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Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 127. (Read 1276789 times)

legendary
Activity: 924
Merit: 1000
is it possible to block masterxchange's wallet on Counterparty network ?
Counterparty assets are trapped there
Requested withdrawal 3 days ago (a lot more than 48 hours) and got nothing
no answer from their support

yet another reason to use decentralized exchange...

Never had any problems with masterxchange and usually all withdrawals take less than 24 hours.. never more than 48 hours.  

Did you try to cancel your pending process and withdraw again ?

i also never had problem with withdrawals in the past, usually took less than 48 hours.
but support email won't even answer emails

edit: btw i was not trying to arbitrage or anything .requested an Asset withdrawal long before it was added in another exchange..  (reqruested withdraw 1/14.. )
should at least warn everybody about this
and look if their wallet moves assets to sell them.


this is masterxchange's Counterparty wallet http://blockscan.com/address?q=1XCPvihttZTyc1uJf3tx4ht9RLsajwxhH
so i'm not the only one waiting for withdrawals for so long (>3 days now)
newbie
Activity: 35
Merit: 0
Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?

Like Matt said the XCP fees used in computation of smart contracts aren't constant values as they are in ethereum (like 1 XCP no matter what), but fractions of the total supply of XCP. Moreover XCP is divisible, So just as an example:

if there were only 1 XCP available a smart contract might cost 0.000001 XCP to run (and everyone would own fractions of a single XCP). Whereas if there were 1,000,000 XCP available a smart contract might cost 1 XCP to run.  In both cases the amount of XCP in relation to the total supply, and roughly dollar worth of the XCP spent on running a contract could (and usually would be expected) to be the same, since In an efficient market you'd expect the opportunity cost of spending XCP to execute a smart contract would remain competitive.  Nobody is going to spend $500 equivalent in XCP to run a smart contract that embeds a hash in the blockchain

So as more and more contracts are running, it will be possible to run more and more with 1 XCP as time goes on?
hero member
Activity: 588
Merit: 504
Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?

Like Matt said the XCP fees used in computation of smart contracts aren't constant values as they are in ethereum (like 1 XCP no matter what), but fractions of the total supply of XCP. Moreover XCP is divisible, So just as an example:

if there were only 1 XCP available a smart contract might cost 0.000001 XCP to run (and everyone would own fractions of a single XCP). Whereas if there were 1,000,000 XCP available a smart contract might cost 1 XCP to run.  In both cases the amount of XCP in relation to the total supply, and roughly dollar worth of the XCP spent on running a contract could (and usually would be expected) to be the same, since In an efficient market you'd expect the opportunity cost of spending XCP to execute a smart contract would remain competitive.  Nobody is going to spend $500 equivalent in XCP to run a smart contract that embeds a hash in the blockchain
hero member
Activity: 647
Merit: 510
Counterpartying
Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?

They are infinitely divisible and the rate at which XCP is burned in order to fuel the contracts is floating. While we will never run out, XCP is probably going to be fairly deflationary.
newbie
Activity: 35
Merit: 0
Sorry if this is a stupid question, but if XCP are destroyed when being used for smart contracts and there are only 2.6 million. How will everyone be able to buy enough to run the contracts?
legendary
Activity: 1106
Merit: 1026
Just looking for a clean way to tie a customers personal delivery address (without making it public) to their redeemed counterparty vouchers eliminating the risk of anyone gaming it somehow. The only alternative to something like message signing that I can immediately think of would be to take it on trust people are making valid claims to addresses that they can publicly see on the Blockchain, which I don't thinks feasible.

This sounds similar to a regular BTC purchase. Maybe you could create a new receiving address for each customer and the process would be the other way around: a) customer provides delivery address, b) shop (...) reveales unqiue destination to send the voucher to, c) customer sends voucher.
legendary
Activity: 2898
Merit: 1017
is it possible to block masterxchange's wallet on Counterparty network ?
Counterparty assets are trapped there
Requested withdrawal 3 days ago (a lot more than 48 hours) and got nothing
no answer from their support

yet another reason to use decentralized exchange...

