I can instantly get 140K-150k for 1BTC through Ripple itself at market price.   There are people asking for 170K right now and they'll get that if BTC keeps going up.

They are pretty quick.  I use them often.  I'm just trying to see if I can do a local cash deal.  I appreciate your offer.

That's a 12% vig at current prices.  Bitinstant is a better deal.

I will pay $1000 cash for an an equivalent amount of coins at the MT GOX rate + 1% at the time of exchange.

I'm in Sandusky, Ohio area until the end of this week (on business) if anyone is interested.

I'm buying.  PM me how many you have and what you want for them.

Another transaction question -

I placed an offer to receive 11, 680 xrp for .08 BTC

Half of the transaction took place and then it said I had 5,840 xrp of the order remaining.

Then I received a notice that I SOLD 5,840 XRP for .04 BTC (THE REMAINING ORDER WAS TO BUY).

However, my balance of BTC did not increase by .04 (which it should have if I sold 5,840 XRP for .04 BTC).   Is this a glitch.

I am also not sure if my XRP balance went up another 5,840 because I have no transaction/balance history info in my account. (correction: the balance did go up for the full 11,680 XRP so it looks like the transaction went through correctly but the interface is labeling it incorrectly?)

8 hours ago   You sold 5,840 XRP for 0.04 BTC.This order has been funded.
10 hours ago   You sold 0.04 BTC for 5,840 XRP.This order has 5,840 XRP remaining.
10 hours ago   You created an offer accepting 11,680 XRP for 0.08 BTC

Thanks.

This is confusing.  Why wouldn't just be able to trade Ripple balances in regular trades?  Why would a "virtual gateway" be necessary?  How are they different?   Could you give me a concrete, specific example of what a virtual gateway would/could do that I couldn't do in a regular trade?

Joel before I forget to ask again - why is there no history of the fees and transactions within the account interface.  And even when I go to the public transactions, I don't see anything about the fee to the exchange.  But even if it is there, why isn't a history of EVERY transaction available within the account?  I would think this would be a given. 

The problem with this is that there is a fee for this in Ripple if you are using exchange IOUs (which is what most people will be using).

Why would they charge a fee when an IOU changes hands?  Unless they are redeeming the IOU they have nothing to do with the transaction.  It would be like me writing on a piece of paper that I owe you $10US and you pass it on to 100 people before it gets redeemed by me.  Why in the world would I feel like I have the right to take a few pennies from every one of those 100 people as it moves around?  It's just crazy (IMHO).


Well I agree they need to make money somehow, I'm just not sure how charging AFTER the IOU circulates makes sense.



I'd love to but I'm still not sure on the regulatory stuff.  No one answered my questions on that.  And what is the difference between a virtual gateway and a competing gateway?

Is there anyone me or a company can hire to consult with us to do the proper technical steps to create a competing gateway using the Ripple system?  I have investors that are interested in creating an exchange and Ripple looks interesting but we're not programmers and we don't have the technical understanding necessary to do it without help.

That doesn't make sense.  I did a transaction on the Trade interface where I sold BTC IOUS for USD IOUS and it charged me a BTC fee.  There is no doubt.  I however, have no idea about what exactly happened because there is not transaction history within the interface. 

OK.  So no fee when I add the IOU to ripple, but a fee every time I use it.  Is that correct?

Let's say someone sells me 3 XYZbucks for $10 USD-Bitstamp.  They don't turn the USD in for actual USD in their Bistamp account, but in turn want to spend it on something else.  Are we all paying a fee down the line every time we use that USD-Bitstamp in Ripple? If so, that really sucks.

Oh - and where is the transaction history?!

So I get charged to get an IOU in Ripple and then I get charged every time I use the IOU.  WOW!

That would be like you putting your gold in a bank and them giving you dollars (when that actually happened), except they charge you a fee for those dollars and then ON TOP OF THAT - every time you bought something with a dollar they charged you a fee.  Nuts.  Crazy.    Is that what you are saying is occurring here?  If so, I don't see this going very far.

Oh I almost forgot, PLUS I'm getting charged a fee in ripples too (albeit small but still).  I thought the ripple fee was the only fee once the IOUS were in the Ripple system.

In addition, why is there no history of these trades and fees in the interface?  That question hasn't been answered yet.

I'm confused.   Once I move something into Ripple (BITCOIN or whatever) shouldn't I be able to trade IOUS without additional fees?

I already paid a fee when I moved the Bitcoin into Ripple.  Are you saying I pay them on any transaction I do inside Ripple too?

And if this is the case, why isn't there a transaction history where these fees are visible and I can see them.  I don't see anything but a decreasing balance.  No history other than a history of orders (which I can't tell if they were fulfilled or not).   That's not very useful.

I did a small transaction of BTC to USD in Ripple.  .01 BTC

However it seems that it took more than .01 BTC.  Why?   And why can't I see a list of every transaction including the actual amount that was taken?  I'm not sure how much of my BTC balance was taken over the .01 BTC but it is definitely more than .01 BTC - very annoying and even more annoying that I can't look and see what my balance was before the transaction and then after (HISTORY). 

I thought the transaction fee is in ripple.  If there is some other transaction fee (in BTC) why isn't that explicit and transparent?

IOUs are securities no?  There are three broad categories of securities - debt, equity and derivative.

I'm not a lawyer and not up on all the legal ramifications, but I am hoping the OpenCoin and its people have some answers to these type of concerns.  A regulatory attack would put a pretty big damper on a project like this.

On the issue of exchanges and transactions...

How will this work in the current US legal framework?

Doesn't transacting in various currencies invoke Fincen and Securities and Exchange regulations?

I understand some of the exchanges might be licensed but once you are transacting inside of Ripple, could violations be occurring that could cause this concept not to work due to regulatory pressures or has this been thought out and accounted for?

The "send" example worked.  Thanks.

I see a whole bunch of offers for DYM/XRP but none for DYM/BITCOIN-bitstamp 

I'm confused a little but I thought I saw somewhere that one of the benefits of this system is that it will find a path between what you have and what is being offered.  So if I wanted to use BTC to pay, it would let me by converting it to XRP and completing the transaction.   Is this incorrect?