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

[520Bit]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

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[qtgwith]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!

[qtgwith]

If the project failure,the value of XCP is 0. No matter how many bitcoins have been burned.

[520Bit]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!

The market is 1XCP=0.00083BTC now, what if 1XCP=0.01BTC in the future? Is it worth?

The project will never fail, trust the team and all the participants.

[BitThink]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

No, the value of XCP relies on how many people need it. It's not a store of value itself. If it is not useful, then it is worthless. It does not matter how much BTC was burnt for it.

How much BTC was burnt only generates the supply, and there has to be the demand in the other side to finalize the price of XCP. XCP works as a currency in its own system, the counterparty exchange. Therefore, the counterparty exchange has to attract a lot of users before XCP becomes valuable.

You can create a burn address by yourself, and burn millions of BTC to generate 1 DIAMOND, and still this DIAMOND is worthless because no one needs it.

[520Bit]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

No, the value of XCP relies on how many people need it. It's not a store of value itself. If it is not useful, then it is worthless. It does not matter how much BTC was burnt for it.

How much BTC was burnt only generates the supply, and there has to be the demand in the other side to finalize the price of XCP. XCP works as a currency in its own system, the counterparty exchange. Therefore, the counterparty exchange has to attract a lot of users before XCP becomes valuable.

You can create a burn address by yourself, and burn millions of BTC to generate 1 DIAMOND, and still this DIAMOND is worthless because no one needs it.

I can't agree more. So let be working hard to make the project to be successful. And I believe if the original developers can't afford the further development, there will be another team to take over the project. Because this is a half-success project now, no one want to see the failure of this project. Of course all of us here will promote XCP by faucet or some other ways.

[BitThink]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!

The market is 1XCP=0.00083BTC now, what if 1XCP=0.01BTC in the future? Is it worth?

The project will never fail, trust the team and all the participants.

You created a new account here just to create these posts? I myself is a XCP investor, but I don't think this kind of words is helpful to this project. When you introduce a project to a potential investor, it's essential to warn them the risks and also give them the reasonable prediction of the ROI. I will never trust a project that 'will never fail'.

Now you seems don't quite understand where the value of XCP come from, and if you really believe what you said, I suggest you to take better care of your BTC. Don't do something as silly as me did in BTC investment and lost more than half of my BTC holdings.

[BitThink]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

No, the value of XCP relies on how many people need it. It's not a store of value itself. If it is not useful, then it is worthless. It does not matter how much BTC was burnt for it.

How much BTC was burnt only generates the supply, and there has to be the demand in the other side to finalize the price of XCP. XCP works as a currency in its own system, the counterparty exchange. Therefore, the counterparty exchange has to attract a lot of users before XCP becomes valuable.

You can create a burn address by yourself, and burn millions of BTC to generate 1 DIAMOND, and still this DIAMOND is worthless because no one needs it.

I can't agree more. So let be working hard to make the project to be successful. And I believe if the original developers can't afford the further development, there will be another team to take over the project. Because this is a half-success project now, no one want to see the failure of this project. Of course all of us here will promote XCP by faucet or some other ways.

Yes, this make sense. More investors means larger the community and if organized properly, the power of the community can be huge. For example, blockscan.com is developed outside of the original developer team.

[520Bit]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!

The market is 1XCP=0.00083BTC now, what if 1XCP=0.01BTC in the future? Is it worth?

The project will never fail, trust the team and all the participants.

You created a new account here just to create these posts? I myself is a XCP investor, but I don't think this kind of words is helpful to this project. When you introduce a project to a potential investor, it's essential to warn them the risks and also give them the reasonable prediction of the ROI. I will never trust a project that 'will never fail'.

Now you seems don't understand where the value of XCP come from, and if you really believe what you said, I suggest you to take better care of your BTC. Don't do something as silly as me did in BTC investment and lost more than half of my BTC holdings.

All the investment have risk, I would suggest people do not invest more than they can really afford to lose. For XCP, I think it is a long term investment. For short term case, XCP is not a good one. If XCP is attractive enough to let people burn/destroy 1000000 BTC or more, the situation will be different. But the bitcoin protocol is still there, the application will not vanish.

