This confuses me if the guy issuing DYMs refuses to send me my dimes on demand, how do I exchange those DYMs to another issuer.  Someone has to lose out on that transaction no?

And when you say "if an issuer refuses to redeem balances or delays them, the instantaneous value of their balances will show in the exchange."  I'm not sure what this means.  Can you give me an example?  I know you are saying it will be clear to everyone that someone is defaulting, I'm just not sure how that happens or what you mean by "their balances." (or where that can be found).

Same problem.

Very cool, thanks for linking to that.

In Ripple there is a list of activity entries. 

 For example:
18 hours ago   You created an offer accepting 52,500 XRP for 0.5 BTC

This offer was accepted and the transaction took place (I received the 52,500 xrp).  Why don't these transactions show up in the History section?

Is this investment opp still available?

Also, how is Payward.com related to Ripple.com and Open Coin?

More on the complication part...

When I wanted to set up an account, I realized I needed XRP in order to do anything.   Naturally I came here to see what I could do and saw they were doing a free giveaway of XRP see: https://bitcointalk.org/index.php?topic=145506.0

I have been a member here since 2011 but always lurked so I didn't have the minimum number of posts, so I emailed one of the OpenCoin people to see if I could get some XRP to start.   He sent me a link to a place where I could buy them.   I went to said link and ended up buying 100,000 for 2.3 BTC thinking that this must be a reasonable deal or the employee of Opencoin would not have sent me there.

Now with my ripple in my account, I began messing around and decided to see if I could buy some ripple directly within the interface (I could).   It was then that I realized that I could buy (instantly) 100,000 XRP for 1 BTC.   Needless to say this did not make me feel very warm and fuzzy about being sent to the place that charged me 2.3 BTC.  

The one good thing that happened so far because of this is that I got up enough posts that I can come out of lurking and start contributing some posts.   I also got to put in my Ripple address for the ripple giveaway.

I would feel better if one of the Open Coin people sent me another 130,000 ripples to make up for getting ripped off by the vendor I was referred to.  That would be cool. rNU4JR8bF4P3LTNHshD8UV6dkkUcvJqxUr

In any event,  this is a lot of work (and a quite a bit of frustration over spending the equivalent $182US more than market for ripple because I trusted the recommendation of an Opencoin employee) to have to go through to just get STARTED in the system.  A lot of work.  Plus I had to open an account at Bitstamp (I forgot that), since they are one of the only hubs right now.

How will this process be made easier in the future?   Maybe at this initial stage having people "beg" for XRP is a decent strategy to get early adopters but what is the long-term strategy?

This does seem to be an issue.

Lots of hoops to jump through.   You need to get a foreign currency (ripples) to get your account to work.  You need to understand how currency trading works (there is no simply mechanism to buy things).    Not much is intuitive in the interface (although it is pretty slick from my point of view).   Also, they keep using IOUs as their way of explaining things.  They should make a simple analogy (like I did above with the banks issuing notes on hard currency like gold).  Then they should create a simple analogy so people can understand where these ripple things fit into this system other than being a tax.

Maybe it will be a platform that people can build simpler applications on top of it?

That was always a big issue with Bitcoin.   The thing that has made more widespread adoption possible is Coinbase.  People like to be able to do something in the simplest way possible (ie - deposit money like they do in Paypal and be able to buy stuff and Coinbase fulfills that type of role).

These type of things will always start with the more hardcore folk though, which is why they are starting on the Bitcoin forums (I'm assuming).  

I think it could be real useful if there were lots of liquid markets available to trade.  However, having to open an account with an exchange, so that you can then exchange in another interface, is certainly another layer of complication that will never appeal to the average Joe user.

I'm beginning to wrap my head around Ripple a little bit and I have some questions.

1. Let's say I own a gun shop and I want to create IOU's based on the most popular bullet sold in my store.  They send me cash and I issue 9MM's-BITACCUMLATION (or whatever they'll be called).  Every one can pick up their bullets on demand from the store during work hours or have them shipped to their home for the cost of postage and delivery.  Would this be a good application of Ripple and what would be the exact procedure to go about this within the Ripple client?    This same procedure could be repeated with other items like gold, silver, etc. - yes?

2. If I am getting this right Ripple is a transaction ledger for RECEIPTS (IOUs).  Yes?  Receipts or IOU money was necessary in the past because it was a pain in the ass and dangerous to keep large amounts of commodities on your person or in your house so you entrusted it to a bank in return for an IOU.  These IOUS circulated.  This bank would have a big ass safe and lots of security to keep your commodity safe.   However, with the creation of Bitcoin, the commodity and safe come in one package, so technically the need for IOUs and banks becomes unnecessary.  This is one of the best things about Bitcoin.  The removal of needing trusted intermediaries that can rob you blind.  So how exactly does this system compliment Bitcoin?  And how is moving BACK towards a trust based system useful?

I haven't read this whole thread, but I would like to test out Ripple.   I just purchased some ripple so I can get started.  I would like to do a transaction (maybe buy some BTC with USD).  Is that possible?  If so how do I go about it? It doesn't look intuitive or maybe I'm missing something.

My Ripple address: rNU4JR8bF4P3LTNHshD8UV6dkkUcvJqxUr

Wow that was fast!  I had the money in MTGOX within 10 minute of paying.  Thanks.

Cause then you know for certain it has no virus or malware, since it has never touched the internet and can't steal your bitcoins.
[/quote]

How would it be able to steal your Bitcoins if the computer never went online?

I have several investors that are looking to create a new exchange.  Is this a worthwhile endeavor or is MTGOX the only exchange that is necessary at this time.

I just noticed this.  No wonder I couldn't post.

My name is Chris.  How many posts do I need to be able to reply to a post on another board?  I've been a member here since 2011 and now that I have a question, I just realized I'm not able to post.