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Topic: ripple: let's test it! - page 25. (Read 43925 times)

legendary
Activity: 2940
Merit: 1090
February 23, 2013, 12:13:16 AM
So there probably should come a time when Ripple starts getting what we want done done in surprising ways whose details might involve obscure links between people none of whose direct trust line partners we even know or even know of.
s/Ripple/Facebook and you'll see that what you wrote is rampant digital utopianism.
[...SNIP...]

Yes, very important points, had to be said, glad someone did, saved the rest of us a whole bunch of keystrokes! Smiley

Heaven and Hell are both places you can live in, interchangeably, right where you are right now, psychologically. You can go back and forth.

That won't change your real situation, you are unlkely to shift between quantum realities with different timelines or whatever the just will it and it will happen crowd are saying in their be a millionaire just by believing you are ebooks (only $99.99, pay now with irreversible new ecurrency!) but the freedom you do have just inside your own mind and feelings about your situation is awesomely massive.

But can therefore allow one to be "manic", wonderfully happy, even in some gosh-awful situations.

Which can be really good for survival once you are in such situations (you can still live a happy life even after you abandon your facebook account with no way to undo what you already did by giving them information).

But can lead you into some gosh-awful situations if used up front, that is, feeling all manic / happy about a situation YOU ARE NOT YET IN!

Live happily with how much information you've already spewed out onto the internet, but

BE CAREFUL WHAT MORE YOU PUT OUT THERE!!!

-MarkM-
legendary
Activity: 2940
Merit: 1090
February 22, 2013, 11:59:04 PM
I am starting to wrap my head around this thing...

Ok, but what is the point?

I mean; what can you do with ripple that you can't do already with other solutions?

You can trade USD claims for BTC claims or vice versa, at a distance, irreversibly, without involving a third party, or the blockchain.

Quote
And how do you do it?

Why would the founder of Mt.Gox build a system that makes Mt.Gox "obsolete"?

The founder of MtGox no longer owns MtGox. Also, it doesn't make MtGox obsolete. MtGox still performs the important function of price discovery.

Quote
Why doesent Mt.Gox have a ripple address?

Maybe they haven't gotten to it yet?


MtGox provides the really hard part, the navigation of the legally fraught with regulations interface between government fiat currencies and the real value that people really use on the real internet. Smiley

MtGox is basically a natural inhabitant for the "fiat gateway" niche in the Ripple ecosystem, that apparently has not yet officially taken up residence. I suppose not every financial services company in the world is going to immediately open up a branch in Ripple Country, but as Ripple Country expands more and more might find it a rich enough community to make opening up a branch there make sense to them.

Ripple has price discovery itself though, with arbitrage, so eventually it will be Ripple providing price discovery and the "exchanges" we are used to will get to focus more on what they do best, which is getting our virtual wealth out to meatspace for us and our meatspace wealth back into the virtual world for us.

-MarkM-
newbie
Activity: 46
Merit: 0
February 22, 2013, 11:21:38 PM
Now that we have basically figured out the concept of trust, and IOU's and in essence one person acting as a bank would act, Can this be made into some sort of newbie tutorial? Because I have heard a few people say essentially: "wow wtf is this ripple stuff, even more confusing than bitcoin" And it doesnt have to be.
sr. member
Activity: 291
Merit: 250
February 22, 2013, 10:50:43 PM
I grant trust to molecular with 100 usd, but I have only 0.5 in my ripple acc now  Wink
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.


I thought that might be a little much to start with.  Unless he is your neighbor.  Grin
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
February 22, 2013, 10:49:12 PM
I grant trust to molecular with 100 usd, but I have only 0.5 in my ripple acc now  Wink
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.
sr. member
Activity: 291
Merit: 250
February 22, 2013, 10:34:03 PM
Quote
Thanks Joel I'll see if I can still get my head around it from what you said there! As I do see my You've placed an order to sell BTC for XRP, selling .03 BTC for 10,000 XRP per BTC (that is, 300 XRP for your .03 BTC)  now in "order book" so who see's this ? I'm assuming someone out there?
Anyone who looks at the order book will see. Anyone who tries to place a crossing offer will take it (assuming it is or becomes the best offer for that combination on the books). Assuming it's the best offer, anyone who tries to use XRP to pay Bitcoins to someone (possibly themselves) who accepts BitStamp Bitcoins will take it implicitly.

Thanks. Just so everyone knows what I'm talking about here is the flip-side to my above screenshot. Seems that order is out in the wild for "anyone" to see or a crossing offer  anyone want to test it out? I can return the XRP's if need be I'm just doing all this for testing purposes and getting my head around Ripple because this is the future of trust/credit.



