Author

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 155. (Read 1276789 times)

hero member
Activity: 700
Merit: 500
An alt-coin becomes a digital asset on counterparty

https://www.cryptocoinsnews.com/scotcoin-migrates-altcoin-counterparty-digital-asset/


Instructions on how they intend to move off their local ledger into counterparty platform listed on the scotcoin website - by burning scotcoins - http://scotcoin.org/


Nice.  I'm just wondering how long it'll be before Maidsafe migrates over to Counterparty and puts the final nail in the Mastercoin coffin.
legendary
Activity: 1102
Merit: 1014
According to Peter Todd sidechains can be implemented with the Ethereum style scripts. Wouldn't it be fitting if the first public test of a sidechain were to happen with XCP? 

...
The most exciting thing from a Counterparty perspective would be a way to lock some BTC (without burning it) in the Bitcoin Blockchain such that it instantiated a 1-to-1 asset balance (called, say, CounterBTC) in the Counterparty Protocol. This would allow for a frictionless way to use Bitcoin within Counterparty (the Holy Grail).

Peter Todd's "checklocktimeverify" BIP would go a long way towards making this a reality.
The sidechains paper's "Appendix A Federated peg" describes using "a trusted federation of mutually distrusting functionaries [that] evaluate the script and accept by signing for an ordinary multisignature script". What if the Counterparty protocol was able to be stand in for those functionaries?
full member
Activity: 176
Merit: 100
Ain't no party like a Counterparty!
Has anyone looked into how Blockstream may be incorporating any of Counterparty's coding?  It appears that many of their goals in functionality are the same.

https://www.cryptocoinsnews.com/blockstream-billionaire-entrepreneurs-betting-big-bitcoin/

As a potential investor in Counterparty, I continue to find a number of other "competitive" threats to the scarcity of proprietary properties that would be required to drive the price much higher.  If it becomes a question of first to market, does that trump the late comers or copy cats that are much better funded to establish predominate market position?
I would bet on the first-to-market as long as they are technically competent. We see time and time again that money does not determine the outcome more than working code. This I think is a result of the fact that code is not capital intensive. Talent + motivation > money. Add to that free and open source software and a culture where people who have talent and motivation tend to clump together (Bitcoin, and now in Counterparty) and I don't care if you have a billion dollars. That money can't code.
Sidechains are far from done imho, it requires a fork plus it threathens the proven incentive model of BTC. This is not trivial and I am personnally against.

Actually Counterparty maybe be one of the biggest argument for why BTC doesn't need Sidechains.

Exactly, if anything Counterparty's success will completely undermine the "need" for something like sidechains to exist. People keep talking about moving counterparty over to sidechains once they are invented but it's like why? Why should we lower the security of Counterparty assets by moving them off the bitcoin blockchain just because google is funding that project (blockstream)? One thing I've learned overtime in this space is that when it comes to platforms, those who simply come out with working systems without taking money from "investors" will almost always come out on top. I understand some people look at counterparty itself as a company, but these are coders simply building a platform for which actual companies can prosper on.

So when you say things like "as a potential investor in counterparty..i'm worried about their proprietary..." this is already the wrong attitude. You are not communicating to a company that has a business plan to sell a product and make money....you are communicating to the protocol world and in the world of coders NOTHING IS PROPRIETARY. Everything can be copied, investing in counterparty or bitcoin is like trying to invest in TCP-IP or HTML, these are things that in the past you could not even invest in if you wanted to but today the game is changed. If you want a reason to invest in the counterparty protocol that reason will have to simply be for you to ask yourself;
 "Do I believe that the most profitable companies in the digital currency space will be built on this counterparty platform in the future or not?"
and if the answer is Yes, then buy as much xcp as you can, if the answer is no, then invest in another protocol.
member
Activity: 118
Merit: 10
A difference which makes a difference
According to Peter Todd sidechains can be implemented with the Ethereum style scripts. Wouldn't it be fitting if the first public test of a sidechain were to happen with XCP?  

I was thinking this myself. I've been posing the question "What is the absolute simplest way to implement a sidechain now?".

Some thoughts:

Counterparty itself is already arguably a type of sidechain (albeit an embedded one) with a one-way peg (i.e. irreversible, can't redeem the burned BTC with XCP).

The real challenge is to perform the two-way peg. Or... two one-way pegs that both know what is going on and can update balances accordingly. Since the Smart Contracts can observe external information they could definitely implement sidechains.

The most exciting thing from a Counterparty perspective would be a way to lock some BTC (without burning it) in the Bitcoin Blockchain such that it instantiated a 1-to-1 asset balance (called, say, CounterBTC) in the Counterparty Protocol. This would allow for a frictionless way to use Bitcoin within Counterparty (the Holy Grail).

Peter Todd's "checklocktimeverify" BIP would go a long way towards making this a reality.

legendary
Activity: 861
Merit: 1010
Has anyone looked into how Blockstream may be incorporating any of Counterparty's coding?  It appears that many of their goals in functionality are the same.

https://www.cryptocoinsnews.com/blockstream-billionaire-entrepreneurs-betting-big-bitcoin/

As a potential investor in Counterparty, I continue to find a number of other "competitive" threats to the scarcity of proprietary properties that would be required to drive the price much higher.  If it becomes a question of first to market, does that trump the late comers or copy cats that are much better funded to establish predominate market position?
I would bet on the first-to-market as long as they are technically competent. We see time and time again that money does not determine the outcome more than working code. This I think is a result of the fact that code is not capital intensive. Talent + motivation > money. Add to that free and open source software and a culture where people who have talent and motivation tend to clump together (Bitcoin, and now in Counterparty) and I don't care if you have a billion dollars. That money can't code.
Sidechains are far from done imho, it requires a fork plus it threathens the proven incentive model of BTC. This is not trivial and I am personnally against.

