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

[BitcoinTangibleTrust]

Actually Phantom a small correction:

We need full flexibility to issue 1 new Asset name for each Silver/Gold/Whatever physical asset if needs arise from our customers either at issuance or redemption.

Of course you'll have the ability to do that. But I think that there will be downsides in usability. (For instance, it will be harder to trade them on the distributed exchange if a price cannot be established. If all of the silver coins are the same, then they should be priced the same.)

Excellent point. We're in new territory here, but we aim to simply be a decentralized digitizing platform/marketplace for our clients. We take the Craigslist/eBay approach to listings. Customers control the price they wish to trade on the DEX, but it will be buyers to determine what price is fair. We do not aim to centralize gold/silver prices.

Maybe this is a great opportunity for a Counterparty community member to start pricing out Gold and Silver feeds for Spot?

[BitcoinTangibleTrust]

200% markup?  That's going to leave alot of room for competition. . . Gold and silver online sells the physical item for half price in dollars. Do you plan on syncing the fiat equivalent in your bitcoin pricing?  If this has already been answered, I apologize.

I'm sorry halfcalb123, are you referring to our Two 1 ozt Credit Suisse Gold .9999 Fine (In Assay) Digital Coins for BTC 4.3 or $2,672.00?

That item is for 2 Gold Bars at $1,367.00 per ounce at today's spot or $2,734.00. I think the advertised price is possibly $62.00 cheaper than today's gold price.

Did I err in my understanding of your post?

[bitexch]

bitwhizz and halfcab123: could you tell us what you're planning for the video?

[halfcab123]

bitwhizz and halfcab123: could you tell us what you're planning for the video?

I'll have the story board done by Wednesday and should have a Teaser by Monday

[qwertyqwerty]

SpainCoin   $ 24,429,096   $ 0.96   25,323,976 SPA   $ 372,240   -67.76 %   
Counterparty   $ 12,576,285   $ 4.75   2,648,641 XCP*   $ 21,508

Depressing. spaincoin, really?... how can such a blatant shitcoin copy of what was a shitty gimmick in the first place eclipse trading volume and market cap of of a revolutionary and innovate protocol such as xcp. These ADHD altcoin markets are disgusting.

[halfcab123]

In the past, thieves have taken great ideas, claimed them as their own and rewrote history. No matter how brilliant Counterpary is (and I believe it is very) it is naive to think it will speak for itself.

[miscreanity]

I don't think the fee should be destroyed. It would be a much better idea to pay it to Bitcoin miners or XCP holders. No? Maybe I don't understand it well enough.

But yeah 5 xcp seems a bit much.

Destroying the fee is paying it to XCP holders.

Destroying the fee reduces unit availability, which isn't necessarily an issue if the destruction process will last longer than the system's usefulness. However, I think a better option would be to simply lock the fee (unless called back). Creating an uncallable asset would essentially be burning.

[BitThink]

 I really don't think 5 XCP is a big price to a serious issuance now. the problem is just that it is burnt. However, even there will be 10k assets, 50k XCP is still a small part of 2.6M. Moreover, the fee can be reduced later when XCP appreciate a lot.

Please don't low the fee too much and otherwise there will be a lot of rubbish asset names.

[miscreanity]

I really don't think 5 XCP is a big price to a serious issuance now. the problem is just that it is burnt. However, even there will be 10k assets, 50k XCP is still a small part of 2.6M. Moreover, the fee can be reduced later when XCP appreciate a lot.

Please don't low the fee too much and otherwise there will be a lot of rubbish asset names.

True, 5 XCP isn't painful, and I don't even think the burning is a problem -- with fees to be determined by PoS, there should be an ever-decreasing fee schedule along with the decreasing available supply.

What's missing in that approach is the flexibility of claiming an asset. Imagine a company being liquidated, its XCP holdings one of the assets freed when the shares are called back. In bankruptcy that could be used to cover debts. Alternatively, locking the starting funds could allow a business to transition from shareholder-owned to employee-owned.

