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

[warriraj]

Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.

One suggestion I have is: make the XCP escrow a fixed amount of XCP instead of a percentage. Calculating percentages is frustrating for people and adds an additional barrier to using the DEX--this has been demonstrated by the many questions in this thread about how the BTC fees work.

It is much easier/more intuitive for the seller to calculate a percentage himself and use that as the fixed XCP escrow amount than the other way around.

Does that mean I should have XCP balance to use DEX?

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[Mrrr]

An XCP faucet that sends an amount of XCP enough for 1 purchase on the DEX would solve this, and also give people an incentive to join. Don't know if this is feasible.

[OTK47]

im running counterpartyd on windows built from the git depository

what is the correct command to update

setup.py
setup.py update
setup.py build

is it normal for counterpartyd to rebuild the database each time?

setup.py update I think and yes. Someone should confirm this though.

[kdrop22]

Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.

+1 Agreed.

[ddink7]

im running counterpartyd on windows built from the git depository

what is the correct command to update

setup.py
setup.py update
setup.py build

is it normal for counterpartyd to rebuild the database each time?

setup.py update I think and yes. Someone should confirm this though.

To update:

cd counterpartyd_build
C:\python32\python.exe setup.py update

It does not rebuild the database every time, only sometimes.

[lonsharim]

Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.

+1 Agreed.

It's a significant disadvantage to have to own XCP in order to trade XCP/BTC in DEX. We are basically telling all new users to first go and purchase XCP (from others or a centralized exchange) outside DEX before coming and buying some more. It raises the entry barrier for new adopters. The system needs to be made simple for new users, not difficult.

I understand the serious issue of trolls. I didn't understand how miners don't have to pay fees to troll the order books and collect the fees but I take PP's word for it. A more dummies explanation would be desirable.

[PhantomPhreak]

Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.

+1 Agreed.

It's a significant disadvantage to have to own XCP in order to trade XCP/BTC in DEX. We are basically telling all new users to first go and purchase XCP (from others or a centralized exchange) outside DEX before coming and buying some more. It raises the entry barrier for new adopters. The system needs to be made simple for new users, not difficult.

I understand the serious issue of trolls. I didn't understand how miners don't have to pay fees to troll the order books and collect the fees but I take PP's word for it. A more dummies explanation would be desirable.

It's a significant disadvantage, yes, but I don't see any good alternatives.

They can construct the troll tx, wait to find a block themselves, and then include the tx in it. Then they get the fees they paid in the tx.

[lonsharim]

It's a significant disadvantage, yes, but I don't see any good alternatives.

Maybe a solution can be found outside the protocol built on top of it rather than force one into it.

An issuing authority, automated or even manual at this stage that swaps BTC 1=1 for a XCP asset called XBTC at a designated public address. I understand trust will be an immediate concern but if initiated by someone of repute within the community (like the counterparty devs) it might just get adopted especially since the protocol supports escrow.

It's strictly not 1=1, rather 1 + 0.0001 BTC = 1 XBTC and 1 XBTC + 0.0001 BTC = 1 BTC.

[ginko-B]

And get over what ever happened between you and that French girl.  I feel sorry for her, you seem heartless.
 

LOL.  +1

[ginko-B]

I suggest everyone put a link to my beginners guide in their signature. As it will help direct new investors and other folks who are dying to start using counterparty to get started easily

Code:

Counterpartyd Installation for dummies -- http://goo.gl/z5algZ

Nice job on the guide halfcab123!

Really small thing:  personally I find the bright red font at the beginning to be a turn-off;  it dissuades me from wanting to read the rest of the guide.  Maybe you can find a font that is a little more pleasing to the eyes?  

[ginko-B]

Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.

+1 Agreed.

It's a significant disadvantage to have to own XCP in order to trade XCP/BTC in DEX. We are basically telling all new users to first go and purchase XCP (from others or a centralized exchange) outside DEX before coming and buying some more. It raises the entry barrier for new adopters. The system needs to be made simple for new users, not difficult.

I understand the serious issue of trolls. I didn't understand how miners don't have to pay fees to troll the order books and collect the fees but I take PP's word for it. A more dummies explanation would be desirable.

It's a significant disadvantage, yes, but I don't see any good alternatives.

