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

[delulo]

Does someone have a quick summary on...

1) the (potential) reason(s) for the price appreciation.

2) for the use of XCP in the entrepreneurial efforts of the Counterparty founders.

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[1714017491]

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[Matt Y]

Does someone have a quick summary on...

1) the (potential) reason(s) for the price appreciation.

2) for the use of XCP in the entrepreneurial efforts of the Counterparty founders.

You can either scroll up and read the thread, or click this link: http://shitco.in/2015/06/13/life-is-a-pump-and-dump-front-run-the-xcp-pump/

Actually a nice article on your exact questions.

[Matt Y]

It's actually disappointing that it only went up as much as it did on volume that's still so low. We'll see what happens in the coming days.

Well, Symbiont faith is not 100% ties to XCP, I heard xnova said that their startup consults about blockchain solutions, not specifically about Counterparty.

Not sure where you heard that. Link?

They are building on Counterparty technology and Symbiont using Counterparty while not using XCP is similar to saying BitPay is using the blockchain, but not using bitcoins.

https://www.youtube.com/watch?v=FUZJ0QRjVUI#

It starts at 56:40.
He said private blockchains have merits, Symbiont take a pragmatic approach and is about helping clients to fullfil their needs. By default they use BTC/XCP but he admits that it might not always be the most appropriate solution for their clients, so they will adapt.

I think what he said and what Symbiont plan to do is smart, but that means their business model is not ties to the success of Counterparty.

I think you misinterpreted the answer a bit. The Symbiont model is built on top Bitcoin/Counterparty. Symbiont may also serve other needs of clients, which may include private blockchain. It's a trillion dollar market and this is fine.

I guess my gripe is you overlook everything where they say they will use Counterparty to find the one sound bite that says that in the end they "serving clients' needs" and *some* clients *may* have needs that are X or Y. I'd say that if you think having smart contracts on Bitcoin is going to solve the issues of even some businesses, then you're good to invest in Counterparty because they are the only people who do that. If you think everyone will want their own private blockchain and nobody will use smart contracts on Bitcoin, then sell all your XCP now, if you own any.

[Matt Y]

I still think we're confusing terms.  It sounds like some people are concerned that Symbiont won't be using Counterparty exclusively and others are concerned that Symbiont will be using Counterparty without XCP.  I believe the former is true and that's fine.  We already know they're using Ripple for sure.  I think the odds that Symbiont would use Counterparty without XCP are zero.  They're the original Counterparty devs so they obviously believe in the utility of the currency unit.

Symbiont can :
- consult about using Counterparty without leveraging XCP
- consult about using blockchains other than the Bitcoin blockchain

These are facts, not opinions. Symbiont is here to make money, this is its responsability to its shareholders, and it will not hinder that goal by ideologically limiting its options.

It's like Coinbase, Coinbase doesn't care if an altcoin dethrone BTC because it still will be able to monetize its client base.
Valuation of startups like Coinbase and Symbiont are only partially related to the valuation of one specific protocol.

This is the opposite of a fact. You can't use Counterparty in any meaningful way without using XCP.

With regards to your Coinbase example. If some altcoin displaced Bitcoin, which will never happen, Counterparty could attach itself to the new coin.

[qqqq]

Why support function of counterparty wallet doesn't work ?

failoverAPI: Call failed (failed over across all servers). Method: create_support_case; Last error: JSON-RPC Error:
Type: Server error

Code: -32000

Message: Sending of support emails are disabled on the server: no SUPPORT_EMAIL address set

[Matt Y]

There are some stimated release date for symbiont?

Ethereum is not accepting pull requests from Counterparty. Counterparty does not want to fork the Ethereum VM code so that if/when Ethereum fails all the Ethereum devs can move to Counterparty/Bitcoin without any issue. No rewriting of code required, their smart contracts will automatically work on Counterparty.

[Matt Y]

Why support function of counterparty wallet doesn't work ?

failoverAPI: Call failed (failed over across all servers). Method: create_support_case; Last error: JSON-RPC Error:
Type: Server error

Code: -32000

Message: Sending of support emails are disabled on the server: no SUPPORT_EMAIL address set

They removed this and noted it in the last community update, I think. You should look for support on Counterpartytalk.org.

[BldSwtTrs]

It's actually disappointing that it only went up as much as it did on volume that's still so low. We'll see what happens in the coming days.

Well, Symbiont faith is not 100% ties to XCP, I heard xnova said that their startup consults about blockchain solutions, not specifically about Counterparty.

Not sure where you heard that. Link?

They are building on Counterparty technology and Symbiont using Counterparty while not using XCP is similar to saying BitPay is using the blockchain, but not using bitcoins.

https://www.youtube.com/watch?v=FUZJ0QRjVUI#

It starts at 56:40.
He said private blockchains have merits, Symbiont take a pragmatic approach and is about helping clients to fullfil their needs. By default they use BTC/XCP but he admits that it might not always be the most appropriate solution for their clients, so they will adapt.

I think what he said and what Symbiont plan to do is smart, but that means their business model is not ties to the success of Counterparty.

I think you misinterpreted the answer a bit. The Symbiont model is built on top Bitcoin/Counterparty. Symbiont may also serve other needs of clients, which may include private blockchain. It's a trillion dollar market and this is fine.

