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

[Anotheranonlol]

Counterparty is a platform for finance and betting. Every action is a Bitcoin transaction with embedded metadata which the Counterparty protocol interprets. All history is saved in the Bitcoin blockchain, and this enables an ecosystem of coins, assets, bets, and games.

Thanks! This was my impression after first reading, but it's good to see it confirmed.

Does Counterparty solve the trust problem for betting and gaming (the fear that the operator may take the money and go)?

It does solve exactly that problem.

It has been already done on counterparty - look at chancecoin, decentralized casino

Thanks, I will take a look. What I understand from a quick browsing of the Chancecoin thread, it is NOT based on Counterparty, but similar features could be implemented.

The following are based directly on CounterParty:

https://bitcointalk.org/index.php?topic=767510.0  //  BetXCP
https://bitcointalk.org/index.php?topic=645322.0  //  Xbet


You can also play rock/paper/scissors directly from counterwallet.

[Fernandez]

Why is there a need for faster transactions? Block chain size and security should outweigh speed in my opinion. XCP has an advantage being built on Bitcoin.

Bitcoin security is overplayed. Its so centralized now that its actually in quite a dangerous situation. The new PoS schemes seem to be working fine but we have to wait and see if they get attacked and survive.

[Fernandez]

...it also suffers from this same speed issue, only to a lesser degree.

What would be acceptable in terms of speed? Decentralized systems can't be as fast as centralized and cannot deliver data in under 1 second. So what would be a good balance between comfortable use and still keeping things decentralized (=protected from tampering with)?

sub minute would be good, but even a minute or two is fine. Waiting for over 10 minutes which sometimes goes upto 30-40 minutes is insane.

The other day I tried depositing on Bter and it said it needed 3 confirms. I just went out for dinner.

[Matt Y]

Counterparty is a platform for finance and betting. Every action is a Bitcoin transaction with embedded metadata which the Counterparty protocol interprets. All history is saved in the Bitcoin blockchain, and this enables an ecosystem of coins, assets, bets, and games.

Thanks! This was my impression after first reading, but it's good to see it confirmed.

Does Counterparty solve the trust problem for betting and gaming (the fear that the operator may take the money and go)?

Is it suitable in-principle for realtime gaming e.g. online poker?

Here is how betting with Counterparty works. The feed operator never has access to funds.

http://betxcp.com/howitworks

[Giulio Prisco]

Here is how betting with Counterparty works. The feed operator never has access to funds.
http://betxcp.com/howitworks

Thanks Matt Y. Is Counterparty suitable in-principle for realtime gaming e.g. online poker?

I joined the Counterparty forums and asked this question there as well.

[Matt Y]

Here is how betting with Counterparty works. The feed operator never has access to funds.
http://betxcp.com/howitworks

Thanks Matt Y. Is Counterparty suitable in-principle for realtime gaming e.g. online poker?

I joined the Counterparty forums and asked this question there as well.

No, it's not. I'm not sure what it would take to get it there, but my guess is quite a bit.

[supersuber]

Code:

C:\counterpartyd_build>counterpartyd server

C:\counterpartyd_build>echo off
Traceback (most recent call last):
  File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 21, in
 <module>
    from lib import config, api, util, exceptions, bitcoin, blocks, blockchain
  File "C:\counterpartyd_build\dist\counterpartyd\lib\api.py", line 17, in <modu
le>
    import flask
  File "C:\counterpartyd_build\env\lib\site-packages\flask\__init__.py", line 17
, in <module>
    from werkzeug.exceptions import abort
  File "C:\counterpartyd_build\env\lib\site-packages\werkzeug\__init__.py", line
 154, in <module>
    __import__('werkzeug.exceptions')
  File "C:\counterpartyd_build\env\lib\site-packages\werkzeug\exceptions.py", li
ne 111
    return u'<p>%s</p>' % escape(self.description)
                      ^
SyntaxError: invalid syntax

C:\counterpartyd_build>

anyone can help me? Thx

[romerun]

anyone working on statement betting on XCP ? allowing users to create statements, and broadcast yes/no with reputation attached with creators, etc.

[Anotheranonlol]

anyone working on statement betting on XCP ? allowing users to create statements, and broadcast yes/no with reputation attached with creators, etc.

