ripple: let's test it! - page 28. | Bitcointalksearch.org

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

Quote from: Zedster on February 22, 2013, 12:59:26 PM

Quote from: Zedster on February 22, 2013, 11:05:53 AM

Alright so I "deposit" 1000xrp and into Bitstamp and now I have no idea where it is. It shows up no where on the Bitstamp UI. Any help folks?

The ripple forums are strangely quiet except for Cialas sales and private detectives. hmmm

Anyone able to clue the clueless in here please?

I'll find out myself what your going through in a few minutes as I sent some BTC to BitStamp and will convert it to xrp's at least thats what suppose to happen.
I'll keep peep's informed here. Also, who wants some XRP's? Like to test it out in 10 increments.

Nasty fail! Or I'm just retarded! or both! I don't get it I have BitStamp as a trusted address?

Zedster

full member

Activity: 182

Merit: 100

Quote from: Zedster on February 22, 2013, 11:05:53 AM

Alright so I "deposit" 1000xrp and into Bitstamp and now I have no idea where it is. It shows up no where on the Bitstamp UI. Any help folks?

The ripple forums are strangely quiet except for Cialas sales and private detectives. hmmm

Anyone able to clue the clueless in here please?

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

Quote

My ripple address: rKfd86S25PUdVquk41xedH5jNX4bZ8DiA7
I will add you bbit and grant 1 USD trust

Likewise.

Quote

One question: When you send or receive does it show the other users your Ripple account name, the contact name, or the Ripple address if they don't have you as a contact?
I sent 10 XRP to Akka, can you send me a few to see how your contact name comes up on my Ripple acct?

Good, question was wondering the same thing. I just signed up on Bitstamp to see if I can try all this for real also. I'll send you some xrp's BitObsessed to see how this all works.

Umm....what does the -1 mean and the 0 in the middle? lol... this is after I trusted you with $1 USD.

Bitobsessed

sr. member

Activity: 291

Merit: 250

Quote from: Bitobsessed on February 22, 2013, 11:18:41 AM

Trusts
Molecular 1 USD
Spekulatius 1 USD

Please trust back so I can start to see how this thing works

My ripple address: rKfd86S25PUdVquk41xedH5jNX4bZ8DiA7

Well getting to it, Ripple seems to be down at the moment. The wallet will not load.

My ripple address: rKfd86S25PUdVquk41xedH5jNX4bZ8DiA7
I will add you bbit and grant 1 USD trust

One question: When you send or receive does it show the other users your Ripple account name, the contact name, or the Ripple address if they don't have you as a contact?
I sent 10 XRP to Akka, can you send me a few to see how your contact name comes up on my Ripple acct?

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

I added:

molecular
gweedo
severian

to my ripple account. I'm trying to figure out how all this works.

Add me if you want:

rB7qiwEDrcMShUN3Jd8LwXr4RJ7RWBaQu8

edit: added Akka Grin

~~what is yours Bitobsessed ?~~

added! & trusted $1 USD.

Bitobsessed

sr. member

Activity: 291

Merit: 250

Quote from: Akka on February 22, 2013, 12:04:43 PM

Quote from: JoelKatz on February 22, 2013, 12:02:34 PM

Quote from: Akka on February 22, 2013, 11:31:37 AM

Yup, doesn't load for me too.

Just when I wanted to jump in and try this out. Sad

We have the network in a very paranoid mode still where if it thinks anything might be wrong, it stops things and preserves state. The server handling normal client queries thought something was wrong. The error has been cleared. We are prioritizing protecting assets over availability at the moment.

It's OK. I'm still in figuring this out mode, anyway. And security should always have priority.

Ok, I'm now adding most of the posters of this thread with "can afford to loose" trust amounts.

Lets play around a little bit. Cheesy

If you want to trust me back:

r9RpJFpD6vkKhgHhrRjkgofSbNsE1oYFZ1

I will trust 1 USD please trust back. Trying to figure this out.

Akka

legendary

Activity: 1232

Merit: 1001

Quote from: JoelKatz on February 22, 2013, 12:02:34 PM

Quote from: Akka on February 22, 2013, 11:31:37 AM

Yup, doesn't load for me too.

Just when I wanted to jump in and try this out. Sad

We have the network in a very paranoid mode still where if it thinks anything might be wrong, it stops things and preserves state. The server handling normal client queries thought something was wrong. The error has been cleared. We are prioritizing protecting assets over availability at the moment.

It's OK. I'm still in figuring this out mode, anyway. And security should always have priority.

Ok, I'm now adding most of the posters of this thread with "can afford to loose" trust amounts.

Lets play around a little bit. Cheesy

If you want to trust me back:

r9RpJFpD6vkKhgHhrRjkgofSbNsE1oYFZ1

JoelKatz

legendary

Activity: 1596

Merit: 1012

Democracy is vulnerable to a 51% attack.

Quote from: Akka on February 22, 2013, 11:31:37 AM

Yup, doesn't load for me too.

Just when I wanted to jump in and try this out. Sad

We have the network in a very paranoid mode still where if it thinks anything might be wrong, it stops things and preserves state. The server handling normal client queries thought something was wrong. The error has been cleared. We are prioritizing protecting assets over availability at the moment.

Bitobsessed

sr. member

Activity: 291

Merit: 250

I wonder if we already broke the network? That is mostly a joke, but I would like to know what is going on.

Akka

legendary

Activity: 1232

Merit: 1001

Yup, doesn't load for me too.

