Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 151. (Read 1276789 times)

Here, here. Keep up the great work!


I agree. Until Counterparty is traded on a significant exchange the price is meaningless. I have a feeling that as soon as Kraken sort out their takeover of Mt.Gox and their push into the Japanese market they are the type of exchange who will support XCP and other CP asset trading. Before this happens a few things would help facilitate that:

1. Desktop/Server CP client (with GUI).
2. Enterprise security features: Multi-sig, Trezor Support etc. Think Armory for Counterparty.
3. At least a few high trading volume XCP assets (A version of Nubits [possibly one for every major Fiat curency] built on top of Counterparty would achieve this). Swarm really taking off could establish this too.
4. Establishment of the Counterparty Foundation (an official body that can be consulted for help).
5. Counterparty turning 1 year old (soon!).
6. Understanding that the Decentralized Exchange can be a powerful tool for a Centralized Exchange to interface with.
7. Understanding that the Smart Contracts can be a powerful tool for a Centralized Exchange to interface with.

Did I miss anything?

Let's keep the discussion here focused on Counterparty. (PayCoin, in particular, seems to have no real connection to Counterparty or its functionality, and there already exist multiple clones of Counterparty on faster blockchains.)

can't understand so many words.

Not recognizing true value of XCP is my favorite thing about crypto market psychology.

Having people using the protocol is what will bring the ROI.

here are reasons why am I hodling my XCP

-protocol over bitcoin blockchain. Although in 2 years we could see sidechain merged into bitcoin and hundreds of alts born in the there, protocol over blockchain is one of a kind. There are pros and cons on both approaches, so I don't think counterparty would be obsolete by sidechain, not to mention counterparty can be moved to sidechain too if sidechain is the clear winner. So far, there are only 2 platforms over bitcoin blockchain, us and mastercoin. Even counterparty does not become the internet of bitcoin 2.0, there's a good chance to become the internet of bitcoin 2.0 over blockchain.

-those hashcoin, paycoin, honestly first time I hear about them, sounds like another alt chains. So they will have to fight in the 2nd league, pts, nxt, stellar, ethereum and whatnot. If nothing goes wrong in the technical side of bitcoin, I do believe bitcoin will be the Internet of money. It doesn't mean all alts die, of course, just be irrelevant, especially those that have no relation to bitcoin. Again, even if bitcoin is not to be what we hope for, counterparty can still adapt.

-I trust movement, I don't trust company/organization. See how shit hit fan on mastercoin? Same could totally happen to ethereum, although so far they seems to have more organized team behind it.

-counterparty team is solid. In the cryptomoney market, putting trust on people seems to work so far, at least I don't get screwed by scammers or incompetent irresponsible people. Oh so paycoin involves with that GAW thing, it's piece of shit then, done.

If you (as a supposed independent investor) want to discuss paycoin, go to the appropriate thread: https://bitcointalk.org/index.php?topic=857670.1020

(You are also free to discuss on hashtalk, or converse amongst the other many shill grounds but it's common knowledge critical opinions will be censored (you will also face a negative effect in the loss of points), or you will receive threatening cease and desist notices.

http://www.reddit.com/r/Bitcoin/comments/2l7myv/
http://dcmagnates.com/gaw-miners-accused-of-ponzi-practices-ceo-garza-defends-company/
http://www.reddit.com/r/Bitcoin/comments/2ng2aa/gaw_makes_threat_to_coin_fire_directly_via_email/

GeminiSimba, thank you for making an attempt to answer my question.  What you have addressed, regarding the value of Counterparty, is precisely the dilemma: Paycoin is allegedly also coded onto the Bitcoin blockchain according to the WSJ article.  If this design is what has made Counterparty so unique and valuable, then this exclusivity may not continue moving forward into the future.

At this point, it seems impossible to know if the open source Counterparty code will be implemented into Paycoin.  But it would certainly make sense to thoroughly investigate and know the  facts before pulling the trigger on any sizable position in either currency.  

I will speculate and say that if I were the one with big bucks like Cantor Fitzgerald backing Paycoin, who does $20 trillion dollars in financial transactions per year, I would certainly want to implement the very best technical approach presently available, which IMHO is Counterparty coding.  

Just to be clear, Counterparty does not have any proprietary code or 'business plans'. Counterparty is a non-profit, open-source project through and through.

You will not find the ideal answer to your question here. I am a business person and investor myself, so I understand you when you talk about counterparty having or not having proprietary code or business plans etc..
The problem with your question is you are asking coders about their business plan so that you can decide on whether to invest...The coders create code out of their own pocket, not with the idea to profit (if they do profit as in the case with Overstock CEO hiring them) that is great but they create innovative technology without the assumption that their ideas will stay only with them. In this open source world of creating innovative code, nothing is "proprietary". Just as we incorporated ethereum into our code, other alt coins or alt chains can certainly build counterparty-like systems on their chains. You cannot do anything to stop that.

