Topic: Archived - page 2. (Read 14305 times)
I have been playing with the system (the ripple/XRF thing as a whole) for few days. What I think at this point is there is a long way to go. This is way too complex for average joe to understand. There needs to a paradigm shift in usability aspects. I have seen multiple brilliant and technical concept/project fail due to requiring expert user.
To get en-mass adaptation lot of work remaining.
I thank chriswen wholeheartedly, because of who I was able to get into this experimentation and study. I hope ripple system take off, as there are lots of potential - however - the plus side of this gaping hole in usability means lots of new ideas and ideas for startup to serve the newfound community.
How would you recommend I gain trust?
Come up with a sound and foolproof business plan on how you are going to keep the gateway operational long term. Instead of just leaving the prospect of stealing everyone's coins once you get bored with the project and disappearing into the ether.
Is this just a proof of concept idea or do you plan to maintain the gateway forever. Otherwise why should anyone value your gateways trust of that above any other internet user.
Yes, I wish to maintain the gateway into the foreseeable future.
Yup, the whole point is that I'm supposed to be trustworthy. You can trust that I have reserves to back the litecoins. Also, after a website gets implemented it would be easier to cashout ltc from my gateway. This way you can give ltc that have a lot more value to them.
Well I'm not being funny but I don't trust you (yet) and I barely even trust BITSTAMP. So you'll have to show users/customers that you are in for the long term and aren't just going to rob everyone once you have got bored of your new project. I'm not trying to spread FUD on your idea as I run a small BTC and a small LTC investor projects that have required a lot of trust in me. So wish you luck but as being the only LTC gateway (yet) doesn't enable me trust you with my LTC.
okay, that's why i said to just do a small amount for now.
You'll have to show a business plan that proves it stupid of you to rob depositors to gain any traction. Otherwise you should be definitely be stating "don't deposit any more than you can risk to loose".
Is this just a proof of concept idea or do you plan to maintain the gateway forever. Otherwise why should anyone value your gateways trust of that above any other internet user.
Yes, I wish to maintain the gateway into the foreseeable future.
Yup, the whole point is that I'm supposed to be trustworthy. You can trust that I have reserves to back the litecoins. Also, after a website gets implemented it would be easier to cashout ltc from my gateway. This way you can give ltc that have a lot more value to them.
Well I'm not being funny but I don't trust you (yet) and I barely even trust BITSTAMP. So you'll have to show users/customers that you are in for the long term and aren't just going to rob everyone once you have got bored of your new project. I'm not trying to spread FUD on your idea as I run a small BTC and a small LTC investor projects that have required a lot of trust in me. So wish you luck but as being the only LTC gateway (yet) doesn't enable me trust you with my LTC.
Is this just a proof of concept idea or do you plan to maintain the gateway forever. Otherwise why should anyone value your gateways trust of that above any other internet user.
chriswen: This is awesome! I just trusted your gateway and I'm looking to buying some LTC and playing around with the system. Did you need to set up a rippled server to get your gateway started?
I'm in, let's try!
Set order 10 LTC for 100 XRP
Set order 10 LTC for 100 XRP
Yeah, if you did the wrong one set it to 0 then you can set up another credit line.
And if you wanted to do another currency pair you could use bitstamp BTC or bitstamp USD or weex USD , etc...
And if you wanted to do another currency pair you could use bitstamp BTC or bitstamp USD or weex USD , etc...
Let me know when you are online and we can continue with the LTC experiment.
Now that my balance dropped to 299 XRP, I cannot grant trust :-( ... and I mistakenly added chriswen's other ripple address to trust instead of the gateway. Need 2 XRP to get upto speed.
If you set the trust to 0 for a contact, it frees the XRP reserves for that trust line.
Now that my balance dropped to 299 XRP, I cannot grant trust :-( ... and I mistakenly added chriswen's other ripple address to trust instead of the gateway. Need 2 XRP to get upto speed.
Awesome! Thanks a ton - I could add chriswen's gateway address now to trust. Will do the rest tomorrow.
Also added rDihBcUrrfDwUBZWBcuP2z5n47KVLQFNQH as LTC/XRP gateway provide, and orderbook showed up. I think I am seeing bids placed by you :
For LTC/XRP:
Order book
Sum
LTC
Amount
LTC
Bid Price
XRP
100 100 100.00
101 1 1.00
Ask Price
Amount
Sum
There are currently no asks for this pair.
