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mitache365
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January 17, 2015, 09:10:51 AM |
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Hi Guys, just arrived here and very excited that i have found this project  Well done getting it to where you have awesome project! Question on smartcontracts please, is it already possible to create a smart contract within counterparty now? I have only just got a wallet and cannot seem to find how  Or is it a work in progress? Thanks They are live on testnet now and will be live on mainnet around March. Do i understand good that counterparty will implanting smart contracts? (didn't read the page history in this thread) right understanding |
BTC
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penoze
Legendary
 Offline
Activity: 1235
Merit: 1003
https://minepi.com/cryptomeneer
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January 17, 2015, 09:28:48 AM |
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Hi Guys, just arrived here and very excited that i have found this project Well done getting it to where you have awesome project! Question on smartcontracts please, is it already possible to create a smart contract within counterparty now? I have only just got a wallet and cannot seem to find how Or is it a work in progress? Thanks They are live on testnet now and will be live on mainnet around March. Do i understand good that counterparty will implanting smart contracts? (didn't read the page history in this thread) right understanding Okay thanks for the information.  |
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deliciousowl
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January 17, 2015, 09:38:27 AM |
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is it possible to block masterxchange's wallet on Counterparty network ?
Counterparty network = Bitcoin network. It's impossible to block or restrict access for anyone. If you have internet, you can always use the Bitcoin network. |
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mishax1
Legendary
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Activity: 2898
Merit: 1017
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January 17, 2015, 09:47:20 AM |
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is it possible to block masterxchange's wallet on Counterparty network ?
Counterparty assets are trapped there
Requested withdrawal 3 days ago (a lot more than 48 hours) and got nothing
no answer from their support
yet another reason to use decentralized exchange...
Never had any problems with masterxchange and usually all withdrawals take less than 24 hours.. never more than 48 hours. Did you try to cancel your pending process and withdraw again ? |
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dexX7
Legendary
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Activity: 1106
Merit: 1024
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January 17, 2015, 03:05:56 PM |
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Just looking for a clean way to tie a customers personal delivery address (without making it public) to their redeemed counterparty vouchers eliminating the risk of anyone gaming it somehow. The only alternative to something like message signing that I can immediately think of would be to take it on trust people are making valid claims to addresses that they can publicly see on the Blockchain, which I don't thinks feasible. This sounds similar to a regular BTC purchase. Maybe you could create a new receiving address for each customer and the process would be the other way around: a) customer provides delivery address, b) shop (...) reveales unqiue destination to send the voucher to, c) customer sends voucher. |
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gumcruise
Newbie
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Activity: 35
Merit: 0
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January 17, 2015, 04:28:07 PM |
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Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?
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Matt Y
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January 17, 2015, 04:41:48 PM |
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Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?
They are infinitely divisible and the rate at which XCP is burned in order to fuel the contracts is floating. While we will never run out, XCP is probably going to be fairly deflationary. |
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Anotheranonlol
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January 17, 2015, 04:56:19 PM |
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Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?
Like Matt said the XCP fees used in computation of smart contracts aren't constant values as they are in ethereum (like 1 XCP no matter what), but fractions of the total supply of XCP. Moreover XCP is divisible, So just as an example: if there were only 1 XCP available a smart contract might cost 0.000001 XCP to run (and everyone would own fractions of a single XCP). Whereas if there were 1,000,000 XCP available a smart contract might cost 1 XCP to run. In both cases the amount of XCP in relation to the total supply, and roughly dollar worth of the XCP spent on running a contract could (and usually would be expected) to be the same, since In an efficient market you'd expect the opportunity cost of spending XCP to execute a smart contract would remain competitive. Nobody is going to spend $500 equivalent in XCP to run a smart contract that embeds a hash in the blockchain |
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gumcruise
Newbie
Offline
Activity: 35
Merit: 0
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January 17, 2015, 07:20:20 PM |
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Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?
