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

[PhantomPhreak]

There's a 1BTC limit per address mentioned in first post.Is it ok to burn more from another address in the same wallet?

The limit is per address.

[MadCow]

This looks like a very interesting project - well done!

Is there any way to buy XCP now for the technically challenged? I've tried following the instructions but I just can't get it working, and maybe my PC and internet isn't up to it anyway. Can I send my bitcoin to one of the devs who can do the burn for me?


edit: I found your website and can see i am able to use a blockchain.info wallet - excellent!!

[versificateur]

Hi,

this is a very interesting project, but I've got some questions 
Why XCP isn't simply a merged mining protocol for asset transfer and smart contract ? why did you choose to burn BTC as PoS ? because of a technical issue or just because you believe more in PoS ? afaik with a merged mining protocol there is also no waste of energy (same miners, new assets).

[klee]

It is a very good step forward though PoW coins (XCP will use BTC blockchain) will soon become obsolete IMHO.
I wish you could do the same thing in a 100% PoS chain..

[PhantomPhreak]

This looks like a very interesting project - well done!

Is there any way to buy XCP now for the technically challenged? I've tried following the instructions but I just can't get it working, and maybe my PC and internet isn't up to it anyway. Can I send my bitcoin to one of the devs who can do the burn for me?


edit: I found your website and can see i am able to use a blockchain.info wallet - excellent!!

Glad to hear it!

Hi,

this is a very interesting project, but I've got some questions  
Why XCP isn't simply a merged mining protocol for asset transfer and smart contract ? why did you choose to burn BTC as PoS ? because of a technical issue or just because you believe more in PoS ? afaik with a merged mining protocol there is also no waste of energy (same miners, new assets).

It was very important to us not to have our own blockchain, for simplicity above all.

Counterparty is not really proof of stake, but rather 'proof of burn'.

[versificateur]

It was very important to us not to have our own blockchain, for simplicity above all.

Counterparty is not really proof of stake, but rather 'proof of burn'.

So if you don't have your own blockchain, how do you transfer XCP and secure all transactions ? I understand you're using BTC address, but BTC address are only secured for BTC transactions. So put it simply, how do you manage to secure a non btc transaction with the btc blockchain ?

Edit: I think i got it. you're paying btc fees to the bitcoin network to process and ensure transactions

[MadCow]

This looks like a very interesting project - well done!

Is there any way to buy XCP now for the technically challenged? I've tried following the instructions but I just can't get it working, and maybe my PC and internet isn't up to it anyway. Can I send my bitcoin to one of the devs who can do the burn for me?


edit: I found your website and can see i am able to use a blockchain.info wallet - excellent!!

Glad to hear it!

I've burnt my bitcoin using blockchain.info. Is it possible to see how many XCP I will get without running the counterparty software on my local PC?

Is there a rough figure per bitcoin? Is there some type of early bird bonus? I'm cool if there isn't, just trying to decide if I should burn more today, or can I wait until later without any penalty?

cheers

[BitThink]

We may need to switch to destroying coins by sending them to an unspendable address.

Ugh.  No.  That will simply bloat one of the network's key resources for all time.

See announce/commit sacrifices and other tools.

Frankly the Counterparty system is better off sticking with the unspendable address method. Unlike OP_RETURN it's standard now, it doesn't encourage centralization like announce-commit sacrifice-to-fees does, it keeps an even playing field and doesn't give discounts to big pools, it's way more convenient than sacrifice-to-fees, and finally it is good marketing.

You can complain all they want, but you have to accept that in a decentralized system full of anonymous participants asking people to act against their own interests for some vague greater good isn't going to be very successful.

I am kind of lost. I thought by burning BTC we just send to the unspendable address as described in the tutorial here: http://counterpartyd-build.readthedocs.org/en/latest/HowToBurn.html

I hasn't seen OP_RETURN is used in this method. Does that mean the tutorial there has been obsoleted, or there's a new method using OP_RETURN?

[led_lcd]

I've burnt my bitcoin using blockchain.info. Is it possible to see how many XCP I will get without running the counterparty software on my local PC?

Is there a rough figure per bitcoin? Is there some type of early bird bonus? I'm cool if there isn't, just trying to decide if I should burn more today, or can I wait until later without any penalty?

cheers

If you post or PM the address you burnt from, one of us which has counterpartyd running can check for you. I'd be happy to check if you'd like.

[MadCow]

I've burnt my bitcoin using blockchain.info. Is it possible to see how many XCP I will get without running the counterparty software on my local PC?

Is there a rough figure per bitcoin? Is there some type of early bird bonus? I'm cool if there isn't, just trying to decide if I should burn more today, or can I wait until later without any penalty?

cheers

If you post or PM the address you burnt from, one of us which has counterpartyd running can check for you. I'd be happy to check if you'd like.

PM sent, thanks

[PhantomPhreak]

I am kind of lost. I thought by burning BTC we just send to the unspendable address as described in the tutorial here: http://counterpartyd-build.readthedocs.org/en/latest/HowToBurn.html

I hasn't seen OP_RETURN is used in this method. Does that mean the tutorial there has been obsoleted, or there's a new method using OP_RETURN?

