[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread

[halfcab123]

Wouldd it even be possible for this coin to get those kind of returns like Mastercoin. I was under the impression it wouldn't be

[1714179486]

1714179486

[mtbitcoin]

I've got like 6,700 XCP on 5 different BTC addresses -_____-
Can someone please tell me how to consolidate this ?

Why would you do that? isn't more secure have them all separately?

alternatively You can simply give me all yours private keys to these addresses and I will look after consolidation

In theory, you can use the send command from Counterparty client to consolidate all your balances

Cheers

Is there any advantage of this?

The advantages/disadvantages are as the same as consolidating your coins in Bitcoin.

However, I see someone has already done it as we have a new RICH XCP address at http://blockscan.com/balance.aspx  

[halfcab123]

I got like 8k XCP right now, considering getting some more. I like this project

[BitThink]

Wouldd it even be possible for this coin to get those kind of returns like Mastercoin. I was under the impression it wouldn't be

More people burn now means less chance to get more than 10x return like Mastercoin in short time.

Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.

For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.

Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).

[mtbitcoin]

Wouldd it even be possible for this coin to get those kind of returns like Mastercoin. I was under the impression it wouldn't be

More people burn now means less chance to get more than 10x return like Mastercoin in short time.

Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.

For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.

Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).

+1 summed up well.. Which is why I mentioned that anyone expecting jumps  like MSC (or quantum leaps like NXT)  would be disappointed

[doitnow]

I've got like 6,700 XCP on 5 different BTC addresses -_____-
Can someone please tell me how to consolidate this ?

Why would you do that? isn't more secure have them all separately?

alternatively You can simply give me all yours private keys to these addresses and I will look after consolidation

In theory, you can use the send command from Counterparty client to consolidate all your balances

Cheers

Is there any advantage of this?

The advantages/disadvantages are as the same as consolidating your coins in Bitcoin.

However, I see someone has already done it as we have a new RICH XCP address at http://blockscan.com/balance.aspx  

You shouldn't compare these two at that early stage. Counterpartyd hasn't been tested well (yet).  Would you put all your stash on one address knowing that system may not be stable enough? (At this point)

[tangboysomeone]

 
I install the installer in win7 64bit.
When i ran the command counterpartyd server,
when the blocknum reach 280518
i got such problem

Status: RESTART
Block: 280518
Traceback (most recent call last):
  File "C:\Python33\lib\site-packages\cx_Freeze\initscripts\Console3.py", line 2
7, in <module>
    exec(code, m.__dict__)
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 621, i
n <module>
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 479, in f
ollow
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 472, in f
ollow
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 57, in pa
rse_block
  File "C:\counterpartyd_build\dist\counterpartyd\lib\issuance.py", line 103, in
 parse
  File "C:\counterpartyd_build\dist\counterpartyd\lib\util.py", line 148, in cre
dit
AssertionError

anyone know

[mtbitcoin]

You shouldn't compare these two at that early stage. Counterpartyd hasn't been tested well (yet).  Would you put all your stash on one address knowing that system may not be stable enough? (At this point)

There is already "burning" service ongoing and how do you think the coins are getting "send"? 

The risk of the "send" command is no greater than burning your coins via the blockchain (at this point)

[halfcab123]

anyone care to help a noob use the send command?

[halfcab123]

im thinking 1 xcp should at least get to the 3 - 4 mBTC range

[BitThink]

im thinking 1 xcp should at least get to the 3 - 4 mBTC range

Your want it to be or you think it will be? If latter, may I know your reason?

EDIT: it's a honest question. I really want to read some analysis with data. Something like how many new IPOs per month in Havelock, how many new bets in bitbet and how much XCP it needs if we have similar popularity.

[PhantomPhreak]

Hi PhantomPhreak/xnova

I have noticed that duplicate ASSETs were allowed to be created. Please see http://blockscan.com/asset.aspx.

You will notice that the duplicate asset names for "SPACE" and "NEXT" both were created by the same issuer.  Wouldn't this lead to confusion?

Cheers

Those aren't duplicate issuances, but rather cumulative (with a max of 2^63 - 1).

EDIT: I just tweaked this.

[sumantso]

im thinking 1 xcp should at least get to the 3 - 4 mBTC range

Your want it to be or you think it will be? If latter, may I know your reason?

He is just hoping I guess. I will start doing the same too once I have burned my BTC.  By the time burning is over, there may be 3-4 million XCPs so I doubt there will be an immediate price hike. I do like it coz the devs seem to be approaching the right way (unlike NXT or MSC).

