I am not a technical guy, but I know this project has a potential bump to bitcoin protocol application. We are happy to see that there are more and more bitcoin protocol application startups. Never think Bitcoin is just a kind of crypto-currency, bitcoin is more than a crypto-currency. Lots of application could be coming out above the protocol. I would like to list the potential project here:
MSC - Mastercoin, application on top of bitcoin protocol
Coloredcoins, application on top of bitcoin protocol
BTS - Bitshares, new application
NXT - Nextcoin, new application totally different than bitcoin
XCP - Counterparty, application on top of bitcoin protocol
eMu - eMunie, new application totally different than bitcoin
eTher - ethereum, application on top of bitcoin protocol
Zerocoin, new application totally different than bitcoin
If you know more, add to this thread: https://bitcointalk.org/index.php?topic=428785.new#new
Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 596. (Read 1276933 times)
January 23, 2014, 10:02:50 AM
January 23, 2014, 09:33:27 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!
The market is 1XCP=0.00083BTC now, what if 1XCP=0.01BTC in the future? Is it worth?
The project will never fail, trust the team and all the participants.
You created a new account here just to create these posts? I myself is a XCP investor, but I don't think this kind of words is helpful to this project. When you introduce a project to a potential investor, it's essential to warn them the risks and also give them the reasonable prediction of the ROI. I will never trust a project that 'will never fail'.
Now you seems don't quite understand where the value of XCP come from, and if you really believe what you said, I suggest you to take better care of your BTC. Don't do something as silly as me did in BTC investment and lost more than half of my BTC holdings.
hardy har har maties
i be had burned me 1 btc in this scallywag project twas hard as i be missin one aye and me fingers are croookeder than some of thee biggest scammers sailing the seven seas but lest ye be thinkun to abondon ship we be headed for troublin straights soon.
me thinks some people be better at hidin thar traxx bettar den others!
January 23, 2014, 08:58:51 AM
Are people still able to run the client now? Someone has issued a buy order for a non-existent asset (asset name "CREDIT") and it's crashing my client. I've hacked out a fix, but I see at least one other person is still making orders. Does the client still run on some other OS, like Windows? I see that at least blockscan.com is stuck at the same place I was, prior to the buy order for a non-existing asset.
By the way (and if I'm understanding the problem correctly), if you created the buy order for "CREDIT" without first creating the asset, would you please cancel your order? Thanks -- It's blocking trade for the rest of us.
I assume the devs will push a hotfix soon, although it does worry me a little bit that activity on the counterpartyd repo (including the dev branch) seems to have tailed off -- and right when I was starting work on a GUI!. Hope the large influx of capital hasn't diluted their shares to the point where they're losing interest. This is a extremely promising project.
PS: All of you who are gleefully creating non-backed assets such as Dogecoin should just save yourself the time and read through the old Ripple forum threads -- it's all been done before and people will soon get bored and only people trading real, trusted assets will remain. By the way, everyone who was calling for Ripple on the Bitcoin blockchain should jump on this opportunity, because this project is all the innovative features of Ripple on the BTC blockchain, plus significant additional features, all with a fair distribution. What more could you ask for?
By the way (and if I'm understanding the problem correctly), if you created the buy order for "CREDIT" without first creating the asset, would you please cancel your order? Thanks -- It's blocking trade for the rest of us.
I assume the devs will push a hotfix soon, although it does worry me a little bit that activity on the counterpartyd repo (including the dev branch) seems to have tailed off -- and right when I was starting work on a GUI!. Hope the large influx of capital hasn't diluted their shares to the point where they're losing interest. This is a extremely promising project.
PS: All of you who are gleefully creating non-backed assets such as Dogecoin should just save yourself the time and read through the old Ripple forum threads -- it's all been done before and people will soon get bored and only people trading real, trusted assets will remain. By the way, everyone who was calling for Ripple on the Bitcoin blockchain should jump on this opportunity, because this project is all the innovative features of Ripple on the BTC blockchain, plus significant additional features, all with a fair distribution. What more could you ask for?
January 23, 2014, 06:17:18 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
How much BTC was burnt only generates the supply, and there has to be the demand in the other side to finalize the price of XCP. XCP works as a currency in its own system, the counterparty exchange. Therefore, the counterparty exchange has to attract a lot of users before XCP becomes valuable.
You can create a burn address by yourself, and burn millions of BTC to generate 1 DIAMOND, and still this DIAMOND is worthless because no one needs it.
