[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 346.

ko6028

member

Activity: 67

Merit: 10

Quote from: hill on February 23, 2014, 11:42:04 AM

Quote from: zhaochong on February 23, 2014, 08:58:17 AM

Please lower the fee on poloniex when the loss are get back, I want to buy more xcps!

me too, i want to buy more xcp.

Buy when the price bottom, sell when the price is high, so many people are of benefit!
But to see the price trend, otherwise will only lose!

ko6028

member

Activity: 67

Merit: 10

Quote from: halfcab123 on March 24, 2014, 03:07:44 PM

I'll make a video tutorial today long over due

Look forward to your video tutorial , I believe it will give us great help!

Matt Y

hero member

Activity: 647

Merit: 510

Counterpartying

Quote from: utuxia on March 28, 2014, 01:43:56 AM

Quote from: Matt Y on March 28, 2014, 01:36:43 AM

You can also get testnet bitcoins here: https://tpfaucet.appspot.com/

and burn them for XCP inside Counterwallet.

worked like a charm. so what's the process? I get btc in wallet, buy xcp, and then I can trade xpc for other shit on the exchange??

You can buy/sell on the DEx or, since it's testnet, you can burn some of the BTC into XCP. Once that's done, you can create assets and mess around with that side of things, paying dividends and so on.

deliciousowl

sr. member

Activity: 432

Merit: 250

Quote from: porqupine on March 27, 2014, 03:13:47 PM

How is this a comment from a bright individual you can reach out to? It's just another Luke Jr.

Quote

What we are against is extorting other participants of the bitcoin network into processing your transactions which were not in the original social contract of bitcoin, especially when clearly explained alternatives exist. That is frankly evil, although I'll give you the benefit of the doubt and chalk it up to ignorance. This time.

Sounds like a mobster threat or a condescending middle school teacher. He can inhale my pubes for all i care, until he learns some manners

utuxia

member

Activity: 69

Merit: 10

Quote from: Matt Y on March 28, 2014, 01:36:43 AM

You can also get testnet bitcoins here: https://tpfaucet.appspot.com/

and burn them for XCP inside Counterwallet.

worked like a charm. so what's the process? I get btc in wallet, buy xcp, and then I can trade xpc for other shit on the exchange??

Matt Y

hero member

Activity: 647

Merit: 510

Counterpartying

You can also get testnet bitcoins here: https://tpfaucet.appspot.com/

and burn them for XCP inside Counterwallet.

Anotheranonlol

hero member

Activity: 588

Merit: 504

Counterparty (along with Bitcoin Tangible trust) mentioned here, http://www.bloomberg.com/news/2014-03-28/bitcoin-2-0-shows-technology-evolving-beyond-use-as-money.html

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

Quote from: utuxia on March 28, 2014, 01:01:36 AM

how do i fund the wallet on testnet?

we don't have a testnet faucet yet but you can get some at https://forums.counterparty.co/index.php/topic,184.0.html

or you could get some testnet bitcoins from https://forums.counterparty.co/index.php/topic,184.0.html and burn them for XCP yourself

utuxia

member

Activity: 69

Merit: 10

how do i fund the wallet on testnet?

lonsharim

full member

Activity: 196

Merit: 100

Quote from: porqupine on March 27, 2014, 04:17:46 PM

Quote from: xnova on March 27, 2014, 04:05:36 PM

Quote from: porqupine on March 27, 2014, 03:57:28 PM

I think you are making great points. Only I still can't find any esteem for the 'implicit' and 'social contract' arguments - if extra data storage is bad - then why not charge extra fees for OP_return proportional to their burden on the network - there is no absolutely no conclusive logic behind 'these types of transactions are part of the social contract' 'these types of transactions are not' - it's just political posturing - it's like if someone came out to tell people that the Internet was designed for X and not for Y: ergo should not be used for Y.
If his Freimarkets proposal is better than Counterparty, than he can implement it and market forces will decide which is better.

