...

[maphmatix]

Just a warning to buyers: XCP burners (basically early adopters) have formed a cartel (chk xcp thread) and jacked up the price artificially by 10x-15x times. Please don't accept these prices as the coin is still a prototype and isn't worth that much yet. They are a greedy cartel

Sadly, yes, this is what appears to be happening, I like the idea behind Counterparty and was initially interested, until i did a quick workout of the maths and you're right, most burners got between 1000-1500 XCP per 1 BTC and are immediately looking to turn that round to selling you 100XCP per 1 BTC. I can understand a markup being added but not a 10-15x markup of their brand new XCP, looking to offload immediately making a massive profit. Please convince me otherwise.

[Bitye West]

Install bitcoin, install the counterparty client, place an order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
                           --get-asset GET_ASSET --give-quantity GIVE_QUANTITY
                           --give-asset GIVE_ASSET --expiration EXPIRATION
                           [--fee_required FEE_REQUIRED]
                           [--fee_provided FEE_PROVIDED]

GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.

Submit, and wait for an order match. Then use btcpay to pay for the order.

There, completely trustless and decentralized.

So if I want to sell 800 XCP for 8 BTC I would place the following order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
                           --get-asset GET_ASSET --give-quantity GIVE_QUANTITY
                           --give-asset GIVE_ASSET --expiration EXPIRATION
                           [--fee_required FEE_REQUIRED]
                           [--fee_provided FEE_PROVIDED]

GET_QUANTITY is 8
GET_ASSET is BTC
GIVE_QUANTITY is 800
GIVE_ASSET is XCP

EXPIRATION is the actual block number I want it to expire at? example: 283905

What do I input for SOURCE, FEE_REQUIRED, AND FEE_PROVIDED?

[IamNotSure]

Counterparty trades actual bitcoins ('BTC') for XCP, and it has a much better order matching system.

Damn that's crazy.

Mastercoin is offering a 300 BTC bounty for such a feature, and it still isn't fully implemented.

PhantomPhreak = 2nd coming of Satoshi?

I will stay awake until I see the first Dex transaction with BTC. Don't wanna miss history.

[Bitye West]

Just a warning to buyers: XCP burners (basically early adopters) have formed a cartel (chk xcp thread) and jacked up the price artificially by 10x-15x times. Please don't accept these prices as the coin is still a prototype and isn't worth that much yet. They are a greedy cartel

Sadly, yes, this is what appears to be happening, I like the idea behind Counterparty and was initially interested, until i did a quick workout of the maths and you're right, most burners got between 1000-1500 XCP per 1 BTC and are immediately looking to turn that round to selling you 100XCP per 1 BTC. I can understand a markup being added but not a 10-15x markup of their brand new XCP, looking to offload immediately making a massive profit. Please convince me otherwise.

It's impossible to form a cartel when 500+ people invested in XCP.

If .01 BTC/XCP is above market price, someone out of the 500+ people will undercut that price.

.01 BTC/XCP puts Counterparty market cap at 26,487 BTC

This is half the market cap of Mastercoin.
This puts Counterparty as the #10 crypto on http://coinmarketcap.com/
Right above ProtoShares and right below Quark.

This seems like a fair valuation given that Counterparty is the first crypto to implement a distributed exchange.

[peled1986]

Just a warning to buyers: XCP burners (basically early adopters) have formed a cartel (chk xcp thread) and jacked up the price artificially by 10x-15x times. Please don't accept these prices as the coin is still a prototype and isn't worth that much yet. They are a greedy cartel

Sadly, yes, this is what appears to be happening, I like the idea behind Counterparty and was initially interested, until i did a quick workout of the maths and you're right, most burners got between 1000-1500 XCP per 1 BTC and are immediately looking to turn that round to selling you 100XCP per 1 BTC. I can understand a markup being added but not a 10-15x markup of their brand new XCP, looking to offload immediately making a massive profit. Please convince me otherwise.

market value is often different from IPO value (which has a fixed price) because the market takes into account future growth potential.
supply and demand will do their work.