Assume a sizeable amount of startup funds are used as the asset creation fee. With those funds locked up, the business has to either acquire additional funding or perform to build itself up. As the business grows, it can start to buy back shares and either call back outstanding issues to free up locked funds, or employees of the business can obtain those shares and opt to call them back as needed. This would be much like a retirement fund.

Insurance funds can be similarly structured such that each policy issued has funds locked and instantaneously auditable. None of these potentials would be realistic with burning as a means of asset issuance.

[canth]

I don't think the fee should be destroyed. It would be a much better idea to pay it to Bitcoin miners or XCP holders. No? Maybe I don't understand it well enough.

But yeah 5 xcp seems a bit much.

Destroying the fee is paying it to XCP holders.

"Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone."

PS: I'd say 1 XCP for new assets. I like round & prime numbers. I'm afraid to see a wave a spam issuances like COKE/CRACK/METH/DILDO/FRENCHGIRL coming from the same guy if you lower it too much...

I am of the same view as well. We need to reduce the fees to encourage businesses, however at the same time not lower it too much that there will be spam issuances and asset squatting. Which will stand in the way of legitimate businesses and users.
1 XCP seems about right (Nxt has an issuance fee of 1000 Nxt).

+1. I agree that 1 XCP seems a reasonable issuance cost. If you drop it lower than that I think it's very likely it'll need to be increased to reduce the clutter.

[halfcab123]

Can't wait to get all Web wallety.

[akann46]

Can't wait to get all Web wallety.

Will the web wallet affect the XCP price in positive way?

[halfcab123]

Can't wait to get all Web wallety.

Will the web wallet affect the XCP price in positive way?

At first probably not, lots of dumping but then longer term near certainly. I think most would agree.

[akann46]

Can't wait to get all Web wallety.

Will the web wallet affect the XCP price in positive way?

At first probably not, lots of dumping but then longer term near certainly. I think most would agree.

Why not a minimum XCP balance, say 1 XCP, be imposed on web wallet to support XCP price?

[Bellebite2014]

Can't wait to get all Web wallety.

Will the web wallet affect the XCP price in positive way?

Yes, the value will X1000 and we will all be billionaires, because this is how it works, right ?

Noob alert...

Decent and realistic comment from Halfcab though. Lot of people will cash out, and jump into Ether or whatever.

[halfcab123]

Can't wait to get all Web wallety.

Will the web wallet affect the XCP price in positive way?

Yes, the value will X1000 and we will all be billionaires, because this is how it works, right ?

Noob alert...

Decent and realistic comment from Halfcab though. Lot of people will cash out, and jump into Ether or whatever.

Btc-market.net is selling ether for 0.25 btc lol.

[Bellebite2014]

Can't wait to get all Web wallety.

Will the web wallet affect the XCP price in positive way?

At first probably not, lots of dumping but then longer term near certainly. I think most would agree.

Why not a minimum XCP balance, say 1 XCP, be imposed on web wallet to support XCP price?

Your very insightful financial comments are teaching us so much. Please tell us more.

[akann46]

Can't wait to get all Web wallety.

Will the web wallet affect the XCP price in positive way?

At first probably not, lots of dumping but then longer term near certainly. I think most would agree.

Why not a minimum XCP balance, say 1 XCP, be imposed on web wallet to support XCP price?

Your very insightful financial comments are teaching us so much. Please tell us more.

61 useful comments so far.

idiot alert.

Community has a lot to learn from this guinea pig

[flayway]

Can't wait to get all Web wallety.

Will the web wallet affect the XCP price in positive way?

Yes, the value will X1000 and we will all be billionaires, because this is how it works, right ?

Noob alert...

Decent and realistic comment from Halfcab though. Lot of people will cash out, and jump into Ether or whatever.

Btc-market.net is selling ether for 0.25 btc lol.

They sell XCP also 0.02 so that is near 3x over priced there and because ethereum have so much hype its 5x-10x price After all only bitcoin blockchain survive with XCP and mastercoin and over priced mastercoin no get action so winner is XCP  

[romerun]

Ether iPo is out or it's pre of presale? Tired of these scumbags