Bitcoin Forum

To answer my own question, I say yes it is:

It's not a clone coin, not a gimmick coin, not a cash grab IPO coin designed to enrich the founders before they had delivered. It is a brand new design from scratch.

Real Value is derived from the CounterParty protocol, a protocol which adds value to the bitcoin network itself by expanding capability of the blockchain beyond simply 'dumb' payments . Whilst the main use of XCP is not intended to act as a currency, the underlying XCP token allows acts as an anti-spam fee (much like ripples XRP) to create your own assets on the blockchain, to engage in p2p bets, run smart contracts and other advanced financial operations on the blockchain. It also to you to own 'shares' in the protocol (just like owning bitcoin allows you to have a stake in the success of bitcoin as a protocol)

Below I will give a brief run-through of the relevant points.

Security

The project has been independently audited by respected Bitcoin Experts, Peter Todd and Sergio Demian Lerner. To my knowledge, it is the only major Bitcoin 2.0 project to have had multiple formal, comprehensive, expert security audits of its codebase.

https://www.counterparty.co/sergio-lerner-peter-todd/
https://www.counterparty.co/sergio-lerner-completes-security-audit/
https://github.com/CounterpartyXCP/counterpartyd/labels/Peter%20Todd%20Audit

Sergio Demian Lerner's words:

Since counterparty is essentially an abstraction layer on-top of bitcoin enabling advanced crypto-financial utilities to be built, it benefits from bitcoins already established ecosystem (Far and away the largest in the entire cryptocash landscape), Therefore it enjoys nearly 300 Petahash worth of miners diligently securing the blockchain it resides upon.

Launch information
 
Innovative, transparent and fair distribution model
Coins were not released by a proof-of-work model, favoring those with the biggest rigs, nor an IPO which enriched a small group of people before they had actually delivered any work, everybody had an equal chance to profit on equal levels. No entity pocketed a satoshi of the burned funds. BTC was destroyed permanently by being 'burned' (sent to unspendable address) in order to acquire XCP. This had the effect of enriching Bitcoin holders by diminishing total available supply. In addition burn period start/end was clearly defined by a hard-coded block number.

Source: https://www.counterparty.co/why-proof-of-burn/

Limited supply, non inflationary (2,648,755 XCP MAX)
Source: http://blockscan.com/
(coins are deflationary due to being burned in situations like asset issuance- In short the total monetary supply will never be increased, as there is no need for PoW or PoS). This makes it an excellent choice for a long term store-of-value.

On an average basis, each day 12 XCP are permanently removed from circulation by users registering assets and miscellaneous transaction fees. This number is gradually increasing.

Development team

Extensive bug bounty program
Source: https://www.counterparty.co/resources/bug-bounty-program/

Full time, self sufficient core development team.
Community relations manager
5 x  Experienced & public Full time coders (Adam Krellenstein, Robby Dermody, Evan Wagner, Ouziel Sama, Karol Pogonowski)
Marketing lead - Chris Derose

Platform Features

Blockchain based voting

The Bitcoin Foundation recently used CounterParty to hold an on-blockchain vote for election run-off 2015. - http://blog.bitcoinfoundation.org/voting-on-the-blockchain-version-1-0/

Anyone can create their own voting system via CounterParty. http://blockscan.com/votes

Register property titles

Via Szabo's Seminal paper: "Secure Property Titles with Owner Authority"  http://nakamotoinstitute.org/secure-property-titles/


CounterParty ticks all these boxes.
.
Ability to issue any smart property and pay Dividends directly with BTC as well as any other counterparty asset. (NXT, Bitshares etc, cannot do this natively)

Backup any XCP smart property onto Cold storage Paper wallets You could purchase a token using BTC that represents an OZ of gold, store it into a paper wallet offline, then import it at any time onto the network, you could then choose to receive ownership of that physical gold, or sell it in it's digital form on the decentralised exchange. Since XCP is natively compatible with BTC, you can do this with any counterparty asset.

Additionally Cold storage via Armory offline Wallets is natively supported. Counterparty is the first 2.0 project to support such features.

https://i.imgur.com/1zZoHhf.jpg

Innovative projects built on top of the counterparty protocol

• KOINIFY (https://koinify.com/) The Decentralized Application Platform - World Class Crypto crowfdunding
  
• GEMZ (http://getgems.org) Gems - Messaging That Pays. Social Meets Cryptocurrency.
  
