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

[mcjavar]

What does it mean if an order match is expired?

The order duration is determined by an amount of yet to be mined blocks. Expired = amount of blocks has been reached without execution/match.

Order match expired means:

* There was an "order match" between 2 orders
* One order involved the payment of BTC
* The side that was supposed to pay BTC did not do so within the required timeframe after the order match

Therefore the "order match" expired.

Do I need to manually approve a transaction? I thought if there is a buy order higher than my sell order, it gets executed automatically.

[1715662798]

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[ddink7]

Is it just my version or did everyone's say Beta on the top too?
I don't think there even needed to be a reimbursement.

despite that, the positive PR from a swift refund would be worth more than 7BTC to counterparty as a whole

http://www.reddit.com/r/CryptoCurrency/comments/23szud/issue_smart_property_with_counterparty/

/x/post to /r/bitcoinmarkets might be good too

Where does the 7 BTC figure come from? I know that I had just over 12.5 BTC stolen from my account alone.

I'll concede that while Counterparty itself is in beta mode, this bug allowed others to discover private keys to bitcoin addresses, and empty those accounts of bitcoins as well, not just of XCP. In fact, I was actually using Counterwallet to sell my last XCP. How could I have reasonably expected that a Counterparty-related bug would result in the loss of $6,000 worth of a totally different currency (bitcoin)? Nor did I have any reason to follow the Counterparty thread, including announcement of the security breach, because I no longer owned any XCP. Why would I follow the "news" of a crypto I no longer have holdings of?

I think reimbursement for lost funds--lost due to a flaw in the counterwallet software--is vital. It would be one thing if the loss was merely XCP--a "beta" level cryptocurrency--but losing BTC is a whole different ballgame. Additionally, what do you all think would happen to Counterparty if the Bitcoin devs decided it was a risk to the main blockchain (the BITCOIN blockchain)? Sure, it's tolerated and even accepted now--but only so long as it doesn't interfere with the integrity and performance of its "host."

Still waiting to hear on my reimbursement request from devs. Will keep everyone updated.

Personally, I'm wondering why anybody would transfer that much BTC to a Counterparty wallet address.  Sure, the Counterparty wallet can handle BTC, but standalone Bitcoin clients are generally going to be safer than anything still under active development.  Transfer enough BTC to pay the transaction fees to send your XCP, but 12BTC is surely overkill for all but the most active Counterparty users.  JMHO.

@devs: If it's not already instituted, it probably wouldn't be a bad idea to have a warning not to import much BTC (say more than 0.5BTC?) into the XCP wallet.  Users can always replenish with more later, if necessary.  Maybe even a hard limit in the Counterparty web wallet that won't allow people to sweep more than 0.5BTC at a time.  For the time being, at least.... it seems like a better idea than paying out of pocket to reimburse people every time a new flaw is discovered.

I should point out that the affected address was first-and-foremost my bitcoin address. It was also the address from which I "burned" funds initially, so it was the default address that my XCP was sent to. It honestly never occurred to me to separate my BTC and XCP addresses--I saw no reason to.

I definitely agree that a message in the future suggesting people not "combine" BTC and XCP addresses is a good idea.

@Cityglut/devs--No worries on the delay, I totally understand the need to double and triple check everything. I agree that throughout the entire Counterparty launch, all the way to the present, the devs have been amazing and supportive. As an aside, Warren Buffett always says that he doesn't invest in companies, per se, but in managers. With the kind of dev team Counterparty has, I think the protocol has an amazing future.

[nakaone]

the devs and their behaviour towards the community are nothing but outstanding.

To the development team: I have a question, regarding the native currency. is there any roadmap, when the features betting and contracts for differences are implemented?

[baddw]

Reimbursement from their own pockets is the most honorable behavior possible, especially in cryptoland.

On the contrary, do you think Mastercoin will ever think to reimburse every people that were stucked with unwanted MSC bought for maidsafe IPO ?...

Do you think major exchanges reimbursed people from their own pockets ? Remember MtGox ?

CONGRATS to Counterparty devs. People know that when shit happens, devs will repair, technically and financially. Confidence is the key.
Counterparty devs have perfectly led the incident : Public announcement, patch in less than few hours, reimbursement...And Community proposed to donate more !
What can we expect more ? Classic Devs in altcoins would have easily said "It's beta", "The protocol is not affected, so we won't reimburse" or "You were idiots to have so much money on a web wallet". They didn't.

That's why there are 3 IPO starting by the way

I agree completely.  It is totally honorable, as well as being good PR.  Much respect to the devs for doing it.

However, reimbursing everybody all the time is clearly not sustainable.  I shudder to think if the 12.5 BTC lost had been 125 BTC; but it clearly would have been better if it had been 1.25 BTC, or .125 BTC.  Hopefully there will not be any more breaches, but it's complicated software; it can never be perfect.  Just because it's open-source and security audited, doesn't mean that it's flawless.  Humans make mistakes, it's simply part of life.

[nxt123.cn]

with some interface for an application layer to be built on top for web apps?  i think the press has done a great job at creating paranoia about data theft that people might actually go for it.

[PhantomPhreak]

What does it mean if an order match is expired?

The order duration is determined by an amount of yet to be mined blocks. Expired = amount of blocks has been reached without execution/match.

Order match expired means:

* There was an "order match" between 2 orders
* One order involved the payment of BTC
* The side that was supposed to pay BTC did not do so within the required timeframe after the order match

Therefore the "order match" expired.

Do I need to manually approve a transaction? I thought if there is a buy order higher than my sell order, it gets executed automatically.

By default, Counterwallet handles the last step itself, but only if you remain logged in.

