Matt Y
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October 07, 2014, 08:16:05 AM |
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BCNext wants to know: "What benefit will holders of XCP get (like 100x rise of the price)?"
How about what benefit will bitcoin holders get? This news is good for everyone. A decentralized stock market built on Bitcoin is huge news and good for the entire space. XCP holders have realized a 100% return in less than 24 hours (as of now) -- who knows what the future holds though.
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Kergekoin
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October 07, 2014, 08:31:28 AM |
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Looking at current market cap, I see at least another double up in short term and surely more after new development updates in few months.
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Spratan
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October 07, 2014, 08:31:47 AM |
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1/ Just to remind everybody that XCP ("the coin") is more convenient (cheaper and faster + voting rights) than BTC int the protocol.
The natural and logical consequence of counterparty adoption, and dev's vision, is that XCP replace BTC as main currency in the protocol (so in Wall Street and global finance), when Counterparty still relying on BTC blockchain.
XCP is only 2-3 $, and trading for 8 months at these cheap prices. Most burners ("early investors") haven't sold in 8 months time (whatever the experimented fudd) and always told they won't sell at least under 100$, what is still very low compared with BTC marketcap.
2/ Devs have perfectly followed the road map in the last months. The future is still clear : - Counterparty leads the way and is the standard for assets and others financial instruments. - meanwhile, the next bubble will be in crypto 2.0, forget altcoins. - XCP will "replace" BTC in finance.
It is just a remind for posterity, when XCP will go mainstream in Finance, and people complaining XCP is unaffordable. The future have been obvious for months, and the path is strictly the same that earliest bitcoiners have known. Like bitcoin in recent stages, the next fight for xcp is regulatory issues or SEC acceptance (By the way, this point has been already anticipated and studied by lawyers ).
I don't see other coins, assets or instrument which could make you millionaire...It is a extremely serious fault not to invest now in XCP, and hold. Don't say in the future you didn't know.
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Come-from-Beyond
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Newbie
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October 07, 2014, 08:44:36 AM |
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2. It's going to be built on Counterparty and as part of the Counterparty platform.
On Counterparty network or on Counterparty code? On the Counterparty network. Not a fork. As much a part of Counterparty as possible. Is there a link to words of Patrick Byrne regaring this issue? People that know how business is done won't believe that a CEO agrees to lose even a small part of the control they have. For XCP holders it may mean only 2 things: 1. Patrick will buy 99% of all XCP to remove even a small chance that other XCP holders could manipulate the market. 2. XCP won't affect Medici at all and hence will be unusable here, more likely trades will be done directly in BTC and in the best case XCP will be used to pay transaction fee (subject to 7 tx/sec limit).
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Spratan
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October 07, 2014, 08:48:08 AM |
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Some reasons why XCP has value:
1) Trading with XCP on the distributed exchange is (and always will be) cheaper and faster than with BTC.
2) You can use only XCP for making bets, CFDs and asset callbacks. Forthcoming complex features and financial instruments will also likely be restricted to denomination in XCP.
3) All future proof-of-stake voting, e.g. for protocol changes, voting functionality, DACs, etc. will be determined by XCP holdings.
XCP is the native currency of Counterparty and its sole first-class citizen. If the Counterparty protocol has great value (as I'm sure that it does), then so does XCP.
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Matt Y
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October 07, 2014, 08:58:16 AM |
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2. It's going to be built on Counterparty and as part of the Counterparty platform.
On Counterparty network or on Counterparty code? On the Counterparty network. Not a fork. As much a part of Counterparty as possible. Is there a link to words of Patrick Byrne regaring this issue? People that know how business is done won't believe that a CEO agrees to lose even a small part of the control they have. For XCP holders it may mean only 2 things: 1. Patrick will buy 99% of all XCP to remove even a small chance that other XCP holders could manipulate the market. 2. XCP won't affect Medici at all and hence will be unusable here, more likely trades will be done directly in BTC and in the best case XCP will be used to pay transaction fee (subject to 7 tx/sec limit). Phantom addressed this earlier in the thread. Search the last few pages or so and you'll find it. 1. Wouldn't he need to do the same for dollars then? 2. It's easier to use XCP on the DEx. Transaction fees on the Bitcoin network cannot be paid in XCP.
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BldSwtTrs
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October 07, 2014, 09:01:09 AM |
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What benefits will get Overstock by doing the front end?
They will probably want to take fees on every transactions, isn't it?
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Spratan
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October 07, 2014, 09:05:22 AM |
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What benefits will get Overstock by doing the front end?
They will probably want to take fees on every transactions, isn't it?
"After spinning off from Overstock, Byrne says, the company behind this project will help other businesses take their companies public and juggle transactions. The intention is to charge about 20 percent or less of what Wall Street banks charge for similar services today."
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Fernandez
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October 07, 2014, 09:07:30 AM |
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BCNext wants to know: "What benefit will holders of XCP get (like 100x rise of the price)?"
How about what benefit will bitcoin holders get? This news is good for everyone. A decentralized stock market built on Bitcoin is huge news and good for the entire space. XCP holders have realized a 100% return in less than 24 hours (as of now) -- who knows what the future holds though. Add to that the legal muscle they will bring to the field and streamline the procedure for others. Its a victory for all regardless of whether they have XCP or not.
