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ripple / ripple-client

A UI for the Ripple payment network built using web technologies
ISC License
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Can't trust using xrp as denomination #77

Closed jtimon closed 11 years ago

jtimon commented 11 years ago

The option just doesn't appear on the select box.

jedmccaleb commented 11 years ago

yeah it kind of doesn't make sense. You should just send xrp if you want to do this.

jtimon commented 11 years ago

What if I want to pay 50000 xrp but I don't have them? How does it makes less sense than sending bitcoin denominated credit? What if I want to give my friend 5000 credit xrp in exchange of the 5000 cash xrp he gave me?

I disagree with this not making sense, but I will write a more general post on credit units on the forum. I would like to be able to send hours, ounces of silver, gold, Beertockens, 1970usd and Terras. Basically I want to have custom credit units . I still don't like putting the denominations explicitly in the ledger: is not necessary. The names of the units don't matter internally, only the exchange rates. But this is probably for the forum...

ahbritto commented 11 years ago

People should use another currency designation to proxy for XRP IOUs. Not allowing XRP as the designation is intentional to prevent confusion.

Ripple, as is, is not a "credit" or "loan" system. Ripple uses IOUs to track balances due.

jtimon commented 11 years ago

I've answered to what you've said on the forum: https://ripple.com/forum/viewtopic.php?f=1&t=4&p=33#p33

I've also created a separate thread on units of account: https://ripple.com/forum/viewtopic.php?f=1&t=7