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

[drakoin]

Did it start on poloniex after that rally crashed https://poloniex.com/exchange/btc_xcp
and then pulled down bter, too? https://bter.com/trade/xcp_btc  or the other way around?


I am bad/lazy with timezones :-)  Alright, I try:
Now it is 20:00 on bter and 12:00 on poloniex, that's 8 hours diff.

The first drop happened on bter only at 15:45.
That is poloniex-time 7:45 - right?


The mini-rally (up to 1,342,598 Satoshi !) on poloniex started at 3:30, and ended at 6:30.

So correct me if I am wrong, but that (artificial?) upwards rally on poloniex is what caused the crash to below 1 mio Satoshi.

[1715147229]

1715147229

[1715147229]

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[yeXIABC]

 reported on the mobile android browser, for instance. We haven't had time to add full support for

[MadGhost]

reported on the mobile android browser, for instance. We haven't had time to add full support for

But how long it will take to get a fully functional support.

[PhantomPhreak]

luke-jr is going mad again - I am not even entirely sure if this is a real problem given xcps implementation

http://www.reddit.com/r/Bitcoin/comments/2pfgjg/exposed_lukejr_plans_on_forcing_blacklists_on_all/

It is absolutely not a problem. Counterparty simply cannot be blocked by such methods. (It's just posturing.)

[PhantomPhreak]

luke-jr is going mad again - I am not even entirely sure if this is a real problem given xcps implementation

http://www.reddit.com/r/Bitcoin/comments/2pfgjg/exposed_lukejr_plans_on_forcing_blacklists_on_all/

It is absolutely not a problem. Counterparty simply cannot be blocked by such methods. (It's just posturing.)

For example, here's a recent block mined by Eligius, and a Counterparty transaction included in it:

https://blockchain.info/block-index/511946/000000000000000001eebb1a395096d23e74d6516d061adc1968ea5269b43665

http://blockscan.com/txInfo/11544891

[Anotheranonlol]

Does anyone know how much XCP is still left at the burn addresses? Is all of this trading just the same people buying and selling constantly? It's incredibly frustrating to see people with no patience or longer-term horizon completely decimate the price because liquidity is so low. Obviously if you are taking a long term view the price doesn’t matter much but it’s still not very fun watching the price tank like this.

Large amount of XCP is still around in burn address, but I don't think many are in a rush to cash that to low liquidity exchange and market sell -10%, -20% of their holdings despite absolutely nothing fundamentally changing as to when the price was that much higher.

You can see clearly a user here send XCP corresponding with the dumps;
http://blockscan.com/address/1Kc81qfcVpeRMWBJ7SKUHoTkBYdCzpAD4J

[ElTomeko27]

Does anyone know how much XCP is still left at the burn addresses? Is all of this trading just the same people buying and selling constantly? It's incredibly frustrating to see people with no patience or longer-term horizon completely decimate the price because liquidity is so low. Obviously if you are taking a long term view the price doesn’t matter much but it’s still not very fun watching the price tank like this.

Large amount of XCP is still around in burn address, but I don't think many are in a rush to cash that to low liquidity exchange and market sell -10%, -20% of their holdings despite absolutely nothing fundamentally changing as to when the price was that much higher.

You can see clearly a user here send XCP corresponding with the dumps;
http://blockscan.com/address/1Kc81qfcVpeRMWBJ7SKUHoTkBYdCzpAD4J

Thanks. I just don't get the market action on XCP sometimes. I understand that sometimes you might need to cash out for an extraordinary reason or whatever, but for me the risk/reward of holding XCP is a no brainer. IMO these dumpers risk looking like the BTC pizza guy.

Well what I can suggest is accumulation and patience ...wait until MEDICI start announcement.