With all that said knowing that everything is open source, knowing that this is a protocol (not a business) you want to potentially (and rightfully so) profit from the growth in price and value of XCP. Because of your desire to profit as an investor in XCP you wish to get reasons why you should invest with this Counterparty asset over any other system (like ethereum or paycoin). There can only be one logical answer to your question. That is the potential of highly profitable companies (Actual businesses that have actual products tangible or not) that will be built on top the Counterparty protocol vs being built on Ethereum or Paycoin or any other protocol. How can you know if multi million dollar or multi billion dollar companies will build their business' on Counterparty rather than those competitors? Unfortunately, the truth of it is you don't know.... But you can make a speculative and informed guess that investing into XCP will be worth it even if those other protocols find success. Why do I say that? Because Counterparty is ran on the Bitcoin blockchain rather than it's own blockchain, this means it's automatically going to be more secure than any of the other coins you've mentioned in any of your messages. Bitcoin has over 90% of the market value of all crypto currencies, Bitcoin has first mover advantage and that is HUGE. Counterparty is the only protocol of it's kind that runs on the Bitcoin blockchain...If you can't make an informed investment decision with this information, I don't know what to tell you. But please stop spamming this thread with stuff about hashcoin/paycoin...

You have it totally wrong, GeminiSimba.

I am sincerely interested in investing, possibly a lot of money into Counteryparty, as I recenlty have into Bitcoin itself on this pullback.  However, up to this point, I am not finding the answers that I need as an investor to justify putting out all this money, just to have it wiped out because someone else came up with the same coding in a different coin that took off and became the standard for these functionalists.  You can't just bury your head in the sand and believe that just because the Counterparty coders are the brightest and have done the best job, with integrity, doesn't mean that it will ultimately become the most valuable coin.   And yes, it is an alt coin, even though it is coded onto the Bitcoin blockchain.

If you, or anyone else, could address this beyond the "first to market" argument, I am eagerly awaiting a reason to put my money to work.   

getts, this forum is more about people who have interest in discussing the impacts and innovations of "Counterparty". It is ok to once in a while mention here or there some alt coin that has peaked your interest, however I've been tracking your comments. You have 7 messages to your account and over half of them are on this page and they are all about an alt coins that you feel will compete with counterparty. I am not normally the type to start conflict, but at this point you are obviously spreading FUD, and you are starting to become an annoyance...

Counterparty is not on a sidechain, genius.

deliciousowl, if you take the time to read carefully, you will see that I am referring to Counterparty WITHOUT a side chain.  It is quite obvious that Counterparty is built into the Bitcoin blockchain.  However, it is not yet that obvious with Paycoin, but from the WSJ article, this also appears to be the case?

I would think that anyone involved with Counterparty, at least from an investment prospective, would want to know about other coins that pro port to carry out the same functions.  Apparently, there is no protection of the valuable coding to prevent cloning of the code.

As a former xcp holder, I used to follow XCP trading quite closely.

XCP was traded for 0.003 for months,
30-45 days before the announcement about the etherum protocol implementation on top of xcp someone with inside information begun to buy massive amounts of xcp's.
The price drove up slowly up to 0.017 at the day of the announcement itself.
The hype took it higher to the range of 0.022-0.023 and after few days of trading someone pulled like 80% of the buy orders resulting in a very thick buy book.

You can call me paranoid, but that is my opinion (just look at the graphs before you kill me for fudding)


edit: I am saying this because in my opinion we still have a way until *real* floor is reached.
I am keeping an eye as well although currently I have no free btc to invest anyway (xcp is a great project with a great team I am just not sure about its current price).

The floor should be a bit higher then 0.003 which was the price before the insider pump, anyway I won't touch xcp again because they are playing with inside information - honest investors have no chance in here.

This is not the Paycoin thread, and Counterparty does not have a sidechain (and is not on a sidechain).

For those of you following the Counterparty "copycats" or whatever you want to call them, here is a Wall St. Journal article.  Paycoin may have a market cap among the top 3  alt coins right out of the gate:

[Suspicious link removed]j.com/moneybeat/2014/11/25/bitbeat-gaw-miners-to-launch-bitcoin-challenger-paycoin/

Interesting that it states that Paycoin will be built right on top of the Bitcoin blockchain, apparently like Counterparty without a sidechain?

Hi all, another community update is here with a monthly summary of all the exciting news from the last 30 days http://counterparty.io/news/counterparty-community-update-november-25/

That's been going on for a while. It's working, and the smart investors are buying on the dips. The great thing about XCP is that the long-term holders have and will continue to hold for a long time so there's a very solid floor which limits potential downside.

I'd say six months... possibly a year.


Great. I'll pick some up.