They can construct the troll tx, wait to find a block themselves, and then include the tx in it. Then they get the fees they paid in the tx.

Maybe silly idea, but is there a way to code this so that a user has an option of sending either BTC or XCP into the escrow?

[RoxxR]

Can someone share a counterparty DB snapshot (or make a torrent or something, like the bitcoin devs do now) so I don't have to sync from scratch? It's only for testing, so I'm not worried about fake tx.

[brenzi]

...

And the following DEX features are lacking (or please point me to the docs if I'm not up to date):

• minimum match quantity should be selectable when placing an offer. If I want to sell 100x<asset> I might not want to to have 100 trades of 1x<asset>, especially if the process is not automized
• multisig escrow solution. Trading XCP/BTC is ok now because both are built on top of the same blockchain and the protocol can act as the escrow. But If I would like to trade PPC for BTC, how would that work trustlessly?

...

...

As a side note, in your question about trading for PPC is that because you are interested in the utility of PPC? ie you want to use PPC to purchase goods or proof of stake. Or are are you interested in PPC as an investment opportunity and wish to participate in the price movements?

If it is the latter, then you do in not need to own PPC in order to be able to participate in the price movements of PPC. In theory, with a bull CFD on a BTC/PPC broadcast feed, with a leverage of 1, you could participate in the price movements of PPC without owning PPC. Do note though that the payouts for bets and CFDs in Counterparty is in XCP.

What I meant is trading for "real" PPC (or whatever cryptocurrency/asset/token with its own blockchain/ledger). I understand that CFDs could do the trick for short-term speculation (however; we need trusted broadcasts first). But as I am more of a long-term investor wanting to diversify, CFD are a bad option. I believe that even if the concept of BTC and XCP is here to stay - BTC and XCP probably are not. And I don't want them to take my CFDs with them when they go.

Neither do I favour an IOU-concept like ripple for my purpose (which, as I understand could work in XCP as well..).

But a nicely working trustless DEX would of course be revolutionary...

[ddink7]

What's up with Poloniex? Is it currently down and/or under attack? Not able to get it to load.

[davidpbrown]

It's ok from here in London, UK.

[ddink7]

It's ok from here in London, UK.

Weird, I'm in Shreveport, Louisiana and I can sometimes get the page to load, but none of the data is there (prices, buttons, order information, etc.)

[kdrop22]

It's ok from here in London, UK.

Weird, I'm in Shreveport, Louisiana and I can sometimes get the page to load, but none of the data is there (prices, buttons, order information, etc.)

Yes, it's slow to load. Perhaps too much load on the server.

[warriraj]

It's ok from here in London, UK.

Weird, I'm in Shreveport, Louisiana and I can sometimes get the page to load, but none of the data is there (prices, buttons, order information, etc.)

Same here in London, UK

[led_lcd]

What I meant is trading for "real" PPC (or whatever cryptocurrency/asset/token with its own blockchain/ledger). I understand that CFDs could do the trick for short-term speculation (however; we need trusted broadcasts first). But as I am more of a long-term investor wanting to diversify, CFD are a bad option. I believe that even if the concept of BTC and XCP is here to stay - BTC and XCP probably are not. And I don't want them to take my CFDs with them when they go.

Neither do I favour an IOU-concept like ripple for my purpose (which, as I understand could work in XCP as well..).

But a nicely working trustless DEX would of course be revolutionary...

Agreed, a trustless DEX across blockchains would be rather special.

Did you see techo051's post?

I haven't gone through this whole thread yet but it seems like an interesting discussion on escrow.

https://bitcointalk.org/index.php?topic=212490.0

I haven't had a chance to fully read it yet. It's talking about using BitMessage as a trustless mechanism to bridge across OT servers.

The ramifications if true is that it would be possible to create a trustless gateway service between a DEX and a disparate blockchain. ie purchase PPC in Counterparty and then trustlessly exchange it for 'real' PPC.

[ddink7]

It's ok from here in London, UK.

Weird, I'm in Shreveport, Louisiana and I can sometimes get the page to load, but none of the data is there (prices, buttons, order information, etc.)

Same here in London, UK

OK it's back working now. Guess it was just a hiccup!