Could it be other people's exchanges on the markets are Rippling through you?
(A rhetorical question, in the sense that that its not you I am really attempting to elicit an answer from.)
-MarkM-
Topic: ripple: let's test it! - page 24. (Read 43943 times)
So, something weird happened (basically a trade I didn't want or order):
this is my current order book. Notice the last order I entered about 1-2 hours ago:
Doesn't that last line indicate I want to "buy 0.01 BTC at a price of 1000 XRP/BTC"?
I see some notifications:
But most notably I have now 690 more XRP and 0.069 BTC less in my wallet. So I sold BTC.
Why don't trade transactions show in the wallet history? There is absolutely no indication that a trade happened other than that my balances magically changed. That's pretty intransparent, I'd say.
Most importantly: the trade seems to have happened the other way around from what I would've expected. My intention was to sell XRP and buy BTC. I'm confused.
And also: if this was acutally the order I entered being executed, then the price is off by a factor of 10: 690 XRP / 0.069 BTC = 10,000 XRP/BTC.
------------
just to make sure I understood the displayed order correcly, I just entered another order:
that clearly says I want to buy BTC.
and it looks like the order I entered before (that seems to have resulted in a sale of BTC)
Ergo my original order was also to buy BTC, sell XRP.
-------------
any ideas / explanations?
this is my current order book. Notice the last order I entered about 1-2 hours ago:
Doesn't that last line indicate I want to "buy 0.01 BTC at a price of 1000 XRP/BTC"?
I see some notifications:
But most notably I have now 690 more XRP and 0.069 BTC less in my wallet. So I sold BTC.
Why don't trade transactions show in the wallet history? There is absolutely no indication that a trade happened other than that my balances magically changed. That's pretty intransparent, I'd say.
Most importantly: the trade seems to have happened the other way around from what I would've expected. My intention was to sell XRP and buy BTC. I'm confused.
And also: if this was acutally the order I entered being executed, then the price is off by a factor of 10: 690 XRP / 0.069 BTC = 10,000 XRP/BTC.
------------
just to make sure I understood the displayed order correcly, I just entered another order:
that clearly says I want to buy BTC.
and it looks like the order I entered before (that seems to have resulted in a sale of BTC)
Ergo my original order was also to buy BTC, sell XRP.
-------------
any ideas / explanations?
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
So I went to Bitstamp and set up an account, but when I go to the ripple page it says I need to add trust to a ripple address, but it is just linking to the ripple homepage instead of saying what their ripple address is, anybody know what is going on with that?
Community credit ought to kill most currencies, if it worked. Not just bitcoins, not just XRP. All the fiats too.
There are a lot of challenges to making this happen and I have to admit it's a long shot and will take a long time under the best imaginable scenario, but it could radically change the way people think about money.and in the end, if everyone uses ripple... POOF: no need for real money?
Real what?
What is this "real money" of which you write?
-MarkM-
I know, right? Scarce commodity? So what? We don't need that. So maybe ripple is a bitcoin killer (in the long, long run) after all.
Ripple is not the killer, XRP (Ripples) are. Or at least, before Ripple is, Ripples are.
Eventually community credit could depress the price of XRP, but as long as it is Ripple-based community credit it will have to use XRP just to function. So it would then take a new community credit system to actually kill the XRP. I wonder what its spam-prevention system will be.
Community credit ought to kill most currencies, if it worked. Not just bitcoins, not just XRP. All the fiats too.
-MarkM-
For those interested in getting a better idea of what Ripple transaction and ledger structures look like, I've made available a recent ledger with all account information, a transaction as formed, and a transaction as applied into a ledger. They're all in the JSON format that the client uses.
http://goo.gl/GfoZW
http://goo.gl/GfoZW
there are definitely orders being created automatically somehow. Just woke up (so I did definitely not do anything in my ripple client four hours ago, I was asleep):
It is a client bug. There's a fix in the repository, but I don't think it has been tested and pushed to the public server. You're seeing offers that involve you in some indirect way (say, offering or requesting your IOUs) and the client is telling you that you placed them.
One area where ripple could shine is microtransactions. Being instant and free has its advantages over waiting 60 minutes for a block to propagate.
Also could take load off the blockchain that can maybe only do 7 tx/s
and in the end, if everyone uses ripple... POOF: no need for real money?
Real what?
What is this "real money" of which you write?
-MarkM-
I know, right? Scarce commodity? So what? We don't need that. So maybe ripple is a bitcoin killer (in the long, long run) after all.
what need is there for an exchange with ripples built-in exchange system. mtGox will be degraded to just being a fiat gateway, no?
