[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 195.

Equality 7-2521

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A difference which makes a difference

Quote from: masternode on October 06, 2014, 03:39:25 PM

Quote from: Equality 7-2521 on October 06, 2014, 02:05:38 PM

Quote from: ?? on ??

I'm saying people will choose a more secure network over one that is less secure. If you want speed, you go off-chain.

This is quite right. Security of the protocol is absolutely paramount now. Speed and, crucially, flexibility are technological challenges that will be solved. Side-chains and tree-chains will be powerful tools to help solve these challenges.

Agreed. Tree-chains is why Viacoin (which Clearinghouse runs on) hired bitcoin core dev Peter Todd.

Exactly, so the block-time*** will be rendered a moot point in the "Viacoin-versus-Bitcoin-as-a-Higher-Level-Protocol-host" debate because application specific (e.g. fast) blockchains (e.g. side-chains and tree-chains) will be rolled out as required.

Hence, all other things being equal - Bitcoin is practically a more viable host as it is (currently) more secure.

***Let's not forget that confirmation (i.e. confidence) times are more important than block-times.

masternode

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Quote from: Equality 7-2521 on October 06, 2014, 02:05:38 PM

Quote from: ?? on ??

I'm saying people will choose a more secure network over one that is less secure. If you want speed, you go off-chain.

This is quite right. Security of the protocol is absolutely paramount now. Speed and, crucially, flexibility are technological challenges that will be solved. Side-chains and tree-chains will be powerful tools to help solve these challenges.

Agreed. Tree-chains is why Viacoin (which Clearinghouse runs on) hired bitcoin core dev Peter Todd.

prophetx

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he who has the gold makes the rules

Quote from: DailyModo on October 06, 2014, 02:18:20 PM

Hey guys here's a review from Coin-Network.com http://coin-network.com/a-brief-review-of-the-phenomenon-known-as-counterparty/ Hope you enjoy it

Quote

Counterparty relies on the XCP currency whereas other platforms with the same purposes work directly on Bitcoin, so you don’t have to get price exposure or volatility risk with a new currency when you use them.

hmm i worked at mastercoin and invested in counterparty, and also researched colored coins, as well as many other initiatives, and this sentences makes absolutely no sense to me.

prophetx

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Activity: 1666

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he who has the gold makes the rules

Quote from: IamNotSure on October 06, 2014, 02:08:14 PM

Quote from: dexX7 on October 06, 2014, 01:32:40 PM

Hey guys,

I updated redeem.bitwatch.co and now it's compatible with Counterwallet.

If you want to reclaim some transaction costs check out the tutorial on imgur by clicking on the picture..

Direct links:

Redeem unspent multisig outputs: http://redeem.bitwatch.co

How to reclaim transaction costs tutorial: http://imgur.com/a/YWKaV

cool, I was waiting this from a long time

Time to collect some dust Wink

this 70 cents worth of btc i found maybe worth millions one day

awesome tool

DailyModo

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www.gamebet.gg

Hey guys here's a review from Coin-Network.com http://coin-network.com/a-brief-review-of-the-phenomenon-known-as-counterparty/ Hope you enjoy it

IamNotSure

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Quote from: dexX7 on October 06, 2014, 01:32:40 PM

Hey guys,

I updated redeem.bitwatch.co and now it's compatible with Counterwallet.

If you want to reclaim some transaction costs check out the tutorial on imgur by clicking on the picture..

Direct links:

Redeem unspent multisig outputs: http://redeem.bitwatch.co

How to reclaim transaction costs tutorial: http://imgur.com/a/YWKaV

cool, I was waiting this from a long time

Time to collect some dust Wink

Equality 7-2521

member

Activity: 118

Merit: 10

A difference which makes a difference

Quote from: ?? on ??

I'm saying people will choose a more secure network over one that is less secure. If you want speed, you go off-chain.

This is quite right. Security of the protocol is absolutely paramount now. Speed and, crucially, flexibility are technological challenges that will be solved. Side-chains and tree-chains will be powerful tools to help solve these challenges.

dexX7

legendary

Activity: 1106

Merit: 1026

Hey guys,

I updated redeem.bitwatch.co and now it's compatible with Counterwallet.

If you want to reclaim some transaction costs check out the tutorial on imgur by clicking on the picture..

Direct links:

Redeem unspent multisig outputs: http://redeem.bitwatch.co

How to reclaim transaction costs tutorial: http://imgur.com/a/YWKaV

masternode

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Activity: 443

Merit: 250

Quote from: ?? on ??

Quote from: masternode on October 06, 2014, 12:10:06 PM

Quote from: romerun on October 06, 2014, 12:06:30 PM

Yea we have dogcoin chinacoin with faster blocktime and they are superior to bitcoin right

If everything else among dogecoin and china coin were equal to that of BTC than yes, they would be superior coins.

