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

[Nick70001]

This is great news and when people realise the benefits of smart contracts on the Bitcoin blockchain, the price will rise.

[jokumat]

Determining whether to use XCP for gas, or an “XCPC” stake token that is periodically awarded to XCP holders by the protocol, based on their XCP holdings.

    If XCP is used, a solution to control the rate of deflation will need to be found, as unlike Ether, no additional XCP will be created. That, or XCP consumed could be frozen for some period of time, imposing an opportunity cost.
    If “XCPC” is used, the rate of generation and caps on the max number of XCPC in existence at any one time will need to be discussed and established.

--- XCPC token would be rather weird - yet another token, periodically freely airdropped to XCP owners, essentially at no cost. 
To execute a smart contract you can
1. buy some XCP,
2. get free gas (XCPC),
3. use the gas and sell your XCP.

--- Freezing instead of burning? This doesn't solve the problem. If many people freeze their XCP, it leads to the same distortion. The rate of freezing would have to be decreasing.     

--- Decrease the rate of deflation - maybe the best option? 

[BlueTemplar]

I would like to see Counterparty as one of the players that sticks around long term and shows up in the top 6

[xnova]

Determining whether to use XCP for gas, or an “XCPC” stake token that is periodically awarded to XCP holders by the protocol, based on their XCP holdings.

    If XCP is used, a solution to control the rate of deflation will need to be found, as unlike Ether, no additional XCP will be created. That, or XCP consumed could be frozen for some period of time, imposing an opportunity cost.
    If “XCPC” is used, the rate of generation and caps on the max number of XCPC in existence at any one time will need to be discussed and established.

--- XCPC token would be rather weird - yet another token, periodically freely airdropped to XCP owners, essentially at no cost. 
To execute a smart contract you can
1. buy some XCP,
2. get free gas (XCPC),
3. use the gas and sell your XCP.

--- Freezing instead of burning? This doesn't solve the problem. If many people freeze their XCP, it leads to the same distortion. The rate of freezing would have to be decreasing.     

--- Decrease the rate of deflation - maybe the best option? 

Re: freezing, I'm not sure the amount of XCP frozen at any one time would be material to the total amount of XCP in existence. If that is not the case, then some "scale down" coefficient can be introduced that will reduce the amount of coins frozen for a given smart contract execution as the total # of coins frozen at any one time increases. Schemes like that do add complexity, however, and I'd like to avoid them if it's not deemed totally necessary, at least for a first pass.

[yns1971]

Hey all, we just released the latest updated on Counterparty Smart Contracts: https://counterparty.io/news/proposal-for-ethereum-smart-contracts-on-counterparty-mainnet/

this is big. weird that everyone is silent in this thread.

hold your XCP

[johnybyo]

Hey all, we just released the latest updated on Counterparty Smart Contracts: https://counterparty.io/news/proposal-for-ethereum-smart-contracts-on-counterparty-mainnet/

this is big. weird that everyone is silent in this thread.

hold your XCP

XCP looking good long term investment. I think this is really like BTC 2.0 what markets adopt slowly but sure

[pookielax31]

The CounterParty is just starting 

[jurgised1]

XCP future looks promising. Is there some kind of development roadmap defined for this year? Would like to invest some to XCP for longer term after the pump/dump has settled down

[chunkyjunkie]

When you make an exchange order and your coins go into escrow, how long does it take to get those funds released from escrow when you cancel the order?

some of my funds have been locked in escrow for half the day now.

Edit-  They finally cleared.  How long does it usually take?  I was guessing it would take as long as they do to confirm in the blockchain, but it wasn't even close.

Thanks in advance.

[jokumat]

Determining whether to use XCP for gas, or an “XCPC” stake token that is periodically awarded to XCP holders by the protocol, based on their XCP holdings.

    If XCP is used, a solution to control the rate of deflation will need to be found, as unlike Ether, no additional XCP will be created. That, or XCP consumed could be frozen for some period of time, imposing an opportunity cost.
    If “XCPC” is used, the rate of generation and caps on the max number of XCPC in existence at any one time will need to be discussed and established.

--- XCPC token would be rather weird - yet another token, periodically freely airdropped to XCP owners, essentially at no cost. 
To execute a smart contract you can
1. buy some XCP,
2. get free gas (XCPC),
3. use the gas and sell your XCP.

--- Freezing instead of burning? This doesn't solve the problem. If many people freeze their XCP, it leads to the same distortion. The rate of freezing would have to be decreasing.     

