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Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 215. (Read 1276789 times)

sr. member
Activity: 476
Merit: 300
Counterparty Chief Scientist and Co-Founder

Please let me know, if the Bitcoin-Qt route worked.

OK, thank you for the update and I will check it out, even though I managed to go this entire time without having to download bitcoin-qt on my computer.

The actual solution should be for Counterparty to fix their trading fees. They can't advertise the fee to be .0002 and then have it actually be .000356, even if they are not collecting the difference.

I like Counterparty, I understand this is all very new, complicated and prone to bugs, but there's a lot of work that still needs to be done before any of the devs should honestly expect regular people to be able to use their software platform.

In the meantime they should consider reducing the trading fees in order to incentivize users to continue working on an unreliable system. If they can't do this, surely they must see that people will flee to Mastercoin, NXT, Dogeparty or any of the dozens of clones with built-in AEs that offer more reliability and cheaper fees.

The fees are set by the Bitcoin network. If you want to pay a lower fee, and if you are willing to possibly wait a couple of blocks for your transactions to get confirmed, then you can do so with various command-line options in counterpartyd. The default fee has to be very generous, in any case, because it has to cover all possible use cases. Moreover, as soon as the majority of Bitoicn nodes switch over to Bitcoin Core 0.9.2, we'll be able to lower the default value by 10x.
legendary
Activity: 3010
Merit: 8114

Please let me know, if the Bitcoin-Qt route worked.

OK, thank you for the update and I will check it out, even though I managed to go this entire time without having to download bitcoin-qt on my computer.

The actual solution should be for Counterparty to fix their trading fees. They can't advertise the fee to be .0002 and then have it actually be .000356, even if they are not collecting the difference.

I like Counterparty, I understand this is all very new, complicated and prone to bugs, but there's a lot of work that still needs to be done before any of the devs should honestly expect regular people to be able to use their software platform.

In the meantime they should consider reducing the trading fees in order to incentivize users to continue working on an unreliable system. If they can't do this, surely they must see that people will flee to Mastercoin, NXT, Dogeparty or any of the dozens of clones with built-in AEs that offer more reliability and cheaper fees.
legendary
Activity: 1106
Merit: 1026
Hi Again,

So I asked to signrawtransaction, pressed enter and got these 2 errors:

SyntaxError: invalid syntax

TypeError: signrawtransaction() takes exactly 4 arguments (2 given)

How do I generate the signed hex number? Thanks again this has been quite educational.

Alright, I'm sorry for the misinformation.

Actually it looks like Electrum expected signrawrawtransaction("hex", ["privatekey"], "electrumpassword") (edit: this indicates that Electrum's signrawtransaction hsa a different behavior than Bitcoin Core and it doesn't expect a raw hex, but rather some transaction blueprint), but I was still not able to sign a transaction. I tried it with something standard, nothing special that involved multisig. :/

But: I missed the fact that you mentioned Bitcoin Qt. In the case you have a fully synced Bitcoin Core client available, it should be easy. Please follow this tutorial:

https://bitcointalksearch.org/topic/m.6336408

I really have to admit, this outlines the need for easier tools. For some time I wanted to make redeem.bitwatch.co more user friendly in general, but I also see the need for a simple "sign any transaction" tool with low overhead, so it's easy to audit. Unfortunally all this is not yet done. Wink

Please let me know, if the Bitcoin-Qt route worked.
legendary
Activity: 3010
Merit: 8114
Shouldn't the trading fees be corrected so they are actually .0002 BTC per trade (as it says in Counterwallet) as opposed to .000356 BTC per trade?

This is going to seriously hinder Counterparty's widespread adoption if the the trading fees can't be fixed.

In my opinion its a problem that needs to be fixed before anything else.
legendary
Activity: 882
Merit: 1002
sr. member
Activity: 335
Merit: 255
Counterparty Developer
You talk about sweeping? Please send me more details by PM or email.

Sent you all the logs yesterday, still unfortunately doesn't work.

Just sent you a PM.
legendary
Activity: 3010
Merit: 8114
I was actually trying to import the hex into Counterwallet, "sign transaction" but I'm not quite sure I know what I'm doing. I'll try it on bitcoin-qt a little later on. Thanks for the advice.

Aah I see. I'm not sure, if this is supported. For what it's worth: if you are using Electrum by any chance, then there is also an option to sign and broadcast transactions (UI console -> signrawtransaction("hex") -> sendrawtransaction("signedhex") --- if I recall correctly).

Hi Again,

So I asked to signrawtransaction, pressed enter and got these 2 errors:

SyntaxError: invalid syntax

TypeError: signrawtransaction() takes exactly 4 arguments (2 given)

How do I generate the signed hex number? Thanks again this has been quite educational.
member
Activity: 67
Merit: 10
 Smiley I have read it,nice article Smiley
legendary
Activity: 1106
Merit: 1026
I was actually trying to import the hex into Counterwallet, "sign transaction" but I'm not quite sure I know what I'm doing. I'll try it on bitcoin-qt a little later on. Thanks for the advice.

