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

[Spratan]

Nothing to rejoice in BTC price fall. If there is loss in confidence in it as the protocol on top of it will hurt XCP too. Building on BTC has made XCP slow and cumbersome, the only advantage being able to use BTC directly.

It is the only hurdle that prevent XCP marketcap to instantaneously rise x 10 at Nxt or Bitshares level. People think that XCP can grow only when BTC is used by almost everybody in earth for buying food and clothes.

I think BTC and its blockchain is far better for finance, official transactions and proof of belongings than for everyday transactions.

1/ Altcoins are already anonymous, instant, etc. They are theorically perfect for everyday transactions.
But I will never issue stocks on other altcoins, whereas BTC is the only to have a legal existence in most countries. I heard that there even were a mariage on BTC blockchain lastly. The level of confidence needed in payment instrument in finance is enormous.

2/ Slowlyness is relative. If buying a house or a yacht, I prefer the most secure system to transact, able to transact millions safely, but not ultra instant. Where I live, this kind of transactions needs 2 months for administrative times to complete anyway. So what is the point with 10 minutes wait ? Will you really accept to be paid in more volatile and unsecure altcoin ? Which coin is likely to become the only legal one ?

3/ Other reason is governments won't recognize and legalize every coin for some kind of official transactions or proof of belongings.
I think they will stick now to BTC now. it was a 5 years fight. They have no reason to accept that ultra-legalized finance world use what they want to issue stocks, for example. They can say they need to control finance, so only one decentralized instrument should exist for some operations.
Reversely, they won't replace BTC by another new altcoin now. What will be the reason to accept a unsecure or more volatile coin now, and at least before years ?

XCP value = BTC value as a money + BTC blockchain value and exploitation.
Even if the first part of equation is slightly going down while being more and more accepted, the 2nd is about to soar.

[deliciousowl]

I feel like complaining about BTC being too slow completely and entirely misses the point and magnitude of its innovative properties. It's like being suddenly confronted with a flat screen HD TV when the pinnacle of technology you've encountered was a radio, and the only thing you have to say is "ah but you can't smell the contents".  

Bank to bank transfers across countries take days if not weeks.
Bank to bank transfers in the same bank take like 10 minutes.
Credit card transactions take months to confirm.

It's really ridiculous, and the only people that HFT benefits are those with tons of money to begin with.

Besides, absolutely nobody is stopping people from creating a very low latency Counterparty asset exchange(s) (off-chain).

[shadowmoon]

I wonder if anyone ever had a problem like this my.
I go in and try to create https://counterwallet.co/ my wallet the following error occurs the window hangs and does not load I use Google chrome.
When trying to open it in mozilla the same mistake of the wallet window lock occurs.
And in internet explorer it does not even open so bears.
Someone would have an idea of what the problem
The error occurs in both counterwallet as the clearing house.

I can enter and log into https://www.blockscan.com without problem only in wallet that I'm not getting.

https://cw03.counterwallet.co

Hello good day imagine this wallet must have some kind of personal problem with me. I'm still having the same problem accessing the wallet, it hangs and does not how to use it and the same thing happens when using another browser.
Ideas of what could be the problem?

[deliciousowl]

Hello good day imagine this wallet must have some kind of personal problem with me. I'm still having the same problem accessing the wallet, it hangs and does not how to use it and the same thing happens when using another browser.
Ideas of what could be the problem?

Try going to Counterwallet, and pressing CTRL+F5 to refresh the page and clear your cache. Then try to login again. It's possible this may work.

[shadowmoon]

Hello good day imagine this wallet must have some kind of personal problem with me. I'm still having the same problem accessing the wallet, it hangs and does not how to use it and the same thing happens when using another browser.
Ideas of what could be the problem?

Try going to Counterwallet, and pressing CTRL+F5 to refresh the page and clear your cache. Then try to login again. It's possible this may work.

Thanks for the response.
Unfortunately I can not get run over in the wallet it does not load and is locked you can not click anything. I will continue trying to find a solution.

[jonny1000]

I feel like complaining about BTC being too slow completely and entirely misses the point and magnitude of its innovative properties. It's like being suddenly confronted with a flat screen HD TV when the pinnacle of technology you've encountered was a radio, and the only thing you have to say is "ah but you can't smell the contents".  

