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

[porqupine]

Yeah and then the difficulty goes up and you end up with 30 minute blocks.

edit: The Bitcoin wiki says I'm wrong:

In addition, if no block has been found in 20 minutes, the difficulty automatically resets back to the minimum for a single block, after which it returns to its previous value.

But I distinctly remember 30 minute blocks when Counterwallet was first launched. Any ideas?

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[overthetop2011]

I think all XCP's should be re-burnt and replaced with a shared ownership of some of kind of fee structure within the system (then dividends can be paid to shareholders). XCP's are a pretty pointless design element of the system (unless someone can explain otherwise) and there doesn't seem to be any element in the system to provide financial incentives in any way.

It may be a good idea.

XCP  can not bring profits to shareholders at present , so the Price is going down.

We can think about re-burnt the xcp to get a chance to re-design a profitable one, and that will make the new-xcp as a real DAC.

Let us think about it.  

[kenny2]

I think all XCP's should be re-burnt and replaced with a shared ownership of some of kind of fee structure within the system (then dividends can be paid to shareholders). XCP's are a pretty pointless design element of the system (unless someone can explain otherwise) and there doesn't seem to be any element in the system to provide financial incentives in any way.

It may be a good idea.

XCP  can not bring profits to shareholders at present , so the Price is going down.

We can think about re-burnt the xcp to get a chance to re-design a profitable one, and that will make the new-xcp as a real DAC.

Let us think about it.  

Interesting

[JahPowerBit]

2. The need to have BTC dust in order to send XCP:

Again, I understand why this is required but it does impact usability, since you first need to send dust to the address before doing anything. This is just a suggestion and it would obviously need to be funded somehow, but is there some way of automatically sending dust to an address whenever it is needed? Perhaps if funds from the “fee required” were sent to a dev-controlled address as discussed above they could then be reallocated towards proving dust to addresses whenever it’s needed. Just throwing the idea out there so feel free to comment or criticize. I think it is only 0.0001086 BTC that’s required, so you could fund 100K transactions with less than 11 BTC. Seems like a decent price to me for enhanced usability and I would be happy to donate to something like that.

IMHO, It's the job of the wallet. It's sufficient to have a single address with a bit of BTC in the wallet. This can be a nice feature to add to the Counterwallet.

I thought this was already implemented, pretty damn smoothly too from what i experienced.

When I went to sweet privkeys from burn, I could simply paste a privkey of a wallet containing enough BTC dust, without having to send that BTC first to the wallet that contained XCP

so,where's this wiki page

https://wiki.counterparty.co/w/Main_Page

Yes you are right about the sweep feature. I did the same and it was nice to be able to input a different address to pay for the dust. Good feature!

Yes it's right! it's already implemented for sweeping. We can generalize for all transactions.

[baddw]

Yeah and then the difficulty goes up and you end up with 30 minute blocks.

edit: The Bitcoin wiki says I'm wrong:

In addition, if no block has been found in 20 minutes, the difficulty automatically resets back to the minimum for a single block, after which it returns to its previous value.

But I distinctly remember 30 minute blocks when Counterwallet was first launched. Any ideas?

Definitely not true.  There was a 30+ minute block about 10 blocks ago:

http://blockr.io/block/info/299101
http://blockr.io/block/info/299102

Although it should be said that there can always be discrepancies in timestamps due to people not being sychronized, so this should be taken with a grain of salt.  However, I remember a couple of weeks ago when I sent a transaction, it took nearly 40 minutes for it to be verified because there was no block generated in that time (real-world, wall-clock time).

The 10 minute average block generation time is just that, an average.  There are 2-second blocks to balance out the 40-minute blocks.  If there were a 20-minute cutoff, it would shorten the average block time.

[Matt Y]

I think all XCP's should be re-burnt and replaced with a shared ownership of some of kind of fee structure within the system (then dividends can be paid to shareholders). XCP's are a pretty pointless design element of the system (unless someone can explain otherwise) and there doesn't seem to be any element in the system to provide financial incentives in any way.