Like this? http://xbet.io/categories/oracles

[Fernandez]

Here is how betting with Counterparty works. The feed operator never has access to funds.
http://betxcp.com/howitworks

Thanks Matt Y. Is Counterparty suitable in-principle for realtime gaming e.g. online poker?

I joined the Counterparty forums and asked this question there as well.

No, it's not. I'm not sure what it would take to get it there, but my guess is quite a bit.

Its too slow for something like that to be possible.

Betting is all the game you can play on Counterparty.

[xnova]

Note to Translators

We'll be posting the initial 1.5.0 release later today or tomorrow. This will include internationalization support. However, at the current time we have no fully completed transations beyond English. Once a translation is completed and reviewed, we will update counterwallet to include it, so if you'd like Counterwallet to support your language, please help to translate and review the translations over at transifex.com. Thanks!

[IamNotSure]

Note to Translators

We'll be posting the initial 1.5.0 release later today or tomorrow. This will include internationalization support. However, at the current time we have no fully completed transations beyond English. Once a translation is completed and reviewed, we will update counterwallet to include it, so if you'd like Counterwallet to support your language, please help to translate and review the translations over at transifex.com. Thanks!

Will do in french !

[nutildah]

Note to Translators

We'll be posting the initial 1.5.0 release later today or tomorrow. This will include internationalization support. However, at the current time we have no fully completed transations beyond English. Once a translation is completed and reviewed, we will update counterwallet to include it, so if you'd like Counterwallet to support your language, please help to translate and review the translations over at transifex.com. Thanks!

Aww yeah... Looking forward to it.

[romerun]

anyone working on statement betting on XCP ? allowing users to create statements, and broadcast yes/no with reputation attached with creators, etc.

Like this? http://xbet.io/categories/oracles

wow, this will eventually replace bitbet

[Giulio Prisco]

Its too slow for something like that [online poker] to be possible. Betting is all the game you can play on Counterparty.

OK thanks, you guys persuaded me that (at thie moment) Counterparty is not suitable for online poker, and I guess the same arguments apply to all realtime casino games. Then the question is whether new developments could make it so.

[mishax1]

Did someone create MAIDSAFE and MAIDSAFECOIN assets and "stole" thousands of XCP from ignorant users thinking this is the MAIDSAFECOIN from Mastercoin ?

[deliciousowl]

Its too slow for something like that [online poker] to be possible. Betting is all the game you can play on Counterparty.

OK thanks, you guys persuaded me that (at this moment) Counterparty is not suitable for online poker, and I guess the same arguments apply to all real-time casino games. Then the question is whether new developments could make it so.

You could theoretically escrow the money on the blockchain between the users of the game, until it's resolved by the casino (broadcast feed operator). This way, at least the casino does not store your funds on a fallible server.

(Although you still have to trust the casino to some degree in the end.)

[nutildah]

Did someone create MAIDSAFE and MAIDSAFECOIN assets and "stole" thousands of XCP from ignorant users thinking this is the MAIDSAFECOIN from Mastercoin ?

I saw that too.. Using the actual maidsafe website address in your token description is a pretty low move:

http://www.blockscan.com/assetInfo.aspx?q=MAIDSAFE

And according to the Counterwallet chart it has some pretty decent daily volume.

[bahatassafus]

MasterCoin will not allow the trading of assets against BTC on their DEX - assets could only be traedd against MSC. On his blog David Johnston (Chairman of the MSC Foundation Board) presents this limitation as an advantage, and later in the comments he claims Counterparty has the same issue - requiring XBTC for trading on the DEX...

http://en.reddit.com/r/mastercoin/comments/2g4mmp/utility_is_the_mother_of_liquidity/

[cityglut]

MasterCoin will not allow the trading of assets against BTC on their DEX - assets could only be traedd against MSC. On his blog David Johnston (Chairman of the MSC Foundation Board) presents this limitation as an advantage, and later in the comments he claims Counterparty has the same issue - requiring XBTC for trading on the DEX...

http://en.reddit.com/r/mastercoin/comments/2g4mmp/utility_is_the_mother_of_liquidity/

That's not correct. BTC can be traded with any Counterparty asset, and any Counterparty asset can be traded for any other Counterparty asset.

XBTC is a BTC proxy token created by a community member that merely expedites the process of DEx trading.