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

[IamNotSure]

Biggest daily volume on BTER already, time to grab some XCP while they're cheap...

[justbc]

I have XCP and I'm trying to buy BTC.

Due to the lag in settlement is the market book actually not an indication of what the current offers are?

That's not it. Rather, all transactions involving BTC take a long time to settle, and are somewhat unreliable still (because the person selling BTC has to stay logged in to Counterwallet for the trade to go through).

Wow seriously? Is it even safe to attempt to use this? I had some orders partially matched and haven't received the BTC. Are people getting paid my XCP with no guarantee that I receive the BTC?

The problem is compounded by the fact that I can't cancel orders - my XCP don't get refunded.

[PhantomPhreak]

I have XCP and I'm trying to buy BTC.

Due to the lag in settlement is the market book actually not an indication of what the current offers are?

That's not it. Rather, all transactions involving BTC take a long time to settle, and are somewhat unreliable still (because the person selling BTC has to stay logged in to Counterwallet for the trade to go through).

Wow seriously? Is it even safe to attempt to use this? I had some orders partially matched and haven't received the BTC. Are people getting paid my XCP with no guarantee that I receive the BTC?

The problem is compounded by the fact that I can't cancel orders - my XCP don't get refunded.

It's perfectly safe! If the other side of the deal doesn't pay you the Bitcoin, then they don't get your XCP; your XCP will be returned to you automatically when the order match expires (in twenty blocks).

[romerun]

http://www.wired.com/2014/07/overstock-and-cryptocurrency/

"Overstock has already held extensive discussions with a company called CounterParty, which offers software that could help drive such a cryptosecurity..."

+1
This in deed is great news!

Well, if Counterparty was not invented, the overstock CEO would have a hard time picking between the underconstructed MSC and those 2.0 platform on  obscure chains, bitsharex / nxt / ethereum. Counterparty have done Bitcoin a solid to lead on the 2.0 space.

[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.

thanks for report. Just push a fix on github.

Does it still need to go live? Still getting the error.

Bump for this. Just tested again and still getting the same error. Seems to only be for the market where I have a sell order outstanding.

[PhantomPhreak]

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.

Does it still need to go live? Still getting the error.

Bump for this. Just tested again and still getting the same error. Seems to only be for the market where I have a sell order outstanding.

I've created a GitHub issue for it: https://github.com/CounterpartyXCP/counterwallet/issues/314

Thanks for the bug report!

[xnova]

I have XCP and I'm trying to buy BTC.

Due to the lag in settlement is the market book actually not an indication of what the current offers are?

That's not it. Rather, all transactions involving BTC take a long time to settle, and are somewhat unreliable still (because the person selling BTC has to stay logged in to Counterwallet for the trade to go through).

Wow seriously? Is it even safe to attempt to use this? I had some orders partially matched and haven't received the BTC. Are people getting paid my XCP with no guarantee that I receive the BTC?

The problem is compounded by the fact that I can't cancel orders - my XCP don't get refunded.

We have a feature in the design phase that will make it unnecessary for folks to stay logged in for BTCPays, and should massively improve the ease of use of markets where BTC is involved.

[xnova]

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.

Does it still need to go live? Still getting the error.

Bump for this. Just tested again and still getting the same error. Seems to only be for the market where I have a sell order outstanding.

I've created a GitHub issue for it: https://github.com/CounterpartyXCP/counterwallet/issues/314

Thanks for the bug report!

Yes, this has been fixed, but the fix hasn't been pushed to production yet. Will most likely this evening or tomorrow.

[dexX7]

FWIW: https://docs.google.com/spreadsheets/d/1ZenAAlcp4PPQMcG0NBWaqRuNc66vr8x8nNZZt3MA9Yo/edit?usp=sharing + imgur

For those why may remember this post - the number of 35M was actually not the number of multisig outputs, but rather the total number of all transactions.

TL;TR: proofofexistence.com appears to create more OP_RETURN outputs than OpenAssets/CoinPrism, almost all multisig outputs in the last months were created by applications on top of the blockchain and only 18 % of those multisig outputs are spent. Chancecoin is the clear winner in this discipline with a ratio of 58 % of redeemed multisig outputs. Mastercoin pretty much flatlines for some time now, Counterparty goes exponentially through the roof. Since March the number of application related transactions has increased significantly, but the overall footprint is hilarious. Over 99 % of all outputs are pay-to-pubkey-hash outputs and I could map only less than 0.2 % of all transactions to applications. The overall number of unspent outputs has risen from 9.819.223 to a total of 115.229.897 within the last three-four months. -- All data based on blocks with a height between 0-312999.

More data and all raw data is available in the above linked Google Docs document, but that were mostly the interesting parts.

