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

[trilli0n]

Next step: trustless feeds.

How for instance create a trustless quotefeed for BTC/LTC?

Trustless = decentralized. So, build a feed publisher straight into counterpartyd somehow?

Any price of any asset or any outcome of any bet that is to be published fully automated and trustless inevitably must come from one or more electronically published sources. That's because the information has to be available to everyone and needs to be accessible algorithmically.

A price source can be some stream or even a web page. All peers can look up a price themselves and feed it to the network. A price should only be valid and published if for instance 2/3 of the processing power of the network is in agreement.  (Else, no price should be published and any bets or trades depending on this feed should be unwinded. This however should be a rare event as most of the time all peers will be in agreement since the price source they use is hard-coded and the same for all. Processing power can be measured by some proof of work mechanism.)

Now the problem is reduced to finding trustless publisher. Who can be trusted to publish a truthful price? I think the answer is to pick prices from multiple sources. For instance, the price of LTC can be some weighted average of the price (time-weighted) taken from multiple exchanges. Exchanges may cooperate with Counterparty and publish a time weighted price of LTC on a web page every hour so all peers see the same price.

Similarly the price for Gold or any other asset can be hard-coded to be looked up hourly at several websites such as Yahoo, Kitco, Google Finance, Bloomberg etc. When in agreement sufficiently, it could be accepted as a valid quote and fed to the network. If peers are in agreement (2/3 rule) then the price becomes final and is published.

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[kdrop22]

http://www.reddit.com/r/Bitcoin/comments/1xzghd/counterparty_xcp_decentralized_opensource_nextgen/

Upvote boys

+1
Everyone , please help improve the exposure of this wonderful protocol.

[Robert Lewandowski]

What makes this so special?

[PhantomPhreak]

error while starting counterpartyd server
v0.5
bitcoin 0.8.6

  File "C:\counterpartyd_build\dist\counterpartyd\lib\util.py", line 280, in versions_ch
eck
lib.exceptions.DatabaseVersionError: Unable to check client, database versions. How’s yo
ur Internet access?

internet access is ok

Me too, somebody knowledgeable, please help us.

Are you still having this issue?

[led_lcd]

What makes this so special?

Counterparty has achieved more in the last month than Mastercoin in its history. Not only that, Counterparty did it in a way where the distribution of the coin doesn't line the pockets of the developers. If there is a fairer 2nd generation launch, I don't know of one.

[ojman28]

What makes this so special?

Proof of burn
Fairer distribution
Escrow service - which means you can trade directly with buyer/seller
                      - You can place bets for a football game
                      - Asset exchange, issue shares, dividends
Uses Bitcoin blockchain

and many more..

[SyRenity]

Another possible exchange goal - Vault of Satoshi:

Next Time on The Vault...
Over the course of February and March, we'll have a lot of exciting announcements to make.  Here's a sneak peek at what's around the corner for VoS:
    Coin-to-coin trading -- no more pesky fiat required!
    Authy two-factor authentication
    More coins --  Mastercoin and NXT
    Market orders, and shorting if you're lucky
    Multilingual support -- Parlez-vous français? Mais oui!
    More user interface improvements -- you can never be too pretty
    Generally, more awesomeness to come

I suggest people contact them at hello@vaultofsatoshi.com (https://www.vaultofsatoshi.com/contact) and ask to show some love for XCP as well!

[kdrop22]

What makes this so special?

The first decentrailized protocol to enable trading on financial instruments.
Checkout - www.blockscan.com

Distributed Exchange
http://blockscan.com/order_book.aspx
Stocks and Dividends
http://blockscan.com/assetInfo.aspx?q=MPTSTOCK

Other features: Assets and Betting

[michald]

hi everyone,

i need help setting up counterpartyd on linux.

i have running instances that i would like to run counterpartyd on.

there is a small bounty

pm me

If counterparty build of xnova don't work, you can make something like that :

Code:

virtualenv -p /usr/bin/python3 counterparty_env

source counterparty_env/bin/activate

pip install appdirs==1.2.0 prettytable==0.7.2 python-dateutil==2.2 requests==2.1.0 cherrypy==3.2.4 json-rpc==1.1 pycoin==0.25 pytest==2.5.1

wget https://sqlite.org/2014/sqlite-autoconf-3080301.tar.gz

tar -xvzf sqlite-autoconf-3080301.tar.gz
cd sqlite-autoconf-3080301
./configure
make
make install
cd ..

pip install https://github.com/rogerbinns/apsw/archive/master.zip

et voila!

thank you for your response.
this is what i got when i ran it:
http://gyazo.com/a1f973ef900986dc230740e8bc70b54c

how do i proceed?

