2. It's going to be built on Counterparty and as part of the Counterparty platform.
On Counterparty network or on Counterparty code?
On the Counterparty network. Not a fork. As much a part of Counterparty as possible.
Is there a link to words of Patrick Byrne regaring this issue? People that know how business is done won't believe that a CEO agrees to lose even a small part of the control they have. For XCP holders it may mean only 2 things:
1. Patrick will buy 99% of all XCP to remove even a small chance that other XCP holders could manipulate the market.
2. XCP won't affect Medici at all and hence will be unusable here, more likely trades will be done directly in BTC and in the best case XCP will be used to pay transaction fee (subject to 7 tx/sec limit).
Phantom addressed this earlier in the thread. Search the last few pages or so and you'll find it.
1. Wouldn't he need to do the same for dollars then?
2. It's easier to use XCP on the DEx. Transaction fees on the Bitcoin network cannot be paid in XCP.
Regarding the first point, Overstock buying 99% of XCP, or at least a very good stake :
1/ Why wouldn't Patrick Byrne buy every XCP possible, especially weeks before Medici is released, or before a new issuance. Others companies are planned, he will be the first to know, and the more documented.
Did you notice that every XCP under 0.0050 have been bought last weeks ? I can't see any rational argument against Overstock accumulating XCP.
2/ It is not the same as buying dollars. XCP supply is limited and deflationary, on contrary of Dollar. BTC comparing to XCP is a better comparison, and obviously, it was right to buy BTC in the earlier stages.
3/ He said he would create a multi-billion company, as big as Alibaba. As somebody wrote, with this kind of ambition, I would hazard nothing.
The real hurdle is that liquidity is low, so buying a minor stake could cost a huge amount.
Furthermore, the only (honnest) way to buy at cheapest prices under the radar, is to release no significant news for weeks.
