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

[Nullu]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

[Wipeout2097]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

Heh! 

Good Lord.  

Couldn't those have been given to Red Cross, Food banks and so on?

[prabhu.str1]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

Heh! 

Good Lord.  

Couldn't those have been given to Red Cross, Food banks and so on?

Top idea. Donate your BTCs to them

[BTCWizard]

Also, LOL at people telling early adopters to sell their coins at a "fair price", which is coincidentally always below market value.

The burn period was open for a month. Did you join the developers in sending your coins into an unrecoverable black hole then? The fair price was 1000-1500 XCP / 1 BTC then. Anyone could have participated.

Then there was plenty of volume on the DEX for 2 weeks. Moneypaktrader was selling a large quantity of XCP for 0.005. Did you buy them?

Now there is a centralized exchange up and running. The fair price is now between .01 and .02. Are you going to buy now?

What about when the web wallet comes out, desktop GUI is out, and corporations start listing stock on XCP? What will be the fair price then?

Indeed, I didn't burn more than 1 BTC because it was just too risky. I set up some alpha software which even gave me an error a while after I send a BTC to a black hole, to see in this thread that more people had this error.

People who burned more had some real guts, I believed and still do in this project, but burning massive amounts was just insane and it basically was the same as "put everything on red". Now things look better so it is normal the price is higher, if we have a functioning wallet that everyone can use, it will look even better and price will even be higher. Once we are out the alpha stage and people really start using it and adopting it, price will be even higher. If you look at this project and can see it's potential, the current price isn't fair, it's dirt cheap. It's like complaining in 2010 that bitcoins don't have a fair value because they were cheaper in 2009. You could kept complaining about it all the time or you could have bought them at their fair value at that point in time.

[prabhu.str1]

Not too late. Price fell from 0.027 BTC to 0.011. Jump in. Don't complain later

[flayway]

The best community is a community that consists of actual owners of the coin. For XCP this group of stakeholders is really small, they keep the price manually too high, which makes it unattractive for new people to join in. People that do not own coins, will not promote it either. Cheaper price, means bigger community, means better potential for long term. To all stakeholders: please sell some of your stakes for profit now, so the coin gets decentralized and the community gets bigger.

Are you serious? Go complain to NXT if you looking for a really small stakeholders group (up to 75% of coins in 60 people hands - start of Feb 14' statistics), moving the market at will.

Here you have more then 2000 people who risked more than 1.K5 BTC into a black-hole (no refunds here), solely based on alpha code and developers integrity.

We must also remember that there is still much peoples who have invest but cant move their coins yet before easy wallet is out. This working also for donations, its difficult donate your coins if you dont know how. I make mistake to donate big amount of btc, that was much better burn and donate now in xcp... But i will still continue donate like 10% of my coins in future dev projects, maybe 40% sell for get money to invest to new innovations around cryptos and get little pocket money for myself and other 50% i want keep and sell maybe later with good profit or maybe find some good idea and start build some kind of "business" around xcp and same time increase that my last coins value. If there is like 1500 who have invest and if 750 or more of them dont know how or are too lazy wait two-three days to install softwares its mean that we are in really early stage with this great project. But i think this peoples who now want all coins to market is same peoples who laugh when we destroy us bitcoins for nothing and told us that we only increase bitcoin value when there no have anymore x amount of bitcoins in markets..

[ddink7]

Also, LOL at people telling early adopters to sell their coins at a "fair price", which is coincidentally always below market value.

The burn period was open for a month. Did you join the developers in sending your coins into an unrecoverable black hole then? The fair price was 1000-1500 XCP / 1 BTC then. Anyone could have participated.

Then there was plenty of volume on the DEX for 2 weeks. Moneypaktrader was selling a large quantity of XCP for 0.005. Did you buy them?

Now there is a centralized exchange up and running. The fair price is now between .01 and .02. Are you going to buy now?

What about when the web wallet comes out, desktop GUI is out, and corporations start listing stock on XCP? What will be the fair price then?

Indeed, I didn't burn more than 1 BTC because it was just too risky. I set up some alpha software which even gave me an error a while after I send a BTC to a black hole, to see in this thread that more people had this error.