OP_RETURN isn't necessary (only) for burns, and indeed it's unsupported on mainnet until Bitcoind 0.9 comes out. The tutorial is up-to-date.

[xibeijan]

Is the bitcoin wallet the only thing that needs to be backed up?  Does counterparty have its own wallet or other data that requires a backup?

[kdrop22]

Is the bitcoin wallet the only thing that needs to be backed up?  Does counterparty have its own wallet or other data that requires a backup?

+1.

Also, if I encrypt my Bitcoin-QT wallet. Will 'counterpartyd' still be able to work with it.

[MadCow]

I've burnt my bitcoin using blockchain.info. Is it possible to see how many XCP I will get without running the counterparty software on my local PC?

Is there a rough figure per bitcoin? Is there some type of early bird bonus? I'm cool if there isn't, just trying to decide if I should burn more today, or can I wait until later without any penalty?

cheers

If you post or PM the address you burnt from, one of us which has counterpartyd running can check for you. I'd be happy to check if you'd like.

PM sent, thanks

Thanks led_lcd! I can confirm that using a blockchain.info wallet to burn the bitcoin works perfectly!

Follow the instructions on this page. http://counterpartyd-build.readthedocs.org/en/latest/HowToBurn.html#without-using-counterpartyd

[xibeijan]

Another bug report

Traceback (most recent call last):
  File "./counterpartyd.py", line 465, in <module>
    deadline = round(datetime.timestamp(dateutil.parser.parse(args.deadline)))
AttributeError: type object 'datetime.datetime' has no attribute 'timestamp'

[NWO]

Okay, I burned some spare change. Where do I see my XCP? Could someone please help 

https://blockchain.info/tx/9a0a7b95604e84fd670f5332e2a0dbe11c0b95aa7958172756f2885f00408522

[jimhsu]

Okay, I burned some spare change. Where do I see my XCP? Could someone please help  ???

https://blockchain.info/tx/9a0a7b95604e84fd670f5332e2a0dbe11c0b95aa7958172756f2885f00408522

Looks like you've got some:

C:\Program Files\counterpartyd>counterpartyd address 1HGuoV6CUaqCm8CkWRGffxsp6ABYJK9YDR

Balances
+-------+--------------+
| Asset |    Amount    |
+-------+--------------+
|  BTC  |     ???      |
|  XCP  | 143.09312727 |
+-------+--------------+

[NWO]

Okay, I burned some spare change. Where do I see my XCP? Could someone please help  

https://blockchain.info/tx/9a0a7b95604e84fd670f5332e2a0dbe11c0b95aa7958172756f2885f00408522

Looks like you've got some:

C:\Program Files\counterpartyd>counterpartyd address 1HGuoV6CUaqCm8CkWRGffxsp6ABYJK9YDR

Balances
+-------+--------------+
| Asset |    Amount    |
+-------+--------------+
|  BTC  |          |
|  XCP  | 143.09312727 |
+-------+--------------+

So I need to download the actual client to see my XCP?

[jimhsu]

Okay, I burned some spare change. Where do I see my XCP? Could someone please help  

https://blockchain.info/tx/9a0a7b95604e84fd670f5332e2a0dbe11c0b95aa7958172756f2885f00408522

Looks like you've got some:

C:\Program Files\counterpartyd>counterpartyd address 1HGuoV6CUaqCm8CkWRGffxsp6ABYJK9YDR

Balances
+-------+--------------+
| Asset |    Amount    |
+-------+--------------+
|  BTC  |          |
|  XCP  | 143.09312727 |
+-------+--------------+

So I need to download the actual client to see my XCP?

For now I guess. I presume some sort of block explorer is coming (if I knew more python, I'd try coding one myself).

PS For the record, we're at a market cap of over $200K right now. NXT launched with 1/10th of that. Not a direct comparison, because Nxt is not PoB.

[NWO]

Okay, I burned some spare change. Where do I see my XCP? Could someone please help  

https://blockchain.info/tx/9a0a7b95604e84fd670f5332e2a0dbe11c0b95aa7958172756f2885f00408522

Looks like you've got some:

C:\Program Files\counterpartyd>counterpartyd address 1HGuoV6CUaqCm8CkWRGffxsp6ABYJK9YDR

Balances
+-------+--------------+
| Asset |    Amount    |
+-------+--------------+
|  BTC  |          |
|  XCP  | 143.09312727 |
+-------+--------------+

So I need to download the actual client to see my XCP?

For now I guess. I presume some sort of block explorer is coming (if I knew more python, I'd try coding one myself).

PS For the record, we're at a market cap of over $200K right now. NXT launched with 1/10th of that. Not a direct comparison, because Nxt is not PoB.

Cheers! I'm guessing there currently isn't a way to send these to people? I burned through blockchain.info. This is a much greater distribution technique than Nxt.