Looks like there is a market forming for TradeFortressBTC, you could sell them for XRP
.. and buy real BTC with the XRP? No, but you could use the XRP to buy BitstampBTC, which you then send to Bitstamp and they credit real BTC to your account on their exchange. |
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Yesterday I was able to withdraw 1 RippleBTC Today I can withdraw 0 to bitstamp. have 500 xrp and nothin?
Probably you were able to withdraw yesterday because somebody who trusted TradeFortress also held BitstampBTC. Now there are no people who fit that description, so you cannot withdraw any more to Bitstamp. |
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Looks like there is a market forming for TradeFortressBTC, you could sell them for XRP
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1 - Yes, once you get the TradeFortress BTC you can remove the trust line to him, and you will still hold 1 TradeFortressBTC. If you ever send bitcoins to somebody who trusts TradeFortress, the client will use the TradeFortressBTC before using BTC from issuers you still trust.
Is there some Ripple address — maybe some throwaway account that trusts that TradeFortress account — we can send these useless RippleBTC to that are otherwise inflating our genuine Ripple balances? This thread is full of addressed who trust TradeFortress, you can send the BTC to any of them, but why would they give you anything in return? You can also create a trade offer, just change the "issuer" to TradeFortress for BTC and you can offer to sell them for any currency you want. |
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It's not possible to send them to Bitstamp or withdraw them in any way, right?
If somebody who trusts TradeFortress is holding BitStampBTC, then you can send them to Bitstamp. Otherwise Bitstamp has no reason to take them. I have already said this, why don't you read the thread? |
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I'm either missing something or you're all brute stupid.
Why are you bidding on something that even TradeFortress (The one who is supposed to honor the IOU) implied that he wasn't going to be doing so?
I don't know much about Ripple, so feel free to tear this post to bits.
Here, let me explain it clearly: If I buy a TradeFortressBTC, then it sits in my account. But there are a bunch of other people who trust TradeFortress, so if any of them hold BitStampBTC, I can send 1 BTC to BitStamp and the other guy gets his BitStampBTC switched out for TradeFortressBTC, and Bitstamp credits my account 1 BTC. So there is a chance I will be able to get 1 BTC from this TradeFortressBTC, but there is also a chance that everybody removes their trust from TradeFortress and so it becomes worthless. |
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I have a question for ya guys has anyone tried withdrawing these btc to bitstamp yet? I have and it only worked once but not after that? it just says no path found
You cannot withdraw these TradeFortressBTC to Bitstamp, you can only withdraw BitStampBTC to BitStamp. I feel like I have already told you this in a couple other threads, why do you keep asking the same question? |
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I actually believe in a socialist free health care system. 100% free. I just know that paying fair taxes is a part of that system I believe in. The current system in the US is not fair at all though...
A system which pays doctors cannot be free. The doctors need to get paid, and that money has to come from somewhere. You can hide the costs or spread them around, but calling it 100% free is lying. |
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When I try to send to bitstamp it says Path not found. It only allowed me to send 1btc yesterday then it glitched and sent 50xrp then i didnt have enough to send? now I have 210 xrp
I think you posted this in the wrong thread? Are you trying to send them XRP or BTC? To send BitStamp BTC, since they don't trust anybody, you either have to be holding BitStampBTC or somebody who holds BitStampBTC has to trust you so you can ripple through them. |
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I'm probably missing something here, but when I try to transfer a btc from ripple to bitstamp I get the message "No Path Found" - why would this be?
What sort of BTC is it? As far as I know, Bitstamp does not trust anybody, so you can only send them BTC if you are holding BitStampBTC or somebody who is holding BitStampBTC trusts you, then it can ripple through them and they end up holding your IOUs instead of BitStamps. |
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Whereas, Coinlab,
It's not a X vs Y debate. Coin* (all of them, base, lab, whatever) are teh Yfail. I don't think it is fair to bash Coinbase just because they have a similar name to CoinLab. The link you cite seems to conflate the two as the same thing, but they are actually different, and it is just plain dishonest to make a mistake like that and not fix it in the article. That might be libel? |
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Few Questions
1 - If someone grants trust to TradeFortress(or anybody) just to get that 1 bitcoin. Then can he/she remove(ungrant) the trust after getting the coin?
2 - Can TradeFortress use that "Trust". I mean the 100 RippleBTCs, Are they reflected in the main balance?
