Announcement: Desktop GUI bounty funds to be distributed.The funds at the bounty address amount to: - 7.41790989 BTC
- 1856.13963636 XCP
There were two submissions for the "desktop GUI" bounty - one from JahPowerBit, and one from btcfanatic. Between these two users, funds at the bounty address will be split thus: - JahPowerBit will receive: 4.45074594 BTC and 1113.68378182 XCP
- btcfanatic will receive: 2.96716395 BTC and 742.45585454 XCP
In other words, JahPowerBit will receive 60% of the bounty funds, and btcfanatic will receive 40% of the bounty funds. JahPowerBit has demonstrated enthusiasm and initiative, and has made a functioning web GUI. He has also detailed his plans for the future, and has recruited other community members to help him achieve the goals he has set out. JahPowerBit's GUI has wider functionality than btcfanatic's, but btcfanatic's architecture was more what we had in mind. With that said, we imagine users will have a harder time getting btcfanatic's GUI to work than JahPowerBit's. While both GUIs are cross-platform, they lack build systems for Windows. Going forward, this is very important. We strongly encourage the community to get involved: test out the GUIs, interact and collaborate with the developers, and give them feedback. Counterparty is a community driven project, and will progress most effectively if the community works together. Thanks very much to both JahPowerBit and btcfanatic for participating in the Desktop GUI bounty, and helping the Counterparty protocol become more user-friendly. And thanks to the community for providing donations, to help motivate developers. We are discussing further bounties which should leverage what has been achieve with the desktop GUI bounty. Please stay tuned. btcfanatic and JahPowerBit, please email your addresses to < bounties@counterparty.co>. This is cross-posted from the bounty thread on the official Counterparty forums. EDIT: Of course, here are the GUI submissions: If anyone figured out how to get this working on Windows. Please, post instructions. |
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was the bug actually fixed with the 0.6 client?
and the only remaining problem is that funds might have been lost from poloniex?
does onyone have a quick answer here? Yes |
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impressive data in terms of how you collected avg. price points daily though as we see gox is not much suitable for the price, perhaps it should be switched to stamp(or better start weighting price from some point, like November or someting, with decreasing role of Gox) ? Just to clarify, it's not my chart and I'm not the one updating it, I just stumbled upon it in a tread somewhere, bookmarked it, and remembered it now and thought I should share it with you. The logistics model was created by "SlipperSlope", he has another thread on this as well. |
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When I make a send, its saying insufficient bitcoins need ~0.0003172
and I have 0.0011 on the address.. whats the deal is that not enough ?
After you make a send operation. You need to wait for one confirmation(waiting for the change will be sent back to your address). , before you can send again. |
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If anyone feels like helping me out. I'm completely out of bitcoin as every millibit went into XCP. But now I need Bitcoin for transactions fees... -____- If you can send me like $5 worth of bitcoin I'll gladly send you 2 XCP 12aXShqo2UiALhYTejR72ZdeiSL7ThEkpc , I will PM you my address. |
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Update.
The trades have been rolled back and all XCP orders have been cancelled.
The total XCP missing from the wallet--from people who bought from the dump and made hasty withdrawals--is about 7,000 XCP. I think it is a matter for the community how we want to deal with this. Do we all want to contribute? Should everyone's balances be taxed? Does everyone think this is all my fault and I should pay it out of pocket?
Because this XCP is missing from the wallet, I'm not sure I can turn withdrawals on yet, and until XCP is really verified secure, I can't turn the exchange on. If the exchange isn't on, then I doubt people would really care to keep their XCP in their Poloniex account, and if everyone withdraws, some people at the end are going to be stuck with that missing 7,000 XCP. So I guess we need to decide about this as soon as possible.
The BTC has not been returned yet, but I still have reason to believe that it will be. The attacker has found some other issues with XCP, including one that PhantomPhreak fixed before the attacker reported it and some others that have not been verified yet. The attacker seems intent on the success of XCP and also has opinions about the rollback, and seems to be withholding the BTC pending certain fixes. I have asked for final word on when the BTC will be returned, what he is waiting for, and he should respond by tomorrow. He has been very communicative and has been continuing to search XCP for security flaws--not really the profile of a thief.
Maximum daily withdrawal limits have now been implemented on all coins. For BTC, it is 50. Other security measures will come, and more coins will be moved to cold storage. (The majority of the BTC was in cold storage before any of this happened.)
I expect everything will return to normal in a few days, but I don't have anything definite yet. I'll keep everyone updated as I learn more. Realistically, I could just resume operations now, but I don't think that is wise or fair.
