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

[520Bit]

So below two orders are smart because of setting a 0.01 BTC fee_required.

http://blockscan.com/order.aspx?q=3596
http://blockscan.com/order.aspx?q=3374

They are not eaten by the alpha tester!!!
I would suggest all traders set a higher fee_required to avoid this kind of issue. However, if counterparty could improve, it would be better.

Yea   One of those are mine. Lol

So people can still make the deal by giving the exact fee_required.

 

[mtbitcoin]

So below two orders are smart because of setting a 0.01 BTC fee_required.

http://blockscan.com/order.aspx?q=3596
http://blockscan.com/order.aspx?q=3374

They are not eaten by the alpha tester!!!
I would suggest all traders set a higher fee_required to avoid this kind of issue. However, if counterparty could improve, it would be better.

Yea   One of those are mine. Lol

So people can still make the deal by giving the exact fee_required.

 

Yea, last chance for them to buy at below 0.01.  hahahah

[cityglut]

Don't forget to ask the larger exchanges to look at Counterparty.

I've sent emails to BTC-e, bter.com and Cryptsy.

Bter.com would be an excellent for exposure to the Chinese market.

Cryptsy already has shares listed on https://cryptostocks.com/securities/57 so they might be interested in the Counterparty for managing their shares.

One step at a time. Poloniex -> get us on coinmarketcap + GUI release -> bter/vircurex/cryptsy

I doubt any of the big exchanges will list XCP until there is a GUI and maybe even require initial install to be less than 17 hours

Tristan at poloniex says, "Someone should point out that the auto-build script does not work on a fresh install of Ubuntu. An sqlite-dev package needs to be installed first." I told him it was probably version specific to Ubuntu 13.04. Good news is that poloniex is starting the integration work, so 17 hours from now Tristan can start testing.

@cityglut, would it be possible to get some XCP sent to Tristan at poloniex so he can test deposit/withdrawal of XCP on his exchange?

James

Sorry, James, just saw this! Sure, I can send him a few XCP. What's the destination address?

[cityglut]

Announcement: I have created an announcement thread on the official forum, where users can look for technical updates - among these, of course, updates regarding the most recent version of counterpartyd: https://forums.counterparty.co/index.php/topic,80.0.html.

[delulo]

When can the GUI client roughly be expected (dont want a guarantee just a rough estimate)? Would that GUI client go along with an easy installation?


Two other questions I have:
How many developers are working on counterparty right now and are they full time?
I assume counterparty is working on the bitcoin blockchain which means that transactions/contracts are facilitated by bitcoin miners. Correct? Would it be possible to migrate to an own/different blockchainl with counterparty? Any plans here?

  

The community has multiple desktop clients in the works.

Regarding a web-wallet, I have posted a written tech preview of "Counterwallet", which is the upcoming deterministic web wallet the Counterparty team is hard at work on. Check it out on the counterparty forums at: https://forums.counterparty.co/index.php?topic=79

As I stated in that thread, screenshots should be coming by the end of the week. Things are moving along very well.

As far as your other question goes, currently Phantom and I are working on Counterparty (pretty much) full-time. We have future plans for additional full-time devs.

Thanks for the answer!

What about the very last question:

I assume counterparty is working on the bitcoin blockchain which means that transactions/contracts are facilitated by bitcoin miners. Correct? Would it be possible to migrate to an own/different blockchainl with counterparty? Any plans here?

and

Would the GUI client go along with an easy installation?

[JahPowerBit]

this GUI is ready for actions: send, order, cancel and btcpay.

https://github.com/JahPowerBit/BoottleXCP

[JahPowerBit]

Orders match even the amount is lower than config.DUST_SIZE. If it's impossible to make the BTCPay, i think the orders should not match.

http://blockscan.com/order_match.aspx?q=3604

[Alias]

When can the GUI client roughly be expected (dont want a guarantee just a rough estimate)? Would that GUI client go along with an easy installation?


Two other questions I have:
How many developers are working on counterparty right now and are they full time?
I assume counterparty is working on the bitcoin blockchain which means that transactions/contracts are facilitated by bitcoin miners. Correct? Would it be possible to migrate to an own/different blockchainl with counterparty? Any plans here?

  

The community has multiple desktop clients in the works.

Regarding a web-wallet, I have posted a written tech preview of "Counterwallet", which is the upcoming deterministic web wallet the Counterparty team is hard at work on. Check it out on the counterparty forums at: https://forums.counterparty.co/index.php?topic=79

As I stated in that thread, screenshots should be coming by the end of the week. Things are moving along very well.

As far as your other question goes, currently Phantom and I are working on Counterparty (pretty much) full-time. We have future plans for additional full-time devs.

