Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 168. (Read 1276789 times)

yep and it was around the range traded now for maybe a week or so. but what needs to be said here is that a) the market segment was maybe by a maginitude more bullish and b) most people were not able to move their coins to an exchange at that time because it was as complicated as building a rocket

Do you guys mind if I link to the announcement thread new asset I've built on Counterparty?

Basically, I'm an author who is making their own token for people to buy commissions with and receive a distributed share of the commission revenue.

It's called JaroknCoin.

More details at https://bitcointalksearch.org/topic/ann-jrkc-jarokncoin-the-coin-of-an-author-counterparty-asset-847507.

I think it peaked at ~0.024 when it was first traded.

What was the ath,  anybody remember¿

There where all other coins have try go, but fuel have finished in middle way?

Good analysis, though, I think those chatter are mainly from poloniex which is more a P&D exchange. Hence the uninformed chat.

Nice site this cryptrader, good to see the bter chart with a better layout.

I really wonder how high XCP will go. I don't regret taking some profits months ago even if I could have done twice more now. Burners should all sell a little bit of their stash to spread XCP adoption.

Also, I think there is a correlation to the consistent increase in value happening right now of XCP with the current event happening right now in Vegas "Money 20/20". All the big names in the BTC space are there giving presentations and I've been following their twitter feed and reading the articles on coindesk and notice whenever a presentation happens where people push the "Crypto 2.0" idea there are small spikes in the price of counterparty. This is my speculation but I think since Counterparty is pretty much the number 1 crypto 2.0 technology right now it's as if the very words of the people in vegas are causing investors to buy xcp haha.

Yeah but you "get it".

First the internet and now crypto.  What's next, jet packs?  Actually jet packs would be kind of a letdown after the internet and crypto.

I just want to post my enthusiasm not just about XCP but of value investing altogether here because I don't think anyone else in my life will understand. I have no investor background and have never taken any college economics classes. However, the interest I took earlier this year in Crypto Currencies (which later became a day to day passion) has caused me to spend this entire year learning SOOOO much online about investing, economics, philosophy and how all of these things tie into potential impacts of crypto currencies. I say all that because I don't make much money doing tech support so I spend 30 bucks here, 50 bucks there, 60 bucks here and there (all money I'd just use to go to bars or clubs any other time) on my crypto currency obsession and lately I've been all over Counterparty.

My point in all that is that the simple fact of being able to check BTER and during the weekend my holdings in XCP were 70 dollars, and today they are 95 dollars...To see within 3 days of my doing nothing at all money just increase....for a lower income tier person like me to see even that just makes my heart jump. I love what digital currencies are doing, putting wealth creation ability in the hands of ordinary folks like me haha

Lyth looks like it is going to be pretty cool.  I like these games.
There is also the "Crypto Kingdom" built on XMR, which is playable in its pre-release form now.

Basically if you start Crypto Kingdom today, you get an easy path to nobility in the game and also get to be a stakeholder in it.
In later phases, the game essentially becomes an XMR faucet.
https://bitcointalksearch.org/topic/crypto-kingdom-1991-retro-virtual-worldcity-819073

I don't think this is what he meant with "fully uses the potential". I think the MMORPG "Lyth" (powered by Nxt) is more the direction what he searches for.

Take a look at Huntercoin (HUC). They are still a long way from a smoothly operating user experience, but the underlying POW incentives are there. Playing the game is how you mine and acquire coins.

It's impossible to tell.  Most cryptos are still heavily denominated in BTC.  This is pretty much due to the fact that most cryptos are traded in XXX-BTC trading pairs on the various exchanges.  E.g. if you want to buy Random Coin X, then you have to trade BTC for it.

