Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 319. (Read 1276817 times)

This is probably a problem with the display. Working on it.

I tried to import xcp, but for some reason there's only btc. What did I do wrong? Also when everything ok and there's xcp at what price it sweeps btc for xcp?

On it.

I didnt see this FAQ until now- but it is currently 404 error

https://www.counterparty.co/resources/faqs/why-must-dividends-bets-and-betting-fees-be-paid-in-xcp/

https://www.counterparty.co/resources/faqs/aside-from-speculative-investment-why-will-there-be-demand-for-xcp/

I posted it yesterday. received one reply. don't you guys want to understand the value proposition for XCP? (again not counterparty the platform but XCP the token or currency.

Anyways- good conversation in REDDIT about it initiated by another person (not me) with some good answers: will appreciate more feedback here.

here it is:

Where does the XCP currency come into play? I'm generally skeptical of any kind of decentralized exchange that creates a new token-based system. Why not just trade newly created assets directly against bitcoins instead of creating a new currency?
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[–]PacificAvenue 2 points 1 day ago*
x-posting this from ELI5 thread
You can buy stocks with pure BTC reserves on Counterparty. You can exchange BTC for XGOLD, and XGOLD back for BTC. Counterparty the token (XCP) is required for asset issuance but not asset exchange.

With colored coins, you can transform BTC into BTC-GOLD, but the original issuer of BTC-GOLD must sacrifice BTC up front to issue BTC-GOLD. Because you wouldn't want to accidentally send someone your 10 gold bars irreversibly, colored coins and BTC must be tracked separately. This is important. BTC-GOLD must be distinguished from BTC in all colored coin enabled wallets.
With Counterparty, you can exchange BTC for XGOLD, and XGOLD back for BTC. Similar to colored coins, the original issuer of XGOLD must sacrifice BTC to create XGOLD. The beauty of Counterparty is that, once the XGOLD is circulating, you can bet or hedge on its future value with distributed price feeds, with or without leverage, and with or without owning the underlying asset. Counterparty is like a colored coin stock market, prediction market and options market all-in-one, and it's completely decentralized.

In addition, Counterparty addresses are Bitcoin addresses, literally they are one and the same. But if you accidentally send away the BTC aspect of a Counterparty-enabled Bitcoin address, the Counterparty asset remains untouched. In Counterparty, the colored coin gets fixed to the Bitcoin private key, and a distributed ledger of its own tracks the balance. Counterparty assets aren't at risk of being accidentally sent. As a result, you can seamlessly overlay Counterparty on top of existing Bitcoin wallets.

To me, that is the key, and it's why I'd compare colored coins to a bare bones version of Counterparty. You can buy colored assets on Counterparty directly with Bitcoin just like you can with a minimal colored coins implementation, but Counterparty interoperates with all existing Bitcoin wallets, and you can do a whole lot more with it once you have it. Think: futures, options, predictions, and trading with leverage.

[–]kyletorpey 1 point 1 day ago
Colored coins based on price feeds are also possible on Colored Coins (I've asked them about this after Mastercoin started talking about price feeds), so perhaps I'm still missing the need for the XCP currency? I do like the ability to trade directly between BTC and Counterparty-assets, but I still don't see why a new currency is required.


[–]AdamBLevine 2 points 1 day ago
Because colored coins requires specific satoshis or groups of satoshis to be marked, where Counterparty just uses the satoshis as essentially a change-order for the Counterparty global ledger.

Colored Coins can do stuff with Bitcoin but they can't control bitcoin, because Colored Coins are a protocol layer above Bitcoin. When you do a decentralized exchange transaction on Counterparty, if you're using XCP or any user created asset, everything is automated because the protocol can control both assets and make the change to the Counterparty ledger at the same time.
With Bitcoin that can't happen because the Bitcoin ledger needs to be changed to reflect the Bitcoin side of the trade, and the Counterparty ledger needs to be changed to reflect the counterparty side of the trade. Because these things happen in different systems it means one can happen but the other does not for whatever reason.

Using XBTC (a Counterparty Asset redeemable through an automated or trusted source for BTC) you can have all the advantages of automatic fulfillment without risk the other side cancels the TX but your side goes through.

Nothing wrong with the colored coins approach but Counterparty is different and in my opinion a superior option.

http://www.reddit.com/r/Bitcoin/comments/22erxg/counterwallet/?sort=new

This came to our attention earlier today and is being worked on. Thanks for reporting it.

someone published a "heart bleed test". does this have any significance?

here: http://filippo.io/Heartbleed/#counterwallet.co

Heartbleed test
There should not be false results anymore, only "Uh-Oh"s.
If there are problems, head to the FAQ

Enter the hostname of a server to test it for CVE-2014-0160.

  Go!
counterwallet.co IS VULNERABLE.
Here is some data we pulled from the server memory:
(we put YELLOW SUBMARINE there, and it should not have come back)

Why do I see "Pending order to sell" for more than 20 hours now?
And how was I able to send another sell order for the same amount? (there is no more XCP on the account)

Could someone please explain how does it work? Buying prices on the right side are much higher than selling prices on the left. Why trades aren't happening?

So having bitcoin on the address is not enough?

send it some dust first then sweep

This is over my head

A very nice picture!

Isn't this going to be a problem if one of the links in the chain is not mined for some reason or other?

Sorry for repeating myself, but this is a misbelief. Or let me rephrase: it's only an issue, because the XCP wallets don't use unconfirmed inputs.

But you actually don't need to do this. Using the output of a freshly created transaction and the chaining of unconfirmed transactions has the same effect, no delay and doesn't create so many entries in the UTXO set.

The only potential grey case is a break of the chain due to malleability. But with the latest changes this shouldn't be an issue at all.

Yep. Just found similar, i think...... https://forums.counterparty.co/index.php?topic=188.msg1781#msg1781

Thanks

I reported a bug with making orders with user defined assets:

https://forums.counterparty.co/index.php/topic,188.msg1753.html#msg1753

Miner fees don't get attached

There may be a small bug in Counterwallet. I'll look into it. (Your money's safe.)

Sorry, i have no idea what you are trying to tell me.
I just wanted to sell a few XCP and im now in a process that i have no control over, and with no idea how to advance a simple order after 12+ hours. 

Cancelling in for orders with at least one confirmation, and with zero fees, it takes a long time to get that.