[ANN] [XCH] ★ ClearingHouse - Freedom by Blockchain ★ - page 40.

masternode

sr. member

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Quote from: JoeRigs on August 12, 2014, 02:14:50 AM

OK, I obviously don't understand something here...

I saw at Clearwallet that I had the ability to "send" my recently acquired XCH to my VIA wallet. ...So, I sent 500 XCH to see what happened.

I guess I expected to see a separate entry in the wallet showing 500 XCH. Instead, the wallet converted the 500 XCH to just .0012 VIAcoin.

I certainly didn't expect this "send" feature to reduce the 5 VIAcoin worth of XCH (5 via = 500 XCH) down to .0012 VIAcoin. Pretty glad I didn't send ALL of my XCH to my wallet. (A 99.98% devaluation is pretty harsh.)

Btcdrak is likely asleep right now. He should be able to answer this soon.

JoeRigs

newbie

Activity: 38

Merit: 0

OK, I obviously don't understand something here...

I saw at Clearwallet that I had the ability to "send" my recently acquired XCH to my VIA wallet. ...So, I sent 500 XCH to see what happened.

I guess I expected to see a separate entry in the wallet showing 500 XCH. Instead, the wallet converted the 500 XCH to just .0012 VIAcoin.

I certainly didn't expect this "send" feature to reduce the 5 VIAcoin worth of XCH (5 via = 500 XCH) down to .0012 VIAcoin. Pretty glad I didn't send ALL of my XCH to my wallet. (A 99.98% devaluation is pretty harsh.)

PhilippeStevens

full member

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Do we have to stay online for our actions to process ?

BTHECREATOR

member

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Merit: 10

Quote from: btcdrak on August 11, 2014, 02:31:57 PM

ClearingHouse is Here!

Today we unveil stage one of the ClearingHouse project as promised which enables decentralized, p2p trading directly on the blockchain. You can create your own coins and assets and it enables a host of features to be built on top of the blockchain.

ClearingHouse is based on on the counterparty protocol with the immediate advantages of being faster, cheaper and free of bitcoin politics.

XCH is the native currency of ClearingHouse and cannot be mined. XCH will be initialized during a 45 day "Fire Sale" starting today at block 89100 see http://explorer.viacoin.org. 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.

The exchange rate will be 100 XCH for 1 VIA and reducing slowly over the 45 day period until you get 85 XCH for 1 VIA.

XCH can only be initialized using viacoins and burn process must be done using https://clearwallet.co/

XCH as well as any other assets created under ClearingHouse are controlled by your viacoin private keys.

We suggest you familiarise yourself with the process using Testnet at https://testnet.clearwallet.co/

All the usual caveats apply: blockchain technologies, including bitcoin are still experimental and navigating uncharted territory, so please be sensible.

You can watch the burn address here: http://explorer.viacoin.org/address/Via2XCHoqQxACVuXf4vrajVDJetwVgxLMz

This is quite brilliant, really. Create a vehicle to use to buy back more VIA so you can regain control of your coin and pump it again.

provenceday

legendary

Activity: 1148

Merit: 1000

i remembered the old days that burn XCP.

great!

hope viacoin has a ecosystem in the near future.

kebabman

hero member

Activity: 655

Merit: 504

You wan chili saus?

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

masternode

sr. member

Activity: 443

Merit: 250

Quote from: kebabman on August 11, 2014, 09:52:26 PM

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

I just theoretically gave them back to you.

kebabman

hero member

Activity: 655

Merit: 504

You wan chili saus?

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

masternode

sr. member

Activity: 443

Merit: 250

Quote from: kebabman on August 11, 2014, 08:12:20 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

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

kebabman

hero member

Activity: 655

Merit: 504

You wan chili saus?

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

Coin_Viking

member

Activity: 111

Merit: 10

Quote from: Bitcycle on August 11, 2014, 07:19:51 PM

Quote from: Honeycutt22 on August 11, 2014, 06:06:07 PM

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.

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: Honeycutt22 on August 11, 2014, 06:06:07 PM

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.

provenceday

legendary

Activity: 1148

Merit: 1000

Quote from: BrokenRam on August 11, 2014, 07:03:25 PM

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.

litecoin111

full member

Activity: 205

Merit: 100

damn this confirms fast! Unreal

BrokenRam

newbie

Activity: 16

Merit: 0

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.

Coin_Viking

member

Activity: 111

Merit: 10

Quote from: ?? on ??

Quote from: Coin_Viking on August 11, 2014, 05:40:39 PM

Quote from: btcdrak on August 11, 2014, 05:15:48 PM

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.

provenceday

legendary

Activity: 1148

Merit: 1000

Quote from: Coin_Viking on August 11, 2014, 05:40:39 PM

Quote from: btcdrak on August 11, 2014, 05:15:48 PM

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.

Coinmin

sr. member

Activity: 483

Merit: 250

Quote from: ?? on ??

Quote from: Coin_Viking on August 11, 2014, 05:40:39 PM

Quote from: btcdrak on August 11, 2014, 05:15:48 PM

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.

Honeycutt22

sr. member

Activity: 280

Merit: 250

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

btcdrak

legendary

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Quote from: Bitcycle on August 11, 2014, 05:50:21 PM

Quote from: Coin_Viking on August 11, 2014, 05:40:39 PM

Quote from: btcdrak on August 11, 2014, 05:15:48 PM

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.

Topic: [ANN] [XCH] ★ ClearingHouse - Freedom by Blockchain ★ - page 40. (Read 119133 times)