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

[profitofthegods]

Small start-up? Did you look at the people involved in Symbiont? 

Lol, yes you have a point. But relatively speaking they are small compared to NASDAQ.

[1715181859]

1715181859

[1715181859]

1715181859

[yodark]

Hello Everyone ! Here is a little bounty for 0.5 BTC

Hello Everyone

I have a little bounty. A little hack into an existing wallet

I would like you to take breadwallet ios source code.  https://github.com/voisine/breadwallet

Look under

Code:

- (BOOL)signTransaction:(BRTransaction *)transaction

and see if you can replace the transaction object in order to include a transaction generated by the counterparty API output :

From : http://counterparty.io/docs/api/#transaction-encodings
Send 1 XCP (specified in satoshis) from one address to another.

Code:

payload = {
           "method": "create_send",
           "params": {
                      "source": "1CUdFmgK9trTNZHALfqGvd8d6nUZqH2AAf",
                      "destination": "17rRm52PYGkntcJxD2yQF9jQqRS4S2nZ7E",
                      "asset": "XCP",
                      "quantity": 1
                     },
           "jsonrpc": "2.0",
           "id": 0,
          }

I expect two outcomes
The outcome would to the feasibility is  :

1. Done the source code has been updated to include a hard coded transaction request to the API that can be signed and broadcasted
2. Source code not updated but with a detailed description why this function can't be used out of the box and why.

Second output

Is a rough estimate about half a page on what would it take to implement counterparty API to breadwallet source code. This mean allowing people to view and send not only bitcoin but other asset counterparty.

Depending on the feasibility we might we could start a bigger the full project.

Thank you a lot

[pankogulo]

New community update is live at http://counterparty.io/news/counterparty-update-may-15/ (We're transferring support to CounterpartyTalk.org, so please read this one)

[bitcoinrocks]

How feasible would it be for the Bitcoin devs to duplicate Counterparty's functionality without the XCP coin?

[Matt Y]

How feasible would it be for the Bitcoin devs to duplicate Counterparty's functionality without the XCP coin?

It's not possible.

[bitcoinrocks]

How feasible would it be for the Bitcoin devs to duplicate Counterparty's functionality without the XCP coin?

It's not possible.

What would make it impossible?  I was just digging around and found this post from over a year ago with the opposite answer to the same question:

https://bitcointalk.org/index.php?topic=395761.msg5467658#msg5467658

[Matt Y]

How feasible would it be for the Bitcoin devs to duplicate Counterparty's functionality without the XCP coin?

It's not possible.

What would make it impossible?  I was just digging around and found this post from over a year ago with the opposite answer to the same question:

https://bitcointalk.org/index.php?topic=395761.msg5467658#msg5467658

That person is wrong. I'll let someone who's more technical take the question from here if they have any interest. I'd not worry about it though, if that's what you're doing, worrying about an investment you made in XCP.

[bitcoinrocks]

How feasible would it be for the Bitcoin devs to duplicate Counterparty's functionality without the XCP coin?

It's not possible.

What would make it impossible?  I was just digging around and found this post from over a year ago with the opposite answer to the same question:

https://bitcointalk.org/index.php?topic=395761.msg5467658#msg5467658

That person is wrong. I'll let someone who's more technical take the question from here if they have any interest. I'd not worry about it though, if that's what you're doing, worrying about an investment you made in XCP.

Can you tell me in conceptual terms why it can't be done?  Why can counterpartyd do something that bitcoind can't do?  That doesn't make sense to me.

[bitcoinrocks]

Another thing that's been bugging me.  What is the incentive to run a Counterparty node?  If there is no strong incentive, how can we hope to have a strong network?  It would be like a secure database (Bitcoin) with an otherwise vulnerable application stack (Counterparty).

[samgeneric]

How feasible would it be for the Bitcoin devs to duplicate Counterparty's functionality without the XCP coin?

It's not possible.

What would make it impossible?  I was just digging around and found this post from over a year ago with the opposite answer to the same question:

https://bitcointalk.org/index.php?topic=395761.msg5467658#msg5467658

That person is wrong. I'll let someone who's more technical take the question from here if they have any interest. I'd not worry about it though, if that's what you're doing, worrying about an investment you made in XCP.

Can you tell me in conceptual terms why it can't be done?  Why can counterpartyd do something that bitcoind can't do?  That doesn't make sense to me.

How big of a concern is it that Bitcoin could build Counterparty-esque functionality directly into their protocol?

It's not possible. Bitcoin can't escrow value, which means that you can't build (decentralized) smart contracts directly onto it. That's the value of XCP. It can actually act as a value escrow.

The reason it won't be built into the BTC protocol is because it's a huge risk. It would get away from BTC's main function as an engine for settling BTC transactions. As you see with colored coins, you can do some asset registration if you're creative. But you will never be able to escrow value on Bitcoin.

[bitcoinrocks]

How big of a concern is it that Bitcoin could build Counterparty-esque functionality directly into their protocol?

