Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 148. (Read 1276789 times)

If the dividends are paid in BTC, then there is no XCP dividend fee.

Here is a more thorough look at the utility of XCP:


See here for related discussion - https://forums.counterparty.io/discussion/701/xcp-price-speculation.

finally someone one this thread that has a bit of sense and knows what he is talking about

you can also add:

ave to pay fees for send all payments (aka dividends) in XCP, the more successful use of this function will drive up the price.  Adam will probably need to put in some kind of stabilizing algo so that the price to pay all will not become prohibitive.

and theoretically, although it is not applied in practice, holders of XCP should be voting on changes to the protocol.

so let me ask you folks.... say a major firm needs to pay a dividend to 1 million holders of its stock. do you think that firm would be thrilled that on the week of the dividend payment XCP price goes up 3X?

again I go back to Hayek and why mass adoption will flow to currencies that exhibit more stable growth characteristics.  and the dev's do have some control over PR because they pay Social Radius for that.

maybe i am too smart for this thread...

I think you need 0.5 XCP to create an asset
and probably some other operations which requires to burn XCP
so the price of XCP is suppose to be tied to the success of Counterparty
this is as far as i can understand about Counterparty, which is still not much

Could you please change those haha into something more meaningful? If I am wrong, please point out my mistakes. This thread is supposed to give people useful information rather than meaningless words.

hahahahhaahhahahahahahahaha

oh wait

hahahahahahahahhahahhaha

you have NO IDEA what you are talking about

Just some clarifications：
1 xcp is NOT a stock. It is NOT a share of counterparty. There's no IPO, and no money goes to the devs at all.
2 the price is completely created by the market (a very shallow one), and no one is responsible for it. It's just like BTC, and no dev or PR (do we have one for BTC?) should be responsible for the price.
3 therefore there's nothing wrong for someone to buy when he knows some good news or to sell when he knows something bad.
4 the success of counterparty has nothing to do with the price of xcp or how many people earn/lose money by speculating xcp. It soly depends on whether counterparty protocol is usable and useful.

don't worry my reduced confidence from one factor (the possible loss of a user and his network) is mitigated by many other factors.  now if it starts to happen on a more frequent basis I would have reason for greater concern.

i think you will find that the numeric palindromes and primes won't last long

or is the protocol assigning the number in sequential order? I tried the beta testnet wallet but it is telling me i need 0.5 xcp to create an asset

I respectfully disagree with you but I do hope you continue to be a supporter/investor of XCP...  Price (of XCP) is not the only reason for this project to succeed (or fail).  Execution is more important.  So many good things going for XCP...

Booms and busts happen in all markets and times.  Tulip mania.  dotcom stocks.  Real estate bubble.  There are big risks and big rewards in wild ups and downs.  If I want a stable (in price investment); I'd probably invest in a good company that pays a dividend such as MO (Altria group).

May I suggest a book to you (if you haven't already read it)?  Reminiscences of a Stock Operator (by Jesse Livermore).

It's a good read and discusses some of the things you mentioned (i.e. accumulation and distribution phase).  I'm a fundamentals type of investor, but some people like to study the charts to see when big price movements are going to happen.  Dennis Richard built a fortune utilizing Technical Analysis (charts)

I do not feel bad for you, since you appear to be fine with the situation, however others are not.  I feel content that you are content with your situation, though dismayed that you do not see the bigger picture.

I have however reduced confidence in this project succeeding when I see that a user is driven away because of practices that appear to create information asymmetries which favor people that have closer ties within a network (he called them "insiders" - don't confuse that with the SEC term).   Every user brings in a few friends, I know I did when I learned about this project. Practices which can be changed to smooth out the shock value of news so that it does not attract speculators and gives some cushion to new long term investors.

Price swigs that happen naturally due to profits/losses, performance of a thing are fine as they in theory should reflect the natural value of the thing, however when price swings occur due to how information is disseminated it is something which we have some control over and therefor it is something that warrants some critical thought to reduce unwarranted price shocks.

There are many ways to catch a fish... using TNT is just one method.

The issue is squatting, not SPAM, and only alphabetic names would ever be squatted on.

I'm one of the new guys.  I started buying when it was below .01    It dipped to .007 and lower and I was in the process of raising more BTC so I can purchase more XCP's. By the time I raised more BTC It was again .009 and on the way to breaking .01.  Kept buying as I got more BTC.  Kept buying more on the way up to .02 and some of my buys are above .02 and purchased some the past 2 days.  I keep buying until I get to my desired amount and then I'll hodl.

Please don't feel bad for me if I bought XCP for higher than the current price.  Each investor/speculator is responsible for their own actions.  I purchased ltc when it was around .002BTC.  I watched it go to .05BTC, but I didn't sell.  I sold all of my ltc right around .02BTC.

