Overstock could be the first out-of-crypto company issuing an asset on Counterparty which is great but I still don't fully understand what exactly Overstock is planning to do:
Have their stock traded on Counterparty instead of at the NYSE? Or in parallel? Will a separate type of Overstock stock be issued?
Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 221. (Read 1276789 times)
July 31, 2014, 05:26:06 AM
July 31, 2014, 03:17:14 AM
FWIW: https://docs.google.com/spreadsheets/d/1ZenAAlcp4PPQMcG0NBWaqRuNc66vr8x8nNZZt3MA9Yo/edit?usp=sharing + imgur
For those why may remember this post - the number of 35M was actually not the number of multisig outputs, but rather the total number of all transactions.
TL;TR: proofofexistence.com appears to create more OP_RETURN outputs than OpenAssets/CoinPrism, almost all multisig outputs in the last months were created by applications on top of the blockchain and only 18 % of those multisig outputs are spent. Chancecoin is the clear winner in this discipline with a ratio of 58 % of redeemed multisig outputs. Mastercoin pretty much flatlines for some time now, Counterparty goes exponentially through the roof. Since March the number of application related transactions has increased significantly, but the overall footprint is hilarious. Over 99 % of all outputs are pay-to-pubkey-hash outputs and I could map only less than 0.2 % of all transactions to applications. The overall number of unspent outputs has risen from 9.819.223 to a total of 115.229.897 within the last three-four months. -- All data based on blocks with a height between 0-312999.
More data and all raw data is available in the above linked Google Docs document, but that were mostly the interesting parts.
July 30, 2014, 01:49:57 PM
Anyone else getting this error when you try and look at asset trading. Been getting it for a couple hours now
"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"
Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.
"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"
Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.
thanks for report. Just push a fix on github.
Does it still need to go live? Still getting the error.
Bump for this. Just tested again and still getting the same error. Seems to only be for the market where I have a sell order outstanding.
I've created a GitHub issue for it: https://github.com/CounterpartyXCP/counterwallet/issues/314
Thanks for the bug report!
Yes, this has been fixed, but the fix hasn't been pushed to production yet. Will most likely this evening or tomorrow.
July 30, 2014, 01:48:10 PM
I have XCP and I'm trying to buy BTC.
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
That's not it. Rather, all transactions involving BTC take a long time to settle, and are somewhat unreliable still (because the person selling BTC has to stay logged in to Counterwallet for the trade to go through).
Wow seriously? Is it even safe to attempt to use this? I had some orders partially matched and haven't received the BTC. Are people getting paid my XCP with no guarantee that I receive the BTC?
The problem is compounded by the fact that I can't cancel orders - my XCP don't get refunded.
We have a feature in the design phase that will make it unnecessary for folks to stay logged in for BTCPays, and should massively improve the ease of use of markets where BTC is involved.
July 30, 2014, 11:42:53 AM
Anyone else getting this error when you try and look at asset trading. Been getting it for a couple hours now
"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"
Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.
"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"
Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.
thanks for report. Just push a fix on github.
Does it still need to go live? Still getting the error.
Bump for this. Just tested again and still getting the same error. Seems to only be for the market where I have a sell order outstanding.
I've created a GitHub issue for it: https://github.com/CounterpartyXCP/counterwallet/issues/314
Thanks for the bug report!
July 30, 2014, 11:40:13 AM
Anyone else getting this error when you try and look at asset trading. Been getting it for a couple hours now
"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"
Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.
"failoverAPI: Call failed (failed over across all servers). Method: get_market_details; Last error: undefined"
Update: Can look at a few markets but whenever I try and look at LTBCOIN/BTC (where I have a sell order), I get this error.
thanks for report. Just push a fix on github.
Does it still need to go live? Still getting the error.
Bump for this. Just tested again and still getting the same error. Seems to only be for the market where I have a sell order outstanding.
July 30, 2014, 11:30:17 AM
http://www.wired.com/2014/07/overstock-and-cryptocurrency/
"Overstock has already held extensive discussions with a company called CounterParty, which offers software that could help drive such a cryptosecurity..."
+1"Overstock has already held extensive discussions with a company called CounterParty, which offers software that could help drive such a cryptosecurity..."
This in deed is great news!
Well, if Counterparty was not invented, the overstock CEO would have a hard time picking between the underconstructed MSC and those 2.0 platform on obscure chains, bitsharex / nxt / ethereum. Counterparty have done Bitcoin a solid to lead on the 2.0 space.
