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

[PhantomPhreak]

I just send you 14$ dev
To encourage your work.
Maybe not much, but still a little amount for me. 10x the first donation \o/
If 100 people do the same you're good

Thank you for the donation! Again, we're going to put all donated funds toward bounties for the development of Counterparty.

due to not having space on c:> drive, I created a VM in another drive with windows7 64bit to download qt. the blockchain will be downloaded in a few hours, and after that I will try the windows installer for the counteparty.
Should i modify anything after the installer? Should I add daemon=1 or not?

I will report any error.


Also, if i won't make it, and choose the blockchain.info path, will that be a problem for the future? I mean will it be difficult to send or get XCP?

You can burn with counterpartyd even if the blockchain is not up-to-date (though you have to be careful not to try to burn too much). Use the --force option (heh).

The option daemon=1 isn't important.

Using Blockchain.info for the burn means that you'll need to export the private key into Bitcoind before you can use the XCP you received.

[1714891089]

1714891089

[1714891089]

1714891089

[1714891089]

1714891089

[porqupine]

Code:

def create (db, source, quantity, test=False):
    # Try to make sure that the burned funds won’t go to waste.
    block_count = bitcoin.rpc('getblockcount', [])
    if block_count < config.BURN_START:
        raise exceptions.UselessError('The proof‐of‐burn period has not yet begun.')
    elif block_count > config.BURN_END:
        raise exceptions.UselessError('The proof‐of‐burn period has already ended.')

    # Check that a maximum of 1 BTC total is burned per address.
    burns = util.get_burns(db, address=source, validity='Valid')
    total_burned = sum([burn['burned'] for burn in burns])
    if quantity > (1 * config.UNIT - total_burned):
        raise exceptions.UselessError('A maximum of 1 BTC may be burned per address.')

Correct me if I'm wrong, but your burn validity check is only going to check sends through the counterpartyd cmd line. So if someone sends 1.001 Btc out of blockchain.info it will invalidate the entire transaction, meanwhile all of the Btc will burn?

[panonym]

So if someone sends 1.001 Btc out of blockchain.info it will invalidate the entire transaction, meanwhile all of the Btc will burn?

Kind of mean, but it doesn't botter me.
They can at least make the effort of reading the basic, stating 1 BTC max per address is easy to understand.

Again, we're going to put all donated funds toward bounties for the development of Counterparty.

That's awesome that you have enough money of your own.
You split all the reward of your work with the community.
Congrats! An example that many should get inspired by.

You can burn with counterpartyd even if the blockchain is not up-to-date [...]. Use the --force option (heh).
[...] or Using Blockchain.info

Personally I'm not confident with these two solutions.
Simply because there is no other way than using the soft for checking you do really have XCP.
And for this check, bitcoind must be sync/rescaned and XCPsoft installed correctly.

[xnova]

Personally I'm not confident with these two solutions.
Simply because there is no other way than using the soft for checking you do really have XCP.
And for this check, bitcoind must be sync/rescaned and XCPsoft installed correctly.

FYI, a website will be released soon. At minimum we'll have a simple way to check balances via a URL, so folks don't have to have counterpartyd installed to check the balance for a given address.

[PhantomPhreak]

Code:

def create (db, source, quantity, test=False):
    # Try to make sure that the burned funds won’t go to waste.
    block_count = bitcoin.rpc('getblockcount', [])
    if block_count < config.BURN_START:
        raise exceptions.UselessError('The proof‐of‐burn period has not yet begun.')
    elif block_count > config.BURN_END:
        raise exceptions.UselessError('The proof‐of‐burn period has already ended.')

    # Check that a maximum of 1 BTC total is burned per address.
    burns = util.get_burns(db, address=source, validity='Valid')
    total_burned = sum([burn['burned'] for burn in burns])
    if quantity > (1 * config.UNIT - total_burned):
        raise exceptions.UselessError('A maximum of 1 BTC may be burned per address.')

Correct me if I'm wrong, but your burn validity check is only going to check sends through the counterpartyd cmd line. So if someone sends 1.001 Btc out of blockchain.info it will invalidate the entire transaction, meanwhile all of the Btc will burn?

That's correct.

You can burn with counterpartyd even if the blockchain is not up-to-date (though you have to be careful not to try to burn too much). Use the --force option (heh).
[...] or Using Blockchain.info

Personally I'm not confident with these two solutions.
Simply because there is no other way than using the soft for checking you do really have XCP.
And for this check, bitcoind must be sync/rescaned and XCPsoft installed correctly.

Sure.

[panonym]

FYI, a website will be released soon. At minimum we'll have a simple way to check balances via a URL, so folks don't have to have counterpartyd installed to check the balance for a given address.

That's great
Try to make something similar to http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=275000
But total number of XCP and address check is fine to begin with.

Yet, even when it will be out, I still encourage people to install the soft.
Rescan soon over on my side.

[FandangledGizmo]

1CounterpartyXXXXXXXXXXXXXXXUWLpVr ?? OMG, I'm rich!   This is the exact address www.bitaddress.org randomly assigned me two weeks ago!  

Not really, obv.  I think it's funny though that some people are complaining that the initial reward isn't enough, while others say that it's too much.

As an idiot user, i.e. I will have to wait for simple blockchain instructions, I think it is too low, 2-3000 would have been more fair for the risk and effort involved. At the same time, the Devs would have been justified taking a % of the BTC for a development fund.

