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

[Equality 7-2521]

Moving from burning address could mean wallet reorganization, still 40% is unbelievable.  

if blockchain or blockr can link from bitcoin addresses to blockscan that would be a huge approve fron the commcommunity.  Maybe we should reach out to them.

You're right. The best statistic would be how much XCP is either still in the burn address or has been moved only once, say (for wallet reorganization/management).

It would be awful to scare Blockchain and Blockr etc. away by requesting them to look into Counterparty support/integration too soon. It will happen inevitably if Counterparty and it's surrounding ecosystem continue to develop at this relentless pace!

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

[deliciousowl]

Speaking of upward pressure on XCP, have you guys seen this? 

"bitSIM will enable anyone with a mobile phone to securely own and perform Counterparty and Bitcoin transactions and streamline access and control of their Blockchain Assets. Vennd.io will provide the basis for liquidity providers to list their assets on a secondary market rather than a centralized registry. Details of the first instrument to be listed for sale will be released in the following weeks."

http://www.bitsim.co/

[Equality 7-2521]

Speaking of upward pressure on XCP, have you guys seen this?  

"bitSIM will enable anyone with a mobile phone to securely own and perform Counterparty and Bitcoin transactions and streamline access and control of their Blockchain Assets. Vennd.io will provide the basis for liquidity providers to list their assets on a secondary market rather than a centralized registry. Details of the first instrument to be listed for sale will be released in the following weeks."

http://www.bitsim.co/

bitSIM is fascinating. The Counterparty ecosystem is blossoming in all directions.

This entire article is inspiring - http://bravenewcoin.com/news/vennd-powers-next-gen-crowd-funding/.

[Matt Y]

I was surprised the Vennd news did not move the price more. It seems like a similar play to Overstock that is based out of Australia with a side dish of really sweet cell phone tech from one of the first and most innovative entrepreneurs in the Counterparty ecosystem, who also happens to have a fairly impressive background in finance/consulting type stuff if I'm not mistaken. I'm eager to see timelines for this project and to get more information in general from both Vennd and Medici.

[Matt Y]

Moving from burning address could mean wallet reorganization, still 40% is unbelievable.  

if blockchain or blockr can link from bitcoin addresses to blockscan that would be a huge approve fron the commcommunity.  Maybe we should reach out to them.

You're right. The best statistic would be how much XCP is either still in the burn address or has been moved only once, say (for wallet reorganization/management).

It would be awful to scare Blockchain and Blockr etc. away by requesting them to look into Counterparty support/integration too soon. It will happen inevitably if Counterparty and it's surrounding ecosystem continue to develop at this relentless pace!

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

Maxmint ran a service where he burnt BTC for people who were not technically inclined enough to do it themselves. Because of this, whatever number you guys come up with will be a touch low. I'm not sure how much volume he did in total, but I think it was a pretty decent chunk.

[Equality 7-2521]

I was surprised the Vennd news did not move the price more. It seems like a similar play to Overstock based out of Australia with a side dish of really sweet cell phone tech from one of the first and most innovative entrepreneurs in the Counterparty ecosystem, who also happens to have a fairly impressive background in finance/consulting type stuff if I'm not mistaken. I'm eager to see timelines for this project and to get more information in general from both Vennd and Medici.

It's not really been picked up by "mainstream" Bitcoin news though. It dropped off the Reddit radar pretty quickly too. I'd be surprised if Coindesk don't do a big Vennd and Vennd-related-projects piece soon.

[hill]

Gems Bitcoin App Empowered by Counterparty Lets Users Earn Money From Social Messaging (coindesk.com)
http://www.coindesk.com/gems-bitcoin-app-lets-users-earn-money-social-messaging/

[weex]

Gems Bitcoin App Empowered by Counterparty Lets Users Earn Money From Social Messaging (coindesk.com)
http://www.coindesk.com/gems-bitcoin-app-lets-users-earn-money-social-messaging/

My suggestion to scrap the IPO. https://bitcointalk.org/index.php?topic=758004.msg9266647#msg9266647

[GeminiSimba]

Will medici (which Overstock is building) have an IPO?

I just want to shed some light based on all the podcasts and videos I've listened to Patrick Byrne talk about Medici. First off to have an ipo makes medici sound like a business rather than a platform. Medici is specifically going to be a virtualized version of wallstreet. One thing Patrick (CEO of Overstock) does mention though, is that as soon as they launch medici they (overstock) will be the first company to list it's shares publicly on the platform so we will be able to immediately start buying overstock...stock


***EDIT***
One more thing, and this is why I see XCP rising in price dramatically in the future, potentially larger than bitcoin. XCP represents a stake in the protocol itself right? The way I think of it is this, if overstock succeeds in creating a bitcoin wallstreet and hundreds and thousands of startups and other companies begin to desire to use their platform (which is run on counterparty) to list their shares online then people with XCP will essentially be equivalent to in the physical world owning actual land in wallstreet that someone wants to use for their business. Oh, you want to work here on wallstreet? Well I have some land here I'm willing to trade you to get your business up and running, just slide me over some equity in your company lol.

[romerun]

Speaking of upward pressure on XCP, have you guys seen this? 

