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

[sharky101]

any comments by the counterparty team regarding this strange SEC stuff?

Coin price seems to be tanking.

[bitcoinrocks]

any comments by the counterparty team regarding this strange SEC stuff?

Do you mean the FinCEN announcement:

http://www.coindesk.com/fincen-rules-bitcoin-payment-processors-exchanges-money-transmitters/

Or something else?

[nakaone]

any comments by the counterparty team regarding this strange SEC stuff?

Do you mean the FinCEN announcement:

http://www.coindesk.com/fincen-rules-bitcoin-payment-processors-exchanges-money-transmitters/

Or something else?

exactly - to be fair I see by organisational structure as well as industry connection counterparty as the most serious 2.0 platform at this point of time. So it is more or less a question how this will be handled.

[krach]

SEC
https://de.scribd.com/doc/244670525/Letter-LA-Office

Companies that issued "assets" on counterparty could be affected but not counterparty itself as a platform.

[iCEBREAKER]

SEC
https://de.scribd.com/doc/244670525/Letter-LA-Office

Companies that issued "assets" on counterparty could be affected but not counterparty itself as a platform.

If XCP facilitates sale of illegal securites, it's like a crack house full of crack dealers.  Gonna have a bad time...

[KryptoFoo]

any comments by the counterparty team regarding this strange SEC stuff?

Do you mean the FinCEN announcement:

http://www.coindesk.com/fincen-rules-bitcoin-payment-processors-exchanges-money-transmitters/

Or something else?

I think poster was referring to this:

https://www.cryptocoinsnews.com/sec-sends-inquiry-letters-hundreds-bitcoin-companies-unregistered-securities/

[deliciousowl]

If XCP facilitates sale of illegal securites, it's like a crack house full of crack dealers.  Gonna have a bad time...

I think that's a bit hyperbolic. A few people might get serious difficulties, but many others use tokens in a way that does not infringe on any regulation or laws.

Also, Counterparty as a fully open-source platform will not be affected, because the Bitcoin network will still be online. All money in the world can be used for good or evil, so I don't think it's fair to blame the tools we use for this phenomenon. Money in the world can go to charities or cartels, but its the people who decide.

And if you've been following recent news, Counterparty is creating a foundation and cooperating with Overstock to create a platform with full regulatory compliance.

[nakaone]

If XCP facilitates sale of illegal securites, it's like a crack house full of crack dealers.  Gonna have a bad time...

And if you've been following recent news, Counterparty is creating a foundation and cooperating with Overstock to create a platform with full regulatory compliance.

I think this is quite crucial - whoever thinks he can live his liberterian dream within this business is completely delusional. Especially this 2.0 platfors almost scream for a regulatory framework. what I want to know is how it is handled practically.

[bitcoinrocks]

I guess this is the beginning of Peter Byrne vs the SEC.  Let's hope they can work it out.

[profitofthegods]

The ppl selling need to think before they act. Counterparty is going down and not than things like NXT or Bitshares just because Counterparty happened to get mentioned in this article, but over the long term its the best positioned for regulatory compliance. Look at something like NXT and half the assets are scams and most of the other half are tiny one man operations which could never afford to do things the 'right way', but Counterparty seems to be mostly larger projects and has this Medici thing being built.

[krach]

The ppl selling need to think before they act.

Maybe the people selling got a letter from the SEC

[Equality 7-2521]

The ppl selling need to think before they act. Counterparty is going down and not than things like NXT or Bitshares just because Counterparty happened to get mentioned in this article, but over the long term its the best positioned for regulatory compliance. Look at something like NXT and half the assets are scams and most of the other half are tiny one man operations which could never afford to do things the 'right way', but Counterparty seems to be mostly larger projects and has this Medici thing being built.

Well said. Interestingly enough, if these "authorities" were to go after some of the "Bitcoin 2.0" platforms themselves, Counterparty would surely come out unscathed having not raised any external funding (Proof-of-Burn was a very foresightful and innovative move).

[Matt Y]

Isn't this type of thing aimed at for-profit businesses and not so much for open source software that has no revenue model?

I think we'll look back in a bit and scold ourselves for panicking. Still holding for everything I'm worth.

