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Author Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread  (Read 1267390 times)
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deliciousowl
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November 14, 2014, 01:08:31 PM
 #10121

First of all, that graph is a horrible simplification. Secondly, XCP hasn't seen a real sell-off yet. Only now are any people who might sell it if a hint of bad news comes establishing any sort of position. I think to this point it's been people who did their homework.

Yeah, it's true. XCP is very hodl in strong hands. A substantial amount of burned coins are still in their place.

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November 14, 2014, 01:17:05 PM
 #10122

First of all, that graph is a horrible simplification. Secondly, XCP hasn't seen a real sell-off yet. Only now are any people who might sell it if a hint of bad news comes establishing any sort of position. I think to this point it's been people who did their homework.

Yeah, it's true. XCP is very hodl in strong hands. A substantial amount of burned coins are still in their place.

I think many coins are also in hands who know what they are doing. First sellers ($25-$10) have buy with cheap price huge amount coins and they have make lot of money already and they building sell walls also...?
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November 14, 2014, 02:08:47 PM
 #10123

When will we see Ethereum's code on the mainnet? I'd like to see how it handles reorgs...
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November 14, 2014, 02:14:08 PM
 #10124

I have a basic wallet question if anyone can help. If I have an Electrum offline cold storage wallet for my BTC, can I use one of those wallet addresses for my XCP?
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November 14, 2014, 02:44:01 PM
 #10125

I have a basic wallet question if anyone can help. If I have an Electrum offline cold storage wallet for my BTC, can I use one of those wallet addresses for my XCP?

You can use literally any BTC address as long as you know the private key (so you can import it into Counterwallet).

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November 14, 2014, 02:48:58 PM
 #10126

I have a basic wallet question if anyone can help. If I have an Electrum offline cold storage wallet for my BTC, can I use one of those wallet addresses for my XCP?

You can use literally any BTC address as long as you know the private key (so you can import it into Counterwallet).

Awesome thanks
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November 14, 2014, 03:11:43 PM
 #10127

Have Medici any public schedule yet? This year? First half in next or anything?
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November 14, 2014, 03:16:19 PM
 #10128

Have Medici any public schedule yet? This year? First half in next or anything?

Patrick Byrne is optimistic and says April, and the code will almost surely be done by then, but regulation can delay the process indefinitely. So we'll have to wait and see.

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November 14, 2014, 04:11:33 PM
 #10129

When will we see Ethereum's code on the mainnet? I'd like to see how it handles reorgs...

The contract code is totally independent of the reorg code, which does a complete reparse of all transactions each time.
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November 14, 2014, 05:11:39 PM
 #10130

The contract code is totally independent of the reorg code, which does a complete reparse of all transactions each time.

How are you going to solve such the problem (not very related to your reply but logically follows from it):

Some (most of?) contracts have state that must be stored or recomputed every time a node is launched. Recomputation is impractical for big number of active contracts, storing seems to be a better way. Storing the state locally is much cheaper than storing on the blockchain, but it means that a new node have to download the blockchain and recompute all state changes of all the contracts from the very beginning. At some point amount of computations may become very big slowing down blockchain analysis (recomputation) greatly.

Bitcoin already has the problem of ever-growing blockchain (low bandwidth problem), Counterparty adds the problem of ever-growing number of computations required for catching up the network (slow processor problem). Luckily processor speed grows faster than bandwidth but if max rate of blockchain growth is limited by 1 MB block limit, max contract complexity is not limited. A bad choice of fee for contract execution (similar to gas in Ethereum) may make it cheap to create such contracts that won't allow to compute them with the rate of 10 min/block. In this case we will observe "black hole" effect, blocks will be generated faster than analyzed and new nodes (and existing ones) won't be able to keep up the rate.
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November 14, 2014, 05:13:21 PM
 #10131

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.


*edit* can someone explain what the "sign" a wallet functionality does? Or how that works?

"You see, you and I, we believe in life. But you want to fight for it, to kill for it, even to die--for life. I only want to live it."  (Ayn Rand)
deliciousowl
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November 14, 2014, 05:20:49 PM
 #10132

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.


*edit* can someone explain what the "sign" a wallet functionality does? Or how that works?

You can print a Bitcoin paper wallet (public and private key), and store it there.

"Sign Message" is advanced functionality of Bitcoin which allows you to sign arbitrary messages to prove to that you are (were) in control of some Bitcoin address.

