[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 221.

delulo

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Activity: 441

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Quote from: profitofthegods on July 31, 2014, 06:17:40 AM

Quote from: delulo on July 31, 2014, 05:26:06 AM

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?

It sounds like they want a purely crypto-asset listing to me.

You mean a separate type of stock? They would have to associate some promises / conditions to that asset. Which would be?

CounterpartyRippler

newbie

Activity: 11

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Quote from: justbc on July 30, 2014, 11:02:44 AM

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.

Nothing is compounded and it's not a "fact". Your XCP haven't been paid to anyone, so of course they can't be refunded.
Pending a payment, tokens are held in escrow and only if payment from both sides can be executed the protocoll executes a transaction.
Otherwise as PhantonPhreak said if the other side doesn't send the money your order expires.

If you looked at your order status (inside of CW) or at Blockscan.com you could have seen this yourself.

profitofthegods

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Activity: 378

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Quote from: delulo on July 31, 2014, 05:26:06 AM

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?

It sounds like they want a purely crypto-asset listing to me.

I heard another start up company looking at doing a kind parallel listing though, where they were planning to issue legal stocks but keep hold of them themselves and promise to pay on the benefits. Sco I think that is a possible route.

delulo

sr. member

Activity: 441

Merit: 250

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?

dexX7

legendary

Activity: 1106

Merit: 1026

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. Wink

xnova

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Activity: 390

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Counterparty Developer

Quote from: PhantomPhreak on July 30, 2014, 11:42:53 AM

Quote from: Viper1 on July 30, 2014, 11:40:13 AM

Quote from: Viper1 on July 29, 2014, 08:10:50 AM

Quote from: JahPowerBit on July 29, 2014, 05:40:56 AM

Quote from: Viper1 on July 28, 2014, 08:17:54 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.

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.

xnova

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Activity: 390

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Counterparty Developer

Quote from: justbc on July 30, 2014, 11:02:44 AM

Quote from: PhantomPhreak on July 30, 2014, 10:49:20 AM

Quote from: justbc on 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?

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.

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: Viper1 on July 30, 2014, 11:40:13 AM

Quote from: Viper1 on July 29, 2014, 08:10:50 AM

Quote from: JahPowerBit on July 29, 2014, 05:40:56 AM

Quote from: Viper1 on July 28, 2014, 08:17:54 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.

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!

Viper1

sr. member

Activity: 686

Merit: 320

Quote from: Viper1 on July 29, 2014, 08:10:50 AM

Quote from: JahPowerBit on July 29, 2014, 05:40:56 AM

Quote from: Viper1 on July 28, 2014, 08:17:54 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.

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.

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

Quote from: delulo on July 30, 2014, 09:29:55 AM

Quote from: Spratan on July 30, 2014, 08:00:23 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
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.

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: justbc on July 30, 2014, 11:02:44 AM

Quote from: PhantomPhreak on July 30, 2014, 10:49:20 AM

Quote from: justbc on 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?

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).

justbc

member

Activity: 98

Merit: 10

Quote from: PhantomPhreak on July 30, 2014, 10:49:20 AM

Quote from: justbc on 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?

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.

IamNotSure

hero member

Activity: 672

Merit: 500

Biggest daily volume on BTER already, time to grab some XCP while they're cheap...

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: justbc on 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?

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).

justbc

member

Activity: 98

Merit: 10

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?

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: justbc on 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:

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.

profitofthegods

sr. member

Activity: 378

Merit: 250

Quote from: Anotheranonlol on July 30, 2014, 10:16:09 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.

justbc

member

Activity: 98

Merit: 10

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:

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.

Anotheranonlol

hero member

Activity: 588

Merit: 504

Quote from: profitofthegods on July 30, 2014, 10:03:39 AM

Quote from: PhantomPhreak on July 30, 2014, 09:54:15 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 Tongue

. 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

profitofthegods

sr. member

Activity: 378

Merit: 250

Quote from: PhantomPhreak on July 30, 2014, 09:54:15 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 Tongue

. What does representing a stake in the protocol mean? And is there a link or something about derivatives for me to read up on?

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 221. (Read 1276936 times)