July 30, 2014, 11:04:39 AM
I have XCP and I'm trying to buy BTC.
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
That's not it. Rather, all transactions involving BTC take a long time to settle, and are somewhat unreliable still (because the person selling BTC has to stay logged in to Counterwallet for the trade to go through).
Wow seriously? Is it even safe to attempt to use this? I had some orders partially matched and haven't received the BTC. Are people getting paid my XCP with no guarantee that I receive the BTC?
The problem is compounded by the fact that I can't cancel orders - my XCP don't get refunded.
It's perfectly safe! If the other side of the deal doesn't pay you the Bitcoin, then they don't get your XCP; your XCP will be returned to you automatically when the order match expires (in twenty blocks).
July 30, 2014, 11:02:44 AM
I have XCP and I'm trying to buy BTC.
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
That's not it. Rather, all transactions involving BTC take a long time to settle, and are somewhat unreliable still (because the person selling BTC has to stay logged in to Counterwallet for the trade to go through).
Wow seriously? Is it even safe to attempt to use this? I had some orders partially matched and haven't received the BTC. Are people getting paid my XCP with no guarantee that I receive the BTC?
The problem is compounded by the fact that I can't cancel orders - my XCP don't get refunded.
July 30, 2014, 10:52:01 AM
Biggest daily volume on BTER already, time to grab some XCP while they're cheap...
July 30, 2014, 10:49:20 AM
I have XCP and I'm trying to buy BTC.
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
That's not it. Rather, all transactions involving BTC take a long time to settle, and are somewhat unreliable still (because the person selling BTC has to stay logged in to Counterwallet for the trade to go through).
July 30, 2014, 10:42:38 AM
I have XCP and I'm trying to buy BTC.
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
Due to the lag in settlement is the market book actually not an indication of what the current offers are?
July 30, 2014, 10:37:17 AM
What's up with the distributed exchange? I've been trying to make trades last night and today and have been hugely frustrated. Issues I'm encountering:
What is up with this? Is there any expectation that this thing actually works? Very disheartening.
- Orders don't match, even when made at market price.
- Matched or partially matched orders don't pay out the purchased security.
- Cancelled orders don't return the indicated funds.
What is up with this? Is there any expectation that this thing actually works? Very disheartening.
I'm sorry to hear that your experience using Counterparty wasn't very good. It seems to me that you're probably misintepreting what's happening on the exchange. If you are purchasing an asset with BTC, it takes a while for the order to settle, and you can't cancel orders while you are waiting. This is a fundamental limitation due to Bitcoin's design. For faster, simpler orders, try using XCP instead.
July 30, 2014, 10:28:16 AM
Bitcoin itself is a technology, a protocol, the BTC token essentially is a stake (share) in that protocol. Just like owning shares in Apple allows you to bank on the success of apple, owning a BTC 'share' of bitcoin allows you to bank on the success of Bitcoin.
You have 21 million BTC that will ever be distributed via the minting/mining process, so owning 1 BTC gives you a 1/21,000000 stake. Your stake will be inflated gradually until sometime roughly near 2140 when emission ends.
CounterParty is also a protocol - XCP is the underlying token that gives you a share in the protocol. there are a fixed number of roughly 2.6 million XCP (2,649,791 to be exact) that had already been 'minted' via the Initial proof-of-burn, therefore your stake will never be inflated. (In fact- the opposite is true as XCP will be destroyed during things like asset issuance)
You can find more info on derivatives here
Thanks. I actually meant Counterparty derivatives rather than derivatives in general - or do you use the term to refer to any 'token' on counterparty? I wouldn't think of the IPOs and other assets and stuff I see on Counterparty as derivatives because normally something like a stock, for example, is not a derivative (I don't think) - it is only if you create options or shorts or something based on that stock that it becomes a derivative.
July 30, 2014, 10:27:22 AM
What's up with the distributed exchange? I've been trying to make trades last night and today and have been hugely frustrated. Issues I'm encountering:
What is up with this? Is there any expectation that this thing actually works? Very disheartening.
- Orders don't match, even when made at market price.
- Matched or partially matched orders don't pay out the purchased security.
- Cancelled orders don't return the indicated funds.
What is up with this? Is there any expectation that this thing actually works? Very disheartening.
July 30, 2014, 10:16:09 AM
The value of XCP derives from three things: 1) its mandatory usage in other functionality (such as all derivatives) and 2) its superiority to BTC with trading and crowdsales (it's much faster) and 3) it represents stake in the protocol (for future protocol changes, etc.).
