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Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 446. (Read 1276912 times)

member
Activity: 113
Merit: 10
...

And the following DEX features are lacking (or please point me to the docs if I'm not up to date):

  • minimum match quantity should be selectable when placing an offer. If I want to sell 100x I might not want to to have 100 trades of 1x, especially if the process is not automized
  • multisig escrow solution. Trading XCP/BTC is ok now because both are built on top of the same blockchain and the protocol can act as the escrow. But If I would like to trade PPC for BTC, how would that work trustlessly?
...
...

As a side note, in your question about trading for PPC is that because you are interested in the utility of PPC? ie you want to use PPC to purchase goods or proof of stake. Or are are you interested in PPC as an investment opportunity and wish to participate in the price movements?

If it is the latter, then you do in not need to own PPC in order to be able to participate in the price movements of PPC. In theory, with a bull CFD on a BTC/PPC broadcast feed, with a leverage of 1, you could participate in the price movements of PPC without owning PPC. Do note though that the payouts for bets and CFDs in Counterparty is in XCP.

What I meant is trading for "real" PPC (or whatever cryptocurrency/asset/token with its own blockchain/ledger). I understand that CFDs could do the trick for short-term speculation (however; we need trusted broadcasts first). But as I am more of a long-term investor wanting to diversify, CFD are a bad option. I believe that even if the concept of BTC and XCP is here to stay - BTC and XCP probably are not. And I don't want them to take my CFDs with them when they go.

Neither do I favour an IOU-concept like ripple for my purpose (which, as I understand could work in XCP as well..).

But a nicely working trustless DEX would of course be revolutionary...
full member
Activity: 209
Merit: 148
Can someone share a counterparty DB snapshot (or make a torrent or something, like the bitcoin devs do now) so I don't have to sync from scratch? It's only for testing, so I'm not worried about fake tx.
member
Activity: 82
Merit: 10
Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.
+1 Agreed.

It's a significant disadvantage to have to own XCP in order to trade XCP/BTC in DEX. We are basically telling all new users to first go and purchase XCP (from others or a centralized exchange) outside DEX before coming and buying some more. It raises the entry barrier for new adopters. The system needs to be made simple for new users, not difficult.

I understand the serious issue of trolls. I didn't understand how miners don't have to pay fees to troll the order books and collect the fees but I take PP's word for it. A more dummies explanation would be desirable.

It's a significant disadvantage, yes, but I don't see any good alternatives.

They can construct the troll tx, wait to find a block themselves, and then include the tx in it. Then they get the fees they paid in the tx.


Maybe silly idea, but is there a way to code this so that a user has an option of sending either BTC or XCP into the escrow?
member
Activity: 82
Merit: 10
I suggest everyone put a link to my beginners guide in their signature. As it will help direct new investors and other folks who are dying to start using counterparty to get started easily

Code:
Counterpartyd Installation for dummies -- http://goo.gl/z5algZ


Nice job on the guide halfcab123!

Really small thing:  personally I find the bright red font at the beginning to be a turn-off;  it dissuades me from wanting to read the rest of the guide.  Maybe you can find a font that is a little more pleasing to the eyes?  
member
Activity: 82
Merit: 10
Quote

And get over what ever happened between you and that French girl.  I feel sorry for her, you seem heartless.
 

LOL.  +1
full member
Activity: 196
Merit: 100
It's a significant disadvantage, yes, but I don't see any good alternatives.

Maybe a solution can be found outside the protocol built on top of it rather than force one into it.

An issuing authority, automated or even manual at this stage that swaps BTC 1=1 for a XCP asset called XBTC at a designated public address. I understand trust will be an immediate concern but if initiated by someone of repute within the community (like the counterparty devs) it might just get adopted especially since the protocol supports escrow.

It's strictly not 1=1, rather 1 + 0.0001 BTC = 1 XBTC and 1 XBTC + 0.0001 BTC = 1 BTC.
sr. member
Activity: 476
Merit: 300
Counterparty Chief Scientist and Co-Founder
Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.
+1 Agreed.

It's a significant disadvantage to have to own XCP in order to trade XCP/BTC in DEX. We are basically telling all new users to first go and purchase XCP (from others or a centralized exchange) outside DEX before coming and buying some more. It raises the entry barrier for new adopters. The system needs to be made simple for new users, not difficult.

I understand the serious issue of trolls. I didn't understand how miners don't have to pay fees to troll the order books and collect the fees but I take PP's word for it. A more dummies explanation would be desirable.

It's a significant disadvantage, yes, but I don't see any good alternatives.

They can construct the troll tx, wait to find a block themselves, and then include the tx in it. Then they get the fees they paid in the tx.
full member
Activity: 196
Merit: 100
Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.
+1 Agreed.

