pgbit
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Merit: 258
Trident Protocol | Simple «buy-hold-earn» system!
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February 18, 2014, 06:15:36 PM |
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Can anyone explain about the link with bitcoin wallet locking and counterparty functions? Just wanted to know what is required re: keeping wallets encrypted (i.e. is unlocking required and at what stages / for how long). Thanks for any info. Also, running the test suite on Windows, I get 27 failed & 6 passed items, failed on things like "no such asset, BBBC." and "codec cant decode byte 0x90 in position 3537: character maps to <undefinde>. Any link to a troubleshooting guide on these errors? I guess I have not installed some dependencies right?
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PhantomPhreak (OP)
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Activity: 476
Merit: 300
Counterparty Chief Scientist and Co-Founder
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February 18, 2014, 06:53:42 PM |
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Try it again now.
Yeah, that works now, thanx. About those troll buy orders that some of the sell orders got stuck in. You said after block 286500 the system will only wait for 10 blocks to send btcpay and then release XCPs? I guess this will work for all new orders only, right? Those that got stuck in the troll orders have to wait for full order expiry? That's right.
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PhantomPhreak (OP)
Sr. Member
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Activity: 476
Merit: 300
Counterparty Chief Scientist and Co-Founder
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February 18, 2014, 06:56:53 PM |
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Can anyone explain about the link with bitcoin wallet locking and counterparty functions? Just wanted to know what is required re: keeping wallets encrypted (i.e. is unlocking required and at what stages / for how long). Thanks for any info. Also, running the test suite on Windows, I get 27 failed & 6 passed items, failed on things like "no such asset, BBBC." and "codec cant decode byte 0x90 in position 3537: character maps to <undefinde>. Any link to a troubleshooting guide on these errors? I guess I have not installed some dependencies right?
counterpartyd will ask for your passphrase and unlock your encrypted Bitcoind wallet for 60 seconds, if it needs to. The second of those errors is caused by poor Unicode support on Windows. Also, you must be running Bitcoind on testnet in the background for the unit tests to work.
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ddink7
Legendary
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Activity: 1120
Merit: 1000
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February 18, 2014, 07:15:14 PM |
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Quick question: if I'm running bitcoin-qt, do I need to close it and run bitcoind instead? It's my understanding that qt is actually running bitcoind in the background, correct?
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ddink7
Legendary
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Activity: 1120
Merit: 1000
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February 18, 2014, 07:47:14 PM |
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Quick question: if I'm running bitcoin-qt, do I need to close it and run bitcoind instead? It's my understanding that qt is actually running bitcoind in the background, correct?
bitcoin-qt is fine Thanks!
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halfcab123
Full Member
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Activity: 224
Merit: 100
CabTrader v2 | crypto-folio.com
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February 18, 2014, 10:22:59 PM |
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DayTrade with less exposure to risk, by setting buy and sell spreads with CabTrader v2, buy now @ crypto-folio.com
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lemfuture
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February 18, 2014, 10:32:39 PM |
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ooo: i wanna burn my altcoins
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1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
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cryptrol
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February 18, 2014, 10:48:58 PM |
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why did that happen? how should i have encoded the call (php example would be great)? to keep working i am now rebuiliding the database, is there a better way to deal with it if it happens again?
This works for me : $client = new jsonRPCClient('http://host:port/jsonrpc/',array('username' => 'yourusername', 'password' => 'yourpass')); $addr = '1Fn..............'; // BTC/XCP address $res = $client->get_balances(array('filters' => '','field' => 'address', 'op' => '==', 'value' => $addr));
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jayso043
Newbie
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Activity: 18
Merit: 0
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February 18, 2014, 10:53:27 PM |
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I think I get the general idea behind counterparty and am keen to gather interest on creating a new asset to test the functionality of the assets and distribution of dividends.
I have a small mining rig that creates approx 0.008 BTC a day. The asset would give you the rights to share in the mining returns for the month of March.
The aim is to test the functionality of XCP and create a real life application.
