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

[sumone]

How to get XBTC
An automatic vending machine for XBTC has been created. To get XBTC, simply send BTC in Counterwallet to:

1XBTCxh9HdyQ4y5VMnTzPANZoZZvrMSA6
After 3 confirmations, XBTC will be sent back automatically.

Just to clarify, who has access to this BTC address, and how we can be sure that it won't be suddenly emptied?

I have control to the private key to this BTC address. I'd be happy to sign a message stating that. I'm led_lcd here in Bitcointalk, global_trade_repo in the official Counterparty forums and neither am I anonymous.

XBTC is a product based upon Vennd. XBTC is a service of a (soon to be ) legally incorporated company called vennd.io (http://vennd.io). We have been working in close relationship with the Counterparty developers to bring features, service and value to the Counterparty community.

In which country will vennd.io become a legally incorporated company?

[Bitcoin++]

I just realized that XCP is perfect for issuing digital currencies backed by real assets.
(Others may have written about this before, so forgive me if I "steal" these thoughts ... )


Unlike altcoins, you don't need to fear the network collapsing any more than you need for bitcoin.

Therefore XCP is the perfect platform for issuing an asset/coin, right?

Now say you own a shop and want customers to pay in a crytpo-currency because it's convenient and has low fees. The problem with bitcoin is volatility. Therefore you issue CRYPTODOLLAR which you back by USD. How you do it is simply that you put your asset for sale at the price of one dollar measured in bitcoins. Your asking price always adjusts up and down according to BTC's price. You also promise always to buy back at 99 cents, so that customers only faces a tiny spread (kinda like ETFs on the stock exchange are priced).

As long as your customers trust that you'll always buy back their CRYPTODOLLARS they have a cryptocurruency with zero volatility. To gain this trust you may have an audited bank account with the same amount of dollars as you've issued of these assets. The same can be done backed by gold, silver, or anything else.

In terms of betting this could work just as well. Xbet.io is an excellent service, but it's difficult to get the XCPs needed to bet. The spread is large and the volume is low. If someone trustworthy issues a CASIONDOLLAR or similar based on the description above, it becomes more user friendly. At the moment, though, this may be impossible (If I understood correct) since only XCPs are possible to use for betting. But in a future update of Counterparty any asset can be used, am I right?

[Matt Y]

I just realized that XCP is perfect for issuing digital currencies backed by real assets.
(Others may have written about this before, so forgive me if I "steal" these thoughts ... )


Unlike altcoins, you don't need to fear the network collapsing any more than you need for bitcoin.

Therefore XCP is the perfect platform for issuing an asset/coin, right?

Now say you own a shop and want customers to pay in a crytpo-currency because it's convenient and has low fees. The problem with bitcoin is volatility. Therefore you issue CRYPTODOLLAR which you back by USD. How you do it is simply that you put your asset for sale at the price of one dollar measured in bitcoins. Your asking price always adjusts up and down according to BTC's price. You also promise always to buy back at 99 cents, so that customers only faces a tiny spread (kinda like ETFs on the stock exchange are priced).

As long as your customers trust that you'll always buy back their CRYPTODOLLARS they have a cryptocurruency with zero volatility. To gain this trust you may have an audited bank account with the same amount of dollars as you've issued of these assets. The same can be done backed by gold, silver, or anything else.

In terms of betting this could work just as well. Xbet.io is an excellent service, but it's difficult to get the XCPs needed to bet. The spread is large and the volume is low. If someone trustworthy issues a CASIONDOLLAR or similar based on the description above, it becomes more user friendly. At the moment, though, this may be impossible (If I understood correct) since only XCPs are possible to use for betting. But in a future update of Counterparty any asset can be used, am I right?

Yes.

[led_lcd]

I have control to the private key to this BTC address. I'd be happy to sign a message stating that. I'm led_lcd here in Bitcointalk, global_trade_repo in the official Counterparty forums and neither am I anonymous.

XBTC is a product based upon Vennd. XBTC is a service of a (soon to be ) legally incorporated company called vennd.io (http://vennd.io). We have been working in close relationship with the Counterparty developers to bring features, service and value to the Counterparty community.

