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Author Topic: ripple: let's test it!  (Read 43518 times)
SebastianJu
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July 13, 2013, 09:19:34 PM
 #521

How can i exchange XRP to BTC? I tried sendint XRP to bitstamp but they sent it back because its not for sending ripple. They told me about the advanced tab in ripple but i cant find out how to exchange xrp to btc in ripple.
Anyone can explain?

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July 13, 2013, 09:31:57 PM
 #522

How can i exchange XRP to BTC? I tried sendint XRP to bitstamp but they sent it back because its not for sending ripple. They told me about the advanced tab in ripple but i cant find out how to exchange xrp to btc in ripple.
Anyone can explain?
I'm assuming you mean BTC issued by Bitstamp.

The easiest way to do this is as follows:

1) In the Trust tab under Advanced, create a BTC pathway to Bitstamp. Set the limit higher than the amount of BTC you want to hold. (This essentially agrees that people, including you, can pay you BTC by making Bitstamp owe you BTC.)

2) Hit 'Send' and enter in your own Ripple address. Set the currency to BTC and enter the amount of BTC you want to buy.

3) If the transaction is possible, you will be given the option to pay with XRP. If the amount is acceptable, click the green button.

The more complex way to do this is as follows:

1) In Trade tab under Advanced, select BTC/XRP.

2) Click the Change Issuer button next to BTC and select Bitstamp.

3) At the bottom, click 'Order book' to see the offers available.

4) Click 'Buy BTC' and make an offer. If it completes immediately, you're done. Otherwise, it will stay on the order book.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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SebastianJu
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July 13, 2013, 09:44:36 PM
Last edit: July 30, 2013, 05:17:45 PM by SebastianJu
 #523

How can i exchange XRP to BTC? I tried sendint XRP to bitstamp but they sent it back because its not for sending ripple. They told me about the advanced tab in ripple but i cant find out how to exchange xrp to btc in ripple.
Anyone can explain?
I'm assuming you mean BTC issued by Bitstamp.

The easiest way to do this is as follows:

1) In the Trust tab under Advanced, create a BTC pathway to Bitstamp. Set the limit higher than the amount of BTC you want to hold. (This essentially agrees that people, including you, can pay you BTC by making Bitstamp owe you BTC.)

2) Hit 'Send' and enter in your own Ripple address. Set the currency to BTC and enter the amount of BTC you want to buy.

3) If the transaction is possible, you will be given the option to pay with XRP. If the amount is acceptable, click the green button.

The more complex way to do this is as follows:

1) In Trade tab under Advanced, select BTC/XRP.

2) Click the Change Issuer button next to BTC and select Bitstamp.

3) At the bottom, click 'Order book' to see the offers available.

4) Click 'Buy BTC' and make an offer. If it completes immediately, you're done. Otherwise, it will stay on the order book.


Both ways seems to not work for me. I copied the address that is in bitstamp where it says deposit ripple. Then in advanced in ripple i go to trust, add and copy the address. Then i chose 10btc. But it tells me "Account does not meet the minimum XRP reserve" even though i have 29999 XRP.
When i go the other route, change issuer, then add the bitstamp address and click submit i only get back to the trade tab. "You must select an issuer..."

So what should i do now? I used the ripple-address i get form bitstamp at ripple deposit. I sent you my ripple address already via pm.
Whats the problem and how to solve?

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July 13, 2013, 10:20:28 PM
 #524

Both ways seems to not work for me. I copied the address that is in bitstamp where it says deposit ripple. Then in advanced in ripple i go to trust, add and copy the address. Then i chose 10btc. But it tells me "Account does not meet the minimum XRP reserve" even though i have 29999 XRP.
That's really bizarre. Do you have some absurd number of offers on the books or trust paths already created?

Quote
When i go the other route, change issuer, then add the bitstamp address and click submit i only get back to the trade tab. "You must select an issuer..."
You should just be able to enter "bitstamp" if Bitstamp is in your wallet already.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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SebastianJu
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July 14, 2013, 12:09:37 AM
 #525

Both ways seems to not work for me. I copied the address that is in bitstamp where it says deposit ripple. Then in advanced in ripple i go to trust, add and copy the address. Then i chose 10btc. But it tells me "Account does not meet the minimum XRP reserve" even though i have 29999 XRP.
That's really bizarre. Do you have some absurd number of offers on the books or trust paths already created?

Quote
When i go the other route, change issuer, then add the bitstamp address and click submit i only get back to the trade tab. "You must select an issuer..."
You should just be able to enter "bitstamp" if Bitstamp is in your wallet already.

I doubt that i have bitstamp already included. And i dont have any offer or trust paths. The only thing i did was that i tried to send most of the xrp to bitstamp because i thought i can exchange them there. They were sent back shortly after. Thats all i did.
How to solve this?

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JoelKatz
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July 14, 2013, 12:34:34 AM
 #526

I doubt that i have bitstamp already included. And i dont have any offer or trust paths. The only thing i did was that i tried to send most of the xrp to bitstamp because i thought i can exchange them there. They were sent back shortly after. Thats all i did.
How to solve this?
If you can privately send me your ripple address (the thing that starts with an 'r'), I can take a look at your account to make sure there's nothing weird about it. Otherwise, you can file a bug report at https://github.com/ripple/ripple-client/issues

I've never head of anything like either of your two issues.

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July 14, 2013, 01:15:21 AM
 #527

I can't quite figure this system out. I deposited USD to my ripple wallet through a gateway (snap swap), but I apparently cannot convert those snap swap USD into XRP. I tried placing an order through bitstamp but it didn't work as my USD came through a different gateway.

