[ANN] [XCH] ★ ClearingHouse - Freedom by Blockchain ★

[andreibi]

Quick question. this may be stupid. I have VIA. Should I exchange for XCH or keep via or it doesn't matter as far as value is concerned. Are they both worth the same?

XCH is where the future lies but it is totally dependent on VIA. You can't make XCH transactions without paying the VIA fee.

[Loreerol]

Thans drei!

[trustme]

Still don't understand. Which is worth more? VIA or XCH..or are the worth the same?

[btcdrak]

XCH and VIA are two separate coins entirely. You need viacoins to pay the transaction fees for XCH or any ClearingHouse asset.
It's the same relationship of XCP (counterparty) and BTC. The price of XCP and BTC are quite independent of each other, just because you need BTC to pay the transaction fees is pretty meaningless in terms of pricing Viacoins.

You need to divorce the two systems in your mind. The Viacoin blockchain has it's own token (viacoin) and the ClearingHouse protocol has about 600 tokens, one of which is called XCH. ClearingHouse stores it's transaction history inside the Viacoin blockchain using viacoin transactions. Someone else could equally launch a similar system on top of the Viacoin blockchain, and if they did, again there would be no relationship financially to viacoin.

For reference: Viacoin = the protocol, viacoin = the token.

[btcdrak]

Still don't understand. Which is worth more? VIA or XCH..or are the worth the same?

Think of them as two separate coins. As it stands in terms of market capitalisation, Viacoin is higher. But if you are speculating about future value, that is a different thing.

[trustme]

ok...Thank you for that. I will convert some via to xch to spread it out then.

[btcdrak]

I was recently asked to make some bullet points for someone who wanted to do a presentation covering Viacoin and ClearingHouse. These are some short bullets:

Viacoin (the future of digital currency)
- Faster confirmation time (~24 seconds).
- Higher transaction capacity.
- Larger OP_RETURN space: 120 bytes (80 now, but next release increases to 120 bytes). This allows for metadata to be stored in the blockchain.
- Friendly to embedded consensus applications (unlike bitcoin who regard those uses as non-standard and 'spammy' and have been trying to block them c.f. counterparty/mastercoin).
- Extending the scripting language
  e.g. Pioneering CHECKLOCKTIMEVERIFY to allow payments to be unspendable until a certain time in the future.
- Pioneering treechains which will end mining centralisation and allow many offchain applications like micro payment channels and high frequency trading.

ClearingHouse (freedom by blockchain)
- Embedded consensus system called ClearingHouse based on Counterparty - got the same benefits and it's faster and developing more features (see below)
- Faster confirmation times make ClearingHouse much more usable
- Blockchain Notary (in beta on testnet currently) - stores cryptographic hashes using proof-of-publication against a viacoin address. they are owned by the address and can be transferred like viacoins to another address thus transferring ownership.
- CustodyChains (in development) - add proof of receipt/delivery. A real world item can be represented in the blockchain, owned and sent to another address, however the transfer doesnt complete unless the recipient signs for it.

As you can see, you cannot compare the two projects, they are two separate projects that just happen to be developed and maintained by the same team.

[blaaaaacksuit]

Do all assets in clearinghouse have to be traded against XCH?

[btcdrak]

Do all assets in clearinghouse have to be traded against XCH?

Nope, they can be traded against eachother, or VIA, and even an exchange like Bter could even trade them against other real world coins.

[blaaaaacksuit]

Do all assets in clearinghouse have to be traded against XCH?

Nope, they can be traded against eachother, or VIA, and even an exchange like Bter could even trade them against other real world coins.

I see, so currently the only purpose for XCH is creating trading pairs etc.  is this correct?

[btcdrak]

Do all assets in clearinghouse have to be traded against XCH?

Nope, they can be traded against eachother, or VIA, and even an exchange like Bter could even trade them against other real world coins.

I see, so currently the only purpose for XCH is creating trading pairs etc.  is this correct?

No. Too myopic.
XCH happens to be the fee currency for creating assets (which is actually an antispam measure), but it is also a digital token with all the properties of fungability, divisibility etc. you would expect.

[AnthonyWittgenstein]

I must say, Drak, that was a nice little touch inside of ClearWallet - your new banner that provides access to outside exchanges for XCH...Well done

It would be really cool if Mintpal-V2 eventually offers a XCH/BTC trading pair...I'm really excited to see their new platform!

[fox19891989]

BTER have added a XCH/BTC trading pair.

https://bter.com/trade/XCH_BTC

In case people want to do their sums, remember XCH was created with the following metrics:

Final totals: 103,837,396.51 XCH created for 1,087,511.79269591 VIA. The XCH supply is now permanently fixed.

So, that's 95 XCH = 1 Via.

or

1 XCH = .0105 VIA

or

1 XCH = 284 sat based on VIA at 25700sat.

Disclaimer, this may be wrong, and I did some slight rounding.

Of course, at this point there is no reason for the XCH/Via price ratio to remain at 95:1.

many ppl bought viacoin above 50k sat and converted into XCH, they have higher XCH price.

[fudge]

why my post was deleted? I'm compiaining about problems with clearwallet.co

[btcdrak]

why my post was deleted? I'm compiaining about problems with clearwallet.co

Because support is by PM - https://bitcointalk.org/index.php?topic=734674.msg8300525#msg8300525
I already wrote to you.

[15266]

BTER have added a XCH/BTC trading pair.

https://bter.com/trade/XCH_BTC

In case people want to do their sums, remember XCH was created with the following metrics:

Final totals: 103,837,396.51 XCH created for 1,087,511.79269591 VIA. The XCH supply is now permanently fixed.

So, that's 95 XCH = 1 Via.

or

1 XCH = .0105 VIA

or

1 XCH = 284 sat based on VIA at 25700sat.

Disclaimer, this may be wrong, and I did some slight rounding.

Of course, at this point there is no reason for the XCH/Via price ratio to remain at 95:1.

many ppl bought viacoin above 50k sat and converted into XCH, they have higher XCH price.

Indeed, this means I'm looking at quite a loss in value of my initital investment. Started to wonder long ago if this would ever pay off, guess not. No choice but holding now.

[jokumat]

Clearwallet (XCH/Via trade) seems to be working properly now. We can just look at the number of trades today and compare with earlier figures..

[btcdrak]

Clearwallet (XCH/Via trade) seems to be working properly now. We can just look at the number of trades today and compare with earlier figures..

Yes, I fixed it.

[toffoo]

Bter has XCH/BTC pair now.

Is this the first/only centralized exchange where it's trading or are there others?

[btcdrak]

Bter has XCH/BTC pair now.

Is this the first/only centralized exchange where it's trading or are there others?

Bter is the first. I am sure others will follow.