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

[ddink7]

TO Bitcoin Magazine:

Hello! I thought your readers might be interested in the Counterparty Proof-of-Burn period ending. You all have previously mentioned Counterparty (XCP) in another article. Over $2 million in bitcoins were effectively destroyed in a “proof of burn.” Each destroyed bitcoin earned between 1000 and 1500 XCP.
 
Counterparty is also the first functioning distributed exchange to be released. See below!
 
Annoucement: https://bitcointalk.org/index.php?topic=395761.0
Website: https://counterparty.co/
Order Book: https://docs.google.com/spreadsheet/ccc?key=0ArOlTj1IBke6dG1SRzRGRG5IQXpUV05XRFVGNlg0VGc#gid=0
Block Explorer: http://blockscan.com/
Reddit: http://www.reddit.com/r/Bitcoin/comments/1wtz2b/2124_btc_destroyed_in_proofofburn/

FROM Bitcoin Magazine:

David,

Thank you for your email! I have cc'd our writing team to take a look and see if someone can cover this.

Best regards,
Elizabeth

[IamNotSure]

I've got an "insufficient funds" error here. Both addresses have 0.01 BTC and positive XCP balances. Neither can send XCP to the other...
wallet passphrase is unlocked.

Using the counterpartyd.exe with server running

counterpartyd send --from=xxxxxx --to=xxxx --quantity=10 --asset=XCP
Traceback (most recent call last):
  File "C:\Python32\lib\site-packages\cx_Freeze\initscripts\Console3.py", line 2
7, in <module>
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 540, i
n <module>
  File "C:\counterpartyd_build\dist\counterpartyd\lib\send.py", line 29, in crea
te
lib.exceptions.SendError: ['insufficient funds']

A side question, is it mandatory to use bitcoind or can you just run bitcoin-qt and unlock the wallet in the console to make send and order commands ?

[Patel]

I've got an "insufficient funds" error here. Both addresses have 0.01 BTC and positive XCP balances. Neither can send XCP to the other...
wallet passphrase is unlocked.

Using the counterpartyd.exe with server running

counterpartyd send --from=xxxxxx --to=xxxx --quantity=10 --asset=XCP
Traceback (most recent call last):
  File "C:\Python32\lib\site-packages\cx_Freeze\initscripts\Console3.py", line 2
7, in <module>
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 540, i
n <module>
  File "C:\counterpartyd_build\dist\counterpartyd\lib\send.py", line 29, in crea
te
lib.exceptions.SendError: ['insufficient funds']

A side question, is it mandatory to use bitcoind or can you just run bitcoin-qt and unlock the wallet in the console to make send and order commands ?

Bitcoin-qt works fine

[Patel]

Guys, everyone please upvote this on Reddit:

http://www.reddit.com/r/Bitcoin/comments/1x01vn/counterparty_xcp_distributed_exchange_goes_live/

Getting this to the frontpage of /r/bitcoin will drastically boost XCP's awareness.

Please upvote this and leave a comment, as a way of helping the XCP community.

====

Code:

http://www.sbwire.com/press-releases/counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network-454221.htm

http://www.sbwire.com/press-releases/counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network-454221.htm

https://www.prbuzz.com/business-entrepreneur/205490-counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network.html

http://markets.financialcontent.com/mng-elpaso.alamogordonews/news/read/26345104

http://thenumbers.marketplace.org/publicradio/news/read/26345104

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[kdrop22]

Guys, everyone please upvote this on Reddit:

http://www.reddit.com/r/Bitcoin/comments/1x01vn/counterparty_xcp_distributed_exchange_goes_live/

====

Code:

http://www.sbwire.com/press-releases/counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network-454221.htm

http://www.sbwire.com/press-releases/counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network-454221.htm

https://www.prbuzz.com/business-entrepreneur/205490-counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network.html

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Just saw this on Reddit, thanks for doing this.

Everyone please upvote on Reddit, lets spread the awareness of this financial innovation.

[IamNotSure]

WARNING: Please stop using the Distributed Exchange for now. There's something funky going on with matched orders.


The owner of this address posted an order to sell 1000 XCP for 7.5 BTC: http://blockscan.com/address.aspx?q=1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa

Someone bought 100 XCP from him for 0.75 BTC and paid for them.

But it looks like the XCP seller was credited with an additional 100 XCP?

The XCP seller's address now shows an additional 100 XCP received and a current balance of 100 XCP.

WARNING: XCP seller referenced above is attempting to double-spend. DO NOT USE DISTRIBUTED EXCHANGE. YOU WILL LOSE YOUR BITCOINS.