• FLDC (http://foldingcoin.net)FoldingCoin | Mine Medicine – Not Hashes
  
• SWARM (http://swarmcorp.com/) Kickstarter on steroids. Decentralized crowdfunding with due-diligence, voting & benefits for all SWARMCOIN holders.
  
• BETXCP (http://betxcp.com) Decentralised sports betting (without ever giving anyone control of your coins)
  
• XBET (http://xbet.io/) World's first P2P, trustless & decentralized betting platform.
  
• STORJ (http://storj.io) P2P dropbox and MAID competitor - Decentralized cloud-storage.
  
• VENND (http://www.vennd.io) Exchange gateway & Vending machine for XCP, BTC, assets. (Cross-blockchain support possible.)
  
• Spells Of Genesis (http://www.spellsofgenesis.com/) The first onchain economy game ever made)
  
• Digital Tangible Trust (https://www.digitaltangibletrust.com) Escape BTC volatility! -  Trade Gold and silver via the Blockchain. Backed by physical holdings
  

Latest News

21 September 2014 Counterwallet 1.5.0 released Read more: https://bitcointalk.org/index.php?topic=637645.msg8908148#msg8908148

6 September 2014 Armory offline support now implemented in counterwallet main net Read more: http://www.cryptocoinsnews.com/counterparty-first-bitcoin-2-0-platform-offer-armory-offline-wallet-support/

26 August 2014 - Multi-sig addresses are now supported on testnet. (Useful for two-factor authorization, escrow, and decentralized organizations.) Read more: http://www.coindesk.com/crypto-2-0-roundup-counterparty-debuts-multisig-ethereums-crowdsale-comedians-go-crypto/

2 August, 2014 The man who would undo Wall Street by offering Overstock.com 'crytposecurities' http://upstart.bizjournals.com/entrepreneurs/hot-shots/2014/08/01/the-man-who-would-undo-wall-street-by-offering.html?page=all

06 October 2014 -- Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market based on Counterparty
http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market/
http://www.reddit.com/r/Bitcoin/comments/2iho5p/counterparty_founder_robby_dermody_hired_by/

11 November 2014 --

• Counterparty announced that its developers have successfully ported the Ethereum Project’s programming language over to the Counterparty platform, enabling users to save and execute Turing Complete Ethereum code on the Bitcoin blockchain
  

http://counterparty.io/news/counterparty-recreates-ethereums-smart-contract-platform-on-bitcoin/
http://blogs.wsj.com/moneybeat/2014/11/12/bitbeat-bitcoin-2-0-firm-counterparty-adopts-ethereums-software/

12 November 2014 --

• In addition to purchase of blockchain-tradeable precious metals verified owners of physical gold bars and gold coins can now trade their gold for bitcoin (tradeable p2p via CounterParty) using the DigitalTangible’s Web Wallet and network of gold dealers for same day settlement. Partnered with premier precious metals dealer Agora Commodities, DigitalTangible now offers a completely FinCEN compliant precious metals route into bitcoins.

http://www.businesswire.com/news/home/20141112005418/en/DigitalTangible-Launches-Bitcoin4Gold-Service#.VGPOFmSsU4R

• Major milestone reached – the 100,000th transaction on the Counterparty network!
  

http://counterparty.io/news/counterparty-recreates-ethereums-smart-contract-platform-on-bitcoin/

• CounterWallet Chinese translation complete
  

https://counterwallet.io/?lang=zh_cn

• Rick Falkvinge, the author of Swarmwise (inspiration for Ethereum) and founder of the Pirate Party, plans on shaking up the world with his new project called SwarmOps, shares of which are available on CounterParty

http://bitcoinmagazine.com/17956/swarm-1-rick-falkvinges-swarmops-project

The problem of some top20 coins is that their characteristics are too advanced for the average buyer.

Buyer wants a coin he can understand what it does.

Litecoin he can understand. It's BTC but faster.
Darkcoin he can understand. It's BTC but faster+"darker" (private)
DOGEcoin he can understand. It's BTC + faster + "funny" + billions of coins for the lulz
Namecoin... wtf is this, yeah well we already have DNS
Protoshares...  ??? ???
Ripple...  ???
Mastercoin... ???
NXT...  ???
Maidsafe  ??? ??? ???
Counterparty  ??? ??? ??? ???

