I created a ripple wallet on peercover.
Do we need to create a Ripple wallet on ripple.com too?
My address is rErGtTgdEoRba1d6vYF2kCHw3oX6Y9Wt5x on peercover
and raFuoeBgpSFtGKdJA3wBbgFTqG2fzx8bwQ on ripple.com
and how can i deposit some NXT?
Topic: NXT :: descendant of Bitcoin - Updated Information - page 1892. (Read 2761645 times)
Graviton; are you here for the long term or the short term?
If long term, lower your fees now, they are extraordinarily high. Can anyone tell me any other exchange that has fees this high?
Do you believe in Nxt and what it stands for? Then help make it grow and keep your fees below 0.5% (which is still alot). Help attracting new users instead and increase the value of Nxt, which will give you a bigger return than what you're doing now. If you don't, your site will slowly start dying and soon will be forgotten. Unfortunately.
If long term, lower your fees now, they are extraordinarily high. Can anyone tell me any other exchange that has fees this high?
Do you believe in Nxt and what it stands for? Then help make it grow and keep your fees below 0.5% (which is still alot). Help attracting new users instead and increase the value of Nxt, which will give you a bigger return than what you're doing now. If you don't, your site will slowly start dying and soon will be forgotten. Unfortunately.
The main and the reserve dgex.com accounts hold 87.684.644 NXT. 1,2% withdrawl of that is 1.052.215 NXT which is about 87 BTC, about 76.438 US$. Plus the withdrawal fees for the unknown BTC balances....
I think he is there for the short term and cashing out.
Bertolt Brecht said: 'What is the robbing of a bank compared to the founding of a bank?'
The only cost is because people are not using peercover's ripple gateway. If we used it, spreads will come down. The high spread is the only cost and that is because people are not using it.
James
how does Peercover make a profit if it's all free to trade there?
It is chicken and egg. If we just started trading peercover NXT/BTC on ripple, there will be liquidity. We don't need to worry about any other thing trading on ripple. NXT/BTC is like a colored coin that is just using ripple for exchange.
Because NXT is introducing its own system of colored coins through Distributed Assets Exchange soon, using Ripple to trade NXT hurts value of NXTs they hold. Ripple and NXT are more competitors than Bitcoin and NXT are. So, anyone who wants NXT to succeed should not use Ripple to trade NXT. Are my assumptions wrong? If they are wrong, why?
ripple is to NXT as classical music is to grunge rock
both are music, even though each group will claim the other group is not. It is my assessment that they can both coexist peacefully and advantageously to each other. A symbiosis.
If you ever want to convert NXT to USD, ripple makes it trivially easy. Maybe you don't want to, you don't have to. ripple is oriented toward being the cross currency payment system. NXT as you know is quite a bit more than that. Is there overlap, sure, probably around 5%. Gee, that's about what dgex is charging isn't it. Keep paying dgex usurious fees or trade on ripple without cost.
The only cost is because people are not using peercover's ripple gateway. If we used it, spreads will come down. The high spread is the only cost and that is because people are not using it.
James
I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.
Agree. I see no future in Ripple. The same old thing.
Regardless of its future we can trade NXT/BTC without fees, now. Not the future. Peercovers business model is long term and based on forging fees.
As much as people say they don't like ripple, I see a lot in common between them, but let's not get into some sort of debate over if it has a future or not. Not really the point. ripple is here to stay, so is NXT. Why not utilize ripple for what it is able to do?
James
P.S. I forgot 20XRP is the minimum, you need 30XRP to start trading. I will send 30XRP to anybody that needs it. Just send me back 10NXT or .001 BTC or the 30 XRP when you are setup
How much of the ripples does the company hold?
DGEX is a business and they can charge anything they want. BUT accepting deposits under the pretense of a 0% withdrawal fee and then changing that to a 1.2% withdrawal fee after the deposits have been received and with no notice is just WRONG.
Agreed, Dgex is dominating the forum right now with a lot of negativity, perhaps we should move this over to the trading forum and focus on the code release.
I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.
Agree. I see no future in Ripple. The same old thing.
Why? Is this because it is centralized or something else?
Yes it is centralized. It is like Google of Facebook inventing an electronic payment system and offer you to use. It has been a year and it gains no traction at all which is pretty bad for a start-up. But it is not the main reason I am not enthusiastic.
To be honest, after bitcoin there is no excitement in a pure payment system anymore.
In NXT, I see a more exciting future in a decentralized stock market, alias system, a secure message and voting system. These things are innovative. Being a payment system is a nice add-on but it is no longer 2008, you can't just re-invent the wheel and make people excited.
PLEASE do not spread misinformation, about ripple or anything else.
ripple has some centralized aspects, but if we just use ripple for trading platform and avoid any XRP trading, it is simply an exchange. Actually a distributed exchange.
I am not saying use ripple for all its features, just for trading the specific NXT/BTC pair. No XRP conversions, you don't have to get tainted with ripple's corporate ooze
James
Dgex is slow as hell to release funds, but they will be fast as hell to take a huge cut.
http://www.nxtchg.com
Dgex alternative
http://www.nxtchg.com
Dgex alternative
what are the fees associated there? I cant seem to find any info page on the main site there, just a create account or login links
Deposited some to allow liquidity.
Graviton you are cutting my eggs! Why? Why so hight fee for us?? Remove buy/sell fees!!
Regardless of its future we can trade NXT/BTC without fees, now.
