Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 404. (Read 1276842 times)

Awesome. Thank you for this. Great FAQ Answers that I'll add to our FAQ. How does uncle Sam view this.

• We are simply acting as Custodian to the physical gold.
• Only the rights to the assets are traded and they must be traded whole. None of the digital gold coins are divisible
• We're avoiding the E-Gold issue by avoiding any centralizing trading of gold coins.
• All trades will be on Counterparty P2P protocol.
• We do not charge trading fees only wallet software access fees
• We also charge for custody, security, and redemption

These are great questions. Thank you!

http://bitcointangibletrust.com/wp-content/uploads/2014/03/Counterparty_slider-gold-bars.jpg


Our Mission:
We aim to be a physical gold custodian, digital gold asset issuer, and P2P decentralized exchange platform for our gold customers.

Will you the Counterparty Community help us in the following?

• Ask us any questions in this thread that we should address on our FAQ
• Tell us your thoughts about the issues you think are important to making this Counterparty startup a success.

Hey guys,
as I've just posted on the official forums:


Windows build 009 for BoottleXCP is now available.
Includes the latest commits and counterpartyd daemon release 6.6:


https://github.com/JahPowerBit/BoottleXCP_binaries/releases

GPG signature for the executable:

If you actually have gold reserves and don't take the proper registrations, I'm pretty sure Uncle Sam will come, but I like the idea. But remember E-Gold went down for the very reason it was centralized. So you have decentralized trading of IOUs but centralized reserves.. any centralized point is a point of failure and adds counterparty risk. Maybe this is a moot point idk.

FAQ link above I wonder should be http://bitcointangibletrust.com/faq/

Could do with making obvious whether delivery outside US is practical and whether that then has ++fees for that.

These currencies are able to be traded P2P through the Counterparty DEX system (as DEX "asset"s) and enable USD P2P trades to be done natively against any other DEX tradeable assets such as XCP, BTC, MPTSTOCK, MPUSD, MPBTC,  etc. Many possibilities exist for purely P2P exchange using these assets.

MPUSD are available from us through trades negotiated through Torchat, FB messenger, the XCP DEX system, or other channels we choose to use (such as Agora Marketplace, link in sig).


1) MPUSD / MPBTC holders will always get priority redemption at 100% full face value for our Moneypaks (MPs) via Torchat or FB messenger as well as any future distribution methods we use for selling MPs.
This means that if you have MPUSD / MPBTC, you can redeem them with priority over holders of BTC or other cryptocurrencies.
i.e. If you contact us through Torchat and want to redeem 2000 MPUSD (currently ~ 3.15 MPBTC) for MP's we will trade you all our available MP's up to $2000 in exchange for your 2000 MPUSD or 3.15 MPBTC (up to the value of MPs we have available, which replenishes every day. Example: Only 1800 MPUSD are redemmed if we only have a $400, $500, $300, and a $600 MP in stock, but no $200 MP to round out the 2000). NOTE: MPs must be redeemed and cashed out promptly, generally within a few minutes.

2) MPUSD / MPBTC can be redeemed through us for USD CASH mailed to ANY continental US address (including POBoxes) for a maximum fee of 15% (you receive 85% in USD CASH in mail). This is a permanent service, contact us through torchat or facebook messenger to order some cash.
BONUS: Orders placed in March are eligible for a promotional 5% rate (you get 95% in CASH mailed to you).
FEES/LIMITS NOTE: 10 MPUSD Priority or 20 MPUSD Express Shipping fee applies. Limit of $1000 per address per 7 day period.

3) MPUSD / MPBTC holders can redeem their MPUSD / MPBTC through us for BTC AT 100% FULL VALUE!
MPUSD / MPBTC holders can redeem their MPUSD / MPBTC through us for XCP, NMC, or other digital assets/altcoins for a maximum 15% fee. For the month of March, this fee will only be 5% (i.e. you get 95% of the asset requested).

