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

[deliciousowl]

counterparty is so undervalued atm, weak hands 

[OTK47]

counterparty is so undervalued atm, weak hands 

Where are these weak hands you talk of?

[halfcab123]

counterparty is so undervalued atm, weak hands 

Where are these weak hands you talk of?

I would say at bare minimum XCP should be roughly ~(1/6)of(MSC/BTC)

[digital7]

when I  import (Sweep) Funds in counterwallet , it say  Not a valid private key.  but my private key is valid .
anyone have a same trouble?

[halfcab123]

when I  import (Sweep) Funds in counterwallet , it say  Not a valid private key.  but my private key is valid .
anyone have a same trouble?

When you export your key from blockchain.info, make sure its "unencrypted" and "bitcoinQT" format...
Check the video in my signature for more information.

[Anotheranonlol]

It would be good if coinmarketcap could include the DEX itself in trading volume.

[halfcab123]

It would be good if coinmarketcap could include the DEX itself in trading volume.

I agree with this +1

[baddw]

It would be good if coinmarketcap could include the DEX itself in trading volume.

I agree with this +1

I just submitted this in a request to the coinmarketcap request form:

https://docs.google.com/forms/d/1IZf5cBivam_93zENT_arFFuvWDidHGjWxoTMVmFSoWg/viewform

Probably wouldn't hurt to have more people request this!

[PhantomPhreak]

It would be good if coinmarketcap could include the DEX itself in trading volume.

I agree with this +1

I just submitted this in a request to the coinmarketcap request form:

https://docs.google.com/forms/d/1IZf5cBivam_93zENT_arFFuvWDidHGjWxoTMVmFSoWg/viewform

Probably wouldn't hurt to have more people request this!

As I understand it, no one yet provides a web API sufficient  to give Coinmarketcap all of the information that it needs to make this happen.

[halfcab123]

It would be good if coinmarketcap could include the DEX itself in trading volume.

I agree with this +1

I just submitted this in a request to the coinmarketcap request form:

https://docs.google.com/forms/d/1IZf5cBivam_93zENT_arFFuvWDidHGjWxoTMVmFSoWg/viewform

Probably wouldn't hurt to have more people request this!

As I understand it, no one yet provides a web API sufficient  to give Coinmarketcap all of the information that it needs to make this happen.

Probably because it could be easily manipulated eh ? Maybe they could run counterpartyd on their server to keep checking for the last btcpay at a protocol level, but I doubt they do that.

[PhantomPhreak]

It would be good if coinmarketcap could include the DEX itself in trading volume.

I agree with this +1

I just submitted this in a request to the coinmarketcap request form:

https://docs.google.com/forms/d/1IZf5cBivam_93zENT_arFFuvWDidHGjWxoTMVmFSoWg/viewform

Probably wouldn't hurt to have more people request this!

As I understand it, no one yet provides a web API sufficient  to give Coinmarketcap all of the information that it needs to make this happen.

Probably because it could be easily manipulated eh ? Maybe they could run counterpartyd on their server to keep checking for the last btcpay at a protocol level, but I doubt they do that.

No, it's just that Blockscan, e.g., doesn't provide volume data or order book depth, etc..

[nakaone]

adam was writing about this a few days ago in the counterwallet chat, any comments, especially by the developers on that?

http://letstalkbitcoin.com/blockchain-2-0-let-a-thousand-chains-blossom/#.U0XaLPl_ulc

it could solve quite a ton of problems, doesn't it? is there a problem with the migration of xcp on that chains?

[kdrop22]

adam was writing about this a few days ago in the counterwallet chat, any comments, especially by the developers on that?

http://letstalkbitcoin.com/blockchain-2-0-let-a-thousand-chains-blossom/#.U0XaLPl_ulc

it could solve quite a ton of problems, doesn't it? is there a problem with the migration of xcp on that chains?

a) It appears that the side chains cannot offer any block rewards.
b) They would need to achieve a certain level of hashing power.
I am not sure how b) would be possible without a)
c) Another note, I read elsewhere is that. The value of the 'betacoin' on the side chain can never exceed 1 BTC. As coins can always be moved from the Bitcoin blockchain into the side chain.
While this seems like a nice way to experiment. I am not sure what are the incentives for the AltCoin developers (zero profit).

If someone more technical can review the details and post a ELI5 that would be great.

[maaku]

I am one of the unnamed core developers working with Adam Back on this project. (Though as a part-time consultant - most of my time is still spent on self-directed projects paid for by community donations.)

a) It appears that the side chains cannot offer any block rewards.

They absolutely can. We just think that unless there is an economic difference from bitcoin and other existing p2p issued coins, there's absolutely no justification for doing so.

b) They would need to achieve a certain level of hashing power.
I am not sure how b) would be possible without a)

You realize that bitcoin has the same problem, once the subsidy drops to a negligible amount?

