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

[mtbitcoin]

Hi guys, the build system has been modified to work with Ubuntu 12.04 properly again, as well as Windows.

Just update counterpartyd_build to the newest version via get. Updated instructions are at: http://counterpartyd-build.readthedocs.org/en/latest/BuildingFromSource.html
(for Linux, you'll just need to update from git and rerun).

Please report any technical issues with it to dev@counterparty.co, or our Skype chat channels.

Hi

The windows docs still has python version 3.2 as the minimum requirement but Flask requires at 3.3 and above.

Cheers

Link?

it looks correct now...

[Jpja]

Feedback (minor importance) on the Counterwallet DEX:

1. At "Select another pair" : In Firefox the ASSET NAME box is to the right of text "Token 1", not under it. In Chrome it starts at the right, but drops under after a token is chosen from "Top pairs".

2. At "Select another pair" : If an asset has been opened through "Top pairs" or "Select Another pair" you need to double click (or mark) the name before you can enter a new ticker. When you first open the DEX you only need to click on ASSET NAME once and then type the ticker.

3. At "Select another pair" : When typing a ticker the suggestions are sorted alphabetically. May they be sorted by popularity (e.g. trading volume) instead?

4. Bug? I have an open sell order for JPJA/XCP but it does not show in the order book.

5. "Obtainable" in order form : E.g. I can sell SWARMPRE and I see 3867.52295975 XCP obtainable. This seems to be the sum of buy orders. Won't it be better to define obtainable as the maximum XCP I can get if I sell all my SWARMPRE? Alternatively "obtainable" could be removed?

6. Digit grouping : Counterwallet (as well as most Bitcoin wallets and exchanges) does not do this. Personally I'd much prefer "0.039,893,92" or "0.039'893'92" to "0.03989392"

The GUI is very good now after the update. These are just some very minor issues (and personal preferences) that may not even be worth looking into.

Another, potentially more important, issue is how to tighten the spread between bid and ask. When someone places a limit order they help reduce the spread, also referred to as adding liquidity. And when someone places a market order, they remove liquidity. This is a real concern also in a regular centralized exchanges. Since there will always be the Bitcoin tx fee in Counterparty, also when placing an order, I fear there's a bias towards market orders. I might be wrong, but if does turn out to be a real problem, I have a suggestion on how to deal with it:

Since every trade has one active part (market order) and one passive part (limit order) and we want to encourage the latter, the active part can pay a fee to the passive part. The issuer of a token may be the one to choose the fee. The DEX would inform the user about the fee for the given token. Anything from 0% to 1% sounds reasonable.

Ref. ECN Credits : http://www.investopedia.com/articles/trading/09/ecn-credits.asp

[Benjig]

So first time using the CP exchange, tried to put a matching sell order, i saw there was a buy order at 0.00418 , so i put a sell order at that price and nothing happened... my order doesnt appeared in the sell orders and is still pending, why dint it got matched with the buy order?? .. whats the hidden trick on this exchange  ? should i have to cancel it and pay fees? 

[mishax1]

So first time using the CP exchange, tried to put a matching sell order, i saw there was a buy order at 0.00418 , so i put a sell order at that price and nothing happened... my order doesnt appeared in the sell orders and is still pending, why dint it got matched with the buy order?? .. whats the hidden trick on this exchange  ? should i have to cancel it and pay fees? 

This:

Pending sell order for over 20 confirmations..  Why is this happening ? No way to cancel it..

How long till it's expired ?

Which order? What happens when you try to cancel it?

Thats the point, there was no way to cancel it since there was a match with the one who's selling.

Only now it has expired and I can now cancel it.

I have tested a small amount order at a lower price  to see if I can skip the highest buy order but with no luck, the highest buy order is preventing everyone to sell since there's a match and then you can't cancel your order until it expires, but that takes more than 20 confirmations.. is that normal ?

Yes, that's normal. Users with orders to buy something with BTC have 20 blocks to make the 'BTC payment' to finalize all order matches. If he doesn't make that payment as he's supposed to, he pays a fee penalty (sort of).

