Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 478. (Read 1276928 times)

What about simply for the community agreeing for temporary high fees on Poloniex, until Busoni recovers the lost?
For example - 5% (instead of previous lower fee). This will motivate other exchanges to join, and fairly distribute the fee (the higher you hold and trade, the higher you pay).

oops posted into the damn ether man.

 
PPLNS Target   79223
 
Round Shares Submitted shares since last found block (ie. round shares)
Est. Shares   79,052 (done: 118.58%)
Pool Valid   93,737
Your Valid   448
Pool Invalid   1,829 (1.91%)
Your Invalid   0 (0.00%)
 
MNT Estimates
Block   955.86588007
Fees   9.55865880
Donation   0.00000000
Payout   946.30722127
 
Network Info
Difficulty   19.29974554
Est Next Difficulty   21.16864877 (Change in 1846 Blocks)
Est. Avg. Time per Block   0 minutes 30 seconds
Current Block   38477

Agreed.


How so?

I hope there's a feasible way to organize it. I wonder if we can organize a trustless vote through Counterparty protocol.. SOmething like that possible ?

Buy MINT

Amount:  MINT
Price Per MINT:  BTC
Total: 0.00000008 BTC
Trading Fee: 0.00000000 BTC (0.15%)
Net Total: 0.00000008 BTC

 
Sell MINT

Amount:  MINT
Price Per MINT:  BTC
Total: 0.00000007 BTC
Trading Fee: 0.00000000 BTC (0.15%)
Net Total: 0.00000007 BTC

Top Sell Orders

PRICE (BTC)   MINT   BTC
0.00000008   15879096.44142404   1.27032771
0.00000009   100399834.32158365   9.03598508
0.00000010   60295182.09033094   6.02951821
0.00000011   17786663.24052223   1.95653295
0.00000012   113358603.17418453   13.60303237
0.00000013   8900000.00000000   1.15700000
0.00000014   5525984.97581342   0.77363790
0.00000015   19337585.96288900   2.90063789
0.00000016   3016797.70547100   0.48268763
0.00000018   6048886.08103100   1.08879949
0.00000019   2100000.00000000   0.39900000
0.00000020   30484755.85963410   6.09695117
0.00000022   22000000.00000000   4.84000000
0.00000023   50000.00000000   0.01150000
0.00000024   1583333.00000000   0.37999992
0.00000029   1000000.00000000   0.29000000
0.00000030   1010000.00000000   0.30300000
0.00000034   258239.08900000   0.08780129
0.00000036   290000.00000000   0.10440000
0.00000038   125114.51640000   0.04754352
0.00000040   3500000.00000000   1.40000000
0.00000042   24800.00000000   0.01041600
0.00000044   245880.45550000   0.10818740
0.00000045   2000000.00000000   0.90000000
0.00000050   6832765.18555500   3.41638259
0.00000054   455169.52190040   0.24579155
0.00000055   125516.40000000   0.06903402
0.00000059   33333.00000000   0.01966647
0.00000060   1000000.00000000   0.60000000
0.00000064   42871.00000000   0.02743744
 
Top Buy Orders

PRICE (BTC)   MINT   BTC
0.00000007   30604381.26374600   2.14230668
0.00000006   88950656.88518286   5.33703943
0.00000005   243630292.54116221   12.18151463
0.00000004   554800278.67321744   22.19201117
0.00000003   512389288.13110687   15.37167867
0.00000002   217786334.07154210   4.35572668
0.00000001   81708902.69055445   0.81708902
Recent Market History

