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

[BitcoinTangibleTrust]

Bitcoin Tangible Trust

Here is some feedback.
Item 1:
Use Case:
User A purchases 10 "Gold Coins" from Bitcoin Tangible Trust. BTT issues 10 coins of type GLDAEA and transfers ownership to User A. User A sells these coins to User B, via the distributed exchange.

After 6 months, User B would like to take physical delivery of their gold coins. So, user B would contact BitcoinTangibleTrust, provide evidence of the private key and request withdrawal. Would this scenario work? As the original purchaser is User A , can they be traded on the distributed exchange?

For redeeming the 10 coins, the current process is to provide evidence of private key. However, this might cause some confusion as the 10 GLDEA coins will still reside in the wallet of user B.

Shouldn't the user be sending you back the 10 GLDAEA coins and provide proof of private key by message signing. Once the transaction is confirmed, you should probably destroy those GLDAEA coins(send it to a burn address). This will greatly simplify the accounting as the total number of outstanding coins will equal the number of physical coins stored in the vault. (Also, this will prevent User B from fradulantly selling the re-demmeded GLDAEA coins to User C).

Item 1 Answer:
When A sells these coins to User B, via the wallet, once BTCPay is complete, the asset is now linked to User B's public address, let's call it PublicAddressB.  After 6 months B can bring his private key for his PublicAddessB to our custodian redemption site, provide their contact information, and sign our confirmation message they they own the private key. Once we have private key confirmation for PublicAddressB, the asset can be delivered to User B.

Yes. We instruct User B to send back the 10 GLDAEA coins when finalizing redemption, but we won't depend on them to do that. If we do not receive the 10 GLDAEAs (say within 30 minutes) of redemption, we will call the coins back to our public issuance address with our recorded Custodian confirmation that the coins will be shipped to User B. We are aware that there could be a window of time (15 - 20 minutes) that User B tries to fraudulently offload the 10 GLDAEA for millions of dollars to an unsuspecting buyer who thought the coins were backed. We're monitoring these edge cases.

Item 2:
Once the webwallet is released. You might want to consider marketing the Gold for Bitcoin service to the broader Bitcoin community and not just the XCP community.

Item 2 Answer:
Yes. We've started off in this community because we know that the folks here are mighty forgiving as we all want to see Counterparty assets succeed. We have some ways to go to clean up our value proposition (and website look/feel) before we are ready for increased awareness even on Bitcointalk.org. We've already turned down an interview by Bloomberg this week.

Item 3:
This item is probably already on your list. Once the content for the website is finalized, you might want to consider hiring a professional Designer to give the website a more polished look.

Item 3 Answer:
Yes. We launched to be ugly and to verify that we had a value proposition that was more compelling than the UI. As we continue to absorb and incorporate feedback, we plan to revamp and relaunch a much nicer and less offensive appearance. We appreciate that finance applications must look polished, but before we pour on the web design, we desperately need to know: Does anyone really care about betting and trading gold coins on the blockchain with Counterparty?

What are your thoughts on the use case we proposed?

Humble thank yous for the excellent questions you took time to share today.
Bitcoin Tangible Trust Team

[BitcoinTangibleTrust]

Our ASK for help today
Will you please look at our website offerings at http://www.bitcointangibletrust.com and share your feedback or criticisms on what we can do to make our offerings compelling for you to purchase a digital gold coin, today?

Many Thanks
The Bitcoin Tangible Trust Team

Let me rephrase this :

Can you check our half-ass website and let us know how we can get your money, since we are completely clueless. And btw, we want your money not tomorrow or next month, but TODAY !
This is really ballsy, I love it !

Thanks Bellebite2014. We're with you and we think our site looks half-itty-half-assed, as well.

Your feedback is super helpful as it means not even the current value proposition and offer is better than the ugly appearance.

We need to rethink what folks really want/need.

Would you agree?

Fair enough. This is usually the first step of any business. Is there any market for it, and how do I fit in there ?

Ahmen and +1

[TheMightyX]

I just did a push : https://github.com/JahPowerBit/counterpartyws

counterpartyws can now be used in 3 ways :

Heavy GUI
You must have bitcoind running. Counterpartyd follows blocks and uses local sqlite database to compose transaction.

Light GUI
You must have pyrpcwallet running and set composer-host and composer-port in config file. Counterpartyws uses distant counterpartyws running as Transactions Composer.

Transactions composer
You must have bitcoind running. Used by light counterpartyws to compose transactions.