In which country will vennd.io become a legally incorporated company?

Australia

[xibeijan]

Can someone please help?  I am trying to see my wallet and keep getting this error.

> counterpartyd wallet
Traceback (most recent call last):

  File "/home/X/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 837, in <module>
    address_data = get_address(db, address=address)
  File "/home/X/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 29, in get_address
    address_dict['balances'] = util.api('get_balances', {'filters': [('address', '==', address),]})
  File "/home/X/counterpartyd_build/dist/counterpartyd/lib/util.py", line 50, in api
    raise exceptions.RPCError('{}'.format(response_json['error']))
lib.exceptions.RPCError: {'message': 'Server error', 'code': -32000, 'data': {'type': 'NameError', 'args': ["global name 'a' is not defined"], 'message': "global name 'a' is not defined"}}

[xnova]

Can someone please help?  I am trying to see my wallet and keep getting this error.

> counterpartyd wallet
Traceback (most recent call last):

  File "/home/X/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 837, in <module>
    address_data = get_address(db, address=address)
  File "/home/X/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 29, in get_address
    address_dict['balances'] = util.api('get_balances', {'filters': [('address', '==', address),]})
  File "/home/X/counterpartyd_build/dist/counterpartyd/lib/util.py", line 50, in api
    raise exceptions.RPCError('{}'.format(response_json['error']))
lib.exceptions.RPCError: {'message': 'Server error', 'code': -32000, 'data': {'type': 'NameError', 'args': ["global name 'a' is not defined"], 'message': "global name 'a' is not defined"}}

This has been fixed earlier in the develop branch: https://github.com/CounterpartyXCP/counterpartyd/commit/e64312d064da1a5ed8b6e52744e99fc40f8d12d0

We'll get it ported into master, since it looks like it will be a bit before we merge develop into master again.

For now, feel free to edit the code yourself, directly, to fix the problem.

[led_lcd]

This has been fixed earlier in the develop branch: https://github.com/CounterpartyXCP/counterpartyd/commit/e64312d064da1a5ed8b6e52744e99fc40f8d12d0

We'll get it ported into master, since it looks like it will be a bit before we merge develop into master again.

For now, feel free to edit the code yourself, directly, to fix the problem.

I've manually patched api.py but I am still getting:

Code:

counterpartyd wallet

Traceback (most recent call last):
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 837, in <module>
    address_data = get_address(db, address=address)
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 29, in get_address
    address_dict['balances'] = util.api('get_balances', {'filters': [('address', '==', address),]})
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/lib/util.py", line 50, in api
    raise exceptions.RPCError('{}'.format(response_json['error']))
lib.exceptions.RPCError: {'data': {'type': 'NameError', 'args': ["global name 'a' is not defined"], 'message': "global name 'a' is not defined"}, 'message': 'Server error', 'code': -32000}

'a' is not very easy to search for references for...

[xnova]

This has been fixed earlier in the develop branch: https://github.com/CounterpartyXCP/counterpartyd/commit/e64312d064da1a5ed8b6e52744e99fc40f8d12d0

We'll get it ported into master, since it looks like it will be a bit before we merge develop into master again.

For now, feel free to edit the code yourself, directly, to fix the problem.

I've manually patched api.py but I am still getting:

Code:

counterpartyd wallet

Traceback (most recent call last):
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 837, in <module>
    address_data = get_address(db, address=address)
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 29, in get_address
    address_dict['balances'] = util.api('get_balances', {'filters': [('address', '==', address),]})
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/lib/util.py", line 50, in api
    raise exceptions.RPCError('{}'.format(response_json['error']))
lib.exceptions.RPCError: {'data': {'type': 'NameError', 'args': ["global name 'a' is not defined"], 'message': "global name 'a' is not defined"}, 'message': 'Server error', 'code': -32000}

'a' is not very easy to search for references for...

Is there a traceback printing in counterpartyd.log? If so, that would probably have a line number to the error. If it's something we haven't fixed, we'll get it fixed once we know the location (given that you said you already patched the bug we already fixed).

[voldemort628]

Is there any particular reason why you chose Australia?

