The fact that counterparty is still at an $11 million market cap despite the Byrne news is mind boggling. IMO should be 5 times that, as least as much as BitSharesX and probably where Litecoin is (10X). Byrne, some Mormons, and myself are going to make a killing on this thing.
Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 179. (Read 1276789 times)
October 20, 2014, 09:37:42 PM
October 20, 2014, 07:26:43 PM
EMC2 board is considering doing a promotion involving counterwallet, I'm told you guys would be the best people to go to for solid info.
Would you tell me more about how counterwallet works.
Also, what might be a good way to use counterwallet to promote our coin.
thanks
Would you tell me more about how counterwallet works.
Also, what might be a good way to use counterwallet to promote our coin.
thanks
Counterwallet is a deterministic web wallet that is compatible with Counterparty assets as well as bitcoin. I'm not sure how you could use Counterwallet to promote your coin.
There are a few videos on the Counterparty YouTube channel that will show you what Counterwallet is: https://www.youtube.com/channel/UC8L6aXXyobFGD2ADJVwRGoQ
October 20, 2014, 06:56:12 PM
EMC2 board is considering doing a promotion involving counterwallet, I'm told you guys would be the best people to go to for solid info.
Would you tell me more about how counterwallet works.
Also, what might be a good way to use counterwallet to promote our coin.
thanks
Would you tell me more about how counterwallet works.
Also, what might be a good way to use counterwallet to promote our coin.
thanks
EMC as in this international cloud computing organization? O_O
http://www.emc.com/corporate/emc-at-glance/corporate-profile/index.htm
October 20, 2014, 06:11:12 PM
I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp 
Which means XCP (being the currency representing a stake in the counter party protocol) will probably be able to be used to buy shares from these future companies just like btc will be accepted.
So...it is not certain that Medici will use xcp...all speculation
For the elements of the protocol medici requires to function that require XCP, XCP will be used. Beyond that, I can't comment.
October 20, 2014, 06:09:34 PM
XCP has been on a steady uptrend over the past couple of weeks. Nice to see, looks like this one is definitely a holder.
The supply is low which helps.
Was just checking today, almost 15x return over the average burn price.
The supply is indeed low. It would be silly to sell XCP now when Medici is just around the corner.
Are there any proposed timelines on when Medici is expected to be operational?
Patrick said three months for software and hopefully six months for regulatory work.
In reality it will be longer. There is more required for the initial release (especially around interaction with other systems). However, we are moving forward.
October 20, 2014, 05:21:42 PM
I am new so go easy on me. How will all this work? If someone buys "shares" of overstock through counterparty will they be transferable to an actual stock exchange, or are they only able to be traded through the counterparty platform?
Counterparty is simply the protocol Overstock happens to be using to create decentralized stock/share trading software. No one knows yet exactly how it will function or how it will look. Most likely digital shares will be proprietary to a digital trading platform though. I could see business opportunity for trading those shares to a traditional trading platform (NASDAQ, etc).
Ok I understand, thanks for the clarification!
October 20, 2014, 04:15:12 PM
I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp
Which means XCP (being the currency representing a stake in the counter party protocol) will probably be able to be used to buy shares from these future companies just like btc will be accepted.
So...it is not certain that Medici will use xcp...all speculation
Yes but I can almost say with certainty that xcp will be able to be used even without working for overstock or counterparty. Keep in mind XCP shows stake in the groundwork of counterparty. If you were a company planning to sell equity of your business on the land that is counterparty then ofcourse it's tokens will be desired. I will be HIGHLY surprised if XCP doesn't end up being one of the forms of tokens accepted at inception of Medici stock market launch.
October 20, 2014, 04:11:04 PM
I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp
Which means XCP (being the currency representing a stake in the counter party protocol) will probably be able to be used to buy shares from these future companies just like btc will be accepted.
So...it is not certain that Medici will use xcp...all speculation
October 20, 2014, 04:08:40 PM
I am new so go easy on me. How will all this work? If someone buys "shares" of overstock through counterparty will they be transferable to an actual stock exchange, or are they only able to be traded through the counterparty platform?
Counterparty is simply the protocol Overstock happens to be using to create decentralized stock/share trading software. No one knows yet exactly how it will function or how it will look. Most likely digital shares will be proprietary to a digital trading platform though. I could see business opportunity for trading those shares to a traditional trading platform (NASDAQ, etc).
October 20, 2014, 04:04:44 PM
Quote
I am new so go easy on me. How will all this work? If someone buys "shares" of overstock through counterparty will they be transferable to an actual stock exchange, or are they only able to be traded through the counterparty platform?
You are most likely going to have to be registered to buy stocks on the medici platform which is not the same front end as counterwallet. Sounds like medici is the stock exchange itself, and will not need to be transfered to an "actual" stock exchange as merdici will be one, at least that is how I understand it.
October 20, 2014, 04:02:00 PM
I am new so go easy on me. How will all this work? If someone buys "shares" of overstock through counterparty will they be transferable to an actual stock exchange, or are they only able to be traded through the counterparty platform?
October 20, 2014, 04:00:50 PM
Quote
Wow thanx 4 clarification...IDIOT
wow thanks for taking it to heart.You see the reason I am laughing is that you have a point.