[halfcab123]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

No, the value of XCP relies on how many people need it. It's not a store of value itself. If it is not useful, then it is worthless. It does not matter how much BTC was burnt for it.

How much BTC was burnt only generates the supply, and there has to be the demand in the other side to finalize the price of XCP. XCP works as a currency in its own system, the counterparty exchange. Therefore, the counterparty exchange has to attract a lot of users before XCP becomes valuable.

You can create a burn address by yourself, and burn millions of BTC to generate 1 DIAMOND, and still this DIAMOND is worthless because no one needs it.

While this common - sense approach to crypto currency is seemingly sound. There are hundreds of other coins that seem to show otherwise. Quite simply things are valued at what people think they are valued. It's quite quantum mechanical in nature. If several posts on this thread incorrectly poised the value to be 0.01 btc per xcp and the consensus grew on what was thought to be incorrect information, regardless the democratic and autonomous nature of consensus would put a speculative value on it. The lifespan or volatility of that value is obviously of high uncertainty as with any crypto currency ... The truth is.. you could throw the whole project away and just keep the coins on the bitcoin network and trade them as they were just a coin with no real use other than a bitcoin 1.0 type usage and yes the coin with hype could see high value. It's real world use while it can be super important to grow interest and long term stable value does not take away from the fact that the price is simply what one is willing to pay for such an item.

Considering there is a service to burn bitcoin for xcp and that 1 bitcoin gains a finite amount of xcp, well that's giving it a value .. If 1500 btc were spent on xcp then one would conclude a default 1500 btc market cap at least in pre launch ... In which case if I offered to give someone 2000 xcp for a bitcoin you could be almost sure that would be an acceptable trade. Considering some of the prices on completely useless coins .. it's just something to think about.

[brite_enclave]

Are people still able to run the client now?  Someone has issued a buy order for a non-existent asset (asset name "CREDIT") and it's crashing my client.  I've hacked out a fix, but I see at least one other person is still making orders.  Does the client still run on some other OS, like Windows?  I see that at least blockscan.com is stuck at the same place I was, prior to the buy order for a non-existing asset.

By the way (and if I'm understanding the problem correctly), if you created the buy order for "CREDIT" without first creating the asset, would you please cancel your order?  Thanks -- It's blocking trade for the rest of us.

I assume the devs will push a hotfix soon, although it does worry me a little bit that activity on the counterpartyd repo (including the dev branch) seems to have tailed off  -- and right when I was starting work on a GUI!.  Hope the large influx of capital hasn't diluted their shares to the point where they're losing interest.  This is a extremely promising project.

PS: All of you who are gleefully creating non-backed assets such as Dogecoin should just save yourself the time and read through the old Ripple forum threads -- it's all been done before and people will soon get bored and only people trading real, trusted assets will remain.  By the way, everyone who was calling for Ripple on the Bitcoin blockchain should jump on this opportunity, because this project is all the innovative features of Ripple on the BTC blockchain, plus significant additional features, all with a fair distribution.  What more could you ask for?

[ginilorenz]

The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.

I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.

The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!

The market is 1XCP=0.00083BTC now, what if 1XCP=0.01BTC in the future? Is it worth?

The project will never fail, trust the team and all the participants.

You created a new account here just to create these posts? I myself is a XCP investor, but I don't think this kind of words is helpful to this project. When you introduce a project to a potential investor, it's essential to warn them the risks and also give them the reasonable prediction of the ROI. I will never trust a project that 'will never fail'.

Now you seems don't quite understand where the value of XCP come from, and if you really believe what you said, I suggest you to take better care of your BTC. Don't do something as silly as me did in BTC investment and lost more than half of my BTC holdings.

hardy har har maties

i be had burned me 1 btc in this scallywag project twas hard as i be missin one aye and me fingers are croookeder than some of  thee biggest scammers sailing the seven seas but lest ye be thinkun to abondon ship we be headed for troublin straights soon.

me thinks some people be better at hidin thar traxx bettar den others!

