Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 149. (Read 1276936 times)

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

Fortune mentions Overstock's decentralized stock exchange plans...
Byrne’s sees bitcoin as opening the doors far beyond retail transactions. Last month, he disclosed plans to use bitcoin’s technology to create a decentralized stock exchange.
http://fortune.com/2014/11/28/bitcoin-buzz-bypasses-shoppers/?xid=yahoo_fortune

Hi all, here's the latest Counterparty Development Update: http://counterparty.io/news/counterparty-development-update-4/

If you look at the volume, market depth, and the amounts that were purchased over the last few months XCP is not a very good instrument for a P&D. It's just too thinly traded to get a lot of btc out. The point about not being on many exchanges is a good one. I think we're still very early days so the claims to me amount to a tempest in a teapot. I am definitely hodling and have since 0.01 and below.

There is insider trading even with corporations. That's the way the world is: information are valuable, you cannot do much about it.

This is an open source project. XCP, like most cryptocurrency tokens, is a new and misunderstood commodity. There is no obligation, regulation or precedent for announcing updates to the Counterparty Protocol software or new projects being built on top of Counterparty. On top of all of that, XCP has little liquidity and is not traded on a single high quality exchange (e.g. Kraken, Bitstamp, etc.).

You are right, it is unfortunate that some people may have lost some fiat currency over a very short time scale because they wanted to flip XCP.

Here are some guidelines for so-called XCP "investors":

Seek out information from every possible channel at every possible opportunity
Buy XCP to use it (spend it, issue assets, run smart contracts etc.)
Never spend more money than you can afford to completely lose
Contribute to the Counterparty Protocol yourself in whatever way you can
Be patient. (Ch)Rome wasn't built in a day.

i'm not hating, i'm just siding with the little guy that gets burned because of the PnDs

btw do you think the price will test support at 0.01?

this all originally started with new people coming on to this thread complaining that they believe that some people get privileged information and positions allowing them to make money of new entrants, and those people believe that it is unfair.

apparently the old timers in this community, except for me, respond with: too bad so sad, sucks to be you.

very nice way to grow the community... not.

My to-do, inspired by this thread:

• Fly above the haters
• Score cheap coins.
• Wait for XCP devs to wizard contracts support into completion and send XCP to a gazillion digits

I think now would be a good time to take this somewhere else and not derail the thread further. And if you respect your fellow readers, please edit away the quotations in your posts, or delete them entirely, as frankly it's an eyesore

It's sometimes hard to strike the right balance between promising something that you're not sure can be delivered, and waiting until it's all done before announcing it with huge fanfare. The signs were there, if not presented on a plate. I personally think the PR was okay, maybe I'm wrong; clearly we disagree, and I'm fine with that.

I had some conversations with a couple of the Counterparty core developers at a conference earlier this year, and they do come across as very competent, professional, and genuinely interested in delivering the best platform they can (no matter how long it takes). Very different from the scam artists that plague these forums, and crypt in general. I'm happy to remain invested in XCP.

i'm sorry for implying that you may be a sociopath, or have the thought processes of one. just a feeling i get...

these "normal PR" that SR does are done to reach "a lot of people" is what causes the Pump and Dump and what causes the price volatility.

people that get suckered in by these types of press releases.

remember nothing great is build quickly, everything good takes time, trust, good will, etc.  doing a series of pump and dumps with these press releases is not building a good foundation when people feel they are getting scammed because some people the "insiders" (who I am not one of) have access to privileged information on what is in the press releases, which news outlets are being spoken to, when the news will get releases, etc.

there indeed are "insiders" and the "insiders" are the people who know about and coordinate the press releases, articles and interviews.  and if any of them leak anything to a trader, which is what appears what happened, then it is very easy to pump and dump such a small market.

which is why you see XCP going down 50%+....

Stop calling people names. Theres no need for it. You've called me a sociopath twice now, and that is the end of any engagement I will have will you. Ignored.

again thinking like a sociopath.  nothing needs to be "sly"

simple updates via twitter, bitcointalk, the forum, other communications channels work well.

Wow, didn't mean to offend you so much, sorry.

You're right, I don't get it. Anything other than a 'dramatic annoucement' which reaches a lot of people is inevitably going to be a sly announcement given to a limited number of insiders, as far as I can tell. What I saw was normal PR - I'd much prefer that to some kind of sneaky Ninja launch stuff.

love the use of quotes for max annoyance effect...

anyway no... that is not my point... by "subtly" i mean the opposite of "dramatic announcement that causes a massive flood of BTC resulting in N00bs getting squeezed"

get it?

no probably not...

as far as my trading strategy goes i have been very honest about it.  i hold a decent amount of XCP (4 digits) since January.  And occasionally I provide buy/sell support in order to increase my position as well as donate funds to the effort.  for example the other month i donated 100 XCP to get a Chinese wallet.

i try to live an altruistic life in word and in deed because i practice empathy and sympathy to my fellow beings.

what do you do? other than assume everyone else is a sociopath?

By suggesting you want the info 'subtly introduced into the market' it seems like what you are saying is not that you don't want people trading on insider information, but that instead of announcing it openly with a press release, you wanted the info shared 'subtly' with a group of insiders, including yourself, so you could trade on it before it became common knowledge.

The current drop is probably just the kind of correction which always happens after a big rise. Theres a nice profit for people to take, and many probably only bought as a bet on Overstock choosing Counterparty and may have planned to take a profit soon after the announcement from the start. The correction is deeper than I would have expected, but perhaps traders are have been putting their money into something else, like the incredible surge happening to Ripple right now.

If you want to stay on top of the ball, believe the devs when they say "major announcement" and subscribe to e-mail updates on github. That's how many people found out. It's not some secret skull and bones club... If you're doing trading/short-term investment (<1 year), then it's advantageous to keep informed.

There's also a newsletter on Counterparty.io for example. With regular dev and community updates... as well as news.

http://counterparty.io/news/counterparty-community-update-oct-2014/

"Upcoming Big News
We have another major announcement that we will be making sometime over the next few weeks. Stay tuned!"