Ripples...How Do I buy them?

[redbos]

hello everyone,

i've been trying to figure out how to buy or exchange ripples, and i'm pretty sure there is not an exchange at the moment. am i wrong in this? any ideas on how to convert BTC to XRP in an efficient manner?

thanks!
mike

[Bandini]

What are ripple?

[Stark-Fujikawa]

What are ripple?

Opencoin.com has more info.

[adamthefishman]

I dont think there are ripples for sale. I think each user just selects the currencies they will transact in, and those units get transfered, ie USD and BTC.

[Matthias195]

they are given away i think by those who already own them

[LaggedOnUser]

Some users in these forums are offering to buy and sell Ripple coins for Bitcoins (https://bitcointalk.org/index.php?topic=148114.0).

[mobydick]

Open a Bitmit account, transfer some BTC over, then buy ripples.

Pretty cool system which uses escrow to hold funds, makes it fair for everyone.

[Bailbonds]

 

[enigma1265]

so no way to directly buy them yet?

[redbos]

there doesnt seem to be a MtGox-type exchange to convert USD to Ripples yet. but it seems easy enough to convert BTC into XRP through bitstamp.

i imagine that there will be an exchange here shortly, or i guess in the Ripple world we would call this a "Gateway".

[pheaonix]

plenty of people are selling their stacks of 29,800 ripple. i sold mine off for some btc. was a pretty smooth transaction.

[mmeijeri]

there doesnt seem to be a MtGox-type exchange to convert USD to Ripples yet. but it seems easy enough to convert BTC into XRP through bitstamp.

i imagine that there will be an exchange here shortly, or i guess in the Ripple world we would call this a "Gateway".

Ripple is its own exchange. Once you are in, you can use it to buy more XRP.

[TheSwede75]

Not sure about ripple so far. Lots of hype in a lot of 'Coin' startups such as opencoin, Ripple etc. However, since it's tied to BTC I don't see any 'early adopter' advantage really.

[prophetx]

you can buy them at ripple.com but you need an account that can trade which i think requires you to have 300 XRP (which you can send back to the person that sends them to you)

[ripplesandbits]

you buy them while they are unheard of from the masses

[dancupid]

Ripple has a built in exchange for many currencies.
The bitstamp.com exchange is also functioning as a gateway to ripple.

Transfer some bitcoins (or dollars) to your bitstamp account.
Withdraw your bitcoins from bitstamp to your Ripple address.
Click the advanced tab in ripple and click trade.
Choose btc/xrp  (or usd/xrp) from the drop down.
Click 'sell btc'
Place an order.

You'll then have the ripples you bought in your ripple account. I think you need 300xrp to start though.

edit - at some point you need to add bitstamp's ripple address, I forget at which step - it's obvious when you go through the process.

[WildElf]

So it would seem from what I am reading that Ripples are going to be more stable than Bitcoin...anyone think there is going to be a mass selloff/trade of Bitcoin for Ripples?

[goodney]

Ripples seem like they're going to be a proxy currency for escrowing and transferring other currencies.

[umeboshi]

Recent article in Economist about Bitcoin gives some background about Ripple: http://www.economist.com/news/finance-and-economics/21576149-even-if-it-crashes-bitcoin-may-make-dent-financial-world-mining-digital

[Kartaiv]

IMO Ripple is inherently flawed with it's instant creation and centralization of money supply. Proxying transactions doesn't add much, if any, benefit to today's marketplace -- we already have services to exchange with (albeit with high fees).