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Bitcoin on the XRP Ledger


Woodseal
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7 hours ago, Woodseal said:


Just watched crypto Eris you tube vid about Spendthebits a new Wallet that will use the XRP Leger to send Bitcoin instantly at low cost.

https://spendthebits.com/

Can Anyone tell me How this works and if this is advantageous to XRP.
IE is XRP used to facilitate The transaction. 
 

Thanks

 

I would almost guarantee this is achieved using the native IOU functionality in conjunction with the DEX. The ability to send any asset instantly via the XRP ledger has always been one of its biggest advantages. 

Edited by retryW
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  • 2 months later...

I think that if and when it takes of it will be a huge hit. It's that sort of knowledge that might allow you to earn more in the long run. I think that integration of cryptocurrency in every day life is a good thing.
I myself have been trading in cryptocurrency not that long. I used to trade with the stock market and I got the hang of it fairly quickly but with cryptocurrency it took some time for me to actually understand how to trade in it probably. What really helped me out was the fact that I got my hands on some really good crypto signals. I know that a lot of people have very little idea what a crypto signal is or how it can be useful but I have to say that it really is sort of like a holy grail.
 In short cypto signals are suggestions for you to buy or sell certain shares. It took me a while to find a decent place to buy my signals from but I did manage to find what is arguably a place that sells the best crypto signals with the most accurate information out there.
 I think that if you are only starting trading with cryptocurrency it is important to invest in good signals, at least until you get the hang of it. 

Edited by CholeBur
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  • 5 months later...
On 10/25/2020 at 8:39 PM, Woodseal said:


Just watched crypto Eris you tube vid about Spendthebits a new Wallet that will use the XRP Leger to send Bitcoin instantly at low cost.

https://spendthebits.com/

Can Anyone tell me How this works and if this is advantageous to XRP.
IE is XRP used to facilitate The transaction. 
 

Thanks

 

Funny, I just found out about it listening to John Deaton.

 

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A lot of Maxi's have their heads so far up their you know what they can't even see that they can mitigate some of the transactional cost of using bitcoin right now by sending it over the XRPLedger.  If they were serious about use case they would be all over something like this.  I mean if you were serious about the use case of Bitcoin and you know the environmental and transaction cost dilemma being faced right now and you also know there is an option to at least mitigate some of the transactional cost why are you not pursuing this??? Kind of makes BTC look like a real pump and dump when you have the means to make it better but you choose to ignore or ridicule 

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Bitcoin has been on the XRPL since almost the very beginning. Back in the day there was an automatic Bitcoin bridge called BTC2Ripple. I think it got shut down with the FinCEN stuff, or maybe it was as Ripple was switching business strategies. That was all around the same time.

Anyway, as has always been the problem, no one really wants to use the XRPL for Bitcoin.

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It is BTC over XRPL. I have spoken to them, have another meeting next Wednesday. 

What is meant by a "Bridge"? How is that technically architected? What is done on each ledger? 

Edited by KarmaCoverage
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3 hours ago, KarmaCoverage said:

It is BTC over XRPL. I have spoken to them, have another meeting next Wednesday. 

What is meant by a "Bridge"? How is that technically architected? What is done on each ledger? 

I wasn't able to find their IOUs on the ledger. Maybe I just wasn't searching right or maybe they're running their own private ledger.

Edited by brianwalden
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1 hour ago, brianwalden said:

I wasn't able to find their IOUs on the ledger. Maybe I just wasn't searching right or maybe they're running their own private ledger.

I dont know their XRPL wallet address, do you?

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21 hours ago, KarmaCoverage said:

Not really it'd be best to know the wallet address. I could issue STB and have nothing to do with them.

Of course, if I had found one I would have been looking for how many trustlines it had. They don't publish their issuing address, so I tried just using the token code.

Edited by brianwalden
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On 10/26/2020 at 5:38 PM, TaylorWarden said:

If anyone from spendthebits team ends up reading this thread, please consider implementing a Bitcoin bridge.

Can you remind me how the bridge worked? I remember that, but thought it was either through BitStamp or like the old faucets?

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