... - page 21. | Bitcointalksearch.org

BitzMD

sr. member

Activity: 421

Merit: 250

Quote from: Bitye West on February 02, 2014, 08:54:07 PM

Quote from: BitzMD on February 02, 2014, 08:51:09 PM

Quote from: klee on February 02, 2014, 08:38:34 PM

Quote from: BitzMD on February 02, 2014, 08:37:45 PM

Getting offers

Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

ambitious

I'll sell you 800 XCP for 8 BTC

I'm willing to use escrow or do smaller increments to build some trust at first.

I'm getting better offers, thanks anyway

Bitye West

newbie

Activity: 56

Merit: 0

Quote from: BitzMD on February 02, 2014, 08:51:09 PM

Quote from: klee on February 02, 2014, 08:38:34 PM

Quote from: BitzMD on February 02, 2014, 08:37:45 PM

Getting offers

Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

ambitious

I'll sell you 800 XCP for 8 BTC

I'm willing to use escrow or do smaller increments to build some trust at first.

klee

legendary

Activity: 1498

Merit: 1000

Quote from: BitzMD on February 02, 2014, 08:51:09 PM

Quote from: klee on February 02, 2014, 08:38:34 PM

Quote from: BitzMD on February 02, 2014, 08:37:45 PM

Getting offers

Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

ambitious

always!

BitzMD

sr. member

Activity: 421

Merit: 250

Quote from: klee on February 02, 2014, 08:38:34 PM

Quote from: BitzMD on February 02, 2014, 08:37:45 PM

Getting offers

Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

ambitious

klee

legendary

Activity: 1498

Merit: 1000

Quote from: BitzMD on February 02, 2014, 08:37:45 PM

Getting offers

Will buy 2000 XCP for best offer

fast transaction from trusted trader

100btc

BitzMD

sr. member

Activity: 421

Merit: 250

Getting offers

Will buy 2000 XCP for best offer

fast transaction from trusted trader

peled1986

legendary

Activity: 882

Merit: 1002

Quote from: maphmatix on February 02, 2014, 08:18:50 PM

Quote from: gambitx on February 02, 2014, 05:28:07 PM

Just a warning to buyers: XCP burners (basically early adopters) have formed a cartel (chk xcp thread) and jacked up the price artificially by 10x-15x times. Please don't accept these prices as the coin is still a prototype and isn't worth that much yet. They are a greedy cartel

Sadly, yes, this is what appears to be happening, I like the idea behind Counterparty and was initially interested, until i did a quick workout of the maths and you're right, most burners got between 1000-1500 XCP per 1 BTC and are immediately looking to turn that round to selling you 100XCP per 1 BTC. I can understand a markup being added but not a 10-15x markup of their brand new XCP, looking to offload immediately making a massive profit. Please convince me otherwise.

market value is often different from IPO value (which has a fixed price) because the market takes into account future growth potential.
supply and demand will do their work.

Bitye West

newbie

Activity: 56

Merit: 0

Quote from: maphmatix on February 02, 2014, 08:18:50 PM

Quote from: gambitx on February 02, 2014, 05:28:07 PM

Just a warning to buyers: XCP burners (basically early adopters) have formed a cartel (chk xcp thread) and jacked up the price artificially by 10x-15x times. Please don't accept these prices as the coin is still a prototype and isn't worth that much yet. They are a greedy cartel

Sadly, yes, this is what appears to be happening, I like the idea behind Counterparty and was initially interested, until i did a quick workout of the maths and you're right, most burners got between 1000-1500 XCP per 1 BTC and are immediately looking to turn that round to selling you 100XCP per 1 BTC. I can understand a markup being added but not a 10-15x markup of their brand new XCP, looking to offload immediately making a massive profit. Please convince me otherwise.

It's impossible to form a cartel when 500+ people invested in XCP.

If .01 BTC/XCP is above market price, someone out of the 500+ people will undercut that price.

.01 BTC/XCP puts Counterparty market cap at 26,487 BTC

This is half the market cap of Mastercoin.
This puts Counterparty as the #10 crypto on http://coinmarketcap.com/
Right above ProtoShares and right below Quark.

This seems like a fair valuation given that Counterparty is the first crypto to implement a distributed exchange.

IamNotSure

hero member

Activity: 672

Merit: 500

Quote from: Bitye West on February 02, 2014, 08:13:34 PM

Quote from: PhantomPhreak on February 02, 2014, 08:11:48 PM

Counterparty trades actual bitcoins ('BTC') for XCP, and it has a much better order matching system.

