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

[lonsharim]

Since I am having a similar problem, lets work as a team to solve it!

I am wondering if perhaps the problem is that the instructions are missing a step for the Windows Installation.  For example, if you look at the Linux Installation instructions it has a section "Installing" and then a section "Creating a default config" and then a final section "Running from Source".

But in the instructions for the Windows Installation the step "Creating a default config" seems to be missing.  Was it forgotten accidentally, perhaps?

You should be able to update the bitcoin config with instructions from here
http://counterpartyd-build.readthedocs.org/en/latest/SettingUpBitcoind.html

and details of the xcp config can be found here
http://counterpartyd-build.readthedocs.org/en/latest/AdditionalTopics.html#editing-the-config

[jl777]

I just cancelled an order, but didn't get my XCP back  

Still looking for help on this one.

I had the 2248 XCP order open, but I cancelled it, but the funds never returned to my wallet.

https://blockchain.info/tx/f87037291c072a68faf5853a25d90811d2b2451c8f9279673c008178650c5463

hey I was downloading blockchain, etc and doing counterparty install to be able to get that order!

James

I would have probably been more at ease if it was fulfilled, only because I don't know where that 2248 XCP went. It didn't get returned.

I am thinking it may get returned after the expiration. Which should be tomorrow.

Still selling at that price?

[Patel]

I just cancelled an order, but didn't get my XCP back  

Still looking for help on this one.

I had the 2248 XCP order open, but I cancelled it, but the funds never returned to my wallet.

https://blockchain.info/tx/f87037291c072a68faf5853a25d90811d2b2451c8f9279673c008178650c5463

hey I was downloading blockchain, etc and doing counterparty install to be able to get that order!

James

I would have probably been more at ease if it was fulfilled, only because I don't know where that 2248 XCP went. It didn't get returned.

I am thinking it may get returned after the expiration. Which should be tomorrow.

Still selling at that price?

No, thats why I cancelled the order.

[halfcab123]

If someone can help me get setup with counterpartyd, I'll be glad to do a screen recording and put it on youtube as a reference for everyone.

1. Do I need to re-index ?
    - My Bitcoin QT is synced I assumed that was enough ?

2. Do I need bitcoin on my address for each transaction and is the miner fee applied automatically ?
    - If not sent with miner fee, I assume I can kiss the transaction good bye ?

3. Do I need to import the private keys from my blockchain.info wallet into QT before using counterpartyd on the command line to send xcp ? Can I just send as long as I have the address and private key ?

[mtbitcoin]

IMHO... After seeing this played out so many times over the years, any kind of full featured centralized exchange I.e cryptsy, etc at this point (so quickly after the burn) of time would be the death of this coin as far as the exchange rate is concerned. Unlike nxt and mastercoin, you have a relatively fair distribution and large float, and most will dump as fast as they burned.

Cheers

[romerun]

1. Do I need to re-index ?
    - My Bitcoin QT is synced I assumed that was enough ?

need txindex=1 in bitcoin.conf, you may need to reindex if it's not there

[mtbitcoin]

I just cancelled an order, but didn't get my XCP back  

Still looking for help on this one.

I had the 2248 XCP order open, but I cancelled it, but the funds never returned to my wallet.

https://blockchain.info/tx/f87037291c072a68faf5853a25d90811d2b2451c8f9279673c008178650c5463

hey I was downloading blockchain, etc and doing counterparty install to be able to get that order!

James

I would have probably been more at ease if it was fulfilled, only because I don't know where that 2248 XCP went. It didn't get returned.

I am thinking it may get returned after the expiration. Which should be tomorrow.

Still selling at that price?

No, thats why I cancelled the order.

Actually you are not the only one.. I have had cancelled orders but with no coins returned when I attempted this much earlier on

[cityglut]

Hi all,

xnova has thrown up a technical support thread on the official forum for those who are having problems with the counterpartyd build system: https://forums.counterparty.co/index.php/topic,13.0.

I think the organization the new forum provides will really help the devs more effectively deal with bugs.

[Patel]

I just cancelled an order, but didn't get my XCP back  

Still looking for help on this one.

I had the 2248 XCP order open, but I cancelled it, but the funds never returned to my wallet.

https://blockchain.info/tx/f87037291c072a68faf5853a25d90811d2b2451c8f9279673c008178650c5463

hey I was downloading blockchain, etc and doing counterparty install to be able to get that order!

James

I would have probably been more at ease if it was fulfilled, only because I don't know where that 2248 XCP went. It didn't get returned.

I am thinking it may get returned after the expiration. Which should be tomorrow.

Still selling at that price?

No, thats why I cancelled the order.