Matt Y even said it himself "The usability of both wallets is practically identical as well. So again, the only advantage XCH has, is speed."

To dismiss speed as a non-factor is pretty absurd. Not only is it a facor, it is a major factor in almost any product or industry I can think of. The markets will either show speed is important in this case or it isn't. I'm willing to bet strongly it is.

The problem with the speed argument is... faster is never fast enough when it comes decentralized block chains. You're not going to have real-time settlement that you can trust no matter how fast your blocks are targeted to be produced.

Ok, so because you can't have real time settlement no matter what, then the markets will choose a slower option over a faster option? I don't buy it. While it's not absolute, it's a pretty safe bet that people will choose a faster option, even if it's not real-time settlement. This has been proven over and over again in the markets.

masternode

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Quote from: romerun on October 06, 2014, 12:06:30 PM

Yea we have dogcoin chinacoin with faster blocktime and they are superior to bitcoin right

If everything else among dogecoin and china coin were equal to that of BTC than yes, they would be superior coins.

Matt Y even said it himself "The usability of both wallets is practically identical as well. So again, the only advantage XCH has, is speed."

To dismiss speed as a non-factor is pretty absurd. Not only is it a factor, it is a major factor in almost any product or industry I can think of. The markets will show either that speed is important in this case or it isn't. I'm willing to bet strongly it is. But then again, I still own some of both in case it isn't.

romerun

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Bitcoin is new, makes sense to hodl.

Yea we have dogcoin chinacoin with faster blocktime and they are superior to bitcoin right

Matt Y

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Counterpartying

Quote from: masternode on October 06, 2014, 11:53:02 AM

This is absolutely not true. The speed with which you can use Clearinghouse vs. Counterparty make counterparty an inferior choice. Trust me, I've used both quite a bit, and upon realizing this, I sold a good portion of my XCP holdings (yes hate me if you want).

I contend that other things more than make up for Bitcoin's slow block time, but I understand your point of view. Good luck.

masternode

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Quote from: Matt Y on September 28, 2014, 11:17:13 AM

Quote from: prophetx on September 28, 2014, 06:42:27 AM

Quote from: jonny1000 on September 27, 2014, 01:53:35 PM

Quote from: deliciousowl on September 27, 2014, 08:55:26 AM

I feel like complaining about BTC being too slow completely and entirely misses the point and magnitude of its innovative properties. It's like being suddenly confronted with a flat screen HD TV when the pinnacle of technology you've encountered was a radio, and the only thing you have to say is "ah but you can't smell the contents". Roll Eyes

Bank to bank transfers across countries take days if not weeks.
Bank to bank transfers in the same bank take like 10 minutes.
Credit card transactions take months to confirm.

It's really ridiculous, and the only people that HFT benefits are those with tons of money to begin with.

Besides, absolutely nobody is stopping people from creating a very low latency Counterparty asset exchange(s) (off-chain).

+1
I could not agree more, 10 minutes if fine for almost all normal uses, people need to learn a bit of patience.

i call bullshit.

i have been using counterwallet, dogeparty and clearinghouse lately to gather info for a report i am writing, and i have to say XCH is the best out of the 3

not only is it fast, but the dev's are responsive and have fixed some of the issues with the wallet.

it is a BREEZE to use. i know there is a slight advantage to be using BTC for dividend payments, but not having to sit there and waste 10 minutes of your life that has real value to people.

I re-call bullshit?

Counterparty devs are responsive, not to mention one of the fastest dev teams out there AND one of the only dev teams that not only works for free, but also spends their own personal funds to move a project forward.

When you make a dividend payment with Counterparty, you are not required to wait 10 minutes for it to go through, you can just walk away and reclaim that 10 minutes of your life and the transaction will go through without you. The same time is spent either way.

The usability of both wallets is practically identical as well. So again, the only advantage XHC has, is speed.

The speed with which you can use Clearinghouse vs. Counterparty make Counterparty an inferior choice. Over time the markets will show this. You act as if speed is a trivial aspect that shouldn't differentiate them much. Trust me, I've used both quite a bit, and upon realizing this, I sold a good portion of my XCP holdings (yes hate me if you want).

delulo

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Quote from: Matt Y on October 05, 2014, 03:46:25 PM

Quote from: delulo on October 05, 2014, 02:34:47 PM

Thanks for the heads up on the Overstock question.

What is Counterparty's current stand on

1) Moving away from the Bitcoin blockchain:
- How likely is it that you will do that if there is no absolute necessity?
- Do you have SPECIFIC backup plans where to move in case it becomes necessary or at least advisable?