So how is someone to buy if there is no understanding what it does. And those who do understand thinking "oh that's great, has vast potential" etc etc, well, they are waiting for the "simple money" to jump onboard so that they can get appreciation on their early buying. But the simple money doesn't follow the large money / early investors because they don't understand what these coins do.

Cryptomarket is weird. You can sell a simple concept but not a complex one. The more complex the coin is, the better chances it has to get itself buried.

If this post has widened your understanding* of the "complex-coin market" psychology and why some coins tank when "...they shouldn't", tip freely :P

* This is an expensive lesson that one will figure out only if they've burned their money in "complex coins".

True.
I'll try to give a quick overview of some of the recent projects being built using CounterParty

Swarm - Crypto-crowdfunding, kickstarter on steroids
http://www.swarmcorp.com/

Swarm is bringing true crowdfunding to the world. Contrary to other crowdfunding platforms, investors in Swarm listed companies will be buying equity in the companies they fund. Swarm does due diligence on every company listed on the platform. More than that, Swarm will be funding coin-powered accelerators to incubate and coach young businesses. Accepted companies will raise more money faster and with reduced costs. Swarm companies will offer investors real equity in turn for investment dollars instead of being limited to gifts or early access to products. When you decide to make an investment, you will be making it through the Swarm app.

CounterSports (soon to become Xbet) – The world's first distributed betting application
https://bitcointalk.org/index.php?topic=621560.0

With Xbet you can make anonymous, secure and trustless bets completely p2p. Just like Bitcoin enabled you to not rely on central banks CounterSports leverages CounterParty to ensure you don't need to trust your Bookmaker. Nobody can steal the coins you've deposited to the gambling site because no-one receives these coins! they are completely safe being escrowed by the protocol. You don't have to wait for 'withdrawals to process' or to fax in any documentation or wait until someone announces the sites been hacked! the site can be hacked but your coins can't be stolen!.. it's 2014 and this is just the beginning of betting on Counterparty platform :)

Vennd - an open source blockchain application
http://www.vennd.io/

With Vennd, potentially you can have a USD backed asset (from coinbase for example) on the DeX
Or, you can convert another Cryptocurrency, like LTC into XLTC  that can be trustlessy traded & escrowed on the Dex!
No more Goxing  :D
No more central securities exchanges that get closed by US governent (like Bitfunder and BTCT.co) when you can smoothly IPO with vendd and CounterParty

DigitalTangibleTrust - Trade digital Gold tokens backed/secured by custody
http://www.digitaltangibletrust.com/

You can convert BTC into Gold or Silver, then either receive those metals in your physical possession or trade them on the exchange for tokens backed by gold holdings
Easily escape the volatility of BTC and diversify into PM's and back to crypto from comfort of your armchair!

Glad you posted this thread. I have been curious about XCP.

I wonder how to value the 2.0 coins. I have a few NXT, like what I here but don't really know. Looked at Bitshares but it doesn't ring for me (not yet anyway). Ether looks extremely interesting.
But I have enough sense and where with all to know that most people can't even grasp Bitcoin and so these 2.0 coins are not even on the radar yet, except to a few in the Crypto space.

We can at least say here we are "From the Get Go Early Adopters" with the 2.0 stuff.

Remember, BTC was once pennies as well.

We might just not be able to see what these new coins are. They are like more Black Swan offspring from Mama Black Swan BTC.

IAS

What Maidsafe is not a shit coin  ???

I agree 100%, but it's true "hope" that some day averague guys which now starts to understand bitcoin will understand next gen systems too, it will take a bit, but there will be more early adopters this time, and we are between them :D
I have to say too that I became very disappointed with all the DOGE success, this should make us think about most investors and crypto users mentallity  :-[ But I believe that common sense will win.

And no, Maidsafe isn't a shitcoin if you are asking seriously, it's a great idea "although could be built on top of nxt, which is the most open system which I know for the moment". The shit are the tokens which had been given to the investors and represent 1 coin each, but they are only tokens, the good thing will come once redeemed.