[Benjig]

So first time using the CP exchange, tried to put a matching sell order, i saw there was a buy order at 0.00418 , so i put a sell order at that price and nothing happened... my order doesnt appeared in the sell orders and is still pending, why dint it got matched with the buy order?? .. whats the hidden trick on this exchange  ? should i have to cancel it and pay fees?  

This:

Pending sell order for over 20 confirmations..  Why is this happening ? No way to cancel it..

How long till it's expired ?

Which order? What happens when you try to cancel it?

Thats the point, there was no way to cancel it since there was a match with the one who's selling.

Only now it has expired and I can now cancel it.

I have tested a small amount order at a lower price  to see if I can skip the highest buy order but with no luck, the highest buy order is preventing everyone to sell since there's a match and then you can't cancel your order until it expires, but that takes more than 20 confirmations.. is that normal ?

Yes, that's normal. Users with orders to buy something with BTC have 20 blocks to make the 'BTC payment' to finalize all order matches. If he doesn't make that payment as he's supposed to, he pays a fee penalty (sort of).

So i have to wait 20 blocks to let the buyer pay the btcs? why the exchange allow people to put buy orders without bitcoin? i dont understand, very bad exchange it needs improvement, orders should be executed instantly or in this case waiting maximum 1 confirmation in the blockchain..

[CounterpartyRippler]

So i have to wait 20 blocks to let the buyer pay the btcs? why the exchange allow people to put buy orders without bitcoin? i dont understand, very bad exchange it needs improvement, orders should be executed instantly or in this case waiting maximum 1 confirmation in the blockchain..

The devs are working to make it better and if anyone can offer realistic examples of improvements that can be implemented, let them know here or on Github.
Traditional exchanges are one of faster options for centralized XCP/BTC trading: https://www.counterparty.co/xcp/ has a list.

[ejinte]

Is it possible to have a password on countrwallet? 12 words is a bit to much to remember unless I make a sentence but that dosen't feel safe

[JahPowerBit]

Is it possible to have a password on countrwallet? 12 words is a bit to much to remember unless I make a sentence but that dosen't feel safe

soon: https://github.com/CounterpartyXCP/counterwallet/issues/291

[grandpa_seth]

So i have to wait 20 blocks to let the buyer pay the btcs? why the exchange allow people to put buy orders without bitcoin? i dont understand, very bad exchange it needs improvement, orders should be executed instantly or in this case waiting maximum 1 confirmation in the blockchain..

The devs are working to make it better and if anyone can offer realistic examples of improvements that can be implemented, let them know here or on Github.
Traditional exchanges are one of faster options for centralized XCP/BTC trading: https://www.counterparty.co/xcp/ has a list.

Counterparty is not a centralized exchange like Bter. Bter takes your bitcoin and escrows it to match orders quickly and all that but you are giving them your coins and trusting that they will never run away with it. Counterparty can do what Bter can do plus be 100% trustless if you use the native currency XCP or any Asset created in counterparty. When you trade XCP for ABC asset counterparty itself escrows everything and therefore you never have to worry about ANYBODY stealing them. Counterparty lives on top of bitcoin so it actually has the ability to trustlessly trade with bitcoin too. The problem is the user paying the bitcoin must do so manually (or allow auto btcpay but must be logged in when order matches) after an order match because Counterparty is not bitcoin. But the advantage of Counterparty is that you even have this ability to trade with bitcoin. Because every Counterparty address is also a bitcoin address. You can not do that with an alt coin.

[jrmg]

Is it possible to have a password on countrwallet? 12 words is a bit to much to remember unless I make a sentence but that dosen't feel safe

soon: https://github.com/CounterpartyXCP/counterwallet/issues/291

Is that possible make so you can use both or only one, but both working? I mean if print 12 word to paper and hide some really safe place like under house and use password for log in. Then they who want more security use both.

[Benjig]

Why is crashing so hard the xcp value? on bter it went down like 30% in one day already.

