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Don't worry. MasterXChange is 100% legitimate. I will vouch for them. They are just having some technical difficulties, because they try to handle customer funds in a very secure manner. They would rather wait and resolve everything, than roll out a system that might be insecure.
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Is there anyone here that can help with explaining Counterparty's role with Medici?
Any theories on how they might work to together and if there are benefits to Counterparty?
Thanks!
As prophetx said, you can only ask Patrick who is in charge of Overstock. The devs are under a non-disclosure agreement and can't say anything. Sadly, it will not help to repeat this here. It is 100% up to Overstock to make an official statement on this, and not the responsibility or even the right of its individual employees to do so. They could end up in court if they said anything. This is simply the nature of the such contracts. Overstock must make the announcement, not individual employees. Nobody else has any information, unfortunately. This is all we know so far, from Adam Krellenstein, one of the founders and core developers of Counterparty: Yes, the situation is unclear---sorry, we just can't say much at the moment. There'll be some relevant (positive) announcements very soon, though! Suffice it to say that Evan, Robby and I will all be working on Counterparty for the forseeable future.
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Koinify? So it won't be on counterparty nor mastercoin?
Koinify uses Counterparty. This means that Factom will be a Counterparty token. |
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Patrick Byrne talks with cointelegraph
CT: Will Medici only be working with Counterparty?
PB: No. There are two different projects. Medici is one product, and Counterparty is a different set of developers. They are not tied together, although they will have certain shared relationships.
CT: What and when is the first deliverable for Medici?
PB: The technology platform that would allow us to issue a crypto-security and have our own crypto-coin, we can finish in Q1 [first quarter]
So what is the XCP role in this project??
Counterparty lets anyone create their own crypto-coins/tokens/assets and trade them without ever using XCP (only BTC transaction fee). Counterparty is much, much more than just XCP. And only Overstock can comment on this further. The devs are under contractual obligation to not say anything without the approval of Overstock. Counterparty smart contracts use the Ethereum virtual machine (same programming language, 100% compatibility), but the port of that onto the BTC network and Counterparty platform itself is original. And yes, Factom will be on Counterparty. |
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Smart contracts were copied from Ethereum so probably many other will do the same... We need a statement what is going on  Many can do the same, but they have 1 year of catching up to do (or would not use BTC as a platform). Nor do I doubt that anyone would be as generous as the XCP founders, to self-fund their development. Also, first mover advantage and all that. Also if someone has the idea, skill and motivation to do so, they will likely just apply to be hired by XCP. (So they can work on an existing, and repeatedly audited platform). I don't see a logical motivator to push forward on another BTC-based platform. If the motivation is profit, proof-of-burn remains superior. If the motivation is technological, they can work on existing open-source XCP software. You have to realize that companies like Overstock issue NDA's (non-disclosure agreements) that people have to sign. They can't say anything, it's in their contract. It's up to Overstock to make the announcement, not Counterparty devs. |
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is it possible to block masterxchange's wallet on Counterparty network ?
Counterparty network = Bitcoin network. It's impossible to block or restrict access for anyone. If you have internet, you can always use the Bitcoin network. |
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Any updates about Medici project would be very welcome... if its possible  This is all that has been said so far: Yes, the situation is unclear---sorry, we just can't say much at the moment. There'll be some relevant (positive) announcements very soon, though! Suffice it to say that Evan, Robby and I will all be working on Counterparty for the forseeable future.
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The entire thing could definitely be done using smart contracts. But at the moment, it's a bit tricky.
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I totally agree with your post but it would be nice to have at least a comment, even if it's "we can't say anything because we're under an NDA". Whether we agree with the market action or not I think it's reasonably clear that it is placing a high value on counterparty being associated with Medici. But anyway I hear your point and agree with everything you’ve said.
On a different topic I’ve been wondering recently if there are any plans for how we can drive increased use and adoption of the DEX. I know that the vending service was relaunched recently but haven’t seen much happen beyond that. Granted a lot has happened since XCP was initialized a year ago but one of the selling features initially was the DEX itself and the value that this would provide over centralized exchanges. I don’t personally have any concrete suggestions yet but it’s certainly something that I’ve been thinking about a lot.
Smart contracts (and more projects that use XCP). |
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Does that mean that I can download the counterwallet.io and make a clone of it, and run it on localhost webserver? I trust https://counterwallet.io but I can't trust it 24/7. You can never know if somebody's gonna be able at some point to inject some code into the javascript. Yes. Also to address your point: I'd say its for hot wallets and convenience. If you are dealing with substantial amounts of funds, it's a better security practice to use counterpartyd and/or cold storage (same as with Bitcoin). You could also add watch-only addresses in Counterwallet.io and sign the transactions offline (that way your funds will remain where they are, even if you get hacked). Does anyone know if it's possible to create a smart contract that mixes coins? I know there was recently a push for a raffle type script but a mixer would to me be a lot more beneficial for the liberty and freedom ideals.
Tricky question. But I'm guessing it should be possible. |
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How safe is https://counterwallet.io?Can somebody explain to me how is this working? How can we be sure that somebody is not putting a backdoor like form to steal our 12 words password upon login? It's open-source, and everything is handled using javascript (on your computer). The actual login and transaction signing process isn't done on any server (in fact your passphrase is never sent to counterwallet.io), instead it all happens inside your browser: https://counterwallet.io/js/counterwallet-min.js?v=03f7c112aa43 If you are still worried, you could run Counterwallet, or counterpartyd (the command line client) on your own computer. CounterpartyGUI (graphical user interface for your local computer) is coming soon, see http://counterparty.io/news/counterparty-development-update-10/. |
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otherwise it will look very much like CP is being abandoned with an incomplete dev team.
