Bridging the MTGOX to BTC-e divide. (Using Ripple)

PuertoLibre

legendary

Activity: 1890

Merit: 1003

Quote from: Atruk on June 03, 2013, 06:51:42 AM

Quote from: PuertoLibre on June 03, 2013, 06:49:29 AM

Quote from: redwraith on May 31, 2013, 04:52:40 PM

BTC-e would have to become a ripple gateway like Bitstamp before you could do that.

Can't a series of users themselves become a gateway?

I thought ripples main selling point was finding routes?

Problem is providing trust along those routes.

Why not just do the same thing the exchanges are doing?

Make the other person provide a deposit and THEN, issue the IOU.

Sounds like a solution? (At least until a proper gateway is implemented)

Atruk

hero member

Activity: 700

Merit: 500

Quote from: PuertoLibre on June 03, 2013, 06:49:29 AM

Quote from: redwraith on May 31, 2013, 04:52:40 PM

BTC-e would have to become a ripple gateway like Bitstamp before you could do that.

Can't a series of users themselves become a gateway?

I thought ripples main selling point was finding routes?

Problem is providing trust along those routes.

PuertoLibre

legendary

Activity: 1890

Merit: 1003

Quote from: redwraith on May 31, 2013, 04:52:40 PM

BTC-e would have to become a ripple gateway like Bitstamp before you could do that.

Can't a series of users themselves become a gateway?

I thought ripples main selling point was finding routes?

redwraith

full member

Activity: 188

Merit: 102

BTC-e would have to become a ripple gateway like Bitstamp before you could do that.

PuertoLibre

legendary

Activity: 1890

Merit: 1003

I have been reading up on ripple and while I still don't understand all the details. Is there a method to bridge the divide between BTC-e and MTGOX?

I can sell my $$$ for BTC at the lower rate at BTC-e Exchange.

I can then transfer those BTC to MTGox pretty easily. Selling the BTC for a higher USD value on MTGOX is incredibly easy as there is almost always a 10 dollar difference between the two exchanges.

But how would I go about using Ripple to Transfer those Dollars back to BTC-e without going through OkPay or any of the other standard services? I understand I'd need a gateway....but is there anyone who can give me an idea as to how to bridge this divide between the two exchanges by using the Ripple system?

Topic: Bridging the MTGOX to BTC-e divide. (Using Ripple) (Read 1930 times)