ripple: let's test it!

[OgNasty]

I'll play.

r3hRKGL1JKWXJDujchZXrs6Pa16xsM6JjS

[1715429669]

1715429669

[1715429669]

1715429669

[1715429669]

1715429669

[1715429669]

1715429669

[duckbillp]

This all looks quite interesting. I've signed up, but it seems there is no possibility to get XRP at the moment (I was too late for the giveaway). Does anybody have 300 XRP (should be enough to enable the basic features) or so to spare?

Ripple address: rsa8BE2DfzLC52XQMUv3gECoZXQL7FNGig

sure, it's done.

Thanks Molecular, that's appreciated.

[molecular]

How would I technically go about exchanging my bitstamp IOUs for -say- bitcoin-central IOUs?

If you want to redeem those IOUs through bitcoin-central, you can just go through bitcoin-central's withdraw process. The IOUs will be exchanged during the payment process.

Otherwise, you should first drop the credit you extend to the issuer whose IOUs you want to get rid of to signal that you want to get rid of those IOUs. Otherwise, you may just get them back immediately. This will also hint to other people that you prefer bitcoin-central IOUs to bitstamp IOUs. Other people who need to go in the other direction will then preferentially use you, giving both of you the IOUs you prefer (this isn't fully implemented on the network yet but should be in the next week or so). That way, they pay some of the fees.

To actually force the IOUs to change without making a payment to someone else, you'd need to either take an offer with the same currency on both sides or create a circular payment path through someone else that pushes IOUs back to you. (Or create a payment transaction that does some combination of these.) I don't believe either of these are supported in the client yet.

I see. So basically currently I would have to make transactions. I tried looking at an orderbook with the same currencies on both sides, but that didn't seem to be supported. It's good to hear this is just a limitation of the client.

[moocowpong1]

Is anybody else having trouble making transactions that change IOU issuer? Currently I have some WeExchange BTC that I'd like to turn into Bitstamp BTC. It seems that the simplest way to do this quickly is to deposit them at Bitstamp and then withdraw again. I try to make the transaction, and it seems to find a path, but the transaction fails with "Error: Path could not send full amount."

[grondilu]

Is anybody else having trouble making transactions that change IOU issuer? Currently I have some WeExchange BTC that I'd like to turn into Bitstamp BTC. It seems that the simplest way to do this quickly is to deposit them at Bitstamp and then withdraw again. I try to make the transaction, and it seems to find a path, but the transaction fails with "Error: Path could not send full amount."

An other way would be to use XRP as a proxy but right now I guess the spread in the order book is too large for you to make it without losing a lot of money.

I'm currently trying to fill the order book of bitstamp's BTC/XRP,  but I'm not used to these kind of stuff so I only do very small amounts.

[grondilu]

Last Price isn't working on the trade, anyone noticed it? I thought maybe no one was buying but I just brought some XRP's thru it and the Last Price still says N/A for me? Bug?

It takes a bit of time sometimes to update.

[moocowpong1]

Is anybody else having trouble making transactions that change IOU issuer? Currently I have some WeExchange BTC that I'd like to turn into Bitstamp BTC. It seems that the simplest way to do this quickly is to deposit them at Bitstamp and then withdraw again. I try to make the transaction, and it seems to find a path, but the transaction fails with "Error: Path could not send full amount."

An other way would be to use XRP as a proxy but right now I guess the spread in the order book is too large for you to make it without losing a lot of money.

That's how it ended up in WeExchange BTC... with a little "profit" along the way.

[matthewh3]

Why doesn't Ripple offer GBP/BTC pair its the third largest currency that BTC is traded in and if Ripple is targeting bitcoin users to get this project jump-started then it'd be a good thing to offer users.  Also can anyone answer this - https://bitcointalk.org/index.php?topic=38711.msg1564551#msg1564551 -

This might sound stupid but does anyone know how to withdraw GBP IOU's to Ripple from Bitstamp using BTC 

[molecular]

Why doesn't Ripple offer GBP/BTC pair its the third largest currency that BTC is traded in and if Ripple is targeting bitcoin users to get this project jump-started then it'd be a good thing to offer users.  Also can anyone answer this - https://bitcointalk.org/index.php?topic=38711.msg1564551#msg1564551 -

This might sound stupid but does anyone know how to withdraw GBP IOU's to Ripple from Bitstamp using BTC 

What do you mean by "using BTC"? Can't you just simply withdraw GBP from you bitstamp wallet to your ripple wallet?

[matthewh3]

Why doesn't Ripple offer GBP/BTC pair its the third largest currency that BTC is traded in and if Ripple is targeting bitcoin users to get this project jump-started then it'd be a good thing to offer users.  Also can anyone answer this - https://bitcointalk.org/index.php?topic=38711.msg1564551#msg1564551 -

This might sound stupid but does anyone know how to withdraw GBP IOU's to Ripple from Bitstamp using BTC 

What do you mean by "using BTC"? Can't you just simply withdraw GBP from you bitstamp wallet to your ripple wallet?