 

[Bit510]

I am not a technical guy, but I know this project has a potential bump to bitcoin protocol application. We are happy to see that there are more and more bitcoin protocol application startups. Never think Bitcoin is just a kind of crypto-currency, bitcoin is more than a crypto-currency. Lots of application could be coming out above the protocol. I would like to list the potential project here:

MSC - Mastercoin, application on top of bitcoin protocol
Coloredcoins, application on top of bitcoin protocol
BTS - Bitshares, new application
NXT - Nextcoin, new application totally different than bitcoin
XCP - Counterparty, application on top of bitcoin protocol
eMu - eMunie, new application totally different than bitcoin
eTher - ethereum, application on top of bitcoin protocol
Zerocoin, new application totally different than bitcoin

If you know more, add to this thread: https://bitcointalk.org/index.php?topic=428785.new#new

[prophetx]

I am not a technical guy, but I know this project has a potential bump to bitcoin protocol application. We are happy to see that there are more and more bitcoin protocol application startups. Never think Bitcoin is just a kind of crypto-currency, bitcoin is more than a crypto-currency. Lots of application could be coming out above the protocol. I would like to list the potential project here:

MSC - Mastercoin, application on top of bitcoin protocol
Coloredcoins, application on top of bitcoin protocol
BTS - Bitshares, new application
NXT - Nextcoin, new application totally different than bitcoin
XCP - Counterparty, application on top of bitcoin protocol
eMu - eMunie, new application totally different than bitcoin
eTher - ethereum, application on top of bitcoin protocol
Zerocoin, new application totally different than bitcoin

If you know more, add to this thread: https://bitcointalk.org/index.php?topic=428785.new#new

ether is from the ground up, it is not on top of bitcoin as far as i can tell

and PTS has it's own unique blockchain using proof of momentum hashing or whatever, BTS is not even out yet and how knows when it will be out.

NXT has a gazillion clones popping up right now since the price got pumped up so damn high for adding what socio-economic value exactly?

[sixteendigits]

Are people still able to run the client now?  Someone has issued a buy order for a non-existent asset (asset name "CREDIT") and it's crashing my client.  I've hacked out a fix, but I see at least one other person is still making orders.  Does the client still run on some other OS, like Windows?  I see that at least blockscan.com is stuck at the same place I was, prior to the buy order for a non-existing asset.

By the way (and if I'm understanding the problem correctly), if you created the buy order for "CREDIT" without first creating the asset, would you please cancel your order?  Thanks -- It's blocking trade for the rest of us.

I assume the devs will push a hotfix soon, although it does worry me a little bit that activity on the counterpartyd repo (including the dev branch) seems to have tailed off  -- and right when I was starting work on a GUI!.  Hope the large influx of capital hasn't diluted their shares to the point where they're losing interest.  This is a extremely promising project.

PS: All of you who are gleefully creating non-backed assets such as Dogecoin should just save yourself the time and read through the old Ripple forum threads -- it's all been done before and people will soon get bored and only people trading real, trusted assets will remain.  By the way, everyone who was calling for Ripple on the Bitcoin blockchain should jump on this opportunity, because this project is all the innovative features of Ripple on the BTC blockchain, plus significant additional features, all with a fair distribution.  What more could you ask for?

Hoping the devs are just staying low key for now until the burn period ends, awesome that the initial distribution of XCP is so fair, but I think even they realize it got a bit bigger than they imagined!

Best way to support the devs is make a donation so they can spend more time on this project, it may be a labor of love but they gotta eat too.

Just sent over a small donation so I could see that wallet finally crack 3 BTC.  It's kinda a catch-22, more donations and community support will roll in as soon as there is at least a basic GUI, I imagine the average investor is waiting for that before they touch their XCP.  But development can only progress so fast and far as I imagine the devs can't devote their whole lives to XCP as you can only live off of 3 BTC for so long.  Here's to hoping the devs are basement dwelling neckbeards who are tirelessly working 24/7 and gonna blow our minds with something amazing as soon as the burn period ends!

[PhantomPhreak]

I assume the devs will push a hotfix soon, although it does worry me a little bit that activity on the counterpartyd repo (including the dev branch) seems to have tailed off  -- and right when I was starting work on a GUI!.  Hope the large influx of capital hasn't diluted their shares to the point where they're losing interest.  This is a extremely promising project.

I haven't had good Internet access is all! And if there're are any particular changes to counterpartyd that you'd like to see happen in the near future, let us know.

[TheMightyX]

I hate to say this after the fact, but proof of burn is a really, really, really stupid, inefficient and unproductive concept.
There are much better ways to handle proof of stake.
That money could have fed a whole village in africa for a year.
I would much rather the devs got that 1,400 BTC than it just being destroyed pointlessly.

Of course, I've said this after the fact.

[brite_enclave]

I assume the devs will push a hotfix soon, although it does worry me a little bit that activity on the counterpartyd repo (including the dev branch) seems to have tailed off  -- and right when I was starting work on a GUI!.  Hope the large influx of capital hasn't diluted their shares to the point where they're losing interest.  This is a extremely promising project.

I haven't had good Internet access is all! And if there're are any particular changes to counterpartyd that you'd like to see happen in the near future, let us know.

Excellent, glad you're here.

I really like the zmq API in the dev branch.  ZeroMQ is a brilliant piece of engineering that makes true parallelism in Python a snap. Is that going to be integrated into production?  If so, I'll use its pubsub for the GUI I'm building to get updates instead of polling the JSON-RPC API.

Also, are you drawing the line at 1 confirmation?  i.e, do you not want to show any 0 confirmation transactions?  If not, an easy and effective way in Python to signal whenever a new tx hits the network is to use one of the many implementation of ArtForz's old Python half-node, which is effectively a Bitcoin node (as you probably know).  In fact, Jeff Garzik has made this into a full Bitcoin node in PyNode.

Anyway, the asyncore imple is probably best for this project since it wouldn't introduce any external dependencies and can be used with any Python3 (asyncio/tulip is very cool but only 3.3+).  But this way, you can get notification of new 0 confirmation transactions without polling bitcoind listsinceblock, which is inefficient and cumbersome since you have to keep up with the tx's you've already processed.

This way, there's no 10 minute delay before a new tx shows up (of course, you'd need to indicate it's a 0 confirmation tx).  But I can understand if you've decided to only officially display 1 confirmation transactions.

[sixteendigits]

I hate to say this after the fact, but proof of burn is a really, really, really stupid, inefficient and unproductive concept.
There are much better ways to handle proof of stake.
That money could have fed a whole village in africa for a year.
I would much rather the devs got that 1,400 BTC than it just being destroyed pointlessly.

Of course, I've said this after the fact.

Yeah, it was a worthy experiment.  I can't imagine anyone else creating a proof of burn coin anytime soon, but thats not to say XCP can't be great, even if it's birth turns out to be an experiment that is never repeated.

Ironically, considering the atmosphere of the alt-scene at the time this was launched (ie. new IPO scams every day), XCP would probably have received a tiny fraction of the investment that it ended up getting.  So, in the end, proof of burn was necessary to get XCP to where it is at today.  So, silly to wonder what could have been accomplished with that 1400 BTC if it hadn't been burned, because if it hadn't been burned there wouldn't be anything close to 1400 BTC invested here.

[brite_enclave]

Ironically, considering the atmosphere of the alt-scene at the time this was launched (ie. new IPO scams every day), XCP would probably have received a tiny fraction of the investment that it ended up getting.

Yeah, this is the thing.  Proof of burn was one of the only avenues open to demonstrate good faith.  It's also turned out to be a nice way to distribute initial stake, even if it is a lousy way to reward creators and devs for their efforts.

I just hope this community can pull together and fund at least enough money for PhantomPhreak or xnova to work on this full-time, considering that the other competitors will have plenty of funds to pay salaries.