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

[Coin_Viking]

XCH cannot be mined after the initialization phase so the issuance model is deflationary. XCH is a completely separate asset. The only relation to viacoins is that XCH lives in the viacoin blockchain. XCH and viacoins are fuel for the ClearingHouse ecosystem.

Good projects do not run themselves and good staff are expensive. I see no sense in destroying perfectly good coins when they can be put to good use. We are being completely transparent so you can make up your own mind.

I see, this makes sense now. I just wonder after the 45 days, who will want to buy viacoin on exchanges? Are there seperate plans for it down the road to continue its utility/value etc? Also as via is exchanged to xch will the via used be held for the 45 days or sold/recirculated? Wondering from a total xch created stanpoint. Im assuming these have all been considered and there are answers for all this in due time, apologies if I'm jumping the gun or my assumptions are completelly wrong.

Anyways, exciting developements.

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[blaaaaacksuit]

This is why there should be a proper whitepaper instead of some vague blog entries.

No one understands how this is supposed to work.

I'm going to make a presentation video in the next 24 hours.

+1111111111111111

[Bitcycle]

XCH cannot be mined after the initialization phase so the issuance model is deflationary. XCH is a completely separate asset. The only relation to viacoins is that XCH lives in the viacoin blockchain. XCH and viacoins are fuel for the ClearingHouse ecosystem.

Good projects do not run themselves and good staff are expensive. I see no sense in destroying perfectly good coins when they can be put to good use. We are being completely transparent so you can make up your own mind.

I see, this makes sense now. I just wonder after the 45 days, who will want to buy viacoin on exchanges? Are there seperate plans for it down the road to continue its utility/value etc? Also as via is exchanged to xch will the via used be held for the 45 days or sold/recirculated? Wondering from a total xch created stanpoint. Im assuming these have all been considered and there are answers for all this in due time, apologies if I'm jumping the gun or my assumptions are completelly wrong.

Anyways, exciting developements.

They must plan an ongoing exchange of VIA for XCH, with that remaining the only way to create XCH.

[masternode]

"This initialization process is called "burning", but since viacoins are new and shiny, we decided not to actually burn them, but use them towards funding the ClearingHouse project looking forward."

So, it should not be called "burning"... It is another IPO, no?

Hell if I know.. been following Via for a few weeks and still really have no clue.

Not enough information for me to make any decisions. Pure dumb luck on speculation right now.

Well the OP says the the coins won't be "burned" but instead used towards funding... meaning they will be sold off for BTC.. meaning it is not a "burning" process at all but yet another IPO...

Anybody else made a little uneasy by this? I thought it would be a true burn. I thought the dev got his dev fund from the first IPO...

I'm not uneasy about this at all, and trust me I hold a lot of VIA.  I bought this coin because I think it's the next generation of cryto (and these days everyone seems to claim this).  It has the potential to crush so many other coins (XCP, MSC, Stellar, etc.).  But is it reasonable for us to expect Btcdrak to do this on only a 600BTC raise??  Fuck no.  I want to see VIA give Ethereum a run for their money, and I truly believe it can.  However, Ethereum has raised $15M so far.  The beauty is Btcdrak and Viacoin are way ahead of the game, by months! and only off of 600BTC!  

I personally don't think it's even remotely possible to compete with well funded coins like Stellar or Ethereum with so little capital resources, which is why I'm fully behind the new raise for XCH.  It's a pretty easy choice in my mind.  Btcdrak has had flawless execution and this "burn" or IPO is no different.  He's doing exactly what he has to and keeping his eye on the prize in the long game.  I'm happily going to contribute becuase for VIA to really have the best chance of succeeding, Btcdrak will need to pull the best developers from everywhere over to this project.  This will cost money.  He's got the reputation, he's got the skills, he's shown execution, he's always two steps ahead, and he's got the momentum now.  I hope this raise pulls in well in the $ Millions for him to work with, and he makes even more scary good hires ala Peter Todd.  I can't wait to see the future of this coin.

Viacoin and XCH are a scrypt coin and an adaption of counterparty, respectively. Two things which already exist. My point being, are there any entirely new developments here (thus far) which require the amount of thought and work which warrants the amount of money that a project like ethereum is raising?

