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

[RoxxR]

Why not just use the official windows binaries? That would be the fastest way to get boottleXCP up and running.  They are on github repo, I don't have the exact link at hand though

[halfcab123]

Why not just use the official windows binaries? That would be the fastest way to get boottleXCP up and running.  They are on github repo, I don't have the exact link at hand though

What happens when you use the windows binaries and then there's an update? Counterparty won't run unless it's up to date right and then you have to rely on someone to keep building binaries up to date with the latest commits or version updates

Can someone correct me ?

[samperi649]

Why not just use the official windows binaries? That would be the fastest way to get boottleXCP up and running.  They are on github repo, I don't have the exact link at hand though

http://www.reddit.com/r/xcp/comments/1zzhyg/

[wizzardTim]

JahPowerBit, developer of BootleXCP and pyrpcwallet, will join Counterparty full-time.

https://www.counterparty.co/fulltime-developer-counterparty/

to the mooon!

[halfcab123]

Is there any reason why

Code:

run.py counterpartyd server

Would throw a syntax error?

[l4p7]

JahPowerBit, developer of BootleXCP and pyrpcwallet, will join Counterparty full-time.

https://www.counterparty.co/fulltime-developer-counterparty/

to the mooon!

+1 

[flatfly]

JahPowerBit, developer of BootleXCP and pyrpcwallet, will join Counterparty full-time.

https://www.counterparty.co/fulltime-developer-counterparty/

to the mooon!

+1  

Such an awesome surprise! So this means we can expect many more great things
Kudos, Jah!   Best news in a while.

[flatfly]

Why not just use the official windows binaries? That would be the fastest way to get boottleXCP up and running.  They are on github repo, I don't have the exact link at hand though

What happens when you use the windows binaries and then there's an update? Counterparty won't run unless it's up to date right and then you have to rely on someone to keep building binaries up to date with the latest commits or version updates

Can someone correct me ?

Under Windows, you can always manually update the counterpartyd daemon embedded in BoottleXCP by getting the latest counterpartyd master ZIP file from github and extracting it into the following location (overwriting existing files):

 %APPDATA%\Boottle000\0010FL\Python33\BoottleXCP\counterpartyd

 or

 C:\Documents and Settings\USERNAME\Application Data\Boottle000\0010FL\Python33\BoottleXCP\counterpartyd

Hopefully, BoottleXCP should soon have the built-in ability to update counterpartyd to the latest version in a click.

[l4p7]

why is not the ideal solution?
how long does counter party have to implement it? more so, the question,
when is luke JR getting rid of multisig?
how quickly qould it take development wise to change to something like that miltisig p2sh

1) The implementation complexity is greater than with OP_RETURN.
2) The fees are higher, too.
3) You are still creating outputs that are not immediately provably prunable.
4) It's generally hackish.

jgarzik, for one, would probably dislike the idea of using P2SH because of 3) and 4), I'd guess.

On the other hand, both P2SH and bare multi-sig give us a lot more space to work with than 80 bytes, so in the long run, unless the size of the OP_RETURN space gets increased dramatically, we also have a significant incentive to keep putting our data in fake ECDSA public keys.

There's no rush at all to move away bare multi-sig, which it has not been decided to retire anyway. It won't take long to start using other encoding methods, and I'm working on this (including pay-to-pubkeyhash) right now anyway.

PhantomPhreak,
are you in contact with the btc core devs so that there will no be any kind of negative surprise that Counterparty can not adapt to fast enough?

Yes. Of course, Bitcoin Core is entirely open source, and dramatic changes to the functionality of the software are always knowable in advance. (Unfortunately, we missed the merging of the 40-byte OP_RETURN into Bitcoin Core.) Code for getting around the disabling of bare multisig outputs will be out very soon, just in case, though.

good that I didnt sell any

[led_lcd]

@LED_LCD, @CityGlut @Community

Video Update: Things are going well!

It was great speaking to you halfcab123. All the best and let me know if there is anything I can help you with.

[halfcab123]

So if I understand correctly the pyrpcwallet does not require a bitcoin blockchain sync ? Can someone please link me to this And I assume there's docs for it

[kdrop22]

So if I understand correctly the pyrpcwallet does not require a bitcoin blockchain sync ? Can someone please link me to this And I assume there's docs for it

Here is the link to pyrcwallet.
https://forums.counterparty.co/index.php/topic,166.0.html
The instructions seem to be for Mac(brew). If anyone figures it out for Windows/Linux let me know.
EDIT: See instructions from Jahpowered bit (on the last page) for installing sqllite without brew.