Without going into great detail overstock wants to have less fraud and manipulation on the stock markets and make things more transparent by using blockchain technology. It makes it harder to front run orders and other typical cheating that happens in the legacy markets. How exactly that should all work and how well it will work with off chain parts of the market, who knows.
October 20, 2014, 03:58:23 PM
I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp
On the protocol level, XCP is required for certain functions. As I understand it, a .5 XCP "burn" is required create a new digital asset. Obviously this fee scales with XCP value so you don't run out.
So those sitting on XCP are doing so primarily to sell to companies/individuals looking to use the Counterparty protocol to create a platform for digital assets in the future. They are also "shareholders" in the protocol that will be able to vote future changes. Like a decentralized board.
October 20, 2014, 03:57:58 PM
I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp
Allow me to clarify, medici is not about overstock selling stock. Medici is going to be a complete virtualized version of wallstreet (which means a decentralized platform 'peer to peer' which actually follows regulations where companies all over the world will be able to sell their shares directly to investors without all the bs middle men/brokers that normal wall street investors have to deal with.) Overstock CEO had decided to build this "wallstreet" using the Counterparty protocol. Which means XCP (being the currency representing a stake in the counter party protocol) will probably be able to be used to buy shares from these future companies just like btc will be accepted.
Patrick was asked why not use one of the other protocols to build their decentralized wall street and he simply said that when he met the guys in charge of counterparty he felt that they vibed best :p
October 20, 2014, 03:53:57 PM
Quote
I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp Huh
LOL
Wow thanx 4 clarification...IDIOT
October 20, 2014, 03:47:16 PM
I don't understand if overstock sells stock couldnt you just buy with usd why is everyone buying xcp
October 20, 2014, 03:45:07 PM
One thing Patrick (CEO of Overstock) does mention though, is that as soon as they launch medici they (overstock) will be the first company to list it's shares publicly on the platform so we will be able to immediately start buying overstock...stock
I will be all over overstock stock.
October 20, 2014, 02:55:44 PM
XCP having no ongoing issuance makes it particularly pure from a speculation/manipulation point of view. There are no miners who need to dump it to pay for electricity. So I think we could see some even more extreme bubbles in it than we've seen with Bitcoin and alts.
To Equality's point about XCP requiring little volume to maintain price, that knife cuts both ways. It also only takes 50 btc worth of XCP to crash the price to 0.006. So the risk is considerable even as the implementation, utility, and adoption of the protocol itself are very impressive.
To Equality's point about XCP requiring little volume to maintain price, that knife cuts both ways. It also only takes 50 btc worth of XCP to crash the price to 0.006. So the risk is considerable even as the implementation, utility, and adoption of the protocol itself are very impressive.
Point taken.
Will medici (which Overstock is building) have an IPO?
I just want to shed some light based on all the podcasts and videos I've listened to Patrick Byrne talk about Medici. First off to have an ipo makes medici sound like a business rather than a platform. Medici is specifically going to be a virtualized version of wallstreet. One thing Patrick (CEO of Overstock) does mention though, is that as soon as they launch medici they (overstock) will be the first company to list it's shares publicly on the platform so we will be able to immediately start buying overstock...stock
***EDIT***
One more thing, and this is why I see XCP rising in price dramatically in the future, potentially larger than bitcoin. XCP represents a stake in the protocol itself right? The way I think of it is this, if overstock succeeds in creating a bitcoin wallstreet and hundreds and thousands of startups and other companies begin to desire to use their platform (which is run on counterparty) to list their shares online then people with XCP will essentially be equivalent to in the physical world owning actual land in wallstreet that someone wants to use for their business. Oh, you want to work here on wallstreet? Well I have some land here I'm willing to trade you to get your business up and running, just slide me over some equity in your company lol.
I think viewing XCP ownership as land ownership is conceptually a good idea. XCP has very real utilities.
October 20, 2014, 02:49:14 PM
Speaking of upward pressure on XCP, have you guys seen this?
"bitSIM will enable anyone with a mobile phone to securely own and perform Counterparty and Bitcoin transactions and streamline access and control of their Blockchain Assets. Vennd.io will provide the basis for liquidity providers to list their assets on a secondary market rather than a centralized registry. Details of the first instrument to be listed for sale will be released in the following weeks."
http://www.bitsim.co/
"bitSIM will enable anyone with a mobile phone to securely own and perform Counterparty and Bitcoin transactions and streamline access and control of their Blockchain Assets. Vennd.io will provide the basis for liquidity providers to list their assets on a secondary market rather than a centralized registry. Details of the first instrument to be listed for sale will be released in the following weeks."
http://www.bitsim.co/
I don't see Counterparty mentioned on the bitsim site
It's not mentioned on their site yet. They're using Vennd to access Counterparty. See both of these articles:
http://bravenewcoin.com/news/connecting-the-dots-how-bitcoin-is-reinventing-wall-st/
http://bravenewcoin.com/news/vennd-powers-next-gen-crowd-funding/
And the bitSIM founder's tweet: https://twitter.com/Leon_Vandenberg/status/524067638968717313
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