We can say light wallet is ready in beta version (BoottleXCP is in fact only a GUI for counterpartyws, yes a GUI for a GUI ;-))
I need now to embed pyrpcwallet and counterpartyws in boottlexcp, and make intensive tests (Sorry about that, but I really do not have time to test as much as I should. But I planned to write tests as soon as I have time)

EDIT: Tomorrow I put online a counterpartyws in Transaction composer mode on xcpcomposer.jahpowerbit.org.

How do I get the cool ocean background gui

Hey,
Ocean gui is finished but I'm still working on the other ones before sending the new build (with graphical themes) to JahPowerBit,
Unfortunately theres a bug I can't figure out and its wasting a lot of my time trying to get it to work properly.

I keep thinking, "Hey, all I have do to is this and that!" and I always end up running into something that's like "fuck your plans! I'll do what I want!"


But I am still hard at work.

[halfcab123]

I just did a push : https://github.com/JahPowerBit/counterpartyws

counterpartyws can now be used in 3 ways :

Heavy GUI
You must have bitcoind running. Counterpartyd follows blocks and uses local sqlite database to compose transaction.

Light GUI
You must have pyrpcwallet running and set composer-host and composer-port in config file. Counterpartyws uses distant counterpartyws running as Transactions Composer.

Transactions composer
You must have bitcoind running. Used by light counterpartyws to compose transactions.

We can say light wallet is ready in beta version (BoottleXCP is in fact only a GUI for counterpartyws, yes a GUI for a GUI ;-))
I need now to embed pyrpcwallet and counterpartyws in boottlexcp, and make intensive tests (Sorry about that, but I really do not have time to test as much as I should. But I planned to write tests as soon as I have time)

EDIT: Tomorrow I put online a counterpartyws in Transaction composer mode on xcpcomposer.jahpowerbit.org.

How do I get the cool ocean background gui

Hey,
Ocean gui is finished but I'm still working on the other ones before sending the new build (with graphical themes) to JahPowerBit,
Unfortunately theres a bug I can't figure out and its wasting a lot of my time trying to get it to work properly.

I keep thinking, "Hey, all I have do to is this and that!" and I always end up running into something that's like "fuck your plans! I'll do what I want!"


But I am still hard at work.

Do you plan on releasing a theme that looks like the Web wallet ?

[halfcab123]

I'm seeing a few complaints concerning the intuitiveness of the Mastercoin Web wallet on the main mastercoin thread...

Here is a video of the Web wallet in action
http://masterprotocoleducation.org/?s=masterchain

we should keep in mind that these complaints necessarily affect the appearance of mastercoin albeit in a small way; and as such we should focus on keeping things constructive in this thread, to avoid the same. Cheers.

[halfcab123]

On a positive note here are the trade volumes of the leading Bitcoin 2.0 projects within the last 24 hours:

1. Counterparty   154 BTC
2. Bitshares-PTS 152 BTC
3. Namecoin       149 BTC
4. NxT                 143 BTC
5. Ripple               84 BTC
6. Mastercoin       38 BTC

These numbers courtesy of coinmarketcap.com
I'm not sure if they include DEX Txs
Still interesting though, considering Counterparty has "near-zero" coordinated marketing at this time,
whilst I'm sure the others have sizeable budgets for such undertakings.

[deliciousowl]

On a positive note here are the trade volumes of the leading Bitcoin 2.0 projects within the last 24 hours:

1. Counterparty   154 BTC
2. Bitshares-PTS 152 BTC
3. Namecoin       149 BTC
4. NxT                 143 BTC
5. Ripple               84 BTC
6. Mastercoin       38 BTC

These numbers courtesy of coinmarketcap.com
I'm not sure if they include DEX Txs
Still interesting though, considering Counterparty has "near-zero" coordinated marketing at this time,
whilst I'm sure the others have sizeable budgets for such undertakings.

Counterparty is vastly superior and not based on developer greed. Thats why.

[halfcab123]

On a positive note here are the trade volumes of the leading Bitcoin 2.0 projects within the last 24 hours:

1. Counterparty   154 BTC
2. Bitshares-PTS 152 BTC
3. Namecoin       149 BTC
4. NxT                 143 BTC
5. Ripple               84 BTC
6. Mastercoin       38 BTC

These numbers courtesy of coinmarketcap.com
I'm not sure if they include DEX Txs
Still interesting though, considering Counterparty has "near-zero" coordinated marketing at this time,
whilst I'm sure the others have sizeable budgets for such undertakings.

Counterparty is vastly superior and not based on developer greed. Thats why.

