Topic: Ripple: The Best Way To Legitimize Bitcoin (Read 13026 times)

So what do you think, is XRP good as a long term investment in 2015?

You may check it in coimarketcap.com >> http://coinmarketcap.com/currencies/ripple/#markets

We are from Bitcoin.co.id havent listed yet there because we just launch it today

How can I create RIPPLE ( XRP ) account and which exchanger do you suggest with highest volume?

Ripple is 100% premined, it's a simple answer.

Our Bitcoin exchange in Indonesia also just open for XRP/BTC with 0% trading fee. Please give it a try

www.Bitcoin.co.id

Weexchange still holds ~0.25 BTC from me hostage that they received in April or May last year. They seem to generally blame anyone else but themselves for not being able to operate a rippled in a stable way (and are reluctant to use other, public servers). I consider them as vastly incompetent at best, scammers at worst.

No, for XRP you don't need a trust line - they are the built-in currency, and you can send and receive them within Ripple to any account.
It's strange that weexchange didn't just send the XRP back when they got them - this would be appropriate behavior for a gateway when you send them something they cannot handle.

Onkel Paul

Generally you cannot send Ripples to gateways because gateways do not want to act like Ripple wallets, you need to send USD or Bitcoin equivalent from your Ripple account.  If you contact WeExchange with date and transaction info they should be able to send your Ripples right back. But for them to do this, you first need to open in your Ripple account a Trust line with them (ask them for their Ripple Trustline address or something named like that). The trust line must be equal to or more than 40K ripples so your Ripple account can accept funds from them. 

Inside your wallet...on the left is a button that says 'convert'.

After you click on 'Convert', choose the quantity and currency you want to end up with (ie. .10 USD)
The web client will show you what currencies you have available and how much it will cost in order to get what you want.

It can't get much simpler.....

In fact, I've NEVER seen such a simpler way!!!

RE: Ripple


 I received some ripple along with a lot of others here at bitcointalk.org back in February.

 Then I learned about Ripple and those behind it. (They got my attention).

 Then finally I kinda got exactly what Ripple is, and what Ripple isn't.


 But it's not easy to understand how and what to do to trade with Ripple.

 I would really like to trade coin and trade coin for fiat on Ripple, but it's far from easy to
understand how to do it.

 Just recently I again visited Ripple, and well again I couldn't figure out how to sell btc for usd
nor how to trade usd for btc. Not to mention trading various crypto types with Ripple.

 Ripple simply has to figure out how to make this much less daunting. If I have trouble figuring
it out how to even use it then most if not almost everyone else will too. That's a critical flaw.

 I am not really a smart person per say, but I am intelligent. And very knowledgeable about many
topics and subjects. I can fix and solve most puzzles and mysteries. What I am getting at here is
that I want something like Ripple. It's a great concept. And many here are absolutely not
understanding what Ripple is, and what it's not. And that's certainly because it's quite different
than anything else in the way it functions.


 Ripple needs to get easy. Far easier. I am holding out, and holding on to the Ripple I have in
the hopes they succeed where so far they haven't; getting it simple, easy, and getting the
critical mass of trading going so that suddenly we have a new type of digital paypal per say.

 If it was just easy enough to use I would help start getting that critical mass of trading going on it.

 I am crossing my fingers they can get it right. Already the online wallet is easy, and well
SnapSwap seems okay.

 But figuring out how to do the trades and this nonsense about having to trust others when
we can't trust anyone when it comes to money very much in the first place. Especially strangers
online of all folk.

 The best thing an old attorney of mine taught me was this:

 "you can trust people to a point. And that point is money".

 Or in other words one cannot trust people when it comes to money issues.
At least not some people. And thus why i had to retain that attorney in the first place.
(to get my money that they refused to hand over without a legal fight). But I did then get
my money, less the cost of the attorney. And why I don't trade here person to person because
I have no idea who can be trusted and who can't be trusted. Nor for HOW MUCH they can be
trusted. Many are honest. Many are not. Thus:

 "you can trust people to a point. And that point is money".


 
 I am crossing my fingers for Ripple!

 But it's got to be made dummy proof if it is to succeed in the marketplace. Otherwise it's going
nowhere fast. Most people are not smart. Maybe I am wrong but most wont be even able to
comprehend what Ripple is, and what it's not. Just like here in this thread some don't even grasp
what it is after it's clearly been laid out. I don't know why that is so, but it's obviously the case.

 At least that's what my senses tell me. And if it's not easy, simple, and foolproof, along with
safe then it's not going anywhere at all.

 The entire Ripple Project needs to solve these critical issues first, other wise...
...their beating on whats termed a 'dead horse'.



Best Regards to Ripple,



Caveat emptor - let the buyer beware!

Well, in that case the thing is not to buy more than the minimum amount of XRP you need to use the exchange functionality. I've only bought a tiny bit myself, and got some in a handout. I've also earned a grand total of 29 XRP through computingforgood.org. :-) I think I'll buy a small amount of XRP in case it takes off spectacularly, maybe 100 euros or so.


It's operational right now. Most of the liquidity is in the order books against XRP, which is not surprising since XRP was designed to be a bridge currency. The software does synthesise virtual order books, but the standard client doesn't display these synthesised books, just the underlying ones. This means that the effective depth in Bitstamp USD / Bitstamp BTC is much better than appears on your screen. If there's a setting I could tweak somewhere I'd love to hear about it. If you use the Convert menu option, it does use the synthesised order book, although you can only use it for market orders, not limit orders.


I don't how good Coinbase is, as I'm not in the US. I've bought most of my BTC through bitonic.nl. It's a very quick and reliable system, but it's also expensive. I did buy some through Ripple, but I was dissatisfied with Bitstamp. The two main reasons I'm reluctant to use Bitstamp for more than very small amounts is that the process is slow compared to Bitonic and that my experience with them and the fact that they are located in Slovenia mean that I'm not confident they'll be able to store my money / BTC safely. I'd love to use a gateway that is directly connected to the Dutch banking system, especially iDeal. It would also have to be based in a larger eurozone country with a more solid banking system than Slovenia. The Netherlands would be ideal for me, but Germany or Austria would be fine too.


That's what I'm hoping for. Ripple would be ideal for arbitrage and would allow us to get rid of the idiotic spreads between exchanges. The main thing we need for that is more and more trustworthy gateways. The software is already there.


XRP is just as deregulated, but more importantly, Bitcoin needs distributed exchanges to grow. And I think Ripple is just the thing that will prevent governments from shutting it down. It's basically digital Hawala, and governments around the world have been unable to eradicate Hawala.

Here's a list

SCNR

Onkel Paul

Which exchanges trade in XRP?

I'm not going to write up "a really good explanation of ripple" on the spot.
The network of validators does not depend on a central server to operate, and thus it is decentralized. However, in the current phase the main validators are operated by ripple labs.
Yet since the various exchanges run their own nodes with validators, they could ensure continued existence of the ripple network and the transaction ledger (I don't know whether they have appropriate UNL settings yet to trust each other).
This is different from the bitcoin p2p approach that is based on lots of mostly anonymous nodes - ripple nodes are not anonymous. But the network is decentralized.

Onkel Paul

Which parts of Ripple don't you understand? Just like with Bitcoin, some people don't get mining while others don't know how to operate their wallet software...

Why shouldn't it be decentralized? You sound a lot like someone reading ripplescam.org but not really understanding what's written there is a mixture of bullshit (a hint: BitTorrent is NOT distributed at all), statements out of context and misinformation, paired with a very carefully selected range of comments.

I liked the more casual "primer" white paper at https://ripple.com/ripple_primer.pdf - if you have more concrete questions after that, please ask them, as you actually did not ask a real question so far...

No, Ripple is a decentralized exchange, bitcoin is a digital asset. If you want to buy a digital asset that is native to Ripple, you can buy some XRP (confusingly called "ripples"). You can do so on various sites which I haven't really used so I'm not going to list them here, sa it might sound like a recommendation.

Is there somewhere with a really good explanation of ripple, still not 100% clear on it. In particular, to me it seems like its not really a decentralized system?

Can I buy Ripple like I can buy Bitcoin?  If so, how?

There are already people showing up to arbitrage on Ripple. There is at least one US based gateway (PeerCover) that even accepts credit card payments, so I don't really see difficulty there getting USD in and out. BTC anyways are easily accessible within Ripple, depending on market situations I'd recommend though not to buy in huge market orders - after all the BTC market is about 1% the volume of Bitstamp.

Once you have USD in Ripple, you can trade BTC and withdraw them to any BTC address (if Bitstamp's bridge doesn't stall again, sometimes it does, usually it doesn't) in about 10 seconds flat.

Bitcoin currently depends on exchanges, if you take these away, both Coinbase and BitPay (who process a LOT of transactions on the block chain) are out of business in one single swipe. Bitcoin can still continue to exist, but will have very limited usability without exchanges.

Ripple would take over in that regard, that you do not need to exchange anything as gateway yourself - you only offer to do AML/KYC and deal with deposits and withdrawals of whatever currency or asset you like, that's it. Every exchange to whichever obscure currency that actually happens is distributed inside the system and out of reach for any government interference.

I'm not sure if it matters, but I think the Ripple ledger works slightly differently than the Bitcoin blockchain. While the Ripple ledger must somehow store the transactions, it adds up amounts into a single balance instead of keeping track of the fate of individual outputs. In other words, you don't have the situation as in Bitcoin where you have multiple inputs that are combined in a transaction and then split into multiple outputs. If I understand it correctly the collective effect of all transactions in a new ledger is reflected in the new balances stored in that ledger.

So if you start with $100 in Bitstamp IOUs and send $10 to me, then both our new balances aren't directly linked to a sender anymore, but they are still linked with a receiver and the issuing gateway. To do the same thing in Bitcoin you would have to combine all transaction outputs in your wallet into one new output.


Right now, I think the main attractions are for merchants who want to accept fiat payments from abroad without the risk of chargebacks, for remittance and for its distributed order book. The latter is what makes me enthusiastic about Ripple. Right now, the creaking system of exchanges is Bitcoin's Achilles heel. Ripple offers a robust distributed exchange and the gateways offer access to it. The only thing that's holding me back is a lack of confidence in Bitstamp and the fact that I have to make relatively slow SEPA payments instead of lightning fast local payments with iDeal.


I don't really care about that, but if others do that's fine by me. Do note that once ripples have been released into circulation Ripple Labs no longer has any control over them.


It will be interesting to see how it plays out. Right now, I think Ripple could offer great value to the Bitcoin ecosystem because of its robust exchange system while Bitcoin can provide Ripple with a customer base and demand for its services.

dancupid got scammed by TradeFortress. TradeFortress claims that he was just doing this as a social experiment to show that Ripple sucks, but in fact he was exploiting people who did not understand how the trust system works in Ripple.
dancupid could get rid of the fake bitcoins by sending them back to TradeFortress (they're worthless anyway). Yeah the UI does not make that easy because you can't simply send BTC issued by a specific party, I know. I think it should be possible by sending those 4 BTC to an address that only accepts TradeFortress BTC.

@dancupid: In case you care at all, I can help you get rid of the TradeFortress fake BTC - I'll send you a PM explaining how. If you don't care for Ripple anymore, just igore it.

Onkel Paul

edit: I just found that there's a trade offer on Ripple where you can sell TradeFortress BTC for 0.001 XRP each. So getting rid of them is possible. Whether you want that or not is your personal decision.