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It is the setup to an epic april fools joke.
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Oh that graphic is way off.
* Silk Road probably did $300-$400 Billion of revenue per year.
* Hit men can easily be found on the Dark Webs, usually for about $15-$30 depending if you have a coupon or not.
* They didn't mention child slave labor. I routinely hire 11 year old boys from Canada to mow my lawn.
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All,
We've had syncing issues the last few weeks. Physical contact with servers has been necessary, and it has been bad timing with real life situations. Thank you for your patience.
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OK, after messing around some more I got it to work! No sending to an "issuing address" at DR or anything, I just sent BTC to DR's main address w/my destination tag, I received no "Error while retrieving quote for outbound payment" error and the BTC showed up in my personal wallet!  Thanks for putting up w/me. Thank you for using DR! |
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Thanks TTBit, I think I get the last part about redeeming the IOU now, But my problem is that I cannot send "actual bitcoins" out of my Ripple wallet right now like you suggest in the 1st part of your message. I was hoping that I could somehow get existing Ripple BC into a DR-IOU then send to my personal wallet. Several people have said that they are doing it on DR, for example: https://ripple.com/forum/viewtopic.php?f=1&t=6019I'm confused - ripple can't hold actual bitcoins, only the IOUs. You have bitstamp ious for bitcoins in your ripple wallet and want to withdraw? it should find a path. Do you have adequate trustlines for DR bitcoin IOUs? Bitstamp -> DR ious should ripple through to your wallet. but if you have tradefortress or cousin larry ious, a path probably wont be found. |
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Point taken Sukrim! Maybe you or someone else can help me out (and probably a few others that are having the "Ripple/Bitstamp no send Bitcoin problem"). My situation: unable to get Bitcoin out my Ripple account to my personal wallet due to BitStamp gateway bridge problem, so my goal with DR is to move BC from my Ripple account to my own personal wallet. I have completed the DR registration/set-up, and see the "Issue Addresses" and the "Redemption Addresses", but I am hung up on understanding the "Issuing an IOU" & "Redeeming an IOU" instructions. I think I am supposed to send Ripples to to the BTC "Issue Address"?? (I am unable to send Bitcoin currently...due to BitStamp problem)...then DR issues a new IOU for Bitcoin? Then I "redeem" the IOU by "sending"?? it back to DR? And then DR sends the Bitcoin to my personal address? No offense "TTBit", but if someone could simplify the "Issuing an IOU:" & the "Redeeming an IOU:" sections I should appreciate it! Sort of a "Using DR for Dummies", I would greatly appreciate it!   No problem. If actual bitcoins are sent (by you, bitstamp, or anyone) to the issuing address that DR has for your ripple account (1ABCd....), DR will issue you an IOU that you can see in ripple. If you then wish to have actual bitcoins and not DR IOUs, you send the DR IOUs to DR's ripple address (rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX). But you probably see a problem - DR has a few hundred accounts, how do you tell DR to redeem to the specific bitcoin address you provided? The answer is to include the destination tag (dt) when sending. Your dt is a 9 digit account number. The first 7 digits are the account number and the last 2 are a mild checksum. example: ?dt=100039417, the dt is 100039417 hope this helps |
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Gox could have had a small problem when btc was under $30 in early 2013 that blew up in their face when the price skyrocketed. Short but not an intentional, speculative short.
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I have been around a bit and would say the ascendancy was due to spongebob stickers, alpaca socks and papa johns pizza. Call me a dork, but the novelty of transacting in something other than USD was liberating. Silk road was a bump in the (errrr...ummm) road for bitcoin.
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I'm basically shocked at how well this exchange is doing.
LOL I've since changed my opinion  |
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The only people who lost money on MtGox are people who like to take abuse. The only thing people will do when they find Mark is bend over and ask for more.
