[ANN] Swarm Fund 1.0 - [OFFLINE THREAD]

[illiki23]

I am unable to purchase swarmpre on counterwallet.co.

The user interface is buggy so not displaying correct prices, and I have been unable to get anything to go through.

We strongly recommend people acquire swarm coins through the instructions on our website. Counterwallet is under active development and does not work equally well for all use cases.

If they are under active development they really should be doing more testing than letting us waste our coins because of their bugs.  I cannot get anything to go through - supposedly a order for someone else just went through today at a higher value than my order, and mine has been sitting there since yesterday.

I will cancel my order and send to the swarmcorp address to get the swarmpre coins, but this is very frustrating because I am down several days of mining just on the fees involved.

[Vitalogy]

I am unable to purchase swarmpre on counterwallet.co.

The user interface is buggy so not displaying correct prices, and I have been unable to get anything to go through.

It is frustrating because this is going to be the third time I have to cancel and try again,  I have no idea what the going price is because of UI errors, and they are not going to reimburse me for 'order cancellation fees'.

I am about to forget about this whole thing as I cannot see a service that 'nickles and dimes' traders for placing and canceling order working out at all, although I understand right now it is necessary to reduce centralization.  What frustrates me is that it is not my fault, the UI is buggy and showing wrong prices, and I still get charged for cancelling and reordering.

Sorry to read that... and also happy to see that I'm not alone. The UI is so confusing, I have no idea where to go. When I think I've figured it, the transaction fail... and of course I'm losing BTC in fees.

[PhantomPhreak]

I am unable to purchase swarmpre on counterwallet.co.

The user interface is buggy so not displaying correct prices, and I have been unable to get anything to go through.

It is frustrating because this is going to be the third time I have to cancel and try again,  I have no idea what the going price is because of UI errors, and they are not going to reimburse me for 'order cancellation fees'.

I am about to forget about this whole thing as I cannot see a service that 'nickles and dimes' traders for placing and canceling order working out at all, although I understand right now it is necessary to reduce centralization.  What frustrates me is that it is not my fault, the UI is buggy and showing wrong prices, and I still get charged for cancelling and reordering.

Sorry to read that... and also happy to see that I'm not alone. The UI is so confusing, I have no idea where to go. When I think I've figured it, the transaction fail... and of course I'm losing BTC in fees.

We, Counterparty, do not collect any fees from your use of Counterwallet: the service is totally free to use. However, every Counterparty transaction is also Bitcoin transaction, so if you want to use Counterparty, then you have to pay Bitcoin miner fees to get the transactions in the blockchain. If you don't want to pay the $0.06 US it costs to cancel an order, then just set the expiration time for your orders to smaller values (say, 10 blocks).

[Vitalogy]

I am unable to purchase swarmpre on counterwallet.co.

The user interface is buggy so not displaying correct prices, and I have been unable to get anything to go through.

It is frustrating because this is going to be the third time I have to cancel and try again,  I have no idea what the going price is because of UI errors, and they are not going to reimburse me for 'order cancellation fees'.

I am about to forget about this whole thing as I cannot see a service that 'nickles and dimes' traders for placing and canceling order working out at all, although I understand right now it is necessary to reduce centralization.  What frustrates me is that it is not my fault, the UI is buggy and showing wrong prices, and I still get charged for cancelling and reordering.

Sorry to read that... and also happy to see that I'm not alone. The UI is so confusing, I have no idea where to go. When I think I've figured it, the transaction fail... and of course I'm losing BTC in fees.

We, Counterparty, do not collect any fees from your use of Counterwallet: the service is totally free to use. However, every Counterparty transaction is also Bitcoin transaction, so if you want to use Counterparty, then you have to pay Bitcoin miner fees to get the transactions in the blockchain. If you don't want to pay the $0.06 US it costs to cancel an order, then just set the expiration time for your orders to smaller values (say, 10 blocks).

Is there a tutorial somewhere that explain how to trade?

[fractastical]

My Q:

I bought some swarm yesterday per the instructions on swarm website. I don't see any swarm yet on my counterwallet. Furthermore, I don't quite know where to look for it in the event I have received it.  Does a new box get created next to the BTC and XCP boxes? Please help.

Sadly we've found some little bugs and are fixing them. Stay tuned.

[HeliKopterBen]

The vote went my way but i didn't get the chance to vote.  This was a holiday weekend for some folks.  Please allow ample time with the next vote.  Also, some sort of message about voting sent to investor's counterparty addresses would be nice if possible. 