Bank to bank transfers across countries take days if not weeks.
Bank to bank transfers in the same bank take like 10 minutes.
Credit card transactions take months to confirm.

It's really ridiculous, and the only people that HFT benefits are those with tons of money to begin with.

Besides, absolutely nobody is stopping people from creating a very low latency Counterparty asset exchange(s) (off-chain).

+1
I could not agree more, 10 minutes if fine for almost all normal uses, people need to learn a bit of patience.

[Equality 7-2521]

How many of the originally burned coins have not been moved? Wouldn't it be good to have this figure available on Blockscan.com?

[supersuber]

How many of the originally burned coins have not been moved? Wouldn't it be good to have this figure available on Blockscan.com?

1243577(46.93% XCP) of the originally burned coins have not been moved.
statistics time:2014-09-23

[prophetx]

I feel like complaining about BTC being too slow completely and entirely misses the point and magnitude of its innovative properties. It's like being suddenly confronted with a flat screen HD TV when the pinnacle of technology you've encountered was a radio, and the only thing you have to say is "ah but you can't smell the contents".  

Bank to bank transfers across countries take days if not weeks.
Bank to bank transfers in the same bank take like 10 minutes.
Credit card transactions take months to confirm.

It's really ridiculous, and the only people that HFT benefits are those with tons of money to begin with.

Besides, absolutely nobody is stopping people from creating a very low latency Counterparty asset exchange(s) (off-chain).

+1
I could not agree more, 10 minutes if fine for almost all normal uses, people need to learn a bit of patience.

i call bullshit.

i have been using counterwallet, dogeparty and clearinghouse lately to gather info for a report i am writing, and i have to say XCH is the best out of the 3

not only is it fast, but the dev's are responsive and have fixed some of the issues with the wallet.

it is a BREEZE to use. i know there is a slight advantage to be using BTC for dividend payments, but not having to sit there and waste 10 minutes of your life that has real value to people.

[deliciousowl]

i call bullshit.

i have been using counterwallet, dogeparty and clearinghouse lately to gather info for a report i am writing, and i have to say XCH is the best out of the 3

not only is it fast, but the dev's are responsive and have fixed some of the issues with the wallet.

it is a BREEZE to use. i know there is a slight advantage to be using BTC for dividend payments, but not having to sit there and waste 10 minutes of your life that has real value to people.

Well, Counterwallet != Counterparty. The status of any given wallet in no way shape or form represents the actual protocol or its functionality.

Also, shorter block times have some very negative aspects:
- Requires increased bandwidth (internode communication).
- More forks & re-org time = More wasted hash-power, causing lower effective security.
- Shorter blocks mean more confirmations are required.

Not to mention that the Viacoin team apparently accepted funding and sold XCH. (No proof-of-burn). I sadly do not see any benefit.

[Matt Y]

I feel like complaining about BTC being too slow completely and entirely misses the point and magnitude of its innovative properties. It's like being suddenly confronted with a flat screen HD TV when the pinnacle of technology you've encountered was a radio, and the only thing you have to say is "ah but you can't smell the contents".  

Bank to bank transfers across countries take days if not weeks.
Bank to bank transfers in the same bank take like 10 minutes.
Credit card transactions take months to confirm.

It's really ridiculous, and the only people that HFT benefits are those with tons of money to begin with.

Besides, absolutely nobody is stopping people from creating a very low latency Counterparty asset exchange(s) (off-chain).

+1
I could not agree more, 10 minutes if fine for almost all normal uses, people need to learn a bit of patience.

i call bullshit.

i have been using counterwallet, dogeparty and clearinghouse lately to gather info for a report i am writing, and i have to say XCH is the best out of the 3

not only is it fast, but the dev's are responsive and have fixed some of the issues with the wallet.

it is a BREEZE to use. i know there is a slight advantage to be using BTC for dividend payments, but not having to sit there and waste 10 minutes of your life that has real value to people.

I re-call bullshit?

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

When you make a dividend payment with Counterparty, you are not required to wait 10 minutes for it to go through, you can just walk away and reclaim that 10 minutes of your life and the transaction will go through without you. The same time is spent either way.

The usability of both wallets is practically identical as well. So again, the only advantage XHC has, is speed.

[profitofthegods]

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

Agree with this. I'm wondering whether the devs have any plans to create a foundation and accept memberships/donations to help even more with development?