[delulo]

Overstock could be the first out-of-crypto company issuing an asset on Counterparty which is great but I still don't fully understand what exactly Overstock is planning to do:
Have their stock traded on Counterparty instead of at the NYSE? Or in parallel? Will a separate type of Overstock stock be issued?

[profitofthegods]

Overstock could be the first out-of-crypto company issuing an asset on Counterparty which is great but I still don't fully understand what exactly Overstock is planning to do:
Have their stock traded on Counterparty instead of at the NYSE? Or in parallel? Will a separate type of Overstock stock be issued?

It sounds like they want a purely crypto-asset listing to me.

I heard another start up company looking at doing a kind parallel listing though, where they were planning to issue legal stocks but keep hold of them themselves and promise to pay on the benefits. Sco I think that is a possible route.

[CounterpartyRippler]

Wow seriously? Is it even safe to attempt to use this? I had some orders partially matched and haven't received the BTC. Are people getting paid my XCP with no guarantee that I receive the BTC?

The problem is compounded by the fact that I can't cancel orders - my XCP don't get refunded.

Nothing is compounded and it's not a "fact". Your XCP haven't been paid to anyone, so of course they can't be refunded.
Pending a payment, tokens are held in escrow and only if payment from both sides can be executed the protocoll executes a transaction.
Otherwise as PhantonPhreak said if the other side doesn't send the money your order expires.

If you looked at your order status (inside of CW) or at Blockscan.com you could have seen this yourself.

[delulo]

Overstock could be the first out-of-crypto company issuing an asset on Counterparty which is great but I still don't fully understand what exactly Overstock is planning to do:
Have their stock traded on Counterparty instead of at the NYSE? Or in parallel? Will a separate type of Overstock stock be issued?

It sounds like they want a purely crypto-asset listing to me.

You mean a separate type of stock? They would have to associate some promises / conditions to that asset. Which would be?

[thehun]

Can someone help me out? I am getting really frustrated with CP and it seems it's impossible to get any support via email or in the chatroom

I placed a market sell order for SWARMPRE and 3 days later it still shows open... even though now there are BUY orders for a higher price. Also, I can't cancel the transaction either as it seems I need to send more BTC to my account again

I really don't get this

My Open Orders
Type   Price [BTC/SWARMPRE]   Amount [SWARMPRE]   Total BTC   Completion Action SELL   0.000182   1472.52747253 0.268   0.00%   Cancel

And now there are buy orders for 0.000191

Am I missing anything?

Cheers

Edit: after sending 0.01 BTC to my CP address from a different wallet it shows this:

My Trades History
Type   Block Time   Price BTC   Amount [SWARMPRE]   Total BTC   Status
SELL   2014/07/31 04:27:45 PM +02:00   0.000182   54.94615384   0.0100002   pending

My Open Orders
Type   Price [BTC/SWARMPRE]   Amount [SWARMPRE]   Total BTC   Completion   Action
SELL   0.000182   1417.58131869   0.2579998   3.73%   Cancel

So now instead of getting the 0.01 BTC from my wallet, exactly 0.01 BTC worth of SWARMPRE have been sold and that is the balance of my CP BTC wallet (the transaction I sent however seems to have evaporated into thin air)

[Finley]

the big news=oversock....
good job XCP!!

[profitofthegods]

Overstock could be the first out-of-crypto company issuing an asset on Counterparty which is great but I still don't fully understand what exactly Overstock is planning to do:
Have their stock traded on Counterparty instead of at the NYSE? Or in parallel? Will a separate type of Overstock stock be issued?

It sounds like they want a purely crypto-asset listing to me.

You mean a separate type of stock? They would have to associate some promises / conditions to that asset. Which would be?

Usually it means that its not a legal share, so doesn't confer legal ownership of part of the company - its just a promise by them to pay out a certain percentage of profits. I really don't have any idea what Overstock will do though, I was just speculating.

[delulo]

Overstock could be the first out-of-crypto company issuing an asset on Counterparty which is great but I still don't fully understand what exactly Overstock is planning to do:
Have their stock traded on Counterparty instead of at the NYSE? Or in parallel? Will a separate type of Overstock stock be issued?

It sounds like they want a purely crypto-asset listing to me.

You mean a separate type of stock? They would have to associate some promises / conditions to that asset. Which would be?

Usually it means that its not a legal share, so doesn't confer legal ownership of part of the company - its just a promise by them to pay out a certain percentage of profits. I really don't have any idea what Overstock will do though, I was just speculating.

That would mean they could raise more capital this way but at the same time this would dilute their current shares because the profits go 100% to the current shareholders at the moment (if not reinvested...)... Let's see...