The problem is that Bitcoin's current fee model is definitely "less-than-ideal". It is both static (i.e. non adaptive) and does not compensate full node operators who store the data. This whole debate, I suspect, is a consequence of that. The model can be adjusted, and there has been copious amounts of talk on doing that, but to the credit of the core devs, it's quite hard to change a flat tire on a 2 ton dump truck going down the road at 70 miles an hour. Cheesy

Full Nodes have never received any fees - and it's been okay all this time - but then you add .003% more Data and it's abuse? Besides that I think Counterparty users are the straight up largest percent wise group of Full Node operators Wink

Take this analogy - you have a highway whose maintenance is paid for by toll fees, and a logging company's trucks cause more wear to the highway surface than your average passenger vehicle - but instead of saying, hey let's do an analysis of how much more wear the logging trucks are causing and charge them higher fees accordingly - they are saying those trucks are evil and hurting all other car owners. Isn't there a problem with this mentality?
Sure your average toll paying driver does not need the 'logging trucks', but they are in fact, perhaps essential to the state's economical development in a very important sector. It's economically backward minded - sure that can change with time and I think it will; I just have a problem with libertarians turning free-market economics into 'social ideology that ought to be good enough for everyone' as soon as it violates their favorite order of things.

That's a very good analogy porqupine and accurately reflects our predicament.

kkangjji22

member

Activity: 67

Merit: 10

Quote from: halfcab123 on March 27, 2014, 07:03:21 PM

The drop in btc is aggravating

BTC decline of the market will have a significant impact,
But I believe BTC will rise up in a day!

BitcoinTangibleTrust

member

Activity: 111

Merit: 10

Digitizing Valuable Hard Assets with Crypto

Quote from: l4p7 on March 27, 2014, 07:24:31 PM

So you would send me the Gold via post mail. Did I get that right?
How do I know that you have the gold?
And you also provide a BTC/1ozGold price feed? What data is that feed based on exactly?

Answer1:
We don't send you the gold. Our system is setup that gold goes directly from the gold seller to the custodian. We never touch your gold.

Answer 2:
With our special custody agreement, you can conduct an independent audit on the gold in custody. Again, we never touch your gold. It's in professional, bonded, insured, guarded custody.

Answer 3:
We will provide a feed on spot gold. I just need to figure out how to do that on Counterparty, but it's not a blocker to trading your gold coin on the DEX.

EDIT: Super Thanks for these questions, l4p7. I will add them to our FAQ right now.

Bellebite2014

newbie

Activity: 56

Merit: 0

Quote from: halfcab123 on March 27, 2014, 07:03:21 PM

The drop in btc is aggravating

As Pavarotti was singing, *time to say goodbye*

l4p7

member

Activity: 70

Merit: 10

Quote from: BitcoinTangibleTrust on March 27, 2014, 07:00:00 PM

Quote from: baddw on March 27, 2014, 06:00:55 PM

Quote from: l4p7 on March 27, 2014, 05:44:56 PM

Quote from: BitcoinTangibleTrust on March 27, 2014, 04:01:15 PM

Product and Service Updates March 27, 2014

Introduction:
We at BitcoinTangibleTrust are happy that to launch a public, trustless trial of BitcoinTangible Trust's gold asset purchase, custody, and issuance on the Counterparty Platform. The players in this public purchase will be:

Global_trade_repo(Counterparty Forums) also known as led_cd(BitcoinTalk Forums)
BitcoinTangibleTrust (Counterpart Forums) also known as BitcoinTangibleTrust(BitcoinTalk Forums)
Agora Commodities
DiamondState Depository

Objective:
Our objective is to open up the BitcoinTangibleTrust process to the community in order to build trust from with our process and to validate that there is a value proposition we can continue to scale with more customers and further sales.

Our Process:
Walk with led_cd through the purchase of approximately 1 BTC of gold for custody and DEX trading through BitcoinTangible Trust process. led_cd will provide his public feedback on the purchase, custody, and trading process to the community. We welcome a very public exercise. We will not charge any fees to led_cd/Global_Trade_repo outside the fees from either gold sellers or our custodian partners.

The first step will be for led_cd to fill out our Order form online and inform us of his desire to make a purchase of 1 BTC of gold here: http://bitcointangibletrust.com/buy-gold/

Our Ask:
We look to you, the community to share any thoughts on the process and how we might improve by quoting us in the feedback we will share during the entire process. Will you help us?