Like Provenceday said, that's why he brought Peter Todd on board, to research Tree Chains and address blockchain bloat issues.  

Btcdrak has consistently overdelivered in pretty much every way.  He doesn't hype or sell anything.  However, if his past performance will give us any kind of glimpse into the future, I don't doubt they will be announcing plenty of phenomenal developers as additions to the team after the next raise, just like he did with Peter Todd and Grynn San.  If you think he's raising more money and putting together such a strong team simply to work on a scrypt coin or adaptation of counterparty, then by all means don't invest.    

[btcdrak]

XCH cannot be mined after the initialization phase so the issuance model is deflationary. XCH is a completely separate asset. The only relation to viacoins is that XCH lives in the viacoin blockchain. XCH and viacoins are fuel for the ClearingHouse ecosystem.

Good projects do not run themselves and good staff are expensive. I see no sense in destroying perfectly good coins when they can be put to good use. We are being completely transparent so you can make up your own mind.

I see, this makes sense now. I just wonder after the 45 days, who will want to buy viacoin on exchanges? Are there seperate plans for it down the road to continue its utility/value etc? Also as via is exchanged to xch will the via used be held for the 45 days or sold/recirculated? Wondering from a total xch created stanpoint. Im assuming these have all been considered and there are answers for all this in due time, apologies if I'm jumping the gun or my assumptions are completelly wrong.

Anyways, exciting developements.

They must plan an ongoing exchange of VIA for XCH, with that remaining the only way to create XCH.

You can exchange immediately within clearwallet.co which is effectively a UI that reads and writes to the blockchain.

[Honeycutt22]

Seriously... My brain is THIS close to popping right now... lol

[Coinmin]

XCH cannot be mined after the initialization phase so the issuance model is deflationary. XCH is a completely separate asset. The only relation to viacoins is that XCH lives in the viacoin blockchain. XCH and viacoins are fuel for the ClearingHouse ecosystem.

Good projects do not run themselves and good staff are expensive. I see no sense in destroying perfectly good coins when they can be put to good use. We are being completely transparent so you can make up your own mind.

I see, this makes sense now. I just wonder after the 45 days, who will want to buy viacoin on exchanges? Are there seperate plans for it down the road to continue its utility/value etc? Also as via is exchanged to xch will the via used be held for the 45 days or sold/recirculated? Wondering from a total xch created stanpoint. Im assuming these have all been considered and there are answers for all this in due time, apologies if I'm jumping the gun or my assumptions are completelly wrong.

Anyways, exciting developements.

I dont follow. Does exchanging dollars for euros make dollars useless? But in any case Viacoin is required as it is the fee currency for all ClearingHouse transactions. XCH is required for asset issuance.

The relationship between Viacoin and ClearingHouse is quite significant. While ClearingHouse is a separate project, it's under Viacoin. There will never be a case, as with Bitcoin of upstream developers doing things to harm or neuter downstream projects. This is well documented between Bitcoin and Mastercoin/Counterparty for example.

This is just a stepping stone for us. First was to start a blockchain that would be metadata storage friendly. Secondly establish a meta protocol for decentralized exchange. In the coming months we'll be releasing more exciting stuff. Viacoin and ClearingHouse lay the foundations.

Can we hope that in the following projects will be easy to take snapshots of the balances and get new coins just for the available coins, without losing the existing coins, as does the PTS team? That will be great for people holding VIA & XCH.

[provenceday]

XCH cannot be mined after the initialization phase so the issuance model is deflationary. XCH is a completely separate asset. The only relation to viacoins is that XCH lives in the viacoin blockchain. XCH and viacoins are fuel for the ClearingHouse ecosystem.

Good projects do not run themselves and good staff are expensive. I see no sense in destroying perfectly good coins when they can be put to good use. We are being completely transparent so you can make up your own mind.

I see, this makes sense now. I just wonder after the 45 days, who will want to buy viacoin on exchanges? Are there seperate plans for it down the road to continue its utility/value etc? Also as via is exchanged to xch will the via used be held for the 45 days or sold/recirculated? Wondering from a total xch created stanpoint. Im assuming these have all been considered and there are answers for all this in due time, apologies if I'm jumping the gun or my assumptions are completelly wrong.

Anyways, exciting developements.

you can compare viacoin as bitcoin; XCH as XCP or mastercoin.

hopefully viacoin will have a viacoin ecosystem just like bitcoin.

