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

[sumantso]

The block reward decreases linearly.

Does it decrease at midnight GMT?

[halfcab123]

Does Counterparty have an IRC or something ?

[maxmint]

The block reward decreases linearly.

Does it decrease at midnight GMT?

You mean the amount of XCP earned per burned BTC? This value decreases with every new block:

Right now, XCP are being rewarded to those that burn BTC at a price between 1500 XCP/BTC and 1000 XCP/BTC. The exact formula is:
XCP_EARNED = BTC_BURNED * (1000 * (1 + .5 * ((END_BLOCK - CURRENT_BLOCK) / (END_BLOCK - START_BLOCK))

[sumantso]

The block reward decreases linearly.

Does it decrease at midnight GMT?

You mean the amount of XPC earned per burned BTC? This value decreases with every new block:

Right now, XCP are being rewarded to those that burn BTC at a price between 1500 XCP/BTC and 1000 XCP/BTC. The exact formula is:
XCP_EARNED = BTC_BURNED * (1000 * (1 + .5 * ((END_BLOCK - CURRENT_BLOCK) / (END_BLOCK - START_BLOCK))

Thanks. I guess I will just burn tomorrow then.

Also, how can I put in a transaction fee when sending from address using the command line?

[BitThink]

Attention someone burnt 0.96, but the first output is not the burn address. That's a $800 loss. Please use counterpartyd to burn or ensure there's no change. If you are not confident enough, better to use Maxmint's burn service.

https://blockchain.info/tx/762186445d55c2d513016062c134df72387ca6b895de63444a3adfd46db4f987

[Watchy312]

It is interesting but i don't really see and understand what is best with this proof of burn stuff

How do you handle the security, where are the hashes?
What would happen if the value of XCP fall behind the BTC burnt?

Also i feel it very risky to "burn" bitcoin, it seems like it disapear if you do it bad.

[bitcoinrocks]

Attention someone burnt 0.96, but the first output is not the burn address. That's a $800 loss. Please use counterpartyd to burn or ensure there's no change. If you are not confident enough, better to use Maxmint's burn service.

I'm just about to burn.  Is there a problem and everyone should use counterpartyd right now, or did the person make a mistake?

[BitThink]

Attention someone burnt 0.96, but the first output is not the burn address. That's a $800 loss. Please use counterpartyd to burn or ensure there's no change. If you are not confident enough, better to use Maxmint's burn service.

I'm just about to burn.  Is there a problem and everyone should use counterpartyd right now, or did the person make a mistake?

https://blockchain.info/tx/762186445d55c2d513016062c134df72387ca6b895de63444a3adfd46db4f987
He used bitcoin-qt or other clients and the change address is randomly positioned in those clients. it happened that change address was positioned the first. Therefore, please calculate carefully and make amount to burn + miner fee = balance, or just stick to counterpartyd or blockchain.info.

I again suggest that the counterpartyd to treat burning as a special operation in the parsing. It's really not necessary to add so many restrictions in burning. Currently, there's already 2.2 BTC burnt for nothing.

In MSC, even the invalid transaction can be returned, they put no restriction in sending BTC to 1exodus. In my opinion, XCP should be as tolerable because we have not way to send back the invalid burnings.

[doitnow]

I've got like 6,700 XCP on 5 different BTC addresses -_____-
Can someone please tell me how to consolidate this ?

Why would you do that? isn't more secure have them all separately?

alternatively You can simply give me all yours private keys to these addresses and I will look after consolidation

[doitnow]

I know it's off of topic but it seems that most of guys here switched from MSC to XCP. What happened? did u lose your faith in MSC?  

I'm glad that you're supporting this project.  It only assured me about my investment. 

Looking forward to see more development.

[BitThink]

I know it's off of topic but it seems that most of guys here switched from MSC to XCP. What happened? did u lose your faith in MSC?  

I'm glad that you're supporting this project.  It only assured me about my investment. 

Looking forward to see more development.

I'm not sure about others, but myself haven't changed my MSC holding. It's not necessary to be either-or. MSC has a super slow progress, but has sufficient funds. XCP has a pretty good progress, but may be lack of funds for expanding and largely depends on the community support. Therefore, I decide to bet on both of them.

[Wit22]

I'm interested in investing but I don't want to do the burn myself.

Someone mentioned that maxmint or others are offering a burn service?
Is this true and is he reputable?

Thanks

[doitnow]

I'm interested in investing but I don't want to do the burn myself.

Someone mentioned that maxmint or others are offering a burn service?
Is this true and is he reputable?

Thanks

A lot of people trust him with MasterCoin exchange. I don't see why you wouldn't trust him in this case.

