Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 492. (Read 1276923 times)

Do you guys think it's safe to leave a decent chunk of XCP sitting on poloniex for a couple weeks, so it's ready to sell if I like the price?

Is it still taking 1.5hr to deposit there?

I don't want to miss out on another chance to sell some at .027 BTC/XCP.  But, I also don't want to lose a decent chunk of XCP due to exchange issues.

They are using knockoutjs on the UI side and this will make any design transition a much more simpler exercise. Great choice.

Yes, agreed. You have done a great job. Once the engineering work on the website is completed. We can have some designers spice it up.

No, leave it alone. Its wonderful.

*Puts on economist hat*

I think we have experienced a few different market regimes since XCP was listed on coinmarketcap.

At first, there was a shortage of supply due to most early adopters not being aware of Poloniex. This combined with the new demand from coinmarketcap browsers led to a spike in price.

As word got out about XCP's high valuation a lot of early adopters started sending XCP to Poloniex and the price started falling again. It now trades roughly around where it was when Poloniex opened.

Where do we go from here?

If you take a look at Poloniex's central XCP address you will notice that the rate of XCP deposits has stabilized over the past couple of days:
http://blockscan.com/address.aspx?q=15vA2MJ4ESG3Rt1PVQ79D1LFMBBNtcSz1f

2/18: 9,902 XCP deposited
2/17: 9,164 XCP deposited
2/16: 28,139 XCP deposited ---> this is where the selloff occurred, due to massive influx of supply
2/15: 8,051 XCP deposited
2/14: 3,260 XCP deposited

..............................

Yeah, the interface itself (colors, borders, etc) is still in a very early stage. I've done a good amount, but my design/color skills are limited (I don't really consider myself a web dev). This will be a good start, and hopefully some talented web devs can jump on and pitch in.

The main goal is to to make it very, very simple to use. You can literally get started with the wallet and be running in 5 to 10 seconds. Past that, you just need to know about the general concepts (assets, buying and selling on a market, etc).

That looking really good. I like this colors, its looking even better than blockchain web wallet. Great work.

Edit. Maybe little more dark XCP color background so its not too near white. Or maybe very tin black round lines to all white letters.  But not sure maybe my screen only make it difficult read.

XCP looks too techy. Please add some cool factor

Initial set of Counterwallet screenshots are here: https://forums.counterparty.co/index.php/topic,79.msg685.html#msg685

I also provide more info on features and release timeline. Wallet questions in that thread are preferred.

*Puts on economist hat*

I think we have experienced a few different market regimes since XCP was listed on coinmarketcap.

At first, there was a shortage of supply due to most early adopters not being aware of Poloniex. This combined with the new demand from coinmarketcap browsers led to a spike in price.

As word got out about XCP's high valuation a lot of early adopters started sending XCP to Poloniex and the price started falling again. It now trades roughly around where it was when Poloniex opened.

Where do we go from here?

If you take a look at Poloniex's central XCP address you will notice that the rate of XCP deposits has stabilized over the past couple of days:
http://blockscan.com/address.aspx?q=15vA2MJ4ESG3Rt1PVQ79D1LFMBBNtcSz1f

2/18: 9,902 XCP deposited
2/17: 9,164 XCP deposited
2/16: 28,139 XCP deposited ---> this is where the selloff occurred, due to massive influx of supply
2/15: 8,051 XCP deposited
2/14: 3,260 XCP deposited

So now we know how much XCP supply is coming onto the market per day. We also know what the demand is: the total XCP volume traded over the past 24 hours. Currently that number is 14,000 XCP.

So demand has to meet supply. If supply diminishes from the current rate of 10k XCP per day, price will go up. If demand increases from the current 14k XCP, price will go up. And vice versa.

I think probably the market will move up over the next month because supply is mostly fixed while demand can only increase as word spreads. Demand can also fluctuate way more than supply, which probably means XCP price will exhibit positive skew (this is a good thing for investors).

None of this is news...it applies to Bitcoin as well. I just think it's interesting to see the same principles being applied to XCP on a shorter time scale. The most important factor is demand. Let's focus on that as a community instead of worrying about who the big holders are, how much they are dumping, what the last trade was, etc.

I think I get the general idea behind counterparty and am keen to gather interest on creating a new asset to test the functionality of the assets and distribution of dividends.

I have a small mining rig that creates approx 0.008 BTC a day. The asset would give you the rights to share in the mining returns for the month of March.

The aim is to test the functionality of XCP and create a real life application.

1) Issue new asset at X price, total issue of Y shares. How is price determined, by a market or by the asset issuer?
2) Buyers purchase shares of the asset at X price, via the DEX.
3) Each day mining returns approx 0.008 btc, which will be re-distributed by XCP dividends. These are paid in XCP. Therefore I mine a coin, send to exchange and convert directly to XCP or BTC to then convert to XCP.
4) Pay XCP dividends via counterpartyd

End of March - end of test. You will have received Z amount of XCP in dividends and you have the shares of the new asset. After March the asset would be worthless. Is the asset tradeable on the DEX between issuance and end of March?
As its a test I will return the XCP at the issue price at expiry.

Should I walt until the client is available? Is what I describe possible with counterparty?
It will be interesting to see how the market reacts to demand from the requirement to purchase XCP to buy the new asset and via the dividends converted into XCP from BTC.

issuance --source=BOBS_ADDRESS --asset=BOBUSD quantity=QUANTITY= --divisible --description="For more info see: bobusd.com"

order --source=BOBS_ADDRESS --give-asset=BOBUSD --give-quantity=QUANTITY --get-asset=XCP --get-quantity=QUANTITY*.202 --expiration=EXPIRATION

order --source=BOBS_ADDRESS --asset=BTCMINER --quantity=QUANTITY --divisible --description="Read more here: btcminer.com"

dividend --source=BOBS_ADDRESS --quantity-per-share=QUANTITY_PER_SHARE --asset=BTCMINER

Hi Led_lcd,
That sounds like a good idea. However, I cannot read the remember the protocol rules very well. Can the asset issuer issue more coins after the initial issuance. If that is the case there might be some risk.

End of March - end of test. You will have received Z amount of XCP in dividends and you have the shares of the new asset. After March the asset would be worthless. Is the asset tradeable on the DEX between issuance and end of March?
As its a test I will return the XCP at the issue price at expiry.

Should I walt until the client is available? Is what I describe possible with counterparty?
It will be interesting to see how the market reacts to demand from the requirement to purchase XCP to buy the new asset and via the dividends converted into XCP from BTC.