This voting mechanism is far superior to any form of corporate voting in legacy markets because you have public cryptographic proof that the owner of the shares was the one who cast the vote, all the while maintaining privacy for those owners.  Once you iron out all the bugs the world will take notice. 

I am looking forward to a working product.

[fractastical]

I am looking forward to a working product.

Me too!

[illiki23]

We, Counterparty, do not collect any fees from your use of Counterwallet: the service is totally free to use. However, every Counterparty transaction is also Bitcoin transaction, so if you want to use Counterparty, then you have to pay Bitcoin miner fees to get the transactions in the blockchain. If you don't want to pay the $0.06 US it costs to cancel an order, then just set the expiration time for your orders to smaller values (say, 10 blocks).

I am not sure how the system works, but I am now down around 6$ placing and canceling 3 orders.  Is the rest coming from other fees?   I don't want to cancel any order, I want my order to go through.

[IamNotSure]

For those who are interested, you can buy SWARMPRE at discount rate (disclaimer : not mine) on counterparty DEX for 22.5 SWARMPRE/XCP

Here is the orderbook

Code:

22.5 SWARMPRE/XCP	500 XCP (1)	500 XCP
22 SWARMPRE/XCP	297.69733491 XCP (2)	797.6973 XCP
21.38630317 SWARMPRE/XCP	2 XCP (1)	799.6973 XCP
21.2 SWARMPRE/XCP	118.39029443 XCP (1)	918.0876 XCP
21.0202994 SWARMPRE/XCP	0.4 XCP (2)	918.4876 XCP
20 SWARMPRE/XCP	250 XCP (1)	1,168.4876 XCP
22.5 SWARMPRE/XCP	500 XCP (1)	500 XCP
22 SWARMPRE/XCP	297.69733491 XCP (2)	797.6973 XCP
21.38630317 SWARMPRE/XCP	2 XCP (1)	799.6973 XCP
21.2 SWARMPRE/XCP	118.39029443 XCP (1)	918.0876 XCP
21.0202994 SWARMPRE/XCP	0.4 XCP (2)	918.4876 XCP
20 SWARMPRE/XCP	250 XCP (1)	1,168.4876 XCP

Since you can buy XCP on poloniex or BTER for around 0.004, you can have 5625 SWARMPRE / BTC (actually a bit more since you can get XCP on those exchange for a bit less than 0.004)

To do this

1) Buy XCP on BTER/poloniex with BTC
2) Transfer them to one of your counterwallet address
3) In counterwallet tab Exchnage / Buy and Sell / Buy SWARMPRE + Sell XCP / Override Market Rate and type at least 22.5 (or check market rate type up to the price you are willing to pay and wait for you order to fill if you want to pay less)

Since this transaction doesn't involve BTC, it'll be automatic and you'll enjoy a immediate transaction.

[PhantomPhreak]

We, Counterparty, do not collect any fees from your use of Counterwallet: the service is totally free to use. However, every Counterparty transaction is also Bitcoin transaction, so if you want to use Counterparty, then you have to pay Bitcoin miner fees to get the transactions in the blockchain. If you don't want to pay the $0.06 US it costs to cancel an order, then just set the expiration time for your orders to smaller values (say, 10 blocks).

I am not sure how the system works, but I am now down around 6$ placing and canceling 3 orders.  Is the rest coming from other fees?   I don't want to cancel any order, I want my order to go through.

Orders involving selling BTC default to paying a 1% non-refundable fee to BTC miners, to prevent trolling of the order book.

[illiki23]

We, Counterparty, do not collect any fees from your use of Counterwallet: the service is totally free to use. However, every Counterparty transaction is also Bitcoin transaction, so if you want to use Counterparty, then you have to pay Bitcoin miner fees to get the transactions in the blockchain. If you don't want to pay the $0.06 US it costs to cancel an order, then just set the expiration time for your orders to smaller values (say, 10 blocks).

I am not sure how the system works, but I am now down around 6$ placing and canceling 3 orders.  Is the rest coming from other fees?   I don't want to cancel any order, I want my order to go through.

Orders involving selling BTC default to paying a 1% non-refundable fee to BTC miners, to prevent trolling of the order book.

Well, this does not involve trolling of the order book.  From what it sounds many people are having problems.  

I am very hesitant to put in another order because of how quickly it eats away at my balance, so what exactly can I put in to ensure I can actually purchase anything?  The buy and sell orders listed are completely meaningless, I have tried to match them and nothing went through - I also ordered a lot lower and let my order up and left it over night and nothing went through.  I have no idea where the real buy/sell wall is as the buy and sell orders listed overlap significantly.  (almost list the same range)

You really should remove that addition non-troll fee until you can fix your system, either that or do some unit testing with test assets before you even think of letting people waste real money on your buggy service.  Either that or find a way to reimburse people who are punished because of errors on your end.  