Actually Counterparty maybe be one of the biggest argument for why BTC doesn't need Sidechains.
newbie
Activity: 11
Merit: 0
Has anyone looked into how Blockstream may be incorporating any of Counterparty's coding?  It appears that many of their goals in functionality are the same.

https://www.cryptocoinsnews.com/blockstream-billionaire-entrepreneurs-betting-big-bitcoin/

As a potential investor in Counterparty, I continue to find a number of other "competitive" threats to the scarcity of proprietary properties that would be required to drive the price much higher.  If it becomes a question of first to market, does that trump the late comers or copy cats that are much better funded to establish predominate market position?
full member
Activity: 121
Merit: 100
Counterparty General Manager
Hi guys, here the new post - Counterparty Community Update, November 19th: AMA, Smart Contracts, From the Web & more: http://counterparty.io/news/counterparty-community-update-november-19/
sr. member
Activity: 476
Merit: 300
Counterparty Chief Scientist and Co-Founder
FYI, I've been getting a lot of questions recently about when we're going to deploy the contracts system on mainnet. We're definitely planning on releasing it before March 1st, though if we're reasonably lucky we'll do it well before then. Of course, security is our highest priority and we won't make anything live until we're certain that it's ready for prime time, but we're very close to having a production-ready system.
full member
Activity: 134
Merit: 100
1 XCP sent to jepjep. Sorry SalimNagamato too big post count Smiley My orginal post was also removed by Bitcoin Forum moderator  Cheesy

"A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted."
sr. member
Activity: 432
Merit: 250
Well, the Counterparty dev team prioritizes security so we should really not be rushing them.  Smiley

I too would like to know about the release date. This is not to say we want a rushed release to mainnet but some sort of expected (or estimated) timeline would be helpful.

Maybe it will be mentioned in the next community update.
full member
Activity: 196
Merit: 100
Is there a release date for Serpent scripts support in mainnet?

( Cross-posted from https://forums.counterparty.io/discussion/comment/4104/#Comment_4104 )

Well, the Counterparty dev team prioritizes security so we should really not be rushing them.  Smiley

I too would like to know about the release date. This is not to say we want a rushed release to mainnet but some sort of expected (or estimated) timeline would be helpful.
full member
Activity: 196
Merit: 100
An alt-coin becomes a digital asset on counterparty

https://www.cryptocoinsnews.com/scotcoin-migrates-altcoin-counterparty-digital-asset/


Instructions on how they intend to move off their local ledger into counterparty platform listed on the scotcoin website - by burning scotcoins - http://scotcoin.org/
sr. member
Activity: 432
Merit: 250
Is there a release date for Serpent scripts support in mainnet?

( Cross-posted from https://forums.counterparty.io/discussion/comment/4104/#Comment_4104 )

Well, the Counterparty dev team prioritizes security so we should really not be rushing them.  Smiley
sr. member
Activity: 406
Merit: 250
Is still aviable this bounty?
I also could do romamian translate if needed...
I suspect not but stay tuned. Perhaps more bounties will appear. https://forums.counterparty.io/discussion/807/list-of-open-counterparty-bounties#latest

Thanks I'll pass more often around here  Wink
legendary
Activity: 1102
Merit: 1014
So i spelled it correctly... before the guy claiming the one XCP
send my 1 XCP to the website collecting donations - http://donatexcp.com/
posted some pages back
He also said 50 post count max. So you should have created a new account! Grin
legendary
Activity: 924
Merit: 1000
So i spelled it correctly... before the guy claiming the one XCP
send my 1 XCP to the website collecting donations - http://donatexcp.com/
posted some pages back

i rather believe in FoldingCoin  Smiley

I rather believe C _ u n t _ _ _ a r t _.
 
First right answer win 1 XCP. ( Users who I think or know already own enough coins not count to game, post limit also max 50 post.) Post your XCP address also Smiley.


Edit. Reddit r/Bitcoin AMA was also good, thanks for devs good answers what making understand everything much better.


COUNTERPARTY!

1JXUnXPYAGfncPabAAe8vCPDPcnW6jHdb7

Actually it's Counterparty. (no exclamation).

1CKJxJ3Q1BbyLZHqC2YeJDvoyW8xPGVPy4
legendary
Activity: 1288
Merit: 1000
i rather believe in FoldingCoin  Smiley

I rather believe C _ u n t _ _ _ a r t _.
 
First right answer win 1 XCP. ( Users who I think or know already own enough coins not count to game, post limit also max 50 post.) Post your XCP address also Smiley.


Edit. Reddit r/Bitcoin AMA was also good, thanks for devs good answers what making understand everything much better.


COUNTERPARTY!



Actually it's Counterparty. (no exclamation).

newbie
Activity: 3
Merit: 0
i rather believe in FoldingCoin  Smiley

I rather believe C _ u n t _ _ _ a r t _.
 
First right answer win 1 XCP. ( Users who I think or know already own enough coins not count to game, post limit also max 50 post.) Post your XCP address also Smiley.


Edit. Reddit r/Bitcoin AMA was also good, thanks for devs good answers what making understand everything much better.


COUNTERPARTY!

1JXUnXPYAGfncPabAAe8vCPDPcnW6jHdb7
Jump to: