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

[TheMightyX]

I think you guys are getting ahead of yourselves.
Many people don't even know what bitcoin is and you are going to lay counterparty down on them in a commercial?
Take a step back and think about that.

Focus should be on creating an easy to use yet feature-rich GUI and other supporting tools (some sort of standalone feed watcher?).
Once that is established, you can start marketing to cryptocoin users. Marketing to the general public is still a far way off I think.

Second off would be the creation of the worlds first DAC.
You won't even have to market that, it will make headlines around the world.
Find something, no matter how trivial, that a DAC can do and do it.
Make the proceeds go to a counterparty protocol team address to help fund further features and projects.

Third is debatable but I would condone the creation of a counterparty foundation with elected boardmembers/developers.
This foundation could act as a crowdfunding platform where features are proposed and voted on and bounties collected for them.
We sometimes forget that not all centralization is bad. We like to go to the grocery store to buy what we need because it would be a pain in the ass to drive to one store to buy bread and another store to buy apples, and another for tuna.
I think a community based approach is great, but also that a strong foundation could help shape and promote innovation and progress.

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[cityglut]

Third is debatable but I would condone the creation of a counterparty foundation with elected boardmembers/developers.
This foundation could act as a crowdfunding platform where features are proposed and voted on and bounties collected for them.
We sometimes forget that not all centralization is bad. We like to go to the grocery store to buy what we need because it would be a pain in the ass to drive to one store to buy bread and another store to buy apples, and another for tuna.
I think a community based approach is great, but also that a strong foundation could help shape and promote innovation and progress.

Counterparty is an open-source protocol with no outside funding, as such a 'Counterparty Foundation' would be an artificial and ultimately meaningless construction. It goes without saying, however, that if members of the community would like to crowdfund or would like to propose bounties for which to crowd fund to the Counterparty Team, they are encouraged to do so!

Counterparty is and will be a community-driven project. This is not a criticism of centralization in-itself, it is just to point out that centralization (in the form of a foundation) within Counterparty is untenable given the nature of the project.

[TheMightyX]

Third is debatable but I would condone the creation of a counterparty foundation with elected boardmembers/developers.
This foundation could act as a crowdfunding platform where features are proposed and voted on and bounties collected for them.
We sometimes forget that not all centralization is bad. We like to go to the grocery store to buy what we need because it would be a pain in the ass to drive to one store to buy bread and another store to buy apples, and another for tuna.
I think a community based approach is great, but also that a strong foundation could help shape and promote innovation and progress.

Counterparty is an open-source protocol with no outside funding, as such a 'Counterparty Foundation' would be an artificial and ultimately meaningless construction. It goes without saying, however, that if members of the community would like to crowdfund or would like to propose bounties for which to crowd fund to the Counterparty Team, they are encouraged to do so!

Counterparty is and will be a community-driven project. This is not a criticism of centralization in-itself, it is just to point out that centralization (in the form of a foundation) within Counterparty is untenable given the nature of the project.

Don't you already have a foundation in a loose sense of the word?
Even your profile says "Counterparty team member".
So there is a team. You created a team that works together toward a common goal.
Your website is setup in a way that it certainly seems like there is already a counterparty foundation.

On that note, it would be nice to install a forum on the site so we have somewhere more organized to speak and trade.
This thread is getting too large and disorganized.

[jl777]

Hello XCP peoples!

I am James, active member of the NXT community and I really like what you are doing. Burned some BTC so I am also one of the XCP peoples.

I believe there is room in the growing crypto world for many different solutions to succeed. Of course, XCP must dominate mastercoin!

I just wanted to reach out and maybe there are ways we can help each other. NXT is already on many exchanges and has close to 20,000 accounts. Maybe it makes sense for XCP to be listed in NXT Asset Exchange? This would create a market for XCP and avoid all the fiat hassles as there is also a path from NXT -> ripple -> fiat.

I am busy managing the NXTcommunityfund, which just received over 2 million NXT so I personally don't have the time, but I am sure I can find somebody over in NXT community who would love to help or become an XCP gateway into the NXT Asset Exchange.

Still getting up to speed with XCP, so not sure if it is possible to get NXT listed within counterparty. If it is possible, I am interested in seeing how that can be done, etc.

James

[Bitye West]

I would like to see some development in the area of throwing a Counterparty.

Is it possible to set up a bounty to hire LMFAO to perform the Counterparty Rock Anthem once XCP hits a certain price?

http://www.youtube.com/watch?v=KQ6zr6kCPj8

[cryptrol]

I have been playin with the idea of using Counterparty asset and market features to build an exchange for an altcoin that lacks one. My guess is that this would require some kind of backing from an individual or organization in order to convert the assets bought into real funds ? Am I wrong with this ? Is there a better approach ?