So how do I convert those USD to XRP? If I can't, then what is the use of new gateways for USD like snap swap?
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July 14, 2013, 06:33:56 AM
 #528

I can't quite figure this system out. I deposited USD to my ripple wallet through a gateway (snap swap), but I apparently cannot convert those snap swap USD into XRP. I tried placing an order through bitstamp but it didn't work as my USD came through a different gateway.
When you place an offer, you have to specify the exact asset to be traded. If you have Snapswap USD, you have to place offers on the SnapSwap USD order book.

Quote
So how do I convert those USD to XRP? If I can't, then what is the use of new gateways for USD like snap swap?
The easiest way is to make an XRP payment to yourself and pay with USD. Alternatively, you can trade on the Snapswap USD to/from XRP order book. At the moment, if I'm reading this right, you can actually get very slightly more XRP per Snapswap USD than per Bitcoin USD!

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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July 14, 2013, 08:02:22 PM
 #529

I can't quite figure this system out. I deposited USD to my ripple wallet through a gateway (snap swap), but I apparently cannot convert those snap swap USD into XRP. I tried placing an order through bitstamp but it didn't work as my USD came through a different gateway.
When you place an offer, you have to specify the exact asset to be traded. If you have Snapswap USD, you have to place offers on the SnapSwap USD order book.

Quote
So how do I convert those USD to XRP? If I can't, then what is the use of new gateways for USD like snap swap?
The easiest way is to make an XRP payment to yourself and pay with USD. Alternatively, you can trade on the Snapswap USD to/from XRP order book. At the moment, if I'm reading this right, you can actually get very slightly more XRP per Snapswap USD than per Bitcoin USD!

OK, now I think I figured both of those out. Thanks.

How does making a payment to myself work? I see how to do it, but what is the conversion based off? Who is setting that rate and who am I actually buying XRP from if I do it that way? From Opencoin? Also, what is the difference between making an XRP payment to myself but paying with USD and making a USD payment to myself, which does not seem to be possible (I get a message "No Path Found")?
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July 14, 2013, 08:10:44 PM
 #530

Actually, now I just tried to send a payment to myself and got an error: Path could not send full amount.

What does that mean?

I tried to send 1000 XRP to myself, paying in USD. My wallet contains both more than 1000 XRP and more than $11 or so that it would convert to.
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July 14, 2013, 08:40:55 PM
 #531

How does making a payment to myself work? I see how to do it, but what is the conversion based off? Who is setting that rate and who am I actually buying XRP from if I do it that way? From Opencoin?
It works the same as any payment. The pathfinding engine looks at what assets you have and what assets the recipient will accept and then it looks at all the liquidity available in the ledger (ripple paths and order books) and finds the cheapest path(s) to make the payment. The payment can even pull from multiple paths and multiple order books.

Quote
Also, what is the difference between making an XRP payment to myself but paying with USD and making a USD payment to myself, which does not seem to be possible (I get a message "No Path Found")?
The payment interface requires you to select the recipient account (and destination tag if appropriate), destination currency, and destination amount. You can then pay with any currency you hold, provided you have a sufficient amount and there's sufficient liquidity available in the ledger. (There are a few exceptions. For example, you can't make a payment to yourself with the same source and destination currencies.) This is basically Ripple's primary feature.

Quote
Actually, now I just tried to send a payment to myself and got an error: Path could not send full amount.
That's a bug and starting Monday, fixing it will be my top priority. (It seems somehow the pathfinding engine selects on order book and the path selection engine checks a different order book to see how much money the path can deliver. I have good logs and reproducible test cases.)

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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July 14, 2013, 08:51:00 PM
 #532

That's a bug and starting Monday, fixing it will be my top priority. (It seems somehow the pathfinding engine selects on order book and the path selection engine checks a different order book to see how much money the path can deliver. I have good logs and reproducible test cases.)

Good to hear this. Good luck in fixing this bug. I had difficulties to trade bitcoins because of it.


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SebastianJu
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July 23, 2013, 02:17:01 PM
 #533

Any info on my account? I sent you the details already...

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July 24, 2013, 03:09:46 AM
 #534

I still get the same error when I try to send a payment to myself.
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August 06, 2013, 05:23:55 PM
 #535

Trying to figure out the Ripple thing.

Have 20k xrp from the giveaway. Added trust in a few users who posted their addresses at the beginning of this thread.
- I wish there was an easy way to add multiple people.
- I wish I could see with what amount people trust me.
- I wish people were notified when someone trusts them. (There is potential for abuse here, so the notifications could be blocked.)

If anyone wants to trust me, I am rnMSaj25TY9h9XLaFViegeGAHatctMaSk2 .

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August 06, 2013, 05:39:26 PM
 #536

Don't just trust random strangers on the internet, it means you are willing to make payments on their behalf (and on behalf of they people they trust and so on) and trust the person to pay you back. Trust is for small amounts only and for close associates only.

ROI is not a verb, the term you're looking for is 'to break even'.
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August 06, 2013, 07:24:45 PM
 #537

Don't just trust random strangers on the internet, it means you are willing to make payments on their behalf (and on behalf of they people they trust and so on) and trust the person to pay you back. Trust is for small amounts only and for close associates only.

Trust is for Gateways according To The devs

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
SebastianJu
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August 06, 2013, 07:34:52 PM
 #538

I would like to give trust but feel ignored a bit? My problem cant be solved or how is it?

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September 02, 2013, 07:16:25 PM
 #539


because of the link to this thread in the ripple client still user request to get XRP:



Ripple please lock your giveaway thread Roll Eyes

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September 08, 2013, 07:48:02 AM
 #540

Any kind soul out there want to help me get started with Ripple? >>> r3X2xmZBbabCs2AmCtomqsktb45q7PLhbx <<<
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