I am announcing that I am working with maxsolnc to create a distributed exchange for DTC using ripple. Once this is setup you will be able to trade DTC without commissions or fees using the standard ripple wallet's trade page.
I am new here, but am very active within the ripple community and have the support of Ripple Labs. Assuming that we can get a nice launch of DTC, there should be some nice press releases about this and that can only help with the popularity of DTC.
The following document explains the basics of ripple
https://ripple.com/ripple_primer.pdfI will do my best to make the whole ripple signup process as smooth as possible, but it hasn't been automated yet. I will be working on adding DTC support to my automated market maker so there will always be a competitive price quote for DTC within ripple. Since this is being done on a volunteer basis, there are no commissions being charged, no fees. Totally frictionless trading. The price you see in the order book is what you get.
In order to trade on Ripple, you will need a ripple wallet, which you can get in 2 minutes from
https://ripple.com/client/#/registerYou will also need 20XRP (~ $0.50 USD) to activate your account, but in order to make this as easy as possible, I will be sending the 20XRP to any account that deposits more than 10 DTC. Only once per person please! What we will be trading is DTC issued by maxsolnc himself. I will simply combine all the DTC deposited and send it to him, he will then send me the ripple DTC that will get distributed.
Once you have the DTC within ripple, you are ready to sell it.
If you want to simply purchase it, you can do it without doing any deposits if you get enough XRP and there are plenty of ways to do that.
To redeem your DTC, you can simply convert it to something else or sell it on the order book. If you want to receive the actual DTC, you can redeem it by returning it along with your DTC address and you will receive the DTC.
Ripple is a bit more complicated than most systems, but the advantage is that once we get a real market going with DTC, we will be able to automatically convert it to any currency within ripple, including BTC, USD, CNY, etc. using the send command. Transactions take a few seconds, and it uses a distributed ledger, so no centralized exchange that is vulnerable to a Ddos attack.
I will post more details as we get closer to launch. We will start with a small scale beta test and depending on the response, I might even start working on automating the whole deposit/withdrawal process. I know that is what everybody really wants.
Thanks for your support!
James Lee
I hope this will end good for both!
I would make it half the size. Of course so that we can read it clearly though!
or whatever
