krach
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Activity: 1851
Merit: 1020
Get Rekt
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October 20, 2014, 09:04:44 PM |
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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? You are most likely going to have to be registered to buy stocks on the medici platform which is not the same front end as counterwallet. Sounds like medici is the stock exchange itself, and will not need to be transfered to an "actual" stock exchange as merdici will be one, at least that is how I understand it.
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bassclef
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October 20, 2014, 09:08:40 PM |
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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?
Counterparty is simply the protocol Overstock happens to be using to create decentralized stock/share trading software. No one knows yet exactly how it will function or how it will look. Most likely digital shares will be proprietary to a digital trading platform though. I could see business opportunity for trading those shares to a traditional trading platform (NASDAQ, etc).
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BTCMILLIONAIRE
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October 20, 2014, 09:11:04 PM |
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I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp 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. So...it is not certain that Medici will use xcp...all speculation
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GeminiSimba
Full Member
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Activity: 176
Merit: 100
Ain't no party like a Counterparty!
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October 20, 2014, 09:15:12 PM |
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I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp 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. So...it is not certain that Medici will use xcp...all speculation Yes but I can almost say with certainty that xcp will be able to be used even without working for overstock or counterparty. Keep in mind XCP shows stake in the groundwork of counterparty. If you were a company planning to sell equity of your business on the land that is counterparty then ofcourse it's tokens will be desired. I will be HIGHLY surprised if XCP doesn't end up being one of the forms of tokens accepted at inception of Medici stock market launch.
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"You see, you and I, we believe in life. But you want to fight for it, to kill for it, even to die--for life. I only want to live it." (Ayn Rand)
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TechGen
Newbie
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Activity: 24
Merit: 0
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October 20, 2014, 10:21:42 PM |
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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?
Counterparty is simply the protocol Overstock happens to be using to create decentralized stock/share trading software. No one knows yet exactly how it will function or how it will look. Most likely digital shares will be proprietary to a digital trading platform though. I could see business opportunity for trading those shares to a traditional trading platform (NASDAQ, etc). Ok I understand, thanks for the clarification!
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xnova
Sr. Member
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Activity: 390
Merit: 254
Counterparty Developer
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October 20, 2014, 11:09:34 PM |
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XCP has been on a steady uptrend over the past couple of weeks. Nice to see, looks like this one is definitely a holder.
The supply is low which helps. Was just checking today, almost 15x return over the average burn price. The supply is indeed low. It would be silly to sell XCP now when Medici is just around the corner. Are there any proposed timelines on when Medici is expected to be operational? Patrick said three months for software and hopefully six months for regulatory work. In reality it will be longer. There is more required for the initial release (especially around interaction with other systems). However, we are moving forward.
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xnova
Sr. Member
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Activity: 390
Merit: 254
Counterparty Developer
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October 20, 2014, 11:11:12 PM |
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I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp 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. So...it is not certain that Medici will use xcp...all speculation For the elements of the protocol medici requires to function that require XCP, XCP will be used. Beyond that, I can't comment.
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GeminiSimba
Full Member
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Activity: 176
Merit: 100
Ain't no party like a Counterparty!
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October 20, 2014, 11:56:12 PM |
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EMC2 board is considering doing a promotion involving counterwallet, I'm told you guys would be the best people to go to for solid info.
Would you tell me more about how counterwallet works.
Also, what might be a good way to use counterwallet to promote our coin.
thanks
EMC as in this international cloud computing organization? O_O http://www.emc.com/corporate/emc-at-glance/corporate-profile/index.htm
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"You see, you and I, we believe in life. But you want to fight for it, to kill for it, even to die--for life. I only want to live it." (Ayn Rand)
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Matt Y
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October 21, 2014, 12:26:43 AM |
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EMC2 board is considering doing a promotion involving counterwallet, I'm told you guys would be the best people to go to for solid info.
Would you tell me more about how counterwallet works.
Also, what might be a good way to use counterwallet to promote our coin.
thanks
Counterwallet is a deterministic web wallet that is compatible with Counterparty assets as well as bitcoin. I'm not sure how you could use Counterwallet to promote your coin. There are a few videos on the Counterparty YouTube channel that will show you what Counterwallet is: https://www.youtube.com/channel/UC8L6aXXyobFGD2ADJVwRGoQ
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daviducsb
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October 21, 2014, 02:37:42 AM |
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The fact that counterparty is still at an $11 million market cap despite the Byrne news is mind boggling. IMO should be 5 times that, as least as much as BitSharesX and probably where Litecoin is (10X). Byrne, some Mormons, and myself are going to make a killing on this thing.
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jrmg
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October 21, 2014, 08:36:30 AM |
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The fact that counterparty is still at an $11 million market cap despite the Byrne news is mind boggling. IMO should be 5 times that, as least as much as BitSharesX and probably where Litecoin is (10X). Byrne, some Mormons, and myself are going to make a killing on this thing.