I think in the case of CounterParty, which isn't a 'separate' coin, rather an open protocol bootstrapped on top of the Bitcoin network
it's more complimentary, rather than competing to Bitcoin unlike NXT, Bitshares, and the much hyped Ethereum.

CounterParty can be thought of as an API extension to Bitcoin- it adds advanced crypto-financial features to the blockchain. As CounterParty (the protocol) matures, it brings value to the blockchain, the reverse is true in that  the more mature Bitcoin becomes the more people will be looking to add alternative apps which take advantage of it's massive distributed ledger, including but not limited to:


- Decentralised Asset issuance- Assset trading, dividend distribution
- Decentralised Speculation/ Hedging/ Betting (binary options, sports books etc)- Prediction Markets, CFD's
- Decentralised, trustless sentinels via Counterparty's inbuilt Broadcasts and feeds - Warrant Canary, Dead Man's Switch, Heartbeat bcast , Keepalive bcast ,  Watchdog Timer

Think of an intrade that can't be closed, BTCT/Bitfunder that can't be shuttered by SEC, Gox that can't play fractional reserve, and Inputs that can't have it's wallets siphoned. these are some of the things counterparty can enable since it has the security of Bitcoins blockchain backing it. It lacks the attention that Ethereum has gotten, but it's powering steadily on in the background in stealth mode and not making any grandiose promises in exchange for private VC funding rounds.

the reasoning given by alex is probably not the worst one  ;D

I made a statement regarding counterparty a billion times in this forum: it is without a doubt one of the best projects regarding, capability, fairness, openess, innovation, driven by excellent and intelligent developers. until now it lacked marketing, but I think they now have the right guy for that.

I do not think this needs to become an advertisment thread, the underlying currency xcp is UNTIL NOW only in small use, this is given by the developers dogma what can be done with bitcoins, will be done with bitcoins. xcp can be taken in escrow and until now it was not neccessary - hopefully this will change once decentralized betting starts.

so far it is a promising project with high ethics - let's see where their underlying currency will go.

I hold it ultra long term so I basically do not care for short term pricing.

I'll bold some stuff and put some smilies to give you a perspective of the "common" man:

For every ??? imagine a frustrated reader saying "wtf is this shit and why should it interest me to buy it with my precious BTCs?"


...I think now you get the point why it's going nowhere...

If you can't tell what your altcoin does in one sentence, it's DOA.

I'm also not particularly concerned with short-term pricing either. This is absolutely a long coin. If someone was concerned only with short term pricing they could of taken the advantage to dump when it was trading 900% higher.

I'm fascinated with the disruptive potential of the technology, exactly what drew me and so many others towards Bitcoin.

The developers have been storming forward on CounterParty, despite lacking the big name backers, or foundation funds of Mastercoin they thrashed them to market with the world's first working decentralised exchange whilst other players were in whitepaper stage. Any time the slightest negative incident has happened the developers have came through (e.g in cases of lost funds they've refunded out of their own pockets) I have not seen this kind of action from any other alt-coin developers

Undervalued refers to 'under-appreciated' as much as refers to the btc/dollar denominated market cap.

I get it kinda but it's like reading Bitcoin whitepaper and discussions about byzantine generals problems, most did not understand i

yet it was something special clearly even to a casual reader who didn't understand all the terminology, and empowers the world, it enables things to be done that weren't previously possible. When you get things like that  naturally it's difficult to put the cat back in the bag.  The early adopters lead the way by creating the infrastructure, and then eventually the masses once it's been dumbed down (or matured) enough. You can choose when you want to enter depending on how much time you want to sink into the project and your tolerance to risk.

I know altcoin world is largely specualtive market, and sometimes for obvious reasons it makes sense to jump on pump and hype trains in short term but I'm just not sure why people seem to sleep on genuinely exciting and innovative projects like this as long term buys, yet laud things like a multipool or coinjoin as being a game changer on QT clones.

If it was undervalued then, its a steal now.

I don't get it either. Their platform is rather beautiful compared to some others, their innovations involve real-world applications and they've got some solid backing.

I still need to learn how to designate feeds for determining bet outcomes.

e and wait again, etc. Small increments, because he might decide to pay you the first and second, to scam a bigger tranche. Always suspect if he doesn't accept to trade in small tranches.

