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Author Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread  (Read 1267383 times)
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PhantomPhreak
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January 04, 2014, 02:31:30 PM
 #141

Sorry, I'm totally confused now.

Can you please post the complete steps and requirements for burning?

I would like to give it a go!

I'm sorry, but it's too dangerous to accept burns from just any ol' client: counterpartyd is extremely strict when it comes to how it constructs its transactions so there is no ambiguity in how any given transaction should be interpreted. I would really like to avoid facing the problems that other projects have come up against that are a consequence of having a poorly defined protocol. The Counterparty team is working hard on getting some trusted members of the community on board who would be willing to buy XCP on your behalf. For now, if you can't get counterpartyd running yourself, you'll have to wait to invest.
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January 04, 2014, 02:35:23 PM
 #142

So we cannot use MultiBit client?

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January 04, 2014, 02:39:20 PM
 #143

How is the price determined?
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January 04, 2014, 02:42:49 PM
 #144

Sorry, I'm totally confused now.

Can you please post the complete steps and requirements for burning?

I would like to give it a go!

I'm sorry, but it's too dangerous to accept burns from just any ol' client: counterpartyd is extremely strict when it comes to how it constructs its transactions so there is no ambiguity in how any given transaction should be interpreted. I would really like to avoid facing the problems that other projects have come up against that are a consequence of having a poorly defined protocol. The Counterparty team is working hard on getting some trusted members of the community on board who would be willing to buy XCP on your behalf. For now, if you can't get counterpartyd running yourself, you'll have to wait to invest.

Umm... I can get counterpartyd running myself, no problem.

However, your posts have confused me.

I have bitcoind running, as you previously specified.

Can you please summarise what is the current procedure for burring BTC to get XCP on the main net?

Thanks!

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January 04, 2014, 02:45:38 PM
 #145

So we cannot use MultiBit client?

Sorry, no.
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January 04, 2014, 02:48:12 PM
 #146

So we cannot use MultiBit client?

Sorry, no.

So only qt in windows, right?

Too bad cause i dont have space for the whole blockchain.

Would be greatly appreciated if you provided us another option, before minimizing the reward.

Thanks

Behold the Tangle Mysteries! Dare to know It's truth.

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January 04, 2014, 02:53:28 PM
 #147


Umm... I can get counterpartyd running myself, no problem.

However, your posts have confused me.

I have bitcoind running, as you previously specified.

Can you please summarise what is the current procedure for burring BTC to get XCP on the main net?

Thanks!

Oh, I misunderstood. The instructions are in the second post in this thread. Are they not clear enough?
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January 04, 2014, 02:57:00 PM
 #148

Just woke up...wanted to test if the burn is going through now...After rebuilding counterpartyd, the burn still fails with this message,

Quote
Burn did *not* appear to be successful. Full output from Eligius: <HTML>
<HEAD>
<TITLE>Eligius - Push Transaction</TITLE>
</HEAD>
<BODY>
<FORM METHOD="POST"><TEXTAREA NAME="transaction" COLS=80 ROWS=10></TEXTAREA><BR><INPUT TYPE="submit" NAME="send" VALUE="Push"></FORM>
<BR><BR>
<PRE>
Trying to send...
array(3) {
  ["result"]=>
  NULL
  ["error"]=>
  array(2) {
    ["code"]=>
    int(-22)
    ["message"]=>
    string(11) "TX rejected"
  }
  ["id"]=>
  string(1) "1"
}
Response = 0
</PRE>
</BODY>
</HTML>

false

I assume this is still being worked on?

Didnt mean to hurry u guys...just want to make sure I can get going as soon as the update is working. Thx for being so responsive...I'm already beginning to like this team Smiley

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January 04, 2014, 02:59:31 PM
 #149

How is the price determined?

Right now, XCP are being rewarded to those that burn BTC at a price between 1500 XCP/BTC and 1000 XCP/BTC. The exact formula is:
XCP_EARNED = BTC_BURNED * (1000 * (1 + .5 * ((END_BLOCK - CURRENT_BLOCK) / (END_BLOCK - START_BLOCK))
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January 04, 2014, 03:06:35 PM
 #150

So only qt in windows, right?