I respect your initiative to offer the community an alternative to exchange/purchase NXT, but I believe you need to inform them better on the whole XRP conversion and how it relates to their trading. In certain cases that might actually be considered a fee in itself. Of course, in a highly liquid market, which is not true in this scenario at the moment, it could work in a trader's favor.
We trade NXT/BTC there is NO need for XRP conversions.
I am taking care of the ripple newbies, not out to gouge them or trick them with large spreads
James
DGEX is a business and they can charge whatever they want. BUT accepting deposits under the pretense of a 0% withdrawal fee and then changing that to a 1.2% withdrawal fee after the deposits have been received and with no notice is just WRONG.
Trading platform function is obsolete..
1.4% NXT withdrawal fee wait 3~24 H
Where the NXT main function p2p Asset Exchange now?
1.4% NXT withdrawal fee wait 3~24 H
Where the NXT main function p2p Asset Exchange now?
P.S.Peercover was willing to invest in all the development, NXT leakage, etc. and be in it for the long term forging revenue model. Actions speak louder than words. Support the company that supports the NXT community.
James - what is the minimum XRP that needs to be in the reserve to trade on Peercover? I just opened a wallet and am unfunded atm.
You need 20XRP. Send me your wallet address I will send it to you. You can repay me in NXT in my sig or via ripple send to rfHFcdmZgUKAFVYCaWWfYni6q8H7wLhFXr
For those who don't know in ripple you can send NXT or anything to another person and it will automatically show you a selection of what you have in your wallet that would convert to the desired amount
James
can you give us ripple dummies a quick 1,2,3 step by step of getting USD/EUR/etc into the ripple network to buy XRP? Then I assume it operated like a normal exchange from there?
I would recommend starting with BTC and NXT. There are plenty of fiat gateways (including peercover) but with the usual paperwork delays.
Step 1: create ripple acct
Step 2: post your ripple address and I will send you 30 XRP
Step 3: goto simpleGateway and deposit BTC (need to add trustline for this)
Step 4: goto ripple wallet trade page and select NXT/BTC with peercover ra9eZxMbJrUcgV8ui7aPc161FgrqWScQxV as issuer
Step 5: enjoy frictionless trading by submitting buy and sell orders
James
P.S. Step 6, send me back my 30XRP or .001 BTC or 10NXT
There's no liquidity on peercover for XRP/BTC either. Looks like if you have anything in NXT right now it's a sitting duck for the time being.
It is chicken and egg. If we just started trading peercover NXT/BTC on ripple, there will be liquidity. We don't need to worry about any other thing trading on ripple. NXT/BTC is like a colored coin that is just using ripple for exchange.
If we get people trading this on ripple, the spreads will become smaller and remember there are no fees, so if you can't get a trade you like, just withdraw.
there is now over 50,000 NXT available in the NXT/XRP orderbook, only my 1000 NXT/BTC
spread is 2.85/3 XRP. Not great, but not bad.
All we need is more inventory. Then again, we could just pay dgex all our NXT in fees, is that better than getting dirty with ripple?
James
Graviton; are you here for the long term or the short term?
If long term, lower your fees now, they are extraordinarily high. Can anyone tell me any other exchange that has fees this high?
Do you believe in Nxt and what it stands for? Then help make it grow and keep your fees below 0.5% (which is still alot). Help attracting new users instead and increase the value of Nxt, which will give you a bigger return than what you're doing now. If you don't, your site will slowly start dying and soon will be forgotten. Unfortunately.
If long term, lower your fees now, they are extraordinarily high. Can anyone tell me any other exchange that has fees this high?
Do you believe in Nxt and what it stands for? Then help make it grow and keep your fees below 0.5% (which is still alot). Help attracting new users instead and increase the value of Nxt, which will give you a bigger return than what you're doing now. If you don't, your site will slowly start dying and soon will be forgotten. Unfortunately.
It is chicken and egg. If we just started trading peercover NXT/BTC on ripple, there will be liquidity. We don't need to worry about any other thing trading on ripple. NXT/BTC is like a colored coin that is just using ripple for exchange.
Because NXT is introducing its own system of colored coins through Distributed Assets Exchange soon, using Ripple to trade NXT hurts value of NXTs they hold. Ripple and NXT are more competitors than Bitcoin and NXT are. So, anyone who wants NXT to succeed should not use Ripple to trade NXT. Are my assumptions wrong? If they are wrong, why?
price @8500. great dgex!!!!11 
I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.
Agree. I see no future in Ripple. The same old thing.
Why? Is this because it is centralized or something else?
Yes it is centralized. It is like Google of Facebook inventing an electronic payment system and offer you to use. It has been a year and it gains no traction at all which is pretty bad for a start-up. But it is not the main reason I am not enthusiastic.
To be honest, after bitcoin there is no excitement in a pure payment system anymore.
In NXT, I see a more exciting future in a decentralized stock market, alias system, a secure message and voting system. These things are innovative. Being a payment system is a nice add-on but it is no longer 2008, you can't just re-invent the wheel and make people excited.
Dgex is slow as hell to release funds, but they will be fast as hell to take a huge cut.
http://www.nxtchg.com
Dgex alternative
http://www.nxtchg.com
Dgex alternative
what are the fees associated there? I cant seem to find any info page on the main site there, just a create account or login links
I created a ripple wallet on peercover.
Do we need to create a Ripple wallet on ripple.com too?
My address is rErGtTgdEoRba1d6vYF2kCHw3oX6Y9Wt5x
and how can i deposit some NXT?
Do we need to create a Ripple wallet on ripple.com too?
My address is rErGtTgdEoRba1d6vYF2kCHw3oX6Y9Wt5x
and how can i deposit some NXT?
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