People who burned more had some real guts, I believed and still do in this project, but burning massive amounts was just insane and it basically was the same as "put everything on red". Now things look better so it is normal the price is higher, if we have a functioning wallet that everyone can use, it will look even better and price will even be higher. Once we are out the alpha stage and people really start using it and adopting it, price will be even higher. If you look at this project and can see it's potential, the current price isn't fair, it's dirt cheap. It's like complaining in 2010 that bitcoins don't have a fair value because they were cheaper in 2009. You could kept complaining about it all the time or you could have bought them at their fair value at that point in time.

I agree. Burning BTC seemed *extremely* risky, especially since the protocol was in beta and it was entirely possible that anything could go wrong at any time. I originally planned to burn more than I did, but decided it was just too risky. Now that risk is being rewarded. It could easily have gone the other way...it's just the way investing goes.

[DaFockBro]

About the price:  XCP is glaringly undervalued right now.  Big holders are dumping thousands of XCP on poloniex to recoup their investments.  

The price will rise back up to at least .025 BTC/XCP once the dumping is over to make the Counterparty market cap even with Mastercoin's (main competitor with no functioning DEX).

I totally agree with you, this is a great buying opportunity on poloniex at this moment as a few "early burners" get out.  

Once the "early burners" are thru dumping and the DEX and web wallet are available, then we will see a rise up to the Mastercoin valuation level as the mainstream crypto community discovers how great this project really is!  

And once we start to see sports-betting and issuance of tradable assets, probably 2-3 months from now, then the project could receive major national and international press coverage and there will be another nice rise in price as the wider world learns about it.

Counterparty has a relatively small float of shares and is deflationary, so when the price finally starts rising, it could rise extremely quickly!  

These are some great ideas.  I've been thinking about what makes DOGE, Mastercoin, or NXT have higher market caps than Counterparty right now?  Despite Counterparty being the most innovative and functional.

I think it's all about the size and activity of the community (look at DOGE, nothing technically innovative).  

We should host some giveaways and try to grow the community as fast and big as possible.  A large, active community will naturally attract asset issuers to Counterparty.  It will also naturally attract technical people to help work on the technical aspects of Counterparty.

The only reason Mastercoin is more valuable right now is it has a much bigger and more active community than Counterparty.

[prabhu.str1]

About the price:  XCP is glaringly undervalued right now.  Big holders are dumping thousands of XCP on poloniex to recoup their investments.  

The price will rise back up to at least .025 BTC/XCP once the dumping is over to make the Counterparty market cap even with Mastercoin's (main competitor with no functioning DEX).

I totally agree with you, this is a great buying opportunity on poloniex at this moment as a few "early burners" get out.  

Once the "early burners" are thru dumping and the DEX and web wallet are available, then we will see a rise up to the Mastercoin valuation level as the mainstream crypto community discovers how great this project really is!  

And once we start to see sports-betting and issuance of tradable assets, probably 2-3 months from now, then the project could receive major national and international press coverage and there will be another nice rise in price as the wider world learns about it.

Counterparty has a relatively small float of shares and is deflationary, so when the price finally starts rising, it could rise extremely quickly!  

These are some great ideas.  I've been thinking about what makes DOGE, Mastercoin, or NXT have higher market caps than Counterparty right now?  Despite Counterparty being the most innovative and functional.

I think it's all about the size and activity of the community (look at DOGE, nothing technically innovative).  

We should host some giveaways and try to grow the community as fast and big as possible.  A large, active community will naturally attract asset issuers to Counterparty.  It will also naturally attract technical people to help work on the technical aspects of Counterparty.

The only reason Mastercoin is more valuable right now is it has a much bigger and more active community than Counterparty.

Size and activity of the community is important.

However, XCP community wants to promote its DEX rather than listing on many centralised exchanges. Everything is still in alpha stage. Everything should be ready by March, I guess - the web wallet, GUI, etc

[SyRenity]

Cant really say how many shareholders or coinholders. The burn was limited to 1BTC per address. The taint analysis showed 1 person burnt around 25 BTC, 5 or 6 in the range 11 - 20. A total of 2124.6 BTCs were burnt http://www.blockscan.com/burn.aspx So my guess is there are atleast 1000 initial shareholders. I burnt 1 BTC.

I estimate between 1-1.5K have burnt, which makes it one of the most distributed and yes, fair coin out there. There are some whales (60 here, 30 there), but they are the minority and don't hold more then 1% - 2% of total XCP's, hence massive manipulations we see in with other coins are not possible.