The loss of 7000 XCP can be spread across all accounts with XCP balance in Poloniex. Assuming the balance in Poloniex account is 45,000. This would be 15%. We can go the donation route, but doubt it will raise more than 1000 XCP. |
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So, there is theoretical basis for a 100X return or higher.
It's also theoretically possible that Bitcoin protocol changes, rendering Counterparty dysfunctional. Such is the problem of a "coin" without a block chain. What if BTC didn't change, but Litecoin, or some other coin takes over, and people stop using BTC? There's all kinds of things that can go wrong. It is possible to implement the Counterparty protocol on top of other Proof of work, AltCoin block chains (there is some further info on the counterparty FAQ on this). Yes, there is always a risk. However, one is better of investing in a distributed market for financial instruments and derivatives, rather than the next clone of catcoin. |
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Counterparty Valuation
Counterparty has an inbuilt platform for trading assets and issuing stock, dividends.
Market cap of all companies listed on
NASDAQ: 4.4 Trillion
NYSE: 14.2 Trillion
Assuming 10 years in the future 10% of those stocks are traded on Blockchain based platforms.
That would put 1860 Billion being traded on top of these platforms. (This is the networth of all the stock). However, the platform itself will only capture a portion of this networth.
Assuming 1% is captured by the platform -> that would make it 18.6 Billion.
Let's say there are other competitors and conterparty only captures 20% of the this market -> 3.7 Billion.
Right now the market cap of Counterparty < 30 Million.
So, there is theoretical basis for a 100X return or higher.
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There is an order on the DEX to buy at 0.009 and two order to sell at the same price. Any idea why these haven't been matched? Thanks!
Check the fee required, for the sell order. |
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Was it mentioned if the hacker/white hat was going to return the BTC that they withdrew?
If they don't return that BTC, Poloniex would be out of pocket in a huge way.
I hope we can pull together an adequate bounty for the white hat such that they will return all BTC.
He said he would, but I haven't heard from him since he explained the vulnerability. My guess is he is waiting on the block chain rebuild to see where he stands with XCP. If all the XCP gets returned to the Poloniex account, then the dump will stand, and he can keep the BTC. If not... then let's hope he returns it, and I'm going to have to roll back some trades. a) It doesn't make sense to forcefully take the users XCP, and sell it at 0.002 , when they never intended to sell it at that price. b) The 35k XCP also includes XCP from users who purchased them on previous day and are holding them at exchanges. |
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No, just go ahead and "Build and run from source". |
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Those 35K coins, were the XCP deposits in Poloniex central account. The white hat hacker, withdrew these coins from the central address and deposited it back to Poloniex and sold then on the exchange for a low price.
The order depth in Poloniex was around 100 BTC. So, the hacker took these BTC, but left some of them in the exchange.
And what happens from here? The white hat will return both XCP and BTC back to Poloniex? The white hat return the XCP to Poloniex. The BTC is still under discussion. It depends on the benevolence of the hacker. Also, the protocol has been patched, re-indexing the database and resetting the XCP from the transactions. The same cannot be done for BTC. |
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What up with the massive dump ?
But still i dont understand where that 35k coins come first to Polo..? Those 35K coins, were the XCP deposits in Poloniex central account. The white hat hacker, withdrew these coins from the central address and deposited it back to Poloniex and sold then on the exchange for a low price. The order depth in Poloniex was around 100 BTC. So, the hacker took these BTC, but left some of them in the exchange. |
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In my opinion we should wait until coin is ready and announce IPO after its ready.
Yes, product first then IPO. |
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Maybe one address for this white hat and then one address for future bounty if someone find big bug that amount can turn black hat to white hat.
Yes, agreed. Two addresses. |
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Just a reminder to people, who haven't seen the previous posts. Please, upgrade. |
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Everyone capable of reading the code, please assist the developers with code review and security review.
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> rolled XCP balances back Is that unclear about when it's rolled back to or perhaps which block?.. Can we trust http://www.blockscan.com to confirm current balances?? Blockscan is being reindexing the database as we speak. |
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Thanks this will be useful. |
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Do you guys think it's safe to leave a decent chunk of XCP sitting on poloniex for a couple weeks, so it's ready to sell if I like the price?
Is it still taking 1.5hr to deposit there?
I don't want to miss out on another chance to sell some at .027 BTC/XCP. But, I also don't want to lose a decent chunk of XCP due to exchange issues.
As with any exchange (including MtGox and BTC-e) do not leave large amounts of funds in there. Send in increments whenever you need to. |
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