Never had any problems with masterxchange and usually all withdrawals take less than 24 hours.. never more than 48 hours. 

Did you try to cancel your pending process and withdraw again ?
sr. member
Activity: 432
Merit: 250
is it possible to block masterxchange's wallet on Counterparty network ?

Counterparty network = Bitcoin network.

It's impossible to block or restrict access for anyone. If you have internet, you can always use the Bitcoin network.
legendary
Activity: 1235
Merit: 1003
https://minepi.com/cryptomeneer
Hi Guys, just arrived here and very excited that i have found this project Smiley Well done getting it to where you have awesome project!

Question on smartcontracts please, is it already possible to create a smart contract within counterparty now? I have only just got a wallet and cannot seem to find how  Undecided

Or is it a work in progress?

Thanks

They are live on testnet now and will be live on mainnet around March.

Do i understand good that counterparty will implanting smart contracts?
(didn't read the page history in this thread)

right understanding Smiley

Okay thanks for the information.  Cheesy

hero member
Activity: 732
Merit: 500
Hi Guys, just arrived here and very excited that i have found this project Smiley Well done getting it to where you have awesome project!

Question on smartcontracts please, is it already possible to create a smart contract within counterparty now? I have only just got a wallet and cannot seem to find how  Undecided

Or is it a work in progress?

Thanks

They are live on testnet now and will be live on mainnet around March.

Do i understand good that counterparty will implanting smart contracts?
(didn't read the page history in this thread)

right understanding Smiley
legendary
Activity: 1235
Merit: 1003
https://minepi.com/cryptomeneer
Hi Guys, just arrived here and very excited that i have found this project Smiley Well done getting it to where you have awesome project!

Question on smartcontracts please, is it already possible to create a smart contract within counterparty now? I have only just got a wallet and cannot seem to find how  Undecided

Or is it a work in progress?

Thanks

They are live on testnet now and will be live on mainnet around March.

Do i understand good that counterparty will implanting smart contracts?
(didn't read the page history in this thread)
hero member
Activity: 647
Merit: 510
Counterpartying
Hi Guys, just arrived here and very excited that i have found this project Smiley Well done getting it to where you have awesome project!

Question on smartcontracts please, is it already possible to create a smart contract within counterparty now? I have only just got a wallet and cannot seem to find how  Undecided

Or is it a work in progress?

Thanks

They are live on testnet now and will be live on mainnet around March.
full member
Activity: 168
Merit: 100
Hi Guys, just arrived here and very excited that i have found this project Smiley Well done getting it to where you have awesome project!

Question on smartcontracts please, is it already possible to create a smart contract within counterparty now? I have only just got a wallet and cannot seem to find how  Undecided

Or is it a work in progress?

Thanks
legendary
Activity: 924
Merit: 1000
is it possible to block masterxchange's wallet on Counterparty network ?
Counterparty assets are trapped there
Requested withdrawal 3 days ago (a lot more than 48 hours) and got nothing
no answer from their support

yet another reason to use decentralized exchange...
sr. member
Activity: 432
Merit: 250
Any updates about Medici project would be very welcome... if its possible Roll Eyes

This is all that has been said so far:

Yes, the situation is unclear---sorry, we just can't say much at the moment. There'll be some relevant (positive) announcements very soon, though! Suffice it to say that Evan, Robby and I will all be working on Counterparty for the forseeable future.
sr. member
Activity: 371
Merit: 250
Any updates about Medici project would be very welcome... if its possible Roll Eyes
hero member
Activity: 732
Merit: 500
nice to see all theese active XCP news Smiley
full member
Activity: 121
Merit: 100
Counterparty General Manager
Friday dev Update is live: Counterparty Development Update #11: Separating counterpartyd, Improved Dependency Management & More http://counterparty.io/news/counterparty-development-update-11/
hero member
Activity: 714
Merit: 502
Hoping someone can help answer a quickie as don't have any bitcoin or XCP to test this out

I want to use Counterparty as a voucher system for a kickstarter reward on a project I'm working on, but to prevent fraud and enable administration of delivery on redeemed vouchers I was hoping a message could be sent along with the transmission of assets?

