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

[heskey]

I have a feeling that the Mt.Gox scandal will have a positive effect on this coin!

[grandpa_seth]

Announcement: Counterparty's weekly blog is live!

We will be writing a blog post every week, collating the most important information, so that the community does not have to sift through pages of forum threads to stay up-to-date.

The blog will focus on developments within the Counterparty project and community. Topics may include: significant updates to the reference client, announcement of bounties, interesting uses of the Counterparty protocol, as well as new collaborative efforts with members in- and outside the digital currency community.

On that note, in the first blog post, we announce that the Counterparty team has hired two Bitcoin security experts to audit Counterparty's code! For further information, continue reading here: https://counterparty.co/news/.

Cross-posted from the "blog thread"  on the official Counterparty forums.

I swear to frikkin gawd you, xnova and phantom make me feel warm, toasty and safe inside my blankie. You are the most professional and foresighted

devs on the planet.

[frozen123]

exciting news !  Was that blog written by Matt Y?

[havoc117]

need xcp faucet

[ripplebtc]

need xcp faucet

Good idea! 

[led_lcd]

need xcp faucet

Good idea! 

If you'd like to see a faucet chime in here:

https://forums.counterparty.co/index.php/topic,135.0.html

[RoxxR]

Great, the burn period is over now. It is funny, the last burn is also an advertisement.
https://blockchain.info/tx/4560d0e3d04927108b615ab106040489aca9c4aceedcf69d2b71f63b3139c7ae

Totally burned BTC: 2,130.83722537 BTC
Totally created XCP:  2,648,755.9218 XCP

As the developer mentioned: Try out the distributed exchange if you missed this period.

Sorry if this is a dumb question, but how come blockscan now says:

Total XCP Supply:   2,648,735.92

Why the 20 XCP difference?

[lonsharim]

Great, the burn period is over now. It is funny, the last burn is also an advertisement.
https://blockchain.info/tx/4560d0e3d04927108b615ab106040489aca9c4aceedcf69d2b71f63b3139c7ae

Totally burned BTC: 2,130.83722537 BTC
Totally created XCP:  2,648,755.9218 XCP

As the developer mentioned: Try out the distributed exchange if you missed this period.

Sorry if this is a dumb question, but how come blockscan now says:

Total XCP Supply:   2,648,735.92

Why the 20 XCP difference?

Presumably 4 Assets have been created and 4x5 XCP burnt in the process of creating these assets.

[lonsharim]

Announcement: Counterparty's weekly blog is live!

We will be writing a blog post every week, collating the most important information, so that the community does not have to sift through pages of forum threads to stay up-to-date.

The blog will focus on developments within the Counterparty project and community. Topics may include: significant updates to the reference client, announcement of bounties, interesting uses of the Counterparty protocol, as well as new collaborative efforts with members in- and outside the digital currency community.

On that note, in the first blog post, we announce that the Counterparty team has hired two Bitcoin security experts to audit Counterparty's code! For further information, continue reading here: https://counterparty.co/news/.

Cross-posted from the "blog thread"  on the official Counterparty forums.

I thought Sergio sounded very familiar and then I remembered. Sergio was one of the first to point flaws on Ethereum's Dagger PoW function. I remember this being a talking point during the huge Ethereum focus and hype in January.

Great to see Sergio's involvement. Khudos to the dev team.

[mtbitcoin]

Great, the burn period is over now. It is funny, the last burn is also an advertisement.
https://blockchain.info/tx/4560d0e3d04927108b615ab106040489aca9c4aceedcf69d2b71f63b3139c7ae

Totally burned BTC: 2,130.83722537 BTC
Totally created XCP:  2,648,755.9218 XCP

As the developer mentioned: Try out the distributed exchange if you missed this period.

Sorry if this is a dumb question, but how come blockscan now says:

Total XCP Supply:   2,648,735.92

Why the 20 XCP difference?

The difference is from the Asset Issuance fees.

From what I understand it was supposed to be 5 XCP per asset issuance but there was a bug in the calculation (which I already reported very much earlier) which only deducted the divisible amount instead of a full 5 XCP.

[mtbitcoin]

Announcement:
On that note, in the first blog post, we announce that the Counterparty team has hired two Bitcoin security experts to audit Counterparty's code! For further information, continue reading here: https://counterparty.co/sergio-lerner-peter-todd.

+1 Thumbs up.

[halfcab123]

Announcement:
On that note, in the first blog post, we announce that the Counterparty team has hired two Bitcoin security experts to audit Counterparty's code! For further information, continue reading here: https://counterparty.co/sergio-lerner-peter-todd.

+1 Thumbs up.

  That is very exciting

[520Bit]

Another great news: Bitcoin 0.9.0rc2 is available for testing [Changelog] https://bitcointalk.org/index.php?topic=495683.0

I suppose that Counterparty will implement OP_RETURN soon.