Thanks for the answer!

What about the very last question:

I assume counterparty is working on the bitcoin blockchain which means that transactions/contracts are facilitated by bitcoin miners. Correct? Would it be possible to migrate to an own/different blockchainl with counterparty? Any plans here?

and

Would the GUI client go along with an easy installation?

How flexible is the Counterparty Protocol in terms of it being run atop other alt-coins instead of just Bitcoin?

Has anyone got any opinions about which alt-coin might be the optimal base for Counterparty?

Most alt-coins are nearly identical to Bitcoin, and Counterparty will run fine on any one that is. It would need a little tweaking for something like Namecoin or Peercoin, but not much, I think.

By which you mean support for OP_RETURN feature of Bitcoin? I think I read something on that before, i.e. that it is used to store data on the XCP transaction taking place.

I was reading an article on one of the bitcoin magzine websites and they mention that apart from the obvious external dependency (i.e. btc blockchain) the other problem is that it could be sluggish or time consuming searching the block chain for specific transactions that have stored XCP data. Is this a concern for you at this stage.

As far as I know, most alt-coins support multi-sig, which does suffice.

It's not a problem, as all of the transactions only need to be found once, in order, and then they are stored in their own (much smaller) database. And we have ten minutes between blocks, so there's plenty of time to parse new transactions as they appear on the network. The main disadvantage of the 'meta-coin' approach is that there can't be any SPV clients (someone needs to store the whole blockchain, as it were), but there are plenty of ways around that.

[520Bit]

Can't install counterpartyd_build due to below error:
I tried more than 3 times, the same error happened.
Also posted here: https://forums.counterparty.co/index.php/topic,13.msg384.html#msg384

Code:

c:\counterpartyd_build>c:\python32\python exe setup.py
......................


Downloading/unpacking requests==2.1.0 (from -r c:\counterpartyd_build\dist\reqs.txt (line 10))
  Downloading requests-2.1.0.tar.gz (420kB): 335kB downloaded
Cleaning up...
Exception:
Traceback (most recent call last):
  File "c:\counterpartyd_build\env\lib\site-packages\pip\basecommand.py", line 134, in main
    status = self.run(options, args)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\commands\install.py", line 236, in run
    requirement_set.prepare_files(finder, force_root_egg_info=self.bundle, bundle=self.bundle)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\req.py", line 1092, in prepare_files
    self.unpack_url(url, location, self.is_download)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\req.py", line 1238, in unpack_url
    retval = unpack_http_url(link, location, self.download_cache, self.download_dir)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\download.py", line 622, in unpack_http_url
    download_hash = _download_url(resp, link, temp_location)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\download.py", line 495, in _download_url
    chunk = resp.read(4096)
  File "c:\python32\Lib\http\client.py", line 517, in read
    s = self.fp.read(amt)
  File "c:\python32\Lib\socket.py", line 287, in readinto
    return self._sock.recv_into(b)
  File "c:\python32\Lib\ssl.py", line 399, in recv_into
    return self.read(nbytes, buffer)
  File "c:\python32\Lib\ssl.py", line 293, in read
    v = self._sslobj.read(len, buffer)
socket.timeout: The read operation timed out


Storing complete log in C:\Users\xxx\pip\pip.log
2014-02-10 19:06:46,378|ERROR: Command failed: 'c:\counterpartyd_build\env\Scripts\pip.exe install -r c:\counterpartyd_build\dist\reqs.txt'


c:\counterpartyd_build>

[gacrux]

It seems that adding more fees that either go to miners or otherwise get burned is one of the more popular but misguided solutions developers are working on.
The idea is that high fees will discourage non-traders but it is unclear why this wouldn't discourage traders also as these fees would quickly build up.

Please take a look at my suggestion here:
https://forums.counterparty.co/index.php/topic,69.msg340.html#msg340

I'm advocating much higher fees (and, importantly, fees in proportion to the size of the order matched.) But - and this is the catch - I'm also advocating that fees be payable in whatever blend of XCP and BTC the person paying them prefers, and the XCP fees are fully refunded upon BTCpay.

In other words, this would make fees very minimal (ie. just the unavoidable bitcoin network fee) for the vast majority of orders, even really large orders. But it would cost anybody failing to BTCpay heavily, in proportion to the amount of XCP that they matched and then failed to pay for.

Fundamentally, when you match an order, you're committing to buy - you're blocking anybody else from matching it after all. You should be expected to always BTCpay for your orders if you are an honest node. What's more, you should be expected to BTCpay promptly. There's no excuse for matching somebody's order, tying up their funds, and delaying payment.

