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

[led_lcd]

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.

It's really (really) early days yet. The burn period finished just over a couple of weeks ago.

https://github.com/PhantomPhreak/Counterparty
https://blockchain.info/block/00000000000000017ba45a4efd47c0e2f79a2feb98e0eab26e279eb5e2d1d1cd

The distribution of XCP is magnitudes more widespread than other similar networks when comparing timelines.

I agree XCP needs to get into the hands of others to gain adoption. It will happen as the technical difficulty in obtaining XCP is lowered. The first step was being listed on a centralized exchange. The second step that will lower the hurdle to end user adoption is a web based wallet. I hope to hear more from the developers on this front soon.

[xnova]

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...

The problem with that is that if we had donated the funds, there is no 100% way to prove that the money was a) properly employed ONLY the manner specified and b) that none of it went back to the development team (or anyone else). You could come up with all sorts of ideas, but there would always be room for doubt to some degree, and this doubt could be used to damage the reputation of the project.

By burning the BTC, everyone in the community set an unbreakable contract with each other that these funds were indeed used for the purposes of creating stake in XCP (i.e. as a show of faith among the initial burners). Among other things, proof of a burn is a bedrock of which faith in XCP is placed, through the burnt BTC being at that burn address and *staying* at that burn address. Anyone can check this address at any time and see that these funds have gone nowhere.

We truly believe that what Counterparty is building can become a significant infrastructural alternative in several trillion dollar markets, and by doing so, increase market efficiencies while eliminating or reducing counterparty trust requirements (thus the name "Counterparty"). This in itself would be a huge benefit to humanity. To these ends, our hope and goal is that the BTC burnt will prove insignificant compared to the benefits provided by the fair and trustworthy launch that PoB affords us.

[ginko-B]

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...

The problem with that is that if we had donated the funds, there is no 100% way to prove that the money was a) properly employed ONLY the manner specified and b) that none of it went back to the development team (or anyone else). You could come up with all sorts of ideas, but there would always be room for doubt to some degree, and this doubt could be used to damage the reputation of the project.

By burning the BTC, everyone in the community set an unbreakable contract with each other that these funds were indeed used for the purposes of creating stake in XCP (i.e. as a show of faith among the initial burners). Among other things, proof of a burn is a bedrock of which faith in XCP is placed, through the burnt BTC being at that burn address and *staying* at that burn address. Anyone can check this address at any time and see that these funds have gone nowhere.

We truly believe that what Counterparty is building can become a significant infrastructural alternative in several trillion dollar markets, and by doing so, increase market efficiencies while eliminating or reducing counterparty trust requirements (thus the name "Counterparty"). This in itself would be a huge benefit to humanity. To these ends, our hope and goal is that the BTC burnt will prove insignificant compared to the benefits provided by the fair and trustworthy launch that PoB affords us.

+ 100

[Mrrr]

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.

The burned BTC weren't wasted, they were paid out as a dividend of 0.017257947% to all holders of Bitcoin (BTC quantity dimished, market cap stayed stable: more $ per BTC) Now if you, rather than complain about a perceived waste of resources, would donate your extra .017%, that was given to you by Counterparty, to charity; You could come back and complain.

[NewLiberty]

Well and concisely put.  Thank you for your eloquence.

[grandpa_seth]

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...

The problem with that is that if we had donated the funds, there is no 100% way to prove that the money was a) properly employed ONLY the manner specified and b) that none of it went back to the development team (or anyone else). You could come up with all sorts of ideas, but there would always be room for doubt to some degree, and this doubt could be used to damage the reputation of the project.

By burning the BTC, everyone in the community set an unbreakable contract with each other that these funds were indeed used for the purposes of creating stake in XCP (i.e. as a show of faith among the initial burners). Among other things, proof of a burn is a bedrock of which faith in XCP is placed, through the burnt BTC being at that burn address and *staying* at that burn address. Anyone can check this address at any time and see that these funds have gone nowhere.

We truly believe that what Counterparty is building can become a significant infrastructural alternative in several trillion dollar markets, and by doing so, increase market efficiencies while eliminating or reducing counterparty trust requirements (thus the name "Counterparty"). This in itself would be a huge benefit to humanity. To these ends, our hope and goal is that the BTC burnt will prove insignificant compared to the benefits provided by the fair and trustworthy launch that PoB affords us.

::sniff:: I love our Devs.

[SyRenity]

By burning the BTC, everyone in the community set an unbreakable contract with each other that these funds were indeed used for the purposes of creating stake in XCP (i.e. as a show of faith among the initial burners). Among other things, proof of a burn is a bedrock of which faith in XCP is placed, through the burnt BTC being at that burn address and *staying* at that burn address. Anyone can check this address at any time and see that these funds have gone nowhere.

We truly believe that what Counterparty is building can become a significant infrastructural alternative in several trillion dollar markets, and by doing so, increase market efficiencies while eliminating or reducing counterparty trust requirements (thus the name "Counterparty"). This in itself would be a huge benefit to humanity. To these ends, our hope and goal is that the BTC burnt will prove insignificant compared to the benefits provided by the fair and trustworthy launch that PoB affords us.

Great answer, hope this finally settles it down for any real (non-trolling) critics.

