Questions tagged [ripple]

Questions about Ripple are off topic. This tag should be used for questions regarding Ripple, an alternative cryptocurrency. Such questions can include how Ripple works and things that can be done with it. Ripple is also known by its ticker symbol, XRP.

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1answer
487 views

How big is the Ripple network?

The size of the Bitcoin network is available here: http://bitcoinstatus.rowit.co.uk/ As the page says, they do this by listening for Address messages that are broadcast over the network. Since the ...
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1answer
1k views

What is the exact consensus protocol Ripple uses?

Ripple supposedly incorporates transactions into the ledger using a consensus protocol. I have been looking everywhere for a clear, formal, and precise specification of the protocol and could not find ...
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1answer
505 views

When a trade offer in Ripple incurs transit fees, who pays them?

When two trade orders in Ripple are matched and they incur a transit fee for exchanging IOUs, which of the parties pays the transit fee? Is this transit fee already included in the order or is it ...
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1answer
143 views

When a Ripple-Gateway charges a fee for third parties exchanging their IOU, how is it determined who pays the fee?

When a Ripple-Gateway charges a transit fee for third parties exchanging their IOU, who pays the transit fee?
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1answer
185 views

What is the ECC key length for OpenCoin's implementation of Ripple?

http://www.reddit.com/r/Bitcoin/comments/1lubl1/wired_oped_worries_that_elliptic_curve/cc2vhos suggests that key lengths < 500 bits are no longer considered secure from the NSA. What key length is ...
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1answer
359 views

What could drive Ripple adoption? [closed]

Now, I have been reading a lot about Ripple lately and here is something that still eludes me: For example Bitcoin has a clear early adopter advantage, which incentivices investments and helps build ...
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1answer
241 views

Legal question regarding rippling balances between Ripple gateways

Let's say a ripple user were to extend trust to both Bitstamp and Snapswap to owe him 100 USD. He offers to trade USD-Bitstamp-IOU for USD-Snapswap-IOU at an exchange rate of 1:1. Would he have to ...
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1answer
340 views

Are ripple transactions reversible like how a CC chargeback works?

Does ripple take the properties of bitcoin where its irreversible?
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1answer
203 views

Does Ripple require users to input their ID and personal data?

Currently all the USD to crypto currency exchanges require personal identification before withdrawing to USD. Does Ripple require this? How about the Ripple Gateways that do the currency conversions?
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3answers
490 views

Is Ripple an anti central exchange that makes Bitpay and Mt.gox almost obsolete?

I just learned of Ripple and it still seems a bit fuzzy to grasp the concept, but from what I gathered so far its a decentralized exchange that basically has the potential to overtake Bitpay and Mt....
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2answers
232 views

I own too few ripples to buy ripples (have only 87xrp, want to buy 7,000)

I have 87 ripples. When I use the ripple client to purchase additional ripples, I'm unable to and get an error saying the network isn't available. I can only guess this is because I have too few ...
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1answer
445 views

why ripple currency exchange trading is slow sometimes?

Bids Sum BTC Size BTC Bid Price XRP 30.58995660 30.58995660 6,000.00000000 Asks Ask Price XRP Size BTC Bid Price XRP 6,000.00 29.07743420 29.07743420 while bids and asks match above, ...
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366 views

With Ripple, can I send IOU without setting a trust?

I have a simple question. User A wants to send to user B some IOU. There is no trust between A and B. There is no possible risk for user B. Can this be done without establishing a trust line? If no, ...
4
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1answer
326 views

Are Ripple IOUs e-Money under European law?

It has been confirmed by multiple sources that Bitcoin is not electronic money according to EU Directive 2009/110/EC, mainly because it does not represent "a claim on the issuer" and does not have a "...
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1answer
2k views

How exactly is Ripple decentralized when OpenCoin has so much XRP?

Let us assume in a best case scenario, the Ripple system gets opensourced this year and the 50 billion XRP are distributed fairly to many people in the world. One of the reasons of having XRP ...
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2answers
1k views

How do you build a Ripple gateway without rippled?