[PhantomPhreak]

the devs and their behaviour towards the community are nothing but outstanding.

To the development team: I have a question, regarding the native currency. is there any roadmap, when the features betting and contracts for differences are implemented?

Betting and CFDs are already fully implemented in counterpartyd. We'll be adding support to Counterwallet soon.

[mcjavar]

What does it mean if an order match is expired?

The order duration is determined by an amount of yet to be mined blocks. Expired = amount of blocks has been reached without execution/match.

Order match expired means:

* There was an "order match" between 2 orders
* One order involved the payment of BTC
* The side that was supposed to pay BTC did not do so within the required timeframe after the order match

Therefore the "order match" expired.

Do I need to manually approve a transaction? I thought if there is a buy order higher than my sell order, it gets executed automatically.

By default, Counterwallet handles the last step itself, but only if you remain logged in.

Otherwise it expires?

Does this mean that if I create an order selling 100 XCP for 0.005 BTC each and I log out for a week, my order won´t get executed if someone creates a 100 XCP buy order for 0.005 BTC each?

[PhantomPhreak]

What does it mean if an order match is expired?

The order duration is determined by an amount of yet to be mined blocks. Expired = amount of blocks has been reached without execution/match.

Order match expired means:

* There was an "order match" between 2 orders
* One order involved the payment of BTC
* The side that was supposed to pay BTC did not do so within the required timeframe after the order match

Therefore the "order match" expired.

Do I need to manually approve a transaction? I thought if there is a buy order higher than my sell order, it gets executed automatically.

By default, Counterwallet handles the last step itself, but only if you remain logged in.

Otherwise it expires?

Does this mean that if I create an order selling 100 XCP for 0.005 BTC each and I log out for a week, my order won´t get executed if someone creates a 100 XCP buy order for 0.005 BTC each?

Only the person selling the BTC needs to remain logged in, but yes.

[sparta_cuss]

What does it mean if an order match is expired?

The order duration is determined by an amount of yet to be mined blocks. Expired = amount of blocks has been reached without execution/match.

Order match expired means:

* There was an "order match" between 2 orders
* One order involved the payment of BTC
* The side that was supposed to pay BTC did not do so within the required timeframe after the order match

Therefore the "order match" expired.

Do I need to manually approve a transaction? I thought if there is a buy order higher than my sell order, it gets executed automatically.

By default, Counterwallet handles the last step itself, but only if you remain logged in.

Otherwise it expires?

Does this mean that if I create an order selling 100 XCP for 0.005 BTC each and I log out for a week, my order won´t get executed if someone creates a 100 XCP buy order for 0.005 BTC each?

Only the person selling the BTC needs to remain logged in, but yes.

I'm confused. Is the relevant issue that it's BTC that is being sold? Or does the seller of any asset need to remain logged in?  

[coinbird]

edit:problem solved

[PhantomPhreak]

Version 9.16.1 of counterpartyd is out on develop.

Changelog:

• allow exact fees to be specified in CLI
• improved algorithm for choosing unspent txouts in transaction construction
• allow the unconfirmed inputs CLI option

[freedomfighter]

sent 0.1 btc (31xcp) to the donation address (still no access to my XCPs as I am awaiting for it to be safer before I merge all accounts). devs, please share with us what was the total damage and how much was donated so that a stronger call for support can be voiced. 

[Anotheranonlol]

A new security has been announced. currently in IPO stage via CounterParty: DUNNECAP

In case you've missed some of the recent XCP listings over the past few days

DUNNECAP // Blockscan ticker

ROCKMINER // Blockscan ticker

ADEALLY // Blockscan ticker

[Matt Y]

Marketing position available: https://forums.counterparty.co/index.php?topic=292.msg2068#msg2068

[CryptoFinanceUK]

A new security has been announced. currently in IPO stage via CounterParty: DUNNECAP

In case you've missed some of the recent XCP listings over the past few days

DUNNECAP // Blockscan ticker

ROCKMINER // Blockscan ticker

ADEALLY // Blockscan ticker

Yeah, the pace has really quickened recently

FYI: I'm maintaining a list of major Counterparty assets, along with short descriptions, here -

https://forums.counterparty.co/index.php?topic=196.msg1535#msg1535

[Spekulatius]

What does it mean if an order match is expired?

The order duration is determined by an amount of yet to be mined blocks. Expired = amount of blocks has been reached without execution/match.

Order match expired means:

* There was an "order match" between 2 orders
* One order involved the payment of BTC
* The side that was supposed to pay BTC did not do so within the required timeframe after the order match

Therefore the "order match" expired.

Do I need to manually approve a transaction? I thought if there is a buy order higher than my sell order, it gets executed automatically.

By default, Counterwallet handles the last step itself, but only if you remain logged in.

Otherwise it expires?

Does this mean that if I create an order selling 100 XCP for 0.005 BTC each and I log out for a week, my order won´t get executed if someone creates a 100 XCP buy order for 0.005 BTC each?

Only the person selling the BTC needs to remain logged in, but yes.

That sounds like a major inconvenience. An quite frankly I dont get why this has to be. Can somepne pls explain? How could we fully automate the process?

[Anotheranonlol]

That sounds like a major inconvenience. An quite frankly I dont get why this has to be. Can somepne pls explain? How could we fully automate the process?

One way is to use XBTC instead of BTC

[cityglut]

We have received the full amount of stolen funds at the donation address.

Thank you to the white hat for returning the funds. We greatly appreciate it.

To those members who lost funds: We will be sending your donation funds to the new addresses you provided in the next day. Sorry for the delay, and thank you for your patience.

[frozen123]

Exciting news!

Thank you  white hat!