It's a significant disadvantage to have to own XCP in order to trade XCP/BTC in DEX. We are basically telling all new users to first go and purchase XCP (from others or a centralized exchange) outside DEX before coming and buying some more. It raises the entry barrier for new adopters. The system needs to be made simple for new users, not difficult.

I understand the serious issue of trolls. I didn't understand how miners don't have to pay fees to troll the order books and collect the fees but I take PP's word for it. A more dummies explanation would be desirable.
legendary
Activity: 1120
Merit: 1000

im running counterpartyd on windows built from the git depository

what is the correct command to update

setup.py
setup.py update
setup.py build

is it normal for counterpartyd to rebuild the database each time?



setup.py update I think and yes. Someone should confirm this though.

To update:

cd counterpartyd_build
C:\python32\python.exe setup.py update

It does not rebuild the database every time, only sometimes.
full member
Activity: 238
Merit: 100
Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.
+1 Agreed.
newbie
Activity: 59
Merit: 0

im running counterpartyd on windows built from the git depository

what is the correct command to update

setup.py
setup.py update
setup.py build

is it normal for counterpartyd to rebuild the database each time?



setup.py update I think and yes. Someone should confirm this though.
hero member
Activity: 617
Merit: 528
An XCP faucet that sends an amount of XCP enough for 1 purchase on the DEX would solve this, and also give people an incentive to join. Don't know if this is feasible.
newbie
Activity: 29
Merit: 0
Cross-post proposal for protocol change: https://forums.counterparty.co/index.php?topic=132.0

+1 for XCP escrow replacing the unwieldy BTC fee system entirely!

Glad to see progress is being made on this.

One suggestion I have is: make the XCP escrow a fixed amount of XCP instead of a percentage. Calculating percentages is frustrating for people and adds an additional barrier to using the DEX--this has been demonstrated by the many questions in this thread about how the BTC fees work.

It is much easier/more intuitive for the seller to calculate a percentage himself and use that as the fixed XCP escrow amount than the other way around.

Does that mean I should have XCP balance to use DEX?
newbie
Activity: 56
Merit: 0
sr. member
Activity: 476
Merit: 300
Counterparty Chief Scientist and Co-Founder
newbie
Activity: 56
Merit: 0
XCP's market cap has now exceeded Mastercoin's!

P.S. Bear in mind, that the current valuation is WITHOUT a popular desktop GUI (bounty still being decided I think) and web wallet.

P.P.S. How long do you think it'll be before the media perk up and notice a new Top 10 (or even Top 5?) coin?

Please let it be after the new site is up.

Yea, things are moving way too fast. I wouldn't mind for value to stabilize at 0.01 or even below until the whole metric ton of work in progress things comes out:

- New site
- New design
- Web wallet
- GUI wallets for Mac and Win
- News articles
- A whole bunch of guides and FAQs
- (and the most important thing) real people issuing worthwhile assets and feeds for their projects

Is there an ETA for any of these projects?

If Matt Y had the time to update us on each item, that would be amazing. If you are all busy making the magic happen, please ignore the request and keep up the great work Smiley
legendary
Activity: 1320
Merit: 1007
Halfcab, you can add to your guide, that when installing or updating counterpartyd using cmd, be sure to run cmd as administrator or it will fail.

great job on the guide  Smiley
legendary
Activity: 1120
Merit: 1000
I'm really looking forward to the web client that will be released in a few weeks. That has the possibility to change everything, IMO. It will be something easy and functional for novices and those who aren't running a full bitcoin node.

XCP has gone through two "waves" of adoption so far. Obviously, we have the early adopters who burned or who bought immediately after the burn period. Then we have the tech-savvy who came a little later and are accumulating XCP on Poloniex or the DEX. The GUI makes life so much easier for both of us groups, but as you can tell from halfcabs excellent setup guide, the hurdles to setting up counterparty are still rather large. Finally, once the web wallet is released and goes "live" in a few weeks, we'll see the less tech-savvy "mainstream" users begin adopting counterparty and actually putting it to use with betting, asset purchases, etc.

As you all know, mainstream adoption means prices go through the roof. Stay tuned for a fun ride, I think!
full member
Activity: 238
Merit: 100
Counterpartyd Setup for Dummies
Windows Edition
 Cool

HalfCab, great job. Once we have a few new users try these and have a chance to add/refine the instructions. We should have link to these from the website/front page of this thread.
Again, great job and thanks for doing this.
legendary
Activity: 1120
Merit: 1000
Brilliant work, halfcab!! You may also want to mention/link the current bootstrap.dat torrent for anyone who does not already have qt installed.
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