I will try and test it out, but I am confused as to how exactly to calculate the order.  Is this correct?


vip
Activity: 113
Merit: 12
February 22, 2013, 10:30:46 PM
I didn't know where to put this so I chose the altcoins subforum because I expect to find the most open-minded people here Wink
...
...
So anyone want to post his contact info here so I can add some people to my contacts?

I'm rpH3zuMch2GrrYX724xGWwbMGwiQ5RbSAU


I grant trust to molecular with 100 usd, but I have only 0.5 in my ripple acc now  Wink

Please give me back some trust.

I'm rQay7bQ3XoZcT6E3c8uDopZdnWaMBxWea2

Thanks!
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
February 22, 2013, 10:25:50 PM
I'm also constantly having problems with currency exchange: order book does not update and wallet occasionally goes offline without any reason. Also, I added trust to bitstamp address but program keep asking me to add trust to the same address each time I attempt withdrawing to my ripple wallet. After refreshing webpage all goes to norm except if I wasn't cicked offline. All in last firefox, win7
These are the three issues that are at the top of my priority list. It will take us a few days to resolve as it requires both server and client changes that have to be coordinated.
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
February 22, 2013, 10:23:09 PM
One question I had, can other people see how much trust you have extended to them?
Yes. All trust lines are public because other people can use them. All balances are public because other people can use them.
vip
Activity: 113
Merit: 12
February 22, 2013, 10:15:23 PM
I'm also constantly having problems with currency exchange: order book does not update and wallet occasionally goes offline without any reason. Also, I added trust to bitstamp address but program keep asking me to add trust to the same address each time I attempt withdrawing to my ripple wallet. After refreshing webpage all goes to norm except if I wasn't cicked offline. All in last firefox, win7
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
February 22, 2013, 10:13:39 PM
So I got the free bunch of ripples, now I am not sure what do do with it.

my ripple address is rGsLivkDjTZHFQ8oV2h81uTcbTpgjEaEY7

One question I had, can other people see how much trust you have extended to them?
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
February 22, 2013, 09:54:25 PM
If you have a github account, can you open an issue?
https://github.com/rippleFoundation/ripple-client/issues
newbie
Activity: 46
Merit: 0
February 22, 2013, 09:33:31 PM
I'm having a problem placing an order.
I added bitstamp to my contacts list, trusted them with 1000 BTC & 1000USD (why not be daring right)
I have 50k ripples in balance, and I want to bid 5k/BTC @ 10 BTC = my 50k. This is what shows up. And I cannot click Confirm.


I dont have one of those githubs account. Im not a programmer.

I just noticed that my balanced decreased by 0.0002. Now i have 49,999.99998 So maybe thats the problem. Nope that wasnt it.
Also. When I refresh, I have to re-log into the wallet/passphrase interface (and for some reason Lastpass doesn't auto-matically autofill it, even though if i click "Autofill" it fills properly. Not like this is your fault but its still strange.
legendary
Activity: 1330
Merit: 1000
Bitcoin
February 22, 2013, 08:59:41 PM
Quote
Thanks Joel I'll see if I can still get my head around it from what you said there! As I do see my You've placed an order to sell BTC for XRP, selling .03 BTC for 10,000 XRP per BTC (that is, 300 XRP for your .03 BTC)  now in "order book" so who see's this ? I'm assuming someone out there?
Anyone who looks at the order book will see. Anyone who tries to place a crossing offer will take it (assuming it is or becomes the best offer for that combination on the books). Assuming it's the best offer, anyone who tries to use XRP to pay Bitcoins to someone (possibly themselves) who accepts BitStamp Bitcoins will take it implicitly.

Thanks. Just so everyone knows what I'm talking about here is the flip-side to my above screenshot. Seems that order is out in the wild for "anyone" to see or a crossing offer  anyone want to test it out? I can return the XRP's if need be I'm just doing all this for testing purposes and getting my head around Ripple because this is the future of trust/credit.

legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
February 22, 2013, 08:50:59 PM
Thanks Joel I'll see if I can still get my head around it from what you said there! As I do see my You've placed an order to sell BTC for XRP, selling .03 BTC for 10,000 XRP per BTC (that is, 300 XRP for your .03 BTC)  now in "order book" so who see's this ? I'm assuming someone out there?
Anyone who looks at the order book will see. Anyone who tries to place a crossing offer will take it (assuming it is or becomes the best offer for that combination on the books). Assuming it's the best offer, anyone who tries to use XRP to pay Bitcoins to someone (possibly themselves) who accepts BitStamp Bitcoins will take it implicitly.

Hahaha, YOU think? Aren't you one of the developers? Even the developers are confused...
I'm not a client guy. But I agree, it's confusing.
legendary
Activity: 1330
Merit: 1000
Bitcoin
February 22, 2013, 08:36:39 PM
Ummm who see's this and what does this mean?