Calm down!!! and stop the red CAPS, please edit your messages

Seems to be ok for me, for some reason his original order was recredited, see here

Tx0    Tx0_Address    Forward Asset       Tx1_Address    Backward Asset    Remarks
3138   1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa   100.01818181 XCP      134NJLMjRUf2D74L3myc7MXwJSAUgkqxyp   0.75 BTC   Invalid: expired awaiting BTC payment
3138   1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa   100.01818181 XCP      134NJLMjRUf2D74L3myc7MXwJSAUgkqxyp   0.75 BTC   Valid

maybe because btcpay wasn't done fast enough ? It could be an issue (you could buy the whole sell order book and then cancel them without paying?)

On the other hand, it's nice to see XCP being bought @0.0075

[mtbitcoin]

WARNING: Please stop using the Distributed Exchange for now. There's something funky going on with matched orders.


The owner of this address posted an order to sell 1000 XCP for 7.5 BTC: http://blockscan.com/address.aspx?q=1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa

Someone bought 100 XCP from him for 0.75 BTC and paid for them.

But it looks like the XCP seller was credited with an additional 100 XCP?

The XCP seller's address now shows an additional 100 XCP received and a current balance of 100 XCP.

WARNING: XCP seller referenced above is attempting to double-spend. DO NOT USE DISTRIBUTED EXCHANGE. YOU WILL LOSE YOUR BITCOINS.

I am only seeing a balance of 0 for the address 1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa which looks about right. The total received depends on the number of credits that is related to the address and does not necessary relate to the actual balance

And a credit of 100+ XCP for http://blockscan.com/address.aspx?q=134NJLMjRUf2D74L3myc7MXwJSAUgkqxyp

Cheers

[physalis]

Can somebody explain to me what we need these XCP for?

The way I understand it, they're converted BTC->XCP with a factor of 1k-1.5k. And now what? What are they for?

I see the value of counterparty as a protocol, decentralized exchange etc.
But I can make an offer on the market like GIVE 1 BTC; GET 1 WEED or whatever.
I don't see why there's need for another currency in all this. Except for the obvious pump and dump that's going on here of course.

[Patel]

WARNING: Please stop using the Distributed Exchange for now. There's something funky going on with matched orders.


The owner of this address posted an order to sell 1000 XCP for 7.5 BTC: http://blockscan.com/address.aspx?q=1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa

Someone bought 100 XCP from him for 0.75 BTC and paid for them.

But it looks like the XCP seller was credited with an additional 100 XCP?

The XCP seller's address now shows an additional 100 XCP received and a current balance of 100 XCP.

WARNING: XCP seller referenced above is attempting to double-spend. DO NOT USE DISTRIBUTED EXCHANGE. YOU WILL LOSE YOUR BITCOINS.

Stop using your big red tard font. Contact Phantom or Xnova

[flayway]

@phantomphreak needs to get up on an interview panel! Like on this video

BitShares(Protoshares)
Mastercoin
Ethereum

People from these foundations talk for over an hour. Very uhh.. confusing ? haha, but interesting.
http://youtu.be/w-9miCOsg4g

He is too busy actually coding 

Better if make best system what working not talk shit in some video 

[PhantomPhreak]

WARNING: Please stop using the Distributed Exchange for now. There's something funky going on with matched orders.


The owner of this address posted an order to sell 1000 XCP for 7.5 BTC: http://blockscan.com/address.aspx?q=1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa

Someone bought 100 XCP from him for 0.75 BTC and paid for them.

But it looks like the XCP seller was credited with an additional 100 XCP?

The XCP seller's address now shows an additional 100 XCP received and a current balance of 100 XCP.

WARNING: XCP seller referenced above is attempting to double-spend. DO NOT USE DISTRIBUTED EXCHANGE. YOU WILL LOSE YOUR BITCOINS.

I am only seeing a balance of 0 for the address 1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa which looks about right. The total received depends on the number of credits that is related to the address

And a credit of 100+ XCP for http://blockscan.com/address.aspx?q=134NJLMjRUf2D74L3myc7MXwJSAUgkqxyp

Cheers

The balance is now 0 because the seller sent a new order to sell the 100 XCP he was wrongly credited.

Order: sell 100.01818182 XCP for 0.86 BTC at 0.0086 BTC/XCP in 1000 blocks with a required fee of 0.0001 BTC (4b8d3c3c...2d3c2425)

Effectively, both the buyer and seller received those 100 XCP, which is a double-spend.