I have control to the private key to this BTC address. I'd be happy to sign a message stating that. I'm led_lcd here in Bitcointalk, global_trade_repo in the official Counterparty forums and neither am I anonymous.

XBTC is a product based upon Vennd. XBTC is a service of a (soon to be ) legally incorporated company called vennd.io (http://vennd.io). We have been working in close relationship with the Counterparty developers to bring features, service and value to the Counterparty community.

In which country will vennd.io become a legally incorporated company?

Australia

[led_lcd]

Is there a traceback printing in counterpartyd.log? If so, that would probably have a line number to the error. If it's something we haven't fixed, we'll get it fixed once we know the location (given that you said you already patched the bug we already fixed).

This is in the api.error.log:

Code:

[14/Apr/2014:10:20:11] HTTP Traceback (most recent call last):
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/_cprequest.py", line 656, in respond
    response.body = self.handler()
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/lib/encoding.py", line 188, in __call__
    self.body = self.oldhandler(*args, **kwargs)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/_cpdispatch.py", line 34, in __call__
    return self.callable(*self.args, **self.kwargs)
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/lib/api.py", line 445, in index
    response = JSONRPCResponseManager.handle(data, dispatcher)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/manager.py", line 47, in handle
    request = JSONRPCRequest.from_json(request_str)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc.py", line 22, in from_json
    return JSONRPC10Request.from_json(json_str)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc1.py", line 93, in from_json
    method=data["method"], params=data["params"], _id=data["id"]
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/base.py", line 12, in __init__
    self.params = params
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc1.py", line 57, in params
    raise ValueError("Incorrect params {}".format(value))
ValueError: Incorrect params {'filters': [{'field': 'address', 'value': 'addressRedacted', 'op': '=='}]}

[led_lcd]

Is there any particular reason why you chose Australia?

It's the country where we are living. We have engaged legal counsel here in Australia too in case people were wondering.

[xnova]

Website updates

Hey guys...knocked out numerous website updates today to www.counterparty.co:

* Tagline added to home page...this may be tweaked over the next week
* Added a Team page at: https://www.counterparty.co/team/
* Added a projects portfolio at https://www.counterparty.co/projects/ ...please email us if your launched project is not listed
* Countertalk ep1 is up and properly listed: https://www.counterparty.co/category/countertalk/

[xnova]

Is there a traceback printing in counterpartyd.log? If so, that would probably have a line number to the error. If it's something we haven't fixed, we'll get it fixed once we know the location (given that you said you already patched the bug we already fixed).

This is in the api.error.log:

Code:

[14/Apr/2014:10:20:11] HTTP Traceback (most recent call last):
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/_cprequest.py", line 656, in respond
    response.body = self.handler()
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/lib/encoding.py", line 188, in __call__
    self.body = self.oldhandler(*args, **kwargs)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/_cpdispatch.py", line 34, in __call__
    return self.callable(*self.args, **self.kwargs)
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/lib/api.py", line 445, in index
    response = JSONRPCResponseManager.handle(data, dispatcher)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/manager.py", line 47, in handle
    request = JSONRPCRequest.from_json(request_str)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc.py", line 22, in from_json
    return JSONRPC10Request.from_json(json_str)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc1.py", line 93, in from_json
    method=data["method"], params=data["params"], _id=data["id"]
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/base.py", line 12, in __init__
    self.params = params
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc1.py", line 57, in params
    raise ValueError("Incorrect params {}".format(value))
ValueError: Incorrect params {'filters': [{'field': 'address', 'value': 'addressRedacted', 'op': '=='}]}

Eh...unfortunately not very helpful, due to the nature of that error. We'll have ouziel find and fix this 'a' bug in master tomorrow morning first thing (as well as a counterwallet mobile bug Swarm was having problems with).

[led_lcd]

Eh...unfortunately not very helpful, due to the nature of that error. We'll have ouziel find and fix this 'a' bug in master tomorrow morning first thing (as well as a counterwallet mobile bug Swarm was having problems with).

Thanks. Unfortunately, there wasn't anything in counterpartyd.log

[toffoo]

* Added a Team page at: https://www.counterparty.co/team/

Nice, but FYI this page isn't rendering for me good on Safari/OSX:

[porqupine]

Cross Post from Counterparty Forums:

Development version of the new site is UP at test.xcpfeeds.info.

