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Perhaps I missed something, but it seems that creating new asset costs now 0.0002086 BTC, is it correct?
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No consider the competitors, mainly mastercoin dex and colored coin, if a decent client was a few months away, this project is almost dead. The client has to be ready just weeks after the last burn day.
+1, and that exactly why we all need to push the devs via XCP donations, otherwise we may all risk burning BTC's for nothing. I for one, just waiting for an easy way to send XCP's (webwallet, rather then using counterparty and bitcoinQT), so I could donate. |
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Since Ethereum needs a re-write, how long with the launch be delayed?
Link? |
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I had initially tried to work with the QT and make it compatible with the burning client, but getting them to communicate via memory was impossible for my skill level.
What you tried to do, shared memory IPC? Both the wallet and the burning client check the blockchain to ensure that a) the wallet attempting the burn has the required amount of Level 1 coins available, b) the burn request was indeed sent, c) the correct amount of Level 1 coins was sent from user wallet, d) the correct amount of Level 1 coins was received by burning wallet, and e) the correct amount of Level 2 coins were sent to user wallet.
There are 5 confirmations for each step. The expected time for a burning process to fully complete is roughly 3 to 5 minutes.
This is reasonable, provided the whole chain is not compromised (though then it's a bigger problem). |
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Is there anyway the asset description could be written in such a way as to pull information from elsewhere, which then in turn could be interpreted by a client or HTML page to show it's full meaning for example within the asset description using something like a # followed by a letter meaning information's drawn from an external source say www.externalcounterpartysources.com. In this example #i321 could look up image 321 at the above address or #t458 could look up text. The benefit being you could then use the asset description to create a full listing on a layer above the chain like a client or webpage? Perhaps as base64 coded URL, leading to an external page? |
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I use a peer to peer network to establish security and to avoid dedicated server costs.
At the moment there are two piece of software that currently work in conjunction. First and foremost is the wallet. The wallet acts similarly to how current Proof of Work wallets work in that it used as a node hub to allow people to synchronize the blockchain. Block times are every 15 seconds and coins are generated based on holdings during this time. Both Level 1 and Level 2 balances can be viewed. The wallet is currently semi-functional (or semi-nonfunctional depending on how you want to look at it), transfers in and out do not work at the moment, which is a pretty big issue that needs to be resolved.
The second piece of software is the burning client. This client will search a computer's memory and find an active instance of the wallet and attach itself. Without the wallet, the burning client will return an error. Once the software has loaded up properly it will generate an address for which Level 1 coins will be sent to be converted into Level 2 coins. This means that there will not be a single burn address that everyone sends to, but hundred or even thousands of addresses. Once Level 1 coins are burned via the client, the client will check the blockchain and confirm the burn. Once confirmation is complete, it will send the respective Level 2 coins to whichever wallet it is attached to at the time of burning. From there the wallet takes over and begins generating Level 1 coins fractionally every 15 seconds via the blockchain.
Currently both pieces of software are coded in the C language and currently use a very ugly command prompt. I need help with the creation of a GUI as I have no experience in it. I could probably learn and do it myself, but it would delay release. There are also far too many files (over 50) that work in combination in a folder. This is messy, I would like to have two files. One with the wallet, and one with the burn client. Again my goal is simplicity, and at the moment, it is far from simple.
I hope there is a proper authentication planned between the code parts, otherwise this approach seems to beg for trojan burning all LVL1 coins. As per rapid UI toolkit, several options come to mind to keep it cross-platform: - QT
- Tkinter (Python-based)
- node-webkit (never tried this one, but could be an option)
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Direct investors will receive slightly more coin than a Kickstarter backer (roughly 10%) as well as get access to the client a couple of days before the Kickstarter campaign ends.
What about the server-side code (or it will be a part of the client)? |
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Also, what with the title: Hello [Suspicious link removed]ize] |
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You will receive everything you ask for during the Kickstarter campaign. Sit tight and wait.
So just to clarify, you pre-selling both here and on Kickstarter? Or first here then there? |
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I will be accepting BTC and LTC for the pre launch with a time frame of approximately half a month after which absolutely no additional coins will be distributed, though I reserve the right to cancel the pre-sale at any moment should I feel too many LV1 coins will be sent out.
Hmm, why I get the feeling it will be Nxt scenario all over again (but without the enormous profits this time). Why not at least having an announce that pre-sale is going to end in X hours? |
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What about some technological ability, whitepaper, code, etc...?
Despite Nxt highly concentrated start, at least there was some working prototype.
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should we have counterpartytalk forum, as msc,nxt,bitshare and ether all have their own forum
Imho for the moment it best to stay within bitcointalk, once XCP gets some traction we can indeed set a new one. |
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Preliminary analysis of Nxt code indicates the following:
Dodgy Code (87 instances)
--> Misuse of static fields - 60 times
Bad Practice (50 Instances)
---> System.exit called 18 times!
Null Pointer Dereference (2)
anyway... total of 588 bugs.
like I said... garbage.
anyway improvements are coming along!
How have you come to such numbers? Probably via static code analysis. |
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Interesting, watching  . |
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That's famous quote from the movie "Wall Street". I am just paraphrasing don't need to hide the brutal truth. hehe yeah I know...Lunch is for wimps.. Greed is a good motivator, just need to know when to stop . |
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I've read almost the whole thread and 'll try to burn my first coins today.
I intend to give 10% of the burnt BTC to the Devs if i'm successful. Everyone should give at least 1%
+1. |
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Haha, awesome ad (in style of Doge, but still). |
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Different question: Donations should promote defelopement and dont have any effect on potential ROI?
Imho the development directly influences the product value and the potential ROI. Compare this to how MSC / NXT value soars with each new progress announcement. All the rest is just a short-term speculation, that will leave many burnt (and not in the Proof-of-Burn way ). |
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I think/hope that most simply are not aware of the huge difference between burnt and donated funds. what conclusion can you draw from this for counterparty? That we all need to support the devs, if we want the project to succeed / make profit on our investments. |
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