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

[weex]

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.

The main difference is which block chain each system is on. Counterparty rides on Bitcoin so benefits from the best network security and longest track record. I don't know what tweaks Clearinghouse has made but it is conceivable that they have some features that don't know xist or aren't enabled for Counterparty.

[ElTomeko27]

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.

Clearinghouse runs on the Viacoin blockchain not BTC.

[TechGen]

That makes sense, thanks guys. This is all very new to me still.

[GeminiSimba]

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.

Clearinghouse runs on the Viacoin blockchain not BTC.

I stand corrected, in that case Counterparty is definitely better to choose since the crypto ecosystem is starting to show as such that anything running on the ultra secure bitcoin blockchain is better than starting a new blockchain or using one less secure.

[romerun]

There's the reason why an alt should never surpass Bitcoin, because if it happens, it will break trust in both. Put it simple, how can investors, like Wallst, be sure that the alt won't be surpassed by newer alts ? So it should/will not happen.

Same logic can be applied to Counterparty, clones or other protocols on top of blockchain technology cannot compete with the original.

[nakaone]

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.

Clearinghouse runs on the Viacoin blockchain not BTC.

I stand corrected, in that case Counterparty is definitely better to choose since the crypto ecosystem is starting to show as such that anything running on the ultra secure bitcoin blockchain is better than starting a new blockchain or using one less secure.

first this and second much more imporantly

every week more btc adresses are added than any other altcoin has in total - counterparty indirectly uses this network effect.

[deliciousowl]

Food for thought, and why using the BTC Blockchain is a good idea.

Linked by Gavin in his AMA:

"Distributed Consensus from Proof of Stake is Impossible"
https://download.wpsoftware.net/bitcoin/pos.pdf

[TechGen]

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.

Clearinghouse runs on the Viacoin blockchain not BTC.

I stand corrected, in that case Counterparty is definitely better to choose since the crypto ecosystem is starting to show as such that anything running on the ultra secure bitcoin blockchain is better than starting a new blockchain or using one less secure.

But from what I understand, isn't clearinghouse compatible with, but not reliant on the bitcoin blockchain? Giving it flexibility and security? Sorry if this is a dumb question, I'm a novice.

[Matt Y]

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.

Clearinghouse runs on the Viacoin blockchain not BTC.

I stand corrected, in that case Counterparty is definitely better to choose since the crypto ecosystem is starting to show as such that anything running on the ultra secure bitcoin blockchain is better than starting a new blockchain or using one less secure.

But from what I understand, isn't clearinghouse compatible with, but not reliant on the bitcoin blockchain? Giving it flexibility and security? Sorry if this is a dumb question, I'm a novice.

No. Clearinghouse is not on Bitcoin. You're either on Bitcoin or you're not and Clearinghouse is not. It could be made to work with Bitcoin because Clearinghouse is a clone of Counterparty, but then, Counterparty is already on Bitcoin. If being on Bitcoin were not such a huge advantage the Counterparty developers could move it to another chain in a day or so. They won't because there is absolutely no reason to be on another chain, but it is possible. Any flexibility and security feature that Clearinghouse has, it has because the Counterparty developers wrote the code and open sourced it on GitHub so that other people could use it as well.

[GeminiSimba]

I just want to come in and laugh at how hoarding everyone is on bter. I put in an order for 1.5 XCP (JUST 1.5!!) and it took almost an hour for the order to go through LMAO. People are holding to the max.

[TechGen]

Ok, I think I understand. What I don't quite get yet is why would, say a gaming company, launch a gambling game on clearinghouse opposed to counterparty? I'm told because clearinghouse is much faster? Sorry if this is off topic.

[iCEBREAKER]

Clearinghouse is not on Bitcoin. You're either on Bitcoin or you're not and Clearinghouse is not. It could be made to work with Bitcoin because Clearinghouse is a clone of Counterparty, but then, Counterparty is already on Bitcoin. If being on Bitcoin were not such a huge advantage the Counterparty developers could move it to another chain in a day or so. They won't because there is absolutely no reason to be on another chain, but it is possible. Any flexibility and security feature that Clearinghouse has, it has because the Counterparty developers wrote the code and open sourced it on GitHub so that other people could use it as well.

There are  plenty of reasons to be on another chain.  Faster blocks, friendly relations with chain devs, quicker/better implementation of new features/bugfixes/etc.

Your absolute denial of them makes your position less reasonable and thus weaker, not stronger.

As for the forced choice between "either on Bitcoin or you're not"...treechains are coming!

http://bitcointlv.com/en/Agenda/Day-2-October-20

[GeminiSimba]

Ok, I think I understand. What I don't quite get yet is why would, say a gaming company, launch a gambling game on clearinghouse opposed to counterparty? I'm told because clearinghouse is much faster? Sorry if this is off topic.