Thank you Counterparty Devs and the Counterparty Community,
Bitcoin Tangible Trust Team
Cross Posted to Counterparty Forums:
https://forums.counterparty.co/index.php/topic,203.0.html

In simple word. Does it work in one of these ways:
(1) I send you BTC -> you send me Gold via post mail?
(2) I send you BTC -> you owe me Gold worth of the amount of BTC i sent you (for ex.: I send you 3.2 BTC which gives me 1 oz of Gold atm. In half a year i will egt a different amount of BTC and UDS compared to now, and I can cash out in BTC or USD at the respective daily rate). And then I can request that you pay me back in BTC (or USD? or Gold?) whenever I choose to?

#2.

But the cool thing is that you can trade your 1 oz gold IOU on the exchange. So, you buy 1 oz of gold from BTT for 3.2 BTC. You hold it in an XCP asset. Price of gold goes up relative to BTC, I pay you 3.5 BTC for that asset on the exchange. Now you hold 3.5 BTC and I hold the 1 oz of gold asset. Now price of BTC rises or price of gold goes down. You buy back the 1 oz asset from me for 3.0 BTC. Through this trading, you now have an XCP asset holding 1 oz of gold, and 0.5 BTC in profit.

EDIT: So nobody ever cashes out through Bitcoin Tangible Trust. (Although I suppose it's possible, they will try to avoid it as it costs a lot of money to ship gold, and they would rather keep the assets in the marketplace.) The assets remain in the market. If you want to cash out, you sell it on the exchange for the going rate in BTC, and then cash out your BTC, and somebody else holds the IOU from Bitcoin Tangible Trust.

Thanks for the excellent review baddw!

Answering #1: We do not send our customers gold. It's easier to do that directly. We are focused on digitizing the physical gold asset into an XCP IOU. We're a digital custodian for these assets.

Adding to #2 answer above: Customers CAN cash out into the physical gold with BitcoinTangible Trust. The unique structure of our custodian agreement allows for our customers to redeem their gold at anytime, less any outstanding custodian fees and subject to private key signature verification. Otherwise, our goal is that you can trade the asset as long as you need and it proves useful to you.

I hope that was helpful. Thank you for the excellent questions!
BTT

So you would send me the Gold via post mail. Did I get that right?
How do I know that you have the gold?
And you also provide a BTC/1ozGold price feed? What data is that feed based on exactly?

halfcab123

full member

Activity: 224

Merit: 100

CabTrader v2 | crypto-folio.com

The drop in btc is aggravating

BitcoinTangibleTrust

member

Activity: 111

Merit: 10

Digitizing Valuable Hard Assets with Crypto

Quote from: baddw on March 27, 2014, 06:00:55 PM

Quote from: l4p7 on March 27, 2014, 05:44:56 PM

Quote from: BitcoinTangibleTrust on March 27, 2014, 04:01:15 PM

Product and Service Updates March 27, 2014

Introduction:
We at BitcoinTangibleTrust are happy that to launch a public, trustless trial of BitcoinTangible Trust's gold asset purchase, custody, and issuance on the Counterparty Platform. The players in this public purchase will be:

Global_trade_repo(Counterparty Forums) also known as led_cd(BitcoinTalk Forums)
BitcoinTangibleTrust (Counterpart Forums) also known as BitcoinTangibleTrust(BitcoinTalk Forums)
Agora Commodities
DiamondState Depository

Objective:
Our objective is to open up the BitcoinTangibleTrust process to the community in order to build trust from with our process and to validate that there is a value proposition we can continue to scale with more customers and further sales.

Our Process:
Walk with led_cd through the purchase of approximately 1 BTC of gold for custody and DEX trading through BitcoinTangible Trust process. led_cd will provide his public feedback on the purchase, custody, and trading process to the community. We welcome a very public exercise. We will not charge any fees to led_cd/Global_Trade_repo outside the fees from either gold sellers or our custodian partners.

The first step will be for led_cd to fill out our Order form online and inform us of his desire to make a purchase of 1 BTC of gold here: http://bitcointangibletrust.com/buy-gold/

Our Ask:
We look to you, the community to share any thoughts on the process and how we might improve by quoting us in the feedback we will share during the entire process. Will you help us?