I think it is still ahead of its time, as is BTC and Cryptos in general. So, the 2.0 stuff is really not on anyone's radar. And the Pump & Dump mentality is still strong and perhaps
guiding much of the market.

I've heard using BTC to purchase other Cryptos in the wallet can take one or two hours as they are waiting for 5 or 6 confirmations (due to potential for a blockchain rollback.)
But, when using XCP, the transaction is maybe 5-10 minutes(?)

I think buying a few XCP for future investment, asset purchases, etc. is a wise decision. But only use a very small % of your overall BTC holdings.
I'd like to have maybe 5% of my BTC in NXT, XCP and Ether and another 5%-10% in other Cryptos (e.g. The anonymous XMR, maybe some LTC, and a couple of other up and comers.)

IAS

You really like XMR? I have to admit, I am turned off by the mindless borg-like crowds that pump it day and night. To me that's the telltale sign of a coin that doesn't have anything going on for it at the core, but maybe I am wrong from time to time.

It will be interesting to see how much more steam the whole altcoin world has left in it, and to find out exactly what point in the bubble we were at now. I hope its still the first 25%.

Nice thread, I have been wondering about Counterparty myself for quite some time.

Isn't there some sort of risk involved with the BTC devs not wanting to "play nice" with Counterparty? I remember reading something about a limitation put on the amount of data CP could store.

We don't understand this space yet, we can't. It is going too fast, the ramifications are too large and the even horizon too near. This is like the internet on steroids and once it really gets going we will look back at these times in disbelief (barring a catastrophe). I think most of the alts will just disappear, and some will be used in small communities (or as local currencies perhaps).

I think there is going to be a subset of alts that are anonymous. Yes, you can use Darkwallet and such, but that technology, from what I understand, is behind ring signatures used in CryptoNote. (And I prefer not to keep all my eggs in one basket. It is nice to have something NOT at all based on BTC.) A few of these anonymous currencies will probably still be around in a couple of years and if you guess/research right, well you know. Rptiela did his HW on it and then I read a bunch and it by far is the best anonymous coin. The best doesn't always win but I'll go with a coin with a very strong development community behind it, taking things slow, no instamine/premine, not getting into marketing (too soon), etc.

Separate people who pump things for sheer profit/trading from those who did their HW and happen to be in the same coin. There are plenty of evangelists regarding BTC and alts but see the truth in the false if need be. You never know where truth finds itself. Not meaning to pump, I have not traded in and out of these coins (though I considered it with the recent rise, but the orderbook has been so thin.) Getting to the point where I hardly even trade, just too tough to call and when I do trade I only use a percentage of my holdings.

And for sure some of the 2.0 coins will succeed, but will their tokens appreciate as BTC does? I believe so, but it is too early to really know, we need to do an in depth analysis here once we see where the space is going (My bet is we will have a very good idea within 6-18 months). I think a little bit of diversity is safe, not to mention exciting. It is a fun space to be in and to look back on it years from now, if it does what the writing on the wall spells out, it would have been a very memorable thing to have taken part in.

Its about sharing

Counterparty has many ways to store the data, and there is no risk involved in this case whatsoever. It's just that the methods required to store the data will have to become more convoluted... 

I think it has promise because its built for the long term. Just look at the way it was launched.  :o

True,some coins are too advanced for some average buyers and they don't understand very well in what they are investing.  :-\

Added latest news relating to multisig support being enabled in CounterParty testnet.
With this feature, Counterparty users can include escrow agents, auditors or other third-party certifiers in transactions.

Same here, I've been curious about Counterparty for a while now. This thread stoked my interest, I will have to look into it some more. It does seem rather undervalued right now.

The honest truth is it most definitely is and so is Mastercoin.
But Counterparty has almost no marketing budget, and may not be able to find their niche.

Ripple and Stellar can most things better than Counterparty right now so Counterparty needs a niche.

In what sense? Ripple and stellar seem to be vastly different.