1) Issue new asset at X price, total issue of Y shares. How is price determined, by a market or by the asset issuer? 2) Buyers purchase shares of the asset at X price, via the DEX. 3) Each day mining returns approx 0.008 btc, which will be re-distributed by XCP dividends. These are paid in XCP. Therefore I mine a coin, send to exchange and convert directly to XCP or BTC to then convert to XCP. 4) Pay XCP dividends via counterpartyd
End of March - end of test. You will have received Z amount of XCP in dividends and you have the shares of the new asset. After March the asset would be worthless. Is the asset tradeable on the DEX between issuance and end of March? As its a test I will return the XCP at the issue price at expiry.
Should I walt until the client is available? Is what I describe possible with counterparty? It will be interesting to see how the market reacts to demand from the requirement to purchase XCP to buy the new asset and via the dividends converted into XCP from BTC.
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halfcab123
Full Member
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Activity: 224
Merit: 100
CabTrader v2 | crypto-folio.com
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February 18, 2014, 10:58:44 PM |
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Any screen shots of the Web wallet ?
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DayTrade with less exposure to risk, by setting buy and sell spreads with CabTrader v2, buy now @ crypto-folio.com
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led_lcd
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February 19, 2014, 12:11:32 AM |
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All,
I've been discussing with busoni who operates Poloniex the possibility of Poloniex basically issuing and underwriting the value of 1 XBTC = 1 BTC.
I have already issued 21M XBTC (divisible, non callable). It isn't locked because I'm getting an error locking it but this will be done prior to any sale of XBTC.
The idea is that Poloniex will create an service which will buy and sell XBTC to BTC at a fixed value of 1:1. The fee will be kept low + tx fees.
Pros * Frictionless trading against XBTC * More choice in the way the DEX is utilized
Cons * Further centralized risk on Poloniex
If the idea goes forward, I'll transfer the asset to himself so there will be no more XBTC in circulation than what he sells.
How does everyone feel about this?
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kdrop22
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February 19, 2014, 12:14:25 AM Last edit: February 19, 2014, 12:47:05 AM by kdrop22 |
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I think I get the general idea behind counterparty and am keen to gather interest on creating a new asset to test the functionality of the assets and distribution of dividends. Count me in as one of your first customers.
I have a small mining rig that creates approx 0.008 BTC a day. The asset would give you the rights to share in the mining returns for the month of March.
The aim is to test the functionality of XCP and create a real life application.
1) Issue new asset at X price, total issue of Y shares. How is price determined, by a market or by the asset issuer? 2) Buyers purchase shares of the asset at X price, via the DEX. 3) Each day mining returns approx 0.008 btc, which will be re-distributed by XCP dividends. These are paid in XCP. Therefore I mine a coin, send to exchange and convert directly to XCP or BTC to then convert to XCP. 4) Pay XCP dividends via counterpartyd
End of March - end of test. You will have received Z amount of XCP in dividends and you have the shares of the new asset. After March the asset would be worthless. Is the asset tradeable on the DEX between issuance and end of March? As its a test I will return the XCP at the issue price at expiry.
Should I walt until the client is available? Is what I describe possible with counterparty? It will be interesting to see how the market reacts to demand from the requirement to purchase XCP to buy the new asset and via the dividends converted into XCP from BTC.
Yes, that would be a great idea and a good application of the capabilities of the counterparty protocol. 1) Issue new asset at X price, total issue of Y shares. How is price determined, by a market or by the asset issuer? You can issue any asset or share on top of the counterparty platform. http://www.blockscan.com/asset.aspx2) Buyers purchase shares of the asset at X price, via the DEX. Yes, that is possible see here. http://www.blockscan.com/order.aspx?f=23) Each day mining returns approx 0.008 btc, which will be re-distributed by XCP dividends. These are paid in XCP. Therefore I mine a coin, send to exchange and convert directly to XCP or BTC to then convert to XCP. Yes, you can pay dividend using the platform. 4) Pay XCP dividends via counterpartyd Yes The platform is working well. However, it is all command line based. If you are an engineer and have a technical background. I recommend that you get started with the counterparty client, if not I recommend waiting for the web GUI client.