[SalimNagamato]

why Counterparty is being blamed for spam ? its not advertising bad content.
its paying fees.. this is what bitcoin is about
if widely used - miners get a lot of fees

[prophetx]

anyone have any issues with counterwallet.io?

i have a wallet i created in August for the SJCX crowd sales and now I am not able to access it - neither using the 12 word or the secure URL option.

luckily i have saved the privkey to that address to my bitcoind... but this is somewhat concerning.

I am able to create a new account and use those 12 words to log in.

Anyone who created a wallet prior to early August 2014 please check and report back.

[prophetx]

anyone have any issues with counterwallet.io?

i have a wallet i created in August for the SJCX crowd sales and now I am not able to access it - neither using the 12 word or the secure URL option.

luckily i have saved the privkey to that address to my bitcoind... but this is somewhat concerning.

I am able to create a new account and use those 12 words to log in.

Anyone who created a wallet prior to early August 2014 please check and report back.

Mine works fine.

apparently some services were restarted on counterwallet and thus i was not able to access it

looks like all is working out okay now

[Anotheranonlol]

Just checked out http://pay.blockscan.com/

Amazing work, mtbitcoin! Even in tech preview stage it's looking extremely polished.

It seems something like this makes it possible for any entity who decides to act as their own voucher issuer on the CounterParty network, (offering discounts/coupons or memberships) a very low barrier to entry to accepting those vouchers on their sites. They can also be trustlessly traded amongst users via the decentralised exchange without risk of hacks/forgery. Just a coupon marketplace alone could be a big thing, Gyft was fairly recently acquired for just shy of $100 million

If only an exchange would step up to vend fiat -> fiat represented CounterParty asset in a guarantor role, then you could store (and trade) USD, EUR, GBP, CNY etc on the CounterParty network, similar to ripple gateways, navigate to a site and pay out in the fiat currency with the payment invoice, all whilst retaining ownership of your own private keys and without being exposed to the volatility of BTC. Seems like the technology is in place but the regulatory work is the real headache.. massive potential with this technology though  

[nonlinearboy]

dump

NOW ,it is OK, just a bit dump and pump.

[nonlinearboy]

anywhere to trade asset name in XCP?
I have some assets.

[pankogulo]

Hi all, two new posts from Counterparty:
Counterparty Community Update, Dec 17: Improved Release Process, Foundation News & More - http://counterparty.io/news/counterparty-community-update-dec-17/
Notes From The First Counterparty Foundation Board Meeting: http://counterpartyfoundation.org/notes-from-the-first-counterparty-foundation-board-meeting/

[pankogulo]

Any chance you could add paypal as a membership fee payment option?

Yes, if there's a need I don't see why not.

[prophetx]

Just checked out http://pay.blockscan.com/

Amazing work, mtbitcoin! Even in tech preview stage it's looking extremely polished.

It seems something like this makes it possible for any entity who decides to act as their own voucher issuer on the CounterParty network, (offering discounts/coupons or memberships) a very low barrier to entry to accepting those vouchers on their sites. They can also be trustlessly traded amongst users via the decentralised exchange without risk of hacks/forgery. Just a coupon marketplace alone could be a big thing, Gyft was fairly recently acquired for just shy of $100 million

If only an exchange would step up to vend fiat -> fiat represented CounterParty asset in a guarantor role, then you could store (and trade) USD, EUR, GBP, CNY etc on the CounterParty network, similar to ripple gateways, navigate to a site and pay out in the fiat currency with the payment invoice, all whilst retaining ownership of your own private keys and without being exposed to the volatility of BTC. Seems like the technology is in place but the regulatory work is the real headache.. massive potential with this technology though  

I like this idea but the guarantor role is problematic since you are still centralizing an important function. Look at what happened with Mintpal recently, which was I think one of the more respected exchanges. Anyone using the fiat tokens still runs the risk of the guarantor going bust.

