Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 242. (Read 1276789 times)

Oh. I would have been fine with that. I was just trying to test out the system.
Edit: But it seems I got charged all the same fees anyhow. Maybe you should add a note somewhere about how fees are still charged even if the transaction is cancelled.

Actually, I think the reason that those orders didn't get resolved is that they were too small to be worth paying for. You would have had to pay as much in fees as for the asset.

EDIT: I've created a GitHub issue to put into place a lower limit on order sizes when selling BTC, so that this shouldn't happen again.

I did generally stay logged in most of the time, but even though I was buying at the market price, nothing happened after 5+ hours each time.
Also, my first transaction was to buy XCP with BTC at the market price, but after 3 hours the order never completed so I cancelled it.

You have to be logged in to Counterwallet when your order matches. Otherwise the order expires, and the BTC fees that you paid to Bitcoin miners are gone. If you're going to be buying very small amounts of something, and/or if you don't want to stay logged in, then buy that asset with XCP.

If you had made the same 7 transactions with NXT, for example, the fees would have been about the same (1 NXT/transaction * 7 transactions * 0.055 USD/NXT = 0.38 USD, at current prices). Except with NXT, you can't buy anything with BTC at all.

I wrote earlier about how difficult it was for me to buy an asset (JPJA) using Counterparty (via counterwallet.co).  First, it was very confusing just to figure out how to actually place an order, then it was confusing to figure out the quantity/price I was supposed to pay (it told me it could not automatically quote an exact price for me), and then I had several unsuccessful attempts to buy the asset because it made a match but never completed the transaction. And, just trying to figure out if I had pending orders (that seemed stuck) and how to cancel them was difficult. As of right now I still don't own any JPJA. But, I understand bugs like this happen in new systems. On top of all of that though, after a few days of trying in vein to buy JPJA (I couldn't care less about buying it, I was just doing it to test how the Counterparty asset system works), my countewallet.co balance is now 70% less than I started with, even though I completed 0 actual transactions (and have 0 pending). I only lost around 50 cents worth of BTC, so it is not a big deal, but all of this scares me.  I should add that I have run my own Internet business since 1995, own 300+ websites, and started my own digital currency type site (DigiCredit.com) 12 years ago. So, I can't imagine how the general public could handle any of this.

If I want to issue my own digital asset, and make it easy for people to buy it, what are the advantages/disadvantages of using NXT (or Mastercoin, Ripple, Ethereum, Open Transactions, etc...) instead? It does not seem practical at this point to use Counterparty, although maybe the other asset type crytpocurrencies have just as many problems.

FYI, here's a copy of what I posted to the Counterparty tech support forum ( https://forums.counterparty.co/index.php/topic,188.msg2765.html#new ) about the problems I am having:

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Prior to your update yesterday, I tried to buy the asset JPJA at the market price using the BTC already in my counterparty.co account (Address = 12F5Pzwk8AhZsx1un1AXRqG8DLCukzmFXi ), but had lots of problems and could not buy it. I had 2 orders that matched (the 2nd order was to replace the first order which I cancelled after it did not get completed), but neither went through, and I have no idea why. But, that is not even the biggest problem.

I started by transferring around 0.00237555 BTC to my counterparty.co wallet, and that worked fine.  I then had a bunch of failed and cancelled orders, and that I understand. What I don't understand is that in the end, I bought and sold nothing at all in counterparty.co, yet my
BTC balance decreased from 0.00237555 BTC to 0.0006484 BTC. Where did 70% of my BTC go? Are there fees/commission for cancelled transactions? Even if there were, it would not amount to 70% of what I was buying.