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kdrop22
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February 19, 2014, 12:17:09 AM |
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All,
I've been discussing with busoni who operates Poloniex the possibility of Poloniex basically issuing and underwriting the value of 1 XBTC = 1 BTC.
I have already issued 21M XBTC (divisible, non callable). It isn't locked because I'm getting an error locking it but this will be done prior to any sale of XBTC.
The idea is that Poloniex will create an service which will buy and sell XBTC to BTC at a fixed value of 1:1. The fee will be kept low + tx fees.
Pros * Frictionless trading against XBTC * More choice in the way the DEX is utilized
Cons * Further centralized risk on Poloniex
If the idea goes forward, I'll transfer the asset to himself so there will be no more XBTC in circulation than what he sells.
How does everyone feel about this?
Hi Led_lcd, That sounds like a good idea. However, I cannot read the remember the protocol rules very well. Can the asset issuer issue more coins after the initial issuance. If that is the case there might be some risk.
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led_lcd
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February 19, 2014, 12:19:12 AM |
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End of March - end of test. You will have received Z amount of XCP in dividends and you have the shares of the new asset. After March the asset would be worthless. Is the asset tradeable on the DEX between issuance and end of March? As its a test I will return the XCP at the issue price at expiry.
Should I walt until the client is available? Is what I describe possible with counterparty? It will be interesting to see how the market reacts to demand from the requirement to purchase XCP to buy the new asset and via the dividends converted into XCP from BTC.
It sounds like a great idea. I'd like to participate! When you create the asset you are credited with all of the shares so you can pick the price to sell this asset. Of course from that point on, the holders are free to attempt to resell it at market price. What you are describing at the end of the test period is to recall shares of the asset. I think this is possible by setting the asset as 'callable' and with a 'call date' when you issue the asset. I haven't seen anyone try the callable feature. It might be worthwhile checking with the devs before using it As an alternative to an asset being 'callable' you could just put up market orders to buy back the asset. Since you wouldn't be issuing more dividends after the test period most people would want to sell back their shares.
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led_lcd
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February 19, 2014, 12:19:58 AM |
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Hi Led_lcd, That sounds like a good idea. However, I cannot read the remember the protocol rules very well. Can the asset issuer issue more coins after the initial issuance. If that is the case there might be some risk.
Yes, the asset can be locked so no further XCP can be issued. I will do that before it is transferred.
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uma97081
Newbie
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Activity: 34
Merit: 0
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February 19, 2014, 01:09:18 AM |
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why the price is not going up despite being a high-tech coin?
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halfcab123
Full Member
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Activity: 224
Merit: 100
CabTrader v2 | crypto-folio.com
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February 19, 2014, 01:23:30 AM |
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Where's Fernandez to shut this guy down ? lol. I kinda wonder the same thing and I'd say its probably going to go down quite a bit more when the web wallet comes out but then again it will probably boom after... look at NxT price history
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DayTrade with less exposure to risk, by setting buy and sell spreads with CabTrader v2, buy now @ crypto-folio.com
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uma97081
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Activity: 34
Merit: 0
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February 19, 2014, 01:42:31 AM |
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when is the web wallet coming out?
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Anotheranonlol
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February 19, 2014, 01:59:07 AM |
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I think I get the general idea behind counterparty and am keen to gather interest on creating a new asset to test the functionality of the assets and distribution of dividends.
I have a small mining rig that creates approx 0.008 BTC a day. The asset would give you the rights to share in the mining returns for the month of March.
The aim is to test the functionality of XCP and create a real life application.
1) Issue new asset at X price, total issue of Y shares. How is price determined, by a market or by the asset issuer? 2) Buyers purchase shares of the asset at X price, via the DEX. 3) Each day mining returns approx 0.008 btc, which will be re-distributed by XCP dividends. These are paid in XCP. Therefore I mine a coin, send to exchange and convert directly to XCP or BTC to then convert to XCP. 4) Pay XCP dividends via counterpartyd
End of March - end of test. You will have received Z amount of XCP in dividends and you have the shares of the new asset. After March the asset would be worthless. Is the asset tradeable on the DEX between issuance and end of March? As its a test I will return the XCP at the issue price at expiry.