TIME   TYPE   PRICE (BTC)   MINT   BTC
2014-02-20 08:54:57   SELL   0.00000007   275.66969400   0.00001930
2014-02-20 08:54:15   BUY   0.00000008   100.00000000   0.00000800
2014-02-20 08:52:52   SELL   0.00000007   6066.26998300   0.00042464
2014-02-20 08:49:04   BUY   0.00000008   236350.34947579   0.01890803
2014-02-20 08:47:56   SELL   0.00000007   1300.00000000   0.00009100
2014-02-20 08:47:23   SELL   0.00000007   1301.52605400   0.00009111
2014-02-20 08:47:19   SELL   0.00000007   1800.00000000   0.00012600
2014-02-20 08:46:36   SELL   0.00000007   200.00000000   0.00001400
2014-02-20 08:43:12   BUY   0.00000008   37618291.09488717   3.00946329
2014-02-20 08:43:12   BUY   0.00000008   500000.00000000   0.04000000
2014-02-20 08:43:12   BUY   0.00000008   20000000.00000000   1.60000000
2014-02-20 08:43:12   BUY   0.00000008   438214.00000000   0.03505712
2014-02-20 08:43:12   BUY   0.00000008   89181.34147900   0.00713451
2014-02-20 08:43:12   BUY   0.00000008   5186329.00000000   0.41490632
2014-02-20 08:43:12   BUY   0.00000008   3000000.00000000   0.24000000
2014-02-20 08:43:12   BUY   0.00000008   1000000.00000000   0.08000000
2014-02-20 08:43:12   BUY   0.00000008   500000.00000000   0.04000000
2014-02-20 08:43:11   BUY   0.00000008   1345985.51361700   0.10767884
2014-02-20 08:43:11   BUY   0.00000008   5000.00000000   0.00040000
2014-02-20 08:43:11   BUY   0.00000008   10000.00000000   0.00080000
2014-02-20 08:43:11   BUY   0.00000008   2000002.00000000   0.16000016
2014-02-20 08:43:11   BUY   0.00000008   200000.00000000   0.01600000
2014-02-20 08:43:11   BUY   0.00000008   869952.21453534   0.06959618
2014-02-20 08:43:11   BUY   0.00000008   22714795.40386100   1.81718363
2014-02-20 08:43:11   BUY   0.00000008   9530.41263900   0.00076243
2014-02-20 08:43:11   BUY   0.00000008   489999.99999998   0.03920000
2014-02-20 08:43:11   BUY   0.00000008   2000000.00000000   0.16000000
2014-02-20 08:43:11   BUY   0.00000008   5490.26650300   0.00043922
2014-02-20 08:43:11   BUY   0.00000008   627615.41021801   0.05020923
2014-02-20 08:43:11   BUY   0.00000008   50000.00000000   0.00400000

Ok so once Bitcoin QT is done reindexing, I can simply import my private keys and then.. install the counterparty exe file ... and then I can start using counterpartyd from command line and I'm good right ? Nothing else ?

I don't think I quite get the Counterpartyd.conf file...


Bitcoin.conf

Counterpartyd.conf

Is this going to allow counterpartyd.exe to work after reindexing the bitcoin block chain ?
Is there ANYTHING ELSE ? I need to do -___-

OK, so it sounds technically feasible.

To properly address earlier concerns from halfcab123 and lonsharim (and probably many others), it seems we would need to hold a vote of all XCP holders in order to ensure 51% support prior to instituting such a measure.  Is there an easy way to conduct such a vote?

That's completely defeating the purpose of PoB.

Not Going to Happen.

Busoni is still working a solution, wait for a proposal and then we'll start discussing for a compensation if someone is in the red.

It's in alpha, it is written in red in the first post, these kind of things were going to happen, and might happen again (with a lower probability now)

Personally I've traded a tiny part of my XCP on poloniex, because trading more than 2-3% of your holdings at this stage is foolish. If I lose them because of a bug in the alpha, a hack on an exchange, of whatever, I wouldn't complain.

Interesting, not sure how this will be played out, but after investing a sizeable amount into counterparty yesterday would be quite disappointed to lose a decent chunk of my coins as a result of the hack.

Would be a perfect time to get those proof of burn coins out

Can anyone link me to a well tested windows GUI that has setup documentation ?