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November 14, 2014, 05:23:50 PM
Last edit: November 14, 2014, 05:39:07 PM by weex
 #10133

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.


*edit* can someone explain what the "sign" a wallet functionality does? Or how that works?

I would consider Counterwallet to be safer than Bter but if you're looking to hodl, you can create a paper wallet at https://www.bitaddress.org. If you want better security, you download and run your computer from an Ubuntu live CD and run a saved copy of bitaddress.org on it. Either way, you can print or write down the address and private key pairs that bitaddress.org generates and use those to store your XCP offline (i.e. in cold storage).

When it comes to security, I believe the best advice is to learn in proportion to the amount of value you are storing. As the value increases, you may want to go further in verifying your Ubuntu CD, setting up Armory, building a shielded underground lair, etc.
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November 14, 2014, 05:37:45 PM
 #10134

what is the problem with making cold storage ?
and can use the counterpartyd to send them later
i got all my 8.9 XCP and some Folding coins i folded Smiley, together with my BTC in cold storage
i told to my grandmother that this is part of my pension fund......when im 60 i'll buy a ferrari with that ! Wink


As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.


*edit* can someone explain what the "sign" a wallet functionality does? Or how that works?

not hashing, folding and curing (check FLDC merged-folding! reuse good GPUs)
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November 14, 2014, 05:40:45 PM
 #10135

I'm reading some about this - I like what you guys are doing thus far!

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November 14, 2014, 05:49:16 PM
 #10136

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.

"just figure out my passphrase on counterwallet" -- assuming you are using the 12-word passphrase generated by Counterwallet when you set up your account, uh, the odds of that are astronomical.  I can't remember the dictionary that the word choices are from, but let's say that it is 20,000 words.  (I think that is close to being right.)  Choosing 12 words from that 20,000 word dictionary gives a total of 8x10^42 possible combinations.  If someone were to try 1,000,000 combinations per second, it would take 2.5x10^29 years to go through all of the combinations.  That is 1.8x10^19 times the age of the universe.

The odds of a counterwallet passphrase being brute-force discovered are roughly the same as any Bitcoin private key being brute-force discovered.

BTC/XCP 11596GYYq5WzVHoHTmYZg4RufxxzAGEGBX
DRK XvFhRFQwvBAmFkaii6Kafmu6oXrH4dSkVF
Eligius Payouts/CPPSRB Explained  I am not associated with Eligius in any way.  I just think that it is a good pool with a cool payment system Smiley
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November 14, 2014, 05:57:04 PM
 #10137


The odds of a counterwallet passphrase being brute-force discovered are roughly the same as any Bitcoin private key being brute-force discovered.

Indeed this is not what to worry about.  What to worry about, are trojans, rootkits, keyloggers, screen scrapers, nosy coworkers, etc.
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November 14, 2014, 06:00:14 PM
 #10138

Counterparty Development Update #2: 'no-fee' asset names, new counterpartyd version, ethereum updates, multisig and more: http://counterparty.io/news/counterparty-development-update-2/

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November 14, 2014, 06:21:59 PM
 #10139


I didn't notice this CounterParty github until last night  https://github.com/CounterpartyXCP/counterwallet

I git cloned it and performed the steps to install (via npm) and aside from creating an account at transifex.com (for downloading the translations files), the installation was successful.  I just don't know how to access it now   Grin

I want to run a local copy of the https://counterwallet.io    on a local computer (inside my LAN) that won't be published outside by my router.

  • 1.  Do I just put the above on an apache server (on my laptop or even a separate computer/server)?
  • 2.  Will it connect to the network or do I need to run a counterpartyd and bitcoind node (I have one running now)?

Thank you!

halu
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November 14, 2014, 09:31:13 PM
 #10140


I didn't notice this CounterParty github until last night  https://github.com/CounterpartyXCP/counterwallet

I git cloned it and performed the steps to install (via npm) and aside from creating an account at transifex.com (for downloading the translations files), the installation was successful.  I just don't know how to access it now   Grin

I want to run a local copy of the https://counterwallet.io    on a local computer (inside my LAN) that won't be published outside by my router.

  • 1.  Do I just put the above on an apache server (on my laptop or even a separate computer/server)?
  • 2.  Will it connect to the network or do I need to run a counterpartyd and bitcoind node (I have one running now)?

Thank you!

I think you also need to run counterblockd but yes it should all work.

Cool. Thanks for the counterrblockd info.


halu
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