The BTCpay mechanism isn't intended to be an "option" for people to have the luxuary of locking in a price and deciding later whether to exercise it. It has worked that way so far only by an unfortunate accident in the protocol design - one that can be corrected. Those who want to keep the current "XCP buyer has an option and can choose to exercise it" type behaviour must accept that the trolls also get to use it.

Let's iron it out of the protocol and make this bullet proof. It'll result in cheaper orders for everyone except the trolls, prompt settlements, and a more smoothly functioning market.

[520Bit]

Can't install counterpartyd_build due to below error:
I tried more than 3 times, the same error happened.
Also posted here: https://forums.counterparty.co/index.php/topic,13.msg384.html#msg384

Code:

c:\counterpartyd_build>c:\python32\python exe setup.py
......................


Downloading/unpacking requests==2.1.0 (from -r c:\counterpartyd_build\dist\reqs.txt (line 10))
  Downloading requests-2.1.0.tar.gz (420kB): 335kB downloaded
Cleaning up...
Exception:
Traceback (most recent call last):
  File "c:\counterpartyd_build\env\lib\site-packages\pip\basecommand.py", line 134, in main
    status = self.run(options, args)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\commands\install.py", line 236, in run
    requirement_set.prepare_files(finder, force_root_egg_info=self.bundle, bundle=self.bundle)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\req.py", line 1092, in prepare_files
    self.unpack_url(url, location, self.is_download)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\req.py", line 1238, in unpack_url
    retval = unpack_http_url(link, location, self.download_cache, self.download_dir)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\download.py", line 622, in unpack_http_url
    download_hash = _download_url(resp, link, temp_location)
  File "c:\counterpartyd_build\env\lib\site-packages\pip\download.py", line 495, in _download_url
    chunk = resp.read(4096)
  File "c:\python32\Lib\http\client.py", line 517, in read
    s = self.fp.read(amt)
  File "c:\python32\Lib\socket.py", line 287, in readinto
    return self._sock.recv_into(b)
  File "c:\python32\Lib\ssl.py", line 399, in recv_into
    return self.read(nbytes, buffer)
  File "c:\python32\Lib\ssl.py", line 293, in read
    v = self._sslobj.read(len, buffer)
socket.timeout: The read operation timed out


Storing complete log in C:\Users\xxx\pip\pip.log
2014-02-10 19:06:46,378|ERROR: Command failed: 'c:\counterpartyd_build\env\Scripts\pip.exe install -r c:\counterpartyd_build\dist\reqs.txt'


c:\counterpartyd_build>

The last time I tried and installed successfully, but I do not know why.

[520Bit]

Announcement: I have created an announcement thread on the official forum, where users can look for technical updates - among these, of course, updates regarding the most recent version of counterpartyd: https://forums.counterparty.co/index.php/topic,80.0.html.

Why the installer is v0.4.2, but the source is v0.4.1?

[delulo]

When can the GUI client roughly be expected (dont want a guarantee just a rough estimate)? Would that GUI client go along with an easy installation?


Two other questions I have:
How many developers are working on counterparty right now and are they full time?
I assume counterparty is working on the bitcoin blockchain which means that transactions/contracts are facilitated by bitcoin miners. Correct? Would it be possible to migrate to an own/different blockchainl with counterparty? Any plans here?

  

The community has multiple desktop clients in the works.

Regarding a web-wallet, I have posted a written tech preview of "Counterwallet", which is the upcoming deterministic web wallet the Counterparty team is hard at work on. Check it out on the counterparty forums at: https://forums.counterparty.co/index.php?topic=79

As I stated in that thread, screenshots should be coming by the end of the week. Things are moving along very well.

As far as your other question goes, currently Phantom and I are working on Counterparty (pretty much) full-time. We have future plans for additional full-time devs.

Thanks for the answer!

What about the very last question:

I assume counterparty is working on the bitcoin blockchain which means that transactions/contracts are facilitated by bitcoin miners. Correct? Would it be possible to migrate to an own/different blockchainl with counterparty? Any plans here?

and

Would the GUI client go along with an easy installation?

How flexible is the Counterparty Protocol in terms of it being run atop other alt-coins instead of just Bitcoin?

Has anyone got any opinions about which alt-coin might be the optimal base for Counterparty?

Most alt-coins are nearly identical to Bitcoin, and Counterparty will run fine on any one that is. It would need a little tweaking for something like Namecoin or Peercoin, but not much, I think.

By which you mean support for OP_RETURN feature of Bitcoin? I think I read something on that before, i.e. that it is used to store data on the XCP transaction taking place.

I was reading an article on one of the bitcoin magzine websites and they mention that apart from the obvious external dependency (i.e. btc blockchain) the other problem is that it could be sluggish or time consuming searching the block chain for specific transactions that have stored XCP data. Is this a concern for you at this stage.