[cityglut]

Third is debatable but I would condone the creation of a counterparty foundation with elected boardmembers/developers.
This foundation could act as a crowdfunding platform where features are proposed and voted on and bounties collected for them.
We sometimes forget that not all centralization is bad. We like to go to the grocery store to buy what we need because it would be a pain in the ass to drive to one store to buy bread and another store to buy apples, and another for tuna.
I think a community based approach is great, but also that a strong foundation could help shape and promote innovation and progress.

Counterparty is an open-source protocol with no outside funding, as such a 'Counterparty Foundation' would be an artificial and ultimately meaningless construction. It goes without saying, however, that if members of the community would like to crowdfund or would like to propose bounties for which to crowd fund to the Counterparty Team, they are encouraged to do so!

Counterparty is and will be a community-driven project. This is not a criticism of centralization in-itself, it is just to point out that centralization (in the form of a foundation) within Counterparty is untenable given the nature of the project.

Don't you already have a foundation in a loose sense of the word?
Even your profile says "Counterparty team member".
So there is a team. You created a team that works together toward a common goal.
Your website is setup in a way that it certainly seems like there is already a counterparty foundation.

In this case the distinction between having a foundation 'in the loose sense of the word' and having a full-fledged foundation is not trivial. Once there is a 'Counterparty Foundation' there is a barrier to people 'working on Counterparty' or 'working with Counterparty' that is not there as long as the structure is indeed 'loose', and Counterparty is in too early a stage of development to be slowed down by formalities that have not *proven* themselves to be necessary.

[michald]

hi guys,
i tried to burn 0.99 bitcoin, but i dont think it worked, because i dont see my account in blockscan.
can you tell me what happend?

blockchain:
https://blockchain.info/address/1Eb8kcHRr2z3E6DF4E3MMi3XEGEmBwicVZ

blockscan:
http://blockscan.com/balance.aspx?q=1Eb8kcHRr2z3E6DF4E3MMi3XEGEmBwicVZ

[delulo]

Is Counterparty based on the bitcoin blockchain or do you have your own blockchain?
If it is based on the bitcoin blockchain isn't that a scalability issue?

[Alias]

I have been playin with the idea of using Counterparty asset and market features to build an exchange for an altcoin that lacks one. My guess is that this would require some kind of backing from an individual or organization in order to convert the assets bought into real funds ? Am I wrong with this ? Is there a better approach ?

You need to get the idea of having some trusted entity to "back" things out of your head. The optimal solution is to use a DAC to create something like a decentralized credit union. Research it, implement it, change the world.

[nakaone]

I have been playin with the idea of using Counterparty asset and market features to build an exchange for an altcoin that lacks one. My guess is that this would require some kind of backing from an individual or organization in order to convert the assets bought into real funds ? Am I wrong with this ? Is there a better approach ?

You need to get the idea of having some trusted entity to "back" things out of your head. The optimal solution is to use a DAC to create something like a decentralized credit union. Research it, implement it, change the world.

the one winning this game ....

[led_lcd]

hi guys,
i tried to burn 0.99 bitcoin, but i dont think it worked, because i dont see my account in blockscan.
can you tell me what happend?

blockchain:
https://blockchain.info/address/1Eb8kcHRr2z3E6DF4E3MMi3XEGEmBwicVZ

blockscan:
http://blockscan.com/balance.aspx?q=1Eb8kcHRr2z3E6DF4E3MMi3XEGEmBwicVZ

I've checked with the counterparty client and I can see your burn:

Code:

Burns
+-------------+------------+-------------------+---------------------+
| Block Index |   Burned   |       Earned      |       Tx Hash       |
+-------------+------------+-------------------+---------------------+
|    283421   | 0.9998 BTC | 1035.15656364 XCP | 52941c45...77f6f051 |
+-------------+------------+-------------------+---------------------+

[michald]

hi guys,
i tried to burn 0.99 bitcoin, but i dont think it worked, because i dont see my account in blockscan.
can you tell me what happend?

blockchain:
https://blockchain.info/address/1Eb8kcHRr2z3E6DF4E3MMi3XEGEmBwicVZ

blockscan:
http://blockscan.com/balance.aspx?q=1Eb8kcHRr2z3E6DF4E3MMi3XEGEmBwicVZ

I've checked with the counterparty client and I can see your burn:

Code:

Burns
+-------------+------------+-------------------+---------------------+
| Block Index |   Burned   |       Earned      |       Tx Hash       |
+-------------+------------+-------------------+---------------------+
|    283421   | 0.9998 BTC | 1035.15656364 XCP | 52941c45...77f6f051 |
+-------------+------------+-------------------+---------------------+

thanks

[mtbitcoin]

Hi

There is an issue with the latest develop branch GIT. It will throw an exception everytime a block reorganization is detected


Status: Blockchain reorganisation at block 283588.
Traceback (most recent call last):
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 715, in <module>
    blocks.follow(db)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 613, in follow
    block_index = reorg(db)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 509, in reorg
    purge(db, quiet=True)
NameError: global name 'purge' is not defined

[PhantomPhreak]

Hi

There is an issue with the latest develop branch GIT. It will throw an exception everytime a block reorganization is detected


Status: Blockchain reorganisation at block 283588.
Traceback (most recent call last):
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 715, in <module>
    blocks.follow(db)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 613, in follow
    block_index = reorg(db)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 509, in reorg
    purge(db, quiet=True)
NameError: global name 'purge' is not defined

Yeah, I was just about to respond to your PM about that. I renamed the 'purge' function 'reparse'. I probably won't be able to push the commit which fixes this problem till Monday, however ('cuz I bundled it up with stuff that isn't ready yet). Feel free to rename that function call yourself.