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Hi Dividend Rippler
I wanted to know... I have been using Dividend Rippler for a few weeks now and I have to say I love the transmission from my ripple account to my Bitcoin app wallet I find the process quick and easy to understand (now that is it took me a little thinking to understand it at first ...lol) though in saying that I made a transfer last night and I received the transaction in my Bitcoin wallet ..(though took an hour to go through) ....than I did another one maybe more than an hour ago and I still have not received the transaction...Have there been any reason for the long delays ?
thanks
Gergis
Yeah, we've had sync issues between DR and Ripple. I'm going to try and kick it right now. Sorry for the delay and thanks for using DR! |
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hi,
ive tried to redeem 0.05726btc but only after ive notice processing system its offline,
when do you expect to be online and transfer to my wallet made?
destination tag=100033916
Sorry about this. Trying to re-sync now. |
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If I knew something and had to buy $500k worth of BTC at mtgox right now, I'd put up "fake" walls, hoping to entice a large sell. Looking at the depth, you can't buy 3000 BTC without moving the market $100+
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if Gox comes through and makes good on all BTC and USD, 90% of the forum will be eating crow. Myself included.
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I'm stuck with this verification.
"Registration is pending confirmation. Please review and send 1.0 XRP to rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX?dt=1 from your ripple account rPm9oEk5RWY7k6ZoRHD3u67H58FG3jJVzH to confirm the changes. This change request expires 5 minutes after it was originally requested."
When I send the 1 xrp to rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX?dt=1 it was asking for destination tag. I did search my ripple number in the dividend rippler search but no account number appears.
ah yeah, there is now a separate line for destination tags. leave off the "?dt=1" and send to DR's address: rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX with a destination tag of: 1 |
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What to input in destination tag? Where to find my account number?
When redeeming (DR IOU's to specie), you can find your destination tag by putting your ripple address in the search bar. It will be under "To Redeem". It will be a 9 digit number To Redeem: rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX?dt=100123411
the destination tag / account number is "100123411" let me know if any issues. Thanks! |
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Everyone is assuming all the trades were at arm's length, which they may not have been. If a broker has an order to sell at $500 if the price gets to it (a stop order), and you own a certain % of the orderbook, it is in your interest to fill your own orders down to a certain point, then bid for the offered coins. Yeah, some people got cheap coins at the expense of the large trader, but he was able to score the majority at $110.
It works because few people have large standing orders in the $200-$500 range, the only reason you would get filled is when you don't want them.
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Trying to dumb this down for me so I can understand it better and explain it to my friends:
I request $1,000 to be wired to me from Company A. Since there are so many wires with Company A, they have developed their own automated process. I notice a flaw in their code, so that after they send the wire, I can screw with the receipt that they get from the bank, making it seem to them that the wire didn't go through. Their flawed system doesn't check the bank balance, it just goes off of their flawed receipt. Therefore, I can request they send again.
Is this about accurate?
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But wouldn't there be some evidence of this? A MtGox employee talking off the record in a chat, etc? Seems more likely employees are being directed to not blame it on any government entity/regulation to buy them as much time as possible. Search the forums for people talking about their (US) banks refusing to wire money to Mt Gox and/or Bitstamp. Exactly - TO an exchange. Have there been any reports of a receiving wire denied? I suppose there very well may be a bottleneck, but it would have been pointed it out as the source. Also, some USD transfers would have made it through. Instead, you have to pay 5% fee and wait. Sounds like MtGox can arb their assets if you pay the 5% Best case scenario I see: MtGox is terrible at hedging. A customer would deposit Pesos and ultimately withdraw USD. That would mean MtGox is sitting on weak currencies such as PLN, PESOS, BRL. |
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Haven't you ever dealt with bureaucrats before? Especially in the banking area, they don't always act directly. There are lots of things they can do that get results without laving a paper trail. All it takes is a suggestion that certain behavior might be problematic and banks will start "voluntarily" deciding to exercise their prerogative to refrain from doing business with troublesome customers or entities.
But wouldn't there be some evidence of this? A MtGox employee talking off the record in a chat, etc? Seems more likely employees are being directed to not blame it on any government entity/regulation to buy them as much time as possible. |
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