Transaction fees are one solution, or you can have the coins demurrage in the side chain allowing for a perpetual reward. (Demurrage with pegged currencies is possible, as the pegging mechanism provides friction). There are other mechanisms being considered as well.

c) Another note, I read elsewhere is that. The value of the 'betacoin' on the side chain can never exceed 1 BTC. As coins can always be moved from the Bitcoin blockchain into the side chain.
While this seems like a nice way to experiment. I am not sure what are the incentives for the AltCoin developers (zero profit).

Approximately the same incentives as Counterparty, which also forgoes the scummy currency issuance model.

The asset issuance and smart property contracts layer is free infrastructure that is difficult if not impossible to monetize directly, yes. But there are an infinitum of profitable services that can be built on such a layer.

[kdrop22]

Thanks Maaku

[BitcoinTangibleTrust]

I am one of the unnamed core developers working with Adam Back on this project.

Hello Mark. Thanks for sharing. A few questions if that's okay?

1) There are rumors circulating that your group, including (AdamBack and AustinHill) have organized the miners to sign-up to agree to changes in bitcoinclient to allow this initiative to succeed. Will you be able to speak to exactly whether this is true or whether this will be just Luke-Jr's pool for now? Source: "Working with mining pools to discuss further utilization and expansion of merged mining" http://letstalkbitcoin.com/blockchain-2-0-let-a-thousand-chains-blossom/

2) This startup company that is backing this initiative (we heard that you are funded as well) to implement sidechains seems to essentially be the first time a company is influencing bitcoin core dev decision making, directly. Can you speak to the relationship between this company and the bitcoin coredevs involved in this project? Should we assume that the core devs are now giving preferential treatment to companies that want to advance their own bitcoin initiatives by paying core devs to work for them? This would seem to be a pivotal point in bitcoin's development cycle.

3) Lastly, if your startup company intends to profit from sidechain implementation, why should companies like mine trust you to allow us to build on these new chains? If you can now influence bitcoin development to your own company's interests, it seems that all sidechain capabilities will be built to advance your corporate interests first, above all other companies. The awesome opportunity with Counterparty is that the devs have created a simple, free, and fair protocol that does not put Counterparty's dev interests above the interests of startups building on their protocol. However, with Adam Back and Austin Hill creating a "for profit" company on bitcoin core and pushing their agenda (profit seeking which is okay) companies like mine now have new risk to consider with these new features. You are creator of this protocol feature and possibly our direct competitor, as well.

TL;DR: Are we seeing the commercialization of the bitcoin core devs with this new project to launch side-chains?

Thanks
BTT

[maaku]

There is no commercialization of bitcoin core development going on here. Adam and Austin are seeking to employ core developers as a way of supporting work on bitcoin core. There are some developers who are working with them as contractors or early employees. There are also some developers and community members who are working with them in an unpaid capacity because we see what they are doing as beneficial to the future of bitcoin. From my vantage point this is more along the lines of core developers influencing the direction of this company than the other way around.

Speaking personally, I highly value my independence as an open source developer and my involvement was conditional on that remaining the case. It is vitally important that there are some core developers who are free to work on aspects of bitcoin that are vital yet may not immediately affect the bottom line of their employers, just as it is important to have developers making decisions which are in the interests of users not industry. It is my understanding that Adam and Austin are working on a non-profit aspect of this endeavor as well, sortof like the Mozilla foundation, which would be strictly independent from the for-profit apparatus. I'm sure details of that will emerge in time.

There are no changes to bitcoin required for nearly all of what we are working to accomplish, although a few aspects would be greatly enhanced by some bitcoin core changes (e.g. support for the return peg). These changes will be proposed and reviewed like any other and not given any special treatment. Part of why you are starting to see some PR about this company is that we want to start the conversation now about the nature of these changes and the necessity for their adoption.

Regarding your third question, these public side-chains are 100% decentralized and uncontrolled by any single party. There is also a concept of "private accounting servers" which is a high-volume centrally managed transaction server that naturally would have operator fees involved. However the code for running and/or auditing either of these would be 100% free, fair, open-source, unrestricted and unencumbered. The day this stops being the case is the day I quit.


That's probably all I can say about the company itself. I'd be happy to entertain any questions about 2-way pegging, side-chains, in-chain user assets, distributed exchanges, and private accounting servers. (Some details of which I already posted to this thread previously).

[prophetx]

XCP can never up to .25 btc again.

It never has been .25 btc

yup.

anyway who do you think has more value:

the notary who notarizes a contract

the trader who negotiates a deal with two parties for that contract

the dude who brings those parties to the trading floor

----

bitcoin is one of those, xcp and mastercoin is another, the dude well ...

[burnfat]

I tried to transfer xcp from blockchain address to counterwallet. I take private key from the blockchain BTC wallet under the option " Export unencrypted". When I imported the private key to counterwallet, it shows "Not a valid private key". Anyone know how to solve this problem? Many thank.

[stereotype]

I tried to transfer xcp from blockchain address to counterwallet. I take private key from the blockchain BTC wallet under the option " Export unencrypted". When I imported the private key to counterwallet, it shows "Not a valid private key". Anyone know how to solve this problem? Many thank.

Try this.... https://bitcointalk.org/index.php?topic=395761.msg6145226#msg6145226