I'm inclining to agree with Adam that the biggest problem with bitcoin is the core devs, and that the best course of action for Counterparty is to expect nothing from them, except perhaps deliberate obstructiveness, and move to considering Litecoin, or some other faster blockchain without the baggage of these guys. I don't see much constructive development from them over the last year in comparison to what the Counterparty devs have acheived in a few weeks anyway. They seem a lot more like traffic cops than devs on any open source project I've come across.
If Counterparty is on top on Litecoin, would that mean IPO/Betting/CFD settlements will happen in LTC?
If so thats really sucks. People want to use BTC, not litecoin, freicoin or whatevercoin.
Without BTC as the backbone of the value exchange that happens within Counterparty, Counterparty will dramaticly lose its appeal.
People want to use BTC because it offers the most value of available alternatives. If Litecoin offers not only all its advantages, but has Counterparty on it where Bitcoin has chased Counterparty and its features away? I think suddenly Litecoin has some features that are very important and that Bitcoin lacks.
People are looking at the situation as saying "Bitcoin will always be big because it already won" but what isn't appreciated is that in open source, the competition never ends because there is no lock-in. To this point we haven't had a critical mass of "better than bitcoin" features, but I would argue counterparty with dividends and arbitrary assets is head-and-shoulders important. And ironically, Bitcoin is one of the worst blockchains technically to build XCP on because it has a 10 minute blocktime.
Compared to banking? 10 minute is screaming fast. Compared to Litecoin? Or Florincoin? It's ages. For confirmations that didn't matter, you just needed more confirmations. But for counterparty, block time = action granularity as in you can't see the result of your action until a block has passed, so it stops being a flawed security argument (you can accept tx after only 2 minutes!) and starts being a "Your actions take two minutes to happen, and you never lose control of your funds!" compared to "your actions take ten minutes to happen, and you never lose control of your funds!"
So yeah, frankly I think Bitcoin devs should be going out of their way to enable tech like this. This is killer-app grade stuff, and if it's not Bitcoin's advantage, it'll be some other blockchains advantage.
) trying to figure something out but nobody knows for sure because, mastercointalk.org is mostly ignorant of the issue (one thread in technical subforum and no answer to their approach).