Damn that's crazy.

Mastercoin is offering a 300 BTC bounty for such a feature, and it still isn't fully implemented.

PhantomPhreak = 2nd coming of Satoshi?

I will stay awake until I see the first Dex transaction with BTC. Don't wanna miss history.

Bitye West

newbie

Activity: 56

Merit: 0

Quote from: jimhsu on February 02, 2014, 07:55:24 PM

Install bitcoin, install the counterparty client, place an order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
--get-asset GET_ASSET --give-quantity GIVE_QUANTITY
--give-asset GIVE_ASSET --expiration EXPIRATION
[--fee_required FEE_REQUIRED]
[--fee_provided FEE_PROVIDED]

GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.

Submit, and wait for an order match. Then use btcpay to pay for the order.

There, completely trustless and decentralized.

So if I want to sell 800 XCP for 8 BTC I would place the following order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
--get-asset GET_ASSET --give-quantity GIVE_QUANTITY
--give-asset GIVE_ASSET --expiration EXPIRATION
[--fee_required FEE_REQUIRED]
[--fee_provided FEE_PROVIDED]

GET_QUANTITY is 8
GET_ASSET is BTC
GIVE_QUANTITY is 800
GIVE_ASSET is XCP

EXPIRATION is the actual block number I want it to expire at? example: 283905

What do I input for SOURCE, FEE_REQUIRED, AND FEE_PROVIDED?

maphmatix

newbie

Activity: 11

Merit: 0

Quote from: gambitx on February 02, 2014, 05:28:07 PM

Just a warning to buyers: XCP burners (basically early adopters) have formed a cartel (chk xcp thread) and jacked up the price artificially by 10x-15x times. Please don't accept these prices as the coin is still a prototype and isn't worth that much yet. They are a greedy cartel

Sadly, yes, this is what appears to be happening, I like the idea behind Counterparty and was initially interested, until i did a quick workout of the maths and you're right, most burners got between 1000-1500 XCP per 1 BTC and are immediately looking to turn that round to selling you 100XCP per 1 BTC. I can understand a markup being added but not a 10-15x markup of their brand new XCP, looking to offload immediately making a massive profit. Please convince me otherwise.

Bitye West

newbie

Activity: 56

Merit: 0

Quote from: PhantomPhreak on February 02, 2014, 08:11:48 PM

Quote from: Bitye West on February 02, 2014, 07:57:40 PM

Quote from: jimhsu on February 02, 2014, 07:55:24 PM

Install bitcoin, install the counterparty client, place an order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
--get-asset GET_ASSET --give-quantity GIVE_QUANTITY
--give-asset GIVE_ASSET --expiration EXPIRATION
[--fee_required FEE_REQUIRED]
[--fee_provided FEE_PROVIDED]

GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.

Submit, and wait for an order match. Then use btcpay to pay for the order.

There, completely trustless and decentralized.

The asset "BTC" is just an asset name though right?

These aren't actual Bitcoins you're buying then. You would be buying an asset named "BTC" in the Counterparty system?

Quote from: ?? on ??

Quote from: jimhsu on February 02, 2014, 07:55:24 PM

Install bitcoin, install the counterparty client, place an order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
--get-asset GET_ASSET --give-quantity GIVE_QUANTITY
--give-asset GIVE_ASSET --expiration EXPIRATION
[--fee_required FEE_REQUIRED]
[--fee_provided FEE_PROVIDED]

GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.

Submit, and wait for an order match. Then use btcpay to pay for the order.

There, completely trustless and decentralized.

You are just buying an asset named bitcoin. With the mastercoin implementation you are actually exchanging btc for msc.

So xcp has an asset exchange, not a Dex.

Counterparty trades actual bitcoins ('BTC') for XCP, and it has a much better order matching system.

Damn that's crazy.

Mastercoin is offering a 300 BTC bounty for such a feature, and it still isn't fully implemented.

PhantomPhreak = 2nd coming of Satoshi?

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: Bitye West on February 02, 2014, 07:57:40 PM

Quote from: jimhsu on February 02, 2014, 07:55:24 PM

Install bitcoin, install the counterparty client, place an order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
--get-asset GET_ASSET --give-quantity GIVE_QUANTITY
--give-asset GIVE_ASSET --expiration EXPIRATION
[--fee_required FEE_REQUIRED]
[--fee_provided FEE_PROVIDED]

GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.