As far as I know, most alt-coins support multi-sig, which does suffice.

It's not a problem, as all of the transactions only need to be found once, in order, and then they are stored in their own (much smaller) database. And we have ten minutes between blocks, so there's plenty of time to parse new transactions as they appear on the network. The main disadvantage of the 'meta-coin' approach is that there can't be any SPV clients (someone needs to store the whole blockchain, as it were), but there are plenty of ways around that.

Ok.So running xcp on top of an altcoin is possible. But is it possible to run xcp on an own blockchain and if so is that an option / planned? 

And would the GUI client allow an easy installation?

[Alias]

Ok.So running xcp on top of an altcoin is possible. But is it possible to run xcp on an own blockchain and if so is that an option / planned?  

And would the GUI client allow an easy installation?

I don't mean to sound flippant but the answer to both of those questions is obvious.  Of course XCP could run on it's own blockchain if it can run any blockchain. Just fork the Bitcoin code to create Countercoin and you're halfway there. Of course a GUI frontend will come with an "easy installation" if you just have some patience. It is a natural progression.

Edit: Are you talking about this instance of Counterparty or a new instance of it?

[delulo]

Ok.So running xcp on top of an altcoin is possible. But is it possible to run xcp on an own blockchain and if so is that an option / planned?  

And would the GUI client allow an easy installation?

I don't mean to sound flippant but the answer to both of those questions is obvious.  Of course XCP could run on it's own blockchain if it can run any blockchain. Just fork the Bitcoin code to create Countercoin and you're halfway there. Of course a GUI frontend will come with an "easy installation" if you just have some patience. It is a natural progression.

Edit: Are you talking about this instance of Counterparty or a new instance of it?

I should have been more explicit. I was thinking about counterparty with proof of stake on an own chain (or nxt or ppc). ... and whether there are any plans in that respect. My assumption is that fees for making bets could be lower with a POS system and therefore counterparty could be more competitive. Also transaction times could be  much lower than 10 minutes which is a big plus for making bets...
 
 

[qtgwith]

by user btcfanatic


by user JahPowerBit



by user  l8orre

Seems the GUI of the JahPowerBit having more functions.

[devphp]

Can a matched order in 'awaiting payment' status be canceled without waiting for payment to be released?



I've also noticed a nuisance bug - Insufficient bitcoins at address, when making an order, 0.0003172 BTC is needed, but there is 0.001 in the wallet.

counterpartyd balances xxxxxxxxxxxxxxxxxx    reports 0.0 BTC.
Shouldn't it be more precise in reporting and calculating balance?

[xnova]

Ok.So running xcp on top of an altcoin is possible. But is it possible to run xcp on an own blockchain and if so is that an option / planned?  

And would the GUI client allow an easy installation?

Not sure what you mean exactly by "counterparty with proof of stake on an own chain (or nxt or ppc)" ... https://counterparty.co/faqs/can-counterparty-work-on-blockchains-other-than-bitcoin/

Counterparty could probably work on a hybrid POS blockchain like PPC.... the key is really around being able to encode the data into both the POW blocks and the POS blocks. I'm not 100% certain of the state of PPC's multisig support (and it probably doesn't relay OP_RETURN currently, as that's just coming around for bitcoin itself). However, as long as we can do multisig into the blocks, then in concept counterparty could be made to work with a different Bitcoin-based blockchain. Note that there are other technical considerations that would need to be taken into account as well that could have an impact on the implementation, such as block timing.

With things like NXT, that's totally up in the air, as it's not based around Bitcoin. I don't know enough about it to say one way or the other. Probably just simpler for NXT to develop that kind of functionality natively.

With regards to your GUI question... that is the whole point of a web wallet, there *is* no installation. No counterpartyd to set up and install. You simply go to a webpage, generate a passphrase, paste it into a text box, and click login. Takes all of 5 seconds. Nothing to save or worry about beyond your pass phrase (which *is* your wallet)

[nakaone]

With regards to your GUI question... that is the whole point of a web wallet, there *is* no installation. No counterpartyd to set up and install. You simply go to a webpage, generate a passphrase, paste it into a text box, and click login. Takes all of 5 seconds. Nothing to save or worry about beyond your pass phrase (which *is* your wallet)

that sounds so great - when will it be ready?

[michald]

Hi guys,
I am trying to make counterparyd to work on ubuntu vps, i have installed everything and when i try to run it i get the following response :

Please run this script as a non-root user.
 

So i went ahead and created a user, and now i get this :

-sh: 1: counterpartyd: Permission denied

any advice will be much appreciated