If you had any real world realistic idea of how much crap is involved in "just being a fiat gateway" you would be glad to know all our so crucial to our whole ecosystem fiat gateways, our major ports through which so much of the trade between the real online world and the real meatspace world passes, can leave "price discovery" to others so they can devote their full energies to making sure our virtual<->meatspace trade-routes remain open.
-MarkM-
oh yes, it wasn't my intention to downplay the "fiat gateway" function. It's crucial (at least at this point) and kudos and karma to gox and the others doing it.
I was just trying to say: mtGox might lose its lucrative exchange business and be left with supplying the hopefully also lucrative fiat gateway function only. MtGox might not be especially happy about that and maybe for that reason might not even consider becoming part of the ripple universe.
I grant trust to molecular with 100 usd, but I have only 0.5 in my ripple acc now
You sure you want to do that? That means that if you ever hold USD in the system, molecular or someone else can take them from you and in exchange give you molecular IOUs, which he is under no obligation to honor.How exactly would we (I) do that?
I grant trust to molecular with 100 usd, but I have only 0.5 in my ripple acc now
You sure you want to do that? That means that if you ever hold USD in the system, molecular or someone else can take them from you and in exchange give you molecular IOUs, which he is under no obligation to honor.hey man, are you questioning my integrity?!?
^ this was clearly a joke for those who didn't get it.
On the one hand I feel honored, on the other a bit uncomfortable having so many people extend such hight trust to me.
If I sum it up, I can see people currently trust me with:
- EUR 15
- USD 142
- BTC 8.55
This is beta phase of the software. I will definitely honor any legitimate IOUs people have with me. However it's theoretically possible that something goes wrong and all of the sudden there are some faulty IOUs with my name on them out there. That could theoretically result in some uncomfortable situations having to be resolved.
So please: lower your trust in me to values you can afford to lose (play money!) until we're out of beta.
The majority of people have reasonable values. But 2 or 3 people make up the bulk of above trust.
One area where ripple could shine is microtransactions. Being instant and free has its advantages over waiting 60 minutes for a block to propagate.
One question I had, can other people see how much trust you have extended to them?
yes, they can:
you can see here, for example, severian trusts me with 0.25 BTC while I trust him with 0.1 BTC
I guess you need to hit refresh. I always have to do it and every time I do it kicks me offline.
Thanks for this, experienced exactly that:
- tried to place an order in "advanced" -> "trade"
- failed saying something about "invalid previous tx"
- hit "reload in browser"
- shows login page
- I log in, enter order again, no error
- order does not show in "my orders" list, only my 2 previous orders are there
- reload, login
- order shows (in "my orders" but not in public order book)
there are definitely orders being created automatically somehow. Just woke up (so I did definitely not do anything in my ripple client four hours ago, I was asleep):
But there's also this distributed exchange book built into Ripple (under Advanced > Trade), that I'm still trying to figure out. I've placed some orders into the system, but for some reason they have not showed up in the book.
I second this. My suspicion is that ones own orders don't show up in the book.
and in the end, if everyone uses ripple... POOF: no need for real money?
Real what?
What is this "real money" of which you write?
-MarkM-
what need is there for an exchange with ripples built-in exchange system. mtGox will be degraded to just being a fiat gateway, no?
If you had any real world realistic idea of how much crap is involved in "just being a fiat gateway" you would be glad to know all our so crucial to our whole ecosystem fiat gateways, our major ports through which so much of the trade between the real online world and the real meatspace world passes, can leave "price discovery" to others so they can devote their full energies to making sure our virtual<->meatspace trade-routes remain open.
-MarkM-
On the one hand, I find it mind-blowing that people are sitting in their basements helping to test and refine what might become the new global credit system.
On the other hand, if it's so hard for the nerds of bitcointalk to grok this, will Joe Public ever manage to?
On the other hand, if it's so hard for the nerds of bitcointalk to grok this, will Joe Public ever manage to?
I had a similar thought: compared to ripple, bitcoins seems easy and straightfoward to understand. We can't even explain bitcoin to the masses properly. How the hell can we explain ripple.
I'm hoping this is just bias, though. Maybe ripple is easier to understand for Joe Schmoe than bitcoin,... time will tell.
"Don't worry your little head about it [Darling / Joe / Schmuck / Whoever], we [men / rich fat cat bankers / technocrats] take care of all that confusing stuff, you just be a good [whatever] and go [do the dishes / mow the lawn / watch your baseball game / work 40 hours a week for forty years / mind your own business]."
-MarkM-
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