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So the client is a blackCoin fork, correct? Does the client show what the current block height is?
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Like a fool. An Ass, for assuming that MagicalTux knew what "cold storage" means (or at the very least would have bothered to monitor it for leaks).  |
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Can we instead call this fork GoxCoin?  +15 GXC |
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One of the reasons for the drop last week is sizeable MTGoxBTC holders selling for MTGoxUSD in order to position themselves to sue.
How does holding USD vs BTC at mtgox make any difference to one's legal standing? Has a lawyer anywhere explained how that makes sense? There's only one reasonable explanation for why MtGox users were selling at ridiculously low prices (relative to Bitstamp), especially knowing that it would be even more difficult to withdraw fiat than BTC: because they were hoping to buy back cheaper. Disabling withdrawals essentially set up a control experiment, and the result was a textbook demonstration of how "endogenous dynamics" drive a market until it reaches the extremum, and reverses. |
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rGxduQLujpzbopoay1EJjbdg6fcQRNHLwa
Waiting to receive FUN, LOL, CAC, and DAB.
Then to start trading (FUN/LOL, FUN/CAC, FUN/DAB, etc). Anyone placed any offers yet?
Just sent you some FUN and some CAC You can buy DAB on the market. Everyone else should make some market orders too. I am making as many listings as I can. I wont be responding much to this post cause I dont wanna see like I bump on purpose (which I am not) - if anyone didn't get their FUn money let us know. Everyone should have it up to this point. Don't forget to use it in the trade tab inside ripple. Those graphs are pretty awesome too!!! Here's a chart of the FUN/CAC order book. Its lopsided due to an ask of 10 billion FUN. With only 10 million CAC, I cannot post a bid of comparable size, so the order book looks whack. Also, the CAC/DAB and FUN/DAB pairs seem to have run out DAB. If you have some DAB, offer it. for fun!  |
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Hey, that's cool. I'll be doing some trading when I get a few more XRP. I didn't know I needed an extra 5 (above my reserve) to do trading. This thread is great and useful. It requires a tad more XRP above the minimum reserve for each trust line, and each trade offer (don't remember the exact amount). Sent you a bit more.. |
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TradeFortress's lies. And quite ironic, considering that he should know a thing or two about centralized vs decentralized, due to his first-hand experience losing/stealing 4,000+ BTC from users of his inputs.io wallet service. Do you know how many times i've heard ripples mentioned in mainstream media? zero.
Its just not interesting
Believe me. Its interesting. Its just too difficult to grasp. You think Bitcoin is hard? Try getting a grip on Ripple. Or rather .... try getting grandma to get a grip on Ripple. If I am understanding it correctly, whereas Bitcoin can send bitcoin anywhere in the world, instantly, free of charge .... Ripple can send *any currency* anywhere in the world, free of charge - and convert from any currency to any other currency in the process, free of charge (or for the cost of an XRP, which is 2 cents right now). Ripple can also do conversions between Bitcoin and all alt coins. So one might say that Ripple is Bitcoin on a mega dose of steroids. But grasping and using the system is currently too difficult for the average person. And I believe Ripple markets itself as ultimately being the invisible backbone to the banking system. I don't believe its intended to be B2C but B2B and as such, you aren't going to see "Joes coffee shop now accepting Ripple". The question is whether the Ripple people are going to pour the millions of dollars necessary into (1) simplifying the system and (2) selling it to the world economy. Because believe me, what it does, is new, interesting, and extremely needed. And yet you explain nothing of how it works. It has bid/ask offers and trade matching built into the protocol - so its "decentralized exchange". Instead of a new "block" every few minutes, there's a new "ledger" every few seconds. So whereas blocks in a blockchain only keep track of how much coin is at each address, the ripple ledger also keeps track of bid/ask trade offers. Now, in order to trade on ripple, you still have to trust an "issuer" aka gateway. But that's no different than any other way you can currently trade bitcoins - by depositing bitcoin at an exchange, you implicitly trust that exchange (the exchange could disappear overnight and steal your deposited funds). There's another thread where people are trying out ripple - someone created one quadrillion FUNcoins and is giving them out, just for learning purposes: Start using Ripple, learn with no risk. The FunCoin Gateway |
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rGxduQLujpzbopoay1EJjbdg6fcQRNHLwa
Waiting to receive FUN, LOL, CAC, and DAB.
Then to start trading (FUN/LOL, FUN/CAC, FUN/DAB, etc). Anyone placed any offers yet?
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Someone I know is heavily involved in Ripple, to the point of trying to set up one of those 'gateway' things as a business. He's a smart guy and I don't think he's gullible enough to fall for an obvious scam, but perhaps the Ripple people are clever as well and have some secret to making money beyond their public declaration that they've 'premined' some ripple for the purposes of bringing in a return as a business (I'm pretty sure they had originally posted that on their web-site, didn't they?).
I still have no clue how this crap works but if doesn't give me real bitcoins or cash at the end the day he's going to be in trouble Of course it does. Ripple is a deposit method on Bitstamp. You can transfer funds on ripple to bitstamp, and buy BTC. Or you can just do it automatically from the Ripple client. Just click "send", put in a BTC address, and it will use the cheapest bitcoin bridge (usually Bitstamp's) to deliver BTC to the bitcoin address. See below, I have both XRP and USD (bitstampUSD) in my ripple wallet. I can choose to send either, it will automatically be traded for BTC on the ripple order books, and sent straight to the bitcoin address.  |
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Someone I know is heavily involved in Ripple, to the point of trying to set up one of those 'gateway' things as a business. He's a smart guy and I don't think he's gullible enough to fall for an obvious scam, but perhaps the Ripple people are clever as well and have some secret to making money beyond their public declaration that they've 'premined' some ripple for the purposes of bringing in a return as a business (I'm pretty sure they had originally posted that on their web-site, didn't they?).
