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

[xnova]

Dev's: a few questions please:

1) I saw the "creating an asset" clip. I noticed that dividends can be paid with any currency and not just XCP. what was the reasoning behind this? it would seem that this can be a legitimate area for creating an exclusive need and use for xcp.

2) what (if at all) is in your view the potential affect of side chains on the CP future plans and development. Assuming that the potential security and implementation flaws in that are solved, and it is launched by the end of say 2014?

3) what is the road map for enabling XCP exclusive uses on the CP platform?

4) Are you for example planning to create actual real world samples of XCP exclusive advanced applications (such as advanced financial products and betting applications) or is your role expected to exclusively provide tools for entrepreneurs to go ahead  (or not) and use the platform for development of such products? or is it a combination of both?
 

Hi freedomfighter, good questions!

1. This is how it used to be. However, there are multiple good reasons for allowing arbitrary dividend distribution. We want to make the technology as useful as possible here, and not limit functionality for unnecessary reasons that limit the usefulness of the platform to others.

Insofar as enabling additional uses and business models to be able to work well with the underlying technology, XCP is (and will continue to be) still used exclusively for all binary options (“betting”) and  CFD functionality, and we believe it will show immense value there. Counterwallet will have the GUI for this in the next number of weeks, and there are a number of other (3rd party) efforts here underway in the community that we are aware of.

2. Regarding sidechains, your assumption is a big one. The security concerns around sidechains (and merge mining in general) are significant, especially when we're talking about potentially placing massive value on them. There are also significant economic incentivization concerns as well, given that token seigniorage is a moot point here, beyond that incurred through BTC itself.

However, to properly entertain the question... assuming those are both “solved”, there are two comments we could make here:

a. N-way pegged sidechain technology is a low-level, base technology, not a “shrink wrapped” product.  Thus, the specific offerings, end-user tech (web wallets, etc), community, and more must still be formed around them. The certainly respectable and admirable innovations of the Bitcoin developers aside, this is actually where the majority of the effort lies.

b. if the tech is secure and proven enough, Counterparty could employ a sidechain to get features such as quicker block times, etc. Of course, our use of it won't be in the context of a 2-way pegged chain, for instance, but the thing to understand here is that Counterparty is not tied to any specific technology. We use embedded consensus tech today, but that doesn't mean we have to use it 3 years down the road, for instance, if something else comes along that is decidedly superior. This is an organic effort, technology included.

The major value in what we are building rests on the businesses sprouting up around this, as well as all of the software and product offerings being developed. To generalize that point: the value and longevity of most any technology comes from actual human use and human mindshare, as opposed to being an intrinsic aspect of the technology itself. (Technology people oftentimes do not understand this.)

Given this, our focus has now shifted on utilizing our first mover advantage around promoting and establishing Counterparty as a solid platform for building “Bitcoin 2.0” businesses and applications (and we welcome any and all community support here in getting the word out – it's absolutely critical). As this equity builds, it becomes a positive feedback loop where the businesses building on Counterparty indirectly advocate for it, via the use and support of the tech, and quite often their support of liquidity in the DEx.

3. Covered in point #1. Betting and CFDs are the major things here, which should be in the GUI “shortly”. We also have another very, very interesting development under the works (i.e. in a closed beta) which should bring more value and liquidity to the market. Very excited about this. The person working on this knows what I am talking about , and can provide more detail here if he so wishes.

4. As the dev team, our mandate is to manage the spec, reference client, website, and counterwallet. Our goal in doing this is to create an open platform that others can use and build profitable business models on. This is already happening (we've had probably 10 phone calls this week with interested entrepreneurs that are already starting to build on Counterparty, and I'll be in SV next week promoting it). We're also started a bizdev campaign. On top of this all, we've had companies starting to offer assets on the Dex, and 3rd party devs are starting to develop their own technology around it. We want to create the base platform and tools that allow users to relatively easily add value. This is where our success lies.

The problem here is that our marketing is currently very much lacking, so word about all of this is not diffusing well. We recognize this and are doing something about it...thus the job post, which is already showing a lot of promise with regard to the responses received. We will also be starting a bi-weekly google hangout show soon, which should better help get the word out about all the great stuff going on with Counterparty.

Hopefully those responses will help. Our bizdev is already ratching up, and marketing will be shortly. However, we need community involvement on bitcointalk and elsewhere to make folks aware of Counterparty. The more people can help spread the word, the better.

[xnova]

Hello I'm attempting to move the xcp from my compromised wallet, but I'm unable to  select any action such as send using a chrome browser!

He/she has left  0.0007653 Bitcoin in dust in the account.