When I saw that mastercoin has a fee that goes to the exodus address for each transaction, that kind of made me lose a little respect ... even though it's kind of genius it seems wrong.

[RoxxR]

I just did a push : https://github.com/JahPowerBit/counterpartyws

counterpartyws can now be used in 3 ways :

Heavy GUI
You must have bitcoind running. Counterpartyd follows blocks and uses local sqlite database to compose transaction.

Light GUI
You must have pyrpcwallet running and set composer-host and composer-port in config file. Counterpartyws uses distant counterpartyws running as Transactions Composer.

Transactions composer
You must have bitcoind running. Used by light counterpartyws to compose transactions.

We can say light wallet is ready in beta version (BoottleXCP is in fact only a GUI for counterpartyws, yes a GUI for a GUI ;-))
I need now to embed pyrpcwallet and counterpartyws in boottlexcp, and make intensive tests (Sorry about that, but I really do not have time to test as much as I should. But I planned to write tests as soon as I have time)

EDIT: Tomorrow I put online a counterpartyws in Transaction composer mode on xcpcomposer.jahpowerbit.org.

LightGUI and pyrpcwallet sound pretty exciting!  How can we (non developers) test this?
And will it be possible to import existing private keys in the wallet?

[dexX7]

When I saw that mastercoin has a fee that goes to the exodus address for each transaction, that kind of made me lose a little respect ... even though it's kind of genius it seems wrong.

My first thought was "why the hell..?", too.

Consider it as anti-spam fee.

Feeless alternatives are encoding within the multi sig outputs similar to XCP or using OP_RETURN.

[halfcab123]

When I saw that mastercoin has a fee that goes to the exodus address for each transaction, that kind of made me lose a little respect ... even though it's kind of genius it seems wrong.

My first thought was "why the hell..?", too.

Consider it as anti-spam fee.

Feeless alternatives are encoding within the multi sig outputs similar to XCP or using OP_RETURN.

Isn't the bitcoin TX fee serving that purpose ?

[Bellebite2014]

On a positive note here are the trade volumes of the leading Bitcoin 2.0 projects within the last 24 hours:

1. Counterparty   154 BTC
2. Bitshares-PTS 152 BTC
3. Namecoin       149 BTC
4. NxT                 143 BTC
5. Ripple               84 BTC
6. Mastercoin       38 BTC

These numbers courtesy of coinmarketcap.com
I'm not sure if they include DEX Txs
Still interesting though, considering Counterparty has "near-zero" coordinated marketing at this time,
whilst I'm sure the others have sizeable budgets for such undertakings.

Counterparty is vastly superior and not based on developer greed. Thats why.

Only 'small' issue with XCP, is our lack of exposure. Only 2 nerds and 3 geeks know about it, and we can see tons of inferior coins (functionnality-wise) getting an insane value, just because of the hype. This is the only potential point of failure of XCP as of today.
Are the devs waiting for all the main tools to be up and running to start some real marketing and advertisement ? No one really knows... Like we don't really know what is going on with the current code-audit, supposing to happen now until the 19th.
Well, I guess you can't write code like crazy (recent number of commits is really huge) and have the time to write blogs and crap

[halfcab123]

On a positive note here are the trade volumes of the leading Bitcoin 2.0 projects within the last 24 hours:

1. Counterparty   154 BTC
2. Bitshares-PTS 152 BTC
3. Namecoin       149 BTC
4. NxT                 143 BTC
5. Ripple               84 BTC
6. Mastercoin       38 BTC

These numbers courtesy of coinmarketcap.com
I'm not sure if they include DEX Txs
Still interesting though, considering Counterparty has "near-zero" coordinated marketing at this time,
whilst I'm sure the others have sizeable budgets for such undertakings.

Counterparty is vastly superior and not based on developer greed. Thats why.

Only 'small' issue with XCP, is our lack of exposure. Only 2 nerds and 3 geeks know about it, and we can see tons of inferior coins (functionnality-wise) getting an insane value, just because of the hype. This is the only potential point of failure of XCP as of today.
Are the devs waiting for all the main tools to be up and running to start some real marketing and advertisement ? No one really knows... Like we don't really know what is going on with the current code-audit, supposing to happen now until the 19th.
Well, I guess you can't write code like crazy (recent number of commits is really huge) and have the time to write blogs and crap

Hmm blogs .. maybe we should talk about what initiatives average people can undertake to get some advertising going. I'm still planning on putting my video together, you can see an example, the cloudroid video.. the shorter 3 min one on youtube.com/halfcab123

[maxmint]

Only 'small' issue with XCP, is our lack of exposure. Only 2 nerds and 3 geeks know about it, and we can see tons of inferior coins (functionnality-wise) getting an insane value, just because of the hype. This is the only potential point of failure of XCP as of today.

