GateHub Fifth Launches Bitcoin

[GateHub]

We are happy to announce that GateHub Fifth users can now easily Deposit, Send and Trade BTC with their GateHub Wallet.

You can read more about it here: http://blog.gatehub.net/post/153345402197/btc-deposits-and-withdrawals-launched

[Duke67]

Congratulations!

These BTC features are probably based on IOUs, will BTC operations be Ripple-fast?

[GateHub]

2 minutes ago, Duke67 said:

Congratulations!

These BTC features are probably based on IOUs, will BTC operations be Ripple-fast?

BTC deposits (from bitcoin network to ripple) takes approx. 30 minutes (3 confirmations) while withdrawals (from ripple to bitcoin network) should be instant ("Ripple-fast").

 

[Duke67]

Just now, gatehub said:

BTC deposits (from bitcoin network to ripple) takes approx. 30 minutes (3 confirmations) while withdrawals (from ripple to bitcoin network) should be instant ("Ripple-fast").

That's very COOL!

Just don't forget to announce it properly to bitcoiners worldwide. They will love it! 

[cmbartley]

I'm testing this out now, but I don't understand how the withdrawal can be "instant" if the the BTC withdrawal is processed on the bitcoin network. Seems that the withdrawal would depend on the recipient's confirmation requirements. Or do you mean withdrawal to fiat?

[Guest]

36 minutes ago, cmbartley said:

I'm testing this out now, but I don't understand how the withdrawal can be "instant" if the the BTC withdrawal is processed on the bitcoin network. Seems that the withdrawal would depend on the recipient's confirmation requirements. Or do you mean withdrawal to fiat?

We will submit the withdrawal transaction instantly, however the transaction will depend on the recipient's confirmation requirements before being credited.

[cmbartley]

13 minutes ago, gregor said:

We will submit the withdrawal transaction instantly, however the transaction will depend on the recipient's confirmation requirements before being credited.

Cool. One of the reasons I'm looking forward to ILP. You could actually transfer BTC "instantly" through XRP...

[thinlyspread]