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Author Topic: Ripple - Bullets and Debt Based Currency  (Read 2341 times)
ericwt
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April 12, 2013, 06:01:23 PM
 #41

Thanks JoelKatz,

I was asking just as an example.

I said XRP to DYM's  because that is all I have in my Ripple account right now. Walking through the possess was helpful.

Hopefully in the next day or so my account will be loaded and ready to go.

I really appreciate you sharing your knowledge. Finally some of this is making sense. Grin

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April 12, 2013, 09:26:49 PM
 #42

You can also create a DYM pathway and then just make a payment to yourself of, say, some number of DYMs and click the 'XRP' payment button. That can take from combinations of exchanges and pathways to get a better deal, if there is one.


When you make a payment to yourself of DYMs (as an example) if there are no people selling DYMs on the market, will it automatically create a new IOU and create an obligation on the issuer of DYMs or does the issuer have to approve the transaction? 

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April 12, 2013, 11:19:08 PM
 #43

You can also create a DYM pathway and then just make a payment to yourself of, say, some number of DYMs and click the 'XRP' payment button. That can take from combinations of exchanges and pathways to get a better deal, if there is one.

When you make a payment to yourself of DYMs (as an example) if there are no people selling DYMs on the market, will it automatically create a new IOU and create an obligation on the issuer of DYMs or does the issuer have to approve the transaction?  
There's no way it could create any such obligation -- what exchange rate would it use? If an issuer wants to sell his IOUs on the market, he has to create an offer to do so at a particular exchange rate in exchange for something in particular. His can sell an unlimited quantity of his own IOUs if he wants, but he has to set the exchange rate.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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