Hard code into the next version, recognizing an address that PhantomPhreak controls as having a balance of 35,000 XCP on the first block. Then, PhantomPhreak sends this to busoni.  I would think it could be a 1 liner, not too hard?

I would hope that, if this is done, we can also set a date for when this type of fix is permanently "off limits". Maybe 6-12 months from now. In other words, a date where we all agree it is no longer Alpha software, but Beta.

And secondly, raise a pool of funds (controlled by PhantomPhreak?) to have a security audit done by an outside party, before we declare the transition from Alpha to Beta.  I would donate to this and I think many others would too.

I know I sure am talking alot lol. I'm very excited that this counterpartyd thing is starting to sink in. 

I'm not running my bitcoin-qt in a virtual machine as I've seen so many advise doing. Is that a must for top-security of the private keys?
Is wallet encryption not enough ? Can you encrypt the wallet and still allow counterpartyd seamless communication with bitcoind/bitcoin-qt ?

Are there any other precautions security wise I should be taking ?

Is it imperative that I switch to using a virtual machine for this ? 

Does anyone know what happened to Bitshares/PTS ? Why the huge jump in volume ? $5 million + ? Was there a breakthrough of some sort ? They are nearing the $30million market cap which they have only reached briefly before during the Chinese pump in early December. I find this situation very curious considering they are a direct competitor with Counterparty along with Mastercoin and NXT.

The very best solution is for the hacker to quickly agree to send the BTC back.

If he does not send the BTC back, then the hacker will endure the pain and psychological suffering that comes with being a thief. And under this circumstance, the latest proposal to spread the loss equally over every XCP holder as a form of quantitative easing may have merit from a distributional standpoint, however, I wonder if it is technically realistic?  How would this solution actually be implemented?  

Ok so I'm reindexing with Bitcoin-Qt.exe --reindex

Is this ok for my bitcoin.conf


Is it ok that daemon=1 is set ?


ALSO! One other question.

I have tried importprivkey command via the bitcoin-qt console
and I've only managed to get 5 of the 15 addresses to show.
How on earth could this be so difficult ? lol.

None of your statements are wrong, except for the recourse you have in mind, I agree with everything else.

You are right, hackers will hack, however, the hacker in touch with busoni explains the exploit and talks about returning back everything he took and then does not respond for the next few hours. What message do we sent when we are ready to fill the breach in this fashion.

Secondly as you yourself point out, its alpha stage, you use your xcp at your own risk. It has been stated in no uncertain terms by the OP. The current situation does not warrant a wide spread use of the coin, I would like to trade my coins too but I would rather wait for the whole system to mature before I do anything. This is not to say early adopters and the curious minded shouldn't do anything, just that you need to be aware of the risks involved.

I am all for a community consensus to fill the loss borne but it think at this stage its premature to talk about and it needs to be filled from our pockets rather than just generate an extra 35k. 

My idea would not encourage hackers any more then the current situation. Hackers will hack, either way.

And besides, that is not a bad thing, we WANT bugs in the protocol to be found as soon as possible.

It is just a matter of deciding who takes the loss now, how to minimize the bad feelings.

Why punish the very first exchange that was brave enough to carry Counterparty? By letting busoni or his users take the loss, we send a message, "Lesson: don't use counterparty, you could lose your money".

The current situation rewards those who hoarded XCP and did not trade (share) it with new users. My idea spreads the damage so thinly that nobody really notices.

Also, this would not be the response in the future. This could be limited to "Alpha" stage only, and once the developers declare we are out of Alpha, it would never be done again.

You are right, it would undermine consumer confidence if this were done a year from now. But it is so early now that my idea would actually create consumer confidence, I think!

Inflation is less scary then having your money stolen on an exchange. Almost all altcoins have inflation and nobody notices. I would rather put my money and time in a software that deals with protocol bugs with inflation then thinking I could lose 100% of my money at any time with no recourse.

Really a terrible idea! It will kill Counterparty XCP!