[Coin_Viking]

XCH cannot be mined after the initialization phase so the issuance model is deflationary. XCH is a completely separate asset. The only relation to viacoins is that XCH lives in the viacoin blockchain. XCH and viacoins are fuel for the ClearingHouse ecosystem.

Good projects do not run themselves and good staff are expensive. I see no sense in destroying perfectly good coins when they can be put to good use. We are being completely transparent so you can make up your own mind.

I see, this makes sense now. I just wonder after the 45 days, who will want to buy viacoin on exchanges? Are there seperate plans for it down the road to continue its utility/value etc? Also as via is exchanged to xch will the via used be held for the 45 days or sold/recirculated? Wondering from a total xch created stanpoint. Im assuming these have all been considered and there are answers for all this in due time, apologies if I'm jumping the gun or my assumptions are completelly wrong.

Anyways, exciting developements.

I dont follow. Does exchanging dollars for euros make dollars useless? But in any case Viacoin is required as it is the fee currency for all ClearingHouse transactions. XCH is required for asset issuance.

The relationship between Viacoin and ClearingHouse is quite significant. While ClearingHouse is a separate project, it's under Viacoin. There will never be a case, as with Bitcoin of upstream developers doing things to harm or neuter downstream projects. This is well documented between Bitcoin and Mastercoin/Counterparty for example.

This is just a stepping stone for us. First was to start a blockchain that would be metadata storage friendly. Secondly establish a meta protocol for decentralized exchange. In the coming months we'll be releasing more exciting stuff. Viacoin and ClearingHouse lay the foundations.

You guys are doing great work, I just got mixed up in my understanding. My mistake. Excited for future developments and seeing Viacoin and Clearinghouse grow.

[BrokenRam]

Is the exchange functionality on the testnet https://testnet.clearwallet.co working?  If so, where can i report some of the issues i'm seeing?

Thanks.

[litecoin111]

damn this confirms fast! Unreal

[provenceday]

Is the exchange functionality on the testnet https://testnet.clearwallet.co working?  If so, where can i report some of the issues i'm seeing?

Thanks.

exchange may not working for testnet, but should wait for the confirmation from dev.

[Bitcycle]

Seriously... My brain is THIS close to popping right now... lol

It just needs to be explained more clearly, is all.  The explanation is scattered and in pieces.  If they can get it organized (hell, pay someone to write it up properly) I think it's not really all that complicated.

[Coin_Viking]

Seriously... My brain is THIS close to popping right now... lol

It just needs to be explained more clearly, is all.  The explanation is scattered and in pieces.  If they can get it organized (hell, pay someone to write it up properly) I think it's not really all that complicated.

After thinking about it, its very clear. I'm sure people will get it, the OP spells it out.

starting today, 1 via for 100 xch, which will decrease over time to end up at 1/80. after 45 days xch creation is done. no more can be created after that point. viacoin keeps trucking along and remains the base of clearinghouse with its pow & fees. xch can then be used for issuing contracts etc. The via exchanged for xch doesnt fall into the void, it goes to fund future developments etc.

[kebabman]

Hmm, so there was a sell order on https://clearwallet.co/ for 5000XCH @ 0.0857VIA so I put in a bid for 200VIA (2333.72228705XCH), the moment I did it the sell order disappeared leaving my buy order hanging, I cancel the buy order and I've lost 2.01VIA in fees on an unexecuted order! That's not so cool. 

[masternode]

Hmm, so there was a sell order on https://clearwallet.co/ for 5000XCH @ 0.0857VIA so I put in a bid for 200VIA (2333.72228705XCH), the moment I did it the sell order disappeared leaving my buy order hanging, I cancel the buy order and I've lost 2.01VIA in fees on an unexecuted order! That's not so cool.  

There are going to be some bugs in the beginning, in theory that's partially why there is a bonus at the start.

[kebabman]

Yeah that's nice, can I have my 2VIA back please?

[masternode]

Yeah that's nice, can I have my 2VIA back please?

I just theoretically gave them back to you.

[kebabman]

huh? These were real coins, it wasn't on testnet.

[provenceday]

i remembered the old days that burn XCP.

great!

hope viacoin has a ecosystem in the near future.