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

[PilotofBTC]

Okay can someone please use retard speak to explain why I would want to invest my VIA into XCH rather than selling for a BTC profit?  How do I get money back out of XCH after the 45 day period?  What will VIA still be good for after the 45 Days?

XCH is needed to create colored coins in Clearinghouse. When XCH is used in this way it is burned so the number of XCH available will decrease. XCH will also be traded in clearing house, so you can trade them for Via (and probably other pairs as well).

Due to this it may be that XCH will be worth more Via than what you originally burned to acquire them.

XCH runs on the Via coin block chain, so Via is the underlying store of value and POW for XCH. So, Via will still have value and always at the least you will need 85 XCH to acquire 1 Via. XCH will "probably" trade on regular exchanges as well just XCP does.  So, Via/XCH has the same relationship as BTC/XCP does.

You might want to read about counterparty https://www.counterparty.co/about/ . The problem with counterparty is that the bitcoin devs are doing everything they can to stop this from working, since they consider it blockchain spam. Also, I think Clearinghouse, which it uses the counterparty protocol, has an advantage running on Via's blockchain due to the 24 second blocks, which makes all the CH trades run faster.

The main difference, which I'm not sure I love, is that the Via isn't actually being burned the way Bitcoin was to create counterparty.

[btcdrak]

BIP32 means it generates the same addresses every time. They have an index, so #1 will always be the same, address #2 will always be the same etc. It is therefor unnecessary to store private keys on the server.

Right, but where does it store how many PK's I have generated and the watch addresses I have added? If it isn't on the server I assume it is on the client, local storage perhaps?

Also, is anyone else getting invalid cert message on the clearwallet? I'm getting this in FireFox:

clearwallet.co uses an invalid security certificate. The certificate is not trusted because no issuer chain was provided. (Error code: sec_error_unknown_issuer)

Seems like your Firefox version is out of date. I have installed Comodo's intermediate certificate which should solve the issue for you. Please check and PM me if you still have problems.

[PilotofBTC]

BIP32 means it generates the same addresses every time. They have an index, so #1 will always be the same, address #2 will always be the same etc. It is therefor unnecessary to store private keys on the server.

Right, but where does it store how many PK's I have generated and the watch addresses I have added? If it isn't on the server I assume it is on the client, local storage perhaps?

Also, is anyone else getting invalid cert message on the clearwallet? I'm getting this in FireFox:

clearwallet.co uses an invalid security certificate. The certificate is not trusted because no issuer chain was provided. (Error code: sec_error_unknown_issuer)

Seems like your Firefox version is out of date. I have installed Comodo's intermediate certificate which should solve the issue for you. Please check and PM me if you still have problems.

I see. I am up to date. Firefox only includes root certs with it's installer.

I shouldn't have to install intermediate certs. Your server should send them. Please google this issue there are instruction to fix this for both IIS and Apache.

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Also, as far as I know, IE 10 & 11 do support Content-Security-Policy you just need to use the ms vendor prefix.

[CryptoClub]

lol ahhhhh dont no what to do change or keep.

keep some. exchange some 

I agree that makes the most sense, I went 50/50 just based on a hunch.

I think the platform will be successful, so in that case they should both go up in value... As XCH burning gets more expensive slowly over the 45 days - I figure now is the time to get my XCH.

[btcdrak]

BIP32 means it generates the same addresses every time. They have an index, so #1 will always be the same, address #2 will always be the same etc. It is therefor unnecessary to store private keys on the server.

Right, but where does it store how many PK's I have generated and the watch addresses I have added? If it isn't on the server I assume it is on the client, local storage perhaps?

Also, is anyone else getting invalid cert message on the clearwallet? I'm getting this in FireFox:

clearwallet.co uses an invalid security certificate. The certificate is not trusted because no issuer chain was provided. (Error code: sec_error_unknown_issuer)

Seems like your Firefox version is out of date. I have installed Comodo's intermediate certificate which should solve the issue for you. Please check and PM me if you still have problems.

I see. I am up to date. Firefox only includes root certs with it's installer.

I shouldn't have to install intermediate certs. Your server should send them. Please google this issue there are instruction to fix this for both IIS and Apache.

---

Also, as far as I know, IE 10 & 11 do support Content-Security-Policy you just need to use the ms vendor prefix.

Firefox works for me on two of my computers. But as I said, I already installed the intermediate root on the server so it should be fixed for you. (you'll need to open a new tab before trying).

[btcdrak]

CLEARWALLET TUTORIAL: VIDEO HERE

[Bitcycle]

CLEARWALLET TUTORIAL: VIDEO HERE

Thank you, that is indeed helpful.

[blaaaaacksuit]

Still don't really understand.  I get how to use clearwallet, it's clearinghouse itself that I would like to wrap my head around a bit more.  Whats the point of VIA in the future if XCH is whats going to be used to run clearinghouse?

