fleclerc Posted January 6, 2018 Share Posted January 6, 2018 (edited) I am doing some experiments with IOU between Bitstamp and Gatehub and I struggle to understand how thing works. There must be something missing in my understanding of IOU and I would appreciate if someone could help demystify. In Bitstamp I proceed with an IOU USD Transfer to my gatehub account (I configure the trust line previously). Once the transfer is done, my gatehub wallet shows the 50$ associated with Bitstamp gateway and my Gatehub USD balance is 0. If I try to use the Trade tab on gatehub to trade my USD for XRP (for example), I see that I can only use my gatehub USD balance and not the bitstamp one. I struggle at this point to understand why the balance is still linked with the originating gateway (and why a bitstamp USD is not fongible with gatehub one). Anyway, I find that using the 'exchange' tab in gatehub allows me to exchange bitstamp USD to gatehub USD, but the exchange rate is 1.08 bitstamp USD for 1 gatehub USD. A now I get really puzzled. I like the idea of being able to move around USD in split seconds through ripple, but not if there's 8% fees on the way. Is that something specific to gatehub? I would appreciate if someone could shed some lights on how IOU works. thanks Edited January 6, 2018 by fleclerc Link to comment Share on other sites More sharing options...
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