More info regarding off-chain -> on-chain part would be welcome. Ripple works good enough without a blockchain, so the solution looks feasible. How often is it planned to unload the data to XCP? Will Overstock be the only party controlling the servers? What TPS rate is planned in the beginning? A lot of questions, more tech info regarding the architecture would help a lot.
[00:30:07] Jonathan Briasco: It's not going to be a fork, le-grande1
[00:30:15] Coinstructors: and something like the secureae of NXT
[00:30:27] Jonathan Briasco: Overstock are merely building a frontend to the Counterparty Distributed Exchange
[00:30:38] Coinstructors: yes like secureae
[00:30:40 | Edited 00:30:56] Ruben Alexander (Bitcoin Magazine): I am only posting that link in terms of the "insider trading argument". I have heard that article isn't accurate.
[00:30:41] Coinstructors: on nxt
[00:30:53] Coinstructors: I was in 3 meeting today in london
[00:30:56] Evan Stern: Congratulations, Counterparty.
[00:31:05] Coinstructors: 3 financial service providers
[00:31:14] Coinstructors: they asked about overstck
[00:31:26] Coinstructors: fork or no fork
[00:31:53] :Matt: On 10/7/14, at 4:29 PM, Coinstructors wrote:
> ruours are that its going to be a fork
no. not a fork.
[00:31:54] Jonathan Briasco: Right, definitely no fork. I'm in direct contact with Robby, Adam, and Evan; I can say that qualitatively
[00:31:56] Coinstructors: as they sed 10 ins blockchain for assets is not going to work
[00:32:26] Jonathan Briasco: Well that's just, like, their opinion, man
[00:32:30] Jonathan Briasco:
[00:34:14] Coinstructors: well possibly
[00:34:37] Coinstructors: but i would say stress testing would be better
[00:34:44] Coinstructors: on the blockchain
[00:34:53] Coinstructors: overstock
[00:34:56] Coinstructors: trading
[00:35:10] Coinstructors: will be big vvolumes of tradng per secnd
[00:35:27] Jonathan Briasco: If you'd like, please feel free to give them my email address and I'll be more than happy to answer their questions:
[email protected][00:36:11] Coinstructors: you can anser my to my qeustions as i handle the technical side
[00:36:29] Coinstructors: we can do a conference call later
[00:37:28] Nick Rathman: not every single transaction needs to be on the blockchain. if its just a platform they are building, most of the trades etc. could happen locally, and then push out to the blockchain periodically or something, idk
[00:38:08] Jonathan Briasco: Nick: Exactly, I think we'll see a few services aimed at the finance sector that offer off-chain trading, the results of which then get pushed out in a given block
[00:38:15] Xavier Hawk: just chiming in, not affiliated with CP, @coinstructors.....The Blockchain is great as a time stamping tool. Trades can be done securely off blockchain...and recorded on chain. there are numerous ways to go about it
[00:38:26] Coinstructors: therefore you need a centralised chin to do that
[00:38:44] Xavier Hawk: or Bitcoin
[00:38:55] Xavier Hawk: and its not centralized
[00:39:10] Coinstructors: any latency
[00:39:15] Coinstructors: is not good
[00:39:17] Jonathan Briasco: One major advantage to Counterparty, I think, is that it makes HFT almost impossible, at least on the main chain
[00:39:53] Coinstructors: can cp handle 25 TPS
[00:39:56] Xavier Hawk: Transactions can be done in 1000ths of a sec off chain, and then ledgered on chain
[00:40:34] Xavier Hawk: either way...thats me chiming in. hope it helps. cheers
[00:40:52] Coinstructors: bit therefore its not on the blockchain
[00:41:08] Coinstructors: to date no crypto has been stessed tested fo this
[00:41:28] Coinstructors: hence regulators will use this
[00:41:33] Coinstructors: against overstock
[00:41:59] Jonathan Briasco: Coinstructors: Overstock is working directly with the SEC and FTC to make this happen, there's a lot of support for it at the governmental level
[00:42:30] Coinstructors: I know that
[00:42:32] Coinstructors: already
[00:42:32] Jonathan Briasco: I think your objections are based on the old way of doing things, because this isn't a good way to do things from the perspective of a financial monolith
[00:42:34] Nick Rathman: I could imagine something where it tries and match up and handle trades in the local database as best it can, and then push stuff out to the DEX for the rest of it
[00:42:38] Coinstructors: as i a speaking to the sfc
[00:42:42] Coinstructors: eu
[00:42:46] Coinstructors: side as well
[00:42:53] Jonathan Briasco: Well if you know that already then why are you talking about regulators moving against Overstock?
[00:42:54] Coinstructors: they wat instant chain
[00:43:16] Coinstructors: i have already spoken to judd at overstock
[00:43:42] Coinstructors: im not speaking againt overstock
[00:43:45] Susanne Tarkowski Tempelhof [ Ƀitnation ]: so STOKED for you guys CP great work and thrilled to be part of the CP token family (soon!)
[00:43:48] Coinstructors: if they pull it off better for me
[00:43:59] Coinstructors: I have 7 companies wanting to do the same
[00:45:02] Jonathan Briasco: Excellent, you should get in contact with us over at vennd.io to automate your asset sales
[00:45:27 | Edited 00:45:51] Coinstructors: but eu side is not the same as the US side
[00:45:30] Coinstructors: not the same
[00:45:50] Jonathan Briasco: That's very true
[00:46:27] Coinstructors: and the US changes its underwear like a anything else but todays
[00:46:37] Coinstructors: same as EU
[00:49:09] Coinstructors: all thats going to happen is very simple a web portal on a blockchain or fork
[00:49:24 | Edited 00:49:34] Coinstructors: addeing KYC and AmL
[00:49:43] Coinstructors: you get rid of bankking costs
[00:49:50] Coinstructors: but not the brokers
[00:49:56] Coinstructors: as the brokers need to be there
[00:49:58] Coinstructors: SEC
[00:50:03] Coinstructors: willsay that
[00:50:05] Coinstructors: period