"bitSIM will enable anyone with a mobile phone to securely own and perform Counterparty and Bitcoin transactions and streamline access and control of their Blockchain Assets. Vennd.io will provide the basis for liquidity providers to list their assets on a secondary market rather than a centralized registry. Details of the first instrument to be listed for sale will be released in the following weeks."

http://www.bitsim.co/

I don't see Counterparty mentioned on the bitsim site

[Equality 7-2521]

Speaking of upward pressure on XCP, have you guys seen this?  

"bitSIM will enable anyone with a mobile phone to securely own and perform Counterparty and Bitcoin transactions and streamline access and control of their Blockchain Assets. Vennd.io will provide the basis for liquidity providers to list their assets on a secondary market rather than a centralized registry. Details of the first instrument to be listed for sale will be released in the following weeks."

http://www.bitsim.co/

I don't see Counterparty mentioned on the bitsim site

It's not mentioned on their site yet. They're using Vennd to access Counterparty. See both of these articles:

http://bravenewcoin.com/news/connecting-the-dots-how-bitcoin-is-reinventing-wall-st/
http://bravenewcoin.com/news/vennd-powers-next-gen-crowd-funding/

And the bitSIM founder's tweet: https://twitter.com/Leon_Vandenberg/status/524067638968717313

[Equality 7-2521]

XCP having no ongoing issuance makes it particularly pure from a speculation/manipulation point of view. There are no miners who need to dump it to pay for electricity. So I think we could see some even more extreme bubbles in it than we've seen with Bitcoin and alts.

To Equality's point about XCP requiring little volume to maintain price, that knife cuts both ways. It also only takes 50 btc worth of XCP to crash the price to 0.006. So the risk is considerable even as the implementation, utility, and adoption of the protocol itself are very impressive.

Point taken.

Will medici (which Overstock is building) have an IPO?

I just want to shed some light based on all the podcasts and videos I've listened to Patrick Byrne talk about Medici. First off to have an ipo makes medici sound like a business rather than a platform. Medici is specifically going to be a virtualized version of wallstreet. One thing Patrick (CEO of Overstock) does mention though, is that as soon as they launch medici they (overstock) will be the first company to list it's shares publicly on the platform so we will be able to immediately start buying overstock...stock


***EDIT***
One more thing, and this is why I see XCP rising in price dramatically in the future, potentially larger than bitcoin. XCP represents a stake in the protocol itself right? The way I think of it is this, if overstock succeeds in creating a bitcoin wallstreet and hundreds and thousands of startups and other companies begin to desire to use their platform (which is run on counterparty) to list their shares online then people with XCP will essentially be equivalent to in the physical world owning actual land in wallstreet that someone wants to use for their business. Oh, you want to work here on wallstreet? Well I have some land here I'm willing to trade you to get your business up and running, just slide me over some equity in your company lol.

I think viewing XCP ownership as land ownership is conceptually a good idea. XCP has very real utilities.

[Equality 7-2521]

http://bitcoinwarrior.net/2014/10/talk-adam-krellenstein-counterparty/

[profitofthegods]

One thing Patrick (CEO of Overstock) does mention though, is that as soon as they launch medici they (overstock) will be the first company to list it's shares publicly on the platform so we will be able to immediately start buying overstock...stock

I will be all over overstock stock.

[BTCMILLIONAIRE]

I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp 

[BTCMILLIONAIRE]

I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp  Huh

LOL   

Wow thanx 4 clarification...IDIOT

[GeminiSimba]

I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp  

Allow me to clarify, medici is not about overstock selling stock. Medici is going to be a complete virtualized version of wallstreet (which means a decentralized platform 'peer to peer' which actually follows regulations where companies all over the world will be able to sell their shares directly to investors without all the bs middle men/brokers that normal wall street investors have to deal with.) Overstock CEO had decided to build this "wallstreet" using the Counterparty protocol. Which means XCP (being the currency representing a stake in the counter party protocol) will probably be able to be used to buy shares from these future companies just like btc will be accepted.

Patrick was asked why not use one of the other protocols to build their decentralized wall street and he simply said that when he met the guys in charge of counterparty he felt that they vibed best :p

[bassclef]

I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp  

On the protocol level, XCP is required for certain functions. As I understand it, a .5 XCP "burn" is required create a new digital asset. Obviously this fee scales with XCP value so you don't run out.

So those sitting on XCP are doing so primarily to sell to companies/individuals looking to use the Counterparty protocol to create a platform for digital assets in the future. They are also "shareholders" in the protocol that will be able to vote future changes. Like a decentralized board.

[krach]

Wow thanx 4 clarification...IDIOT

wow thanks for taking it to heart.

You see the reason I am laughing is that you have a point.

Without going into great detail overstock wants to have less fraud and manipulation on the stock markets and make things more transparent by using blockchain technology. It makes it harder to front run orders and other typical cheating that happens in the legacy markets. How exactly that should all work and how well it will work with off chain parts of the market, who knows.

[TechGen]

I am new so go easy on me. How will all this work? If someone buys "shares" of overstock through counterparty will they be transferable to an actual stock exchange, or are they only able to be traded through the counterparty platform?