[mtbitcoin]

Hi

There is an issue with the latest develop branch GIT. It will throw an exception everytime a block reorganization is detected


Status: Blockchain reorganisation at block 283588.
Traceback (most recent call last):
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 715, in <module>
    blocks.follow(db)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 613, in follow
    block_index = reorg(db)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 509, in reorg
    purge(db, quiet=True)
NameError: global name 'purge' is not defined

Yeah, I was just about to respond to your PM about that. I renamed the 'purge' function 'reparse'. I probably won't be able to push the commit which fixes this problem till Monday, however ('cuz I bundled it up with stuff that isn't ready yet). Feel free to rename that function call yourself.

Ok. I've renamed the purge to reparse in blocks.py. Lets see if this holds...

I am also seeing the error "\xd8MQ publisher not active. Sleeping for 0.25 seconds. (Try 1/12)"....'

cheers

[xnova]

Hi

There is an issue with the latest develop branch GIT. It will throw an exception everytime a block reorganization is detected


Status: Blockchain reorganisation at block 283588.
Traceback (most recent call last):
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 715, in <module>
    blocks.follow(db)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 613, in follow
    block_index = reorg(db)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\blocks.py", line 509, in reorg
    purge(db, quiet=True)
NameError: global name 'purge' is not defined

Yeah, I was just about to respond to your PM about that. I renamed the 'purge' function 'reparse'. I probably won't be able to push the commit which fixes this problem till Monday, however ('cuz I bundled it up with stuff that isn't ready yet). Feel free to rename that function call yourself.

Ok. I've renamed the purge to reparse in blocks.py. Lets see if this holds...

I am also seeing the error "\xd8MQ publisher not active. Sleeping for 0.25 seconds. (Try 1/12)"....'

cheers

If you only see that once, that shouldn't be a problem. The counterpartyd zmq functionality will probably be coming out in the next day or two anyhow, due to reliability issues of a real-time feed (i.e. missed packets, out of order data) as opposed to polling the API.

[cityglut]

Regarding Counterparty's development, we've come up with what we think are good guidelines specifying the limited role of the core Counterparty team vs. that of the Counterparty community at large. We'd love for members of the community to review and comment on this as we see this statement, once approved by our team and the majority of the community, as serving as the guiding principles of the Counterparty project as a whole.

Counterparty Project Principles

Members of the community have burned or otherwise invested their funds into the success of the project.  The core development team will produce and maintain the reference client(s), official website and protocol specification. The community will self-organize and produce products, services, and businesses around these tools, as well as their own.

As a member of the community, you are encouraged to:

• Freely create useful applications around Counterparty technology and be compensated accordingly as people use your product or service.
• Be proactive and take initiative around the Counterparty protocol and in the community which will collectively be evidenced by a rising XCP value.
• Promote innovation by cooperating, sharing and collaborating with other community members.

[xnova]

Cityglut has posted what we hope (with potential tweaks from the community) can become the guiding principles behind Counterparty. Most significantly, this project is as much the community's project as it is ours. Counterparty aims to follow the model used by Satoshi: Introduce innovative technology, and let a community form around it.

That is our goal here. Counterparty is what we all will make of it, and the initiative shown by you guys has been great so far. Let's keep building on that.

[nakaone]

Regarding Counterparty's development, we've come up with what we think are good guidelines specifying the limited role of the core Counterparty team vs. that of the Counterparty community at large. We'd love for members of the community to review and comment on this as we see this statement, once approved by our team and the majority of the community, as serving as the guiding principles of the Counterparty project as a whole.

Counterparty Project Principles

Members of the community have burned or otherwise invested their funds into the success of the project.  The core development team will produce and maintain the reference client(s), official website and protocol specification. The community will self-organize and produce products, services, and businesses around these tools, as well as their own.

As a member of the community, you are encouraged to:

• Freely create useful applications around Counterparty technology and be compensated accordingly as people use your product or service.
• Be proactive and take initiative around the Counterparty protocol and in the community which will collectively be evidenced by a rising XCP value.
• Promote innovation by cooperating, sharing and collaborating with other community members.

Generally Agree - I am planning of Donating ~10% of my XCP to created Bounties.

I cannot add much value regarding technical development. But as a financial economist I will probably add a paper why XCP is superior regarding superstructure to Mastercoin, probably Bitshares and Ethereum. Counterparty almost fullfills one of the core axioms of economics, which is brutally important to functionality of financial markets, the atomic hypothesis.