Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 563. (Read 1276933 times)

See http://blockscan.com/assetInfo.aspx?q=MPTSTOCK (MoneypakTrader.com)

Which is also linked to the richest single XCP account. Looks like he issued an asset MPTSTOCK and repurchased the assets with XCP making this the richest account http://blockscan.com/address.aspx?q=1FCkCQCnEtHQ3j7NqdkAnkqQUvqfti4XoA

Cheers

Yes. That's why burning close to the end of burn was a risky proposition. If your txn was confirmed after the last valid burn block, you're out of luck. :/

Thank you for posting your write up over at the forums! We're trying to jumpstart content over there so every bit is useful. We now have dedicated counterpartyd and counterpartyd-build technical support threads, and order book thread, and more. While we still want to (and need to) remain very visible to the bitcointalk community, the hope is that these forums steadily become the place for counterparty discussions.

With that being said, for anyone who hasn't, check out https://forums.counterparty.co and sign up.

It seems that 12gcRUPqEqQkdCzjKBPTqfirZ4b7L2GKM1 sent 1 BTC at block 283811, but not recognized as the valid burn, so got 0 XCP as a return, which means this guy lost his BTC?

http://blockscan.com/address.aspx?q=12gcRUPqEqQkdCzjKBPTqfirZ4b7L2GKM1

https://blockchain.info/address/12gcRUPqEqQkdCzjKBPTqfirZ4b7L2GKM1

What is MPSTOCK? Why is it so expensive? 2000 XCP/MPSTOCK!!!

http://blockscan.com/order.aspx?q=2866

LOL @ the person selling WEED on the decentralized exchange


http://blockscan.com/order.aspx

You guys are amazing. I am going to have to update my valuation model if this keeps up

James

James, this is exactly the problem that several of us have been working on over the past few months.  Stay tuned for further updates on this channel!  =)

I have a question about Dividends. It relates to my previous question. Again it seems that trust in the issuer plays a giant role here. If we cannot completely trust the issuer, the value of the asset needs to be discounted.

Is there a way to create trustless assets? There seems to be a way to put BTC into escrow and I assume the same for XCP. I might have missed this, but is there a way to designate an Asset as being backed by assets in escrow? That way, the purchaser of an asset would have the option of always just redeeming it for the amount in escrow. For things like pooled BTC (XCP) funds, it can be 100% backed by escrow and there would be no risk of default or funny business.

If there was a way to put other cryptos in escrow, then a crypto fund could be setup, closed ended for sure, maybe even open ended and it could be composed of a variety of altcoins and BTC providing a diversified portfolio to reduce risk in this volatile market.

Further risk could be removed (or income produced) by buying put options or selling call options. I am envisioning professionally managed crypto portfolio that doesn't require trust!

Any chance of this anytime soon? Anytime at all?

James

I have a question about Broadcast. From reading the spec, it seems like there is a strong element of trust needed for a broadcast feed. Certainly if major bets are being made, any funny business in the feed would be something that needs to be prevented. However, I could see no such mechanism.

Is there a way to get trustless feeds for very standard things, eg. data from BTC blockchain, orderbooks from specific exchanges, etc.?

I am envisioning a whole set of data feeds that are guaranteed to be reliable. If we can have that, then XCP will become a very safe place to trade crypto derivatives. Call and put options are sorely needed for some crypto business models, but the lack of liquidity in them make them very hard to get, plus currently requires trusting the option seller to be there when it comes time to exercise the option.

I think there could be a whole set of meta-commands that counterpartyd can implement based on just a large set of standard put/call options for all the assets that have realtime public datafeeds

James

My theory is that they either didn't know about it or just could not get themselves to destroy their BTC. It is quite a radical thing to do. The only way I was able to do it was to imagine all the nice XCP I was getting. If you looked at the BTC being vaporized, it might have prevented a lot of people from doing it

I have also started posting in the main NXT thread, which is very active, so it is probably a lot of the first reason

James

I just don't understand why those buyers did not burn couple days ago, and now will spend 10x to buy XCP. Nothing significant has happened. It does not make sense to me.

It will be another story if there's a very user friendly web client. Therefore, I don't expect any meaningful price until then.

My Counterparty client is working!  Hurray!