2) Price feeds:
- What is your take on price feeds and do you have plans to "decentralize" them in some way? Goal here: Do not (entirely) depend on one individual/company that broadcasts the feed.
- Is there some in detail post / paper that describes how non volatile crypto assets (like BitUSD in BitsharesX) could be possible with price feeds in counterparty ?

Thanks for sharing and taking the time.

1. It should be noted that while I volunteered full-time with Counterparty for a number of months, I'm not privy to any inside information anymore. I recall Adam saying that switching blockchains is fairly trivial, but that he would be very unlikely to do that as the advantage of being on Bitcoin is a big one. I would assume that Adam, Robby, and Evan have specific backup plans, yes.

2. I think there is work being done on decentralizing oracles somehow, but I'm not the person to ask about that. There is no post like that, but I don't think it would be that complicated. You would just back your USD coin with dollars and then pull the price of dollars vs X from somewhere via an API or something?

Thanks Matt!

I don't know how open the (idea) development process is. I would appreciate more info on these (imo) crucial issues.

As for (2): The goals I have in mind are: Decentralizing the price feed (=not relying on one party to provide it) and getting rid of ONE counterparty to back the dollar token with real USD. BitSharesX is doing something like that but I was thinking whether something with a similar functional output is possible with counterparty (e.g. by contracts for difference) but I was not thinking super far Wink

Matt Y

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Activity: 647

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Counterpartying

Quote from: delulo on October 05, 2014, 02:34:47 PM

Thanks for the heads up on the Overstock question.

What is Counterparty's current stand on

1) Moving away from the Bitcoin blockchain:
- How likely is it that you will do that if there is no absolute necessity?
- Do you have SPECIFIC backup plans where to move in case it becomes necessary or at least advisable?

2) Price feeds:
- What is your take on price feeds and do you have plans to "decentralize" them in some way? Goal here: Do not (entirely) depend on one individual/company that broadcasts the feed.
- Is there some in detail post / paper that describes how non volatile crypto assets (like BitUSD in BitsharesX) could be possible with price feeds in counterparty ?

Thanks for sharing and taking the time.

1. It should be noted that while I volunteered full-time with Counterparty for a number of months, I'm not privy to any inside information anymore. I recall Adam saying that switching blockchains is fairly trivial, but that he would be very unlikely to do that as the advantage of being on Bitcoin is a big one. I would assume that Adam, Robby, and Evan have specific backup plans, yes.

2. I think there is work being done on decentralizing oracles somehow, but I'm not the person to ask about that. There is no post like that, but I don't think it would be that complicated. You would just back your USD coin with dollars and then pull the price of dollars vs X from somewhere via an API or something?

delulo

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Activity: 441

Merit: 250

Thanks for the heads up on the Overstock question.

What is Counterparty's current stand on

1) Moving away from the Bitcoin blockchain:
- How likely is it that you will do that if there is no absolute necessity?
- Do you have SPECIFIC backup plans where to move in case it becomes necessary or at least advisable?

2) Price feeds:
- What is your take on price feeds and do you have plans to "decentralize" them in some way? Goal here: Do not (entirely) depend on one individual/company that broadcasts the feed.
- Is there some in detail post / paper that describes how non volatile crypto assets (like BitUSD in BitsharesX) could be possible with price feeds in counterparty ?

Thanks for sharing and taking the time.

baddw

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Activity: 700

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Eligius held their IRC meeting on mining policy today.

https://bitcointalksearch.org/topic/m.9083335

It was decided to allow 80-byte OP_RETURN (i.e. Eligius will include transactions with up to 80 bytes OP_RETURN) and to disable bare multisig, among other things which could impact Counterparty. Of course, Eligius is now mining only a small percentage of bitcoin blocks, but I think it's significant that Luke-jr is amenable to 80-byte OP_RETURN and he is also a Bitcoin core developer, besides being in a position to influence other pools. Given this, it might soon be possible for Counterparty to rely on 80-byte OP_RETURN.

xnova

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Counterparty Developer

Quote from: LordMeowMeow on October 04, 2014, 12:17:37 PM

Quote from: Matt Y on October 04, 2014, 12:11:05 PM

The new site is live and it looks awesome!

http://counterparty.io/

Great work, XCP team. That's one nifty site.

Thanks for the Humint team (Wendell, Lars, Matt and crew) for putting the site together. Great job.

LordMeowMeow

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Quote from: Matt Y on October 04, 2014, 12:11:05 PM

The new site is live and it looks awesome!

http://counterparty.io/

Great work, XCP team. That's one nifty site.

Matt Y

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Activity: 647

Merit: 510

Counterpartying

The new site is live and it looks awesome!

http://counterparty.io/

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 195. (Read 1276789 times)