[IamNotSure]

Why is crashing so hard the xcp value? on bter it went down like 30% in one day already.

No real volume though

[Viper1]

Anyone else getting this error when you try and look at asset trading. Been getting it for a couple hours now

"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"

Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.

[allwelder]

Domain name for sale

counterpartywallet.com

Sale price: negotiated

Plz contact me if interested.

[Eleonore]

i think xcp is really a good coin.. the DEV is awesome and the community is bigger and bigger.

[Jpja]

Idea to game in Counterwallet : Merkle Lotto

I don't know if this is technically possible to implement yet, but here's anyway a game I believe could be popular and fit Counterparty well.

To place a bet you pay 1 XCP and you need to specify two characters [0-9,a-f]. The XCP is put in escrow. If the next block's merkle root contains exactly one of each of your specified characters you win back all the escrowed XCPs (special case: more than one winner, they share the amount equally). The pool of escrowed XCPs contain those of everyone who participate in this game.

If no one wins at a particular block, the game continues to the next block, and so on until someone wins. The game is always open for new participants, and so the pool grows until someone wins, and the cycle starts over again.

The statistics: The merkle root is 64 characters long and exists of a set of 16 characters [0-9,a-f]. The probability of specified character appearing exactly once is : 64 * (1/16) * (15/16)^63 =~ 6.9%. The probability of both specified characters appearing exactly once is roughly 0.069^2 =~ 0.47%. If there are 10 players the probability of neither winning (i.e. game continues to next block) is (1-0.0047)^10 =~ 95.4%. If there are 20 players the prob drops to 91.0%.

The more players the larger the payout, and the more exciting it becomes.


 

[JahPowerBit]

Anyone else getting this error when you try and look at asset trading. Been getting it for a couple hours now

"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"

Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.

thanks for report. Just push a fix on github.

[JahPowerBit]

Idea to game in Counterwallet : Merkle Lotto

I don't know if this is technically possible to implement yet, but here's anyway a game I believe could be popular and fit Counterparty well.

To place a bet you pay 1 XCP and you need to specify two characters [0-9,a-f]. The XCP is put in escrow. If the next block's merkle root contains exactly one of each of your specified characters you win back all the escrowed XCPs (special case: more than one winner, they share the amount equally). The pool of escrowed XCPs contain those of everyone who participate in this game.

If no one wins at a particular block, the game continues to the next block, and so on until someone wins. The game is always open for new participants, and so the pool grows until someone wins, and the cycle starts over again.

The statistics: The merkle root is 64 characters long and exists of a set of 16 characters [0-9,a-f]. The probability of specified character appearing exactly once is : 64 * (1/16) * (15/16)^63 =~ 6.9%. The probability of both specified characters appearing exactly once is roughly 0.069^2 =~ 0.47%. If there are 10 players the probability of neither winning (i.e. game continues to next block) is (1-0.0047)^10 =~ 95.4%. If there are 20 players the prob drops to 91.0%.

The more players the larger the payout, and the more exciting it becomes.
 

I like it. The disadvantage is the time for the game to be resolved. Generally people like fast game. Maybe the 1 XCP wager should be lost if the player didn't win in the next block, so he must to put again 1 XCP to have a chance to get the jackpot. Like a slot machine..

[nutildah]

Anyone else getting this error when you try and look at asset trading. Been getting it for a couple hours now

"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"

Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.

thanks for report. Just push a fix on github.

Thanks for the update. I was also getting that error.

There's also a little bug where sometimes the balance from a previous pair carries over to a new one when pressing the "Top Pairs" tabs. I felt pretty rich for about 1 second, and then realized it was displaying my XCP balance.

[ejinte]

Is it possible to have a password on countrwallet? 12 words is a bit to much to remember unless I make a sentence but that dosen't feel safe

soon: https://github.com/CounterpartyXCP/counterwallet/issues/291

Wow great! To use both a password and 12 words at the same time seems like decreased security in my eyes=