Should I walt until the client is available? Is what I describe possible with counterparty? It will be interesting to see how the market reacts to demand from the requirement to purchase XCP to buy the new asset and via the dividends converted into XCP from BTC.
Here is some examples of asset isssuance. Currency pegSuppose Bob makes the following issuance: issuance --source=BOBS_ADDRESS --asset=BOBUSD quantity=QUANTITY= --divisible --description="For more info see: bobusd.com"
On bobusd.com it is explained that Bob will sell BOBUSD for the current exchange rate of USD/XCP plus a premium of 1%, and will buy it back later. Suppose, then, that the exchange rate is currently .2 USD/XCP: order --source=BOBS_ADDRESS --give-asset=BOBUSD --give-quantity=QUANTITY --get-asset=XCP --get-quantity=QUANTITY*.202 --expiration=EXPIRATION Bob further specifies that he will send XCP from ANOTHER_ADDRESS to BOBS_ADDRESS at a fixed frequency, depending on how much XCP falls relative to USD. There are several ways Bob could “prove” he has the private key for ANOTHER_ADDRESS. The amount of XCP at ANOTHER_ADDRESS plus BOBS_ADDRESS theoretically indicates the minimum “backing” of BOBUSD. The risk associated with exchanging XCP for BOBUSD is obvious, however, and indeed the premium Bob will be able to charge is likely in proportion to Bob’s reputation. Group purchasingBob wants to buy expensive BTC mining equipment, but cannot afford it himself, so he creates the asset BTCMINER: order --source=BOBS_ADDRESS --asset=BTCMINER --quantity=QUANTITY --divisible --description="Read more here: btcminer.com" On btcminer.com he gives details regarding the mining equipment he wants to purchase, and specifies that 100% of the BTC mined will be traded in exchange for XCP and paid out to holders of BTCMINER: dividend --source=BOBS_ADDRESS --quantity-per-share=QUANTITY_PER_SHARE --asset=BTCMINER more info: https://counterparty.co/wiki/assets/
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halfcab123
Full Member
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Activity: 224
Merit: 100
CabTrader v2 | crypto-folio.com
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February 19, 2014, 02:19:38 AM |
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*Puts on economist hat* I think we have experienced a few different market regimes since XCP was listed on coinmarketcap. At first, there was a shortage of supply due to most early adopters not being aware of Poloniex. This combined with the new demand from coinmarketcap browsers led to a spike in price. As word got out about XCP's high valuation a lot of early adopters started sending XCP to Poloniex and the price started falling again. It now trades roughly around where it was when Poloniex opened. Where do we go from here? If you take a look at Poloniex's central XCP address you will notice that the rate of XCP deposits has stabilized over the past couple of days: http://blockscan.com/address.aspx?q=15vA2MJ4ESG3Rt1PVQ79D1LFMBBNtcSz1f2/18: 9,902 XCP deposited 2/17: 9,164 XCP deposited 2/16: 28,139 XCP deposited ---> this is where the selloff occurred, due to massive influx of supply 2/15: 8,051 XCP deposited 2/14: 3,260 XCP deposited So now we know how much XCP supply is coming onto the market per day. We also know what the demand is: the total XCP volume traded over the past 24 hours. Currently that number is 14,000 XCP. So demand has to meet supply. If supply diminishes from the current rate of 10k XCP per day, price will go up. If demand increases from the current 14k XCP, price will go up. And vice versa. I think probably the market will move up over the next month because supply is mostly fixed while demand can only increase as word spreads. Demand can also fluctuate way more than supply, which probably means XCP price will exhibit positive skew (this is a good thing for investors). None of this is news...it applies to Bitcoin as well. I just think it's interesting to see the same principles being applied to XCP on a shorter time scale. The most important factor is demand. Let's focus on that as a community instead of worrying about who the big holders are, how much they are dumping, what the last trade was, etc. Ok that's all well and good but where do I get one of those hats ?
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DayTrade with less exposure to risk, by setting buy and sell spreads with CabTrader v2, buy now @ crypto-folio.com
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