* General *
The Front-page is still being redone.

* Web Wallet *

Web Wallet is BIP32 deterministic - your Counterwallet testnet login should work.

Wallet does not currently display any unconfirmed transactions (including your own)
- this will be implemented soon.

Wallet is not Security tested - you may loose your Testnet BTC.

* Betting *
All Times are in UTC / GM.

Addresses must have been used at least once to send a Bitcoin Transaction in order
for XCPfeeds to find the Pubkey_hex, betting is not currently 'wallet address book'
conscious, so even using xcpfeeds wallet the address must have been used at least once
prior for a valid tx to be created.

Selecting a team will auto select the best odds if there are open bets available for the team.


* Known Issues *
Display Glitch for the Odds Slider Using Chrome (or Chromium) when loading a Binary Bet view for the first time.
Pixelated loading wheel on Firefox.


*******

I will lack a stable internet connection until Thursday or Friday of this week, so advanced apologies if I am not able to respond to bug reports promptly.

Bug reports and comments: https://forums.counterparty.co/index.php/topic,329

[xibeijan]

Is there a traceback printing in counterpartyd.log? If so, that would probably have a line number to the error. If it's something we haven't fixed, we'll get it fixed once we know the location (given that you said you already patched the bug we already fixed).

This is in the api.error.log:

Code:

[14/Apr/2014:10:20:11] HTTP Traceback (most recent call last):
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/_cprequest.py", line 656, in respond
    response.body = self.handler()
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/lib/encoding.py", line 188, in __call__
    self.body = self.oldhandler(*args, **kwargs)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/cherrypy/_cpdispatch.py", line 34, in __call__
    return self.callable(*self.args, **self.kwargs)
  File "/home/jeremy/counterpartyd_build/dist/counterpartyd/lib/api.py", line 445, in index
    response = JSONRPCResponseManager.handle(data, dispatcher)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/manager.py", line 47, in handle
    request = JSONRPCRequest.from_json(request_str)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc.py", line 22, in from_json
    return JSONRPC10Request.from_json(json_str)
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc1.py", line 93, in from_json
    method=data["method"], params=data["params"], _id=data["id"]
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/base.py", line 12, in __init__
    self.params = params
  File "/home/jeremy/counterpartyd_build/env/lib/python3.3/site-packages/jsonrpc/jsonrpc1.py", line 57, in params
    raise ValueError("Incorrect params {}".format(value))
ValueError: Incorrect params {'filters': [{'field': 'address', 'value': 'addressRedacted', 'op': '=='}]}

Eh...unfortunately not very helpful, due to the nature of that error. We'll have ouziel find and fix this 'a' bug in master tomorrow morning first thing (as well as a counterwallet mobile bug Swarm was having problems with).

Yeah, this is pretty bad and needs fixed.

[Kalkuuuta]

I just realized that XCP is perfect for issuing digital currencies backed by real assets.
(Others may have written about this before, so forgive me if I "steal" these thoughts ... )


Unlike altcoins, you don't need to fear the network collapsing any more than you need for bitcoin.

Therefore XCP is the perfect platform for issuing an asset/coin, right?

Now say you own a shop and want customers to pay in a crytpo-currency because it's convenient and has low fees. The problem with bitcoin is volatility. Therefore you issue CRYPTODOLLAR which you back by USD. How you do it is simply that you put your asset for sale at the price of one dollar measured in bitcoins. Your asking price always adjusts up and down according to BTC's price. You also promise always to buy back at 99 cents, so that customers only faces a tiny spread (kinda like ETFs on the stock exchange are priced).

As long as your customers trust that you'll always buy back their CRYPTODOLLARS they have a cryptocurruency with zero volatility. To gain this trust you may have an audited bank account with the same amount of dollars as you've issued of these assets. The same can be done backed by gold, silver, or anything else.

In terms of betting this could work just as well. Xbet.io is an excellent service, but it's difficult to get the XCPs needed to bet. The spread is large and the volume is low. If someone trustworthy issues a CASIONDOLLAR or similar based on the description above, it becomes more user friendly. At the moment, though, this may be impossible (If I understood correct) since only XCPs are possible to use for betting. But in a future update of Counterparty any asset can be used, am I right?