Also, so Bitstamp has my trust I guess now what? I want to convert them into BTC/XRP... basically lost at this point lol




MY head is about to explode so lost and confused now ...
We're working on making this display less confusing. I *think* it means that you've chosen to let BitStamp hold up to .1 BTC for you and it is currently holding .03 BTC for you (or, in IOU terms, your Ripple account holds an IOU from BitStamp for .03 BTC). You've placed an order to sell BTC for XRP, selling .03 BTC for 10,000 XRP per BTC (that is, 300 XRP for your .03 BTC).

One thing we're working on is allowing you to mouse over confusing things and get a plain English display of them.
https://github.com/rippleFoundation/ripple-client/issues/200


Thanks Joel I'll see if I can still get my head around it from what you said there! As I do see my You've placed an order to sell BTC for XRP, selling .03 BTC for 10,000 XRP per BTC (that is, 300 XRP for your .03 BTC)  now in "order book" so who see's this ? I'm assuming someone out there?
legendary
Activity: 1330
Merit: 1000
Bitcoin
February 22, 2013, 08:36:13 PM

We're working on making this display less confusing. I *think* it means that you've chosen to let BitStamp hold up to .1 BTC for you and it is currently holding .03 BTC for you (or, in IOU terms, your Ripple account holds an IOU from BitStamp for .03 BTC). You've placed an order to sell BTC for XRP, selling .03 BTC for 10,000 XRP per BTC (that is, 300 XRP for your .03 BTC).

One thing we're working on is allowing you to mouse over confusing things and get a plain English display of them.
https://github.com/rippleFoundation/ripple-client/issues/200


Hahaha, YOU think? Aren't you one of the developers? Even the developers are confused...

Anyway, I tried placing a similar order (bid to buy BTC for XRP at 10,000 XRP/BTC). The order placed successfully, but I never saw the order show up in the book, and the best bid remained at 5000 XRP/BTC. Eventually I cancelled the order.

I was, though, able to successfully execute a trade of 0.1 BTC for 3 USD by executing against an order that was already on the book. Unfortunately, the trade confirmation for that was even MORE confusing than the above.

Makes me feel better about myself Tongue    oh gosh ya ..
bpd
member
Activity: 114
Merit: 10
February 22, 2013, 08:31:10 PM

We're working on making this display less confusing. I *think* it means that you've chosen to let BitStamp hold up to .1 BTC for you and it is currently holding .03 BTC for you (or, in IOU terms, your Ripple account holds an IOU from BitStamp for .03 BTC). You've placed an order to sell BTC for XRP, selling .03 BTC for 10,000 XRP per BTC (that is, 300 XRP for your .03 BTC).

One thing we're working on is allowing you to mouse over confusing things and get a plain English display of them.
https://github.com/rippleFoundation/ripple-client/issues/200


Hahaha, YOU think? Aren't you one of the developers? Even the developers are confused...

Anyway, I tried placing a similar order (bid to buy BTC for XRP at 10,000 XRP/BTC). The order placed successfully, but I never saw the order show up in the book, and the best bid remained at 5000 XRP/BTC. Eventually I cancelled the order.

I was, though, able to successfully execute a trade of 0.1 BTC for 3 USD by executing against an order that was already on the book. Unfortunately, the trade confirmation for that was even MORE confusing than the above.
legendary
Activity: 1022
Merit: 1000
February 22, 2013, 08:16:12 PM
You can trade USD claims for BTC claims or vice versa, at a distance, irreversibly, without involving a third party, or the blockchain.

Ok, but how? Step by step instructions would be nice!

All this trust/XRP/addresses crap is probably great: but I just want two big SELL/BUY BTC "claims" buttons!

Thx, for explaining the rest!

Well, what I meant was, that if I have BTC claims on Ripple, and you have USD claims on Ripple, we can trade them through the system, after agreeing on a price privately. It solves the OTC trading problem marvelously.

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 guess you need to hit refresh. I always have to do it and every time I do it kicks me offline.
legendary
Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
February 22, 2013, 08:04:12 PM
Ummm who see's this and what does this mean?



Also, so Bitstamp has my trust I guess now what? I want to convert them into BTC/XRP... basically lost at this point lol




MY head is about to explode so lost and confused now ...
We're working on making this display less confusing. I *think* it means that you've chosen to let BitStamp hold up to .1 BTC for you and it is currently holding .03 BTC for you (or, in IOU terms, your Ripple account holds an IOU from BitStamp for .03 BTC). You've placed an order to sell BTC for XRP, selling .03 BTC for 10,000 XRP per BTC (that is, 300 XRP for your .03 BTC).

One thing we're working on is allowing you to mouse over confusing things and get a plain English display of them.
https://github.com/rippleFoundation/ripple-client/issues/200
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