The main price driver and use case for XCP is binary and complex betting as XCP is the only currency that can be escrewed. When betting functionality goes live in Counterwallet and feed sites pop up, the price of XCP will increase.

[Matt Y]

Any update on how things went at the job fair yesterday?

The job fair was great. Robby and I were able to meet with a number of qualified candidates for the marketing and development positions we're looking to fill. It also turned out to be a fantastic way to raise the general awareness of Counterparty. Almost everyone we spoke to had a reaction that ranged from enthusiastic to incredibly excited. We were congratulated and thanked many times for our efforts. It felt great to get such positive feedback from people who are outside our tighter knit community here on Bitcointalk and Counterparty.co.

We're heading off to speak at an Ethereum Meetup tonight, we have a potential speaking event at Stanford on Monday where Robby will probably give a short presentation after Max Levchin (Co-Founder of Paypal), and that will be followed up with Robby presenting at the Silicon Valley Bitcoin Meetup.

We've also had the fortune of meeting with a number of individuals and Counterparty entrepreneurs privately and again the reception and progress has been great.

Adam attended the MIT Bitcoin Meetup yesterday and had a similar reception.

[PhantomPhreak]

Version 9.18.0 is out, which fixes another bug that triggered a sanity check error on testnet.

[porqupine]

Although I realize no one is making bets (posting, just in case someone was perhaps thinking about it), there is some trouble with my VPS at the moment, so Broadcasts for these addresses will resume tomorrow:
1FwFY4tJWpu5LzFqbQEJ5gSRxzXyWA7Vt1 (Gold/USD London Fixing)
1E7qexXyupzYqx9R6rbUt2PciyTZ35MBDf (BTC/USD Bitstamp)

I'll add and automate a backup node in near future.

[nakaone]

I think all XCP's should be re-burnt and replaced with a shared ownership of some of kind of fee structure within the system (then dividends can be paid to shareholders). XCP's are a pretty pointless design element of the system (unless someone can explain otherwise) and there doesn't seem to be any element in the system to provide financial incentives in any way.

The main price driver and use case for XCP is binary and complex betting as XCP is the only currency that can be escrewed. When betting functionality goes live in Counterwallet and feed sites pop up, the price of XCP will increase.

I understand myself as a small venture capitalist in the cryptoworld. this project has by far the funniest market valueation. AFAIK at least 3 people (you, xnova and phantomfreak) are working full time on this project, jahpowerbit and cityglut at least half-time (I think jah also full-time), there is much progress been made and some real-world projects are growing. counterwallet has unique features and xcp is the only currency which can be used for escrow and betting (although complicated). This project never stucked due to money reasons - even some of the most known guys in the bitcoin-sphere (peter and sergio) were hired to check the code, the developers have shown a very high level of coding skills as well as high intellectual capabilities - and the price does one thing: it goes down all the time and even losing with regard to other cryptocurrencies.

I am in 6-8 Projects where prices at least make some sense, one also was massively undervalued and corrected over the last weeks. I do not even know why I write this down and not simply buy more - but either me is stupid or this complete market is stupid. Anyway PLEASE KEEP THIS HIGH QUALITY OF WORK and do not care for the price. Prices are not always an indicator of quality. Let me know if I can help you. 

[Matt Y]

Prime opportunity for CounterParty

Thank you, we are reaching out.

[Matt Y]

I think all XCP's should be re-burnt and replaced with a shared ownership of some of kind of fee structure within the system (then dividends can be paid to shareholders). XCP's are a pretty pointless design element of the system (unless someone can explain otherwise) and there doesn't seem to be any element in the system to provide financial incentives in any way.

The main price driver and use case for XCP is binary and complex betting as XCP is the only currency that can be escrewed. When betting functionality goes live in Counterwallet and feed sites pop up, the price of XCP will increase.