I've noticed that several Ripple gateways now exist, most notably Bitstamp. However, the only documentation I can find on how to create an automated gateway seems to imply that you must have OpenCoin'...
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1answer
675 views

How can we be sure that Open Coin would not create more than 100 billion XRP?

ripple server code is still private and beta. There is no legality preventing Open Coin to print more XRP now as it is a private company and the network is not at a stage where it is wide scale ...
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1answer
1k views

Ripple wallet name?

If I'm reading the website right, it's saying that both Wallet passphrase and name should be kept private. I now have a conundrum of which name to choose. Should I put my default username (public, ...
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1answer
536 views

Error selling BTC on Ripple.com

I have 2 BTC in my Bitstamp wallet. I have over 10,000 XRP (no issue with reserve) I have trusted Bitstamp up to $300 in my Ripple client. I've tried to enter an order selling 1 BTC for 8400 XRP. ...
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7answers
9k views

Is Ripple a scam? [closed]

Is Ripple a scam, as claimed by a website and forum thread?
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3answers
3k views

I traded XRP for BTC. How do I withdraw my bitcoins from ripple.com?

I traded XRP for BTC. How do I withdraw my bitcoins from ripple.com? I guess I need to withdraw to bitstamp.net somehow?
5
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2answers
437 views

Will ripple automagically use the ordebook when finding a path?

I have a question regarding this scenario. A (test-gateway) 28000 XRP in balance B (user1) trust line with A for 1000 USD 400 XRP in balance C (user2) trust line with bitstamp for 100 BTC 400 ...
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5answers
654 views

When does OpenCoin Inc intend to make the Ripple server code public?

Is there a definite timeline or not? Thank you.
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2answers
1k views

Can Ripple XRP be a good store of value with >50% ownership known?

The fact that the vast majority of XRP ownership is known represents from my point of view the main threat to the value of the currency and the project itself. Do Ripple founders and OpenCoin have ...
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1answer
2k views

What happens when I buy BTC with XRP from the Ripple client?

I don't see anywhere in the ripple client that shows my bitcoin address, and I can't recall if I entered it. When I make an offer to buy X BTC for Y XRP, where does the BTC go when accepted?
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1answer
490 views

Law / country specifics to start Ripple Gateway

There is requirement in https://ripple.com/wiki/Gateway_Integration_Manual Gateways should comply with the BSA, have AML policies and require KYC information. As i understand this requirements can be ...
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1answer
668 views

Does it make sense to hoard on ripples like bitcoins? [closed]

Total number of bitcoins that will ever exist are 21 million and are deflated. Ripples are pre-mined 100 billion. Would hoarding 30000 XRP now will get me a profit in the future from a speculation ...
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2answers
185 views

(Ripple + wire transfer) x Banking (loans) multiplicator = 2x debt crisis?

if Ripple users would use % loans uncontrolled way? For example: system (gateway) have 100 bitcoins, the quantity is limited, bitcoin holders have issued 100 loans for 1 bitcoin each with 10% rate (...
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2answers
5k views

Ripple XRP in circulation [duplicate]

From the 100 billion of total XRP, 20 billion went to the founders and 30 billion to OpenCoin to fund development. The 50 billion remaining are supposed to be given away to promote Ripple. Is there ...
4
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1answer
592 views

Do you need XRP reserves to receive trust lines?

As far as I understand, you need to keep some XRP in reserve for each trust line and for each open offer. Does that apply only for outgoing trust, or for incoming trust too? In the latter case, what ...
3
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1answer
214 views

Using Ripple for assets accounting, loans, deposits, stock exchange, etc

If Ripple can handle money as exchanger, is it possible to use it for other financial operations like assets accounting, loans, deposits, stock exchange etc.?
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2answers
17k views

How to restore a ripple wallet, having the security key?

If I try to login to ripple.com I get this message Fetching wallet... Payward Wallet not found (Username / Password is wrong) Local browser Wallet not found (Username / Password is wrong) It might ...
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1answer
4k views

How to create a ripple gateway?