Like Matt said the XCP fees used in computation of smart contracts aren't constant values as they are in ethereum (like 1 XCP no matter what), but fractions of the total supply of XCP. Moreover XCP is divisible, So just as an example: if there were only 1 XCP available a smart contract might cost 0.000001 XCP to run (and everyone would own fractions of a single XCP). Whereas if there were 1,000,000 XCP available a smart contract might cost 1 XCP to run. In both cases the amount of XCP in relation to the total supply, and roughly dollar worth of the XCP spent on running a contract could (and usually would be expected) to be the same, since In an efficient market you'd expect the opportunity cost of spending XCP to execute a smart contract would remain competitive. Nobody is going to spend $500 equivalent in XCP to run a smart contract that embeds a hash in the blockchain So as more and more contracts are running, it will be possible to run more and more with 1 XCP as time goes on? |
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SalimNagamato
Legendary
Offline
Activity: 924
Merit: 1000
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January 17, 2015, 08:14:17 PM
Last edit: January 17, 2015, 08:35:41 PM by SalimNagamato |
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is it possible to block masterxchange's wallet on Counterparty network ?
Counterparty assets are trapped there
Requested withdrawal 3 days ago (a lot more than 48 hours) and got nothing
no answer from their support
yet another reason to use decentralized exchange...
Never had any problems with masterxchange and usually all withdrawals take less than 24 hours.. never more than 48 hours. Did you try to cancel your pending process and withdraw again ? i also never had problem with withdrawals in the past, usually took less than 48 hours. but support email won't even answer emails edit: btw i was not trying to arbitrage or anything .requested an Asset withdrawal long before it was added in another exchange.. (reqruested withdraw 1/14.. ) should at least warn everybody about this and look if their wallet moves assets to sell them. this is masterxchange's Counterparty wallet http://blockscan.com/address?q=1XCPvihttZTyc1uJf3tx4ht9RLsajwxhHso i'm not the only one waiting for withdrawals for so long (>3 days now) |
not hashing, folding and curing (check FLDC merged-folding! reuse good GPUs) |
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Matt Y
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January 17, 2015, 08:20:26 PM |
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Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?
Like Matt said the XCP fees used in computation of smart contracts aren't constant values as they are in ethereum (like 1 XCP no matter what), but fractions of the total supply of XCP. Moreover XCP is divisible, So just as an example: if there were only 1 XCP available a smart contract might cost 0.000001 XCP to run (and everyone would own fractions of a single XCP). Whereas if there were 1,000,000 XCP available a smart contract might cost 1 XCP to run. In both cases the amount of XCP in relation to the total supply, and roughly dollar worth of the XCP spent on running a contract could (and usually would be expected) to be the same, since In an efficient market you'd expect the opportunity cost of spending XCP to execute a smart contract would remain competitive. Nobody is going to spend $500 equivalent in XCP to run a smart contract that embeds a hash in the blockchain So as more and more contracts are running, it will be possible to run more and more with 1 XCP as time goes on? Yeah. |
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BldSwtTrs
Legendary
Offline
Activity: 861
Merit: 1010
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January 17, 2015, 08:32:07 PM |
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Yes, the situation is unclear---sorry, we just can't say much at the moment. There'll be some relevant (positive) announcements very soon, though! Suffice it to say that Evan, Robby and I will all be working on Counterparty for the forseeable future.
When is very soon? |
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SalimNagamato
Legendary
Offline
Activity: 924
Merit: 1000
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January 17, 2015, 10:49:07 PM |
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their deposit works, withdrawal won't... much logic ? nope |
not hashing, folding and curing (check FLDC merged-folding! reuse good GPUs) |
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mtbitcoin
Legendary
Offline
Activity: 876
Merit: 1000
Etherscan.io
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January 18, 2015, 07:05:36 AM
Last edit: January 18, 2015, 07:34:42 AM by mtbitcoin |
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their deposit works, withdrawal won't... much logic ? nope Deposits are easy to process as these are just bitcoin addresses. You can easily check if the coins have been received. But managing withdrawals take additional thought ..... |
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ElTomeko27
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January 18, 2015, 10:15:36 AM |
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There is a bit of confusion in the air with regards to some of the recent quotes by the Overstock CEO and the various interpretations of them. It's arguable that they do seem to be getting progressively vague and I can see why some might get the idea this is Byrne distancing himself, while others adopt the mindset it's business as usual in the background and recent price action is just an excuse to take advantage of a price dip based on skewed info. I'd expect the developers to be under some sort of NDA preventing them from saying too much beyond what's already said so I don't think you will be able to rely on full clarifications right now.