I've tried using internet explorer but can't even log in with this (and I have logged out of chrome and closed chrome browser first)!

Can someone please advise what I should do?

Thanks

Due to the update, try clearing your cache. If that doesn't work, try going to https://counterwallet.co/src/ and see if it's still an issue. Feel free to shoot us an email at dev@coutnterparty.co if neither of that fixes it.

[bitcoinrocks]

Dev's: a few questions please:

1) I saw the "creating an asset" clip. I noticed that dividends can be paid with any currency and not just XCP. what was the reasoning behind this? it would seem that this can be a legitimate area for creating an exclusive need and use for xcp.

2) what (if at all) is in your view the potential affect of side chains on the CP future plans and development. Assuming that the potential security and implementation flaws in that are solved, and it is launched by the end of say 2014?

3) what is the road map for enabling XCP exclusive uses on the CP platform?

4) Are you for example planning to create actual real world samples of XCP exclusive advanced applications (such as advanced financial products and betting applications) or is your role expected to exclusively provide tools for entrepreneurs to go ahead  (or not) and use the platform for development of such products? or is it a combination of both?
 

Hi freedomfighter, good questions!

1. This is how it used to be. However, there are multiple good reasons for allowing arbitrary dividend distribution. We want to make the technology as useful as possible here, and not limit functionality for unnecessary reasons that limit the usefulness of the platform to others.

Insofar as enabling additional uses and business models to be able to work well with the underlying technology, XCP is (and will continue to be) still used exclusively for all binary options (“betting”) and  CFD functionality, and we believe it will show immense value there. Counterwallet will have the GUI for this in the next number of weeks, and there are a number of other (3rd party) efforts here underway in the community that we are aware of.

2. Regarding sidechains, your assumption is a big one. The security concerns around sidechains (and merge mining in general) are significant, especially when we're talking about potentially placing massive value on them. There are also significant economic incentivization concerns as well, given that token seigniorage is a moot point here, beyond that incurred through BTC itself.

However, to properly entertain the question... assuming those are both “solved”, there are two comments we could make here:

a. N-way pegged sidechain technology is a low-level, base technology, not a “shrink wrapped” product.  Thus, the specific offerings, end-user tech (web wallets, etc), community, and more must still be formed around them. The certainly respectable and admirable innovations of the Bitcoin developers aside, this is actually where the majority of the effort lies.

b. if the tech is secure and proven enough, Counterparty could employ a sidechain to get features such as quicker block times, etc. Of course, our use of it won't be in the context of a 2-way pegged chain, for instance, but the thing to understand here is that Counterparty is not tied to any specific technology. We use embedded consensus tech today, but that doesn't mean we have to use it 3 years down the road, for instance, if something else comes along that is decidedly superior. This is an organic effort, technology included.

The major value in what we are building rests on the businesses sprouting up around this, as well as all of the software and product offerings being developed. To generalize that point: the value and longevity of most any technology comes from actual human use and human mindshare, as opposed to being an intrinsic aspect of the technology itself. (Technology people oftentimes do not understand this.)

Given this, our focus has now shifted on utilizing our first mover advantage around promoting and establishing Counterparty as a solid platform for building “Bitcoin 2.0” businesses and applications (and we welcome any and all community support here in getting the word out – it's absolutely critical). As this equity builds, it becomes a positive feedback loop where the businesses building on Counterparty indirectly advocate for it, via the use and support of the tech, and quite often their support of liquidity in the DEx.

3. Covered in point #1. Betting and CFDs are the major things here, which should be in the GUI “shortly”. We also have another very, very interesting development under the works (i.e. in a closed beta) which should bring more value and liquidity to the market. Very excited about this. The person working on this knows what I am talking about , and can provide more detail here if he so wishes.

4. As the dev team, our mandate is to manage the spec, reference client, website, and counterwallet. Our goal in doing this is to create an open platform that others can use and build profitable business models on. This is already happening (we've had probably 10 phone calls this week with interested entrepreneurs that are already starting to build on Counterparty, and I'll be in SV next week promoting it). We're also started a bizdev campaign. On top of this all, we've had companies starting to offer assets on the Dex, and 3rd party devs are starting to develop their own technology around it. We want to create the base platform and tools that allow users to relatively easily add value. This is where our success lies.

The problem here is that our marketing is currently very much lacking, so word about all of this is not diffusing well. We recognize this and are doing something about it...thus the job post, which is already showing a lot of promise with regard to the responses received. We will also be starting a bi-weekly google hangout show soon, which should better help get the word out about all the great stuff going on with Counterparty.