Well according to their page - https://bitcointalk.org/index.php?topic=734674.0
It does say their coin is faster, but you have to think a bit logically here, counterparty tokens (xcp) run on the bitcoin blockchain, which means they run as fast as bitcoin. Thus clearinghouse is in essence saying their coin runs faster than bitcoin, which is totally fine but another thought is do you find any company unsatisfied with bitcoins speed today? Is there any companies just dying to get a coin faster than btc? You don't really hear about such things...thus if having a coin that runs faster than counterparty is a perk it's a pretty cheap perk in my opinion.

[TechGen]

Clearinghouse is not on Bitcoin. You're either on Bitcoin or you're not and Clearinghouse is not. It could be made to work with Bitcoin because Clearinghouse is a clone of Counterparty, but then, Counterparty is already on Bitcoin. If being on Bitcoin were not such a huge advantage the Counterparty developers could move it to another chain in a day or so. They won't because there is absolutely no reason to be on another chain, but it is possible. Any flexibility and security feature that Clearinghouse has, it has because the Counterparty developers wrote the code and open sourced it on GitHub so that other people could use it as well.

There are  plenty of reasons to be on another chain.  Faster blocks, friendly relations with chain devs, quicker/better implementation of new features/bugfixes/etc.

Your absolute denial of them makes your position less reasonable and thus weaker, not stronger.

As for the forced choice between "either on Bitcoin or you're not"...treechains are coming!

http://bitcointlv.com/en/Agenda/Day-2-October-20

Yes, this is what I'm learning. I will say for certain, I know that a big social gaming co might be the first to make this jump to clearinghouse. From what I'm told, they simply weren't happy with counterparty for whatever reason. Though they haven't ruled out counterparty, they seem to be more intrigued with clearinghouse. I have no idea when this will happen, but I'm told the first move will be merging a type of betting game on the platform as an experiment. I was also told that they are even exploring offering company shares through the platform as well. Meanwhile, I'm still just sitting here trying to figure it all out.

[Matt Y]

Clearinghouse is not on Bitcoin. You're either on Bitcoin or you're not and Clearinghouse is not. It could be made to work with Bitcoin because Clearinghouse is a clone of Counterparty, but then, Counterparty is already on Bitcoin. If being on Bitcoin were not such a huge advantage the Counterparty developers could move it to another chain in a day or so. They won't because there is absolutely no reason to be on another chain, but it is possible. Any flexibility and security feature that Clearinghouse has, it has because the Counterparty developers wrote the code and open sourced it on GitHub so that other people could use it as well.

There are  plenty of reasons to be on another chain.  Faster blocks, friendly relations with chain devs, quicker/better implementation of new features/bugfixes/etc.

Your absolute denial of them makes your position less reasonable and thus weaker, not stronger.

As for the forced choice between "either on Bitcoin or you're not"...treechains are coming!

http://bitcointlv.com/en/Agenda/Day-2-October-20

How another project that cloned Counterparty is going to out compete Counterparty devs (who have proven to develop quicker than just about anyone) by putting out features and bug fixes faster than the guys who wrote the software in the first place completely escapes me.

You're entitled to your opinion and I'm entitled to mine and I do agree that my opinion is quite absolute, but it's not based out of some sort of denial.

[Equality 7-2521]

http://counterparty.io/news/counterparty-community-update-oct-2014/

Congratulations on the new hire! Keep up the great work everyone!

[PhantomPhreak]

http://counterparty.io/news/counterparty-community-update-oct-2014/

Thanks for posting that!

On the Bitcoin subReddit: http://www.reddit.com/r/Bitcoin/comments/2jx405/counterparty_community_update_oct_2014/

[GeminiSimba]

http://counterparty.io/news/counterparty-community-update-oct-2014/

Congratulations on the new hire! Keep up the great work everyone!

"We have another major announcement that we will be making sometime over the next few weeks. Stay tuned!"

Jeez you guys are advancing in the space way too fast...I remember my excitement back in March when I got into Vertcoin because it was going to be the first altcoin that was "asic resistant". I was so gungho thinking that would be a big seller...well we all know how that turned out haha good thing I invested my vtc into a startup before they fell below .001btc.  Anyways that level of excitement that I had then is like 100 fold right now for XCP. I almost feel that being a protocol to revolutionize the investing world will be that "killer app" that everyone has been waiting for that will bring on the huge adoption of bitcoin.

[Equality 7-2521]

My quick attempt at visualizing the current Counterparty ecosystem. I don't have the skills to do this justice so I hope someone is inspired to create and maintain a better one!

[Patel]

great visualization.

and this is just for a bit of humor