[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 169.

deliciousowl

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Quote from: bitcoinrocks on November 03, 2014, 12:36:21 PM

I should have said the *first* killer app. Flight from banks won't come first.

Yeah, that makes more sense. I like the idea of travel also. Because people will not have to exchange currencies and pay ridiculous fees for it. But I don't think that will be the first either. Maybe in niche markets.

But anyway Counterparty is at the highest point since Overstock news, 0.01337470 BTC. And I think it's clear where we're going. And there is more than enough room for other pioneering technologies that use XCP in completely original ways. It was a great idea to create something like canvas, so that it wouldn't be necessary to guess what the users want to do with it.

Most of the potential is still in the yet unknown unknowns, multi-sig and the mass adoption of broadcast betting.

bitcoinrocks

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Quote from: deliciousowl on November 03, 2014, 12:30:08 PM

Quote from: bitcoinrocks on November 03, 2014, 12:29:10 PM

I've been wondering what the killer app that "forces" Average Joe to buy BTC will be. Maybe a game.

Sadly, it will more likely be something like this:
http://www.smh.com.au/federal-politics/political-news/pensioners-lose-savings-in-government-cash-grab-20140609-39t7p.html
http://rt.com/usa/199883-irs-structuring-civil-asset-forfeiture/

I should have said the *first* killer app. Flight from banks won't come first.

bitcoinpaul

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Quote from: bitcoinrocks on November 03, 2014, 12:29:10 PM

Quote from: IamNotSure on November 03, 2014, 12:24:37 PM

I'm still waiting to see a game that fully uses the potential of cryptos

Good call. I've been wondering what the killer app that "forces" Average Joe to buy BTC will be. Maybe a game.

https://lythmmo.com

BldSwtTrs

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Choo choo motherfucker.

deliciousowl

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Quote from: IamNotSure on November 03, 2014, 12:24:37 PM

Excellent news. I'm still waiting to see a game that fully uses the potential of cryptos

The gameplay looks solid and possibly addictive, and the cards seem to be tradable as well. I think trading intensive games definitely attract the right mindset for XCP. +1

Quote from: bitcoinrocks on November 03, 2014, 12:29:10 PM

Good call. I've been wondering what the killer app that "forces" Average Joe to buy BTC will be. Maybe a game.

Sadly, it will more likely be something like this:
http://www.smh.com.au/federal-politics/political-news/pensioners-lose-savings-in-government-cash-grab-20140609-39t7p.html
http://rt.com/usa/199883-irs-structuring-civil-asset-forfeiture/

bitcoinrocks

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Quote from: IamNotSure on November 03, 2014, 12:24:37 PM

I'm still waiting to see a game that fully uses the potential of cryptos

Good call. I've been wondering what the killer app that "forces" Average Joe to buy BTC will be. Maybe a game.

IamNotSure

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Quote from: deliciousowl on November 03, 2014, 11:53:38 AM

Quote from: Matt Y on November 03, 2014, 11:38:15 AM

http://counterparty.io/news/counterparty-community-update-november-3-2014/

Ah, nice. I'm rather certain that regular community updates will clear up some of the mystery (suspense?) surrounding XCP. Doesn't hurt for getting indexed properly on Google either.

Also, this isn't related to the update, but I just noticed it on the forums:

"Spells of Genesis first commercial game using Counterparty"
https://forums.counterparty.io/discussion/774/spells-of-genesis-first-commercial-game-using-counterparty#latest

Excellent news. I'm still waiting to see a game that fully uses the potential of cryptos

deliciousowl

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Quote from: Matt Y on November 03, 2014, 11:38:15 AM

http://counterparty.io/news/counterparty-community-update-november-3-2014/

Ah, nice. I'm rather certain that regular community updates will clear up some of the mystery (suspense?) surrounding XCP. Doesn't hurt for getting indexed properly on Google either.

Also, this isn't related to the update, but I just noticed it on the forums:

"Spells of Genesis first commercial game using Counterparty"
https://forums.counterparty.io/discussion/774/spells-of-genesis-first-commercial-game-using-counterparty#latest

Matt Y

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Counterpartying

http://counterparty.io/news/counterparty-community-update-november-3-2014/

Equality 7-2521

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A difference which makes a difference

Looks like the price is back to what it was pre-SEC-FUD last week. > 0.012 BTC for 1 XCP.

deliciousowl

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Quote from: ?? on ??

Quote from: deliciousowl on November 03, 2014, 03:53:30 AM

Even though Warren Buffet hates Bitcoin, his work has helped me realize why Counterparty will succeed. You can see that it has a strong competitive advantage:

No fundraiser (avoids legal difficulties, ensures a fair distribution of coins, and gives the developers incentive)
Slightly deflationary
First mover advantage
Uses the Bitcoin blockchain, which has formidable network and security.

Damn it! I hate you are right! Grin

And because it uses the Bitcoin blockchain and is fully open-source, it is essentially anti-fragile. Compared to traditional finance, it has close to no operating costs whatsoever. In terms of being a technology, it fits the criteria of both Buffet's investing style, and Nassim Taleb's concept of anti-fragility. Bitcoin and XCP are a valuable and finite substrate for black swan events to occur. http://en.wikipedia.org/wiki/Black_swan_theory

You can see a validation of this in the all-time charts of Counterparty. After the burn event, there is a huge spike in value which slowly falls and becomes a very long period of calm. Then Overstock caused another sudden and unpredictable increment. It's not going to stop attracting such patterns, since the protocol continues to function regardless of pretty much any circumstance.