Hopefully those responses will help. Our bizdev is already ratching up, and marketing will be shortly. However, we need community involvement on bitcointalk and elsewhere to make folks aware of Counterparty. The more people can help spread the word, the better.

Uproarious applause and kudos to xnova for his professionalism and intellectual ability!

[halfcab123]

I want to say thanks to all who helped raised funds for the commercial. All of the equipment has arrived! I'm going to be giving a go at some rehearsal this weekend. I'll let you all know how everything goes. Next step is get a high power macbook, but I'll be handling all of those funds.

Thanks again to all, especially
Xnova and Flayaway,  the two largest donors

[scriptcloud]

How long does it need to trade using counterparty?

[halfcab123]

How long does it need to trade using counterparty?

The transaction times are determined by bitcoin miners solving blocks. So bitcoin time between blocks turns out to be the tx time..

[mrjoker]

 LTB Delayed release ??

[Blockscan]

Code:

C:\Documents and Settings\block>counterpartyd wallet

C:\Documents and Settings\block>echo off

Traceback (most recent call last):
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 835, i
n <module>
    get_address = get_address(db, address=address)
TypeError: 'dict' object is not callable

 

[led_lcd]

Code:

C:\Documents and Settings\block>counterpartyd wallet

C:\Documents and Settings\block>echo off

Traceback (most recent call last):
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 835, i
n <module>
    get_address = get_address(db, address=address)
TypeError: 'dict' object is not callable

 

Yes, I have the same problem.

Edit: I just switched counterpartyd.py for the version in the develop branch just to run counterpartyd wallet and that works. I switched it back to master before doing anything else.

[porqupine]

I posted on the forums but it seems they haven't pushed a fix yet. The get_address function got moved to counterpartyd.py from util.py, but the db connection didn't.
The quick fix would be to change your counterpartyd.py

Code:

get_address = get_address(db, address=address)

to

Code:

get_address = get_address(db=util.db, address=address)

[frozen123]

LTB Delayed release ??

The answer is yes,more details  :    http://ltbcoin.com/

[freedomfighter]

Dev's: a few questions please:

1) I saw the "creating an asset" clip. I noticed that dividends can be paid with any currency and not just XCP. what was the reasoning behind this? it would seem that this can be a legitimate area for creating an exclusive need and use for xcp.

2) what (if at all) is in your view the potential affect of side chains on the CP future plans and development. Assuming that the potential security and implementation flaws in that are solved, and it is launched by the end of say 2014?

3) what is the road map for enabling XCP exclusive uses on the CP platform?

4) Are you for example planning to create actual real world samples of XCP exclusive advanced applications (such as advanced financial products and betting applications) or is your role expected to exclusively provide tools for entrepreneurs to go ahead  (or not) and use the platform for development of such products? or is it a combination of both?
 

Hi freedomfighter, good questions!

1. This is how it used to be. However, there are multiple good reasons for allowing arbitrary dividend distribution. We want to make the technology as useful as possible here, and not limit functionality for unnecessary reasons that limit the usefulness of the platform to others.

Insofar as enabling additional uses and business models to be able to work well with the underlying technology, XCP is (and will continue to be) still used exclusively for all binary options (“betting”) and  CFD functionality, and we believe it will show immense value there. Counterwallet will have the GUI for this in the next number of weeks, and there are a number of other (3rd party) efforts here underway in the community that we are aware of.

2. Regarding sidechains, your assumption is a big one. The security concerns around sidechains (and merge mining in general) are significant, especially when we're talking about potentially placing massive value on them. There are also significant economic incentivization concerns as well, given that token seigniorage is a moot point here, beyond that incurred through BTC itself.

However, to properly entertain the question... assuming those are both “solved”, there are two comments we could make here:

a. N-way pegged sidechain technology is a low-level, base technology, not a “shrink wrapped” product.  Thus, the specific offerings, end-user tech (web wallets, etc), community, and more must still be formed around them. The certainly respectable and admirable innovations of the Bitcoin developers aside, this is actually where the majority of the effort lies.

b. if the tech is secure and proven enough, Counterparty could employ a sidechain to get features such as quicker block times, etc. Of course, our use of it won't be in the context of a 2-way pegged chain, for instance, but the thing to understand here is that Counterparty is not tied to any specific technology. We use embedded consensus tech today, but that doesn't mean we have to use it 3 years down the road, for instance, if something else comes along that is decidedly superior. This is an organic effort, technology included.

