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

[xnova]

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

When trading with BTC, indeed. But if you tray XCP trading, you'll be impressed

We're aware of the difficulties with BTC-based trades. As stated earlier, BTC-based trading will be greatly improved over the next 2-4 weeks, due to our enhanced BTC auto-escrow system we'll be adding into Counterwallet.

Can you give me any pointers to why my (now two) open orders aren't being filled even though the bids are still there in the orderbook? One of them will expire in two days and I will lose the transaction fee for nothing. Next time I will use XCP for sure but now I don't want to give up on these transaction and lose 2xfees + conversion fees into XCP

Your order is this?

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

Are you sure its not in buy orders? But anyway there read SELL in open orders but amount is really near this buy order..
0.000182   1472.52747253   0.268

No, that's a sell order that I placed to fill the buy order of the same amount in the orderbook. For a while it seemed like 3.73% of it would be filled but that got eventually cancelled too.

And a while ago I placed another order to fill the bid at 0.000191 but it's in the same situation

My Open Orders
Type   Price [BTC/SWARMPRE]   Amount [SWARMPRE]   Total BTC   Completion   Action
SELL   0.000191   356.01989528   0.0679998   0.00%   Cancel
SELL   0.000182   1472.52747253   0.268   0.00%   Cancel

It is broken.  I also have sell orders at those prices.  The part that sucks is I have never received compensation for fees due to their errors, which I accept, and they still insist on charging fees while the system is going through debugging which I don't.  At least give us an explanation of why this problem is so hard to debug and what is going on.

No explanation and the devs like xnova keep ignoring our messages. Instead, we get pompous announcements of new features.

thehun, apologies for your difficulties here. The problem here it seems is that you are making a trade and the people who the trade matches with are not logged in, so they cannot do the BTCpay, thus the order is never fully filled.

I have stated twice on this thread in the last few days that we're working on an automated BTC escrow feature that will address this issue. We designed it last night and I am actually working on that over the next few days. Until that happens, if possible (beyond what you have made already), don't frustrate yourself with orders on the Dex for BTC. The failure rate is too high right now, due to people not staying logged in with their counterwallet.

It should only take a couple of days to code this up, and then a few more days for testing. However, if it takes longer, we will probably just disable BTC-based trades in counterwallet temporarily to save people from the hassle you are going through.

Also, Adam is working on a protocol-level enhancement that will auto cancel someone's order who does not make their BTCpays. This should further help liquidity in BTC markets. More info on that is at: https://github.com/CounterpartyXCP/counterpartyd/issues/223 (he has a branch with the proposed changes at https://github.com/CounterpartyXCP/counterpartyd/tree/penalize and they're ready to go in after peer review and more testing).

ALSO, we are talking through an enhancement/alternative to the current BTC anti-trolling fee system for BTC-based orders that would use XCP as collateral instead. This would make it so that people wouldn't have to give away BTC in fees on these kinds of orders, if they held XCP. More info here: https://github.com/CounterpartyXCP/counterpartyd/issues/224

And FYI, due to user response, we recently just redid the trading interface (and people seem to like the new one much better). After the bug fixes we just released, coming up with a better solution for this BTC problem was next on our list, and we're doing that now. We have also added a "Quick Buy" interface that will work with vennding machines, which will be activated in Counterwallet in the next week or two. This is all part of the focus to ease these issues folks like you are getting with the order process where BTC is involved (if BTC is NOT involved, things work great, even now).

[PhantomPhreak]

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?

In other words: What costs how much? Is there a summary of this anywhere?

Most transactions are about US $0.06. If you're selling BTC on the DEx, you pay about 1% of the amount as anti-spam fees to Bitcoin miners (not us!).

[thehun]

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

When trading with BTC, indeed. But if you tray XCP trading, you'll be impressed

We're aware of the difficulties with BTC-based trades. As stated earlier, BTC-based trading will be greatly improved over the next 2-4 weeks, due to our enhanced BTC auto-escrow system we'll be adding into Counterwallet.

Can you give me any pointers to why my (now two) open orders aren't being filled even though the bids are still there in the orderbook? One of them will expire in two days and I will lose the transaction fee for nothing. Next time I will use XCP for sure but now I don't want to give up on these transaction and lose 2xfees + conversion fees into XCP

Your order is this?

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

Are you sure its not in buy orders? But anyway there read SELL in open orders but amount is really near this buy order..
0.000182   1472.52747253   0.268

No, that's a sell order that I placed to fill the buy order of the same amount in the orderbook. For a while it seemed like 3.73% of it would be filled but that got eventually cancelled too.