This is no joke. I'm not editing my red caps until this is fixed.

As far as I can tell, there were two order matches, one of which 134NJLMjRUf2D74L3myc7MXwJSAUgkqxyp paid for, and the other of which he didn't. The order match that expired, when it expired, recredited 100 XCP to 1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa; the other order match was paid for, however, and for that 134NJLMjRUf2D74L3myc7MXwJSAUgkqxyp received his 100 XCP. If this summary is wrong, lay out what you think happened as clearly as possible, so that I can find any problems in the parsing.

Tx0    Tx0_Address    Forward Asset       Tx1_Address    Backward Asset    Remarks
3138   1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa   100.01818181 XCP      134NJLMjRUf2D74L3myc7MXwJSAUgkqxyp   0.75 BTC   Invalid: expired awaiting BTC payment
3138   1KDiHRwFsAEVEmmqQP7jR9GaBp8Wu7uLoa   100.01818181 XCP      134NJLMjRUf2D74L3myc7MXwJSAUgkqxyp   0.75 BTC   Valid

This is the bug right here. Both these btcpays are for the same order-match. There should only be one, not two.

What happened was counterpartyd recognized the first btcpay as valid. But then a second identical btcpay was generated, which should have been recognized as invalid: order already paid instead of invalid: expired.

Because it was recognized as Invalid: expired, the XCP were credited back to the seller even though they had already been credited to the buyer with the first Valid btcpay.

My interpretation is that there were two order matches with the same tx0 and different tx1s (and the Blockscan.com interface is just misleading). The btcpay was for the second order match.

EDIT: Note that there is a bug that I noticed yestereday where the size of an order is not replenished after a missing BTCpay. However, this won't cause any loss of funds.

[cityglut]

Can somebody explain to me what we need these XCP for?

The way I understand it, they're converted BTC->XCP with a factor of 1k-1.5k. And now what? What are they for?

I see the value of counterparty as a protocol, decentralized exchange etc.
But I can make an offer on the market like GIVE 1 BTC; GET 1 WEED or whatever.
I don't see why there's need for another currency in all this. Except for the obvious pump and dump that's going on here of course.

I wondered about that aswell. As far as I understand it, the XCPs are needed to provide an escrow, which is not possible for BTC inside the counterparty protocol. But you could easily do the same with BTCs, right? Is this the concept of colored coins but with another currency that uses the BTC network? Or is there more to it?

This was an issue that was also raised with MasterCoin. I think it's a pretty interesting question.

There really isn't a need for XCP for the user-created assets. Like you said you could just trade your asset directly with BTC.

There is a need for XCP to serve as the currency for the betting exchange though. You could use user-created assets to bet with, but the creator of that asset has the ability to print an infinite amount of it. With XCP the protocol guarantees there will be a fixed amount.

The website is being buggy, and some FAQS aren't showing up, but this FAQ explains what XCP are necessary for.

[romerun]

Can somebody explain to me what we need these XCP for?

The way I understand it, they're converted BTC->XCP with a factor of 1k-1.5k. And now what? What are they for?

I see the value of counterparty as a protocol, decentralized exchange etc.
But I can make an offer on the market like GIVE 1 BTC; GET 1 WEED or whatever.
I don't see why there's need for another currency in all this. Except for the obvious pump and dump that's going on here of course.

I wondered about that aswell. As far as I understand it, the XCPs are needed to provide an escrow, which is not possible for BTC inside the counterparty protocol. But you could easily do the same with BTCs, right? Is this the concept of colored coins but with another currency that uses the BTC network? Or is there more to it?

I've been searching for such answer since MSC, "why is it needed". We convert fiat to bitcoin coupon to remove frictions, then somebody tells us that if we want to buy weed, we have to buy XCP coupon to remove another btc friction. I believe that another layer coupon is not needed for dex, as we could already embed information on the blockchain directly, but for some more sophisticate features it could be necessary or at least makes thing easier to implement.

[Patel]

Guys, everyone please upvote this on Reddit:

http://www.reddit.com/r/Bitcoin/comments/1x01vn/counterparty_xcp_distributed_exchange_goes_live/

Getting this to the frontpage of /r/bitcoin will drastically boost XCP's awareness.

Please upvote this and leave a comment, as a way of helping build the XCP community.

====

Code:

http://www.sbwire.com/press-releases/counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network-454221.htm

http://www.sbwire.com/press-releases/counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network-454221.htm

https://www.prbuzz.com/business-entrepreneur/205490-counterparty-xcp-distributed-exchange-goes-live-on-bitcoin-network.html

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Upvote, Upvote, Upvote

Were almost on the /r/bitcoin frontpage!

