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Haven't posted here in a while. Real life takes its toll. Lots seem to be going on after the mainnet launch.
Since everything appears to be fine, I'll step out again.
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If BTC reveals to be not so "XCP friendly", why not changing ?  Would the protocol easily work with litecoin-qt and litecoin's OP-return ?? Sorry for this so blasphematic remark, I have low technical skills, so excuse me if it is a very bad idea for the protocol. Disclaimer : I am NOT a LTC holder and fan. LTC is just the natural competitor at the moment, with ATM, exchanges, high hashrates... If I understand correctly, since Litecoin is a fork of bitcoin its a few versions behind and does not support OP_RETURN yet. Well, say LTC want to beat bitcoin by being LTC 2.0 friendly, they allow 120 bytes on OP_RETURN, can we just put the real data on LTC chain and put the hash of it on BTC, this way we would have a reasonably secure network without requiring anyone running another alt chain from scratch, crap this might not work since we have to spend both BTC, and LTC to send a XCP tx... Sounds to me like whats happening here is, after seeing the incredibility of Counterwallet, the elephant in the room is this daunting 10+ minute time between trades. Its something that we all knew about, but it didn't become painfully obvious until we experienced that wait time in conjunction with a beautiful UI. It's almost like having 1,000 Horsepower Corvette, with 8 inch plastic wagon wheels made my Tyco. I think the thing that is going to have to happen to make this situation more attractive is we're going to have to implement some kind of progress tracker for confirmations... either that or move to another block chain that has a super high hash rate like Bitcoin, but a much faster block time. EDIT: Could we have 3rd party projects to apply Counterparty to all other coins protocols that are applicable and then Counterwallet can allow asset issuers to pick which block chain they want to issue on with Counterparty ? That'd be neat. I'm thinking in imagination land right now, but that sounds cool. So say you wanted to issue on Bitcoin and Litecoin, you'd have to send a BTC tx and LTC tx to store the tx in both block chains, or possibly other ones if you've issued on those others as well.. I don't know I think my idea is falling apart already haha, but I digress. Maybe this is where Ethereum comes in. eh ? How incredibly sexy would it be to be able to do what Counterwallet does with 5 - 10 sec tx times? Note testnet confirmation times are usually more painful than 10 minutes, because of the paucity of miners. While the main chain has the habit of being just under 10 minutes, due to the "growth of bitcoin" and such. |
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That's fantastic. Why not post a separate announcement thread to attract new members to the community? I was under the impression that would happen with the official release (again, few days, as we get everyone involved on the same page). There will also be an update of the first post here. |
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This looks awesome, great work. Can confirm that it works as good as it looks. We flattened out a ton of bugs this week (more to go though). |
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Quick update for others in the thread:
Counterwallet has now moved into internal testing. Plenty of things to troubleshoot ... but it does work.
No set release date yet, but it's coming.
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If physical access is required, I think it would probably be significantly easier just to take a dump of memory and try to extract keys from that.
Of course, far easier would be an unscrupulous VPS admin gaining console access (which is trivial) and dumping/deleting/whatever your VPS instance. It's elementary to log input into a console terminal, or run a process that looks for a "walletpassphrase" command, or any of several dozen other attack vectors that don't involve cache or memory sniffing. Do you trust your VPS provider?
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The only way that "anonymous" and "hardware wallet" can work is, I think, as a prepaid device. Otherwise, sending funds to it can be traced similarily to sending on any other device. So -- basically, a gift card.
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Like... can you force the mobile phone keypart to be required, and then require either the cold storage device keypart or a Bitpay keypart with a merchant keypart? I guess you could kludge something together where there are many multi-sigs and multiple ways to unlock the "master" multi-sig....?
2 out of 3 Shamir Secret Sharing with {phone, cold storage, bitpay}? This does not implicitly trust bitpay, but does trust it to spend funds to the "appropriate location". Alternatively, several sets of {phone, cold storage, merchant(n)} Most workable approach so far. |
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I think this is one of the clear cases where some sort of multisig approach makes sense.
Naively, I would think a 2 out of n (where n is a really big number consisting of "trusted" merchants) approach could work. Though this has the obvious problem of n being very big, and vulnerable to cases where one of the merchants gets compromised (the risk of which scales linerally w/ the number of merchants).
Thinking some more, there are two other alternatives:
2 out of 3 multisig, where the third is someone trusted (like bitpay) - less compromise, but more reliance on a centralized entity
2 out of n, where n is a much smaller number than above - some sort of "hierarchial" trust model, where each merchant in turn trusts n other merchants. This would be the most "ripple-like" scheme, but I'm having trouble wrapping my head around how this would work exactly.
In any case, I think multisig is a critical part of the solution.
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IMHO, but I don't perceive an "anti-marketing sentiment". More like being conservative right now to stay behind the noise of Mtgox and Auroracoin and whatever new IPO coin of the week. Once the new website design goes up, a broader community is formed, the web wallet goes up, we get the security review done, and the GUI is improved, then absolutely go all out.
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Whales are rational.
Supply and demand.
Next?
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I won't elaborate, but people should consider how long bankruptcy court usually takes (it's all there, google it) and the discounted present value of that "recovery".
On the other hand, the lack of gox coins coming in creates artificial scarcity.
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Um. Blockchain.info is not an exchange, and has no reserves (or BTC) for that matter.
/ignore rest of post.
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Lost coins could probably be modeled by exponential decay that asymptotically approaches zero. Again this is irrelevant because divisibility can be patched.
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It is (supposedly) most likely at XXX, since the client will use old coins/transactions when sending 5 BTC from XXX to YYY.
So, this means it is client dependent? I'm not convinced that this the proper way to trace "my coin" You can find out by looking at the 5 BTC transaction, opening up transaction details, and determining what transaction outputs make up it. |
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Hi, Counterparty has a functioning decentralized exchange as well as a number of other features. The project is only four months old, however, the development timeline has outpaced all other similar projects, such as Mastercoin. As of now the protocol is accessed via command line, however, Counterwallet will be released shortly and will allow users with little or no technical prowess to use the fully functioning features of Counterparty. Here is a link to the official announcement thread as well as the Counterparty forums. Announcement thread: https://bitcointalk.org/index.php?topic=395761.0Counterparty forums: https://forums.counterparty.co/index.phpNot looking to promote here, but Counterparty does have a functioning (if still alpha) implementation of a decentralized exchange (the same cannot be said of any other 2.0 coin yet, though I know several are working on similar projects). Trading bitcoin for IOUs (ala Ripple) currently has not been implemented, if for the lack of a, well, counterparty for that trade. But do take a look. |
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Depends on the exact unspent outputs in XXX, and how your client implements change.
Bitcoins don't exist as a "balance" (that's a convenience for puny humans). Everything is either a unspent or a spent output.
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