Counterparty have also only like 10000 coins trading volume per 24 hour where litecoin have like 560000. Also in dollars $38k vs bitshares $260k. There is big different in all way you compare between counterparty or any other coins.. I think counterparty 24h volume never go really high because everyone buy for holding. Btw btc38 still no have list XCP? Still same vote is running http://www.btc38.com/trade/vote_for_trade_en.htmlAnyone know when that start? The period will be 1 to 3 weeks.
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Steffen17
Newbie
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Activity: 2
Merit: 0
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October 21, 2014, 10:24:56 AM |
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The fact that counterparty is still at an $11 million market cap despite the Byrne news is mind boggling. IMO should be 5 times that, as least as much as BitSharesX and probably where Litecoin is (10X). Byrne, some Mormons, and myself are going to make a killing on this thing.
Exactly. XCP is the only coin which can go X1000 and have a really big bubble, without no significant risk to make a mistake by buying it now. Furthermore, I can't imagine how much people will regretting not to have a share of Wall Street. The next pump is imminent. In the beginning, I felt really bad for people going on the thread, saying "It is 8 months old, it won't pump" and going elsewhere, especially bittrex shitcoins : 80 % of coins disappear in 2 months, most of noobs loose money and, guess what, meanwhile, XCP made steadily X15, with nobody loosing money and no FUD / manipulation. Now, I don't care for so stupid people. There have been so many articles, it is not ignorance, but stupidity, or denial. New articles AGAIN by the way : https://www.cryptocoinsnews.com/overstocks-medici-partner-counterparty-announces-counterparty-foundation/http://newsbtc.com/2014/10/20/overstocks-crypto-exchange-partner-counterparty-launching-foundation/
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lonsharim
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October 21, 2014, 11:28:19 AM |
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Are there any proposed timelines on when Medici is expected to be operational?
Patrick said three months for software and hopefully six months for regulatory work. In reality it will be longer. There is more required for the initial release (especially around interaction with other systems). However, we are moving forward. Thanks Matt Y and xnova Could either of you shed some light on the regulatory challenges or is it very early days and we should wait and watch. I am curious about what kind of users will be allowed in medici exchange. I can't imagine financial regulatory authorities being OK with user anonymity. Would that mean that users in the exchange will have be registered/verified? I am guessing something along those lines will be really help with regulatory approval. There are tons of other issues but this struck to me as the biggest impediment. Are you in a position to comment?
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GSI_Kristjan
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Activity: 41
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October 21, 2014, 11:37:54 AM |
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Can't comment the certainty, but being in financials for more than a decade, I'm 100 percent sure that there will be a identification process added for those who want to invest in assets through Medici. There is simply no other way for governments to keep track on profits and taxes.
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BitThink
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Activity: 882
Merit: 1000
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October 21, 2014, 01:08:46 PM |
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May I suggest to move all the posts speculating XCP price to their own thread?
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mishax1
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Activity: 2898
Merit: 1017
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October 21, 2014, 01:13:14 PM |
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Equality 7-2521
Member
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Activity: 118
Merit: 10
A difference which makes a difference
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October 21, 2014, 01:25:37 PM |
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The Counterparty Protocol team never took a dime of investment and they paid for development out of their own pocket. Quite foresight and prudent of them.
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TechGen
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Activity: 24
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October 21, 2014, 03:21:45 PM |
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I'm trying to understand all this. What is the difference between counterparty and clearinghouse? And why would one choose one platform over another? Are they both compatible with btc? A good friend of mine told me to come here and check out clearinghouse, he said that is the platform his company is actively looking at implementing into their business (a gaming company) much like how overstock is doing with counterparty.
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GeminiSimba
Full Member
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Activity: 176
Merit: 100
Ain't no party like a Counterparty!
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October 21, 2014, 03:41:30 PM |
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I'm trying to understand all this. What is the difference between counterparty and clearinghouse? And why would one choose one platform over another? Are they both compatible with btc? A good friend of mine told me to come here and check out clearinghouse, he said that is the platform his company is actively looking at implementing into their business (a gaming company) much like how overstock is doing with counterparty.
I just went to clearinghouses page and it says they are based off the counterparty protocol and also run on the bitcoin blockchain. In other words they are a counterparty clone without the exposure and interest of big companies. As far as which is better? Well if they are clones then from a technical standpoint both are pretty much the same, the big difference will be in the people who are the lead developers of the coin and also the "community" of the coin. In the case of counterparty, the CEO of Overstock specifically said in his speech that he went to a bitcoin conference, met the counterparty guys "randomly" and had such a good connection with the devs he decided on the spot that he wanted to work with them.
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"You see, you and I, we believe in life. But you want to fight for it, to kill for it, even to die--for life. I only want to live it." (Ayn Rand)
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