It was working fine yesterday. However, today it refused to run claiming some module is missing so I deleted everything and starting from scratch. I am a total noob here too and thanks to all who kept replying and helping me set it up.

EDIT: When I send from the command line, it just says from address and amount. Where is the fee?
EDIT2: Its not running. Says Import Error: No module named 'apsw'
           Btw, how do you copy from cmd? Its a pain typing in errors manually in here.

[BitThink]

Hi PhantomPhreak/xnova

I have noticed that duplicate ASSETs were allowed to be created. Please see http://blockscan.com/asset.aspx.

You will notice that the duplicate asset names for "SPACE" and "NEXT" both were created by the same issuer.  Wouldn't this lead to confusion?

Cheers

Those aren't duplicate issuances, but rather cumulative (with a max of 2^63 - 1).

If Issuance takes only a small mining fee, is there a possibility that some malicious users may abuse it?

[BitThink]

im thinking 1 xcp should at least get to the 3 - 4 mBTC range

Your want it to be or you think it will be? If latter, may I know your reason?

He is just hoping I guess. I will start doing the same too once I have burned my BTC.  By the time burning is over, there may be 3-4 million XCPs so I doubt there will be an immediate price hike. I do like it coz the devs seem to be approaching the right way (unlike NXT or MSC).

It was working fine yesterday. However, today it refused to run claiming some module is missing so I deleted everything and starting from scratch. I am a total noob here too and thanks to all who kept replying and helping me set it up.

EDIT: When I send from the command line, it just says from address and amount. Where is the fee?
EDIT2: Its not running. Says Import Error: No module named 'apsw'
           Btw, how do you copy from cmd? Its a pain typing in errors manually in here.

Right click and choose 'mark', then you can mark the part you want to copy.

[sumantso]

im thinking 1 xcp should at least get to the 3 - 4 mBTC range

Your want it to be or you think it will be? If latter, may I know your reason?

He is just hoping I guess. I will start doing the same too once I have burned my BTC.  By the time burning is over, there may be 3-4 million XCPs so I doubt there will be an immediate price hike. I do like it coz the devs seem to be approaching the right way (unlike NXT or MSC).

It was working fine yesterday. However, today it refused to run claiming some module is missing so I deleted everything and starting from scratch. I am a total noob here too and thanks to all who kept replying and helping me set it up.

EDIT: When I send from the command line, it just says from address and amount. Where is the fee?
EDIT2: Its not running. Says Import Error: No module named 'apsw'
           Btw, how do you copy from cmd? Its a pain typing in errors manually in here.

Right click and choose 'mark', then you can mark the part you want to copy.

Neat

Well, heres the error then:

C:\counterpartyd_build>C:\python33\python.exe run.py
Traceback (most recent call last):
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 11, in
 <module>
    import apsw
ImportError: No module named 'apsw'

[sixteendigits]

im thinking 1 xcp should at least get to the 3 - 4 mBTC range

Your want it to be or you think it will be? If latter, may I know your reason?

EDIT: it's a honest question. I really want to read some analysis with data. Something like how many new IPOs per month in Havelock, how many new bets in bitbet and how much XCP it needs if we have similar popularity.

It needs none of those things to go that high or higher.  All it needs is a whale who burned hundreds of BTC to corner the market and a trollbox screaming about the latest and greatest thing you must buy!!  Seriously, the market cap of most crytpo assets are inflated and manipulated.  Mark my words, the second there is an easy to use, bug free windows client and the burn period has ended, you will hear nothing but "XCP to the moon!!" for weeks in the trollbox, wouldn't surprise me if it hit .01 BTC

[qtgwith]

Agree!!!:

More people burn now means less chance to get more than 10x return like Mastercoin in short time.

Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.

For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.

Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).

[mtbitcoin]

Hi PhantomPhreak/xnova

I have noticed that duplicate ASSETs were allowed to be created. Please see http://blockscan.com/asset.aspx.

You will notice that the duplicate asset names for "SPACE" and "NEXT" both were created by the same issuer.  Wouldn't this lead to confusion?

Cheers

Those aren't duplicate issuances, but rather cumulative (with a max of 2^63 - 1).

EDIT: I just tweaked this.

Noted. Any updates on when the "ImportError: No module named 'apsw'" issue will be fixed?

[NewLiberty]

Agree!!!:

More people burn now means less chance to get more than 10x return like Mastercoin in short time.

Also this may indicate a broader adoption, and greater implementation depth.
Scarcity is less important than utility when assessing value.