[BitzMD]

@LED_LCD, @CityGlut @Community

Video Update: Things are going well!

It was great speaking to you halfcab123. All the best and let me know if there is anything I can help you with.

i second that, halfcab is a great guy:) not only that but this community has impressed me with the way it handled the recent situation, kudos!

[qxzn]

EDIT: I will also that ask that you and Luke-Jr discuss the Coiledcoin 51% attack accusations separately from this thread, if that's okay.

No, I believe the Coiledcoin attack should be a part of this discussion. I would never have known about it if it hadn't been brought up, so I investigated what happened. What Luke-jr did to Coiledcoin was similar to a bully on the beach coming along and kicking apart a sand castle some kids were in the middle of building, saying it was in the way of people walking on the beach as justification. He used computing resources which did not belong to him, but were entrusted to his care, to sabotage another project.

This discussion has shown some serious problems with Bitcoin, a high degree of consolidation of centralized control, which needs to be addressed. Proof of work mining was the main turn-off as a gross waste of resources and energy when I first learned about Bitcoin. It would be good if Counterparty and Mastercoin could migrate away from Bitcoin, preferably to a PoS or proof of contribution blockchain.

Can somebody post some credible sources about the coiledcoin event? I currently mine via Eligius and would like to reconsider if this is being accurately portrayed.

More generally, I think pools should be a lot more aggressive about differentiating themselves politically, so small-time miners can 'vote' to support the kind of bitcoin we want. (Though I also understand Adam Back's point, that the miners aren't all that important in comparison to the 'political' clout of the people simply running a node, I still think there's some signal in supporting certain pools over others).

[qxzn]

I can't help but feel like we're wasting our time fighting over bitcoin, when it's not all that well suited to a DEX anyway, due to the long confirmation times. Didn't somebody just post that this has become excruciatingly clear with the advent of counterwallet?

[BitcoinTangibleTrust]

I can't help but feel like we're wasting our time fighting over bitcoin, when it's not all that well suited to a DEX anyway, due to the long confirmation times. Didn't somebody just post that this has become excruciatingly clear with the advent of counterwallet?

Not all Counterwallet DEX transactions require short confirmation times, my good sir! 

[SlickTheNick]

Anyone have any thoughts on this? From the counterparty forums:

For those think 10 minutes is slow, or Bitcoin devs don't like to modify OP_RETURN to 80 bytes.  I have an idea to solve all these problems.  That is to make XCP float on a lot of coins.  See details below:

Add an "operation/transaction type" into XCP protocol called "BURN_TO_REBORN".


The "BURN_TO_REBORN" has a parameter named "targetRebornCoinName".
this method's code is like:
BURN_TO_REBORN(string targetRebornCoinName)


Then you can BURN your XCP by using this "BURN_TO_REBORN" on the Bitcoin blockchain.


Save the transaction ID of which the "BURN_TO_REBORN" Bitcoin transaction is in, it will be used later.


After 6 confirms, then you can claim/request to REBORN (with the Bitcoin transaction ID of "BURN_TO_REBORN" as a parameter) your XCP on Dogecoin or LiteCoin or other Altcoin blockchain.


The XCP daemon/program/heavy-client on Dogecoin or other Altcoin, will check if this REBORN request is valid( has a correct BURN_TO_REBORN in the Bitcoin blockchain ) and have a correct  parameter.


If the REBORN(parameter) is correct and valid.  Then your XCP is REBORN in Dogecoin. (or other altcoin you like)


You only can reborn your XCP on one Altcoin blockchain, which is specified in the parameter targetRebornCoinName of the BURN_TO_REBORN method.


Through this way, XCP can move / float on all coins.
The value of 1 XCP in all bitcoin and altcoins blockchains has the same value . Because they can move between altcoins freely.


There will be 2 kinds XCP users:
  1. light-client user, just like the current XCP user.
  2. heavy-client user, those will do the verify work to check all the BURN_TO_REBORN and REBORN messages between all the selected Altcoins' blockchains.  Heavy-client users can earn/mine the XCP fees in all the BURN_TO_REBORN and REBORN messages.




