Hello, I am very new here and actually quite new to the whole crypto arena.
However, I am very active within the Ripple community. I have heard that there is a big bias against ripple in the bitcoin world, but I hope you will keep an open mind and finish reading my post
Ripple is currency agnostic, so that means that its distributed ledger can be used for any currency, including DTC.
I think it is important to leverage what infrastructure already exists. People are clamoring for more ways to trade DTC and ripple can do that, literally overnight.
I am not sure if you know about how the ripple system works, but there needs to be an issuer of an IOU and the IOU is what trades. What this means is that the issuer has to be trusted by the people who are trading to redeem it when requested. I am a newbie here and I don't expect anybody to trust me. However, if there was somebody in the datacoin community that everyone trusted who would issue the DTC within ripple, I can make a market in it.
Once there is a market, then anybody with a ripple account (currently 50,000+) could easily purchase DTC. All that is required to get this jumpstarted is for a person(s) trusted by the community to:
1) open a ripple account
2) send me DTC, this is how a ripple balance (IOU) is created
3) Publicly commit to redeeming the ripple DTC
I am very active with Ripple and I have written automated market maker 'bots to make markets in various issues. I would be very happy to add support for DTC and it seems that offering the DTC community an alternate means of trading would only help. I haven't automated the redemption part yet, and I volunteer to do it manually at first. If the work gets too much, I will automate it.
The orderbook would be denominated in DTC/XRP as that is the simplest way to offer immediate conversion of DTC to everything else. You will be able to send someone BTC or USD or CNY, etc. by automatically having the DTC converted to the destination currency.
None of this requires any long term buy in to ripple. The denomination of DTC in terms of XRP can be changed to BTC if everybody is against XRP, but then the automatic conversion feature would require a hop through BTC orderbook and add to the price.
If there is any interest in this, I would be happy to do what I can to assist and also explain any questions about ripple in general. I wouldn't be making any money directly from doing all this other than the spread between bid and ask, which I intend to make very small, 1% is my typical spread. Also no commissions or other fees. Everyone is encouraged to create their own ripple accounts and trade directly with each other using ripple's distributed ledger. The more active the trading, the smaller the spread and without any commissions, it could rapidly become the best place to buy and sell DTC.
I am a relatively large holder of DTC, I am actively mining it and bter is not exactly large volume. It concerns me that in spite of datacoin's uniqueness, it has not really caught on yet and is sinking in the coinmarketcap.com list, #31 last I checked. I am also a believer in what ripple is doing. The more altcoins I can bring into ripple, the more the ripple ecosystem improves, the better it is for me, since I also have significant XRP holdings. You can read more about me at altGateway.com
James
P.S. If anybody is interested in helping, especially with the redemption side of things I would be very glad for this. I don't really want to be handling other people's DTC, so ideally a community trusted person could have control over the acct that contains the collateral for the ripple balances.