[SyRenity]

Top 60 NXT accounts still hold more than 70%. Some initial holders when price hit 0.001 BTC. And all the 1 billion coins were given to 21 stakeholders. What a fair distribution!!!

Not mentioning how the IPO abruptly ended without any notice, compared to this one where someone could even target the last block (to promote NXT again, non the less!).

[Wipeout2097]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

Heh!  

Good Lord.  

Couldn't those have been given to Red Cross, Food banks and so on?

Top idea. Donate your BTCs to them

Answer the question.

[Fastpow]

Got my first 9 XCP , couldn't buy more :p

[grandpa_seth]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

Heh!  

Good Lord.  

Couldn't those have been given to Red Cross, Food banks and so on?

Top idea. Donate your BTCs to them

Answer the question.

Your question is not unique. It has been brought up long ago and answered I believe satisfactorily.

https://bitcointalk.org/index.php?topic=395761.msg4346797#msg4346797

https://bitcointalk.org/index.php?topic=395761.msg4346928#msg4346928

[superresistant]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

Heh!  
Good Lord.  
Couldn't those have been given to Red Cross, Food banks and so on?

Top idea. Donate your BTCs to them

Answer the question.

In Proof-of-Burn, there is the word "burn" so you have to burn your BTC. If you give to the Food banks, then it is Proof-of-Food-Banks.

Hope this answer your question.

[flayway]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

Heh!  
Good Lord.  
Couldn't those have been given to Red Cross, Food banks and so on?

Top idea. Donate your BTCs to them

Answer the question.

In Proof-of-Burn, there is the word "burn" so you have to burn your BTC. If you give to the Food banks, then it is Proof-of-Food-Banks.

Hope this answer your question.

Maybe we can build around xcp some new donation system where moneys go then to Red Cross or some other destination? Any ideas how that can make working?

[Wipeout2097]

Yes, I see a problem with the centralization and holding of private key. I see another with burning 1.5 million $US.

It's none of my business, I don't have anything else to say itt. I'm just surprised/shocked...

[superresistant]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

Heh!  
Good Lord.  
Couldn't those have been given to Red Cross, Food banks and so on?

Top idea. Donate your BTCs to them

Answer the question.

In Proof-of-Burn, there is the word "burn" so you have to burn your BTC. If you give to the Food banks, then it is Proof-of-Food-Banks.
Hope this answer your question.

Maybe we can build around xcp some new donation system where moneys go then to Red Cross or some other destination? Any ideas how that can make working?

No it is too late. It was burned. There is no more Bitcoins.

Poor people starving on the streets... Maybe Proof-of-Burn is not that great ?

[xnova]

hi everyone,

i just installed counterpartyd thanks to the much appreciated help of xnova and JahPowerBit.

i started going throuh the api calls as specified in this page:
https://media.readthedocs.org/pdf/counterpartyd/latest/counterpartyd.pdf

and found that many vital ones are missing:

http://gyazo.com/3f2d893af97c6f37e588047ce7c9f7cd

among the promient ones are:
get_address and get_sends.

is it because of something i did or are these calls not implemented yet?
how can i know the source address of a transaction that was made to my address?

You are trying to "type" an API command at the command prompt.

They are two very different things. The command prompt has its own commands and options (type "counterpartyd help" for more information on that), and the API is a totally different thing where you need to connect to a running counterpartyd over a network connection, using a JSON RPC library in a separate application you write (see http://counterpartyd.readthedocs.org/en/latest/API.html#python-example for an example of that in python).

And all of the API calls documented exist. We use many of them today already, especially the two that you listed.

[flayway]

You guys threw 2000 BTC into an unrecoverable address, because ...?

...deflating BTC makes it worth more.  

Heh!  
Good Lord.  
Couldn't those have been given to Red Cross, Food banks and so on?

Top idea. Donate your BTCs to them

Answer the question.

In Proof-of-Burn, there is the word "burn" so you have to burn your BTC. If you give to the Food banks, then it is Proof-of-Food-Banks.
Hope this answer your question.

Maybe we can build around xcp some new donation system where moneys go then to Red Cross or some other destination? Any ideas how that can make working?

No it is too late. It was burned. There is no more Bitcoins.

Poor people starving on the streets... Maybe Proof-of-Burn is not that great ?

You understand wrong my question. I mean can we use XCP someway to make some new donation system.