I'm new to Bitstamp the fact they are a (GBP offering) Ripple trusted Gateway brought me there.  Although it seems all funds not in BTC held at the exchange are held in USD.  I could find no way to sell BTC/GBP only USD/BTC.

[moocowpong1]

You can type any currency pair you want into the trade dropdown. Speaking of which, can anybody else see my BTC/BTC trade? The client makes it a puzzle to set up the trade correctly, but I don't see a reason it shouldn't work.

[Mogly]

Hi, add me up!

r9uVRhJEKsJVaxsU3c3rimzLWKYRmDUcX2

[matthewh3]

Just bought some GBP from BITSTAMP into Ripple who wants 1p of actual real credit?  Giving 21p away 

[Mogly]

Any philanthropists willing to send me 400 XRP? I promise to return 500 to him when my transfer to Bitstamp arrives. Thanks!:

r9uVRhJEKsJVaxsU3c3rimzLWKYRmDUcX2

[Peter Lambert]

Any philanthropists willing to send me 400 XRP? I promise to return 500 to him when my transfer to Bitstamp arrives. Thanks!:

r9uVRhJEKsJVaxsU3c3rimzLWKYRmDUcX2

I'll do it!

[Peter Lambert]

Just bought some GBP from BITSTAMP into Ripple who wants 1p of actual real credit?  Giving 21p away  

Heck, if you are just giving stuff away, I'll take it! As my good friend always says: "If it's for free, it's for me"

my address: rGsLivkDjTZHFQ8oV2h81uTcbTpgjEaEY7

I think you need to give your address so people can trust you to receive the giveaway?

Edit: I guess if you got the GBP onto ripple through bitstamp, then they are probably BitStamp GBP, so one would have to trust Bitstamp for GBP. Or would it work if somebody trusted either the two of you? If somebody trusted both, would it send the Bitstamp GBP because that is a positive account balance, or would it send the Matthewh3 GBP because that is a simpler trust relationship, or would it randomly pick one?

Edit Edit: Is there some sort of directory for Ripple yet? I just noticed the address r9YoMBhhQbEA8jsvHnWhAM8tdpN4xYrb8B on my trust list, but I am not sure who they are?

[Mogly]

Any philanthropists willing to send me 400 XRP? I promise to return 500 to him when my transfer to Bitstamp arrives. Thanks!:

r9uVRhJEKsJVaxsU3c3rimzLWKYRmDUcX2

I'll do it!

Thank you very much, give me 2 or 3 days

[JoelKatz]

I have a question, I did some trading and I turned 1 bitcoin into 1.5 bitcoin, now I want to take that 1.5bitcoin and put it into my bitstamp account. But when I go do that I get a message right before confirming it, that they will get 1.5bitcoin, and it also says "You can pay at most 1.515" why is that mean exactly? I don't want to be in debit to anyone right now?

There is no way to ensure the network is in precisely the same condition when it processes the transaction as it is in when you form the transaction. To prevent transactions from failing unnecessarily, the client generally applies an extra 1% "slush" to ensure the transaction goes through. This could result in a transaction leaving you in debt. I don't think there's currently any way to change this behavior. (You could always transfer 1% less, I suppose.)

[duckbillp]

I have a question, I did some trading and I turned 1 bitcoin into 1.5 bitcoin, now I want to take that 1.5bitcoin and put it into my bitstamp account. But when I go do that I get a message right before confirming it, that they will get 1.5bitcoin, and it also says "You can pay at most 1.515" why is that mean exactly? I don't want to be in debit to anyone right now?

There is no way to ensure the network is in precisely the same condition when it processes the transaction as it is in when you form the transaction. To prevent transactions from failing unnecessarily, the client generally applies an extra 1% "slush" to ensure the transaction goes through. This could result in a transaction leaving you in debt. I don't think there's currently any way to change this behavior. (You could always transfer 1% less, I suppose.)

Why is the transaction less likely to fail by transferring a little more than the user intends to transfer?

[JoelKatz]

Why is the transaction less likely to fail by transferring a little more than the user intends to transfer?

In the transaction, you specify the source and destination accounts, the destination amount and currency, and the source currency. If you specified the source amount, the transaction would fail if the network state was even slightly different from the state it was in when you formed the transaction. So instead, you specify a maximum amount you are willing to pay to deliver the destination amount. The network computes the minimum amount to make the payment with the paths specified. So long as it is equal to or less than the maximum source amount, the transaction goes through. The amount you pay is the actual amount needed.

So it's not that you transfer a little more, it's that you allow the transaction to transfer a little more should that be necessary.