And a while ago I placed another order to fill the bid at 0.000191 but it's in the same situation

My Open Orders
Type   Price [BTC/SWARMPRE]   Amount [SWARMPRE]   Total BTC   Completion   Action
SELL   0.000191   356.01989528   0.0679998   0.00%   Cancel
SELL   0.000182   1472.52747253   0.268   0.00%   Cancel

It is broken.  I also have sell orders at those prices.  The part that sucks is I have never received compensation for fees due to their errors, which I accept, and they still insist on charging fees while the system is going through debugging which I don't.  At least give us an explanation of why this problem is so hard to debug and what is going on.

No explanation and the devs like xnova keep ignoring our messages. Instead, we get pompous announcements of new features.

thehun, apologies for your difficulties here. The problem here it seems is that you are making a trade and the people who the trade matches with are not logged in, so they cannot do the BTCpay, thus the order is never fully filled.

I have stated twice on this thread in the last few days that we're working on an automated BTC escrow feature that will address this issue. We designed it last night and I am actually working on that over the next few days. Until that happens, if possible (beyond what you have made already), don't frustrate yourself with orders on the Dex for BTC. The failure rate is too high right now, due to people not staying logged in with their counterwallet.

It should only take a couple of days to code this up, and then a few more days for testing. However, if it takes longer, we will probably just disable BTC-based trades in counterwallet temporarily to save people from the hassle you are going through.

Also, Adam is working on a protocol-level enhancement that will auto cancel someone's order who does not make their BTCpays. This should further help liquidity in BTC markets. More info on that is at: https://github.com/CounterpartyXCP/counterpartyd/issues/223 (he has a branch with the proposed changes at https://github.com/CounterpartyXCP/counterpartyd/tree/penalize and they're ready to go in after peer review and more testing).

ALSO, we are talking through an enhancement/alternative to the current BTC anti-trolling fee system for BTC-based orders that would use XCP as collateral instead. This would make it so that people wouldn't have to give away BTC in fees on these kinds of orders, if they held XCP. More info here: https://github.com/CounterpartyXCP/counterpartyd/issues/224

And FYI, due to user response, we recently just redid the trading interface (and people seem to like the new one much better). After the bug fixes we just released, coming up with a better solution for this BTC problem was next on our list, and we're doing that now. We have also added a "Quick Buy" interface that will work with vennding machines, which will be activated in Counterwallet in the next week or two. This is all part of the focus to ease these issues folks like you are getting with the order process where BTC is involved (if BTC is NOT involved, things work great, even now).

Thanks,

the reason I tried to sell my assets in BTC vs XCP is there was absolutely no liquidity in the SWARMPRE/XCP market. If the BTC market is still in such an alpha stage, it should be made clear to the users before they place any orders and have to go through this learning curve.

Anyway, I look forward to seeng the improvements you mention

[xnova]

Thanks,

the reason I tried to sell my assets in BTC vs XCP is there was absolutely no liquidity in the SWARMPRE/XCP market. If the BTC market is still in such an alpha stage, it should be made clear to the users before they place any orders and have to go through this learning curve.

Anyway, I look forward to seeng the improvements you mention

Absolutely, and sorry we didn't get you a comprehensive answer earlier. We're pretty confidence that this new auto BTC escrow system should make the use of the BTC markets much easier for everyone. It will be part of the full 1.5.0 release.

[PetePete]

Is something going on, Im not a troll before anyone asks, but I bought a small amount of XCP and no I have logged in and its not there? Anyone experiencing problems?

[PetePete]

The orignial address I sent the the coins to is not shown in my account, a different address is showing.

[PetePete]

Sorry guys it was a mnemonics problem, now sorted!

[cityglut]

Adam (PhantomPhreak) interviewed for Upstart Business Journal, regarding Counterparty and cryptosecurities: http://upstart.bizjournals.com/entrepreneurs/hot-shots/2014/08/01/the-man-who-would-undo-wall-street-by-offering.html.

[frozen123]

Adam (PhantomPhreak) interviewed for Upstart Business Journal, regarding Counterparty and cryptosecurities: http://upstart.bizjournals.com/entrepreneurs/hot-shots/2014/08/01/the-man-who-would-undo-wall-street-by-offering.html.

[profitofthegods]

Adam (PhantomPhreak) interviewed for Upstart Business Journal, regarding Counterparty and cryptosecurities: http://upstart.bizjournals.com/entrepreneurs/hot-shots/2014/08/01/the-man-who-would-undo-wall-street-by-offering.html.