I still have no clue how this crap works but if doesn't give me real bitcoins or cash at the end the day he's going to be in trouble Of course it does. Ripple is a deposit method on Bitstamp. You can transfer funds on ripple to bitstamp, and buy BTC. Or you can just do it automatically from the Ripple client. Just click "send", put in a BTC address, and it will use the cheapest bitcoin bridge (usually Bitstamp's) to deliver BTC to the bitcoin address. |
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Can you layout a simple step by step scenario with 2 users (if users are issuers not gateways) who are trading BTC/USD in Ripple?
Just a scenario if I want to sell 1 BTC for 1000 USD and then a few days later sell those 1000 USD to x BTC. I dont understand how that could work without gateways (at the end I want real BTC and real USD not IUOs - if a gateway is needed then lets add it to the scenario with all trust implications).
You are correct, it does not work without gateways. Just like there is no bitcoin trading without a bitcoin exchange. Okay, you can use localbitcoins, but even in that case, the price is agreed base on the price at an exchange. And exchanging through an individual on localbitcoins would be like exchanging through ripple where the "gateway" is an individual rather an a centralized exchange - you still have to trust them to pass you the "real money" as you pass them the coins. |
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What makes you interested in Mastercoin and Ripple? They're apparently both scamcoins.
I agree with you on MasterCoin. But I beg to differ on Ripple. Current USD gateway cap is $2,630,696.87 -- $2.2 million of which is held as Bitstamp USD. That's "gateway capitalization" - literally dollar funds held in the form of bitstamp USD on Ripple. It is NOT "market cap" - where you take the price of coin and multiply it by the total float, to get some outrageous number for a 2-day-old alt-scam-coin claiming the total market is worth a hundred million dollars. Just to be clear - "gateway cap" is NOT "market cap". To the OP, whichever tickles your fancy, I highly recommend you dollar-cost average your investment over several months (6-12 months). Do not jump in head first! Best of luck & have fun! |
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What all time high is being referred to? Spent on XRP? Traded? Volume?
XRP price, it peaked at 30 to the dollar (or $0.0333 per XRP). The old high was 50 to the dollar ($0.02), which hasn't been seen since June. The wall is building up at 38 now though, so I guess we'll get some consolidation now... Update: some whale seems to be chopping down the wall. It was $100k (over 4 million XRP) at 38. Continuous buying has cut it down to $23k now (874k XRP). A fraction of its former size.  |
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What all time high is being referred to? Spent on XRP? Traded? Volume?
XRP price, it peaked at 30 to the dollar (or $0.0333 per XRP). The old high was 50 to the dollar ($0.02), which hasn't been seen since June. The wall is building up at 38 now though, so I guess we'll get some consolidation now... |
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Wow XRP broke the all-time-high. CNY gateway cap over CNY 2,000,000 and USD gateway cap over $1,000,000. record-breaking day  |
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If anyone wants to implement my original 2-phase-commit/non-blockchain Ripple protocol design, it's here: http://archive.ripple-project.org/Protocol/ProtocolIt's only based on IOUs and routing through a mutual credit network -- no trustless cryptocurrency involved. And you'd need to give it a different name, of course  I've not had the mental bandwidth to follow the Ripple-against-the-world discussions as of late. However, I find it somewhat puzzling that the above comment went utterly unresponded to. Perhaps I am just being trolled. Yes, it is somewhat puzzling. I wish I had something to say, but I'd have to read the original design. Maybe call it FuggerCoin? or MutualTrustTokens?  I just can't get excited by a design/spec without an implementation. I'll stick with XRP for now, which is pushing 80 XRP/USD at the moment, led by dumping of CNY (gateway cap surged from CNY 1 million to CNY 1.4 million overnight). |
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So there's Nxt, MasterCoin, BitShares (or is it ProtoShares?), eMunie, Open Transactions, all of which are supposedly going to be launched/released soon (any others?). It is very easy to market vaporware - just claim that your product has feature X, and it does. Since its just vaporware it can have all the best features before it even exists. Ripple, on the other hand, actually exists and already has one major gateway (kraken next in line) and two chinese gateways (with rising CNY capitalization btw, up from 250k CNY in october to 539k CNY on Nov 12th to 787k CNY today). The competition hasn't even left the starting line. If you think of Open-Transactions as a competitor to Ripple, then you are misinformed. That's like calling openssl a competitor to Excel. Also, OT has been publicly available for a long time: https://github.com/FellowTraveler/Open-TransactionsOkay then, I should have said Invictus Innovations, Monetas, and Ripple Labs. I know OT has been available, and you're right that its not a fair comparison to Ripple. Because OT is an API around Chaumian cash/Lucre coins. The p2p exchange is a "feature" which exists only on the roadmap, and in various proposals for a "holy grail" bitmessage-based exchange and multi-sig voting pools. Then there's Ripple, which already has a distributed ledger and is constantly matching bid/ask offers every few seconds. Pretty good volume today, users were trading $1k chunks of bitstamp USD for XRP. And deposits at the chinese gateways broke the CNY 1,000,000 mark. |
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