I want to know what to do if I want to create a ripple gateway, so that people can use it and exchange on it. Where do I start?
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3answers
2k views

What is the total value of XRPs or the market cap of Ripple? [closed]

On bitstamp today, $1 = 225XRP. That makes 100 billion XRPs worth $450 million. Ripple's a payment system that can't be used to buy anything yet and it's transaction credits are worth half a billion. ...
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2answers
2k views

How to withdraw all funds from a Ripple account?

I'm trying to close my account by withdrawing all my XRP into a new account. But the Ripple client insists on keeping a minimum balance of 50 XRP. How can I properly close this account?
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1answer
588 views

How does Ripple decide on the exchange rate between different currencies?

When A pays in USD but B receives EUR, how exactly does Ripple decide on the EUR/USD exchange rate?
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1answer
481 views

Is it possible to execute a double-spending attack in Ripple during a network split?

From the spec (emphasis added): Under a net split, a ledger may be closed by the minority of network, this ledger may be discarded in the future. Does this mean it would be possible to spend twice,...
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1answer
121 views

In Ripple, what is “Total XRP” in the ledger header?

In the spec for the ledger format there's a field called "Total XRP" in the header. Is this the total number of XRPs in circulation? Does this value get decremented with each transaction? Can this ...
2
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1answer
93 views

With Ripple, what is lsfDisallowXRP?

In the spec for the ledger format, there's a flag called "lsfDisallowXRP" in the account root entry. It says: "Indicates that this account does not want to receive XRP." But why wouldn't an account ...
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1answer
85 views

With Ripple, what is “Close Resolution?”

In the spec for the ledger format, there's something called "Close Resolution" in the header. It is described as "the resolution (in seconds) of the close time." What does it mean, and what is its ...
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1answer
185 views

Are transit fees supposed to be common in Ripple?

In addition to transaction fees, Ripple also has transit fees when exchanging IOUs. Is it supposed to be common to pay transit fees, or is it for rare cases only? How much would the transit fees ...
2
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1answer
426 views

With Ripple, is it possible to have XRP IOUs?

Just as there are USD IOUs, EUR IOUs, BTC IOUs, and so on, is it possible to have XRP IOUs in the system? If yes, could XRP IOUs be used as transaction fees?
4
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1answer
302 views

How are Ripple transaction fees “destroyed?”

What is the exact process by which the transaction fees are "destroyed?" Are they sent to a special account, or simply erased from the ledger?
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1answer
353 views

How to create more ripples?

What is the exact procedure for creating more Ripple currency units (XRP) in excess of the default 100 billion that already exist?
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1answer
356 views

With Ripple, how is base fee (transaction fee) calculated?

The Ripple wiki says (emphasis added): If the reference transaction should cost 10 millionths of a ripple, the "base fee" should be set to 10. This is the current value. This makes it very simple ...
3
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1answer
201 views

What are the special Ripple accounts ACCOUNT_ZERO, ACCOUNT_ONE, and root account?

What are the special accounts ACCOUNT_ZERO, ACCOUNT_ONE, and root account? It's not clear from the Ripple wiki what they are meant for. A little explanation would be nice. What makes these accounts "...
6
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1answer
649 views

Why does Ripple's consensus process have a 80% threshold?

A transaction is confirmed if 80% of the nodes in the UNL accept it. Where does this 80% number come from? Could it just as well have been 79% or 81%? What about 51%? Can different nodes have ...
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1answer
4k views

How to buy a million ripples?

If someone wanted to buy up lots of ripples, say a million, how would they go about doing it? Currently the exchanges don't seem to give good rates, and trading one-to-one with someone else would be ...
6
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2answers
657 views

How is a Ripple gateway different than a conventional bank?

Everything I've read so far suggests that a Ripple "gateway" is just like a bank. How is it different than a conventional bank? Is it possible to have a bank of banks (central bank) in Ripple?
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2answers
5k views

What is the relationship between the Ripple secret key and the wallet name/passphrase?

The Ripple client has both a wallet name/passphrase and a secret key, and to the newbie it's not clear why there are two secrets. The client advises the user to write down the secret key and keep it ...