Don't forget that Adam from Let's Talk Bitcoin is starting LTBcoin on top of Counterparty. This project will be launched soon and he's already talking about it in every show. I guess we will see quite an interest in LTBcoin and Counterparty once this went live.

[JahPowerBit]

I just did a push : https://github.com/JahPowerBit/counterpartyws

counterpartyws can now be used in 3 ways :

Heavy GUI
You must have bitcoind running. Counterpartyd follows blocks and uses local sqlite database to compose transaction.

Light GUI
You must have pyrpcwallet running and set composer-host and composer-port in config file. Counterpartyws uses distant counterpartyws running as Transactions Composer.

Transactions composer
You must have bitcoind running. Used by light counterpartyws to compose transactions.

We can say light wallet is ready in beta version (BoottleXCP is in fact only a GUI for counterpartyws, yes a GUI for a GUI ;-))
I need now to embed pyrpcwallet and counterpartyws in boottlexcp, and make intensive tests (Sorry about that, but I really do not have time to test as much as I should. But I planned to write tests as soon as I have time)

EDIT: Tomorrow I put online a counterpartyws in Transaction composer mode on xcpcomposer.jahpowerbit.org.

LightGUI and pyrpcwallet sound pretty exciting!  How can we (non developers) test this?
And will it be possible to import existing private keys in the wallet?

thank you. To test now, you need to follow the install instruction in the github README of counterpartyws and pyrpcwallet. I'am a afraid that it's a little difficult for a non developer. This night i will start to embed pyrpcwallet and the new counterpartyws in BoottleXCP. So in few days it will be easy to test.

I also plan to add the importprivkey feature in the next BoottleXCP release.

[halfcab123]

Xcp is the 2nd highest volume coin on bter!

[bitexch]

On a positive note here are the trade volumes of the leading Bitcoin 2.0 projects within the last 24 hours:

1. Counterparty   154 BTC
2. Bitshares-PTS 152 BTC
3. Namecoin       149 BTC
4. NxT                 143 BTC
5. Ripple               84 BTC
6. Mastercoin       38 BTC

These numbers courtesy of coinmarketcap.com
I'm not sure if they include DEX Txs
Still interesting though, considering Counterparty has "near-zero" coordinated marketing at this time,
whilst I'm sure the others have sizeable budgets for such undertakings.

Counterparty is vastly superior and not based on developer greed. Thats why.

Only 'small' issue with XCP, is our lack of exposure. Only 2 nerds and 3 geeks know about it, and we can see tons of inferior coins (functionnality-wise) getting an insane value, just because of the hype. This is the only potential point of failure of XCP as of today.
Are the devs waiting for all the main tools to be up and running to start some real marketing and advertisement ? No one really knows... Like we don't really know what is going on with the current code-audit, supposing to happen now until the 19th.
Well, I guess you can't write code like crazy (recent number of commits is really huge) and have the time to write blogs and crap

The community should be active in getting Counterparty more exposure. The devs have their hands full with coding, and it's up to us to help spread knowledge about Counterparty. We should be working together and brainstorming the best ways to make Counterparty more widely known in the Bitcoin community.

[bitwhizz]

maybe we should all chip in to pay a professional to create a marketing video for Counterparty which explains counterparty and its functionality super easily and fun to watch too, i would donate

[Bellebite2014]

maybe we should all chip in to pay a professional to create a marketing video for Counterparty which explains counterparty and its functionality super easily and fun to watch too, i would donate

That would make sense. Lovely devs, any chance to have someone coordinate all of this ?

[bitexch]

maybe we should all chip in to pay a professional to create a marketing video for Counterparty which explains counterparty and its functionality super easily and fun to watch too, i would donate

That would make sense. Lovely devs, any chance to have someone coordinate all of this ?

That's a great idea! And actually, xnova said that Counterwallet will be available for testing early this week, so we could use a nice GUI to explain Counterparty

I think it's really important that we move fast on this. Most coins with large market caps have lots of instructional videos, but Counterparty is one of the only ones with any new features!

We shouldn't rely on the devs to coordinate this, we should self organize. If a trusted member of the community were responsible for the funds, that would be good, and we wouldn't have to take the devs' attention away from the code. Maybe Matt can help us out?