Like the message says don't run counterpartyd with root user. Do something like this:

Code:

adduser counterparty
chown -r counterparty:counterparty ./
sudo counterparty

screen -S counterpartyd
./counterpartyd

ctrl+a+d to detach the screen and "screen -r counterpartyd" to attach it.
You can also make a service with: https://github.com/xnova/counterpartyd_build/blob/master/dist/linux/init/counterpartyd.conf.template

thank you again for your help.
when i run it as a non root user it still says:
http://gyazo.com/7e7482dfbbee8b28a88be00a74028ff5
what could cause this?

pp xnova cityiglut biggest fish anyone?

[Matt Y]

What makes this so special?

Counterparty is a community created protocol, which allows anyone to make and use decentralized financial assets that utilize the bitcoin protocol as a transport layer in order to provide the following functionalities:

- Distributed exchange
- Financial derivatives
- User created assets
- Dividends
- Betting

Counterparty differs from projects that hope to eventually offer a similar functionality because:

- Fully functioning - We are live.
- No IPO -  Counterparty is a currency, not a corporation.
- No funding - Donation driven.
- No corporate ties -  Free from outside influences.
- No fees - Free to use.
- No hype - The technology speaks for itself.
- Anonymous creators - Focus is on the protocol.
- Fair initial distribution - Risk and opportunity were shared equally.
- Development speed - Created from scratch in about a month.
- Open source - Anyone can add additional functionality.

[bitcointodayand]

Where can I buy counterparty?

[xnova]

thank you again for your help.
when i run it as a non root user it still says:
http://gyazo.com/7e7482dfbbee8b28a88be00a74028ff5
what could cause this?

pp xnova cityiglut biggest fish anyone?

You are running the command with "sudo", which means that you are running it as root. Don't type "sudo" before the command.

[bitcointodayand]

Or how does one acquire it. Thank you.

[ojman28]

Where can I buy counterparty?

https://www.poloniex.com/exchange/btc_xcp

[IamNotSure]

Where can I buy counterparty?

The "easy" way / Centralized exchange here : https://www.poloniex.com/exchange/btc_xcp

The "smart" way / Trough the DEX : Read here https://counterparty.co/faqs/ & http://counterpartyd-build.readthedocs.org/en/latest/

[Anotheranonlol]

Where can I buy counterparty?

The 'true' way is to buy via the DEX, which currently requires installing Bitcoin-QT and counterpartyd
an easier way for new users is to use a centralised exchange. Poloniex lists XCP here https://www.poloniex.com/exchange/btc_xcp

[jimhsu]

Where can I buy counterparty?

Centralized (best for newbies): https://www.poloniex.com/exchange
Decentralized (best if you already have some): install counterpartyd, and view the order list: http://www.blockscan.com/order_book.aspx

(wow, triple post).

[xnova]

thank you again for your help.
when i run it as a non root user it still says:
http://gyazo.com/7e7482dfbbee8b28a88be00a74028ff5
what could cause this?

pp xnova cityiglut biggest fish anyone?

You are running the command with "sudo", which means that you are effectively running it as root. Don't type "sudo" before the command.

[bitcointodayand]

Thank you.

[ojman28]

What makes this so special?

Counterparty is a community created protocol, which allows anyone to make and use decentralized financial assets that utilize the bitcoin protocol as a transport layer in order to provide the following functionalities:

- Distributed exchange
- Financial derivatives
- User created assets
- Dividends
- Betting

Counterparty differs from projects that hope to eventually offer a similar functionality because:

- Fully functioning - We are live.
- No IPO -  Counterparty is a currency, not a corporation.
- No funding - Donation driven.
- No corporate ties -  Free from outside influences.
- No fees - Free to use.
- No hype - The technology speaks for itself.
- Anonymous creators - Focus is on the protocol.
- Fair initial distribution - Risk and opportunity were shared equally.
- Development speed - Created from scratch in about a month.
- Open source - Anyone can add additional functionality.

+1

Yeah, no hype. True, but we need to market to bring many people on board.