* You can't issue smart property on ripple or steller ( I know there's codius for contracts)
* You cant pay, or receive dividends in BTC or native assets on ripple or stellar
* it's not compatible with bitcoin blockchain, IE it can't natively interface, transfer assets to paper or otherwise 'offline' wallets. Everything remains in the ripple ecossytem
* Ripple/stellar system is some weird clunky network of trust gateways working with debts and IOUs
* Ripple labs, stellar partners own the vast majority of the tokens, making that token unsuitable as an investment, (riiple just released huge amount yesterday * after hearing BTSX pushed them out the way on coinmarkercap, inflating all existing holders stakes) - counterparty is deflationary by nature
No hedging, feeds, CFD's betting with ripple/stellar

etc

CounterParty is perfect for fundraising & trading, you don't need to trust any guys like Mark karpeles that the exchange platform is secure. Nobody can get goxxed with counterparty as your bitcoins are under your own possesion. You don't need to worry about SEC shutdowns for trading bitcoin assets, like with what happened to BTCTC and BitFunder. The counterparty protocol automatically escrows many trades on the DeX.- With the addition of multisig now some interesting new opportunities emerge.

This thread is great
I am happy to learn about counterparty

I'll play a bit with the wallet and see how it goes :)

Looking into the forum I see the community is not that big compared to the other crypto2.0 (Like Nxt, bitshares & Ethereum, its more of the size of NEM that didnt do nothing actually)

Lol, Stellar can't do anything right now, its a clone of Ripple except with all of the functionality apart from holding STR removed.

Ripple has some useful functions, but it isn't really comparable as its designed for totally different purposes; for example ripple has no dividend payment features, no trustless betting etc.

I think the main issue here is that people do not see the potential of XCP feed based betting, and XCP trustless betting. They focus too much on the 'coin' and 'asset' aspects of it, that the ability to create and place your own bets with only a line of text goes unnoticed.

This functionality alone is mind-boggling.

CounterParty does a lot of things right. They are my preferred platform right now because they allow BTC transactions and easy simple interfaces that everyone can use.

I think if they perfect the DEx and make BTC transactions go through 100% of the time, it could take off like bitsharesX at any moment.

I hope they keep development going strong.

http://i42.photobucket.com/albums/e347/SkullTokens/1409184774_zpsa965c897.jpg
SkullCoin: https://bitcointalk.org/index.php?topic=733916.0

This is a great post.

There are 3 main problems with Gen 2.0 platforms starting with Ripple, NXT, and the rest.

(1)  Complexity on a tech hobbyist level.

(2)  Very high counterparty risk.

(3)  Decentralization results in poor liquidity.

Bitcoin is about the absolute ceiling for acceptable complexity in mainstream crypto.

Most people are used to banks, brokers, real estate = insured and zero counterparty risk...
All of these Crypto Asset platforms are EXTREMELY dodgy relative to the Developed World...
For example, the #10 asset on NXT is a bunch of guys in Iran taking money to build an small ASIC farm...
You have precisely ZERO protection against these guys stealing your money.

And the last one liquidity...
XCP seems to have doubled transactions to about 300-400/day in the last 3 months (very nice!)...
And the NXT AE does about 200 tx/day (I would bet a LOT of that is faked by NXT whales)...
But this is microscopic and results in very poor liquidity... and MUST GROW FAST.

Bitfinex is doing 100 times the volume of NXT... 10,000 vs 100 BTC/day (not counting swaps).

Liquidity is a very esoteric, hard-to-explain phenomenon...
It tends to spontaneously explode around well-designed, centralized hubs...
Whales play a huge role in this... and liquidity begets more liquidity...
It would be very hard to grow on klunky, decentralized platforms (with 3-4-5 protocol layers, what could go wrong?)...
And any perception of counterparty risk just totally KILLS liquidity.

5-10 years ago ECNs were able to drain massive liquidity from the NYSE/NASDAQ...
So anything is possible if you attract the whales.

I am holding my XCP forever. Vote XCP at btc38.com, one of Chinese biggest exchanges.

XCP is ranking top 2 currently, need 35 more votes.

http://www.btc38.com/trade/vote_for_trade_en.html

Exactly. Even the complexity of Bitcoin is what prevents it from having wider adoption. People ask "what is Bitcoin?" and you can't really explain it properly without a mini-briefing of sorts.

Bitcoin needs to launch a campaign in which it can adequately compress its principles and functionality in a few short sentences that can be easily grasped by average Joe. Something that everyone can use in order to explain it to others.

