[ANN] Ripple is officially open-source! w/link

[mah87]

Nice to see some steps in the right direction with Open Sourcing and with the name change.

However

Despite that though I still have an instinctive aversion to the concept of chains of trust and passing around debts. Bitcoins are something I get, it is sound money. Ripple is something that I just don't get the idea is confusing and even if the ripple devs have good intentions, I can't get past feeling that the idea can be used for nefarious aims.

https://ripplecharts.com/markets

There's been no progress since May...
You got Bitstamp and nothing else...
Even with the BIG BOOM of open sourcing only $38,000 USD/XRP traded.

Their big US Gateway SnapSwap is doing $2,315 of business/day.

If you bought XRP in May... you are STILL DOWN 50% at 9000/BTC...
There's no liquidity anyway to make any real money...
Plus 98,000,000,000 XRP waiting to be dumped on you, baby.
 
Compared to mcxNOW... Ripple is a Ghost Town = 100% hype...
Do people not realize that every single business associated with Ripple is IN THE RED.

I don't think Bitstamp is IN THE RED "baby" ....   you are really a dummy ... what did you expect ? ripple making 1millions dollars a day within 1Month ? idiot

[Come-from-Beyond]

Has anyone tried to launch rippled?

I got such a picture:



Not sure if it's scanning my computer for wallet.dat talking to the Ripple network or just running an infinite loop.

[mah87]

 scanning my computer for wallet.dat Lol hahah you discover the ripple conspiracy O_o ahha

[sublime5447]

Someone mind looking over these and providing a few answers?

https://bitcointalk.org/index.php?topic=303114.0

[UncleBobs]

So, one point to the builders and sharers, one poke in the eye to the haters!  

"What will be the most interesting about the open-sourced code may well be the consensus algorithm. If it works, consensus is arguably a major improvement over any of the “mining”-like algorithms that Bitcoin and other cryptocurrencies can offer; it both completely removes Bitcoin’s “wasted electricity” problem and makes it much more difficult to successfully execute an attack against the network. However, the main objection is, will it actually work? Up until now, the process has been well-documented on the Ripple wiki in text, diagrams and a video. However, the description has been high-level, and the documentation has not been in a formal form suitable for mathematical or cryptographic analysis. Now, we have access to the source code, which is literally as formal a description of the consensus process that one can get. For the first time, actual cryptographers outside of Ripple Labs will be able to create mathematical models out of the code, run simulations or prove theorems on it and see if it actually lives up to the hype."

http://bitcoinmagazine.com/7275/ripple-is-officially-open-source/

[Argwai96]

WOW, kind of surprising. i did not think that open coin would actually deliver on this. i wonder where it will go from here. hmmm....

[tokeweed]

Nice to see some steps in the right direction with Open Sourcing and with the name change.

However

Despite that though I still have an instinctive aversion to the concept of chains of trust and passing around debts. Bitcoins are something I get, it is sound money. Ripple is something that I just don't get the idea is confusing and even if the ripple devs have good intentions, I can't get past feeling that the idea can be used for nefarious aims.

https://ripplecharts.com/markets

There's been no progress since May...
You got Bitstamp and nothing else...
Even with the BIG BOOM of open sourcing only $38,000 USD/XRP traded.

Their big US Gateway SnapSwap is doing $2,315 of business/day.

If you bought XRP in May... you are STILL DOWN 50% at 9000/BTC...
There's no liquidity anyway to make any real money...
Plus 98,000,000,000 XRP waiting to be dumped on you, baby.
 
Compared to mcxNOW... Ripple is a Ghost Town = 100% hype...
Do people not realize that every single business associated with Ripple is IN THE RED.

yup. the low volume really bothers me too. right now, i am only willing to play around with a few hundred bucks in ripple with that volume.

[UncleBobs]

# Send in the clones, from the otiose to the oneiric...
# python RipCloneNameGen.py

a1 = ['b','bl','br','c','ch','cl','cr','d','dr','f','fl','fr','g','gh','gl']
a2 = ['gn','gr','h','j','k','kl','kr','l','m','n','p','ph','pl','pr','q']
a3 = ['r','rh','s','sh','sk','sl','sm','sn','sp','sq','st','sw']
a4 = ['t','th','tr','tw','v','w','wh','wr','x','y','z']
a = a1 + a2 + a3 + a4

b1 = ['a','ae','ai','ao','au','e','ea','ee','ei','eo','eu','i','ia','ie']
b2 = ['io','iu','o','oa','oe','oi','oo','ou','u','ua','ue','ui','uo']
b = b1 + b2

c = ['bb','ck','dd','ff','gg','pp','ss','st','tt','zz']

d = ['le']

n = 0
for i in a:
  for j in b:
    for k in c:
      n += 1
      print n, i + j + k + d[0]

[jyaken]

Has anyone tried to launch rippled?

I got such a picture:

Not sure if it's scanning my computer for wallet.dat talking to the Ripple network or just running an infinite loop.