Submit, and wait for an order match. Then use btcpay to pay for the order.

There, completely trustless and decentralized.

The asset "BTC" is just an asset name though right?

These aren't actual Bitcoins you're buying then. You would be buying an asset named "BTC" in the Counterparty system?

Quote from: ?? on ??

Quote from: jimhsu on February 02, 2014, 07:55:24 PM

Install bitcoin, install the counterparty client, place an order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
--get-asset GET_ASSET --give-quantity GIVE_QUANTITY
--give-asset GIVE_ASSET --expiration EXPIRATION
[--fee_required FEE_REQUIRED]
[--fee_provided FEE_PROVIDED]

GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.

Submit, and wait for an order match. Then use btcpay to pay for the order.

There, completely trustless and decentralized.

You are just buying an asset named bitcoin. With the mastercoin implementation you are actually exchanging btc for msc.

So xcp has an asset exchange, not a Dex.

Counterparty trades actual bitcoins ('BTC') for XCP, and it has a much better order matching system.

Bitye West

newbie

Activity: 56

Merit: 0

Quote from: jimhsu on February 02, 2014, 07:55:24 PM

Install bitcoin, install the counterparty client, place an order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
   --get-asset GET_ASSET --give-quantity GIVE_QUANTITY
   --give-asset GIVE_ASSET --expiration EXPIRATION
   [--fee_required FEE_REQUIRED]
   [--fee_provided FEE_PROVIDED]

GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.

Submit, and wait for an order match. Then use btcpay to pay for the order.

There, completely trustless and decentralized.

The asset "BTC" is just an asset name though right?

These aren't actual Bitcoins you're buying then. You would be buying an asset named "BTC" in the Counterparty system?

EDIT: nvm, you can actually directly trade BTC for XCP

jimhsu

sr. member

Activity: 364

Merit: 264

Install bitcoin, install the counterparty client, place an order:

C:\counterpartyd>python counterpartyd.py order
usage: counterpartyd order [-h] --from SOURCE --get-quantity GET_QUANTITY
--get-asset GET_ASSET --give-quantity GIVE_QUANTITY
--give-asset GIVE_ASSET --expiration EXPIRATION
[--fee_required FEE_REQUIRED]
[--fee_provided FEE_PROVIDED]

GET_ASSET would be XCP and GIVE_ASSET would be BTC if buying XCP. Expiration is in blocks.

Submit, and wait for an order match. Then use btcpay to pay for the order.

There, completely trustless and decentralized.

hoolio

sr. member

Activity: 273

Merit: 251

Selling 100 XCP - 5 BTC

IamNotSure

hero member

Activity: 672

Merit: 500

Quote from: jimhsu on February 02, 2014, 07:28:01 PM

Hi, one of the (early) testers

The decentralized exchange is, and has been, working for weeks now. http://www.blockscan.com/order_match.aspx

Ok, but how do you trade BTC/XCP pair without a third party/escrow. Do you still have to trust the issuer ? Is there an "issuer" for an XCP/BTC pair ?

Olano

newbie

Activity: 115

Merit: 0

Alot of people might lose money in the long run

jimhsu

sr. member

Activity: 364

Merit: 264

Quote from: ?? on ??

Quote from: kdrop22 on February 02, 2014, 07:16:32 PM

Quote from: ?? on ??

Is the Dex actually implemented and running bug free?

The Dex is actually implemented and running fine. There have been sample trades made on the exchanges. (There are some minor issues with rounding of numbers, e.g., 1.99999 vs 2.0, however the developers are working on it).

Hmm. I'm surprised. From the amount of finagling its taken the mastercoin dev's I had come to the conclusion that it was a rather complicated undertaking.

Hi, one of the (early) testers

The decentralized exchange is, and has been, working for weeks now. http://www.blockscan.com/order_match.aspx

Bitye West

newbie

Activity: 56

Merit: 0

Quote from: NWO on February 02, 2014, 07:15:28 PM

Lol. People selling their XCP for so cheap

I think my offer of 800 XCP for 8 BTC is fair market price.

.01 btc/xcp puts the XCP market cap at 26,487 BTC
http://blockscan.com/

26,487 BTC market cap puts Counterparty as the #10 crypto on http://coinmarketcap.com/

Right above Protoshares and right below Quark.

Topic: ... - page 21. (Read 36015 times)