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New Ripple client/wallet: The World Exchange


pftq

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using the world exchange

if I sell XRP to USD on the Bitstamp market, then I will have a USD IOU that I can ONLY send to Bitstamp to cashout

same goes for if I change the market to XRP/USD Gatehub, then I can only send to Gatehub to cashout

Would this be correct?  Nope

I can send either my bitstamp or gatehub IOU to bitstamp, but I can only send my gatehub IOU to gatehub

I don't get it :scratch_one-s_head:

but what I am trying to do is trade using the USD IOU from Bitstamp on the XRP/USD Gatehub market   and I can't use those funds:angry:

Edited by pucksterpete
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You can only redeem from the gateway that issued the USD.

However, you can use worldexchange to convert between the two.  See:

https://www.theworldexchange.net/?symbol1=USD.rhub8VRN55s94qWKDv6jmDy1pUykJzF3wq&symbol2=USD.rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B

Ripple's autobridge basically makes everything tradable even if no one explicitly puts out a USDxUSD order.

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1) Do new Known Issuers get added automatically to the "Backed by ....." field or can they only be added manually to the existing list? Liquid exchanges (for USD) are currently limited to Bitstamp and Gatehub, the others being pretty much unusable. I don't know of any other liquid exchanges, but am wondering whether they'll pop up automatically as and when they become available?

2) Is there any way for the user to delete issuers from the Known Issuers list, because as above, most on the current list are useless.

Edited by bones
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In light of Gatehub's recent hack, I'm considering whether to rename The World Exchange so that it's more clear that this really has no back-end and doesn't store your keys, not even encrypted.  I already replaced the tagline and footer to make it clear that this "exchange" operates directly on Ripple's blockchain with no intermediary server.  I actually have the domain https://www.rippleclient.com/ but that might lead to confusion with the older min ripple client.  If there are other ideas, let me know.  I think when I built this, it was during a time that was still vague for how best to describe blockchain to the public, but things have changed obviously. 

I've also suggested to a few people at Ripple Labs to perhaps change the RippleTrade page to link to wallet tools like this and Bithomp instead of Gatehub, but had no luck there.  IMO tools like this are much closer in spirit to the original RippleTrade which also didn't store or process any of your information (they processed your activities directly to the Ripple network and didn't store your keys, encrypted or not, anywhere).

It bothers me that there's no real clarity to users what tools are actually "wallets" and what are actually centralized servers storing your keys.  If you search "XRP Wallet" on Google, one of the first things that come up is Gatehub, instead of something like Bithomp, Toast Wallet, or the tool here.

Edited by pftq
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1 hour ago, pftq said:

In light of Gatehub's recent hack, I'm considering whether to rename The World Exchange so that it's more clear that this really has no back-end and doesn't store your keys, not even encrypted.  I already replaced the tagline and footer to make it clear that this "exchange" operates directly on Ripple's blockchain with no intermediary server.  I actually have the domain https://www.rippleclient.com/ but that might lead to confusion with the older min ripple client.  If there are other ideas, let me know.  I think when I built this, it was during a time that was still vague for how best to describe blockchain to the public, but things have changed obviously. 

I've also suggested to a few people at Ripple Labs to perhaps change the RippleTrade page to link to wallet tools like this and Bithomp instead of Gatehub, but had no luck there.  IMO tools like this are much closer in spirit to the original RippleTrade which also didn't store or process any of your information (they processed your activities directly to the Ripple network and didn't store your keys, encrypted or not, anywhere).

It bothers me that there's no real clarity to users what tools are actually "wallets" and what are actually centralized servers storing your keys.  If you search "XRP Wallet" on Google, one of the first things that come up is Gatehub, instead of something like Bithomp, Toast Wallet, or the tool here.

Yeh I'd only be using XRP in the domain, not Ripple.

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