It would be great application, if we can make bets on the future price of Bitcoin.

For Example:
1. Price Feed for BTC
2. A betting system that can be used to sell future options/contract in BTC.
e.g., If BTC price is less than XXX, you win so much.

This way you can hedge your position in BTC. If BTC price goes up, you make money from your holdings. If it goes down you can offset some of it using the winning of the bet.

This type of functionality will be enabled as part of the Account Control feature, ETA April.

Interesting to see so much supply on the block scanner.  ~11000 XCP for sale, against ~300 on the bid.  Both camps are greedy.

The thing is that XCP has already been pretty seriously stress tested (in fact, I alone probably broke the network 3-4 times already), and even in alpha state, does work (without anyone's XCP going into a black hole so far). This is undoubtedly due to the massive amount of feedback in this thread.

And about the whale; If I burned 50 grand, I'd at least want something back to recoup my costs (which looks to be what's happening here) no matter how I feel about the project. And 7-8 times over the burn price isn't exactly crashing. In reality, I probably burned less BTC than most people in this thread (simply because I don't have much to begin with). A lot of my cold storage went into this project.

Let's be clear: Counterparty is not yet anywhere near 100% reliable. The basic protocol, however, is, yes, unambiguous, if for no other reason than that it has a reference implementation.

Nxt Ad Server
I've been talking to people at inclick.net about integrating Nxt support into their ad server.  The are saying they would be willing to add such support for the right price, which is to be determined. I wanted to throw the idea out there to see what the community thought.

Money flows through the Network as Nxt
The idea would be that advertisers would load their accounts with Nxt, and would be willing to pay X cents per click on their ads, we'd likely measure the ad prices in dollars and convert the fee for now due to price stability concerns but send the appropriate number of Nxt from the advertiser to the publisher upon someone clicking on an ad, and using inclick.net, the ads are contextual and try to match what is on the page, similar to Google Adsense.

Forgers are rewarded anytime someone clicks on an ad
Where it gets cool in my opinion is that anytime someone clicks on an ad, we would take some profit from the money going from advertiser to publisher and split it between the company and the current Nxt forger.  Meaning increased and hopefully more consistent amounts made by forgers.  We would need to be able to support payments smaller than 1 nxt to the forgers as this would likely be less than 1 Nxt that we could afford to give away per click but I'm sure that would be worked out with the Nxt team if we are offering to 'give away' free Nxt.

Share Ad Revenue with people who share your article and therefore send you 'free' traffic
The other cool and unique feature is that we would allow people showing our ads to add a little button similar to a 'share on facebook' button, this allows people to share a link to this website that is displaying the ads, probably within an article and in exchange they too would split the money the publisher earns for any ad clicks generated by traffic sent by the person sharing the website. So for example Bob links to Alices article. If Charlie reads Bob's article, clicks on the link, then clicks on an ad on Alice's website, even on another page, Alice and Bob split the money earned by that click.  I think this is a cool idea by itself, I've spent some time analyzing that business and think it has potential by itself. The advantage is that by using Nxt to pay for shares, we can both get Nxt in the hands of many new people but also eventually have lower transaction fees than fiat and work with micro-transactions easier.

A few example scenarios where this second feature would be appreciated:
-Someone shares a link to a cool website on twitter and earns money by sharing pages that contain our ads, especially if they had a large enough following.
-Someone would like to quote an article within their own article and they get an extra thank you for it, meaning they'll prefer to use links to sites showing our ads, which will get increased traffic.
-Include 'interesting articles' link boxes contextually matched to the website, send traffic to other websites and get paid when they receive clicks on their ads

Final thoughts
I've worked through the math myself and am satisfied that if people were researching a certain topic and came across a website using our 'Earn Nxt for Sharing' System, it would be worth their time to use our links instead of others and could increase the money made by an online article by at least 10%, possibly 20% as opposed to linking to sites that don't use our ads.  Happy to share that math here.

We could seed the ad network using affiliate ads from a place such as commission junction to solve the chicken and egg problem of getting such a network started and initially primarily look for publishers.


What do you think about this idea?

So the question I'd like to know is, how do people feel about this idea?  Agree it's worth the time and money to get it up and running? Currently just testing the water before pushing forward with this.

After much searching, I'd say either going with them of the open source 'Revive' ad network seems like the best choice to me.  using revive would allow easily displaying Google Adsense ads through them and be open source, which is always nice.  Inclick on the other hand claims to prevent people trying to game the system and make fraudulent clicks, which I would consider necessary and seems better developed to me.