For LTC/BTC:
Order book
Sum
LTC
Amount
LTC
Bid Price
BTC
25 25 0.0080
26 1 0.0001
Ask Price
Amount
Sum
There are currently no asks for this pair.
Cool - so the concept works! :-)
Now that my balance dropped to 299 XRP, I cannot grant trust :-( ... and I mistakenly added chriswen's other ripple address to trust instead of the gateway. Need 2 XRP to get upto speed.
Now that my balance dropped to 299 XRP, I cannot grant trust :-( ... and I mistakenly added chriswen's other ripple address to trust instead of the gateway. Need 2 XRP to get upto speed.
Great, I can see two pairs: LTC/XRP & LTC/BTC, both order books seems to be empty, so I went ahead and created two orders.
Looks like it allows me to sell BTC for LTC, even though I have zero balance in BTC?
Looks like it allows me to sell BTC for LTC, even though I have zero balance in BTC?
How did you get those pairs ? Did you create them ? Did you add chriswen's gateway address ?
Great, I can see two pairs: LTC/XRP & LTC/BTC, both order books seems to be empty, so I went ahead and created two orders.
Looks like it allows me to sell BTC for LTC, even though I have zero balance in BTC?
Looks like it allows me to sell BTC for LTC, even though I have zero balance in BTC?
Actually you can just type in the selection box - delete/backspace the current option and write LTC - I also stumbled in this step.
Then again, when I granted the trust, it was waiting and waiting and I clicked on stop waiting. Let's see if it worked once chris is back tomorrow (he went to bed)
thanks! never thought the list can be changed Then again, when I granted the trust, it was waiting and waiting and I clicked on stop waiting. Let's see if it worked once chris is back tomorrow (he went to bed)
My trust request was immediately granted, interesting.
I tried second time, and now things worked fine. May be a temporary glitch in the network - either my side or the server side.
Actually you can just type in the selection box - delete/backspace the current option and write LTC - I also stumbled in this step.
Then again, when I granted the trust, it was waiting and waiting and I clicked on stop waiting. Let's see if it worked once chris is back tomorrow (he went to bed)
thanks! never thought the list can be changed Then again, when I granted the trust, it was waiting and waiting and I clicked on stop waiting. Let's see if it worked once chris is back tomorrow (he went to bed)
My trust request was immediately granted, interesting.
Interesting! After refunding jar's 300 XRP, and trusting chriswen for 2LTC, my balance dropped to 299XRP, and got a low XRP warning ! :-)
Actually you can just type in the selection box - delete/backspace the current option and write LTC - I also stumbled in this step.
Then again, when I granted the trust, it was waiting and waiting and I clicked on stop waiting. Let's see if it worked once chris is back tomorrow (he went to bed)
Then again, when I granted the trust, it was waiting and waiting and I clicked on stop waiting. Let's see if it worked once chris is back tomorrow (he went to bed)
tried to follow those steps but:
>>>>> 3. Trust my gateway account rDihBcUrrfDwUBZWBcuP2z5n47KVLQFNQH Trust me with x amount of LTC.
How could I do that, when "LTC" doesn't appear in the pull-down list?
All I am seeing in the list are BTC and bunch of fiat units.
If you don't mind, can you share with us how you setup your LTC gateways? I am very interested to know.
>>>>> 3. Trust my gateway account rDihBcUrrfDwUBZWBcuP2z5n47KVLQFNQH Trust me with x amount of LTC.
How could I do that, when "LTC" doesn't appear in the pull-down list?
All I am seeing in the list are BTC and bunch of fiat units.
If you don't mind, can you share with us how you setup your LTC gateways? I am very interested to know.
I think I am kind of getting this now. Are there known USD/XRP gateways ? What is the exchange rate now for LTC/XRP ?
I just have 2 LTC (yes, I know only 2 LTCs
) - I can use that to test your system if it is ok with you. I am very new to all these, and although I did purchase few BTCs, I could only mine 2 LTCs using my PC (quad core), running for 1 wk/24 hrs :-)Jump to: