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

[jrmg]

Have Medici any public schedule yet? This year? First half in next or anything?

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[deliciousowl]

Have Medici any public schedule yet? This year? First half in next or anything?

Patrick Byrne is optimistic and says April, and the code will almost surely be done by then, but regulation can delay the process indefinitely. So we'll have to wait and see.

[PhantomPhreak]

When will we see Ethereum's code on the mainnet? I'd like to see how it handles reorgs...

The contract code is totally independent of the reorg code, which does a complete reparse of all transactions each time.

[Come-from-Beyond]

The contract code is totally independent of the reorg code, which does a complete reparse of all transactions each time.

How are you going to solve such the problem (not very related to your reply but logically follows from it):

Some (most of?) contracts have state that must be stored or recomputed every time a node is launched. Recomputation is impractical for big number of active contracts, storing seems to be a better way. Storing the state locally is much cheaper than storing on the blockchain, but it means that a new node have to download the blockchain and recompute all state changes of all the contracts from the very beginning. At some point amount of computations may become very big slowing down blockchain analysis (recomputation) greatly.

Bitcoin already has the problem of ever-growing blockchain (low bandwidth problem), Counterparty adds the problem of ever-growing number of computations required for catching up the network (slow processor problem). Luckily processor speed grows faster than bandwidth but if max rate of blockchain growth is limited by 1 MB block limit, max contract complexity is not limited. A bad choice of fee for contract execution (similar to gas in Ethereum) may make it cheap to create such contracts that won't allow to compute them with the rate of 10 min/block. In this case we will observe "black hole" effect, blocks will be generated faster than analyzed and new nodes (and existing ones) won't be able to keep up the rate.

[GeminiSimba]

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.


*edit* can someone explain what the "sign" a wallet functionality does? Or how that works?

[deliciousowl]

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.


*edit* can someone explain what the "sign" a wallet functionality does? Or how that works?

You can print a Bitcoin paper wallet (public and private key), and store it there.

"Sign Message" is advanced functionality of Bitcoin which allows you to sign arbitrary messages to prove to that you are (were) in control of some Bitcoin address.

[weex]

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.


*edit* can someone explain what the "sign" a wallet functionality does? Or how that works?

I would consider Counterwallet to be safer than Bter but if you're looking to hodl, you can create a paper wallet at https://www.bitaddress.org. If you want better security, you download and run your computer from an Ubuntu live CD and run a saved copy of bitaddress.org on it. Either way, you can print or write down the address and private key pairs that bitaddress.org generates and use those to store your XCP offline (i.e. in cold storage).

When it comes to security, I believe the best advice is to learn in proportion to the amount of value you are storing. As the value increases, you may want to go further in verifying your Ubuntu CD, setting up Armory, building a shielded underground lair, etc.

[SalimNagamato]

what is the problem with making cold storage ?
and can use the counterpartyd to send them later
i got all my 8.9 XCP and some Folding coins i folded , together with my BTC in cold storage
i told to my grandmother that this is part of my pension fund......when im 60 i'll buy a ferrari with that !

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.


*edit* can someone explain what the "sign" a wallet functionality does? Or how that works?

[5000Bitcoins]

I'm reading some about this - I like what you guys are doing thus far!

[baddw]

As i spend 80 bucks every paycheck on more and more xcp (buffet style value investing ftw) I keep wishing I could just print a paper wallet of an xcp private key with ease but that doesn't seem to be possible. I have half my xcp on bter and half on my counterwallet and I feel like neither location is safer than the other. There has to be a better way to safeguard this stuff in a way that won't require someone to just figure out my passphrase on counterwallet.

"just figure out my passphrase on counterwallet" -- assuming you are using the 12-word passphrase generated by Counterwallet when you set up your account, uh, the odds of that are astronomical.  I can't remember the dictionary that the word choices are from, but let's say that it is 20,000 words.  (I think that is close to being right.)  Choosing 12 words from that 20,000 word dictionary gives a total of 8x10^42 possible combinations.  If someone were to try 1,000,000 combinations per second, it would take 2.5x10^29 years to go through all of the combinations.  That is 1.8x10^19 times the age of the universe.

The odds of a counterwallet passphrase being brute-force discovered are roughly the same as any Bitcoin private key being brute-force discovered.

[cAPSLOCK]

The odds of a counterwallet passphrase being brute-force discovered are roughly the same as any Bitcoin private key being brute-force discovered.

Indeed this is not what to worry about.  What to worry about, are trojans, rootkits, keyloggers, screen scrapers, nosy coworkers, etc.

[pankogulo]

Counterparty Development Update #2: 'no-fee' asset names, new counterpartyd version, ethereum updates, multisig and more: http://counterparty.io/news/counterparty-development-update-2/

[palawan]

I didn't notice this CounterParty github until last night  https://github.com/CounterpartyXCP/counterwallet

I git cloned it and performed the steps to install (via npm) and aside from creating an account at transifex.com (for downloading the translations files), the installation was successful.  I just don't know how to access it now   

I want to run a local copy of the https://counterwallet.io    on a local computer (inside my LAN) that won't be published outside by my router.

• 1.  Do I just put the above on an apache server (on my laptop or even a separate computer/server)?
• 2.  Will it connect to the network or do I need to run a counterpartyd and bitcoind node (I have one running now)?

Thank you!

[palawan]

I didn't notice this CounterParty github until last night  https://github.com/CounterpartyXCP/counterwallet

I git cloned it and performed the steps to install (via npm) and aside from creating an account at transifex.com (for downloading the translations files), the installation was successful.  I just don't know how to access it now   

I want to run a local copy of the https://counterwallet.io    on a local computer (inside my LAN) that won't be published outside by my router.

• 1.  Do I just put the above on an apache server (on my laptop or even a separate computer/server)?
• 2.  Will it connect to the network or do I need to run a counterpartyd and bitcoind node (I have one running now)?

Thank you!

I think you also need to run counterblockd but yes it should all work.

Cool. Thanks for the counterrblockd info.

[pt7]

The odds of a counterwallet passphrase being brute-force discovered are roughly the same as any Bitcoin private key being brute-force discovered.

Indeed this is not what to worry about.  What to worry about, are trojans, rootkits, keyloggers, screen scrapers, nosy coworkers, etc.

Yes. And don't forget fishing.  Never google "counterwallet" or you can end up clicking on a sponsored imposter.  I learned my lesson after googling "blockchain" a few months ago - I am surprised that Google has not blacklisted this keyword by now.

[bassclef]

The odds of a counterwallet passphrase being brute-force discovered are roughly the same as any Bitcoin private key being brute-force discovered.

Indeed this is not what to worry about.  What to worry about, are trojans, rootkits, keyloggers, screen scrapers, nosy coworkers, etc.

Yes. And don't forget fishing.  Never google "counterwallet" or you can end up clicking on a sponsored imposter.  I learned my lesson after googling "blockchain" a few months ago - I am surprised that Google has not blacklisted this keyword by now.

Yes, it's a good idea to type it in manually or keep bookmarks.

Another security tip is to use a non-admin account in Windows. While this probably isn't 100% foolproof, it at least prevents important files from being accessed by malicious programs.

[520Bit]

Satoshi designed Bitcoin at a good start so that XCP can implement what he mentioned here:

The design supports a tremendous variety of possible transaction types that I designed years ago.  Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc.  If Bitcoin catches on in a big way, these are things we'll want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later.

I don't believe a second, compatible implementation of Bitcoin will ever be a good idea.  So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network.  The MIT license is compatible with all other licenses and commercial uses, so there is no need to rewrite it from a licensing standpoint.

https://bitcointalk.org/index.php?topic=195.msg1611#msg1611

[NOjust]

such huge trade volume of xcp,
sad to sell at 005,realy pity for that.

you sold at 0.005 ?
still very good profit if you got them by burning
me only have 8, which i got for trading other nice asset on counterparty exchange

I bought some at 0.005 ,but still sell at it,
so pity for not to wait till now.

[pikuchato]

such huge trade volume of xcp,
sad to sell at 005,realy pity for that.

you sold at 0.005 ?
still very good profit if you got them by burning
me only have 8, which i got for trading other nice asset on counterparty exchange

I bought some at 0.005 ,but still sell at it,
so pity for not to wait till now.

Don't be hard with yourself, whoever bought those coins had inside information.
Look at the graph, the uptrend began 1 month before the announcement itself.

I sold mine for 0.005 as well

[jrmg]

The odds of a counterwallet passphrase being brute-force discovered are roughly the same as any Bitcoin private key being brute-force discovered.

Indeed this is not what to worry about.  What to worry about, are trojans, rootkits, keyloggers, screen scrapers, nosy coworkers, etc.

Yes. And don't forget fishing.  Never google "counterwallet" or you can end up clicking on a sponsored imposter.  I learned my lesson after googling "blockchain" a few months ago - I am surprised that Google has not blacklisted this keyword by now.

Yes, it's a good idea to type it in manually or keep bookmarks.

Another security tip is to use a non-admin account in Windows. While this probably isn't 100% foolproof, it at least prevents important files from being accessed by malicious programs.

You think I am enough safe if I have and run in computer Malwarebytes Anti-Malware, Zemana Antilogger(free version) and Avast Free Antivirus? Need i some firewall also or is this all + windows own enough? I run webwallet sometimes in hostel,hotel, apartment hotel wifi with normal firefox...

Btw If i have save to my firefox gmail email passwords are there risk someone can get it if i use public wifi? If not think i lose my notebook. I don't have any passwords in email but still want stay safe