Here's my account history:
Tx   Block   Block Time   Source   Type   Description
e9024   308464   Jun 29th 2014, 11:08:39 am   My Address #1   Cancel      Order/Bet 204a7c53eff2fa67df4101c875140ea093db2a41fcb3d0b6f8228129a14170fe cancelled.
   308403   Jun 29th 2014, 2:29:00 am      Order Match Exp      Order Match d40276c9d63d148f48ff3bb7ee15f7fd400f1bb9a29aeade329e7faa9d92d42d204a7c53eff2fa6 7df4101c875140ea093db2a41fcb3d0b6f8228129a14170fe expired
24cc7   308382   Jun 28th 2014, 11:57:41 pm   My Address #1   Cancel      Order/Bet 404dec488e13b30b9ee29a36ffff4324aa9302bd5ac4bdb25cc72becdf0cd262 cancelled.
170fe...204a7   308382   Jun 28th 2014, 11:57:41 pm      Order Match      1K2eXP3wsX4W5HjnkNKsqX1fgRPhFA5RNv sent 1 JPJA
My Address #1 sent 0.0005 BTC (pending BTCpay)
170fe   308382   Jun 28th 2014, 11:57:41 pm   My Address #1   Order      Sell 0.0005 BTC for 1 JPJA
   308228   Jun 28th 2014, 5:31:08 am      Order Match Exp      Order Match d40276c9d63d148f48ff3bb7ee15f7fd400f1bb9a29aeade329e7faa9d92d42d404dec488e13b30 b9ee29a36ffff4324aa9302bd5ac4bdb25cc72becdf0cd262 expired
cd262...404de   308207   Jun 28th 2014, 1:09:00 am      Order Match      1K2eXP3wsX4W5HjnkNKsqX1fgRPhFA5RNv sent 1 JPJA
My Address #1 sent 0.0005 BTC (pending BTCpay)
cd262   308207   Jun 28th 2014, 1:09:00 am   My Address #1   Order      Sell 0.0005 BTC for 1 JPJA
cd9b4   308141   Jun 27th 2014, 5:12:13 pm   My Address #1   Cancel      Order/Bet d4f93246b727be2271373bee164dab8cf823a9e54ad92eb7cab5989b7999996d cancelled.
9996d   308113   Jun 27th 2014, 2:05:03 pm   My Address #1   Order      Sell 0.00237555 BTC for 0.68 XCP
Showing 1 to 10 of 10 entries
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Check out our new blog post about how Counterparty is helping to bring about the new and growing field of artist coins!

https://www.counterparty.co/bitcoin-2-0-enabling-crowdfunding-of-music-and-art/

If you believe in the concept, please consider donating to Tatianacoin and Niceplum, the two first artistcoins!

And, this post will also be syndicated to Let's Talk Bitcoin, in return for some (newly launched) LTBCoins. The Counterparty community is really starting to develop.

Should be fixed. We'll be making some changes to hopefully increase reliability shortly.

I can't seem to login to the counter wallet at https://www.counterwallet.co/# it keeps saying no server found?

It takes 3 days to go through coinbase, and you're complaining about an hour?

The faster you trade, the faster the high-frequency trading algos will take your money. If it takes an hour to trade soybeans that take me a year to grow, that seems like a good deal to me.

What I do need, however is a way to set up a BTCpay escrow account, a way to have make the BTCpay happen without my browser being open, and some sort of two-factor auth for counterwallet.

Congratulations Adam. Great vision and execution.

LTBCOIN, the crypto-rewards program for the Let's Talk Bitcoin! network has launched on Counterparty, and is in the hands of our first 200 or so early adopters.  Our first mass send broke the record for most sends in a day, very cool. 

no, you can't buy them.

You can read the announcement and details here
http://letstalkbitcoin.com/blog/post/introducing-ltbcoin-our-new-crypto-rewards-program-for-ltb-creators-and-community

You can hear much of the same information in audio format on our latest episode
http://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-122-curiousity-discovery-and-music

Thanks Counterparty! 

Here is a short video that shows how to sell XCP for a user created token: https://www.youtube.com/watch?v=D97oo8xCcG0

I'm happy to make other videos that outline the functionality of Counterwallet.

We will be making an official announcement tomorrow.

bump

Okay. I haven't used Xbet but I will try.


No need to give me a discount. I am doing this to help adoption of XCP.

P.S. To anyone wondering, NICEPLUM assets do not represent ownership of Niceplum or ownership of rights of Niceplum. All holders of NICEPLUM coin receive distribution payments from profits of Niceplum music. It's a COIN that pays out from music profits in XCP.  

Here is a nice comparison (as nice as such a structure can be): https://docs.google.com/spreadsheets/d/1FdxxnujeMb_1kWlz1Esqut_jmmWNicbS3Meh1F83tUo/edit#gid=0
I was not 100% sure with some things so I would leave it to Matt or someone that knows all the details... I dont know whether he will publish it beyond this spreadsheet...
https://bitcointalksearch.org/user/thepiachu-34743

Can you do a Step by Step buy and sell assets video? The way they have them matched can be a bit confusing and exact explanation would be great. If you want you can buy some of my stock for a example and I will give you a discount for the good deed.

What a great idea! very important for adoption!

I think a good place to start is xbet.io

Could you make a video on how to bet using xbet? many people need this and i think a video is the best way to go.

What is new in CW?

Are the fees lower now?

Would there be any way to integrate XBTC into the protocol directly?