I guess my gripe is you overlook everything where they say they will use Counterparty to find the one sound bite that says that in the end they "serving clients' needs" and *some* clients *may* have needs that are X or Y. I'd say that if you think having smart contracts on Bitcoin is going to solve the issues of even some businesses, then you're good to invest in Counterparty because they are the only people who do that. If you think everyone will want their own private blockchain and nobody will use smart contracts on Bitcoin, then sell all your XCP now, if you own any.

It's quite possible that smart contracts on Bitcoin chain will solve some business issues while smart contracts on non-BTC chain will solve other issues. The future is not binary.

What I am saying is that Symbiont has more optionality than XCP. Symbiont could make money even if Counterparty turn out to be a failure.
The two investments have different optionality hence their relative valuation doesn't follow a simple linear relationship.

[qqqq]

Looks like a false alarm. Balance was updated after last distribution on 14 june but history page still stopped on 7 june.

[Matt Y]

It's quite possible that smart contracts on Bitcoin chain will solve some business issues while smart contracts on non-BTC chain will solve other issues. The future is not binary.

What I am saying is that Symbiont has more optionality than XCP. Symbiont could make money even if Counterparty turn out to be a failure.
The two investments have different optionality hence their relative valuation doesn't follow a simple linear relationship.

Yeah, but it would be a huge setback for Symbiont if Counterparty somehow failed. They just took on all three Counterparty founders and made them co-founders, which has a real cost of equity and money, and Symbiont (now including an ex NYSE CEO) is directly funding the development of Counterparty. Similarly, BitPay might not need Bitcoin to make money, but it would be a hell of a setback if Bitcoin turned out to be a failure.

For clarity: An ex CEO of the NYSE is funding Counterparty and its devs through his investment in Symbiont. That's ridiculously awesome.

[bitcoinrocks]

Has anyone used the Counterparty GUI?  Is it safe?

https://github.com/CounterpartyXCP/counterparty-gui

If I want to move a small amount of XCP out of my stash, is there any way to do so besides using the GUI or sweeping the entire thing into Counterwallet and sending the amount I don't want to move back to from where it came?

[romerun]

Has anyone used the Counterparty GUI?  Is it safe?

https://github.com/CounterpartyXCP/counterparty-gui

If I want to move a small amount of XCP out of my stash, is there any way to do so besides using the GUI or sweeping the entire thing into Counterwallet and sending the amount I don't want to move back to from where it came?

I used to use the command line of counterpartyd to send some to counterwallet

[bitcoinrocks]

Do that require me to run a full bitcoin node?

[Andrelvogue]

cool thx will wait for the first confirmation.

good, be on the look out

[bhokor]

Guys what do you think would be the  fair price of counterparty?

[BitThink]

Guys what do you think would be the  fair price of counterparty?

Current market price. The market is always right.

[gumcruise]

Guys what do you think would be the  fair price of counterparty?

3 trillion dollars

[Praxis]

Guys what do you think would be the  fair price of counterparty?

The word fair is not applicable. Whatever the current market price, that is the fair price. If it is $1, that's fair. If $1000 is the current market price, that is fair.  you want to know where its price will be in the future. Its potential. We all want to know... it depends on many factors and future events. It's entirely possible that XCP will be worth ten cents or one cent, or that one XCP will be worth 10 BTC. Since XCP's supply is much smaller than BTC, why not?
 

[Matt Y]

Someone just market dumped XCP down nearly 30% on poloniex, only avoiding taking us close  to the 0.003x ALL TIME LOW levels by a whisker, from a high of 0.0063 today!!.  Out of 100 measured altcoins it is currently THE BIGGEST LOSER. while most of the coins measured are firmly in the green, counterparty has dropped the most out of every single coin straight into the red

That is insane volatility, and considering there is no news published which could cause such a movement fairly depressing seeing the recent mini recovery so quickly squashed.

 I feel as if I have invested in a cursed coin because there is just no growth here over the last few months. Ever since overstock kicked the devs out there is nothing but people looking to jump from the sinking ship.  It's been on a downward slope with the slightest of increases quickly met with enough selling pressure to push the price back underwater.


wtf is going on? I have a basket of coins i have invested in,. almost every one is making profit including total shitcoins, whilst this coin has done nothing but cost me money by holding...It is undeniably my biggest loss in crypto despite looking quite promising... who is selling all these coins now??

Yeah, socks, however...

1. .004 is not .003, it's actually 25% away from it.
2. They left Overstock voluntarily.

What is going on is you have a lot of people who would like to sell, but they don't want to sell at current levels. When the price goes up, some people sell. Maybe they need money, maybe they are also superstitious and think XCP is cursed.

I think you'll need to see volume during rallies of hundreds of bitcoins a day and sustained rallies before the price goes and stays up.

Also worth noting is that the price went from .003 to .006 and is now at .0045. I'll take that if it means we're the biggest loser for today.

[bassclef]

I feel as if I have invested in a cursed coin...

Welcome to the world of altcoin investing. The crappy ones get pumped and good ones sit seemingly unnoticed. This is because they are dominated not by fundamentals, but by pump and dump groups whose sole purpose is to attract dumb money to increase their BTC holdings.