do you have a link to the peercover orderbook?
I was a little wary of it since /simpleGateway reads "Connect your wallet to see balances and trade currencies."
But even when you do that no orderbook updates... Unless it's dead. When james posted it saying there were 250k nxt on the books I didn't see a thing
Yeah, on the left-hand side under Wallet is it asks for Ripple wallet address. Enter that. It just wants to see how many funds you have to trade, I think. It can't touch your funds -- no different than having your NXT address in your sig, for example.
Underneath that, it asks for your Ripple secret key. My response was
no fucking way.
But it still works without the secret key.
I can only see XRP/NXT book. I don't want to touch XRP... my head is going to explode.
NXT/XRP is a lot more stable than NXT/BTC. I offered to make market in NXT/BTC but nobody seemed to actually want it and a market in NXT/XRP formed. I could even make a market in NXT/USD, but no point if nobody is there.
If we had enough buyers and sellers who all agreed to trade NXT/BTC, then an orderbook will form. Chicken and egg problem. Can't get traders without orderbook, can't get orderbook without traders. It would be a lot simpler if we traded NXT/BTC, then nobody has to ever touch XRP and you can still trade NXT. Just deposit BTC if you are buying and just deposit NXT if you are selling. No need to convert to XRP or convert from XRP. Converting from XRP to BTC is just a matter of sending it to a bitcoin address, it automatically converts it. Going from BTC to XRP is a bit trickier, especially if you don't have a bitstamp acct.
The solution is for enough traders to agree to trade NXT/BTC and use peercover as the issuer for both. Then it is simple. Deposit BTC to buy, deposit NXT to sell. You can use ripple's wallet trade page if you are not comfortable putting in ripple secret into browser. A bit more work to setup the NXT/BTC pair with peercovers ripple address, but not that bad.
I tried to get a trade page that simplified things, but as people have said ripple is a bit more complicated that normal.
James
Great... and now he wants to take the money back from the users from his own mistake....
He was initially charging 1.4% for bitcoin cashouts, with a little patience he was going to take his 800k NxT back really soon... Not to metion how much he earned before with this fee.
Anyone knows how much NxT owns personally Graviton?