The major value in what we are building rests on the businesses sprouting up around this, as well as all of the software and product offerings being developed. To generalize that point: the value and longevity of most any technology comes from actual human use and human mindshare, as opposed to being an intrinsic aspect of the technology itself. (Technology people oftentimes do not understand this.)

Given this, our focus has now shifted on utilizing our first mover advantage around promoting and establishing Counterparty as a solid platform for building “Bitcoin 2.0” businesses and applications (and we welcome any and all community support here in getting the word out – it's absolutely critical). As this equity builds, it becomes a positive feedback loop where the businesses building on Counterparty indirectly advocate for it, via the use and support of the tech, and quite often their support of liquidity in the DEx.

3. Covered in point #1. Betting and CFDs are the major things here, which should be in the GUI “shortly”. We also have another very, very interesting development under the works (i.e. in a closed beta) which should bring more value and liquidity to the market. Very excited about this. The person working on this knows what I am talking about , and can provide more detail here if he so wishes.

4. As the dev team, our mandate is to manage the spec, reference client, website, and counterwallet. Our goal in doing this is to create an open platform that others can use and build profitable business models on. This is already happening (we've had probably 10 phone calls this week with interested entrepreneurs that are already starting to build on Counterparty, and I'll be in SV next week promoting it). We're also started a bizdev campaign. On top of this all, we've had companies starting to offer assets on the Dex, and 3rd party devs are starting to develop their own technology around it. We want to create the base platform and tools that allow users to relatively easily add value. This is where our success lies.

The problem here is that our marketing is currently very much lacking, so word about all of this is not diffusing well. We recognize this and are doing something about it...thus the job post, which is already showing a lot of promise with regard to the responses received. We will also be starting a bi-weekly google hangout show soon, which should better help get the word out about all the great stuff going on with Counterparty.

Hopefully those responses will help. Our bizdev is already ratching up, and marketing will be shortly. However, we need community involvement on bitcointalk and elsewhere to make folks aware of Counterparty. The more people can help spread the word, the better.

Thank you, Great answers.

[Peter Todd]

Let's Talk Bitcoin just published my interview with them explaining why side-chains are insecure and bad for decentralization: https://soundcloud.com/mindtomatter/ltb-e104-tree-chains-with#t=19:04

[halfcab123]

What's with the price spike ?

[Anotheranonlol]

What's with the price spike ?

I would ask what's was with the price drops?

[halfcab123]

What's with the price spike ?

I would ask what's was with the price drops?

Well I agree we've all been asking that, but if the price suddenly goes up with some serious buy volume, I imagine something specific has occurred... some good news I hope!

[frozen123]

Let's Talk Bitcoin just published my interview with them explaining why side-chains are insecure and bad for decentralization: https://soundcloud.com/mindtomatter/ltb-e104-tree-chains-with#t=19:04

Thanks for cross- post about those new theories here,first time heard about tree chains.

[Anotheranonlol]

What's with the price spike ?

I would ask what's was with the price drops?

Well I agree we've all been asking that, but if the price suddenly goes up with some serious buy volume, I imagine something specific has occurred... some good news I hope!

I don't see any serious volume (much like NXT and MSC), the exchanges have such low liquidity, and the spreads are large, it's not surprising trying to buy any meaningful qty has such impact on the price. It seems Bter orderbooks are a little manipulated too, or at least plagued by bots trying to scalp. The recent succession of drops are totally unwarranted for such a promising project, but that's a reality of this ADHD cashgrab markets we are in, if someone came out with a standard QT wrapper of a coin, with Proof-of-burn of XCP and Pure POS after distribution which is current flavor of the month after all the country based shitcoin gimmicks, quick listing on mintpal and we'd have 50- 100x volume in a day and dramatic price increase.
 
Some of the recent IPO's and asset issuances leveraging CounterParty as well as coverage by respected names such as Peter Todd et al on LTB can't have hurt however.Great to see those guys engaging in discussion. This is like Bitcoin in early-mid 2010, I remember exactly the feeling. Markets aren't ready for it yet, only a few people can grasp the long-term implications of this technology, but it will gradually pick up steam like a rolling snowball , it's inevitable.

[bitcoinrocks]

From what I can tell... the question is, will this new technology be built into BTC itself, will it be utilized in something like XCP which is built on top of BTC, will it be implemented in another BTC-related way like with sidechains, or will it happen in a separate blockchain like NXT?

Can anyone tell me where Ethereum fits into all of this?  I'm not clear on how it compares.

[Patel]

Adam B Levine said LTBCOIN will launch on Counterparty (XCP)

They will be issuing tokens to creators of the content/articles, and then advertisers can buy those tokens for advertising space on the website. It sounds like a great plan.