I have some money I'd be willing to put toward this idea but I'm sure not enough to finance inclick integrating all of this, if there would be a bounty on such an idea would it be possible to get something in advance, perhaps sent directly to the inclick.net staff to pay them to integrate this?  They say they are willing to do the integration and that the only way to get Nxt to flow through the system is for them to do it.  Again, price is to be negotiated, possibly getting multiple quotes depending upon which features were initially integrated.  Once set-up, I'd be happy to admin the site if I could negotiate a salary/percentage of revenue earned for admining the website. The rest would flow to the investors who make this project possible and the forgers.

Perhaps ideally a decentralized version of this could eventually be run by the Nxt network making the forging fees a little bit more natural but for now it would be centralized.  They already intend to eventually add decentralized file storage which would be useful.  From an advertisers point of view, one plus for decentralizing would be potentially more ads would get through ad-block like systems since they are served by different IP addresses.

If the transactions are not parsed in a very well-defined order, then address balances quickly become totally unreliable.

Oh right, I forgot about that.. Yes, every Mastercoin transaction sends about six US cents to JR, who holds the private key to the Exodus address, completely unnecessarily.

Having a separate btcpay command basically gives the buyer of XCP an option on the price of XCP until expiration of the order-match.

Here's a simple scenario where the buyer wouldn't want to do the corresponding btcpay.

1) Buyer buys 100 XCP for 1 BTC. Order is matched with expiration of 10 blocks.
2) A new seller submits an order to sell 200 XCP for 1 BTC in the next block.

Buyer now has the option of hitting the new order and letting his first order expire.

/flamewar commence

Doesn't MasterCoin mandate a fee that gets sent to 1Exodus for each transaction on top of the BTC miner fee?

That design decision fits perfectly with MasterCoin's philosophy of centralization and rent-seeking...which makes me uneasy about it. I'm sure many others feel the same way.

IIRC the first 10 pages in the original MSC thread were about how much money everyone needed to give JRWillet so he could convince his wife to let him have 2 hours a week to work on the project. Several other times he implied that he was the "owner" of 1Exodus. Others had to remind him the coins in 1Exodus belonged to the MasterCoin community.

The strongest point that XCP has over MSC is that nobody received any BTC during the creation of XCP. The only people who become millionaires from XCP will get there with XCP, not donated bitcoins.

In terms of technical advantages we will have to wait for MSC code to actually be completed.

Also, I'd like to suggest that we all move over to the nxt forum n post there to show some activity n not have it look like a ghost town.  It doesn't make any sense to "market" n "promote" nxt but put in all the work n effort on a btc forum.

Either the developers or the marketers have to take initiative to make the move... we can't keep asking the nxt developer community to move over when we ourselves are still here. Since we are a smaller group (but have a big impact on nxt) I suggest we make the move over to the nxt forum first n set the pace for the rest of the nxt community to follow.

If we keep posting here.. there will be no reason for people to switch over n start to develop the nxt forum.

People don't like change... so as long as we continue to post here... there is no reason for the nxt community to migrate to nxt forum.

I don't care which nxt forum, just pick one or vote on one n we all move.

I suggest nxtcrypto.com so there is no conflict of interest with the dgex exchange.

Tai Zen

Pretty self explanatory.

Server is to start the counterpartyd server

Send is to send any assets, just fill in the fields appropriately depending on what asset you want to send.

Order is to make an order on the exchange, depending on what you want. Expiration is number of blocks. Fee is idk but I set it to 0.001

Btcpay is for when your order matches up and its time to send BTC payment if your buying XCP. In the field, enter both the hashes of the orders being matched up.

Cancel is to cancel your order.

I don't want to start a flame war, but this is a legitimate question.

There are lots of medium-sized technical advantages of the Counterparty protocol, but the most important advantage, IMHO, is just that it is much simpler and more straightforward. For one, this means that there will never be any question of what constitutes a valid Counterparty transaction, whereas Mastercoin is still working on this problem, many months in. Then there's the issue of parsing of transactions, and the order in which they're considered, which they have hardly even touched on yet, and which constitute a much greater technical challenge. (Their early efforts implementing a distributed exchange, for instance, are very much overcomplex, too.) They will never be able to duplicate this, for backwards-compatibility, with anything less than a full shutdown of the network and a transfer of balances to a new protocol.

I don't want to start a flame war, but this is a legitimate question.

There are lots of medium-sized technical advantages of the Counterparty protocol, but the most important advantage, IMHO, is just that it is much simpler and more straightforward. For one, this means that there will never be any question of what constitutes a valid Counterparty transaction, whereas Mastercoin is still working on this problem, many months in. Then there's the issue of parsing of transactions, and the order in which they're considered, which they have hardly even touched on yet, and which constitute a much greater technical challenge. (Their early efforts implementing a distributed exchange, for instance, are very much overcomplex, too.) They will never be able to duplicate this, for backwards-compatibility, with anything less than a full shutdown of the network and a transfer of balances to a new protocol.

Theres going to be a deluge of high quality software releases coming from the mastercoin front in the next 6 weeks or so.