Result:
1. This way, we can make XCP a super coin -- float on all coins.
2. And XCP will become the "media/middle-coin" to convert coins between all kinds of altcoins.
3. Solve the 10 minutes slow confirm problem.  Because those like to make fast transactions can move their XCP coins into a fast blockchains/altcoins.
4. Solve the 80 bytes problem and other Bitcoin devs' noncooperation problem. If Bitcoin devs want to filter XCP, we can just move to other coins easily.

Source: https://forums.counterparty.co/index.php/topic,195.0.html

Anyone have any thoughts on why this may or may not work? Because it sounds like almost a perfect solution (I have no actual idea so take that with some salt). XCP would gain the advantages of all blockchains. Want to trade and perform actions at a higher frequency? just move your XCP to dogecoin or something. Want the security of the bitcoin blockchain for your assets? Just keep it on BTC.

[jl777]

Anyone have any thoughts on this? From the counterparty forums:

For those think 10 minutes is slow, or Bitcoin devs don't like to modify OP_RETURN to 80 bytes.  I have an idea to solve all these problems.  That is to make XCP float on a lot of coins.  See details below:

Add an "operation/transaction type" into XCP protocol called "BURN_TO_REBORN".


The "BURN_TO_REBORN" has a parameter named "targetRebornCoinName".
this method's code is like:
BURN_TO_REBORN(string targetRebornCoinName)


Then you can BURN your XCP by using this "BURN_TO_REBORN" on the Bitcoin blockchain.


Save the transaction ID of which the "BURN_TO_REBORN" Bitcoin transaction is in, it will be used later.


After 6 confirms, then you can claim/request to REBORN (with the Bitcoin transaction ID of "BURN_TO_REBORN" as a parameter) your XCP on Dogecoin or LiteCoin or other Altcoin blockchain.


The XCP daemon/program/heavy-client on Dogecoin or other Altcoin, will check if this REBORN request is valid( has a correct BURN_TO_REBORN in the Bitcoin blockchain ) and have a correct  parameter.


If the REBORN(parameter) is correct and valid.  Then your XCP is REBORN in Dogecoin. (or other altcoin you like)


You only can reborn your XCP on one Altcoin blockchain, which is specified in the parameter targetRebornCoinName of the BURN_TO_REBORN method.


Through this way, XCP can move / float on all coins.
The value of 1 XCP in all bitcoin and altcoins blockchains has the same value . Because they can move between altcoins freely.


There will be 2 kinds XCP users:
  1. light-client user, just like the current XCP user.
  2. heavy-client user, those will do the verify work to check all the BURN_TO_REBORN and REBORN messages between all the selected Altcoins' blockchains.  Heavy-client users can earn/mine the XCP fees in all the BURN_TO_REBORN and REBORN messages.




Result:
1. This way, we can make XCP a super coin -- float on all coins.
2. And XCP will become the "media/middle-coin" to convert coins between all kinds of altcoins.
3. Solve the 10 minutes slow confirm problem.  Because those like to make fast transactions can move their XCP coins into a fast blockchains/altcoins.
4. Solve the 80 bytes problem and other Bitcoin devs' noncooperation problem. If Bitcoin devs want to filter XCP, we can just move to other coins easily.

Source: https://forums.counterparty.co/index.php/topic,195.0.html

Anyone have any thoughts on why this may or may not work? Because it sounds like almost a perfect solution (I have no actual idea so take that with some salt). XCP would gain the advantages of all blockchains. Want to trade and perform actions at a higher frequency? just move your XCP to dogecoin or something. Want the security of the bitcoin blockchain for your assets? Just keep it on BTC.

If ever any of the other chains goes onto a fork or does a blockchain rewind, any floating XCP that got sold would end up being able to be double spent.

Maybe this is a rare enough thing, then again, didnt DOGE just have one of these? The stability of XCP would end up being the stability of the weakest chain it ever floated on

James

[perizzites]

DOGE recently had an intentional fork to fixed-reward blocks because multipools were snatching up the best random-reward blocks and leaving the poor ones for the DOGE miners.

[jl777]

DOGE recently had an intentional fork to fixed-reward blocks because multipools were snatching up the best random-reward blocks and leaving the poor ones for the DOGE miners.

regardless of the reason,wouldnt any floating XCP on a soon to be obsolete fork be a double spend risk? This is because when the fork is reconciled, any DOGE transactions automatically get back to what they should be, but how does the floating XCP get undone?