How to find the ONLY active Ripple BTC/XRP market

[alexkravets]

1. Log into your https://ripple.com/ account.

2. Advanced -> Trade -> BTC/XRP change issuer key to rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B (you should see "BTC bitstamp.net")

3. Click on Order Book (note the UI is messed up a bit at the moment and Ask Table is pushed below the Bid Table)

4. Don't bother looking for BTC/USD or any other order books by any other BTC or USD issuer ... this is as good as it gets for now.

Cheers ...

[jking]

This is not entirely correct, the most active (over-the-counter) market is right here on Bitcointalk forum. And I am the most active dealer of this market, with more than million XRP going through my hands just last week. 

If someone wants to trade for IOUs inside Ripple, there are currently 4 active markets:

BTC/XRP bitstamp (most liquid)
BTC/XRP weex (bigger spreads, but better deals sometimes)
USD/XRP bitstamp
USD/BTC bitstamp

Trades happened in all these markets, and USD/BTC bitstamp is following MtGox price movements to a reasonable extent, even though spreads are not that good.

All in all, Ripple gateway order books have good potential to develop into full-blown currency exchanges over time. They are just not there yet, the volume is minuscule and you're better off trading OTC here on Bitcointalk at the moment.

How do we know that trades have happened in all these markets? I haven't been able to find a list of trades consummated.

[jking]

How do we know that trades have happened in all these markets? I haven't been able to find a list of trades consummated.

Order book changes and trades are translated to #ripple-market irc channel.

Thanks.

How do I interpret the messeges? For instance, what does the following mean:

ripplebot> CAP BTC=299.2456046343227: bitstamp=194.5913594790761 weex=104.6542451552466

[jl2012]

1. Log into your https://ripple.com/ account.

2. Advanced -> Trade -> BTC/XRP change issuer key to rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B (you should see "BTC bitstamp.net")

3. Click on Order Book (note the UI is messed up a bit at the moment and Ask Table is pushed below the Bid Table)

4. Don't bother looking for BTC/USD or any other order books by any other BTC or USD issuer ... this is as good as it gets for now.

Cheers ...

I see nothing on the orderbook. Is it down?

[alexkravets]

Takes up to 10 seconds to load

[Groc]

Very helpful - Thanks.
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[JoelKatz]

To go from XRP to BTC, you can also set up a trust line (say for Bitstamp/BTC) and then try to pay *yourself* BTC. This will let the pathfinding algorithm find a combination of exchanges and pathways. Unfortunately, this won't to pay yourself XRP yet. The client won't use pathfinding for transactions that deliver XRP.

[dchapes]

To go from XRP to BTC, you can also set up a trust line (say for Bitstamp/BTC) and then try to pay *yourself* BTC.

Cool! 
Trying to send to your own address used to just spin and never find a path, great that this is fixed as it can be very useful. Note that it works for any currency (other than XRP) that you trust someone for.
You can't seem to use it to transfer a currency from one issuer to another however, you still need trades or a second account to do that I guess.

[stdset]

I have a wallet in ripple, an account on Bitstamp. I see this orderbook. How to buy some XRP, given that I don't have any XRP?

[alexkravets]

In your bitstamp account withdraw -> ripple
Specify BTCs or USDs to withdraw, then you can use them inside ripple to buy XRPs

[Mitzplik]

There are no asks, just underpriced bids in the orderbook.