Is possible to create New Currency Unit?

Topics in Spanish and/or topics about Ripple in Spanish speaking regions.

Is possible to create New Currency Unit?

Postby sebicas » Sat Mar 23, 2013 5:32 pm

Hi, I am interested in using Ripple with my family & friends my home country ( Argentina ) but as far I can I see on Ripple.com for now is only accepting Argentinean Pesos, is there any way to create them?
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Re: Is possible to create New Currency Unit?

Postby dchapes » Sat Mar 23, 2013 6:55 pm

sebicas wrote:Hi, I am interested in using Ripple with my family & friends my home country ( Argentina ) but as far I can I see on Ripple.com for now is only accepting Argentinean Pesos, is there any way to create them?
You can extend trust to anyone using any three character code you'd like, just type over the existing code instead of using the drop down menu.

Looking at a the ripple-client source, the only Argentina code (ones starting with "AR") it has for the drop down is ARS.

Although the client lets you use any three characters you'd like, they're supposed to be ISO currency codes. Wikipedia has a page with ISO codes for Argentina. If you can't find an appropriate code there, then it's a good idea to make any code you invent start with "X" to be ISO compatible (e.g. XAP, XAR, or some such). Also check the wikipedia page to not use one of the existing X ISO codes like XAF, XAG, or XAU.

The only issues with a custom code is if someone trusts two different people with the same code for different things. When you trust two people for the same code Ripple assumes it can exchange their IOUs through you at 1:1. Different groups of people can use the same code for different things as long as no one extends trust between the groups with that code (if they do they'll get a nasty surprise as all their XAU gold once IOUs get exchanged 1:1 for XAU air-mile-units IOUs :shock: ).
OpenPGP KeyID: france short hawaii
Although I moderate and post a lot on the Ripple forum, I am not associated with RippleLabs; I'm just a Ripple user. I speak only for myself.
I am somewhat associated with RippleFederation and a minor financial supporter of RippleUnion.
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Re: Is possible to create New Currency Unit?

Postby guardapolvo » Sun Mar 24, 2013 3:41 pm

dchapes wrote:
sebicas wrote:Hi, I am interested in using Ripple with my family & friends my home country ( Argentina ) but as far I can I see on Ripple.com for now is only accepting Argentinean Pesos, is there any way to create them?
You can extend trust to anyone using any three character code you'd like, just type over the existing code instead of using the drop down menu.

Looking at a the ripple-client source, the only Argentina code (ones starting with "AR") it has for the drop down is ARS.

Although the client lets you use any three characters you'd like, they're supposed to be ISO currency codes. Wikipedia has a page with ISO codes for Argentina. If you can't find an appropriate code there, then it's a good idea to make any code you invent start with "X" to be ISO compatible (e.g. XAP, XAR, or some such). Also check the wikipedia page to not use one of the existing X ISO codes like XAF, XAG, or XAU.

The only issues with a custom code is if someone trusts two different people with the same code for different things. When you trust two people for the same code Ripple assumes it can exchange their IOUs through you at 1:1. Different groups of people can use the same code for different things as long as no one extends trust between the groups with that code (if they do they'll get a nasty surprise as all their XAU gold once IOUs get exchanged 1:1 for XAU air-mile-units IOUs :shock: ).



Ok...I would try not to use anything strange then.

sebicas, yo te ayudo, esta es mi dirección Ripple: r9JJ28tGZ9p83Ngqu4tWTCWYUSxU6FeRQC
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Re: Is possible to create New Currency Unit?

Postby bitcoin5411 » Mon Mar 25, 2013 11:44 pm

sebicas wrote:Hi, I am interested in using Ripple with my family & friends my home country ( Argentina ) but as far I can I see on Ripple.com for now is only accepting Argentinean Pesos, is there any way to create them?


+1

Here's another vote for adding "ARS - Argentine Peso" to the official currency list of the web client. There's quite a few of us trying Ripple out here in Argentina and it'd be nice to have our currency represented in the web client.
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Re: Is possible to create New Currency Unit?

Postby dchapes » Tue Mar 26, 2013 12:19 am

bitcoin5411 wrote:Here's another vote for adding "ARS - Argentine Peso" to the official currency list of the web client
Just type it into the text entry field instead of using the drop menu. On the trading interface whatever combinations you use percolate to the top of the list over time. There is no point making the initial default list of currencies be too cluttered with currencies used by a minority of users IMHO.
OpenPGP KeyID: france short hawaii
Although I moderate and post a lot on the Ripple forum, I am not associated with RippleLabs; I'm just a Ripple user. I speak only for myself.
I am somewhat associated with RippleFederation and a minor financial supporter of RippleUnion.
dchapes
 
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Location: Ontario, Canada

Re: Is possible to create New Currency Unit?

Postby bitcoin5411 » Tue Mar 26, 2013 12:44 am

dchapes wrote:
bitcoin5411 wrote:Here's another vote for adding "ARS - Argentine Peso" to the official currency list of the web client
Just type it into the text entry field instead of using the drop menu. On the trading interface whatever combinations you use percolate to the top of the list over time. There is no point making the initial default list of currencies be too cluttered with currencies used by a minority of users IMHO.


Well you have a chicken and the egg issue. People don't know you can trade in ARS because its not on the list.
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Re: Is possible to create New Currency Unit?

Postby Tengo » Mon May 06, 2013 2:59 pm

Are there any ARS Ripple gateways that accept cash in Buenos Aires? Does anyone interested in offering such service?

bitcoin5411 wrote:People don't know you can trade in ARS because its not on the list.
Tell them, spread the word!
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