[ANN] [XCH] ★ ClearingHouse - Freedom by Blockchain ★ - page 37.

jokumat

sr. member

Activity: 249

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Quote from: cmoffat on August 12, 2014, 04:19:28 PM

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?

Fees in XCH are not carved in stone forever, they can (and will) be repeatedly adjusted for XCH to be slightly deflationary in the future, that is all. You can have for example 0.1% decrease in supply of XCH each year and this can go on forever, geometrical sequence never ends.

Such a shortage of XCH as you desribe would be a real paradise for XCH owners. But there is no need to worry about this.

I am somewhat worried by another thing. If very many VIAs are sold this way and there is no limit, a large portion of VIA supply will be in control of one man (Drak), this is dangerous. Large concentration of ownership will undermine confidence in VIA on the market. VIA will be ridiculed by rival coins with (pretended) fair distribution and so on.

deadmanwalking

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Quote from: blaaaaacksuit on August 12, 2014, 04:34:39 PM

Quote from: cmoffat on August 12, 2014, 04:19:28 PM

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?

At that point the suns diameter would be about the size of the current orbit of mars so I think we have some time.

cmoffat asks a valid question. I'll wait for a real answer from btcdrak.

blaaaaacksuit

sr. member

Activity: 280

Merit: 250

Who cares?

Quote from: cmoffat on August 12, 2014, 04:19:28 PM

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?

At that point the suns diameter would be about the size of the current orbit of mars so I think we have some time.

toffoo

sr. member

Activity: 408

Merit: 261

After playing around with Counterparty for a few weeks I've found that one of the show-stopping failures of its design is the fact that after placing a buy order you must stay online until the orders match, with Counterwallet open for the BTCpay to go through. If the buyer's Counterwallet is no longer open, your sell order will match but the BTCpay will never happen, the match will expire, and your order may or may not be rematch with another order, or the same unfunded order again. This causes the market bid/ask to get crossed, and the orderbook to get stuffed with tons of fake bids that no one intends to fill.

Just curious if Clearwallet will suffer some from the same design flaw and if you have any strategy to alleviate it?

cmoffat

newbie

Activity: 10

Merit: 0

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?

kebabman

hero member

Activity: 655

Merit: 504

You wan chili saus?

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. Undecided

jokumat

sr. member

Activity: 249

Merit: 250

Quote from: kebabman on August 12, 2014, 12:59:20 PM

Quote from: kebabman on August 11, 2014, 09:12:20 PM

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. Sad

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.

jokumat

sr. member

Activity: 249

Merit: 250

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

sr. member

Activity: 249

Merit: 250

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.

blaaaaacksuit

sr. member

Activity: 280

Merit: 250

Who cares?

Quote from: timmyd on August 12, 2014, 02:32:05 PM

Quote from: blaaaaacksuit on August 12, 2014, 02:27:10 PM

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?

litecoin111

full member

Activity: 205

Merit: 100

Quote from: blaaaaacksuit on August 12, 2014, 03:02:39 PM

Quote from: deadmanwalking on August 12, 2014, 02:53:00 PM

Quote from: blaaaaacksuit on August 12, 2014, 02:27:10 PM

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

sr. member

Activity: 280

Merit: 250

Who cares?

Quote from: deadmanwalking on August 12, 2014, 02:53:00 PM

Quote from: blaaaaacksuit on August 12, 2014, 02:27:10 PM

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.

PilotofBTC

legendary

Activity: 1736

Merit: 1001

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.)

deadmanwalking

full member

Activity: 210

Merit: 100

Quote from: blaaaaacksuit on August 12, 2014, 02:27:10 PM

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.

timmyd

hero member

Activity: 714

Merit: 500

Quote from: blaaaaacksuit on August 12, 2014, 02:27:10 PM

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

timmyd

hero member

Activity: 714

Merit: 500

Quote from: btcdrak on August 12, 2014, 02:03:13 PM

CLEARWALLET TUTORIAL: VIDEO HERE

excellent video well presented and clear

blaaaaacksuit

sr. member

Activity: 280

Merit: 250

Who cares?

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?

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: btcdrak on August 12, 2014, 02:03:13 PM

CLEARWALLET TUTORIAL: VIDEO HERE

Thank you, that is indeed helpful.

btcdrak

legendary

Activity: 1064

Merit: 1000

CLEARWALLET TUTORIAL: VIDEO HERE

btcdrak

legendary

Activity: 1064

Merit: 1000

Quote from: PilotofBTC on August 12, 2014, 01:39:30 PM

Quote from: btcdrak on August 12, 2014, 01:27:27 PM

Quote from: PilotofBTC on August 12, 2014, 12:37:29 PM

Quote from: btcdrak on August 12, 2014, 12:09:37 PM

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).

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