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Author Topic: activating Stella before use why?  (Read 4184 times)

Offline Thanos

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activating Stella before use why?
« on: May 14, 2018, 07:16:46 PM »
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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activating Stella before use why?
« on: May 14, 2018, 07:16:46 PM »

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Offline Official_BlockFolks

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Re: activating Stella before use why?
« Reply #1 on: July 12, 2018, 07:58:06 PM »
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.

Offline troiano9

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Re: activating Stella before use why?
« Reply #2 on: July 15, 2018, 07:50:16 PM »
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?

Offline natmuller68

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Re: activating Stella before use why?
« Reply #3 on: July 16, 2018, 05:27:33 PM »
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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Offline laughingburger

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Re: activating Stella before use why?
« Reply #4 on: July 25, 2018, 06:16:25 AM »
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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Offline Richa99

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Re: activating Stella before use why?
« Reply #5 on: July 31, 2018, 07:10:49 AM »
it is true that such use will lead to price reductions, and we should avoid something that leads to price reductions.

Offline altcoingamer

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Re: activating Stella before use why?
« Reply #6 on: July 31, 2018, 07:20:21 AM »
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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Re: activating Stella before use why?
« Reply #6 on: July 31, 2018, 07:20:21 AM »


Offline natmuller68

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Re: activating Stella before use why?
« Reply #7 on: July 31, 2018, 12:28:13 PM »
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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Offline Gunung_ulo

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Re: activating Stella before use why?
« Reply #8 on: August 02, 2018, 08:49:06 AM »
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.

Offline inewoods

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Re: activating Stella before use why?
« Reply #9 on: August 02, 2018, 06:51:11 PM »
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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Offline Dinid

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Re: activating Stella before use why?
« Reply #10 on: August 13, 2018, 09:19:43 PM »
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.

Offline natmuller68

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Re: activating Stella before use why?
« Reply #11 on: August 13, 2018, 09:51:02 PM »
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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Offline Dinid

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Re: activating Stella before use why?
« Reply #12 on: August 13, 2018, 10:19:49 PM »
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.

Offline ICOcrypto

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Re: activating Stella before use why?
« Reply #13 on: August 21, 2018, 10:11:33 AM »
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.

Offline Dinid

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Re: activating Stella before use why?
« Reply #14 on: August 21, 2018, 10:05:06 PM »
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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