Aah I see. I'm not sure, if this is supported. For what it's worth: if you are using Electrum by any chance, then there is also an option to sign and broadcast transactions (UI console -> signrawtransaction("hex") -> sendrawtransaction("signedhex") --- if I recall correctly).
legendary
Activity: 3010
Merit: 8114

Which Bitcoin Core client verison are you using? If you like, send me the raw transaction and I'll take a look.


I was actually trying to import the hex into Counterwallet, "sign transaction" but I'm not quite sure I know what I'm doing. I'll try it on bitcoin-qt a little later on. Thanks for the advice.
hero member
Activity: 756
Merit: 502
You talk about sweeping? Please send me more details by PM or email.

Sent you all the logs yesterday, still unfortunately doesn't work.
legendary
Activity: 1106
Merit: 1026
Thank you for this! I appreciate it. For some reason I keep getting the message "invalid arguments" when trying to sign the hex string given at the bottom of the bitwatch results page. Do I accomplish this by using the "Sign Transaction" option under the address for which I am trying to recover BTC to, and pasting the hex string, or is there more to it than that?

Thanks again and I will check out the blockscan balances next.

Which Bitcoin Core client verison are you using? If you like, send me the raw transaction and I'll take a look.

The process is basically:

 - open redeem.bitwatch.co
 - paste your address into the input box
 - press "get unspent outputs"
 - copy the complete hex string at the bottom
 - power up bitcoin-qt, -cli
 - enter: signrawtransaction *hex*
 - no error should appear
 - copy this result
 - enter: sendrawtransaction *signedhex*
legendary
Activity: 3010
Merit: 8114
I'm guessing the extra amount in the fee is the unspent multisig output (a method of storing XCP data), which can be redeemed here: http://api.bitwatch.co/redeem (this functionality will soon be added to Counterwallet).
 
As for why you got an additional BTC credit, I'm not sure. Could you provide your BTC/XCP address or history? It may be a display bug in the new Counterwallet pre-release, while the actual balance may be accurate.

I suggest you look at your trades/credits and debits in http://blockscan.com, and if it still seems fishy, contact the developers. Smiley

Thank you for this! I appreciate it. For some reason I keep getting the message "invalid arguments" when trying to sign the hex string given at the bottom of the bitwatch results page. Do I accomplish this by using the "Sign Transaction" option under the address for which I am trying to recover BTC to, and pasting the hex string, or is there more to it than that?

Thanks again and I will check out the blockscan balances next.
sr. member
Activity: 432
Merit: 250
...I couldn't help but wonder the trading fees for orders involving XCP are listed in the buy/sell screens as .0002 BTC when the final fee comes out to .000356 BTC.

Update: after the BTC balance for the account conducting the trades had settled, the averaged fee was .000317 BTC... somehow I got back an additional .000039 BTC credit.

Thoughts?

I'm guessing the extra amount in the fee is the unspent multisig output (a method of storing XCP data), which can be redeemed here: http://api.bitwatch.co/redeem (this functionality will soon be added to Counterwallet).
 
As for why you got an additional BTC credit, I'm not sure. Could you provide your BTC/XCP address or history? It may be a display bug in the new Counterwallet pre-release, while the actual balance may be accurate.

I suggest you look at your trades/credits and debits in http://blockscan.com, and if it still seems fishy, contact the developers. Smiley
legendary
Activity: 3010
Merit: 8114
...I couldn't help but wonder the trading fees for orders involving XCP are listed in the buy/sell screens as .0002 BTC when the final fee comes out to .000356 BTC.

Update: after the BTC balance for the account conducting the trades had settled, the averaged fee was .000317 BTC... somehow I got back an additional .000039 BTC credit.

Thoughts?
legendary
Activity: 3010
Merit: 8114
Hi Guys,

I apologize if this question has been answered already, but I couldn't help but wonder the trading fees for orders involving XCP are listed in the buy/sell screens as .0002 BTC when the final fee comes out to .000356 BTC. At 11-12 cents a pop isn't such a big deal but at 20-21 cents, well, it becomes more expensive than some of the assets that are currently for sale, which is a heavy disincentive to list cheap assets in small or singular quantities.

I realize there has to be motivation for the network to process transactions, but would someone mind explaining why the fee is currently 78% higher than what is listed in market order screens?

Thanks for your help, it is appreciated.
sr. member
Activity: 335
Merit: 255
Counterparty Developer
Anyone knows why scrubbing does not work anymore?

Trying to import XPC's into counterwallet since the morning, and the process just stops on step 1.

You talk about sweeping? Please send me more details by PM or email.
hero member
Activity: 756
Merit: 502
Anyone knows why scrubbing does not work anymore?

Trying to import XPC's into counterwallet since the morning, and the process just stops on step 1.
hero member
Activity: 647
Merit: 510
Counterpartying


The price on this coin has been very stable especially compared to most alts. Good buy and hold.  Smiley

The market cap of Counterparty has doubled from the previous bottom, which occurred in early May.

Counterparty market cap in early May: $2,700,000

Counterparty market cap now: $5,600,000
full member
Activity: 126
Merit: 100


The price on this coin has been very stable especially compared to most alts. Good buy and hold.  Smiley
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