I think that the ability of getting XCP with proof-of-burn should be postponed to the time when there will be a stable client.
Are you high ?
Or are you sending this from a time machine from beginning of January 2014
Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 351. (Read 1277015 times)
March 27, 2014, 05:26:34 AM
Are you high ?
Or are you sending this from a time machine from beginning of January 2014
March 27, 2014, 05:24:46 AM
I think that the ability of getting XCP with proof-of-burn should be postponed to the time when there will be a stable client. It will help the distribution of the coin. If not there will be another distributed exchange with large-holders(who risked their money into a thing that didn't worked at the time) which will be very unhealthy for the counterparty system.
March 27, 2014, 05:22:28 AM
Great news! Pay-to-PubKeyHash Functionality Added
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
Sorry if this sounds like a dumb question but I don't understand the implications - what does " it will be enabled on mainnet with block 293000" really mean since bare multi-sig is still the default method used going forward at least in the near future. Is the protocol capable of automatically switching to pubkeyhash if it fails to create a bare multisig transaction and relay it successfully.
It means the protocol will parse this kind of encoded transactions from block 293000, but it does not mean the client will encode in this way.
March 27, 2014, 05:20:41 AM
Up till now, all the counterparty devs have done are respectable and admirable. I really appreciate the fairness, transparency, non-greedy they have shown us. I think even counterparty fails in the end (which I think unlikely), it is still a great project that have great devs and great community.
Therefore, I am really sad to see the devs try to (or have to) use this method to defend this project. Maybe just me, I don't want to see someone succeeds in a battle by threatening others that they will do something really bad, even I know they have good motive and I am in their side.
As we all know, XCP lives with BTC together. Even I have quite some XCP myself, I don't want to see XCP succeeds by hurting BTC, and finally hurts XCP itself. Moreover, I know that we will not win the battle if we use this method.
If counterparty is really successful and this mothod is used, I believe the core dev of bitcoin has no choice but filtering all counterparty transactions to protect the bitcoin. They have to do this, because if counterparty succeeds, each counterparty transactions will introduce around 3 unspendable BTC transactions and these transactions cannot be removed from the blockchain except explicit filtering.
Therefore, I am really sad to see the devs try to (or have to) use this method to defend this project. Maybe just me, I don't want to see someone succeeds in a battle by threatening others that they will do something really bad, even I know they have good motive and I am in their side.
As we all know, XCP lives with BTC together. Even I have quite some XCP myself, I don't want to see XCP succeeds by hurting BTC, and finally hurts XCP itself. Moreover, I know that we will not win the battle if we use this method.
If counterparty is really successful and this mothod is used, I believe the core dev of bitcoin has no choice but filtering all counterparty transactions to protect the bitcoin. They have to do this, because if counterparty succeeds, each counterparty transactions will introduce around 3 unspendable BTC transactions and these transactions cannot be removed from the blockchain except explicit filtering.
March 27, 2014, 05:17:10 AM
Great news! Pay-to-PubKeyHash Functionality Added
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
Sorry if this sounds like a dumb question but I don't understand the implications - what does " it will be enabled on mainnet with block 293000" really mean since bare multi-sig is still the default method used going forward at least in the near future. Is the protocol capable of automatically switching to pubkeyhash if it fails to create a bare multisig transaction and relay it successfully.
March 27, 2014, 05:13:50 AM
Vircurex is dead. Cryptostocks, which belongs to Vircurex, will die, and issuing shares or paying dividends in Cryptostocks becomes dangerous. As a shareholder, I do not want to lose my shares and will welcome a solution.
Could devs contact cryptostocks to move towards Counterparty protocol ?
Businesses owners in cryptostocks are looking for more stable and secure platform.
One is even moving to Mastercoin (Why MSC and not XCP ?!). It is time to contact business owners, and show them the counterwallet too.
Furthermore, does someone especially know a businness owner in Cryptostocks ? He could convince him to move toward XCP protocol and I am sure Devs would help. I know only one but I am not able to perfectly explain him why XCP.
Could devs contact cryptostocks to move towards Counterparty protocol ?
Businesses owners in cryptostocks are looking for more stable and secure platform.
One is even moving to Mastercoin (Why MSC and not XCP ?!). It is time to contact business owners, and show them the counterwallet too.
Furthermore, does someone especially know a businness owner in Cryptostocks ? He could convince him to move toward XCP protocol and I am sure Devs would help. I know only one but I am not able to perfectly explain him why XCP.
March 27, 2014, 04:55:13 AM
Great news! Pay-to-PubKeyHash Functionality Added
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
Actually quite sad to see this, and wish it will be never used. I understand why Devs implemented it, but this method introduces a lot of unspendable outputs and can never be pruned from the blockchain. Kinds of like ' if you don't let me to do this, I have no choice but to do the worse thing.'https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
Don't think this method cannot be filtered by bitcoin core dev. This is an open source project, any miner can parse counterparty protocol and filter it as easy as us.