Thanks, but I have more questions
. What does representing a stake in the protocol mean? And is there a link or something about derivatives for me to read up on?Bitcoin itself is a technology, a protocol, the BTC token essentially is a stake (share) in that protocol. Just like owning shares in Apple allows you to bank on the success of apple, owning a BTC 'share' of bitcoin allows you to bank on the success of Bitcoin.
You have 21 million BTC that will ever be distributed via the minting/mining process, so owning 1 BTC gives you a 1/21,000,000 stake. Your proportional stake will be inflated gradually until sometime roughly near 2140 when emission ends.
CounterParty is also a protocol - XCP is the underlying token that gives you a share in the protocol. there are a fixed number of roughly 2.6 million XCP that had already been 'minted' via the Initial proof-of-burn, therefore owning 1 XCP gives you a stake of 1/2,649,791 that will never be inflated. (In fact- the opposite is true as XCP will be destroyed during things like asset issuance- and just from a cursory check seems to be about 8615 XCP destroyed already)
You can find more info on derivatives here and here
July 30, 2014, 10:03:39 AM
The value of XCP derives from three things: 1) its mandatory usage in other functionality (such as all derivatives) and 2) its superiority to BTC with trading and crowdsales (it's much faster) and 3) it represents stake in the protocol (for future protocol changes, etc.).
Thanks, but I have more questions
. What does representing a stake in the protocol mean? And is there a link or something about derivatives for me to read up on? July 30, 2014, 09:59:33 AM
Let me play the dev. advocate a bit...
What motivation would a trusted entity like Bloomberg have to provide a feed for Counterparty? Are they significantly paid? If their feed get corrupted they could loose a lot of reputation.
In case another party replicates the Bloomberg feed and not Bloomberg itself can be held responsible for it, then a Counterparty user would have to trust the party that provides the feed and not Bloomberg. Could Bloomberg sign its feed which then would be provable within Counterparty so that Bloomberg would not have to broadcast it itself?
What motivation would a trusted entity like Bloomberg have to provide a feed for Counterparty? Are they significantly paid? If their feed get corrupted they could loose a lot of reputation.
In case another party replicates the Bloomberg feed and not Bloomberg itself can be held responsible for it, then a Counterparty user would have to trust the party that provides the feed and not Bloomberg. Could Bloomberg sign its feed which then would be provable within Counterparty so that Bloomberg would not have to broadcast it itself?
Feed operators can charge for the service. Bloomberg already makes a lot of money, but the cost of publishing a feed is also effectively zero.
Yes, Bloomberg could sign its feed, and that could be reproduced trustlessly and for free.
I think we boiled it down to a common understanding.
July 30, 2014, 09:57:21 AM
http://www.wired.com/2014/07/overstock-and-cryptocurrency/
"Overstock has already held extensive discussions with a company called CounterParty, which offers software that could help drive such a cryptosecurity..."
"Overstock has already held extensive discussions with a company called CounterParty, which offers software that could help drive such a cryptosecurity..."
That's fantastic, very impressive. Counterparty is really looking to be hands and shoulders above any other platform for this kind of thing.
Bit of a newb question here: since these IPOs use Bitcoin rather than XCP, is betting considered to be the primary use case for XCP or are there any other circumstances in which you see people using it? I'm just trying to get a clearer picture of what drives the value of XCP.
July 30, 2014, 09:56:19 AM
Let me play the dev. advocate a bit...
What motivation would a trusted entity like Bloomberg have to provide a feed for Counterparty? Are they significantly paid? If their feed get corrupted they could loose a lot of reputation.
In case another party replicates the Bloomberg feed and not Bloomberg itself can be held responsible for it, then a Counterparty user would have to trust the party that provides the feed and not Bloomberg. Could Bloomberg sign its feed which then would be provable within Counterparty so that Bloomberg would not have to broadcast it itself?
What motivation would a trusted entity like Bloomberg have to provide a feed for Counterparty? Are they significantly paid? If their feed get corrupted they could loose a lot of reputation.
In case another party replicates the Bloomberg feed and not Bloomberg itself can be held responsible for it, then a Counterparty user would have to trust the party that provides the feed and not Bloomberg. Could Bloomberg sign its feed which then would be provable within Counterparty so that Bloomberg would not have to broadcast it itself?
Feed operators can charge for the service. Bloomberg already makes a lot of money, but the cost of publishing a feed is also effectively zero.
Yes, Bloomberg could sign its feed, and that could be reproduced trustlessly and for free.
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