Some of the bigger cryptos like LTC, DRK, DOGE, and XCP have been established on exchanges with real-world-currency pairs. E.g. XCP-CNY, XCP-USD, DOGE-EUR.  So you can buy XCP with Dollars or Yuan in your account directly, instead of first buying BTC.  These help remove some of the ties to BTC, and as volume for a particular crypto becomes established in real-world-currency-trading versus BTC-trading, it will be somewhat insulated from the BTC fluctuations, as it will take some time (and money) for the trading pairs to be aribtraged to equivalency.

E.g. say BTC is at $400.00 USD, XCP is at .01 BTC, which means XCP is at $4.00 USD.  Now the BTC price drops to $300.  The XCP price is "sticky" around .01 BTC but it's also "sticky" at $4.00.  The final price of XCP will be proportional to how much volume is being traded in the XCP/BTC markets versus the XCP/USD markets.  So if the overall XCP volume is 75% BTC and 25% USD, then the final price might end up more around $3.25.  Of course this is just a grossly simplified example, as we also have trading in CNY (Chinese Yuan, aka Renminbi) which also fluctuates relative both to the USD and BTC.  So there are lots of arbitrage points, and the price kind of "floats" between all of them. 

(Note: Since Bitcoin tends to be denominated in USD in the news and most sites, this is taken as a one-way street: "Bitcoin lost value today..."  It is the same with oil lately.  Oil prices in USD have dropped significantly in the past few months.  But this only has meaning if you treat USD as the default currency!  The fact is, the USD has gotten stronger relative to the EUR, the JPY, the GBP, you name it, all the world currencies.  A stronger dollar means that the price of everything gets lower in dollars.... gold, oil, BTC.  (Interesting article on Yahoo Finance the other day about how the BTC price has closely tracked gold prices lately.... http://briankellycap.tumblr.com/post/101298875667/bitcoin-and-gold-bosom-buddies )

(Real-world currency traders do this all day.  Trade AUD for EUR for JPY for USD for AUD, and end up with more Australian Dollars than you started with!  Which is great if you're Australian and pay your mortgage in AUD.)

If you look at coinmarketcap for XCP right now, you see that XCP is trading for roughly $4.17 in BTC on BTER exchange, while it is trading for roughly $4.01 in CNY on the same exchange.  So if you had CNY, you could purchase XCP for $4.01 and end trade for BTC, and get $4.17 worth of BTC for only $4.01 of CNY.  The lowest price is on the Counterparty DEX at $3.39 while the highest price is on Poloniex at $4.28.

XCP only has less than 2% of its trades denominated in real-world-curencies (CNY and USD).  It is heavily denominated in BTC.  So for now expect the "real-world-equivalent" price of XCP to track closely with BTC.  Of course it is gaining value due to the Overstock news, which is an upward trend within the BTC-tracking trend that all cryptos are subject to.

In conclusion, this "XCP up while BTC down" trend is definitely going against the grain of normal crypto trades, and is a great thing for XCP!

Counterparty (XCP)   0.01272564 BTC   +383.79% in a half a year

That's the way I expect it to play out but predicting future prices is difficult.

In that case it's likely that no matter what XCP is in comparison to btc it will remain constant regardless of the volatility? As in if one XCP became .5 BTC, then whether a btc was 300 dollars or worth 300,000 dollars, in this hypothetical an XCP would probably still be .5 btc?

During the last big rise I saw altcoins only increase in per-BTC value.

One stark contrast between BTC and XCP is that BTC is inflationary and XCP is deflationary.  You can't mine-and-dump XCP.

I am curious as to how tied to the btc value/price is xcp? To clarify I notice that as the overall price of btc has been dropping, xcp has been rising. I have to ask myself if btc price were to shoot up today to say 10k for 1 bitcoin, would xcp remain at .01btc or would it all of a sudden drop down to the equivalent value of 5 dollars out of a 10k valued bitcon?

Just FYI everyone, that article incorrectly states that we've received letters from the SEC. That is just a mistake. No one from Counterparty has received any such letters. We're getting the article corrected now.

All the 2.0 competition was getting confusing.  Nice of Overstock to choose the winner.    IMO, they chose wisely.