Overstock and CounterParty....much news.

[knight22]

Counterparty is run over the bitcoin blockchain BTW

[jwiz168]

IMO, Overstock clearly did not go  through the bitcoin 2.0 models , readily available  today. Counterparty has no blockchain of its own. It only piggybacks on the blockchain of bitcoin. Very slow confirmation due to its high difficulty and high volume in mining . And the developers of bitcoin decided to change something on the blockchain it will affect the counterparty ecosystem . I have tried using counterparty platform. It was a disgusting experience because too high transaction fee and too slow confirmation due to bitcoin .

[Djinou94]

IMO, Overstock clearly did not go  through the bitcoin 2.0 models , readily available  today. Counterparty has no blockchain of its own. It only piggybacks on the blockchain of bitcoin. Very slow confirmation due to its high difficulty and high volume in mining . And the developers of bitcoin decided to change something on the blockchain it will affect the counterparty ecosystem . I have tried using counterparty platform. It was a disgusting experience because too high transaction fee and too slow confirmation due to bitcoin .

Yea that's right NxT is better

[jabo38]

I think nxt is better but I understand why he choose counterparty.

He is invested in Bitcoin so this is like doubling down and reinforcing his investment. Had he picked nxt then one of his investments would be in competition with another.

Nxt may or may not live. (Lots of other 2nd gen competitors and more coming) We just don't know yet, but Bitcoin had a large first mover advantage and is guaranteed to be around for a long time even if a 2nd gen is better.

And lastly, the counterparty platform is slow, but other wise it is much simpler to use and smoother looking too. No standalone program that takes an hour to download the blockchain (you just lost 99% of people there) needs to be updated and is filled with lots of features not needed to meet Bryne's needs. There is of course NXTs version of the CounterParty wallet called SecureAE but it runs into the same problem of being really slow and still isn't as polished as the counterparty wallet.

Again, from a crypto perspective I think nxt is better for a slew of reasons I can mention, but I understand why his interests didn't match the nxt platform.

[knight22]

He wants to use a system that have a better liquidity and stronger network effect not like NXT.

[jwiz168]

Bitcoin has a tendency to be a 51% attack victim. One of the reasons why several experts had suspected price manipulation with recent downtrend of bitcoin price. Some investors might still not see this as a reason to hedge over to another crypto assets.

[EvilDave]

Lets face it, the chances of Overstock choosing a platform that wasn't based on BTC were always pretty slim.
No matter how enthusiastic PB may be about 2nd gen crypto, there is still the little matter of convincing the rest of Overstocks board and shareholders to take a leap into the unknown. CounterParty would be the easiest system to sell to board+shareholders, it can be pitched as a simple step up from BTC.

And XCP is not a bad system, AFAIK, even though I will still maintain that NXT is better 

One other useful aspect of this news: one of my concerns about XCP was that their reliance on an external blockchain (ie BTC) could lead to serious issues if/when Bitcoin makes changes to their code. Having Overstock utilising XCP (or an XCP-based system) will give CounterParty a lot more weight when it comes to code changes and maintaining compatibilty of the BTC blockchain with XCP.

Still good news for all crypto, though, can't see a down side yet 

[prophetx]

woohooo


btw help with translating counterwallet into chinese

$342 Bounty (was 0.99 btc originally by the bounty service provider those some funky financial stuff, talking to them about it)

https://www.bountysource.com/issues/5153355-info-chinese-translation-bounty-100-xcp

[TechGen]

Please forgive my technical ignorance. I'm trying to learn more about counterparty. What exactly is the incentive for a company to issue shares through such a platform? I'm new to all of this but I have been trying to catch up. I was reading an article from bitcoin news source Coindesk about the announcement and I am just starting to understand how the issuance of shares would work, but why?

I've been following bitcoin for some time, however I am new to this whole community. I'm eager to learn more though, especially when it comes to platforms like counterparty.

Also, has anyone heard of clearinghouse? I believe it is tied in with another crypto currency other than bitcoin. The reason I am asking is because I have an acquaintance who works at a big online gaming company and he told me to look into counterparty to learn more. He says this company is looking to issue shares through either this service (clearhouse) or counterparty in a way that he said is similar to what overstock is doing. What is the difference between the two? All I took away from his explanation is that clearinghouse is faster?

[Matt Y]

Please forgive my technical ignorance. I'm trying to learn more about counterparty. What exactly is the incentive for a company to issue shares through such a platform? I'm new to all of this but I have been trying to catch up. I was reading an article from bitcoin news source Coindesk about the announcement and I am just starting to understand how the issuance of shares would work, but why?

I've been following bitcoin for some time, however I am new to this whole community. I'm eager to learn more though, especially when it comes to platforms like counterparty.

Also, has anyone heard of clearinghouse? I believe it is tied in with another crypto currency other than bitcoin. The reason I am asking is because I have an acquaintance who works at a big online gaming company and he told me to look into counterparty to learn more. He says this company is looking to issue shares through either this service (clearhouse) or counterparty in a way that he said is similar to what overstock is doing. What is the difference between the two? All I took away from his explanation is that clearinghouse is faster?

Hey,

Just post these questions in the main thread from now on, you're more likely to get answers there.

It will be much cheaper to issue shares through the blockchain. The estimate given at inside Bitcoins is that taking your company public will cost about 20% of what it costs to list on the NYSE. You will also save money when you issue dividends as the process is much easier than it would be in a traditional setting. Here is a video that shows the process: https://www.youtube.com/watch?v=eyzA5Lj1ajM

Clearinghouse is a clone of Counterparty and is not tied to Bitcoin. You will be better served using Counterparty in 99% of cases.

[TechGen]

Very helpful, thank you. Yes I found the main thread now I believe, still trying to figure this forum out.

[TechGen]

not sure why he chose slow-ass counterparty.

Just tried to buy some, and yes it sure is slow. 

I thought waiting 1-3 minutes on NXT was painful, but this is terrible. 

It is my guess that part of that work the devs will be doing on Mecidi has to be to make transactions really fast, like instant or this isn't going to work.  The could design some kind of mini-block chain that has one second block times and then after the transactions get sent to the Bitcoin blockchain and they are confirmed then the Mecidi side chain is pruned free of all the old bloat. 

This helps me understand why clearinghouse is actually better. Not trolling but true.