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Come-from-Beyond
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October 07, 2014, 09:07:40 AM |
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Phantom addressed this earlier in the thread. Search the last few pages or so and you'll find it.
1. Wouldn't he need to do the same for dollars then? 2. It's easier to use XCP on the DEx. Transaction fees on the Bitcoin network cannot be paid in XCP.
Hehe, are you a programmer by a chance? Marketing guy would put all essential stuff into the OP or give a direct answer. We both understand that new guys won't read all 491 pages nor even last 5. They will check the OP and the last page. Regarding your questions: 1. No, the USA do all the work necessary to keep price/value of 1 USD stable. 2. This is how conventional Counterparty works, it has nothing to do with Medici. PS: I didn't find direct words of Patrick in links provided by Phantom. Ok, let's wait.
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deliciousowl
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October 07, 2014, 09:10:50 AM |
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My estimate is 1 XCP = 10 BTC. But then again I've been called insane before...
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Matt Y
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October 07, 2014, 09:12:12 AM |
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As an explanation, what this means is that Overstock.com has committed to using Counterparty as the platform for issuing securities on the Bitcoin blockchain, e.g. for public companies, over all other Bitcoin 2.0 tech. Robby (xnova) and Evan (cityglut) will be working on that particular goal, because of their expertise with Counterparty, even as we hire more developers to work with me full-time on the core protocol and ecosystem.
The exchange will be built on top of counterparty, is that confirmed? Thats one of the biggest news ever, if true.
Confirmed. Link? The Wired article says the coders have been hired, not that it is going to built on top of Counterparty. I can confirm it. Patrick Byrne discussed the matter extensively in his talk at Inside Bitcoins, which is not yet online. Right now, there's just this.
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TinEye
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October 07, 2014, 09:13:44 AM |
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My estimate is 1 XCP = 10 BTC. But then again I've been called insane before... You are insane (calling again ) This is a game changing development. Congrats to the whole Counterparty team.
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BldSwtTrs
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October 07, 2014, 09:15:24 AM |
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Will what Overstock is going to do still be open source or closed source?
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deliciousowl
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October 07, 2014, 09:16:18 AM |
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My estimate is 1 XCP = 10 BTC. But then again I've been called insane before... You are insane (calling again ) This is a game changing development. Congrats to the whole Counterparty team. Yep. Since we can expect lots of new users to get curious about Counterparty, I am reposting this article with a slight update. Here are 15 Counterparty Myths and their responses: http://coinedtalk.com/12-myths-about-counterpartyxcp/
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jrmg
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October 07, 2014, 09:34:16 AM |
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As an explanation, what this means is that Overstock.com has committed to using Counterparty as the platform for issuing securities on the Bitcoin blockchain, e.g. for public companies, over all other Bitcoin 2.0 tech. Robby (xnova) and Evan (cityglut) will be working on that particular goal, because of their expertise with Counterparty, even as we hire more developers to work with me full-time on the core protocol and ecosystem.
Great work Satoshi 2.0 and other Counterparty team too!
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flayway
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October 07, 2014, 10:52:10 AM |
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Phantom addressed this earlier in the thread. Search the last few pages or so and you'll find it.
1. Wouldn't he need to do the same for dollars then? 2. It's easier to use XCP on the DEx. Transaction fees on the Bitcoin network cannot be paid in XCP.
Hehe, are you a programmer by a chance? Marketing guy would put all essential stuff into the OP or give a direct answer. We both understand that new guys won't read all 491 pages nor even last 5. They will check the OP and the last page. Regarding your questions: 1. No, the USA do all the work necessary to keep price/value of 1 USD stable. 2. This is how conventional Counterparty works, it has nothing to do with Medici. PS: I didn't find direct words of Patrick in links provided by Phantom. Ok, let's wait. If you hold almost 200k XCP, is that enough when there is also 40% burners who dont have even move their coins yet when waiting price increase and still price have been really stable last many month? You are only too late from this train, sorry about that But in cow carriage have still space, you are welcome join there, i stake beers and music if you singing so travel time go faster.
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XCP: 19zzpgk3oakH2b7zd63mw3DadtNkvefVfo BTC: 1ASSkiRsqRUUp5Y8YQYnuc41fBbYR3iRD2
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profitofthegods
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October 07, 2014, 11:44:21 AM |
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Great new today for CounterParty!
Not surprising though, it seemed like such an obvious choice for this Overstock project. The only thing I'm surprised about is that I would have expected the price of XCP to go up by more - with this Medici thing being built on CP I really can't see how NXT is worth 3 times more and BitsharesX worth nearly 7 times more.
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Equality 7-2521
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A difference which makes a difference
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October 07, 2014, 11:52:17 AM |
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Tobo
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October 07, 2014, 12:01:38 PM Last edit: October 07, 2014, 12:23:41 PM by Tobo |
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As an explanation, what this means is that Overstock.com has committed to using Counterparty as the platform for issuing securities on the Bitcoin blockchain, e.g. for public companies, over all other Bitcoin 2.0 tech. Robby (xnova) and Evan (cityglut) will be working on that particular goal, because of their expertise with Counterparty, even as we hire more developers to work with me full-time on the core protocol and ecosystem.
If so, why do they need two devs and many months to build a Medici? Counterparty is ready and good to go, right? What really is Medici? It sounds like a regulation friendly clone of Counterpary after reading the news.
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