[xnova]

Hello,

• I've build my own installer (Windows) from git source up-to-date.
• BitcoinQT is launched and up-to-date

Then when I want to launch the counterpartyd.exe, I have this error:

Code:

Traceback (most recent call last):
  File "C:\Python32\lib\site-packages\cx_Freeze\initscripts\Console3.py", line 2
7, in <module>
    exec(code, m.__dict__)
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 22, in
 <module>
    from lib import (config, api, zeromq, util, exceptions, bitcoin, blocks)
  File "C:\counterpartyd_build\dist\counterpartyd\lib\zeromq.py", line 14, in <m
odule>
    import zmq
  File "C:\Python32\lib\site-packages\zmq\__init__.py", line 29, in <module>
    from zmq import core, devices
  File "C:\Python32\lib\site-packages\zmq\core\__init__.py", line 26, in <module
>
    from zmq.core import (constants, error, message, context,
  File "ExtensionLoader_zmq_core_error.py", line 22, in <module>
  File "ExtensionLoader_zmq_core_error.py", line 14, in __bootstrap__
ImportError: DLL load failed: Module not found

Can someone help ?

Does exist a better step by step Counterparty on windows installation ?

This is showing the same error after reinstalling by following the doc here:
- http://counterpartyd-build.readthedocs.org/en/latest/BuildingFromSource.html#on-windows

Building a the windows installer off of master is currently broken due to the zeromq (zmq) dependency. I had initially fixed this error above in develop, but the issue goes further with zmq, and since we just removed zmq totally out of develop, there's no real reason to spend hours trying to fix zmq installer packaging for windows.

You can build an installer from the develop branch, but the develop branch is currently in-flux as we add some new features required for the web wallet API and we cannot promise the same stability as the master branch.

So the fix is to build master from source. I do not recommend using the Windows installers at this time. For the reasons listed above, and at in the warning message at http://counterpartyd-build.readthedocs.org/en/latest/UsingTheInstaller.html

[PhantomPhreak]

Can somebody explain to me what we need these XCP for?

The way I understand it, they're converted BTC->XCP with a factor of 1k-1.5k. And now what? What are they for?

I see the value of counterparty as a protocol, decentralized exchange etc.
But I can make an offer on the market like GIVE 1 BTC; GET 1 WEED or whatever.
I don't see why there's need for another currency in all this. Except for the obvious pump and dump that's going on here of course.

I wondered about that aswell. As far as I understand it, the XCPs are needed to provide an escrow, which is not possible for BTC inside the counterparty protocol. But you could easily do the same with BTCs, right? Is this the concept of colored coins but with another currency that uses the BTC network? Or is there more to it?

I've been searching for such answer since MSC, "why is it needed". We convert fiat to bitcoin coupon to remove frictions, then somebody tells us that if we want to buy weed, we have to buy XCP coupon to remove another btc friction. I believe that another layer coupon is not needed for dex, as we could already embed information on the blockchain directly, but for some more sophisticate features it could be necessary or at least makes thing easier to implement.

Moving to XCP removes frictions, too, specifically those relating to the need for atomic transactions and protocol-enforced escrow.

[hoolio]

Can somebody explain how to make a valid asset?

[cityglut]

The reddit page registered by the Counterparty Team is reddit.com/r/counterparty_xcp

Important clarification:reddit.com/r/counterparty was not registered by the Counterparty team; it was registered by prophetx, who is the communications lead for Mastercoin; reddit.com/r/xcp was also not reigstered by the Counterparty team, and both of its moderators appear to be associated with Mastercoin, as well.

[SyRenity]

The reddit page registered by the Counterparty Team is reddit.com/r/counterparty_xcp

Important clarification:reddit.com/r/counterparty was not registered by the Counterparty team; it was registered by prophetx, who is the communications lead for Mastercoin; reddit.com/r/xcp was also not reigstered by the Counterparty team, and both of its moderators appear to be associated with Mastercoin, as well.

I have this one registered and can turn it over:
http://www.reddit.com/r/XCPCounterparty/

[cryptrol]

The reddit page registered by the Counterparty Team is reddit.com/r/counterparty_xcp

Important clarification:reddit.com/r/counterparty was not registered by the Counterparty team; it was registered by prophetx, who is the communications lead for Mastercoin; reddit.com/r/xcp was also not reigstered by the Counterparty team, and both of its moderators appear to be associated with Mastercoin, as well.

There appears to be some scam artists among the mastercoin team.