Yes.

Couple page ago here was speculating about price and betting option one big reason for get price higher. If all assets are coming possible for use betting what you think for XCP price happen when that no need still?

[porqupine]

I just realized that XCP is perfect for issuing digital currencies backed by real assets.
(Others may have written about this before, so forgive me if I "steal" these thoughts ... )


Unlike altcoins, you don't need to fear the network collapsing any more than you need for bitcoin.

Therefore XCP is the perfect platform for issuing an asset/coin, right?

Now say you own a shop and want customers to pay in a crytpo-currency because it's convenient and has low fees. The problem with bitcoin is volatility. Therefore you issue CRYPTODOLLAR which you back by USD. How you do it is simply that you put your asset for sale at the price of one dollar measured in bitcoins. Your asking price always adjusts up and down according to BTC's price. You also promise always to buy back at 99 cents, so that customers only faces a tiny spread (kinda like ETFs on the stock exchange are priced).

As long as your customers trust that you'll always buy back their CRYPTODOLLARS they have a cryptocurruency with zero volatility. To gain this trust you may have an audited bank account with the same amount of dollars as you've issued of these assets. The same can be done backed by gold, silver, or anything else.

In terms of betting this could work just as well. Xbet.io is an excellent service, but it's difficult to get the XCPs needed to bet. The spread is large and the volume is low. If someone trustworthy issues a CASIONDOLLAR or similar based on the description above, it becomes more user friendly. At the moment, though, this may be impossible (If I understood correct) since only XCPs are possible to use for betting. But in a future update of Counterparty any asset can be used, am I right?

Yes.

Couple page ago here was speculating about price and betting option one big reason for get price higher. If all assets are coming possible for use betting what you think for XCP price happen when that no need still?

You wouldn't enable more than one asset for betting - because that would decrease contract liquidity, and hence hurt protocol utility as a whole.

Edit: Also trust based issuance of tokens like dollars or euros is only useful in special cases  - in most cases it's much preferable to make a CFD and not have to trust an issuer...

[cityglut]

I just realized that XCP is perfect for issuing digital currencies backed by real assets.
(Others may have written about this before, so forgive me if I "steal" these thoughts ... )


Unlike altcoins, you don't need to fear the network collapsing any more than you need for bitcoin.

Therefore XCP is the perfect platform for issuing an asset/coin, right?

Now say you own a shop and want customers to pay in a crytpo-currency because it's convenient and has low fees. The problem with bitcoin is volatility. Therefore you issue CRYPTODOLLAR which you back by USD. How you do it is simply that you put your asset for sale at the price of one dollar measured in bitcoins. Your asking price always adjusts up and down according to BTC's price. You also promise always to buy back at 99 cents, so that customers only faces a tiny spread (kinda like ETFs on the stock exchange are priced).

As long as your customers trust that you'll always buy back their CRYPTODOLLARS they have a cryptocurruency with zero volatility. To gain this trust you may have an audited bank account with the same amount of dollars as you've issued of these assets. The same can be done backed by gold, silver, or anything else.

In terms of betting this could work just as well. Xbet.io is an excellent service, but it's difficult to get the XCPs needed to bet. The spread is large and the volume is low. If someone trustworthy issues a CASIONDOLLAR or similar based on the description above, it becomes more user friendly. At the moment, though, this may be impossible (If I understood correct) since only XCPs are possible to use for betting. But in a future update of Counterparty any asset can be used, am I right?

Yes.

Couple page ago here was speculating about price and betting option one big reason for get price higher. If all assets are coming possible for use betting what you think for XCP price happen when that no need still?

You wouldn't enable more than one asset for betting - because that would decrease contract liquidity, and hence hurt protocol utility as a whole.

Edit: Also trust based issuance of tokens like dollars or euros is only useful in special cases  - in most cases it's much preferable to make a CFD and not have to trust an issuer...

There are some much more interesting and much more obvious use-cases for Counterparty assets in derivatives than CFDs; futures, for example.

EDIT: Original post was redundant with porqupine.