Thank you Counterparty Devs and the Counterparty Community,
Bitcoin Tangible Trust Team
Cross Posted to Counterparty Forums:
https://forums.counterparty.co/index.php/topic,203.0.html

In simple word. Does it work in one of these ways:
(1) I send you BTC -> you send me Gold via post mail?
(2) I send you BTC -> you owe me Gold worth of the amount of BTC i sent you (for ex.: I send you 3.2 BTC which gives me 1 oz of Gold atm. In half a year i will egt a different amount of BTC and UDS compared to now, and I can cash out in BTC or USD at the respective daily rate). And then I can request that you pay me back in BTC (or USD? or Gold?) whenever I choose to?

#2.

But the cool thing is that you can trade your 1 oz gold IOU on the exchange. So, you buy 1 oz of gold from BTT for 3.2 BTC. You hold it in an XCP asset. Price of gold goes up relative to BTC, I pay you 3.5 BTC for that asset on the exchange. Now you hold 3.5 BTC and I hold the 1 oz of gold asset. Now price of BTC rises or price of gold goes down. You buy back the 1 oz asset from me for 3.0 BTC. Through this trading, you now have an XCP asset holding 1 oz of gold, and 0.5 BTC in profit.

EDIT: So nobody ever cashes out through Bitcoin Tangible Trust. (Although I suppose it's possible, they will try to avoid it as it costs a lot of money to ship gold, and they would rather keep the assets in the marketplace.) The assets remain in the market. If you want to cash out, you sell it on the exchange for the going rate in BTC, and then cash out your BTC, and somebody else holds the IOU from Bitcoin Tangible Trust.

Thanks for the excellent review baddw!

Answering #1: We do not send our customers gold. It's easier to do that directly. We are focused on digitizing the physical gold asset into an XCP IOU. We're a digital custodian for these assets.

Adding to #2 answer above: Customers CAN cash out into the physical gold with BitcoinTangible Trust. The unique structure of our custodian agreement allows for our customers to redeem their gold at anytime, less any outstanding custodian fees and subject to private key signature verification. Otherwise, our goal is that you can trade the asset as long as you need and it proves useful to you.

I hope that was helpful. Thank you for the excellent questions!
BTT

baddw

hero member

Activity: 700

Merit: 500

Quote from: l4p7 on March 27, 2014, 05:44:56 PM

Quote from: BitcoinTangibleTrust on March 27, 2014, 04:01:15 PM

Product and Service Updates March 27, 2014

Introduction:
We at BitcoinTangibleTrust are happy that to launch a public, trustless trial of BitcoinTangible Trust's gold asset purchase, custody, and issuance on the Counterparty Platform. The players in this public purchase will be:

Global_trade_repo(Counterparty Forums) also known as led_cd(BitcoinTalk Forums)
BitcoinTangibleTrust (Counterpart Forums) also known as BitcoinTangibleTrust(BitcoinTalk Forums)
Agora Commodities
DiamondState Depository

Objective:
Our objective is to open up the BitcoinTangibleTrust process to the community in order to build trust from with our process and to validate that there is a value proposition we can continue to scale with more customers and further sales.

Our Process:
Walk with led_cd through the purchase of approximately 1 BTC of gold for custody and DEX trading through BitcoinTangible Trust process. led_cd will provide his public feedback on the purchase, custody, and trading process to the community. We welcome a very public exercise. We will not charge any fees to led_cd/Global_Trade_repo outside the fees from either gold sellers or our custodian partners.

The first step will be for led_cd to fill out our Order form online and inform us of his desire to make a purchase of 1 BTC of gold here: http://bitcointangibletrust.com/buy-gold/

Our Ask:
We look to you, the community to share any thoughts on the process and how we might improve by quoting us in the feedback we will share during the entire process. Will you help us?

Thank you Counterparty Devs and the Counterparty Community,
Bitcoin Tangible Trust Team
Cross Posted to Counterparty Forums:
https://forums.counterparty.co/index.php/topic,203.0.html

In simple word. Does it work in one of these ways:
(1) I send you BTC -> you send me Gold via post mail?
(2) I send you BTC -> you owe me Gold worth of the amount of BTC i sent you (for ex.: I send you 3.2 BTC which gives me 1 oz of Gold atm. In half a year i will egt a different amount of BTC and UDS compared to now, and I can cash out in BTC or USD at the respective daily rate). And then I can request that you pay me back in BTC (or USD? or Gold?) whenever I choose to?

