Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 415. (Read 1276881 times)

To wash the bad taste out of all of our mouths left by halfcab heres an update to JahPowerBits GUI.
Keep in mind this is a mockup and certain elements/fonts will or have been changed. There are certain elements like the bottom footer bar that have yet to be completed.

This is one of two additional themes (so far) that will be included in the final version and is included as thanks for donation from one of our users. Once he okays the design I will be finishing it and including it in the GUI.
It is titled: Flyway



Remember if you want your own theme included you can donate to JahPowerBits development fund and request any theme style you can think of. You can send me descriptions, links, pictures, etc to get your idea across.
Thanks everyone!

I know you have got a bit of a negetive/discouraging feedback here and I am not trying to add on to that but I couldn't ignore the glaring gap in what you are saying.

The value of a bitcoin or any other alt-coin is determined by the market. Bitcoin was not even worth a penny when it started out. It's growth and price are determined by the market. VBCOIN however is not market determined. It is pegged to 0.001 without anyway to validate its worth and being backed by nothing in the real world.

Other IPOs also predetermine a price and many of them have turned out to be scams. Others like XCP have had to prove a PoB in order for the creators to show bona fide intentions and a source code repository to show progress without which there would be no real value or need for it.

If VBCOIN were to be fully subscribed by the community you would have 2500 BTC with you (presuming that 50% would not be available for purchase since its going to be given away) How do you resolve the issue of trusting you with 2500 BTC ($1,625,000 @ 650) of which you have broadly set up a marketing budget of 500, what happens to the other 2000? Do you not see why it is reasonable for someone to point out that you are getting rich with it even if you are giving away 50% to the public.

I believe for your coin to have any success it must have some trust factor. You cannot raise that much money on purely good intentions. Perhaps you need to involve more prominent members from your local community, transfer 50% of your issue to someone who is independent of yourself. Give more details on who receives the 2000 BTC raised in the IPO and if it is you when why do you deserve to be given 1.3 million dollars.

Did anyone else get this error on block 289348?

While maxmint could theoretically make his fee_required high enough to avoid troll orders, whatever fees users had to provide would be added to his service fee (.01010101 BTC), which would most likely discourage some users from buying XBTC.

It's still centralised since the person there is only a small number of people holding BTC and you do need to trust them to not run away with your money.

That said, the way that the service will be run will be in complete transparency and the ways in which the service can be hacked is greatly reduced due to the way it is run.

Ok, I've got a question about BTC/XBTC/XCP

Why don't you put a permanent sell order of 1000 XBTC for BTC (to begin with) at 1/1 rate. This could decentralized the BTC -> XBTC process. Of course to get your BTC back, you can put a but order at 1/0.99 rate, and maxmint (or another from the XBTC team) agrees to provide liquidity and process (btcpay) them all, and he gets his % that way ?

Maybe this is a trollable system ?

Hi Christopher,

Let's just ignore the negative sentiment for a moment.

Would you be able to explain to us why we should invest in the IPO. Tell us more about Virginia Beach and why you think this coin is good for it. What public works are on your priority list? In what ways do you see VBCOIN being used?

how is giving 50% of a nations money supply to foreigners (whether investors or miners, etc) fair?  I think it should be a lot lower.

I don't think we are missing the point.


You are trying to profit off the perceived success of aurora coin.
You are holding 5,000,000 of your "coin" and are trying to sell them for 1,000 = 1 BTC.
So you think you are holding 5,000 BTC worth of some piece of crap asset that has no value outside of counterparty?
No offense to your city intended.
But even if you were to pledge 50% of that to your city, do you really feel you deserve 2,500 BTC?
Honestly?
Again, aurora coin was a success because it implied it would be free and fair. By giving these coins to the people, they would spread adoption. By selling them you are only giving them to investors, not spreading adoption and fattening your own wallet.

Obtaining XBTC is centralized (even when it is automated, it will still be centralized). But XBTC greatly increases the ease of and simplifies trading on the DEX.

Not sure I follow

This is a centralized way to trade, right?

In this case, I suggest you buy some SFMSTOCK via counterpartyd, LOL. I doubt it anyway. http://blockscan.com/assetInfo.aspx?q=SFMSTOCK

Yes, it simplifies trading on the DEX and allows you to avoid the need to btcpay and avoids troll orders.

There is however an additional step to then cash back out to BTC if you didn't want to continue to hold XBTC. You send your XBTC to:

13sGFVPgcrj9mMRokyXztdAJtg6kReofdV

And you will 'automatically' get BTC. The service isn't fully automated yet and maxmint is performing the exchange at a fee of 1%. When the automatic service is live the fee will be 0.1%

For example:

That's wrong.

I could issue shares for example because I am raising funds to buy a big lottery ticket and share any winnings with shareholders. The shareholders would need to trust me I would pay them out if I won.

You still have to trust companies that they will pay dividends.

any wallet that is made to support counterparty protocol will be useful for any asset issued. How can you guarantee any asset is useful ? How can you guarantee Bitcoin has value ? Is it backed by gold ? I don't feel like I should have to explain these things, its quite obvious that the value of any asset is necessarily backed by the usefulness of the protocol. It is then the marketing and adoption rate of the user based which adds value to the specific asset. I honestly do not see any difference between issuing a coin in Counterparty and cloning litecoin and calling it cutecoin and holding an IPO. In any case, I'm going to give it a go and see what happens.

The second question: who will develop VBCOIN wallet/client? How can you guarantee VBCOIN will be useful in Counterparty? Are you holding a company?

I think you guys are sincerely missing the point here. A clone coin is useless and yet it is not. Anything issued with counterparty can be used as a store of value, you guys sound like old-world money holders arguing against Bitcoin lol. You think I'm aiming to get rich ? that's real cute, pay attention to the 50% for the city part. I want to user Counterparty to create a store of value that can raise funds for a city, potentially even become of some currency adoption in the area. All the BS issued assets, at least I'm trying to do something with mine. I think you guys are being unfair, but thats cool.

Triple ? Based on what ? People have to stop thinking being in a pool with 432432 shitcoins will X100 the value. Give money for the bounties or the GUI instead, this is the only smart thing to do.

lightweight web wallet will save us all.