[prophetx]

I feel like complaining about BTC being too slow completely and entirely misses the point and magnitude of its innovative properties. It's like being suddenly confronted with a flat screen HD TV when the pinnacle of technology you've encountered was a radio, and the only thing you have to say is "ah but you can't smell the contents".  

Bank to bank transfers across countries take days if not weeks.
Bank to bank transfers in the same bank take like 10 minutes.
Credit card transactions take months to confirm.

It's really ridiculous, and the only people that HFT benefits are those with tons of money to begin with.

Besides, absolutely nobody is stopping people from creating a very low latency Counterparty asset exchange(s) (off-chain).

+1
I could not agree more, 10 minutes if fine for almost all normal uses, people need to learn a bit of patience.

i call bullshit.

i have been using counterwallet, dogeparty and clearinghouse lately to gather info for a report i am writing, and i have to say XCH is the best out of the 3

not only is it fast, but the dev's are responsive and have fixed some of the issues with the wallet.

it is a BREEZE to use. i know there is a slight advantage to be using BTC for dividend payments, but not having to sit there and waste 10 minutes of your life that has real value to people.

I re-call bullshit?

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

When you make a dividend payment with Counterparty, you are not required to wait 10 minutes for it to go through, you can just walk away and reclaim that 10 minutes of your life and the transaction will go through without you. The same time is spent either way.

The usability of both wallets is practically identical as well. So again, the only advantage XHC has, is speed.

i never said the XCP dev's are not responsive.  please don't put words where there aren't any.

the main branch has a good team and indeed will benefit from the XCH team's contributions, however the backbone they are working with is bit gimped, as we all know from the op return 80  gimp to 40, and the 10 minute confirms.  of course bitcoin has other advantages like network effect, stability and having the code worked on by many people.

forget about high frequency trading when we talk about machine to machine electronic markets, it is nice to get higher frequency and resolution.

BTC is fine for stuff like trading equities and settling between off chain accounts, but for other use cases 10 minutes just doesn't cut it.

btw i now own XCP, XDP and XCH

[Fernandez]

I would like to see a feature in counterwallet which adds up the total balances of all the addresses. Currently, it shows them separately, and I have to add manually to get the total for any asset.

[Equality 7-2521]

Yet another advantage of the Counterparty Protocol running on the Bitcoin Protocol - it will benefit from Bitcoin's other broadcast channel developments - http://kryptoradio.koodilehto.fi/. See Coindesk's article too - http://www.coindesk.com/bitcoiners-finland-send-cryptocurrency-radio/.

So is it true to say that the Counterparty Protocol transactions are currently being beamed to the majority of the population of Finland? The Counterparty Protocol Broadcast Transactions are literally being broadcast! 

[Fernandez]

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

Agree with this. I'm wondering whether the devs have any plans to create a foundation and accept memberships/donations to help even more with development?

Counterparty devs are anonymous, so difficult to create any kind of foundation with that. Maybe a few big holders who are not averse to being public can get together and make one.

[profitofthegods]

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

Agree with this. I'm wondering whether the devs have any plans to create a foundation and accept memberships/donations to help even more with development?

Counterparty devs are anonymous, so difficult to create any kind of foundation with that. Maybe a few big holders who are not averse to being public can get together and make one.

Oh yes, you are right. I guess that is what will eventually happen, but if it means the current devs retiring from the project I think it wouldn't be good for it to happen any time soon.

[IamNotSure]

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

Agree with this. I'm wondering whether the devs have any plans to create a foundation and accept memberships/donations to help even more with development?

Counterparty devs are anonymous, so difficult to create any kind of foundation with that. Maybe a few big holders who are not averse to being public can get together and make one.

What ?? They're not anonymous.

[prophetx]

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

Agree with this. I'm wondering whether the devs have any plans to create a foundation and accept memberships/donations to help even more with development?

Counterparty devs are anonymous, so difficult to create any kind of foundation with that. Maybe a few big holders who are not averse to being public can get together and make one.

What ?? They're not anonymous.

were, not are

[Fernandez]

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

Agree with this. I'm wondering whether the devs have any plans to create a foundation and accept memberships/donations to help even more with development?

Counterparty devs are anonymous, so difficult to create any kind of foundation with that. Maybe a few big holders who are not averse to being public can get together and make one.

What ?? They're not anonymous.

were, not are

Didn't know that.

Who are PhantomPhreak and cityglut?