“Overstock will be the first company ever to issue shares on a peer-to-peer market.” - so it will be fully legal shares in the conventional sense, otherwise they wouldn't be the first. Nice!

[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?

In other words: What costs how much? Is there a summary of this anywhere?

Most transactions are about US $0.06. If you're selling BTC on the DEx, you pay about 1% of the amount as anti-spam fees to Bitcoin miners (not us!).

Ok. Great. The 0,06 USD for most tx are paid in XCP  I guess?
And is it always the cost in XCP (0,06) + tx fees to bitcoin miners?
Does anything on the DEX cost? I mean if I am selling BTC then often for an asset...

[PhantomPhreak]

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?

In other words: What costs how much? Is there a summary of this anywhere?

Most transactions are about US $0.06. If you're selling BTC on the DEx, you pay about 1% of the amount as anti-spam fees to Bitcoin miners (not us!).

Ok. Great. The 0,06 USD for most tx are paid in XCP  I guess?
And is it always the cost in XCP (0,06) + tx fees to bitcoin miners?
Does anything on the DEX cost? I mean if I am selling BTC then often for an asset...

No, the six US cents are in Bitcoin tx fees. There aren't any XCP fees at all, except 0.5 XCP for every initial asset creation.

[baddw]

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?

In other words: What costs how much? Is there a summary of this anywhere?

Most transactions are about US $0.06. If you're selling BTC on the DEx, you pay about 1% of the amount as anti-spam fees to Bitcoin miners (not us!).

Ok. Great. The 0,06 USD for most tx are paid in XCP  I guess?
And is it always the cost in XCP (0,06) + tx fees to bitcoin miners?
Does anything on the DEX cost? I mean if I am selling BTC then often for an asset...

No, the six US cents are in Bitcoin tx fees. There aren't any XCP fees at all, except 0.5 XCP for every initial asset creation.

Can you explain how the transaction fee is different from the "anti-spam fee"?  Was this an agreement reached between Counterparty and Bitcoin mining pools/devs, or ...?

[PhantomPhreak]

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?

In other words: What costs how much? Is there a summary of this anywhere?

Most transactions are about US $0.06. If you're selling BTC on the DEx, you pay about 1% of the amount as anti-spam fees to Bitcoin miners (not us!).

Ok. Great. The 0,06 USD for most tx are paid in XCP  I guess?
And is it always the cost in XCP (0,06) + tx fees to bitcoin miners?
Does anything on the DEX cost? I mean if I am selling BTC then often for an asset...

No, the six US cents are in Bitcoin tx fees. There aren't any XCP fees at all, except 0.5 XCP for every initial asset creation.

Can you explain how the transaction fee is different from the "anti-spam fee"?  Was this an agreement reached between Counterparty and Bitcoin mining pools/devs, or ...?

The transaction fees are set by Bitcoin miners and are independent of Counterparty. The 0.5 XCP anti-spam measure we set up, and the miners have nothing to do with.

[BitcoinBudz]

Have to say I am liking the changes, keep up the good work fellas.

[Spratan]

Adam (PhantomPhreak) interviewed for Upstart Business Journal, regarding Counterparty and cryptosecurities: http://upstart.bizjournals.com/entrepreneurs/hot-shots/2014/08/01/the-man-who-would-undo-wall-street-by-offering.html.

Exceptionnal.

[PhantomPhreak]

Announcement: mandatory upgrade to counterpartyd v9.35.0 with block 313900 (two days from now). Minor tweaks to BTC order matching and BTCpay logic.

EDIT: make that v9.36.0

[delulo]

Does the following mean that the money needed for a bet would have to be put into escrow before the bet and that that money would be xcp and that the payout would also be in xcp?  

You can use only XCP for making bets

(https://www.counterparty.co/resources/faqs/aside-from-speculative-investment-why-will-there-be-demand-for-xcp/)

[NewLiberty]

Is someone from this group taking the lead on working with Overstock?
They are looking to start a DEX and needing the howto.
It looks like it could be a good project for some of the folks here.

I know this is a couple news cycles behind, but curious.
https://o.info/index.php/Talk:How_to_issue_a_cryptosecurity

[PhantomPhreak]

Announcement: mandatory upgrade to counterpartyd v9.35.0 with block 313900 (two days from now). Minor tweaks to BTC order matching and BTCpay logic.

EDIT: make that v9.36.0

I just made some more optimizations for BTC orders and order matches. Now we're at v9.37.0.