Logged Conversation (all times UTC)
[02:36] <stellar-slack> meetreks: it's like sacarlson said, a bank will also be a gateway, since that's what a gateway is, a business where you deposit your funds and they issue the credits to your wallet.
[02:37] <sacarlson> thanks kwelstr
[02:46] <stellar-slack> I really do need to understand how it works as I work in a Bank
[02:46] <stellar-slack> not convinced by the replies -- as it is pretty unusual for the bank to act as a gateway
[02:46] <stellar-slack> they usually connect to scheme gateways
[02:46] <stellar-slack> also
[02:47] <stellar-slack> lets assume the Bank is indeed the gateway
[02:47] <stellar-slack> and the bank has received 1Mn EUR
[02:47] <stellar-slack> and the server crashed
[02:47] <stellar-slack> who is responsible in this situation?
[02:47] <stellar-slack> can some one explain?
[02:48] <stellar-slack> I have a clear understanding if this happens in any of the payment schemes and where the responsibilities lies..
[02:48] <stellar-slack> but it is not very clear in this case
[02:49] <sacarlson> don't banks already have computers to serve there customers? the same issue apply
[02:50] <sacarlson> for one they can have multi redundent servers to start
[02:50] <sacarlson> you work for a bank? Your FIRED ha ha
[02:53] <sacarlson> and the good thing about Stellar and the networks like it is even if all your computers crash the accounts data is still safe in the network uncentralized
[03:11] <stellar-slack> Yes :)
[03:11] <stellar-slack> Bank :)
[03:11] <stellar-slack> I ma Mr banks
[03:11] <stellar-slack> ** am
[03:11] <stellar-slack> but
[03:12] <stellar-slack> sacarlson, the answer is pretty optimistic mate
[03:12] <stellar-slack> I am looking at a more regulatory type answer
[03:12] <stellar-slack> for Ex
[03:12] <stellar-slack> in the US
[03:12] <stellar-slack> or US
[03:12] <stellar-slack> UK
[03:12] <stellar-slack> lets say
[03:12] <stellar-slack> the whole chaps network collapased
[03:12] <stellar-slack> then
[03:12] <stellar-slack> there are regulatory frameworks
[03:13] <stellar-slack> to cover the customer
[03:13] <stellar-slack> now
[03:13] <stellar-slack> let us say
[03:13] <stellar-slack> for my Bank
[03:13] <stellar-slack> if my primary and secondary server crashed, and I got them up in 3 Hrs
[03:13] <stellar-slack> how will I trust the transactions for the last 3 Hrs
[03:14] <stellar-slack> just by the consensus reached by other players in the network for the last 3 Hrs?
[03:14] <sacarlson> that's not your problem. your banks computers will have no stop to other trading the assets stored in your bank
[03:15] <sacarlson> yes
[03:16] <sacarlson> only time your bank is used is when someone wants to convert the assets back into the fiat currency or other asset that you hold
[03:17] <sacarlson> your bank in that instance will charge a fee for the service to convert to the fiat as you will profit by it
[10:13] <stellar-slack> Can u help me to launch go-horizon? I did the instuction https://github.com/stellar/go-horizon and passed the tests so I dunno how to launch go-horizon with my own stellar-core
[12:14] <stellar-slack> hi
[12:14] <stellar-slack> what is the role of issuer in a payment transaction
[12:15] <stellar-slack> is it mandatory
[12:15] <stellar-slack> like
[12:15] <stellar-slack> If I have STR
[12:15] <stellar-slack> and I want to send STR to another address
[12:15] <stellar-slack> why must I have an address
[12:15] <stellar-slack> for the issuer
[12:20] <stellar-slack> naumenkogs: You should be able to point it at stellar core via the cli args
[12:21] <stellar-slack> `--stellar-core-db-url=` at the stellar-core postgres port `--stellar-core-url=` at the http port
[12:21] <sacarlson> meetreks no there is no issuer address for STR they are native
[12:23] <sacarlson> issuer is mandatory for all other transactions of assets other than STR
[12:31] <stellar-slack> OK
[12:32] <stellar-slack> but I guess if I transfer 100 USD to my EUR account
[12:32] <stellar-slack> the issuer can just be myself
[12:32] <stellar-slack> on the other hand
[12:33] <stellar-slack> I can go for an external issuer
[12:33] <stellar-slack> if both myself & the destination have a trust entity set up
[12:33] <stellar-slack> else issuer = mandatory but can always be me
[12:34] <sacarlson> can only be you if the one you send it to has you in a trust line
[12:35] <stellar-slack> yes
[12:35] <stellar-slack> that is correct sacarlson
[12:40] <sacarlson> meetreks I think I've also found I can't setup trades being the issuer. it may be a fault on my side. but I've had to create account the the issuer sends me credit. with that account I can setup trades or orders
[17:22] <stellar-slack> @matschaffer: just an aside,
[17:23] <stellar-slack> Is this becoming more of an IRC chatlog, or is it just me?
[17:24] <stellar-slack> ///dev
[19:48] <Kwelstr> epsilon: it is just you, we IRCers never chat >-)
[19:51] <stellar-slack> i5 / 16G / 1TB (in scumbag US) sitting idle M-m-m Max Headroom: Sh-sh-shall we, Ru-ru-ru-run some co-co-co-code?
[19:53] <stellar-slack> Why can not I embed awesomeness in this stack thingy? I have questions! (see above)
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