[timmyd]

CLEARWALLET TUTORIAL: VIDEO HERE

excellent video well presented and clear

[timmyd]

Still don't really understand.  I get how to use clearwallet, it's clearinghouse itself that I would like to wrap my head around a bit more.  Whats the point of VIA in the future if XCH is whats going to be used to run clearinghouse?

the via blockchain is used therefore via is the vehicle for moving xch see the fee

[deadmanwalking]

Still don't really understand.  I get how to use clearwallet, it's clearinghouse itself that I would like to wrap my head around a bit more.  Whats the point of VIA in the future if XCH is whats going to be used to run clearinghouse?

Because XCH can only be purchased with VIA. There will be a fixed amount of XCH sold right now, if people want to buy in the future they will have to buy on the open market using VIA.

If people want to use blockchain services they must use XCH to do so.

If I'm wrong someone please correct me.

[PilotofBTC]

drak,

I created an asset on testnet called VIAVENTURES. Then I went to the market and entered a sell order of 10'000 VIAVENTURES for 10 VIA each. The order book shows total Via as .001. Isn't 10 * 10'000 actually 100'000? Did I do something wrong, or did I read it wrong?

I expected it to take more than 1 XCH to create an asset.

Also, it doesn't take any XCH to pay a distribution?

Finally, I couldn't do a distribution, got an error. Is this supposed to be working?

(BTW this was all on testnet.)

[blaaaaacksuit]

Still don't really understand.  I get how to use clearwallet, it's clearinghouse itself that I would like to wrap my head around a bit more.  Whats the point of VIA in the future if XCH is whats going to be used to run clearinghouse?

Because XCH can only be purchased with VIA. There will be a fixed amount of XCH sold right now, if people want to buy in the future they will have to buy on the open market using VIA.

If people want to use blockchain services they must use XCH to do so.

If I'm wrong someone please correct me.

I think you will be able to purchase XCH on the open market with whatever currency you desire to trade in.  I sort of understand but large chunks are still missing.  I'm trying to understand the implications of the whole thing too, what the future for it will look like and what clearinghouse is capable of.

[litecoin111]

Still don't really understand.  I get how to use clearwallet, it's clearinghouse itself that I would like to wrap my head around a bit more.  Whats the point of VIA in the future if XCH is whats going to be used to run clearinghouse?

Because XCH can only be purchased with VIA. There will be a fixed amount of XCH sold right now, if people want to buy in the future they will have to buy on the open market using VIA.

If people want to use blockchain services they must use XCH to do so.

If I'm wrong someone please correct me.

I think you will be able to purchase XCH on the open market with whatever currency you desire to trade in.  I sort of understand but large chunks are still missing.  I'm trying to understand the implications of the whole thing too, what the future for it will look like and what clearinghouse is capable of.

Agreed, it would be nice to understand more of the ins/outs of Clearinghouse. I understand you can issue and trade things within it kind of like NXT Asset exchange, other than that it's pretty fuzzy..

[blaaaaacksuit]

Still don't really understand.  I get how to use clearwallet, it's clearinghouse itself that I would like to wrap my head around a bit more.  Whats the point of VIA in the future if XCH is whats going to be used to run clearinghouse?

the via blockchain is used therefore via is the vehicle for moving xch see the fee

What will be the incentive for continued use of VIA though?

[jokumat]

I think at this moment it's a carbon copy of Counterparty and its counterwallet. Good they copied the last version, because previous version was really buggy. I did some trading on Counterwallet in the past. But there are still many problems there. I am afraid the same problems will be here. For example I don't understand why there must be so high fee (1%) for trading with BTC (and the same with VIA here). I think this and other things should be corrected in ClearingHouse/Via project.

I must admit there is a big advantage - fast confirmations. This really feels much much better.

Also I like Vias low transaction (miners) fees. This makes a lot of difference, because any action, including  cancelling orders requires to pay the transactioon fee.

[jokumat]

of course there is incentive to use via - all actions in ClearingHouse require payments of fees in VIA.  Via is is a fast and cheap payment instrument. Usefulness of XCH is much more limited. But XCH should be an easy instrument for trading on the ClearingHouse deentralized exchange.

[jokumat]

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.  

btcdrak any comment on this? The clearwallet VIA address is VgXFuderEt7ngnPdDrpEiMnumfmqfyQMC6 if that helps?

I think this is one of the typical Counterparty quirks. If you use BTC (and here Via) and your offer is to sell BTC (here Via) and buy some other asset - you have to pay 1% fee in bitcoins (here VIA). When you cancel your order you pay even slightly more  (transaction fee cca 0.36 mBTC, less in VIA I guess).

I f you use XCP (here XCH), the fees are much lower.

[kebabman]

So it's not like a regular exchange that you don't pay a fee until the order is executed? You pay a fee to create the order, then another fee to cancel an unexecuted order? Hmm.

[cmoffat]

Hi to everyone,

I have read this entire thread. also watched the video.

I have one question.

Is it just me or is the clearinghouse system flawed?

If I have understood everything correctly. First of all no more xch can be created ever after the 45 day viacoin exchange period. Yet everytime you do something within clearinghouse like for example create an asset or contract to do so requires the destruction/burn of one or more xch. This would eventually mean that the world would run out of xch, so then what?