Ripple, Digital Currency, Surpasses Bitcoin Market Cap(thebitcointrader.com) |
Ripple, Digital Currency, Surpasses Bitcoin Market Cap(thebitcointrader.com) |
Can anyone explain how you are supposed to use this?
(edit: started reading this https://ripple.com/working-with-ripple/)
From what I'm reading, the prices are incredibly misleading. People are buying ripples at the high price quoted in the article, but outstanding bid orders are generally 10x lower.
I get that it's a barter/IOU system, but I don't know how you justify that people can start with any amount of ripples they want just because they were there first. Where are they traded? How can I get rid of mine? Am I looking at it backwards?
Going to try what was suggested, but it looks like 'surely OP will deliver' to me.
But now I have $2USD in my Ripple account, and it's just like the imaginary numbers in my bank ledger, without any insurance or other representation. And no obvious way to get it out. [Edit: I figured it out.]
I have about 2000XRP and I believe you that the value will go up, but I just traded some for $2USD and I don't see any way to get it out. I don't want to ask anyone to get out of bed for 2000XRP. But maybe in 6 months.
Ripples are only traded at ripple. There is just the one exchange, but folks who buy ripples can potentially do it other places.
I am waiting for my $2USD to clear to bitstamp. That was quick. (Bitstamp acknowledged the $2 deposit.)
The $2.00 came to BitStamp without any loss/fee during Tx. But to buy ripple now, at BitStamp, $2.00 will only get me 100XRP, and that seems to be a precisely fixed price.