--- Decrease the rate of deflation - maybe the best option? 

Re: freezing, I'm not sure the amount of XCP frozen at any one time would be material to the total amount of XCP in existence. If that is not the case, then some "scale down" coefficient can be introduced that will reduce the amount of coins frozen for a given smart contract execution as the total # of coins frozen at any one time increases. Schemes like that do add complexity, however, and I'd like to avoid them if it's not deemed totally necessary, at least for a first pass.

Freezing as a solution entirely depends on parameters. Especially time. Short term freezing is similar to XCPC solution. Long term freezing is similar to burning. Actually burning is a special case of freezing (infinity freezing).

If not really long-term, freezing basically means a near zero cost of the execution of smart contracts. Most XCP holders hold long term anyway.
First, the idea of zero cost goes against the principle of "gas". Second, XCP token would not be much useful in such a situation.

[TrevorXCP]

The 2016 Counterparty Foundation has been busy. Announcements include a monthly community meeting, website revamp, formation of an outreach group and more!

http://counterparty.io/news/counterparty-foundation-update/

[ancientcoins]

how do i deposit xcp on the decentralized exchange i deposited btc but how xcp

[Corepolitics]

how do i deposit xcp on the decentralized exchange i deposited btc but how xcp

You can simply send the XCP to the same address you sent the BTC to. The decentralized exchange platform can determine the balances of BTC, XCP and any assets owned on each address and allow you to transfer those in and out.

[sunerok]

i have an old scotcoin wallet, and i was wondering how i move the coins to the counterparty wallet.

[andulolika]

i have an old scotcoin wallet, and i was wondering how i move the coins to the counterparty wallet.

You said it has a wallet, i doubt an XCP asset has a wallet so i dont think you can move it.

[sunerok]

i have an old scotcoin wallet, and i was wondering how i move the coins to the counterparty wallet.

You said it has a wallet, i doubt an XCP asset has a wallet so i dont think you can move it.

didnt they all have a wallet at some time? how do you get coins from their old wallet into a counterparty wallet, is what i am asking?

[Matt Y]

i have an old scotcoin wallet, and i was wondering how i move the coins to the counterparty wallet.

You said it has a wallet, i doubt an XCP asset has a wallet so i dont think you can move it.

didnt they all have a wallet at some time? how do you get coins from their old wallet into a counterparty wallet, is what i am asking?

You import the private key. Shown here: https://www.dropbox.com/s/jtd7xwoy91lurqo/Screenshot%202016-05-20%2011.38.53.png?dl=0

[sunerok]

i have an old scotcoin wallet, and i was wondering how i move the coins to the counterparty wallet.

You said it has a wallet, i doubt an XCP asset has a wallet so i dont think you can move it.

didnt they all have a wallet at some time? how do you get coins from their old wallet into a counterparty wallet, is what i am asking?

You import the private key. Shown here: https://www.dropbox.com/s/jtd7xwoy91lurqo/Screenshot%202016-05-20%2011.38.53.png?dl=0

so is that the web based electrum wallet, or is there a qt/core binary as well?

[Matt Y]

i have an old scotcoin wallet, and i was wondering how i move the coins to the counterparty wallet.

You said it has a wallet, i doubt an XCP asset has a wallet so i dont think you can move it.

didnt they all have a wallet at some time? how do you get coins from their old wallet into a counterparty wallet, is what i am asking?

You import the private key. Shown here: https://www.dropbox.com/s/jtd7xwoy91lurqo/Screenshot%202016-05-20%2011.38.53.png?dl=0

so is that the web based electrum wallet, or is there a qt/core binary as well?

Counterwallet is a web wallet. https://wallet.counterwallet.io/

[cryptoVoodoo]

i have an old scotcoin wallet, and i was wondering how i move the coins to the counterparty wallet.

You said it has a wallet, i doubt an XCP asset has a wallet so i dont think you can move it.

didnt they all have a wallet at some time? how do you get coins from their old wallet into a counterparty wallet, is what i am asking?

You import the private key. Shown here: https://www.dropbox.com/s/jtd7xwoy91lurqo/Screenshot%202016-05-20%2011.38.53.png?dl=0

so is that the web based electrum wallet, or is there a qt/core binary as well?

Counterwallet is a web wallet. https://wallet.counterwallet.io/

A centralized wallet is vulnerable to attack.  I thought there was also a qt/core wallet.  I remember a python version.  What ever happened to it?  Is it or another qt/core wallet being updated in sync with the web wallet development?