3 - How the heck TradeFortress got 1 Trillion Ripple BTCs even if they are fake?
1 - Yes, once you get the TradeFortress BTC you can remove the trust line to him, and you will still hold 1 TradeFortressBTC. If you ever send bitcoins to somebody who trusts TradeFortress, the client will use the TradeFortressBTC before using BTC from issuers you still trust. 2 - If you grant him 'trust', then he can use it. It will not change the balance, but he will be able to ripple through you. If you are holding 100 Bitstamp BTC, then he can send 100 BTC to BitStamp and withdraw real BTC, your balance will still be 0, but if you look at the trust lines you will see 0 for BitStamp and 100 for TradeFortress. Now you hold 100 IOUBTC from TradeFortress, who does not sound like he wants to redeem them, and he gets 100 real BTC. 3 - You can do this yourself rather easily: open two accounts (get a few hundred XRP in each), have account A trust account B, then have account B send 1 trillion BTC to account A. Open account A, voila - you have a balance of 1 trillion btc! But unless somebody trusts your account B as well, there is nothing you can do with those BTC, they are just imaginary. I have a question as well: Why is this in the Newbies forum? |
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Oh, wow... Guys, thanks for bidding! That's my first auction here, I am learning how it works. I saw in other topics that people usually bid <amount> @ <price> and topic starter posts the auction state, so here it is: | user | quantity @ BTC | remainder | | Peter Lambert | 4 @ 0.01255 | 0 remaining |
Yeah, I guess my last post was a bit ambiguous, since it could technically be read either as you put it (which is what I meant), or as that price for each. Just to be clear, my last bid was 4 @ 0.01255 Maybe next time you do an auction it would be a good idea to set a minimum step size. |
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I guess I will start the bidding:
0.04 btc for 4 TradeFortressBTC on Ripple
I'll cover your 0.04, but this is a bad idea because the point is to show a BTC in ripple isn't a BTC 0.0501 btc I know it is not a real btc, that is why they are so cheap |
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It is too bad that the few eBay type businesses that sprung up early on didn't fair better. If people trade things for btc so they can buy other things with btc govts couldn't get involved. Speculators would be pissed and no one could dream about getting rich quick.
Bitmit is working very well. Coingig and the others have a hard time finding people to buy and sell. The infrastructure is there, what is needed is some marketing. Also need a good reason to shop there (at least for me). I don't see ANY benefit using BTC to buy stuff unless the stuff is illegal. Again I state at least for me. As a customer I don't see a problem with paypal/ebay even though I know as a seller they have high fees and paypal can mess with your account at anytime (also sides with scammer buyers too). If btc markets/sites would be considerably cheaper (will be honest haven't checked the market), I would think about it. BTC is too volatile to hold for purchases, so I treat it like an investment (aka have less BTC on hand). Its more difficult to get more BTC then paypal $, so why would I use BTC for purchases when I could use any number of other methods that are easier to replace funds then BTC? Theoretically, since the seller is protected by bitcoins having no chargebacks, they would be willing to sell for less on a btc site than on a paypal using site. I don't think the market is quite big enough for that to be noticeable yet. |
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The question is how long this will last? The answer is 2-3 months give or take some major event such as gox going down or facebook adopting bitcoin. [emphasis by Pzi4nk]
Facebook is adopting bitcoin? Please read before answering. Clearly it was a joke. Clearly it came across as you being unable to read, rather than being a joke. If it was intended as a joke, then you really need to work on your humor delivery. |
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My wife has dementia and I've had to quit work to take care of her full-time. We get by, just barely, on our fixed income. The most frustrating thing about our situation is the "requirement" that we NOT exceed the maximum allowed income for her to remain qualified for Medicaid. This would include any money in a savings account. Bitcoin seems to be an ideal way to build a savings account without the worry of saving cash in our house. Would a laminated paper wallet be the best way to secure it?
I believe I suggested using bitcoins in this manner sometime in 2011. Maybe I can find the post ... https://bitcointalk.org/index.php?topic=9879.0You just have to be careful how you make withdrawals from your savings. I don't know how much detail they go into when reviewing your case, but if you have to turn in a monthly bank statement or something like that, it might raise some eyebrows if you have a bunch of unexplained deposits from Dwolla, that would look like income. |
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