But when you think of later adoption of XCP, no-one can complain that early users were unfairly rewarded, if anything Devs and early adopters are under-rewarded for their contribution, but it's this sacrifice & POB now, combined with first mover advantage that gives XCP a real shot at being the winner long-term. Think of the MSM + $$$ in funding trying to pump some unfair/centralised issuance smart property system from JPM/GoldmanSachs vs. XCP.  

XCP makes a free man's decision very clear     https://www.youtube.com/watch?v=s9pxvL6zndI

[bitcoinrocks]

You can burn with counterpartyd even if the blockchain is not up-to-date (though you have to be careful not to try to burn too much). Use the --force option (heh).

The option daemon=1 isn't important.

Using Blockchain.info for the burn means that you'll need to export the private key into Bitcoind before you can use the XCP you received.

I'm trying to decide whether to burn with blockchain.info or counterpartyd.  If the former, can I export the private key into multibit to use the XCP?  If the latter, can I run counterpartyd and bitcoind in a VPS?

[bitcoinrocks]

I think it's funny though that some people are complaining that the initial reward isn't enough, while others say that it's too much.

Agreed.  I think this means you got it about right.

[wizzardTim]

wizzardTim, I think it's good that everyone try to use the software.
'coz the descentralized exchange and everything is based on it.
Even sending XCP require the soft for now. (assets too)
Might see an API allowing for XCP to be traded on centralized exchange BTC-e/cryptsy one day.
It would probably help with global popularity.
Yet it's really a new approach.

Ok, I'm trying to use the software now! I should wait a little longer till the blockchain syncs though

[panonym]

I think it's funny though that some people are complaining that the initial reward isn't enough, while others say that it's too much.

Agreed.  I think this means you got it about right.

Exactly.
You can pretty much never fully satisfied everyone.

the Devs would have been justified taking a % of the BTC for a development fund.

But they chose not. Building them a very good reputation start.
On the long term, that might be more valuable than money.

About 1 BTC = 1000XCP or 3000XCP, it doesn't change much. Even 10000XCP.
That's just a ratio.
For referential, 1000XCP is quite convenient. Precise reason already given in previous post.

when you think of later adoption of XCP, no-one can complain that early users were unfairly rewarded, if anything Devs and early adopters are under-rewarded for their contribution.
[...] that gives XCP a real shot at being the winner long-term.

Let's hope history remind this

[PhantomPhreak]

I'm trying to decide whether to burn with blockchain.info or counterpartyd.  If the former, can I export the private key into multibit to use the XCP?  If the latter, can I run counterpartyd and bitcoind in a VPS?

Yes, and yes.

[sixteendigits]

Is this another error with the blockchain.info burning instructions?  In step 4 it says "Under “Change Address”, you should choose the same address as your “To” address" but the pic is showing the "from" address as the change address.  Just to clarify, I am referring to step 4, not step 6 as the post earlier was referring to.

[PhantomPhreak]

Is this another error with the blockchain.info burning instructions?  In step 4 it says "Under “Change Address”, you should choose the same address as your “To” address" but the pic is showing the "from" address as the change address.  Just to clarify, I am referring to step 4, not step 6 as the post earlier was referring to.

Thanks. I just fixed it.

[PhantomPhreak]

Announcment: I just pushed a new version of counterpartyd to GitHub. This one has a much cleaner block-parsing algorithm, and one that doesn't involve the reparsing of every transactions on every startup. I'm working toward the goal of properly handling blockchain reorganisations. Try this version out, and tell me if you see any problem with it. In particular, if you notice a block index listed in the log twice---ever---that's a real issue.

Cheers!

P.S. This won't affect burns, don't worry.

[panonym]

Okay, my rescan is finish.

Before burning I will update XCPsoft.
Just wanna make sure the following is correct (no more, no less):

Code:

cd ~/counterpartyd_build
git pull origin master
cd ~/counterpartyd_build/dist/counterpartyd
git pull origin master

Sure nothing else to do?

edit: info for those trying:
on counterparty.conf rpc-port=8332 (have to modify the original 18332)
'currently listing tons of "Starting new HTTP connection (1): localhost". Your "parsing" I guess.
That's kind of long, for a change..
(with old version, I haven't updated yet, 'wait confirmation)

EDIT: 'was too long, I aborded with ctrl+c
Did the upper 4 command
Then xcp --log-file=- -v
The start is exactly the same, a endless list of this kind

Code:

2014-01-05-T10:12:01+0100 Starting new HTTP connection (1): localhost
2014-01-05-T10:12:01+0100 "POST / HTTP/1.1" 200 2734

For now /home/user/.config/counterpartyd/counterpartyd.log is empty.
/home/user/.config/counterpartyd/ = 46.8 kB
/home/user/counterpartyd_build = 13.2Mb

[wizzardTim]

Help!

My bitcoin qt just synched - but when I added bitcoin.conf with txindex=1, then qt says error - database must be rebuilt - or something like that.

I followed the instructions carefully..

[panonym]

wizzardTim, you're half way lolz
now:

Code:

bitcoind -reindex

This rescan will take you a good 12h.

[wizzardTim]

wizzardTim, you're half way lolz
now:

Code:

bitcoind -reindex

This will take you a good 12h.

Nooooooooooooooooooooooooooooooooooooooooooooo

[panonym]

wizzardTim, you're half way lolz
now:

Code:

bitcoind -reindex

This will take you a good 12h.

Nooooooooooooooooooooooooooooooooooooooooooooo

I felt the same