I've been thinking a lot about how you could demonstrate that the guarantor keeps the cash on hand but it is a harder problem than it seems. Insurance would be prohibitively expensive, you could keep the cash reserves at a bank but again there is the issue of providing what you are holding at any given moment. Also if the guarantor has access to the bank accounts there is always a chance of malfeasance. Don’t get me wrong, I like the idea and I’m sure it can be implemented at some point but it is hard to come up with a business model that makes sense and could work.  

forget about fiat... i only use it because i can't buy food with bitcoins or some other crypto just yet.

[Anotheranonlol]

I like this idea but the guarantor role is problematic since you are still centralizing an important function. Look at what happened with Mintpal recently, which was I think one of the more respected exchanges. Anyone using the fiat tokens still runs the risk of the guarantor going bust.

I've been thinking a lot about how you could demonstrate that the guarantor keeps the cash on hand but it is a harder problem than it seems. Insurance would be prohibitively expensive, you could keep the cash reserves at a bank but again there is the issue of providing what you are holding at any given moment. Also if the guarantor has access to the bank accounts there is always a chance of malfeasance. Don’t get me wrong, I like the idea and I’m sure it can be implemented at some point but it is hard to come up with a business model that makes sense and could work.  

Exchanges can give you API's to display the funds stored on the account, they can also give you API to generate vouchers, I suppose someone could generate 1000 $1 vouchers or store 1000$ in their accountt and lock an asset on CounterParty to 1000 units with each unit representing a dollar and also demonstrate they control the exchange account storing the fiat. they could create an external portal where users send one of those $1 tokens back to themselves (the issuer) when they wished to cash out and $1 would be sent to their exchange account. Assuming the issuer had some sort of trust- perhaps an established WoT rating and the buyers also had enough confidence in the exchange to not go dark one day... Obviously that would be a really amateurish roundabout method. The only advantage their really would be ability to trade fiat-backed tokens in small batches on the dex rather than on centralised exchanges. Definitaly not suitable for anything bigger than a really small scale deployment

As an aside, anyone out there who could create a simple early temple - (https://earlytemple.com:8181/) style contracting scheme on CounterParty
Please PM .

[Jpja]

When you transfer a Counterparty Asset, you send a dust-amount of BTC as well.

Is it possible to transfer any amount (>= dust limit) of BTC in a Counterparty transaction?

For example, an electronics store sells a TV for 1 BTC. However, if you have a discount token, you'll get the TV for 0.9 BTC + 1 discount token. Can the 0.9 BTC + token be transferred in one transaction?

[Anotheranonlol]

Not sure if this any of these have been posted before, I had just noticed them browsing github

Auction platform that works with counterparty assets:

• http://auction.letstalkbitcoin.com/  source: https://github.com/deweller/auction-machine

Smart Contracting As A Service platform (alpha stage):

• http://etherparty.io source: https://github.com/etherparty/etherparty.io

Ruby gem for communicating with a Counterparty (Bitcoin / XCP) API server:

• source: https://github.com/brighton36/counterparty_ruby

When you transfer a Counterparty Asset, you send a dust-amount of BTC as well.

Is it possible to transfer any amount (>= dust limit) of BTC in a Counterparty transaction?

For example, an electronics store sells a TV for 1 BTC. However, if you have a discount token, you'll get the TV for 0.9 BTC + 1 discount token. Can the 0.9 BTC + token be transferred in one transaction?

usually you apply the discount at the shopping cart stage, the price is then recalculated at checkout, could be done that way but it's a little cumbersome. (Especially if the user doesn't pay in the end) I think it is possible though. see: https://wiki.counterparty.io/w/Sendmany
Maybe there has been some newer developments on that front though or a more appropriate way

[Jpja]

usually you apply the discount at the shopping cart stage, the price is then recalculated at checkout, could be done that way but it's a little cumbersome.

One way to implement a token-based discount is that whoever owns/holds a token gets the discount. Another way (that I had in mind) requires you to transfer it back to the store. In this case it is lot more convenient to transfer both BTC and Counterparty token in the same transaction.