Repeating the same shit over and over doesn't make it true.

What do you think your balance at the exchange is? It's an IOU to start with.

You don't need orders at all when the currency code (in this case "USD") is the same. If someone extends trust to more than one person/gateway with the same code that is telling Ripple that that person is thinks they're both equally good and can be exchanged 1:1 (within that persons trust limits). Such people may notice the balance on the individual trust lines move while their overall balance stays the same. There are currently people doing this and they're acting as liquidity providers.

Currently, since Bitstamp charges .2% on IOU transfers and WeExchange charges .5% then the person initiating the exchange pays .7% for that part of the path.

To try this out yourself, if you hold only only of USD-Bitstamp or USD-WeExchange, go to the "send" page and enter the destination of the opposite gateway (e.g. a send to WeExchange if you hold USD-Bitstamp) and enter a small amount (just don't hit the "SEND" button if you're just looking). If you enter USD$1 it should say you can get $1 to the destination by sending USD$1.007.

So, to answer the original poster, you can right now exchange USD between WeExchange and Bitstamp at .7% in seconds. I've done it a bunch of times and it's faster than moving BTC between exchanges through the blockchain.

Because they don't accept XRP. Only BTC, USD, EUR, GBP, CHF, AUD, and JPY.

Um, that's the BTC/XRP rate, higher means you get less for your XRP. All the offers I've seen on the forum have been way worse then what you can get inside Ripple.

It doesn't. The transaction described is just like a bitcoin-otc transaction; if you send a non-reversible payment to someone first you're trusting the other party won't just go away.

That's why I think all these BTC/XRP trade offers I see on this forum are moronic (other than those looking to by a starting 300-500 XRP). The prices inside Ripple are way better and the only entity you need to trust is Bitstamp (in order to get actual BTC or USD out). I'd rather trust Bitstamp then some random dude on this forum.

If you're asking about a BTC/XRP exchange look at these posts:

• https://bitcointalk.org/index.php?topic=162630.0
• https://bitcointalk.org/index.php?topic=178402.0

No. Just No. Stop spreading FUD, it's clear from your posts you have no clue how Ripple works nor do you care to learn or contribute constructively.

For good and obvious reasons until their out of beta and stable.

The whole point of this implementation of Ripple is decentralization. Once it's out of beta OpenCoin won't control the servers anymore and it will be as decetralised as bitcoin.

This is not true in the way you state it. They made 100 billion XPR. They gave away some large percent to the founders; some large percent they'll keep for future use; and the lions share they'll continue to give away. If you don't like that (I'm not pleased with some of the details of the give-away so far) then either don't use the Ripple system or just use the amount of XRP you got from the give-away and never buy or sell any. The give-away on this forum started with ~50,000 XRP and is now down to ~20,000XRP. A life supply of XRP is probably 1000 to 2000 for most people. Personally I don't give a shit what the price of XRP is and if the founders or OpenCoin makes money with it, as long as the system remains cheap enough for new users. (And the XRP needed for reserves and transactions can be lowered by consensus of the network if XRP somehow becomes expensive, the network would want to do that as a network too expensive to use benefits no one).

This is probably your only valid point. The whole idea of money, fiat, currency exchange, loans, interest rates, inflation, deflation, etc is too complicated for most people. Yet somehow they use money. Some people can't manage Paypal; Ripple may not be for them.

And yet bitcoin is doing fine with not everyone understanding it. A lot of Ripple is simpler, more like Paypal, once you start to use it. Once clients evolve it should be easier. It would be easy for someone to write a client that hides all the details and just gives a "send grandma money" button (okay, a bit more complicated, but you get the idea). The current UI has problems but I get the impression a lot more effort is being expended (rightly so) on the back-end rather than the client at this time.

For that matter, neither would banks. Your bank balance is the amount your bank owes you. Your balance at MtGox is the amount they owe you. Gift certificates are merchandise owed. Pre-paid credit cards are an IOU. Etc.

I've heard you repeat that false analogy before. You clearly have no clue about Ripple. The original classic.ripplepay.com has been functioning successfully for years. If you don't like it then don't use. The rest of us will move forward.

This is completely wrong.

If you owe money on a mortgage do you think they give a shit if your friend didn't pay back money you lent them? Do they give a shit if you lost your job. No you still owe the debt. If A owes B; and B owes C; and A refuses to pay that's B's fault. C doesn't care, B still owes them. If B welches on their debt to C then B is an asshole and no one will trust him anymore. In particular if I'm C and I know B in "real life" then I'll make their life difficult.

So thanks for telling everyone that you won't pay your debts if someone ever defaults on a debt to you. I hope everyone realizes that means they can't trust you.

And their calculation was off by at least a factor of 100,000 because they started guessing without even bothering to look anything up first.

There are some good questions and answers at StackExchange relating to Ripple wallets.

In particular:

• How exactly is my account/wallet at ripple.com secure?
• What do the “Fetch Wallet” options when opening a Ripple wallet mean?

I'd recommend using any multiple of 50 that is >=300 plus 0.1 or 1 or something small. The reason is that transactions cost 0.000010 XRP so if you give 400 then the first thing the new account holder does drops them to 399.999990 and the last 49.999990 of that can't be reserved for trust lines or trade offers.

Also, giving a fraction extra avoids the common misunderstand of new users: when they see truncated balance summary go from 400 to 399 they think the transaction cost them 1 XRP instead of 0.0000010 (with 400.1 or 350.1 they wouldn't see the balance summary change).

Just use https://ripple.com/forum instead (IMHO).

Because no one has made any trade offers yet (or all such offers have been filled or cancelled).

Currently only one person (HostFat) has any SLL-therock in Ripple and they're also the only person with EUR-therock. If they don't enter/accept any offers they'll be no one to trade with at the moment. The only mention of Ripple on therock's website I found was in Google cache so perhaps they no longer support it; at any rate I have no idea how you can get any from therock.

You can add any trade offers you want for EUR/SLL, SLL/XRP, SLL/USD, etc. Make sure to set the issuer of SLL to therock's ripple address: rLEsXccBGNR3UPuPu2hUXPjziKC3qKSBun. To enter a BUY offer you need to hold some of the counter currency; to enter a SELL order you need to hold some of the base currency.

For trading EUR/SLL (or SLL/EUR if you prefer) you can set the EUR issuer to either therock or Bitstamp (rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B). For trading with XRP there is no XRP issuer. For trading with other currencies (BTC, USD, GBP, etc) you'll likely want to use Bitstamp as the issuer.

Then you haven't been paying attention or didn't care enough to search. I've seen JoelK (I think) answer these kinds of questions at least a few times.

Did the client log you out? It loses it's balance information when it does (until it gets re-logged in, not permanently).

The webclient uses websockets to talk to the ripple servers and occasionally that connection gets reset and it can take the client a few seconds before it gets a new connection.

Anyway, your account currently has exactly 300 XRP.

Except that Ripple pre-dates bitcoin. classic.ripplay.com and villages.cc are where some previous implementations exist and thrive with their niche communities. Ripple never had the backing of someone like OpenCoin to push it to a wider audience and to make it distributed (once they're out of beta).

200 is not enough to do anything. A more reasonable minimum to send to a new account would be 350.1 XRP.

The same reason there is a difference in price between any pair of markets.