I don't know what you think the XCP community and developers can do about the wild price swings.  Bitcoin had them and still has them on occasions.  Stock Markets have them.  Company stocks have them as well.  Netflix went from over $300/share three years ago to about $50ish.  Look at where NFLX is now.  Apple AAPL, was almost bankrupt at one time.  Now it's worth almost as much as GOOGL and MSFT combined (and it was worth more than them combined from what I remember).  Apple did not go straight up.  Not even close.  Wild ups and downs.

Oh, you want to stop what you perceive as "insider trading"?  Then you want centralized regulated trading, like the US stock market where the SEC can prosecute criminals engaged in manipulation?     Where no such thing as unlimited printing of money (QE1, QE2, QE3) to bail-out the cowboys gambling with the world's financial system?  Because price manipulation of any market needs regulators to punish these very bad men and women.

is the limiting factor similar to the alphabetic convention? between 4 and 13 or 14 numbers?  meaning it max's out at about 100 Trillion assets.

i can totally see this being used for the internet of things type applications.

regarding the bitcoin only fee, wouldn't it make sense to depreciate the fee on the alphabetic asset names as well? or what is the rationale for having the latter if the former implies that spam control is handled by a bitcoin cost?

Asset IDs will never use large character sets, because of the possibilities of ambiguity and phishing (just as Bitcoin addresses use Base-58).That said, asset descriptions already have full support for UTF-8, which is where the real "asset names" should go.

Hopefully we will see support for double byte characters at some point in the future.

my posts, if you read them, are only tangentially related to price speculation.

developing something is more than just technical developments, how the market is approached and how new users are approached is just as important to "pioneering peer-to-peer finance" as no one will want to use a system which has such high volatility due to misinformed management of information flows as to make the system unstable for realizing the ability to transact p2p financial transactions.

BTW this is the official thread, there are no guidelines as to what it is for other than to discuss CounterParty.

to the people speculating on the price

Early posters like myself right now and a few others in prior posts seem to be suggesting that at the very least you move your posts to the price speculation forum posted earlier. There is a place for everything.

This thread has been incredibly helpful for people who want to know what is going on with the Counterparty protocol and other initiatives to the development. We don't need speculation on the price action and reasons behind it on this particular thread. Because it's a distraction from more informative posts.

XCP is tiny and will continue to be volatile. I for one am probably not gonna sell for a long long time so I find the conversation on the protocol developments ten times more interesting than scrutinizing volatility that is fairly typical of many digital and other assets. Comes with the territory, now let's get back to the real conversation.

how do you know if they wanted to flip or not? assumption.

also it is not possible to purchase xcp with fiat.

only with BTC. his cost basis is therefor higher and he lost BTC in order to purchase X amount of XCP.

In any case, I am siding with the poster who was disappointed because our users should always be #1. And complaints need to be taken seriously as well as seen as an opportunity for innovation - in this case not technical innovation but innovation in marketing/communications processes.

This project is managed by people and collectively those people make decisions which ultimately influence how the market absorbs information and the rate of absorption and reaction (buy/sell orders) results in posts such as from that poster who was feeling dissatisfied.

Does anyone think this person will go on to recommend looking at XCP to others?  Probably not. 

In fact he might actually go around and say "hey folks nothing to see here a bunch of insiders pump and dumped on me and now my cost basis is higher".

Folk can continue to poo poo me and say but it's open source yadda yadda yadda... or you can learn from this, incorporate that knowledge and figure out how to do things so that the price is not volatile.

Regarding wild price swings...

Anyone who is familiar with Hayek's book on private money and the competition between various forms or private money will know that Hayek theorized that private monies offering the most stability to users will likely dominate the market. 

See the connection? You want XCP to dominate the market?  You better give some thought on how to engage the market without leaving a population of people feeling screwed over.

However if you all want XCP to wind up like every other crapcoin, continue to do as everyone else does and don't bother innovating, keep telling yourself it's an open source project and this is just the way things are done...

Great update. The free (no XCP fee, just Bitcoin Fee) Numeric-Named Assets are a powerful addition to the protocol. Huge swathes of Counterparty Protocol functionality can be accessed by just using BTC now. Frictionless on-boarding for the win! Entirely new applications will spring up around this capability.

Multisig support is just around the corner! Being able to secure one's assets in this manner will really add to the confidence in the Counterparty Protocol. And again, new applications will make use of multisig in various ways - as has been seen in the Bitcoin ecosystem. A solution for the following will be the cherry on top - https://github.com/CounterpartyXCP/counterpartyd/issues/413.

Keep up the relentless work! =D