Insane BTC to XAU exchange rate on RippleTrade

Trade experiences with Ripple users and gateways
Google [Bot] like(s) this thread.

Re: Insane BTC to XAU exchange rate on RippleTrade

Postby stephenrs » Mon Mar 21, 2016 6:10 pm

@ Enej Thanks for your reply, and I while I have some compassion for anyone starting a new business (I recently started another one myself), there's unfortunately really not much you can do to make me happy at this point.

I think that most everyone reading this thread would consider themselves fairly technologically sophisticated. Having used hundreds (thousands?) of web apps, one learns what signs to look for to determine if an application is trustworthy enough to give it access to sensitive information or actual money. Gatehub simply does not pass that test.

Gatehub isn't another photo sharing app or messaging mashup. It's intended to be trusted for extremely sensitive personal and financial information. This means it must hold up to a far higher standard of stability and function than the typical app that kids whip up in their spare time. RippleTrade failed to do that, and now I see Gatehub following in the same path. It feels like kids playing around. Not taking itself very seriously.

The problem that I encountered trying to transfer funds to myself was not an unusual edge case - it was the primary Send Payment use case. It was the use case that I was specifically instructed to perform in all of the messaging I had received. The fact that this app has been released to the public (for more than a year), and no one has ever tested what would happen if someone tried to do an internal Gatehub wallet-to-wallet transfer before you'd completed whatever undocumented process you complete behind the scenes, is inexcusable.

The fact that the app didn't detect that this had happened and react and inform accordingly is inexcusable for a financial services application. The fact that nowhere is it documented how internal Gatehub transfers work under the hood, and what pieces need to be in place is insanity. Was I supposed to guess what was happening under the hood, and that I needed to wait an arbitrary unspecified amount of time, when I followed these instructions? ... nd_payment

Or, maybe worse, you tested it and didn't care if users could so easily lose access to their funds. It's a gaping hole in the app, and if the amount that went missing was larger than it was, you would be talking to my lawyer right now, instead of me. A simple truth, not bluster or threat.

Do you do any QA at all, or are you just playing around with people's money and getting us to test it for you at our expense? Based on my experience trying to use the app to actually do something with real money, then following up with a critical review of the app and documentation, I can only conclude that either you don't know what you're doing when it comes to building customer-facing financial tools, or you just don't care enough. I don't mean to be rude, it's just my honest unfiltered assessment.

Also, you say you're using different developers than the RippleTrade devs...but it's only on RippleTrade and Gatehub, of the many many financial-related apps that I use constantly and for many years, that I've ever seen the bizarre UI/UX tricks that you guys use. When you trust a web app to handle your money, YOU DON'T WANT TO SEE ERRATIC, UNCLEAR, UNTRUE, MESSAGES FLASHING ON A SEND PAYMENT FORM. This does nothing to convey that the app is stable, or that your money is safe - it does exactly the opposite. Messages like that might be useful to a developer during a debugging session, but for a user expecting clarity, rock-solid stability, and a consistent (== trustworthy) experience, they are a nightmare - indicating that something is probably wrong...and for me, a nightmare that came true.

There are literally an infinite number of ways to implement a send payment workflow, why do you people insist on making it "feel" as unstable as possible? These cute little ajaxy tricks have no place in an app like this, especially not in the middle of a financial transaction. And, since submitting the form sent my money into nowhere, and beyond my reach for over a week, the reality is that the app is as unstable as it you've made it look.

I don't know what has gone afoul in the culture around XRP, but it's consistently foul - from its origins, to its disorganized approach to everything, to its public-facing technology - and outright illegal activity - so at this point I don't want anything to do with it. I was initially drawn to the vision and opportunities around easy, inexpensive value exchange, but 2 years later, it just seems that my time and money will be better spent watching from a distance.

Maybe you guys are doing great things behind the scenes, building relationships with financial institutions and such, but making the Ripple network usable, solid, and comprehensible to the general public continues to be an absolute failure, IMHO.

So, please excuse my bluntness, but if you want to make me happy, as you say, then please describe a process for getting my funds off of your network without providing you with my banking details, because simply put, I unfortunately just don't trust you with that information, and money that I own is currently trapped in your hands.
Posts: 15
Joined: Tue Aug 12, 2014 10:33 pm

Re: Insane BTC to XAU exchange rate on RippleTrade

Postby GateHub » Tue Mar 22, 2016 6:21 pm

Hi stephenrs,

GateHub's gateway only support International Wire and SEPA transfers to your bank account. Unfortunately we do not provide BTC withdrawals (yet).

International wire transfers are safe and GateHub can never access your bank account.

If you do not wish to withdraw funds via our gateway you can always use any other ripple gateway. Some of them are posted here: ... formation/.

I truly am sorry for all the problems but believe me it's in our best interest to make things better and easier.

Please let me know how you wish to proceed and I can help you.

User avatar
Posts: 18
Joined: Mon Jan 26, 2015 10:09 pm
Location: London, UK


Return to Trade Reports

Who is online

Users browsing this forum: No registered users and 0 guests