It's not possible. Bitcoin can't escrow value, which means that you can't build (decentralized) smart contracts directly onto it. That's the value of XCP. It can actually act as a value escrow.

Very interesting, thank you.  Is any data stored in the Counterparty network or is everything stored on the Bitcoin blockchain?

EDIT: Is escrow critical in some, most, or all of Counterparty's functions?

[Cornett]

How feasible would it be for the Bitcoin devs to duplicate Counterparty's functionality without the XCP coin?

It's not possible.

What would make it impossible?  I was just digging around and found this post from over a year ago with the opposite answer to the same question:

https://bitcointalk.org/index.php?topic=395761.msg5467658#msg5467658

It is not possible.

[bitcoinrocks]

Bear with me guys, I'm trying to think this through....

Why would anyone want to build an application that stores data on a blockchain?  It can be an extremely secure database, but any centralized third party service that reads/writes to/from that blockchain is naturally susceptible to tampering.  What good is an ultra-secure database if read/write access to it is not any more secure than the centralized services of today?

[Praxis]

Sorry to interrupt the convo. I'm just curious what you guys think about the current price of XCP? Why is it steadily falling, and what are your predictions for the future?

[Cornett]

Sorry to interrupt the convo. I'm just curious what you guys think about the current price of XCP? Why is it steadily falling, and what are your predictions for the future?

Seeking the bottom at this range. It's not falling, it's just bouncing at the lows

[Praxis]

Sorry to interrupt the convo. I'm just curious what you guys think about the current price of XCP? Why is it steadily falling, and what are your predictions for the future?

Seeking the bottom at this range. It's not falling, it's just bouncing at the lows

I see. I've been away from the Bitcoin world for quite a long time and upon coming back I researched "Bitcoin 2.0" projects and Counterparty seems the most promising right now, so I was surprised to see the price falling steadily and the low trade volume.

Seems like a good time to invest!

[Matt Y]

Sorry to interrupt the convo. I'm just curious what you guys think about the current price of XCP? Why is it steadily falling, and what are your predictions for the future?

There is little interest outside of current holders as everyone is on the sidelines waiting for more definitive proof that the protocol adds value and will be used. The next possible price trigger is Symbiont announcing stuff or smart contracts going live on mainnet, followed by the lesser possibility of an as of yet unannounced new entrant in the space who is leveraging the Counterparty protocol. Until something along those lines happens, the price and volume will languish and that's not a huge deal.My opinion is that Symbiont will prove out a model and after that, others will come in. Also, if you do some searching around LinkedIn and the internet in general, you will find a few banks have crypto 2.0 guys now and that there is gathering interest in the space. I assume Counterparty is doing biz dev with these folks now and that the fruits of that labor will become public months down the road if anything comes from it.

[Praxis]

Sorry to interrupt the convo. I'm just curious what you guys think about the current price of XCP? Why is it steadily falling, and what are your predictions for the future?

There is little interest outside of current holders as everyone is on the sidelines waiting for more definitive proof that the protocol adds value and will be used. The next possible price trigger is Symbiont announcing stuff or smart contracts going live on mainnet, followed by the lesser possibility of an as of yet unannounced new entrant in the space who is leveraging the Counterparty protocol. Until something along those lines happens, the price and volume will languish and that's not a huge deal.My opinion is that Symbiont will prove out a model and after that, others will come in. Also, if you do some searching around LinkedIn and the internet in general, you will find a few banks have crypto 2.0 guys now and that there is gathering interest in the space. I assume Counterparty is doing biz dev with these folks now and that the fruits of that labor will become public months down the road if anything comes from it.

Thanks for the in-depth answer! Much appreciated. The more I read about Counterparty, the more I like it.

[bitcoinrocks]

I'd like to transfer some of my XCP to another address.  I believe the only way I can do that is by importing the current address's private key into Counterwallet which will then sweep all of my XCP into Counterwallet.  Then I have to return the remaining XCP back to my original address, and then I feel weird because I've put my address's private key online.  Is there a better way to move XCP?

[Bank_sy]

Sorry to interrupt the convo. I'm just curious what you guys think about the current price of XCP? Why is it steadily falling, and what are your predictions for the future?

There is little interest outside of current holders as everyone is on the sidelines waiting for more definitive proof that the protocol adds value and will be used. The next possible price trigger is Symbiont announcing stuff or smart contracts going live on mainnet, followed by the lesser possibility of an as of yet unannounced new entrant in the space who is leveraging the Counterparty protocol. Until something along those lines happens, the price and volume will languish and that's not a huge deal.My opinion is that Symbiont will prove out a model and after that, others will come in. Also, if you do some searching around LinkedIn and the internet in general, you will find a few banks have crypto 2.0 guys now and that there is gathering interest in the space. I assume Counterparty is doing biz dev with these folks now and that the fruits of that labor will become public months down the road if anything comes from it.

Thanks for the in-depth answer! Much appreciated. The more I read about Counterparty, the more I like it.

i think so too but progress seems so slow....