#2.

But the cool thing is that you can trade your 1 oz gold IOU on the exchange. So, you buy 1 oz of gold from BTT for 3.2 BTC. You hold it in an XCP asset. Price of gold goes up relative to BTC, I pay you 3.5 BTC for that asset on the exchange. Now you hold 3.5 BTC and I hold the 1 oz of gold asset. Now price of BTC rises or price of gold goes down. You buy back the 1 oz asset from me for 3.0 BTC. Through this trading, you now have an XCP asset holding 1 oz of gold, and 0.5 BTC in profit.

EDIT: So nobody ever cashes out through Bitcoin Tangible Trust. (Although I suppose it's possible, they will try to avoid it as it costs a lot of money to ship gold, and they would rather keep the assets in the marketplace.) The assets remain in the market. If you want to cash out, you sell it on the exchange for the going rate in BTC, and then cash out your BTC, and somebody else holds the IOU from Bitcoin Tangible Trust.

l4p7

member

Activity: 70

Merit: 10

Quote from: BitcoinTangibleTrust on March 27, 2014, 04:01:15 PM

Product and Service Updates March 27, 2014

Introduction:
We at BitcoinTangibleTrust are happy that to launch a public, trustless trial of BitcoinTangible Trust's gold asset purchase, custody, and issuance on the Counterparty Platform. The players in this public purchase will be:

Global_trade_repo(Counterparty Forums) also known as led_cd(BitcoinTalk Forums)
BitcoinTangibleTrust (Counterpart Forums) also known as BitcoinTangibleTrust(BitcoinTalk Forums)
Agora Commodities
DiamondState Depository

Objective:
Our objective is to open up the BitcoinTangibleTrust process to the community in order to build trust from with our process and to validate that there is a value proposition we can continue to scale with more customers and further sales.

Our Process:
Walk with led_cd through the purchase of approximately 1 BTC of gold for custody and DEX trading through BitcoinTangible Trust process. led_cd will provide his public feedback on the purchase, custody, and trading process to the community. We welcome a very public exercise. We will not charge any fees to led_cd/Global_Trade_repo outside the fees from either gold sellers or our custodian partners.

The first step will be for led_cd to fill out our Order form online and inform us of his desire to make a purchase of 1 BTC of gold here: http://bitcointangibletrust.com/buy-gold/

Our Ask:
We look to you, the community to share any thoughts on the process and how we might improve by quoting us in the feedback we will share during the entire process. Will you help us?

Thank you Counterparty Devs and the Counterparty Community,
Bitcoin Tangible Trust Team
Cross Posted to Counterparty Forums:
https://forums.counterparty.co/index.php/topic,203.0.html

In simple word. Does it work in one of these ways:
(1) I send you BTC -> you send me Gold via post mail?
(2) I send you BTC -> you owe me Gold worth of the amount of BTC i sent you (for ex.: I send you 3.2 BTC which gives me 1 oz of Gold atm. In half a year i will egt a different amount of BTC and UDS compared to now, and I can cash out in BTC or USD at the respective daily rate). And then I can request that you pay me back in BTC (or USD? or Gold?) whenever I choose to?

freedomfighter

full member

Activity: 210

Merit: 100

Quote from: kdrop22 on March 27, 2014, 03:52:51 PM

+1
Great post Xnova

+1000. Eyeopener.

led_lcd

sr. member

Activity: 262

Merit: 250

Quote from: BitcoinTangibleTrust on March 27, 2014, 04:01:15 PM

Our Process:
Walk with led_cd through the purchase of approximately 1 BTC of gold for custody and DEX trading through BitcoinTangible Trust process. led_cd will provide his public feedback on the purchase, custody, and trading process to the community. We welcome a very public exercise. We will not charge any fees to led_cd/Global_Trade_repo outside the fees from either gold sellers or our custodian partners.

The first step will be for led_cd to fill out our Order form online and inform us of his desire to make a purchase of 1 BTC of gold here: http://bitcointangibletrust.com/buy-gold/

I'm excited to be the person to give this a test run. All my experiences and questions will be posted in the official forums. This way future users of the service can easily refer to a single thread. I'd encourage other people who wish to find out more information to put in that thread too,

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 346. (Read 1276823 times)