Edit: To be absolutely sure about someone just take a time and do some research

[mtbitcoin]

I've got like 6,700 XCP on 5 different BTC addresses -_____-
Can someone please tell me how to consolidate this ?

Why would you do that? isn't more secure have them all separately?

alternatively You can simply give me all yours private keys to these addresses and I will look after consolidation

In theory, you can use the send command from Counterparty client to consolidate all your balances

Cheers

[mtbitcoin]

I know it's off of topic but it seems that most of guys here switched from MSC to XCP. What happened? did u lose your faith in MSC?  

I'm glad that you're supporting this project.  It only assured me about my investment. 

Looking forward to see more development.

I think the reason you see this is because they are hoping to make gains as large as in mastercoin. However, if that is the intention I personally feel a lot of people are going be disappointed. Because compared with MSC the distribution of coins in XCP is very much even and as such it would be more difficult to 'manipulate' the market, so to speak

I don't have the statistics here but I'm betting more than half of the guys burning coins here are looking for a fast turnaround in profit and will throw the coins as fast as they have burned their coins 

Caveat emptor

[doitnow]

I've got like 6,700 XCP on 5 different BTC addresses -_____-
Can someone please tell me how to consolidate this ?

Why would you do that? isn't more secure have them all separately?

alternatively You can simply give me all yours private keys to these addresses and I will look after consolidation

In theory, you can use the send command from Counterparty client to consolidate all your balances

Cheers

Is there any advantage of this?

[RarsMover11]

I'm interested in investing but I don't want to do the burn myself.

Someone mentioned that maxmint or others are offering a burn service?
Is this true and is he reputable?

Thanks

I have used maxmint both for MSC escrow and also for Xcp burn escrow.

[BitThink]

I know it's off of topic but it seems that most of guys here switched from MSC to XCP. What happened? did u lose your faith in MSC?  

I'm glad that you're supporting this project.  It only assured me about my investment.  

Looking forward to see more development.

I think the reason you see this is because they are hoping to make gains as large as in mastercoin. However, if that is the intention I personally feel a lot of people are going be disappointed. Because compared with MSC the distribution of coins in XCP is very much even and as such it would be more difficult to 'manipulate' the market, so to speak

I don't have the statistics here but I'm betting more than half of the guys burning coins here are looking for a fast turnaround in profit and will throw the coins as fast as they have burned their coins  

Caveat emptor

For some people, get 30% - 40% return in one month is already a good investment. Suppose the daily burnt BTC count keeps current up trend, quite a lot of people will buy XCP at 0.001 BTC after the last burn block. Those who have already burnt could get 30-40% profit by selling their XCP that time (assume the exchange is already stable then).

For those who want 10x or even higher return, they have to wait until there're more and more popular assets/bets are created and the demand increases significantly. For that to happen, the counterpartyd have to be heavily tested and be reasonable stable first. The schedule is tight, cause MSC Dex is already under testing now. The first arriver will most likely be the only winner.

[mtbitcoin]

Hi PhantomPhreak/xnova

I have noticed that duplicate ASSETs were allowed to be created. Please see http://blockscan.com/asset.aspx.

You will notice that the duplicate asset names for "SPACE" and "NEXT" both were created by the same issuer.  Wouldn't this lead to confusion?

Cheers

[mtbitcoin]

I know it's off of topic but it seems that most of guys here switched from MSC to XCP. What happened? did u lose your faith in MSC?  

I'm glad that you're supporting this project.  It only assured me about my investment.  

Looking forward to see more development.

I think the reason you see this is because they are hoping to make gains as large as in mastercoin. However, if that is the intention I personally feel a lot of people are going be disappointed. Because compared with MSC the distribution of coins in XCP is very much even and as such it would be more difficult to 'manipulate' the market, so to speak

I don't have the statistics here but I'm betting more than half of the guys burning coins here are looking for a fast turnaround in profit and will throw the coins as fast as they have burned their coins  

Caveat emptor

For some people, get 30% - 40% return in one month is already a good investment. Suppose the daily burnt BTC count keeps current up trend, quite a lot of people will buy XCP at 0.001 BTC after the last burn block. Those who have already burnt could get 30-40% profit by selling their XCP that time (assume the exchange is already stable then).

For those who want 10x or even higher return, they have to wait until there're more and more popular assets/bets are created and the demand increases significantly. For that to happen, the counterpartyd have to be heavily tested and be reasonable stable first. The schedule is tight, cause MSC Dex is already under testing now. The first arriver will most likely be the only winner.

Noted. However, I was not referring to the 30-40% gains specifically as I was under the impression that most of MSC guys who are sitting on the IPO coins, are up more than 1300% at least given the 1BTC:100MSC ratio during the exodus period?

Cheers