[Bountyful]

Great, the burn period is over now. It is funny, the last burn is also an advertisement.
https://blockchain.info/tx/4560d0e3d04927108b615ab106040489aca9c4aceedcf69d2b71f63b3139c7ae

Totally burned BTC: 2,130.83722537 BTC
Totally created XCP:  2,648,755.9218 XCP

As the developer mentioned: Try out the distributed exchange if you missed this period.

Sorry if this is a dumb question, but how come blockscan now says:
Total XCP Supply:   2,648,735.92

Why the 20 XCP difference?

The difference is from the Asset Issuance fees.

From what I understand it was supposed to be 5 XCP per asset issuance but there was a bug in the calculation (which I already reported very much earlier) which only deducted the divisible amount instead of a full 5 XCP.

This definitely no sustainable for either the protocol or any business that wishes to build on Counterparty. 5 XCP per asset will mean that we'll soon run out of XCP to burn for asset issuance, given we only have about 2.6 Million XCP outstanding, it will quickly become unprofitable to purchase XCP to issue assets. At this rate we will only have 529, 747.184 possible assets issued on the system when we'd like to have well more than that as there are trillions of dollars in assets yet to be digitized on Counterparty.

I wrote a proposal to change from burning XCP to BTC as the fee for asset issuance here: https://forums.counterparty.co/index.php?topic=150.new#new

[saras_wati2014]

This definitely no sustainable for either the protocol or any business that wishes to build on Counterparty. 5 XCP per asset will mean that we'll soon run out of XCP to burn for asset issuance, given we only have about 2.6 Million XCP outstanding, it will quickly become unprofitable to purchase XCP to issue assets. At this rate we will only have 529, 747.184 possible assets issued on the system when we'd like to have well more than that as there are trillions of dollars in assets yet to be digitized on Counterparty.

I wrote a proposal to change from burning XCP to BTC as the fee for asset issuance here: https://forums.counterparty.co/index.php?topic=150.new#new

+1 to your proposal

[PhantomPhreak]

This definitely no sustainable for either the protocol or any business that wishes to build on Counterparty. 5 XCP per asset will mean that we'll soon run out of XCP to burn for asset issuance, given we only have about 2.6 Million XCP outstanding, it will quickly become unprofitable to purchase XCP to issue assets. At this rate we will only have 529, 747.184 possible assets issued on the system when we'd like to have well more than that as there are trillions of dollars in assets yet to be digitized on Counterparty.

I wrote a proposal to change from burning XCP to BTC as the fee for asset issuance here: https://forums.counterparty.co/index.php?topic=150.new#new

+1 to your proposal

The hard-coded fee is temporary.

It's hard to burn BTC without creating unspendable txouts.

[Bountyful]

This definitely no sustainable for either the protocol or any business that wishes to build on Counterparty. 5 XCP per asset will mean that we'll soon run out of XCP to burn for asset issuance, given we only have about 2.6 Million XCP outstanding, it will quickly become unprofitable to purchase XCP to issue assets. At this rate we will only have 529, 747.184 possible assets issued on the system when we'd like to have well more than that as there are trillions of dollars in assets yet to be digitized on Counterparty.

I wrote a proposal to change from burning XCP to BTC as the fee for asset issuance here: https://forums.counterparty.co/index.php?topic=150.new#new

+1 to your proposal

The hard-coded fee is temporary.

It's hard to burn BTC without creating unspendable txouts.

Thanks. Cityglut also shared some thoughts and reiterated what you proposed. I updated my proposal with a new approach here: https://forums.counterparty.co/index.php/topic,150.msg1012.html#msg1012

[ginko-B]

Announcement:
On that note, in the first blog post, we announce that the Counterparty team has hired two Bitcoin security experts to audit Counterparty's code! For further information, continue reading here: https://counterparty.co/sergio-lerner-peter-todd.

+1 Thumbs up.

 That is very exciting

+1

Awesome to have two of the most experienced crytpo and security devs joining the Counterparty team!  

Peter and Sergio, thank you!

[halfcab123]

So would it not be possible for the Bitcoin development team to simply implement all of counterparty features directly into the protocol ? Like say, in version 1.0 ...

And if so would they have any incentive to do so?

[Bountyful]

So would it not be possible for the Bitcoin development team to simply implement all of counterparty features directly into the protocol ? Like say, in version 1.0 ...

And if so would they have any incentive to do so?

Yes. It would be possible and the bitcoin development team is always reviewing altcoins and alt protocols. Their incentives are to protect bitcoin and to protect the bitcoin mining pools. Counterparty neither threatens nor improves these in any significant way to warrant much interest, just right now.