[zanzibar]

The ppl selling need to think before they act. Counterparty is going down and not than things like NXT or Bitshares just because Counterparty happened to get mentioned in this article, but over the long term its the best positioned for regulatory compliance. Look at something like NXT and half the assets are scams and most of the other half are tiny one man operations which could never afford to do things the 'right way', but Counterparty seems to be mostly larger projects and has this Medici thing being built.

In my opinion, Counterparty faces many obstacles, one being regulation, another becoming irrelevant via sidechains, another when people realize Byrne is build a completely independent platform that has nothing to do with Counterparty (which is in fact what he is doing, you guys just don't know it yet).  You can squabble all day about comparing Counterparty to Nxt or Bitshares, which accomplishes nothing.  Nxt assets like Nxxty and Jinn will soon have larger market caps then Counterparty and perhaps even Nxt. 

[IamNotSure]

The ppl selling need to think before they act. Counterparty is going down and not than things like NXT or Bitshares just because Counterparty happened to get mentioned in this article, but over the long term its the best positioned for regulatory compliance. Look at something like NXT and half the assets are scams and most of the other half are tiny one man operations which could never afford to do things the 'right way', but Counterparty seems to be mostly larger projects and has this Medici thing being built.

In my opinion, Counterparty faces many obstacles, one being regulation, another becoming irrelevant via sidechains, another when people realize Byrne is build a completely independent platform that has nothing to do with Counterparty (which is in fact what he is doing, you guys just don't know it yet).  You can squabble all day about comparing Counterparty to Nxt or Bitshares, which accomplishes nothing.  Nxt assets like Nxxty and Jinn will soon have larger market caps then Counterparty and perhaps even Nxt. 

I liked your post until the NXT propaganda kicked in.

[PhantomPhreak]

The ppl selling need to think before they act. Counterparty is going down and not than things like NXT or Bitshares just because Counterparty happened to get mentioned in this article, but over the long term its the best positioned for regulatory compliance. Look at something like NXT and half the assets are scams and most of the other half are tiny one man operations which could never afford to do things the 'right way', but Counterparty seems to be mostly larger projects and has this Medici thing being built.

In my opinion, Counterparty faces many obstacles, one being regulation, another becoming irrelevant via sidechains, another when people realize Byrne is build a completely independent platform that has nothing to do with Counterparty (which is in fact what he is doing, you guys just don't know it yet).  You can squabble all day about comparing Counterparty to Nxt or Bitshares, which accomplishes nothing.  Nxt assets like Nxxty and Jinn will soon have larger market caps then Counterparty and perhaps even Nxt. 

From a regulatory perspective, Counterparty doesn't do anything that Bitcoin itself doesn't also do.

There is zero chance of Counterparty becoming "irrelevant" because of sidechains, which will always be much less secure and have fewer features than Counterparty.

Overstock.com is building the Medici crypto stock market directly on top of Counterparty.

[deliciousowl]

When people realize Byrne is build a completely independent platform that has nothing to do with Counterparty (which is in fact what he is doing, you guys just don't know it yet).

That's a ridiculous claim. Medici is definitely using XCP and Counterparty. And as PhantomPhreak stated, sidechains are much less secure. It makes no sense to sacrifice liquidity or security in either scenario.

[Matt Y]

There is zero chance of Counterparty becoming "irrelevant" because of sidechains, which will always be much less secure and have fewer features than Counterparty.

This is still not fully understood. Will be nice once it clicks for everyone.

[Kergekoin]

Good to see the price finally falling. I was looking for an opportunity to buy some.

[GeminiSimba]

Honestly I hope people keep panicking so I can play the warren buffet card. He always says never look at the day to day price of an asset, pick an asset that you feel you understand, has HUGE growth potential, and is atm HIGHLY undervalued and just keep investing in it at your own pace and you WILL come out on top.

So let the people panic and sell, let the price drop down to .001btc so I can buy up a bunch more. I posted on the previous page about bitcongress and I bet most of you didn't even check it out, they are building an entire platform to offer the citizens a way to vote for legislation in a decentralized fashion and this platform was built with counterparty... I mean jeez if you guys really look at the stuff counterparty is being used to create right now and thus realize how XCP (the token showing stake in the future of the protocol) will be beyond valuable within a year or so...If many of you really comprehended what was going on here you'd be buying up as much XCP as you humanly could lol.