what if I want to hold more than one type of USD IOU? Are you saying everyone should just use a single gateway? Surely there are valid reasons to trust more than one. For example, it becomes more convenient to deposit with a new bank, though you still hold an account at your previous bank.
I think trust lines have a "quality" setting, which is the ratio for converting between one type of IOU and another type of IOU. The client doesn't let you set it but you can issue a raw RPC command with JSON in it that sets it. I expect in the future this option will be provided.
I think this is right. It sounds a lot like what the OpenCoin guy in the booth told me. He said you can even move it all the way to zero (in both directions), effectively disabling all rippling through you.
Since there are risks involved with being a free liquidity provider, and no benefits (as far as I can see), I'm trying to understand what incentive I have to do anything other than dial this knob all the way down?
does ripple still work in practice if this default (free "liquidity providing") is switched to "off"?
I am not 100% certain but it would have to be implemented in a way that says "ignore everything but order books when computing paths." I believe Ripple would still work in practice with this change.
Interesting. Thanks for your insight.