Actually you are not the only one.. I have had cancelled orders but with no coins returned when I attempted this much earlier on

Did you report this? I hope I didn't take a loss by bug. It seems the order gets cancelled and the xcp deleted instead of returned

[jl777]

IMHO... After seeing this played out so many times over the years, any kind of full featured centralized exchange I.e cryptsy, etc at this point (so quickly after the burn) of time would be the death of this coin as far as the exchange rate is concerned. Unlike nxt and mastercoin, you have a relatively fair distribution and large float, and most will dump as fast as they burned.

Cheers

I wouldn't be so sure. Trades are happening at .01 BTC, which is roughly half mastercoin valuation. Does mastercoin have betting? Does mastercoin have dividends? I don't know, I can't really understand their website.

The valuation question is currently what discount/premium to mastercoin valuation XCP should be trading at. With XCP's technical lead and presumed feature set advantage, a 50% discount for XCP just seems like a good deal for new investors. It would be good if XCP burners dumped at 50% discount to mastercoin.

Then a lot of new investors will make decent profits.

Also, most people have 1500 XCP or less. Why would they get all excited to make a few bucks when XCP hasn't even finished the basic tech deployment of GUI, Mac support!, wiki, etc?

Oh, I forgot about PR. XCP has been in stealth mode and because of that, all the XCP burners got a nice deal. What happens when Howard Stern sets a barrel of cash on fire and starts screaming, counterparty, counterparty!!

James

[mtbitcoin]

I just cancelled an order, but didn't get my XCP back  

Still looking for help on this one.

I had the 2248 XCP order open, but I cancelled it, but the funds never returned to my wallet.

https://blockchain.info/tx/f87037291c072a68faf5853a25d90811d2b2451c8f9279673c008178650c5463

hey I was downloading blockchain, etc and doing counterparty install to be able to get that order!

James

I would have probably been more at ease if it was fulfilled, only because I don't know where that 2248 XCP went. It didn't get returned.

I am thinking it may get returned after the expiration. Which should be tomorrow.

Still selling at that price?

No, thats why I cancelled the order.

Actually you are not the only one.. I have had cancelled orders but with no coins returned when I attempted this much earlier on

Did you report this? I hope I didn't take a loss by bug. It seems the order gets cancelled and the xcp deleted instead of returned

No ... But you should because my amount was relatively small and I was working through other issues like the client crashing midway .. Which phantomphreak will fix by the in the next commit. (Tq)

[BitThink]

As long as the order is not matched by others, there's no problem. I think the bug can be fixed later, and your XCP will be back because you balance only depends on how the client parses the blockchain. It only gets messy when a cancelled order is still considered valid and get matched by others.

However, it's better to be confirmed by the developers.

[Patel]

Note to self we're still in alpha and there will be bugs so don't play with more than you can lose

As long as the order is not matched by others, there's no problem. I think the bug can be fixed later, and your XCP will be back because you balance only depends on how the client parses the blockchain. It only gets messy when a cancelled order is still considered valid and get matched by others.

However, it's better to be confirmed by the developers.

Thanks

[halfcab123]

I keep seeing people incorrectly quoting XCP @ 0.01 BTC as "half of mastercoin"
This is off by a power of 10. Mastercoin is valued @ around 0.1 BTC right now
If XCP was "half" mastercoin it would be about 0.05 BTC per XCP, or about
5 times what some are saying it is right now.

[mtbitcoin]

IMHO... After seeing this played out so many times over the years, any kind of full featured centralized exchange I.e cryptsy, etc at this point (so quickly after the burn) of time would be the death of this coin as far as the exchange rate is concerned. Unlike nxt and mastercoin, you have a relatively fair distribution and large float, and most will dump as fast as they burned.

Cheers

I wouldn't be so sure. Trades are happening at .01 BTC, which is roughly half mastercoin valuation. Does mastercoin have betting? Does mastercoin have dividends? I don't know, I can't really understand their website.

The valuation question is currently what discount/premium to mastercoin valuation XCP should be trading at. With XCP's technical lead and presumed feature set advantage, a 50% discount for XCP just seems like a good deal for new investors. It would be good if XCP burners dumped at 50% discount to mastercoin.

Then a lot of new investors will make decent profits.

Also, most people have 1500 XCP or less. Why would they get all excited to make a few bucks when XCP hasn't even finished the basic tech deployment of GUI, Mac support!, wiki, etc?

Oh, I forgot about PR. XCP has been in stealth mode and because of that, all the XCP burners got a nice deal. What happens when Howard Stern sets a barrel of cash on fire and starts screaming, counterparty, counterparty!!

James

Don't get me wrong, I personally like the XCP project as this is one of the fairest launch and the ideals that have been communicated so far do not appear to be driven by greed but for the purpose of innovation. There also does not appear to be any kind of cooked up scheme behind the scenes to solely enrich the developers or "foundation" members.....much like , very wow!  