BTW, even if we really want to use it, it's slightly better to use PayToPubKey instead. One pub key has 32 bytes, larger than 20 bytes (the size of key hash).
March 27, 2014, 04:31:05 AM
Great news! Pay-to-PubKeyHash Functionality Added
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
Excellent news!
Basically it means that Counteraparty is here to stay.
0.005 BTC/XCP looks like a bragain now.
March 27, 2014, 03:34:15 AM
Great news! Pay-to-PubKeyHash Functionality Added
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
Big news, indeed.
The strong commitment of the developers is absolutely wonderful.
March 27, 2014, 03:20:00 AM
Great news! Pay-to-PubKeyHash Functionality Added
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
https://www.counterparty.co/pay-to-pubkeyhash-functionality-added/
March 27, 2014, 01:05:11 AM
at the time being MAX seems much better to buy and hold till Thursday (at least)
Thank you for your valuable experience to share with us
Good luck
March 26, 2014, 10:03:20 PM
one (probably better informed) individual is buying all of bters xcp 
I think yesterday he started
I think yesterday he started
I think he started the day before yesterday
March 26, 2014, 09:51:29 PM
There was a huge buy wall today at 0.0045. Someone sold 10,000 XCP against it.
March 26, 2014, 08:33:18 PM
BTER Buy Wall. 
March 26, 2014, 07:51:01 PM
So one day in the near future, maybe 2 - 5 years out, when 1% - 5% of online transactions take place in Bitcoin, and 1% - 5% of the stock market has moved to Counterparty, I think it becomes obvious that pretty quickly it will no longer be feasible to run your own node that actually keeps the entire blockchain. Anyone have any thoughts on that ?
If so , what would it imply for xcp and the like?
Well it would imply that (which some might argue even now is the case) that running your own personal "HEAVY" wallet, would be infeasible, without commercial grade hardware and connection speeds.
I believe this might be where Chris Odom's ideas come in with open transactions and trustless servers. We're going to have to get a little less decentralized but keep the trustless nature. I think its inevitable, unless we find some way to more efficiently store HUMONGOUS amounts of data, like petabytes...
EDIT: Similarly if you look back in time to the dawn of the internet (publicly usable) you may have been able to store every known website for a few years, imagine how much space the whole internet would take to store now on each node. While transaction data is tiny in comparison to large amounts of media related data, eventually you get enough TX data and it really doesn't matter.
March 26, 2014, 07:25:46 PM
So one day in the near future, maybe 2 - 5 years out, when 1% - 5% of online transactions take place in Bitcoin, and 1% - 5% of the stock market has moved to Counterparty, I think it becomes obvious that pretty quickly it will no longer be feasible to run your own node that actually keeps the entire blockchain. Anyone have any thoughts on that ?
If so , what would it imply for xcp and the like?
March 26, 2014, 06:20:56 PM
So one day in the near future, maybe 2 - 5 years out, when 1% - 5% of online transactions take place in Bitcoin, and 1% - 5% of the stock market has moved to Counterparty, I think it becomes obvious that pretty quickly it will no longer be feasible to run your own node that actually keeps the entire blockchain. Anyone have any thoughts on that ?
2 - 5 years out ? Wow. Just try to tell us the price of BTC and XCP in 6 months from now, and let's all laugh (or not) end of September...
You lost me.
You are thinking of what will happen in 2 - 5 years, while no one can predict what will happen in just 6 months time.
March 26, 2014, 06:18:07 PM
Paypal has been around for 14+ years and it is now responsible for about 18% of ecommerce transactions. Who knows I guess it could be sooner than that for Bitcoin, was just trying to err on the side of conservative.
March 26, 2014, 06:15:14 PM
So one day in the near future, maybe 2 - 5 years out, when 1% - 5% of online transactions take place in Bitcoin, and 1% - 5% of the stock market has moved to Counterparty, I think it becomes obvious that pretty quickly it will no longer be feasible to run your own node that actually keeps the entire blockchain. Anyone have any thoughts on that ?
2 - 5 years out ? Wow. Just try to tell us the price of BTC and XCP in 6 months from now, and let's all laugh (or not) end of September...
You lost me.
March 26, 2014, 06:14:18 PM
So one day in the near future, maybe 2 - 5 years out, when 1% - 5% of online transactions take place in Bitcoin, and 1% - 5% of the stock market has moved to Counterparty, I think it becomes obvious that pretty quickly it will no longer be feasible to run your own node that actually keeps the entire blockchain. Anyone have any thoughts on that ?
2 - 5 years out ? Wow. Just try to tell us the price of BTC and XCP in 6 months from now, and let's all laugh (or not) end of September...
Jump to: