Arakhne said
Great! We now have a virtual Ripple exchange platform!
Nice work, congratulations both avavavav & busterzzz!
Its pretty awesome! I am currently listing a bunch of DAB and CAC on the market right now for FUN.
The ratio in dab is 15 fun to 1 dab
The ratio is cac is 1 - 1 or so...
The point of this is to pretend that these are 'real currencies'
We are into the next phase which is make it so each mock gateway holds the currencies in eachothers wallets. It is something called a 'market maker' - which ripple uses to refer to the person in the middle. What we need to do is get my gateway a market maker, and avavav a market maker. Then those market makers will trust the other's gateway for each currency. The market makers will be funded via their own gateway, and they will place these funds into the other gateway.
Once this happens, you can swap FUN issued from the DAB gateway with FUN issued from the FUN gateway. And if the FUn gateway did the same, only the other way around. You could swap DAB issued from the FUN gateway with DAB issued from the DAB gateway.
I know that sounds confusing, it's pretty hard to put into words. I am going to be putting a lot of time and effort into getting something that is automated and live for everyone to use. But for now we can all trade FUN for DAB and CAC. You can all have as much as you want!