Too bad cause i dont have space for the whole blockchain.

Would be greatly appreciated if you provided us another option, before minimizing the reward.

Thanks

You shouldn't actually need to download a complete copy of the blockchain in order to burn. You should be able to pass counterpartyd the flag --force and, as long as Bitcoind is running with the correct options, it will ignore the fact that it hasn't caught up with the network yet.
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January 04, 2014, 03:15:54 PM
 #151

Quote
How is the price determined?

Quote
Right now, XCP are being rewarded to those that burn BTC at a price between 1500 XCP/BTC and 1000 XCP/BTC. The exact formula is:
XCP_EARNED = BTC_BURNED * (1000 * (1 + .5 * ((END_BLOCK - CURRENT_BLOCK) / (END_BLOCK - START_BLOCK))

Thank you PhantomPhreak.  I would need both bitcoind and counterpartyd running?  It sounds like there are plans to have intermediaries do the burning for people soon so they don't have to set this up?
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January 04, 2014, 03:17:35 PM
 #152

So only qt in windows, right?

Too bad cause i dont have space for the whole blockchain.

Would be greatly appreciated if you provided us another option, before minimizing the reward.

Thanks

You shouldn't actually need to download a complete copy of the blockchain in order to burn. You should be able to pass counterpartyd the flag --force and, as long as Bitcoind is running with the correct options, it will ignore the fact that it hasn't caught up with the network yet.



That's great news!

Behold the Tangle Mysteries! Dare to know It's truth.

- Excerpt from the IOTA Sacred Texts Vol. I
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January 04, 2014, 03:17:56 PM
 #153

Just woke up...wanted to test if the burn is going through now...After rebuilding counterpartyd, the burn still fails with this message,

Quote
Burn did *not* appear to be successful. Full output from Eligius: <HTML>
<HEAD>
<TITLE>Eligius - Push Transaction</TITLE>
</HEAD>
<BODY>
<FORM METHOD="POST"><TEXTAREA NAME="transaction" COLS=80 ROWS=10></TEXTAREA><BR><INPUT TYPE="submit" NAME="send" VALUE="Push"></FORM>
<BR><BR>
<PRE>
Trying to send...
array(3) {
  ["result"]=>
  NULL
  ["error"]=>
  array(2) {
    ["code"]=>
    int(-22)
    ["message"]=>
    string(11) "TX rejected"
  }
  ["id"]=>
  string(1) "1"
}
Response = 0
</PRE>
</BODY>
</HTML>

false

I assume this is still being worked on?

Didnt mean to hurry u guys...just want to make sure I can get going as soon as the update is working. Thx for being so responsive...I'm already beginning to like this team Smiley


Yes, we're aware of this issue and working on it.
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January 04, 2014, 03:18:58 PM
 #154

Important update: Now you can use any Bitcoin client to burn BTC for XCP. Just send BTC to the unspendable addresses '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' (mainnet) and 'mvCounterpartyXXXXXXXXXXXXXXW24Hef' (testnet). Be careful not to try to burn more than 1 BTC per address. If you do, your last attempted burn will be completely invalid.

Hi PhantonPhreak

Can you clarify on the above? Do you mean that "counterpartyd.py" will now work with any Bitcoin client or are you saying that we can just send coins to the exodus address '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' from a client that we have control for?

Cheers

The latter.

So,

Do we need to make sure the coins are sent from a single address still?

Also, do we need

txindex=1
server=1

Anymore?

Can I burn from the MultiBit bitcoin client?

Thanks.


I've disabled that feature for now, as it opens up a whole can of worms. (How can Bitcoind still not have coin control?!)

EDIT: Seriously, though, sorry for the mixed messages. I was being overeager.

Neat. I only saw one transaction that was directly sent to the exodus address from a non CounterParty client

Wondering if there were any updates on the build issues on windows? Has anyone successfully build the counterparty client on windows?