4) In order to guarantee redemptions, we will maintain at least 100% Bitcoin reserves for the outstanding MPUSD in our business address: 1MPUSDQ7MVrqbSTFfacNP1V9KBooz9XKgy
In order to guarantee redemptions, we will maintain at least 100% Bitcoin reserves for the outstanding MPBTC in our business address: 1MPBTCrAZPxR8dzUJc69R6RnbvVgVtKuaT

You can see we have FAR more BTC reserves than the externally held MPUSD and total issued MPBTC and we pledge to continue to maintain adequate reserves by not selling more MPUSD / MPBTC unless our reserves would be at least 200% for MPUSD (to prevent bitcoin price fluctuations from lowering reserve value below outstanding MPUSD value) and 100% for MPBTC.
In the unlikely event the BTC/USD value falls and causes the MPUSD reserve value to be less than the outstanding MPUSD, MPUSD will only be able to be redeemed through us for the full proportion of BTC held in the reserve account.
Historically, BTC prices rarely drop more than 50% so our 200% reserve goal should be adequate.

Others will (hopefully) trade our assets/currencies to increase liquidity.
We are open to partnering with other trusted bitcoin people/groups to further distribute / guarantee redemptions.

NOTE: MPTSTOCK is the publicly traded investors asset for moneypaktrader.com with profits distributed on a monthly basis.

Blah Blah Blah

But you take offense to our knowledge distribution in this thread? You want people to decide for themselves without our shared knowledge. . .

You're ignorant of our contributions and you write "spamming and complaining about the protocol, and now you are attacking the dev's personally as well" without explaining that at all. . .
We try to stick to the facts as well as revealing less widely accepted facts (to potential buyers of our alt-coin holdings) to avoid accusations of non-disclosure, when you don't use facts in your attacks it makes them useless opinions.
We offered great advice to the direction that developers should take and several implementations flowed directly from those despite others being ignored.
See: https://forums.counterparty.co/index.php/topic,71.0.html

FULL DISCLOSURE, OP omitted some info in title post: the XCP devs use a moderated thread, use anonymous identities with no trust history, deliberate privately about XCP protocol and software changes without disclosing in advance the nature of such changes that are implemented (using the "it's open source" mantra), and are controlling the fate of huge sums of digital assets/value by doing such.

Serious trolling by MPT today.

I think we've heard your point. People are not idiots and can decide for themselves.

Why don't you put all your XCP for sale on the DEX (instead of trolling it) and give us a break ?

Well, - I don't really get it - someone wrote the entire Counterpartyd Code, released it on terms no more advantageous to himself than you - and you who have contributed nothing to development or bug testing but just burned BTC are constantly spamming and complaining about the protocol, and now you are attacking the dev's personally as well.  

Serious trolling by MPT today.

I think we've heard your point. People are not idiots and can decide for themselves.
[Completely idiotic question/s omitted/ignored]

MoneypakTrader is never going to let me live down the incomplete phrasing I used when arguing that tx fees are required if you want your transaction to be confirmed in any reasonable amount of time. 

I should just kill myself now. /wrists

YEAH!
Thanks for correcting your regression!
That's one good thing about everyone using the same piece of centrally controlled and developed software/protocol, the dev can push a quick fix for problems (regressions or other dev perceived problems), force stop all the old versions from working (using that "contact the dev every time a command is attempted" "feature" of the software) which encourages users to update to the recently released version of the software (or they have to stop using it due to the "upgrade" or "can't connect" error).
NOTE: Yes, you can apparently use the --force option on every command you issue to avoid it from using the "contact the dev every time a command is attempted" "feature" of the software.

Great Work on the XCP altcoin, protocol, software, and asset trading system, to the moon for the XCP 2nd gen altcoin!

There were a couple of regressions in the dividend and issuance functionality of v6.6, which I was made aware of a couple of hours ago. I pushed fixes to both branches just now.

Plenty of XCP still available for sale.

We're available on torchat or FB chat to sell XCP, great time to buy! low prices.

FULL DISCLOSURE, OP omitted some info in title post: the XCP devs use a moderated thread, use anonymous identities with no trust history, deliberate privately about XCP protocol and software changes without disclosing in advance the nature of such changes that are implemented (using the "it's open source" mantra), and are controlling the fate of huge sums of digital assets/value by doing such.

So what would you think would be a reasonable price for the coin? What makes you think it has so much potential to rise so much? Obviously market value reflects the benefit of a coin.
Indeed I think its too much technical for average Joe to enter the market...