Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 402. (Read 1277011 times)

Excellent job! It looks really promising, can't wait

They all look bad ... Current one is still the best option.

Latest Counterwallet development update (with new screenshots):

https://forums.counterparty.co/index.php/topic,79.msg1235.html#msg1235

The protocol sits on top of the bitcoin blockchain, As I understand XCP transaction details are embedded inside the bitcoin transaction, piggyback style. What this means is that you need XCP to purchase any user defined asset at least at the protocol level. As this system matures I am guessing more sophisticated clients will come out that might do what you say. It is however not possible with the protocol itself.


If the value of XCP goes up, you can expect the cost of issuance to go down proportionally. 5 XCP is set only as a deterrence so that only people serious about issuing assets will do so.

Can you double check the link? Page not found.

link doesn't work

Poll for 99designs logo competition (cross-post): https://forums.counterparty.co/index.php?topic=180.new#new

My current impression is, greed-wised, msc, xcp, bts, ether are rent seekers, cc is not. msc, xcp can do things more sophisticate, whether they are needed or not, than cc. Ether can do more things than msc, xcp, but it will be running on a new chain, which I doubt if it could gain traction, it's like javascript running on IPX protocol, where msc,xcp are html run on TCP/IP, history says the crowd give no poo to alt TCP, even ipv6 is still tiny minority. Bts is same situation as ether, but their devs so far are the weakest of all. The main differences of msc and xcp are xcp is available, msc is not, and msc runs by organization while xcp runs by comunnity, msc likes to wait things to be perfect before release, xcp releases them as soon they are good enough, and let users test them out.

btw, I forgot to mention peershare which aims for practicality than rich features promise, but they will be running side by side with peercoin chain,

there're also nxt, enumie but not sure if they are focus to do bitcoin 2.0(I don't even like this word btw) protocols other than to compete with bitcoin

The 5 XCPs while creating an asset get destroyed or 'burnt'. They don't go to Developers.

It has a forum but here we are.. I'd rather everyone did use that forum.

The thing is, though, that as bitcoin grows, then the market cap of counterparty can grow without the XCP/BTC rate improving. So, say you think the market cap of XPC should be closer to 200M in dollar terms, and will get there in 2 years time, that could happen simply by the BTC/dollar rate improving. (Imagine a world where bitcoin has taken over fiat currencies and is worth hundreds of trillions, XCP would also have to be worth trillions to have an XCP/BTC rate of 0.1)

I haven't fully got up to speed, but is it possible for counterparty to be hugely successful, but still have a small XCP rate? Are XCPs truly needed, or can many asset classes be traded on the bitcoin network via the counterparty protocol but without requiring XCPs? As I understand it, 5 XCPs are required to create the asset, but are they needed after that? (Those 5XCPs are paid to the developers, right, for the improvement of the protocol? What happens when the system becomes stable and developers aren't really needed, where do those XCPs go then?)

If the value of XCP goes up to say 0.1btc, and btc goes to 10K dollars, then creating a counterparty asset would cost 5Kdollars, which might be a problem for the continued adoption of counterpart. However, as I understand it, that 5 XCP fee can be reduced. Is it that fee which creates the demand for XCP, and if so, will it be manipulated to keep the asset creation cost down? Would that manipulation also change demand for XCP, and thus affect the BTC/XPC rate substantially.

Sorry if these are dumb questions, just trying to understand the XPC economy.

Err..not really. Counterparty has its own forum here https://forums.counterparty.co/index.php.

Well some of them have forums that they use for multithreaded discussions; Counterparty seems to prefer putting everything in one place.

Ok...

Mastercoin, Colored Coins, Counterparty.

What's the overall protocol strengths and weakness comparisons at this point in time ? Let's hear it! The good the bad and the ugly.

Yes and as I mentioned on the Buy/Sell thread, I don't care to have my Bitcoin escrowed for some indeterminate amount of time, I guess I can cancel, but I'd rather go ahead and do the deal verbally with someone, and then go for it on the DEX that way, my bitcoin are not locked up unnecessarily. If that's even how it works, I'm not sure.

Can you explain in which way the Private keys correspond to the ownership of the physical gold stored? Is the gold only redeemable by private key and in no way by your request without being provided that key on behalf of an owner to make the redemption?

Much gratitude from our team. Your referral to James Turk is helpful. We were aware of GoldMoney, but not of their bitcoin trials and struggles. We will reach out to him to connect as I think we might learn from their actions and we may be able to add value to their efforts with bitcoin and Counterparty.

Thank you.

You might put James Turk, founder of GoldMoney.com, into the mix. He had been quite skeptical of Bitcoin, but more than a year ago, after doing a lot of his own research, he embraced cryptocurrencies and had been trying to use them at GoldMoney.com. I don't know exactly how, though. He's very critical of the entrenched powers and their abuse of the gold market in order to support fiat currencies. So he not only has a great deal of knowledge and experience about the gold and other precious metals markets, he is very interested in how cryptocurrencies can disrupt the destructive and corrupt politico-economic systems in place now.

I have no idea how to get his attention. I am sure that wealthy, influential people like him are bombarded with "great ideas" all the time by naive entrepreneurs. But if you make a solid business proposal (and it sounds like you have a very solid beginning), he might listen.

Google "James Turk Bitcoin" and you'll find a few links, including this interview (http://bitcoinmoney.com/post/31942156510/james-turk-felix-moreno). He's been trying to integrate Bitcoin into his business, but I'm not sure how successful he's been. (And I haven't done all that much research.) It would be easy-ish to take payments in bitcoin (several companies are already doing it), but what you're proposing is far more advanced and interesting.

These are great companies. Thank you and we will reach out to them tomorrow as we build a matrix of these vendors with whom we can work.