I understand myself as a small venture capitalist in the cryptoworld. this project has by far the funniest market valueation. AFAIK at least 3 people (you, xnova and phantomfreak) are working full time on this project, jahpowerbit and cityglut at least half-time (I think jah also full-time), there is much progress been made and some real-world projects are growing. counterwallet has unique features and xcp is the only currency which can be used for escrow and betting (although complicated). This project never stucked due to money reasons - even some of the most known guys in the bitcoin-sphere (peter and sergio) were hired to check the code, the developers have shown a very high level of coding skills as well as high intellectual capabilities - and the price does one thing: it goes down all the time and even losing with regard to other cryptocurrencies.

I am in 6-8 Projects where prices at least make some sense, one also was massively undervalued and corrected over the last weeks. I do not even know why I write this down and not simply buy more - but either me is stupid or this complete market is stupid. Anyway PLEASE KEEP THIS HIGH QUALITY OF WORK and do not care for the price. Prices are not always an indicator of quality. Let me know if I can help you. 

Thank you for the kind words. Will will have updates and an easier road to involvement for active community members such as yourself coming up shortly.

[Kalkuuuta]

What you think if donating for everyone MIT students or some else about same place XCP:s? Now every MIT students are getting $100 bitcoins what there is coming? What if we give to same peoples 10 xcp per everyone?

[mcjavar]

What you think if donating for everyone MIT students or some else about same place XCP:s? Now every MIT students are getting $100 bitcoins what there is coming? What if we give to same peoples 10 xcp per everyone?

Or we could give 69 XCP to each and every street whore. That would make it into the news!

[frozen123]

What you think if donating for everyone MIT students or some else about same place XCP:s? Now every MIT students are getting $100 bitcoins what there is coming? What if we give to same peoples 10 xcp per everyone?

Or we could give 69 XCP to each and every street whore. That would make it into the news!

Different coins/things have different plan and strategy....

[reader31]

Whats the best way to find out the daily trading volume of the various assets on the decentalized exchange?

to keep track of the overall activity on the dex and to track the trading activity of various assets?

[romerun]

What you think if donating for everyone MIT students or some else about same place XCP:s? Now every MIT students are getting $100 bitcoins what there is coming? What if we give to same peoples 10 xcp per everyone?

that's an excellent idea

[valarmg]

What you think if donating for everyone MIT students or some else about same place XCP:s? Now every MIT students are getting $100 bitcoins what there is coming? What if we give to same peoples 10 xcp per everyone?

Not sure that's necessary, but a good idea would be to have presentations to the students there, make sure they are aware of the potential that counterparty brings.

[Chang Hum]

I think all XCP's should be re-burnt and replaced with a shared ownership of some of kind of fee structure within the system (then dividends can be paid to shareholders). XCP's are a pretty pointless design element of the system (unless someone can explain otherwise) and there doesn't seem to be any element in the system to provide financial incentives in any way.

The main price driver and use case for XCP is binary and complex betting as XCP is the only currency that can be escrewed. When betting functionality goes live in Counterwallet and feed sites pop up, the price of XCP will increase.

Sounds interesting, looking forward to these functions. I thought all user created Assets could be escrowed?

[romerun]

I think all XCP's should be re-burnt and replaced with a shared ownership of some of kind of fee structure within the system (then dividends can be paid to shareholders). XCP's are a pretty pointless design element of the system (unless someone can explain otherwise) and there doesn't seem to be any element in the system to provide financial incentives in any way.

The main price driver and use case for XCP is binary and complex betting as XCP is the only currency that can be escrewed. When betting functionality goes live in Counterwallet and feed sites pop up, the price of XCP will increase.

Sounds interesting, looking forward to these functions. I thought all user created Assets could be escrowed?

Yes, but they require trusting other parties unlike XCP and BTC. Here're pros and cons if an asset is traded against:

* BTC - good liquidity, but the friction is it can't be escrowed, with counterwallet autopay, each trade might take hours to complete, and the BTC fee required makes things more confused

* XCP denominated currency such as XBTC and whatnot - the friction is removed, but participants have to trust another party

* XCP - no friction, trustless, but still low liquidity, only good for a small asset for now

In the long run, once XCP liquidity and marketcap improve, it's best to trade against XCP.

So, that gives the value of XCP for DEx.