :
(2 + # of entries) × base reserve
The minimum balance for a basic account is 2 × base reserve. Each additional entry costs the base reserve. Entries include:
✓ Trustlines
✓ Offers
✓ Signers
✓ Data entries
For example, an account with 1 trustline and 2 offers would have a minimum balance of (2 + 3) × base reserve = 2.5 XLM.
thank you for giving a detailed explanation about Stellar,
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it's true that maybe it's not good, but I don't think that is too much of a problem, and I still believe that prices will be able to recover and increase quickly in the future.