2.0 coins are ??? ??? ??? ??? ??? ??? ??? ??? ??? ??? ??? ??? ??? all over the place.

At this point of time Bitshares seems to have been pumped regardless, but I haven't seen any of the "small" players buying into it... they are all wondering "what does this do and why should I buy?" Large pumpers play this game and they'll wait and wait for the small money to arrive and it will never happen.

Bitcoin very briefly: Money and online banking, but without banks.
Bitcoin fairly briefly: Like online banking, but controlled by the people so you don't need to trust a bank and so bad banking practices can't bring the economy to its knees and put us all in debt again. Also it includes a kind of money that isn't created based on debt and usary like our normal money.

Also these 2.0 platforms don't need to be used by the general public to be very successful. Very few of the people I know use the traditional stock market, for example, but that's doing pretty well.

Just crossposting a useful blog outlining some common misconceptions about the Counterparty platform.

XCP really moving well, any ideas why?

+1
Counterparty has a great team and I am long term bullish!

Added latest news update --

6 September 2014 Armory offline support now implemented in counterwallet main net Read more: http://www.cryptocoinsnews.com/counterparty-first-bitcoin-2-0-platform-offer-armory-offline-wallet-support/

Added latest news update --

21 September 2014 Counterwallet 1.5.0 released

Added latest news update --

06 October 2014 -- Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market based on Counterparty
http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market/
http://www.reddit.com/r/Bitcoin/comments/2iho5p/counterparty_founder_robby_dermody_hired_by/

more news to come

Price just went up 140%

This news is a game changer.

Great news, though this is going to be one slow exchange.

Price touched 0.015, massive jump.

yes

Not now anymore,  its in a bubble.

don't worry, it will come back down to earth soon. I think it has a chance to stay relevant for a long time, but they need to appeal to many more people first.

Counterparty's user base will not be the e-commerce end-consumer like with Bitcoin but the trader on wall street. You don't have to appeal to a mass here and still have huge value.

I'd encourage you to read the last three pages of this thread https://bitcointalk.org/index.php?topic=395761.msg9117646;topicseen#msg9117646 to form an opinion where it will go long term.

Trading on Counterparty is certainly not a breeze, with Bitcoin's long blocks.

http://counterparty.io/news/counterparty-recreates-ethereums-smart-contract-platform-on-bitcoin/


ALL IN!!!

Great work XCP team and without 25,000BTC.

XCP sounds very interesting to me. Dedicated dev team by the sound of it, and this will be key to keeping things going.

They have the same motivation to make XCP succeed as any other serious investor. They put their own money into the project, instead of using investor funds. This ought to make them much more dedicated, since they have something to lose.  ;)

And the answer is still yes at this point.

+1

I'm guessing > $100

At this moment in time, XCP is the low 0.005x (0.0051-0.0052) range. I personally believe it's quite clearly oversold and would consider it a comfortable cold-storage purchase right now. .

https://i.imgur.com/RPHRlK8.png

Last week, while everyone was Reddit arguing over the block size non-issue, a rather substantial piece of news slipped under the radar.

 Symbiont Raises $1.25M Seed Funding from Former NYSE CEO for ‘Smart Securities’ on the Blockchain

As Bitcoin Magazine reports:

In March, Bitcoin Magazine reported that Counterparty founders had joined with MathMoney f(x) and its founder Mark Smith as co-founders of the new fintech company Symbiont


So why is this a big deal? Anyone who follows Counterparty would have seen this post on March 10: Announcing Symbiont – Building the Next-Generation Platform for Financial Markets

From that blog post:


And then on March 31st, this was released: Symbiont Creates Ripple Gateway for Counterparty XCP


In summary, Symbiont is working with all of the leading technologies in crypto-finance (so others besides Counterparty too such as Hyperledger, Ripple, Sidechains. Being that the founders of Symbiont are also the founders of Counterparty, we would expect a large number of their projects to be XCP based. They also have an intimate knowledge of the technology, being that they built it.

For anyone who doesn’t know the intimate inner workings of Counterparty, here is a fact worth knowing (in regards to scarcity):


So how does this relate to pumps and dumps? While everyone was busy fucking around with worthless alt coins, investors who look at the fundamentals and pay attention to worthy news, were busy accumulating XCP.