It's a shame to see hot/cold snippets trickle down into the news then waves of buying or selling based simply on said snippets, although it's not as if you would expect market participants to not react to them. A binary yes or no, or no news at all would be preferable. However Let's not forget CounterParty has great value potential since far before Medici was ever announced, has continued to show great promise more than a year later with incredible unexpected additions like turing complete scripting language, multisig, to name just two. Hope that we don't stay in a cycle of ups and downs with everything revolving around the currently non-existant Medici
Yes, the situation is unclear---sorry, we just can't say much at the moment. There'll be some relevant (positive) announcements very soon, though! Suffice it to say that Evan, Robby and I will all be working on Counterparty for the forseeable future. Well I dont know what kind of a "positive announcements" You got but If XCP alliance with Overstock is broken price will fall to 0.005... |
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gumcruise
Newbie
Offline
Activity: 35
Merit: 0
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January 18, 2015, 11:09:04 AM |
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Well I dont know what kind of a "positive announcements" You got but If XCP alliance with Overstock is broken price will fall to 0.005...
If the posters in this thread are accurate about smart contracts payments then I really really doubt it will ever go that low. The decentralized stock exchange already works... as someone else said, XCP has endless utility beyond Overstock... lets get more excited about decentralized things |
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ElTomeko27
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January 18, 2015, 12:23:49 PM |
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Well I dont know what kind of a "positive announcements" You got but If XCP alliance with Overstock is broken price will fall to 0.005...
If the posters in this thread are accurate about smart contracts payments then I really really doubt it will ever go that low. The decentralized stock exchange already works... as someone else said, XCP has endless utility beyond Overstock... lets get more excited about decentralized things Smart contracts were copied from Ethereum so probably many other will do the same... We need a statement what is going on  |
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deliciousowl
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January 18, 2015, 12:32:50 PM |
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Smart contracts were copied from Ethereum so probably many other will do the same... We need a statement what is going on Many can do the same, but they have 1 year of catching up to do (or would not use BTC as a platform). Nor do I doubt that anyone would be as generous as the XCP founders, to self-fund their development. Also, first mover advantage and all that. Also if someone has the idea, skill and motivation to do so, they will likely just apply to be hired by XCP. (So they can work on an existing, and repeatedly audited platform). I don't see a logical motivator to push forward on another BTC-based platform. If the motivation is profit, proof-of-burn remains superior. If the motivation is technological, they can work on existing open-source XCP software. You have to realize that companies like Overstock issue NDA's (non-disclosure agreements) that people have to sign. They can't say anything, it's in their contract. It's up to Overstock to make the announcement, not Counterparty devs. |
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ElTomeko27
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January 18, 2015, 12:53:37 PM |
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Smart contracts were copied from Ethereum so probably many other will do the same... We need a statement what is going on Many can do the same, but they have 1 year of catching up to do (or would not use BTC as a platform). Nor do I doubt that anyone would be as generous as the XCP founders, to self-fund their development. Also, first mover advantage and all that. Also if someone has the idea, skill and motivation to do so, they will likely just apply to be hired by XCP. (So they can work on an existing, and repeatedly audited platform). I don't see a logical motivator to push forward on another BTC-based platform. If the motivation is profit, proof-of-burn remains superior. If the motivation is technological, they can work on existing open-source XCP software. You have to realize that companies like Overstock issue NDA's (non-disclosure agreements) that people have to sign. They can't say anything, it's in their contract. It's up to Overstock to make the announcement, not Counterparty devs. Patrick Byrne talks with cointelegraph CT: Will Medici only be working with Counterparty? PB: No. There are two different projects. Medici is one product, and Counterparty is a different set of developers. They are not tied together, although they will have certain shared relationships. CT: What and when is the first deliverable for Medici? PB: The technology platform that would allow us to issue a crypto-security and have our own crypto-coin, we can finish in Q1 [first quarter] So what is the XCP role in this project?? |
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