[mindtomatter]

Can someone help me out? I am getting really frustrated with CP and it seems it's impossible to get any support via email or in the chatroom

I placed a market sell order for SWARMPRE and 3 days later it still shows open... even though now there are BUY orders for a higher price. Also, I can't cancel the transaction either as it seems I need to send more BTC to my account again

I really don't get this

My Open Orders
Type   Price [BTC/SWARMPRE]   Amount [SWARMPRE]   Total BTC   Completion Action SELL   0.000182   1472.52747253 0.268   0.00%   Cancel

And now there are buy orders for 0.000191

Am I missing anything?

Cheers

Edit: after sending 0.01 BTC to my CP address from a different wallet it shows this:

My Trades History
Type   Block Time   Price BTC   Amount [SWARMPRE]   Total BTC   Status
SELL   2014/07/31 04:27:45 PM +02:00   0.000182   54.94615384   0.0100002   pending

My Open Orders
Type   Price [BTC/SWARMPRE]   Amount [SWARMPRE]   Total BTC   Completion   Action
SELL   0.000182   1417.58131869   0.2579998   3.73%   Cancel

So now instead of getting the 0.01 BTC from my wallet, exactly 0.01 BTC worth of SWARMPRE have been sold and that is the balance of my CP BTC wallet (the transaction I sent however seems to have evaporated into thin air)

Whenever you do ANYTHING on CP, you pay a transaction fee that is non-refundable, you can think about the fee like the stamp that lets your XCP order ride in its bitcoin envelope on the bitcoin blockchain.  So the inability to cancel your order is because you lack the money for the stamp with which to submit your order to the blockchain. 

This means it is fairlye xpensive to do anything because the dust limit and miner fee puts the minimum size at fairly high.  This is why other chains are being developed, for lower cost easier trading.

[delulo]

Can someone help me out? I am getting really frustrated with CP and it seems it's impossible to get any support via email or in the chatroom

[.....]

So now instead of getting the 0.01 BTC from my wallet, exactly 0.01 BTC worth of SWARMPRE have been sold and that is the balance of my CP BTC wallet (the transaction I sent however seems to have evaporated into thin air)

Whenever you do ANYTHING on CP, you pay a transaction fee that is non-refundable, you can think about the fee like the stamp that lets your XCP order ride in its bitcoin envelope on the bitcoin blockchain.  So the inability to cancel your order is because you lack the money for the stamp with which to submit your order to the blockchain. 

This means it is fairlye xpensive to do anything because the dust limit and miner fee puts the minimum size at fairly high.  This is why other chains are being developed, for lower cost easier trading.

Is there a a fee table or something?

And are there transactions/processes that cost nothing?

[thehun]

Can someone help me out? I am getting really frustrated with CP and it seems it's impossible to get any support via email or in the chatroom

I placed a market sell order for SWARMPRE and 3 days later it still shows open... even though now there are BUY orders for a higher price. Also, I can't cancel the transaction either as it seems I need to send more BTC to my account again

I really don't get this

My Open Orders
Type   Price [BTC/SWARMPRE]   Amount [SWARMPRE]   Total BTC   Completion Action SELL   0.000182   1472.52747253 0.268   0.00%   Cancel

And now there are buy orders for 0.000191

Am I missing anything?

Cheers

Edit: after sending 0.01 BTC to my CP address from a different wallet it shows this:

My Trades History
Type   Block Time   Price BTC   Amount [SWARMPRE]   Total BTC   Status
SELL   2014/07/31 04:27:45 PM +02:00   0.000182   54.94615384   0.0100002   pending

My Open Orders
Type   Price [BTC/SWARMPRE]   Amount [SWARMPRE]   Total BTC   Completion   Action
SELL   0.000182   1417.58131869   0.2579998   3.73%   Cancel

So now instead of getting the 0.01 BTC from my wallet, exactly 0.01 BTC worth of SWARMPRE have been sold and that is the balance of my CP BTC wallet (the transaction I sent however seems to have evaporated into thin air)

Whenever you do ANYTHING on CP, you pay a transaction fee that is non-refundable, you can think about the fee like the stamp that lets your XCP order ride in its bitcoin envelope on the bitcoin blockchain.  So the inability to cancel your order is because you lack the money for the stamp with which to submit your order to the blockchain. 

This means it is fairlye xpensive to do anything because the dust limit and miner fee puts the minimum size at fairly high.  This is why other chains are being developed, for lower cost easier trading.

Oh I see... it would still be ok though if my order actually got filled. Right now the BUY order for 1472.52747253 SWARMPRE is still there and mine will expire in 3 days without ever getting matched with it.

Honestly, I'm quite disappointed with CP, right now this is no competition to a centralized exchange.