At least that's my reasoning for investing.

nakaone

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regarding regulatory framework:

besides xcp and bitcoin, what is issued on the counterparty protocol are IOUs - counterparty manages to minimize the clearinghouse risk, but you still need to trust the issuer of the IOU - this cries out for a mechanism to minimize the risk.

regulating the issuer is a useful step. when the direction of counterparty was not that clear back in march, someone proposed a decentralized rating agency to manage the risk explained above. I think if the regulation gets somewhat useful this project will be valueable in a way we cannot even imagine at this point of time.

deliciousowl

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Quote from: iCEBREAKER on November 02, 2014, 09:30:28 PM

Mmmm....yummy jackboots! I love licking delicious black polish off shiny authoritarian footwear.

Compliance with arbitrary coercion in exchange for personal profit is exactly what Satoshi intended to facilitate when he invented blockchain technology!

Who is personally profiting exactly? Apart from the government... Anyway, your statement is ridiculous and hyperbolic. Of course the devs are going to try and be compliant, are you mad? They are compliant because they don't want to break the law and go to jail.

Counterparty and Bitcoin are both open-source and have exactly the same philosophy. So if you want to ignore government regulation at your own peril, then go ahead. You can run your own counterpartyd or counterwallet and nobody can restrict anything whatsoever, since the blockchain is immune to manipulation by any central authority. But don't expect everyone else to follow suit, especially not those with a public identity.

Quote from: bassclef on November 02, 2014, 10:50:40 PM

That said I'm encouraged with the growth during the past few months. A positive sign at least from a speculation point of view.

Even though Warren Buffet hates Bitcoin, his work has helped me realize why Counterparty will succeed. You can see that it has a strong competitive advantage:

No fundraiser (avoids legal difficulties, ensures a fair distribution of coins, and gives the developers incentive)
Slightly deflationary
First mover advantage
Uses the Bitcoin blockchain, which has formidable network and security.

Matt Y

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Counterpartying

http://venturebeat.com/2014/11/02/the-2-biggest-emerging-opportunities-in-cryptocurrency/

Quote

These early talks led to an exciting session at the Stanford seminar, one where Paypal founder Max Levchin, Counterparty’s Robby Dermody, and Blockstream’s Austin and Adam all engaged in a class wide discussion. This was easily a highlight of the quarter as reviewed by pundit Tim Swanson.

bassclef

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Quote from: Fernandez on November 02, 2014, 01:52:57 AM

I am still very much backing Counterparty. Having said I am thinking of selling a small amount to recover my initial cost. In that way even if it doesn't become as good as we all believe, I will still not be at a loss.

Don't worry, its a tiny amount, it won't move the market.

No worries. It's a free market Cool

That said I'm encouraged with the growth during the past few months. A positive sign at least from a speculation point of view.

iCEBREAKER

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Crypto is the separation of Power and State.

Quote from: deliciousowl on November 01, 2014, 01:23:00 AM

Quote from: bitcoinrocks on October 31, 2014, 07:38:45 PM

Quote from: Anotheranonlol on October 31, 2014, 07:31:36 PM

I think CounterWallet is compliant as far as gambling goes (abides by some relevant national/regional anti-gambling laws by enforcing geo-ip restrictions)

Can anyone confirm this? If so, I'd consider it more great news as we wade into regulation.

Yes, a few other features are disabled through geo-ip restrictions as well.

Mmmm....yummy jackboots! I love licking delicious black polish off shiny authoritarian footwear.

Compliance with arbitrary coercion in exchange for personal profit is exactly what Satoshi intended to facilitate when he invented blockchain technology!

Fernandez

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Quote from: deliciousowl on October 31, 2014, 05:33:01 AM

Quote from: Fernandez on October 31, 2014, 01:59:10 AM

Confused about the whole SEC business. Still holding my burned coins but wondering whether I made a mistake of not cashing in.

I love the technology and the developers, but these regulations may be a huge problem Undecided

There is no information yet. Consider that in the end the regulations cannot affect the technology itself. And as long as the Bitcoin network exists, Counterparty will keep working. It's a minor setback but not a huge problem. Anyone seriously investing in this technology should have been able to see this coming.

In the end, places exist outside of the U.S, and there are many uses for tokens which do not fall under any regulation anywhere. I think to see what is occurring as an end of the world scenario shows a lack of resolve or ulterior motives.

I am still very much backing Counterparty. Having said I am thinking of selling a small amount to recover my initial cost. In that way even if it doesn't become as good as we all believe, I will still not be at a loss.

Don't worry, its a tiny amount, it won't move the market.

xnova

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Counterparty Developer

Quote from: bitcoinrocks on November 01, 2014, 05:11:15 AM

The foresight exhibited by this team is astonishing.

Thank you. And regarding the recent rumors of possible SEC enforcement action against numerous entities in the space (presumably based around unauthorized security offerings), the following link is rather apropos:

http://apps.americanbar.org/buslaw/newsletter/0014/materials/investmentch2.pdf

It’s rather short and well cited. In particular, “Investment Contracts and Instruments Commonly Known as Securities” on page 5 is good. I am not a lawyer and thus will not interpret this document here. However, it appears to be a good resource for anyone interested in the definition of a security, and how such a definition may apply to the various offerings in this space.

bitcoinrocks

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The foresight exhibited by this team is astonishing.

deliciousowl

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Quote from: bitcoinrocks on October 31, 2014, 07:38:45 PM

Quote from: Anotheranonlol on October 31, 2014, 07:31:36 PM

I think CounterWallet is compliant as far as gambling goes (abides by some relevant national/regional anti-gambling laws by enforcing geo-ip restrictions)

Can anyone confirm this? If so, I'd consider it more great news as we wade into regulation.

Yes, a few other features are disabled through geo-ip restrictions as well.

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 169. (Read 1276789 times)