Cheers

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January 04, 2014, 03:24:31 PM
 #155


Umm... I can get counterpartyd running myself, no problem.

However, your posts have confused me.

I have bitcoind running, as you previously specified.

Can you please summarise what is the current procedure for burring BTC to get XCP on the main net?

Thanks!

Oh, I misunderstood. The instructions are in the second post in this thread. Are they not clear enough?

They are OK.  I thought you had changed things in subsequent posts (e.g., with new destruction address 1CounterpartyXXXXXXXXXXXXXXXUWLpVr).

If you could, a repost or update consolidating everything would be very helpful.

Thanks!

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January 04, 2014, 03:27:03 PM
Last edit: January 04, 2014, 03:47:39 PM by xibeijan
 #156

Running  ./counterpartyd.py server

I get.

Traceback (most recent call last):
  File "./counterpartyd.py", line 405, in <module>
    util.bitcoind_check(db)
  File "/home/X/counterpartyd/lib/util.py", line 18, in bitcoind_check
    block_count = bitcoin.rpc('getblockcount', [])
  File "/home/X/counterpartyd/lib/bitcoin.py", line 36, in rpc
    response = requests.post(config.RPC, data=json.dumps(payload), headers=headers)
  File "/usr/lib/python3/dist-packages/requests/api.py", line 85, in post
    return request('post', url, data=data, **kwargs)
  File "/usr/lib/python3/dist-packages/requests/api.py", line 40, in request
    return s.request(method=method, url=url, **kwargs)
  File "/usr/lib/python3/dist-packages/requests/sessions.py", line 229, in request
    r.send(prefetch=prefetch)
  File "/usr/lib/python3/dist-packages/requests/models.py", line 468, in send
    url = self.full_url
  File "/usr/lib/python3/dist-packages/requests/models.py", line 382, in full_url
    netloc = netloc.encode('idna').decode('utf-8')
  File "/usr/lib/python3.2/encodings/idna.py", line 167, in encode
    result.extend(ToASCII(label))
  File "/usr/lib/python3.2/encodings/idna.py", line 73, in ToASCII
    raise UnicodeError("label empty or too long")
UnicodeError: label empty or too long

Any ideas?

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January 04, 2014, 04:05:31 PM
 #157

Some help anyone?

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PhantomPhreak
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January 04, 2014, 04:07:15 PM
 #158

Quote
How is the price determined?

Quote
Right now, XCP are being rewarded to those that burn BTC at a price between 1500 XCP/BTC and 1000 XCP/BTC. The exact formula is:
XCP_EARNED = BTC_BURNED * (1000 * (1 + .5 * ((END_BLOCK - CURRENT_BLOCK) / (END_BLOCK - START_BLOCK))

Thank you PhantomPhreak.  I would need both bitcoind and counterpartyd running?  It sounds like there are plans to have intermediaries do the burning for people soon so they don't have to set this up?

That's right.
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January 04, 2014, 04:11:48 PM
 #159

Some help anyone?

We are implementing a change that will address this issue of burns currently not working, and make them a lot easier to do. The change will be complete and we will have an announcement within 2 hours from this point with the full details. Thanks everyone for your patience.

Visit the official Counterparty forums: http://counterpartytalk.org
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January 04, 2014, 04:32:12 PM
 #160

Quote
How is the price determined?

Quote
Right now, XCP are being rewarded to those that burn BTC at a price between 1500 XCP/BTC and 1000 XCP/BTC. The exact formula is:
XCP_EARNED = BTC_BURNED * (1000 * (1 + .5 * ((END_BLOCK - CURRENT_BLOCK) / (END_BLOCK - START_BLOCK))

Thank you PhantomPhreak.  I would need both bitcoind and counterpartyd running?  It sounds like there are plans to have intermediaries do the burning for people soon so they don't have to set this up?

That's right.

What is the end block number?  Approximately.

Notable projects 2019: Semux, Dero, Wagerr, BEAM
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