Could I do this with the sign message or sign transaction feature I can see in Counterparty's online wallet?

-Customer registers their voucher (counterparty) address, along with delivery address on my site and are given a security pin.
-Customer redeems voucher by sending to my counterparty address along with the security pin they got on registration as a signed message, confirming ownership of the token relating to that shipping address.

I might be missing the point of what a signed message or transaction is so would appreciate clarification. Cheers  Smiley


Unfortunately, you cannot send a message/text along with a transaction.

The recommended way is to setup unique addresses for each of these transactions and get the clients to send the token to those uniquely assigned addresses.

The message signing is more for things like verifying "address" ownership

Cheers

Thanks

The message signing would be necessary for the "registration" part of the process.  After that, a PIN is unnecessary.

*Customer creates Counterwallet
*You generate a specifically formatted message to be signed by customer: "I am John Smith, my Kickstarter account email address is [email protected], I live at 1111 Main St., Anytown, USA, and I backed Chang Hum's Kickstarter at XXX level"
*Customer signs that message with Counterwallet, thereby proving their ownership of 1XXXX Counterparty address.
*You verify the message and store the address alongside their other account info.
*You send the token(s) via Counterparty to registered addresses.
*When you receive token(s) back, you identify the owner of the 1XXXX address and send them their rewards.

It's kind of a Rube Goldberg machine, so you'd want to have a good reason for doing it this way other than novelty.


Thanks for the reply, was hoping I could do something along these lines it's pretty much what I'm looking for. I understand it might seem a bit long winded but the reason for doing it this is way is I can offer a really good value proposition with tokens as I'll propose the moneys to be used for a youtube marketing campaign that depending on it's level of success will feed back increasing the value of the tokens relative to my product. Also an interesting reward that can be set to any level rather than giving away t-shirts or tat for lower tier rewards.

I want to use Counterparty as a voucher system for a kickstarter reward on a project I'm working on, but to prevent fraud and enable administration of delivery on redeemed vouchers I was hoping a message could be sent along with the transmission of assets?

Can you go into detail what you intend to do? "Prevent fraud" and "enable administration of delivery" is a bit vague, at least for me. Maybe there is another route than pushing messages along redemption.

Just looking for a clean way to tie a customers personal delivery address (without making it public) to their redeemed counterparty vouchers eliminating the risk of anyone gaming it somehow. The only alternative to something like message signing that I can immediately think of would be to take it on trust people are making valid claims to addresses that they can publicly see on the Blockchain, which I don't thinks feasible.


Won't something like your own http://pay.blockscan.com/ demo work?

--Customer registers their voucher (counterparty) address, along with delivery address on site and are given a security pin.
--Customer redeems voucher by completing invoice on site.

You would already have knowledge of the customer by their receiving BTC/CounterParty address. I'm assuming this is a once time use voucher entitling perks or discounts. Once the voucher is redeemed to issuer, it can't be re-used nor lent out, it's difficult to steal, and alone the token is a stronger authentication than a security pin, what's the requirement of a PIN?

Was thinking of a pin just as a way to confirm delivery address really belongs to counterparty address holder, but was really just my first thoughts and wanted to throw it out to the community to see what you guys thought. The problem here might not be Kickstarter actually as kickstarters paid in cash but might be a problem on bitcointalk as:

On Kickstarter

-customer pays in cash on Kickstarter
-customers instructed to register delivery address and Bitcoin (as yet unknown on the blockchain relating to the crowdfund) address on my site.

seems fairly clean?

On Bitcointalk

-customer pays in Bitcoin revealing an address associated with the crowdsale on the blockchain

^ so this is the issue I'm concerned about:
a) I want peoples delivery address without making them public (hence the pin idea)
b) When they register the delivery address, I need some sort of signed message to prove the registrant is the owner of that Bitcoin address, rather than someone who's just been looking at the ledger and trying to register addresses that sent into the crowdfunding address.

sr. member
Activity: 432
Merit: 250
The entire thing could definitely be done using smart contracts. But at the moment, it's a bit tricky.
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