While I agree with your sentiment that this matter should be cleared up, I wouldn't say the team is 'incomplete' by any means. XCP has two full-time devs, and they just hired another. (And are still hiring). And as it was mentioned many pages previously, the devs that are working on Medici are still very much active on XCP (and the topic of their Overstock work is still directly using the XCP platform). |
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Around (00:30:00) he hints that he is in talks with other parties (not XCP) where Medici will be built. My guess is it' probably ethereum
Counterparty will have 100% compatibility with all Ethereum features, and its secured by the Bitcoin network. What would be the motivator to switch to Ethereum? Hi devs, there are rumors that Medici will not (anymore) be built on Counterparty and Overstock is "talking" to some other parties!?
Whats the deal here? :\
It's a very exaggerated reddit title. |
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Ok people...
Is there anyone who knows what the HELL is ''GOLDTICKETS'' ??
And what the hell can I do with it ?
Because I asked Counterparty and they don't even know it !!!!!!!!!
I believe it's tickets to go to SWARM events and/or VIP. You should message the guys at http://swarm.co, not Counterparty (since they aren't the ones issuing that asset). Counterparty only provides the technology for the platform on which assets are issued and traded. https://bitcointalk.org/index.php?topic=664071.0 |
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I think there's been some discussion about this before but is there any way to enable 2FA on counterwallet? I know that the passphrase itself is very secure but I worry about the potential implications if someone has malware etc on their computer.
Well, it's all handled client-side so I imagine that would be a bit tricky. But there is multi-sig. |
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XCP listed on a new exchange:
https://alts.trade/trade/XCP/BTCAny estimation when the desktop wallet will be out, want to use it for gemz
I think I heard March/April? (probably after smart contracts, which are the priority.) Others may be working on visual wallets too (Koinify, Medici of Overstock, etc...) You can use the command line interface for now, since it's really not that bad.
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So as far as the criticisim that XCP (the counterparty token) is an unneccesary addition goes, From those individuals I am always interested to hear at the least detailed technical explanations. of how CounterParty could implement counterparty-specific features..without counterparty specific tokens.
I've personally never heard one. And wow, rekt. Your entire post deserves nothing less than a standing ovation. |
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Funny, it's almost as if those who yell the loudest are the same that do the least research. |
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I really don't see what differentiates counterparty and mastercoin from other altcoins hence why I don't think they deserve their own subforum. As was already mentioned, putting your transaction data into the Bitcoin blockchain doesn't make your coin Bitcoin, it's still an altcoin. That doesn't mean those altcoins are useless, but they're not Bitcoin and they're not Bitcoin 2.0.
By the way, discussion about how an altcoin affects or differs from Bitcoin may be posted on subforums other than alternate cryptocurrencies, so discussions about blockchain bloat caused by altcoins are allowed outside of the altcoin section.
Counterparty is most certainly not an altcoin, it didn't even have a fundraiser and it cannot exist without BTC (nor does it ever plan to replace it). It is a toolkit that allows people to use the Bitcoin blockchain for more powerful and innovative uses than simply transferring currency, such as smart contracts. A simple way to visualize this would be to say that it is building a 'free market Wall Street' using Bitcoin transactions themselves. XCP is a necessary protocol-aware intermediate currency, and trust me the devs would use BTC if they could. Their motivations are pretty much directly aligned with Satoshi's, and the free software community. If you want to create (numeric) assets on Counterparty, and trade them with each other, you only need Bitcoin. You can create your own tokens/coins and trade them using only BTC. You can also pay dividends in BTC to your assets. I repeat, if you want to create assets and trade them with each other on Coutnerparty, you never need to even touch XCP. The purpose and philosophy of Counterparty has always been to extend the feature-set of Bitcoin without the use of a secondary currency as much as possible. XCP is sadly a technical necessity for many features, because it has to be protocol-aware, whereas BTC is not. If you have a way to implement these features without an intermediate currency (which in no way shape or form should EVER replace BTC, because XCP cannot exist BTC), then there are millions waiting for you. You are welcome to install the develop testnet version of Counterparty with smart contracts: https://github.com/CounterpartyXCP/counterpartyd/tree/developYou can code ethereum smart contracts and work with them today. They are undergoing a very comprehensive security audit and rehaul to make sure they are stable and secure, but that doesn't mean tehy don't work. Smart contracts can replace pretty much every altcoin: https://github.com/ethereum/serpent/blob/master/examples/namecoin.seThere are development updates on a weekly basis, and it is quite possibly the fastest developing crypto project today: http://counterparty.io/news/P.S. Counterparty is literally the only "2.0" (I really hate this term) coin project which is actually in the portfolio of a company actually listed on a real stock exchange. OVERSTOCK is putting single digit millions to build on top of Counterparty. P.P.S. This is a good place to start dispelling some myths: http://coinedtalk.com/12-myths-about-counterpartyxcp/ (may be slightly outdated, though) |
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Looking at the parallels with Bitcoin development, we can see that the law of exponential advancement is pretty much coming true. Counterparty is evolving at a faster rate, and I hope we can see mass adoption with 1-2 years. Happy Birthday to my favorite "2.0" project, which most certainly is not an altcoin. I think Satoshi would be proud  |
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