Just when I wanted to jump in and try this out. Sad

Bitobsessed

sr. member

Activity: 291

Merit: 250

Trusts
Molecular 1 USD
Spekulatius 1 USD

Please trust back so I can start to see how this thing works

My ripple address: rKfd86S25PUdVquk41xedH5jNX4bZ8DiA7

Well getting to it, Ripple seems to be down at the moment. The wallet will not load.

Deprived

hero member

Activity: 532

Merit: 500

Quote from: Spekulatius on February 22, 2013, 11:07:05 AM

Would be nice if some of you would respond my trust!

My Ripple Address: rNHf9nnX4JgHferxjRxmapDev7mWQZ6XXd

Thx

P.S.: I also trust ribuck (ra3a5cfr83b5FTh1YDURqWQh8HTbHEwdyD) with 0.01 BTC and
gweedo (rKFX2Gvk4jLtgEGMC2qDmMi18Zw4bewrjK) with 0.025 BTC

This is a sreiously bad idea - and one of the scams I see as being likely to happen quite a lot (NOT accusing you of scamming - but what you're doing is exactly what a low-level scammer would do).

How it works is this:

Scammer extends trust to loads of people - but deposits no assets so that trust can't be realised.
Scammer asks people he trusted to trust him back.
Some idiots trust him back.
Scammer withdraws BTC based on that trust - leaving victims holding IOUs from him instead of BTC (if they trusted in some other currency then he borrows in that currency, converts to BTC and withdraws).
Scammer vanishes.

Extending trust because you can is dumb. Extend trust only when you need to.

Deprived

hero member

Activity: 532

Merit: 500

Quote from: justusranvier on February 22, 2013, 10:47:15 AM

What if I wanted to use bitcoins I have in cold storage as collateral for Ripple trust?

The person who grants me the trust can verify that the amount of IOUs matches the balance of the address and I can sign a statement to prove ownership.

Is there some automated way in Ripple to validate collateral so that the lender can verify that I haven't pledged the same unspent output multiple times?

Ripple's just a ledger system that records who owes what and who has offered what trust. It doesn't enforce or validate extended trust. Making life easier for honest people to conduct business also makes life easier for scammers - Ripple will be the scammers' best friend if it takes off (same as BTC was/is). Fast, easy and irreversible transfer of funds is good for those doing legitimate business but an absolute god-send for scammers.

If you legitamtely want to take out a loan against BTC in cold-storage then send them to cold-storage belonging to the lender. If a lender has no way to gain control of collateral in case of default then it's not collateral anyway: just proof that you, in theory, have the means to honour your debt.

Spekulatius

legendary

Activity: 1022

Merit: 1000

People I trust so far:

Would be nice if some of you would respond my trust!

My Ripple Address: rNHf9nnX4JgHferxjRxmapDev7mWQZ6XXd

Thx

P.S.: I also trust ribuck (ra3a5cfr83b5FTh1YDURqWQh8HTbHEwdyD) with 0.01 BTC and
gweedo (rKFX2Gvk4jLtgEGMC2qDmMi18Zw4bewrjK) with 0.025 BTC

Zedster

full member

Activity: 182

Merit: 100

Alright so I "deposit" 1000xrp and into Bitstamp and now I have no idea where it is. Any help folks?

The ripple forums are strangely quiet except for Cialas sales and private detectives. hmmm

debianlinux

full member

Activity: 221

Merit: 100

I can't even trust the giveaway thread to give me the 50K ripples.

paraipan

legendary

Activity: 924

Merit: 1004

Firstbits: 1pirata

Diverting lemmings from bitcoin in 3, 2, 1...

justusranvier

legendary

Activity: 1400

Merit: 1013

What if I wanted to use bitcoins I have in cold storage as collateral for Ripple trust?

The person who grants me the trust can verify that the amount of IOUs matches the balance of the address and I can sign a statement to prove ownership.

Is there some automated way in Ripple to validate collateral so that the lender can verify that I haven't pledged the same unspent output multiple times?

Deprived

hero member

Activity: 532

Merit: 500

Quote from: JoelKatz on February 22, 2013, 10:33:48 AM

Quote from: dogisland on February 22, 2013, 10:04:24 AM

Why would anyone extend credit to friends of friends without a return ?

There is a return, it reduces the cost of payments and it helps your friends out.

If fact you don't extend credit to friends of friends anyway. You extend credit to friends. They can then choose to use that credit to extend credit themselves to their friends (your friends of friends) - but you don't end up with an IOU from anyone you haven't personally extended credit (trust) to. If the friend of a friend defaults, you still own the IOU from your friend. If they then won't honour it because they were defaulted on they aren't much of a friend and you need to evaluate better how you're handing out trust/credit.

But I'd advise strongly against thinking of it in terms of 'friends' anyway - this isn't about friendship, it's about money.

JoelKatz

legendary

Activity: 1596

Merit: 1012

Democracy is vulnerable to a 51% attack.

Quote from: dogisland on February 22, 2013, 10:04:24 AM

Why would anyone extend credit to friends of friends without a return ?

There is a return, it reduces the cost of payments and it helps your friends out.

Quote

To me, the only people who would benefit from this is the people receiving free loans. Just the kind of people who wouldn't pay it back.

I'm looking at the people behind it and they look very credible, so I'll have to assume I don't get it.

So please give it to me simply.

Social structures will probably have to adjust to make this work, just like they did when people started friending each other on social networking sites. I believe that over time this may change the way people think about money, but I'm not ready to advise people to start using it yet. We need to learn *how* to use it.

Topic: ripple: let's test it! - page 28. (Read 43945 times)