[Matt Y]

The easiest way is going to be buying XCP and using that to place your order. That will eliminate the 1% anti-trolling BTC fee.

[IamNotSure]

The easiest way is going to be buying XCP and using that to place your order. That will eliminate the 1% anti-trolling BTC fee.

This should be advertised directly in counterwallet... This XCP/BTC dex is hurting users who spent fees for nothing

[daviducsb]

I agree completely with the sentiment below. $20+ of mine was eaten up in the same fashion two weeks ago. I saw it as a cost of investing in a startup that has amazing potential but others will not be as forgiving and yet others will think you guys are scamming them, particularly since the exchange is for the time illiquid and complex. And I almost shied away, only continued to proceed because of PMs and yet more due diligence that most people who work full time may not have time to do.

First priority for the time being should be not to piss people off. Maybe cut the anti-trolling fee to a third of what it is now until the platform becomes more functional.

Thanks to Phantomfreak, Fractastical and others for being so responsive. Hopefully you can implement some changes based on the feedback you have gotten on here and via PM and if you can't, I'm sure people will appreciate the continued dialogue.

Keep up the hard work guys!

 

We, Counterparty, do not collect any fees from your use of Counterwallet: the service is totally free to use. However, every Counterparty transaction is also Bitcoin transaction, so if you want to use Counterparty, then you have to pay Bitcoin miner fees to get the transactions in the blockchain. If you don't want to pay the $0.06 US it costs to cancel an order, then just set the expiration time for your orders to smaller values (say, 10 blocks).

I am not sure how the system works, but I am now down around 6$ placing and canceling 3 orders.  Is the rest coming from other fees?   I don't want to cancel any order, I want my order to go through.

Orders involving selling BTC default to paying a 1% non-refundable fee to BTC miners, to prevent trolling of the order book.

Well, this does not involve trolling of the order book.  From what it sounds many people are having problems.  

I am very hesitant to put in another order because of how quickly it eats away at my balance, so what exactly can I put in to ensure I can actually purchase anything?  The buy and sell orders listed are completely meaningless, I have tried to match them and nothing went through - I also ordered a lot lower and let my order up and left it over night and nothing went through.  I have no idea where the real buy/sell wall is as the buy and sell orders listed overlap significantly.  (almost list the same range)

You really should remove that addition non-troll fee until you can fix your system, either that or do some unit testing with test assets before you even think of letting people waste real money on your buggy service.  Either that or find a way to reimburse people who are punished because of errors on your end.  

[Matt Y]

The easiest way is going to be buying XCP and using that to place your order. That will eliminate the 1% anti-trolling BTC fee.

This should be advertised directly in counterwallet... This XCP/BTC dex is hurting users who spent fees for nothing

+1

[baddw]

Definitely interested in this.  It's an intriguing idea.  Also good that it's pointing out some usability issues with Counterparty by getting real-world people to actually use it.

[starsandskies]

I've been following all the SWARM threads and am considering investing, but I can't find any info about what percentage of the one percent of coins launched on SWARM the holders of SWARMPRE will actually get.

The best I've found is "Our coin, SWARM, entitles all coin owners to a part of one percent of all future coins launched on our platform."

But a "part" of one percent, as we all know, could be extremely small. So have there been any actual numbers released?

[IamNotSure]

I've been following all the SWARM threads and am considering investing, but I can't find any info about what percentage of the one percent of coins launched on SWARM the holders of SWARMPRE will actually get.

The best I've found is "Our coin, SWARM, entitles all coin owners to a part of one percent of all future coins launched on our platform."

But a "part" of one percent, as we all know, could be extremely small. So have there been any actual numbers released?

IIRC, 24,000,000 SWARM will be divided proportionally between the SWARMPRE holders at the end of the fundraise (20th July)

If 4500 SWARMPRE are sold, every SWARMPRE will yield 1 SWARM. Currently (33% raised) 1 SWARMPRE will yield 3 SWARM

[fractastical]

I'm happy to note that all of the issues with counterpartyd and automatic vending have been resolved. Everyone who was waiting should have their swarm coins now. Thanks and have a good day.

[fractastical]

The vote went my way but i didn't get the chance to vote.  This was a holiday weekend for some folks.  Please allow ample time with the next vote.  Also, some sort of message about voting sent to investor's counterparty addresses would be nice if possible. 

Sadly we can't do messaging at the moment but that idea has been added to the critical feedback doc. Please make sure you register for the newsletter and goldticket.