[halfcab123]

Trillion dollar markets wtf. And you gotta have xcp to issue assets ? And I have xcp ? And ... oh. Wow.

[halfcab123]

Yes, I would like to have a donation address, I don't care if you burned 100 BTC already, you're getting more. Thanks.

[led_lcd]

Did anyone else notice the issuance of SFMSTOCK?

http://www.blockscan.com/assetInfo.aspx?q=SFMSTOCK

Perhaps someone who can understand Chinese can investigate?

[nakaone]

Yes, I would like to have a donation address, I don't care if you burned 100 BTC already, you're getting more. Thanks.

they are using the donations for bounties

[halfcab123]

Yes, I would like to have a donation address, I don't care if you burned 100 BTC already, you're getting more. Thanks.

they are using the donations for bounties

I'm alluding to a statement that the devs were self-sufficient and did not need donations due to the fact that they had already burned a significant amount of bitcoin and most likely have a serious amount of xcp as well... I'm being funny in favor of the developers, stating simply that.. I do not care if the developers had burned more than twice the quoted amount, that I would still be wanting to donate due to the fact that they are doing an incredible job.

[led_lcd]

1) Does market have a choice of purchasing shares with XCP/BTC or only BTC
2) Can shares then be brought and sold by shareholders at whatever price they deem. ie: is there anything stopping them from buying 1 share at 0.1 and then immediately making a sale for 1 share at 0.05?

As an example. let's say you owned 10 AsicMiner shares, and wanted to create a 'pass thru' of sorts  on the DEX whereby you would pay dividends to shareholders. You would create a listing with 10 shares and price it under the current going rate on centralised exchange to attract interest.

Is it possible? I couldn't see an 'order-book' for individual assets showing bids and asks, or last ticker price for any asset, only initial issuance with a fixed price.

I've answered your questions respectively

1) The market can have orders of any asset types - that have created + BTC + XCP. BTC is a special case because the protocol can't handle escrow or payments of BTC.
2) Let's say you issue 1,000,000 ASICSHARES. Your address is credited with 1,000,000 ASICSHARES. You then have all 1,000,00 ASICSHARES and can sell to anyone for XCP, BTC or whatever asset you want to get on the DEX. Only then will they be able to sell.

When you sell the stock, you can see the list of shareholders. See:

http://www.blockscan.com/assetInfo.aspx?q=MPTSTOCK

You can then pay dividends in XCP easily. Alternatively, since the shareholder addresses correspond to real Bitcoin addresses, you could just manually send BTC to those addresses.

Yes, there can be an order book for any particular asset. What you see on the DEX is most assets are idle and not put up for sale or has buy orders.

[JakeThePanda]

Is Moneypaktrader around?  I sent him btc for XCP on 02/13 EST. (My PM says I sent it on the 14th but it's wrong)  He didn't send XCP and he doesn't respond to messages or emails.  I don't care that he has a good reputation on here, his customer service just horrible.  If he didn't want to honor .005 anymore than he should be on the forums announcing it or take his offer off the spreadsheet in the XCP buy/sell thread.  Or, just send my money back.  Below is the PM I sent.

Sent another .1 BTC for 20 XCP

TXID
5c802a24589fe7d2556e2f0ffb6ea2eadf9c46507329292b4c0de58d8d898b7d


Thanks.  How much longer are you offering at .005?

Still nothing from Moneypaktrader. 

[qtgwith]

Yes, I would like to have a donation address, I don't care if you burned 100 BTC already, you're getting more. Thanks.

they are using the donations for bounties

I'm alluding to a statement that the devs were self-sufficient and did not need donations due to the fact that they had already burned a significant amount of bitcoin and most likely have a serious amount of xcp as well... I'm being funny in favor of the developers, stating simply that.. I do not care if the developers had burned more than twice the quoted amount, that I would still be wanting to donate due to the fact that they are doing an incredible job.

This is your personal guess only.

[halfcab123]

No its not my personal guess. Reputable member quoted 50 was burnt by developers.

[halfcab123]

Yes, I would like to have a donation address, I don't care if you burned 100 BTC already, you're getting more. Thanks.

they are using the donations for bounties

I'm alluding to a statement that the devs were self-sufficient and did not need donations due to the fact that they had already burned a significant amount of bitcoin and most likely have a serious amount of xcp as well... I'm being funny in favor of the developers, stating simply that.. I do not care if the developers had burned more than twice the quoted amount, that I would still be wanting to donate due to the fact that they are doing an incredible job.

This is your personal guess only.

And regardless, even though that's not accurate to say it's my personal guess, the point is as everyone's should be that we should donate in any case.

[qtgwith]

No its not my personal guess. Reputable member quoted 50 was burnt by developers.

I will say again. It's just your personal guess. Please pay more attention to the project. not these gossip.

[BitzMD]

Looks like someone is artificially lowering the price of XCP to cause panic and take in the cheap coins. 

[gitinahang]

Now we are back down to .009. I understand what has been said about short term holders selling and people selling to get some of their investment back but seriously.


Do you people not know the value of what you are selling so cheaply? HODLl!!!!! and the buyers will be forced to pay more. .027 yesterday and you already panic sell .009.


::facepalm::