I just compiled it without error on archlinux.
But i got

Code:

Unable to open/create leveldb: IO error: db/hyperldb/LOCK: No such file or directory

when i run rippled.

Is there any manual of database? i didnt find any on ripple's wiki.

[Sukrim]

Create a folder named "db" next to rippled... or enter a location that actually exists in your rippled.conf file.

[CryptoBeggar]

I'm considering buying some ripple, but  I would just like to know what happens when I'm buying from my Bitstamp account. Do I get my USD transfered to the ripple account or are they converted to Ripple instantly? How is the price of ripple established given there is a vast majority of undistributed "coins"?

Thanks!

[yvv]

I'm considering buying some ripple, but  I would just like to know what happens when I'm buying from my Bitstamp account. Do I get my USD transfered to the ripple account or are they converted to Ripple instantly? How is the price of ripple established given there is a vast majority of undistributed "coins"?

Thanks!

At bitstamp buy the minimum amount to fund your wallet, i.g. 50 XRP reserve plus 12.5 XRP for trust line. Then deposit them into you ripple wallet. Then deposit some USD into your ripple wallet thorough bitstamp or other gateway. Then you have several options to buy ripples from the wallet client. You choose which one suits your needs better.

[bitcoinBull]

I'm considering buying some ripple, but  I would just like to know what happens when I'm buying from my Bitstamp account. Do I get my USD transfered to the ripple account or are they converted to Ripple instantly? How is the price of ripple established given there is a vast majority of undistributed "coins"?

Thanks!

There are two ways to buy through bistamp. The first is on Buy/Sell -> Ripple, where you buy at the price bitstamp manually sets. Its more expensive than the market price, you should only buy the minimum ($2 or $3 USD) to fund the reserve for a new ripple wallet, if you don't already have XRP from a giveaway. With the reserve XRP met (~100 XRP), your ripple wallet can grant a trust line (either BTC or USD, each currency is a separate trust line). With a trust line to bitstamp's issuer address (rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B), you can withdraw on bitstamp.net Withdrawal -> Ripple. Choose the same currency of your trust line (BTC and USD have the most liquidity) and paste in your Ripple address (click "Receive" in your ripple wallet).

The market price for XRP is different on each order book. Each gateway (aka issuer) has separate order books on ripple, one per currency. Generally the best price will be for the gateway with the most liquidity, so usually on ripple USD.bitstamp and BTC.bitstamp order books (USD.snapswap is usually more expensive).

You can see a chart of the bitstamp order books on xrp.webr3.org, USD/XRP and BTC/XRP

[jebluk]

Any one cam give the list of XRP trade exchange or where to buy XRP by Okpay/Egopay/Perfectmoney? Thank before.

[Sukrim]

Most XRP are traded within Ripple I guess. I am not sure which gateways accept your payment processors, this is not the topic of this thread though.

[Anon136]

there may be a better place to ask this but sorry im not sure where it is. how do gateways deal with the legal ramifications of issuing securities. as i understand it this is how ripples decentralized exchange works. a person issues promises to meet a condition and those promises trade on a market until someone submits one of them to the issuer to be honoured. do i have this right? do you guys comply with sec? do you not think that you are obliged to? or do you think that you are but try to fly under the radar?

[ElectricMucus]

there may be a better place to ask this but sorry im not sure where it is. how do gateways deal with the legal ramifications of issuing securities. as i understand it this is how ripples decentralized exchange works. a person issues promises to meet a condition and those promises trade on a market until someone submits one of them to the issuer to be honoured. do i have this right? do you guys comply with sec? do you not think that you are obliged to? or do you think that you are but try to fly under the radar?

That's an interesting question. My guess is individuals aren't obliged to any compliance just like miners aren't, but most important gateways will be entities which should be. It's a little too soon to ask these questions, and if it takes as long for ripple to get noticed as for bitcoin it wouldn't be for another two years till ripple is where Bitcoin is now.  

The most straight forward answer would be if a gateway issues his own IOUs in one currency it must be compliant to the laws of the country issuing that currency.

[Anon136]

there may be a better place to ask this but sorry im not sure where it is. how do gateways deal with the legal ramifications of issuing securities. as i understand it this is how ripples decentralized exchange works. a person issues promises to meet a condition and those promises trade on a market until someone submits one of them to the issuer to be honoured. do i have this right? do you guys comply with sec? do you not think that you are obliged to? or do you think that you are but try to fly under the radar?

That's an interesting question. My guess is individuals aren't obliged to any compliance just like miners aren't, but most important gateways will be entities which should be. It's a little too soon to ask these questions, and if it takes as long for ripple to get noticed as for bitcoin it wouldn't be for another two years till ripple is where Bitcoin is now.  

The most straight forward answer would be if a gateway issues his own IOUs in one currency it must be compliant to the laws of the country issuing that currency.

thanks em that was a helpful reply. I'm tentatively unblocking you.

[broken_pixel]

I bet it is open source with closed source attributes, like OSX.

[mah87]

I bet it is open source with closed source attributes, like OSX.

You bet wrong