For the benefit of other XCP holders who are trying to set-up their Counterparty client, I have posted my experiences setting-up my own Counterparty client here at the new Counterparty forum:

https://forums.counterparty.co/index.php/topic,13.msg29.html#msg29

Yes exactly that. Overall marketcap is really all that matters and since there are about 5 times as many XCP as mastercoins, the math does work out.

Someone pointed out that mastercoin marketcap used to be almost double what it is now. One theory is that the drop is due to XCP! If that is the case, then it goes to reason that the fair market value for XCP is whatever the difference between mastercoin marketcap used to be and now, adjusted for overall market price changes with comparable altcoins.

Drumroll please...

Using that method of valuation gives XCP an overall valuation of about $20 million or $7.5 per XCP, which is .009 BTC.

Above numbers are very rough, just ballparking figures of ~$70 mil mastercoin marketcap down to $46 million, but the overall market is a bit lower than when we saw $70 million mastercoin marketcap.

So both methods end up at around the same price. This is why I was comfortable if the first trades happened at that price. I think there was over 5 BTC that has traded at 0.01 BTC. From here the price is up to the market, but at least there is a sane reference point.

Do not listen to anybody that says that you don't deserve to make an instant 1000% gain. The same was said about NXT. As people kept complaining, the price kept going up. The XCP devs have given us all a gift! If somebody gave you a $10 bill for every dollar bill you burned, what price should you sell the $10 bill for?

What obligation do we have to sell a $10 bill for anything less than $10?

Now if you are the sensitive type, be ready for trolls to start calling you names, but the fact is we all took a plunge into the unknown. We still don't know what will happen (well OK we actually do, but we can pretend we don't know the devs will fix all the bugs, clients will come out, Mac will be supported, etc). I estimate the available supply of XCP to be pretty low. Maybe the guy that burned 60 BTC right at the end will sell 10 BTC to recoup his capital with a little cushion, but most people have 1500 XCP or less.

It will be nice to cash out and make thousands of dollars in less than a month, but it wont be life changing.

Let's project a nice high end scenario. XCP dev team get all the required software out. Then they start adding a bunch of new features. XCP gets onto coinmarketcap top 10. Its trading on btc-e.com. It gets millions of dollars of free press from the crazy ~$2 million proof of burn. Many XCP oriented projects start and an entirely new betting ecosystem develops. The same happens with the dividend ability.

Compare that to what LTC brings to the table.

James

So when you use the console you don't need addresses? It knows the address from the private key?

You need to reindex it after updating your conf
http://counterpartyd-build.readthedocs.org/en/latest/SettingUpBitcoind.html
This will take you many hours to complete.

Someone else can confirm but I will assume so too - we are piggyback riding the blockchain so a bitcoin transaction should be created and thus miner's fee will also be required.

Have you burnt the coins using blockchain.info? Then you will need to move that address to your QT wallet, take the private key from blockchaininfo and run the console using the command importprivkey YourPrivateKey

Hehe, I'm not even an amateur designer. I was just playing around on a logo design site and thought I stumbled across something that looked interesting and others might be able to work with.

What do I like about it?

1) Incorporates the arrows others were using earlier;
2) The two intertwining arrows symbolize action: in this case an exchange between 'counterparties' to a transaction;
3) The two arrow symbol can be used on its own as a kind of circular logo symbol without use of the "counterparty" name (most crypto logos are circular without a lot of writing);
4) The two arrow symbol could be used as a "C" in the spelling of the "Counterparty" name.

Anyway, that's it for my contribution as again I am not a logo designer. If anyone wants to use the design - or aspects of it - feel free without the necessity of asking me.

Cheers

We know there is a bounty for a GUI, but does anybody know if someone is actually working on the GUI?

Don't get me wrong, I personally like the XCP project as this is one of the fairest launch and the ideals that have been communicated so far do not appear to be driven by greed but for the purpose of innovation. There also does not appear to be any kind of cooked up scheme behind the scenes to solely enrich the developers or "foundation" members.....much like , very wow!  

However, like you say it with more "publicity" everything is possible.... I was merely commenting on the technicalities

Cheers

I keep seeing people incorrectly quoting XCP @ 0.01 BTC as "half of mastercoin"
This is off by a power of 10. Mastercoin is valued @ around 0.1 BTC right now
If XCP was "half" mastercoin it would be about 0.05 BTC per XCP, or about
5 times what some are saying it is right now.