However, like you say it with more "publicity" everything is possible.... I was merely commenting on the technicalities

Cheers

[ddink7]

We know there is a bounty for a GUI, but does anybody know if someone is actually working on the GUI?

[W2014]

Congrats to the developers and everyone that took the leap and burned their BTCs.

We need a Logo design competition as well as some work on marketing, etc.  

This looks good.

+1, from a designer.

The arrow motif is one that I think we should stick to.

Agreed.
The design is good, but the implementation is amateurish.
A more advanced designer should be able to update this logo.

Hehe, I'm not even an amateur designer. I was just playing around on a logo design site and thought I stumbled across something that looked interesting and others might be able to work with.

What do I like about it?

1) Incorporates the arrows others were using earlier;
2) The two intertwining arrows symbolize action: in this case an exchange between 'counterparties' to a transaction;
3) The two arrow symbol can be used on its own as a kind of circular logo symbol without use of the "counterparty" name (most crypto logos are circular without a lot of writing);
4) The two arrow symbol could be used as a "C" in the spelling of the "Counterparty" name.

Anyway, that's it for my contribution as again I am not a logo designer. If anyone wants to use the design - or aspects of it - feel free without the necessity of asking me.

Cheers

[lonsharim]

1. Do I need to re-index ?
    - My Bitcoin QT is synced I assumed that was enough ?

You need to reindex it after updating your conf
http://counterpartyd-build.readthedocs.org/en/latest/SettingUpBitcoind.html
This will take you many hours to complete.

2. Do I need bitcoin on my address for each transaction and is the miner fee applied automatically ?
    - If not sent with miner fee, I assume I can kiss the transaction good bye ?

Someone else can confirm but I will assume so too - we are piggyback riding the blockchain so a bitcoin transaction should be created and thus miner's fee will also be required.

3. Do I need to import the private keys from my blockchain.info wallet into QT before using counterpartyd on the command line to send xcp ? Can I just send as long as I have the address and private key ?

Have you burnt the coins using blockchain.info? Then you will need to move that address to your QT wallet, take the private key from blockchaininfo and run the console using the command importprivkey YourPrivateKey

[halfcab123]

So when you use the console you don't need addresses? It knows the address from the private key?

[jl777]

I keep seeing people incorrectly quoting XCP @ 0.01 BTC as "half of mastercoin"
This is off by a power of 10. Mastercoin is valued @ around 0.1 BTC right now
If XCP was "half" mastercoin it would be about 0.05 BTC per XCP, or about
5 times what some are saying it is right now.

They probably mean in market cap.

Yes exactly that. Overall marketcap is really all that matters and since there are about 5 times as many XCP as mastercoins, the math does work out.

Someone pointed out that mastercoin marketcap used to be almost double what it is now. One theory is that the drop is due to XCP! If that is the case, then it goes to reason that the fair market value for XCP is whatever the difference between mastercoin marketcap used to be and now, adjusted for overall market price changes with comparable altcoins.

Drumroll please...

Using that method of valuation gives XCP an overall valuation of about $20 million or $7.5 per XCP, which is .009 BTC.

Above numbers are very rough, just ballparking figures of ~$70 mil mastercoin marketcap down to $46 million, but the overall market is a bit lower than when we saw $70 million mastercoin marketcap.

So both methods end up at around the same price. This is why I was comfortable if the first trades happened at that price. I think there was over 5 BTC that has traded at 0.01 BTC. From here the price is up to the market, but at least there is a sane reference point.

Do not listen to anybody that says that you don't deserve to make an instant 1000% gain. The same was said about NXT. As people kept complaining, the price kept going up. The XCP devs have given us all a gift! If somebody gave you a $10 bill for every dollar bill you burned, what price should you sell the $10 bill for?

What obligation do we have to sell a $10 bill for anything less than $10?

Now if you are the sensitive type, be ready for trolls to start calling you names, but the fact is we all took a plunge into the unknown. We still don't know what will happen (well OK we actually do, but we can pretend we don't know the devs will fix all the bugs, clients will come out, Mac will be supported, etc). I estimate the available supply of XCP to be pretty low. Maybe the guy that burned 60 BTC right at the end will sell 10 BTC to recoup his capital with a little cushion, but most people have 1500 XCP or less.

It will be nice to cash out and make thousands of dollars in less than a month, but it wont be life changing.

Let's project a nice high end scenario. XCP dev team get all the required software out. Then they start adding a bunch of new features. XCP gets onto coinmarketcap top 10. Its trading on btc-e.com. It gets millions of dollars of free press from the crazy ~$2 million proof of burn. Many XCP oriented projects start and an entirely new betting ecosystem develops. The same happens with the dividend ability.

Compare that to what LTC brings to the table.

James