[BitzMD]

Getting offers


Will buy 2000 XCP for best offer

fast transaction from trusted trader

[klee]

Getting offers


Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

[BitzMD]

Getting offers


Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

ambitious

[klee]

Getting offers


Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

ambitious

always! 

[Bitye West]

Getting offers


Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

ambitious

I'll sell you 800 XCP for 8 BTC

I'm willing to use escrow or do smaller increments to build some trust at first.

[BitzMD]

Getting offers


Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

ambitious

I'll sell you 800 XCP for 8 BTC

I'm willing to use escrow or do smaller increments to build some trust at first.

I'm getting better offers, thanks anyway

[Dogmygod]

10 minutes after closing people want 10-15x haha... ponzi scheme much  . Crypto is freaking crazy, just don't want to be left holding the worthless currency.

[Bitye West]

10 minutes after closing people want 10-15x haha... ponzi scheme much  . Crypto is freaking crazy, just don't want to be left holding the worthless currency.

The price of .001 BTC/XCP at the very end of burn put the market cap at 2648 BTC

This put Counterparty at #25 on http://coinmarketcap.com/

2648 BTC market cap is way too low for a protocol with the first functioning distributed exchange.

2648 BTC market cap was below much less innovative coins such as Kittehcoin or Tickets.

It was obvious that there was nowhere for the price to go but up 2x, 4x, etc.

I'm regretting being conservative and only burning less than 10btc.

2 weeks into the burn, I was estimating that we would see at least 5000 btc burnt.  The total amount burned (2124 BTC) wound up being much lower than I expected.

[IamNotSure]

2648 BTC market cap is way too low for a protocol with the first functioning distributed exchange.

2648 BTC market cap was below much less innovative coins such as Kittehcoin or Tickets.

THIS

[kdrop22]

Is the Dex actually implemented and running bug free?

The Dex is actually implemented and running fine. There have been sample trades made on the exchanges. (There are some minor issues with rounding of numbers, e.g., 1.99999 vs 2.0, however the developers are working on it).

Hmm. I'm surprised. From the amount of finagling its taken the mastercoin dev's I had come to the conclusion that it was a rather complicated undertaking.

Hi, one of the (early) testers

The decentralized exchange is, and has been, working for weeks now. http://www.blockscan.com/order_match.aspx

So I can trade btc/xcp and vice versa? Why are we using a forum thread to trade?

Yes, you can trade BTC/XCP via the decentralized exchange on Counterparty. However, it is only command line based for now. (The GUI will be out on the 14th).

[StarenseN]

following

[halfcab123]

Yeah like I said if you think that XCP should sell for anything less than 0.005 BTC per XCP you need to do some reading.

[jl777]

Yeah like I said if you think that XCP should sell for anything less than 0.005 BTC per XCP you need to do some reading.

Frankly I see 0.02 in no time. Theres no reason why xcp market cap shouldnt be up there with the other top 10. 45 mil is reasonable.

Price inside counterparty is now .013 btc
Seems like no more sellers at .01 btc
.02 btc is roughly mastercoin parity
Does mastercoin have betting or dividends?
How important can making bets on the internet be? Oh. I guess maybe a lot!

[jl777]

Yeah like I said if you think that XCP should sell for anything less than 0.005 BTC per XCP you need to do some reading.

Frankly I see 0.02 in no time. Theres no reason why xcp market cap shouldnt be up there with the other top 10. 45 mil is reasonable.

Price inside counterparty is now .013 btc
Seems like no more sellers at .01 btc
.02 btc is roughly mastercoin parity
Does mastercoin have betting or dividends?
How important can making bets on the internet be? Oh. I guess maybe a lot!

Im seeing it being quoted as 0.0013...

my bad, I missed a zero
I wonder how much can still be purchased at such prices.
I need to get it running on my mac notebook!

[ddink7]

How do you sell XCP without using counterpartyd?