It’s pretty clear, with the XCP price near all time lows the last few months, that anyone who believes in the Counterparty technology should have been taking advantage of the sale. With a $1.25m seed round from very prominent investors, and a Series A coming in Q3 (estimated), Symbiont has plenty of funding and backing to pursue a variety of Counterparty based projects. The XCP all time high spike was caused by the Medici news, which was far less significant than the recent news regarding Symbiont, and the relationship they have with Counterparty. Granted, that ATH spike was definitely attributed to some FOMO from the simultaneous BTC bubble, we see at least some upward movement from here. We don’t have a target, don’t care to make one, aren’t investment advisers and don’t give investment advice.

With the low proces of recently i decided to buy some a few days ago. Seems to have started a uphill climb, good to see there is actually a good explanation for this!

Most people seem to think that their favorite coin is undervalued, but it's usually not. If anything, it's usually overvalued.

Picked some up, looks promising!

Most people haven't picked a coin that has investments from an ex-NYSE CEO and the second largest hedgefund manager in the world. Or a team from Coinbase and Lockheed. Or a cooperation with the banking industry. Or the support of the founder of MathMoney f(x).

XCP is clearly undervalued.

Is Project Medici still happening?
 

the only useful way to price xcp is by expected value.


the targeted (securities) market is in market cap huge. you can try to estimate what percentage of the marketshare the symbiont/counterparty connection can achieve under what circumstances. I assume you get very little numbers percentage-wise, but due to the huge market cap of the targeted market it is still for a long time an investment with a positive expected value.

these analysis is probably useful for 3-4 coins which have intrinsic value.

June 9th 2015 - Symbiont raises $1.25 million from ex-NYSE CEO, ex-Citadel trader
http://www.reuters.com/article/2015/06/09/us-symbiont-blockchain-idUSKBN0OP28E20150609
http://www.ft.com/cms/s/0/0823a136-0ead-11e5-9ae0-00144feabdc0.html

July 17th 2015 -  Atlantic Merchant Capital makes investment in Fintech Startup, Symbiont
http://www.thestreet.com/story/13221075/1/atlantic-merchant-capital-makes-investment-in-fintech-startup-symbiont.html


Yes. Once more complex tools than simple private bond ownership to accredited investors are launched live in t0. Good news if you want to buy and hold, Price is low relative to all-time levels right now.

Go check Marc de Mesel's YT channel to find out what's wrong

August 4th 2015
http://www.bloomberg.com/news/articles/2015-08-04/wall-street-meet-block-368396-the-possible-future-of-finance

For those who aren't familiar with the last two ex citadel Symbiont Investors (Dan Tierney and Stephen Schuler) they paid out $1.4 billion to merge with Knight Capital , the merged company, KCG holdings accounted for approximately 14.0% of consolidated U.S. equity share volume last quarter.

Some more relevant information about the firm:



August 5th, 2015
http://blogs.wsj.com/moneybeat/2015/08/05/bitbeat-smart-contracts-land-on-wall-street/
 


Bear in mind, DTCC alone handles the clearing of nearly $2 QUADrillion per annum!)  or equivalent to the entire US GDP every three days. And they are not the only institution with eyes on blockchain tech, here is a list of some others working on pilots.


Recent news pushed the XCP price up to 0.01. CounterParty is currently trading down -27.31% and again a sub $5 million market cap at 0.0067.

I believe at this moment, with a long term purview- predicting expected value XCP remains undervalued.  I submit to any readers that factoring in latest developments at this price range (0.006),  it is a clear candidate for a long term buy and hold. It may well go lower, but I believe it will also go higher.

I would be interested in engaging with anyone who disagrees and hearing their opinion why they think that is not the case.

Cryptocurrencies are maturing into a new phase and scrypt forks & quick flips of gimmick IPO's on bittrexx have long since not being enough. Projects like this represent a rare  early investment window in the nascent cryptofinance space.   I will continue to post back on this thread on occasion with latest news and developments in the CounterParty world.

I wish there was some more definitive information. the symbiont / XCP uptrend can't be denied, though.

Very nice post. Good call. XCP is up something like 300% past 12 months. Still tons of runway. BTC can greatly benefit from the development of the XCP platform. I am looking forward to contributing to this project...has been "off my radar" for a bit.