While this common - sense approach to crypto currency is seemingly sound. There are hundreds of other coins that seem to show otherwise. Quite simply things are valued at what people think they are valued. It's quite quantum mechanical in nature. If several posts on this thread incorrectly poised the value to be 0.01 btc per xcp and the consensus grew on what was thought to be incorrect information, regardless the democratic and autonomous nature of consensus would put a speculative value on it. The lifespan or volatility of that value is obviously of high uncertainty as with any crypto currency ... The truth is.. you could throw the whole project away and just keep the coins on the bitcoin network and trade them as they were just a coin with no real use other than a bitcoin 1.0 type usage and yes the coin with hype could see high value. It's real world use while it can be super important to grow interest and long term stable value does not take away from the fact that the price is simply what one is willing to pay for such an item.
Considering there is a service to burn bitcoin for xcp and that 1 bitcoin gains a finite amount of xcp, well that's giving it a value .. If 1500 btc were spent on xcp then one would conclude a default 1500 btc market cap at least in pre launch ... In which case if I offered to give someone 2000 xcp for a bitcoin you could be almost sure that would be an acceptable trade. Considering some of the prices on completely useless coins .. it's just something to think about.
January 23, 2014, 03:58:03 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!
The market is 1XCP=0.00083BTC now, what if 1XCP=0.01BTC in the future? Is it worth?
The project will never fail, trust the team and all the participants.
You created a new account here just to create these posts? I myself is a XCP investor, but I don't think this kind of words is helpful to this project. When you introduce a project to a potential investor, it's essential to warn them the risks and also give them the reasonable prediction of the ROI. I will never trust a project that 'will never fail'.
Now you seems don't understand where the value of XCP come from, and if you really believe what you said, I suggest you to take better care of your BTC. Don't do something as silly as me did in BTC investment and lost more than half of my BTC holdings.
All the investment have risk, I would suggest people do not invest more than they can really afford to lose. For XCP, I think it is a long term investment. For short term case, XCP is not a good one. If XCP is attractive enough to let people burn/destroy 1000000 BTC or more, the situation will be different. But the bitcoin protocol is still there, the application will not vanish.
January 23, 2014, 03:53:58 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
How much BTC was burnt only generates the supply, and there has to be the demand in the other side to finalize the price of XCP. XCP works as a currency in its own system, the counterparty exchange. Therefore, the counterparty exchange has to attract a lot of users before XCP becomes valuable.
You can create a burn address by yourself, and burn millions of BTC to generate 1 DIAMOND, and still this DIAMOND is worthless because no one needs it.
I can't agree more. So let be working hard to make the project to be successful. And I believe if the original developers can't afford the further development, there will be another team to take over the project. Because this is a half-success project now, no one want to see the failure of this project. Of course all of us here will promote XCP by faucet or some other ways.
January 23, 2014, 03:51:16 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!
The market is 1XCP=0.00083BTC now, what if 1XCP=0.01BTC in the future? Is it worth?
The project will never fail, trust the team and all the participants.
You created a new account here just to create these posts? I myself is a XCP investor, but I don't think this kind of words is helpful to this project. When you introduce a project to a potential investor, it's essential to warn them the risks and also give them the reasonable prediction of the ROI. I will never trust a project that 'will never fail'.
Now you seems don't quite understand where the value of XCP come from, and if you really believe what you said, I suggest you to take better care of your BTC. Don't do something as silly as me did in BTC investment and lost more than half of my BTC holdings.
January 23, 2014, 03:48:44 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
How much BTC was burnt only generates the supply, and there has to be the demand in the other side to finalize the price of XCP. XCP works as a currency in its own system, the counterparty exchange. Therefore, the counterparty exchange has to attract a lot of users before XCP becomes valuable.
You can create a burn address by yourself, and burn millions of BTC to generate 1 DIAMOND, and still this DIAMOND is worthless because no one needs it.
I can't agree more. So let be working hard to make the project to be successful. And I believe if the original developers can't afford the further development, there will be another team to take over the project. Because this is a half-success project now, no one want to see the failure of this project. Of course all of us here will promote XCP by faucet or some other ways.
January 23, 2014, 03:44:29 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
How much BTC was burnt only generates the supply, and there has to be the demand in the other side to finalize the price of XCP. XCP works as a currency in its own system, the counterparty exchange. Therefore, the counterparty exchange has to attract a lot of users before XCP becomes valuable.
You can create a burn address by yourself, and burn millions of BTC to generate 1 DIAMOND, and still this DIAMOND is worthless because no one needs it.
January 23, 2014, 03:42:02 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!
The market is 1XCP=0.00083BTC now, what if 1XCP=0.01BTC in the future? Is it worth?
The project will never fail, trust the team and all the participants.
January 23, 2014, 03:40:08 AM
If the project failure,the value of XCP is 0. No matter how many bitcoins have been burned.
January 23, 2014, 03:37:45 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
The value of XCP is totally depended on the project and developers. Not depended on the bitcoin burn!!!
January 23, 2014, 03:33:15 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
I mean XCP is a way to increase the amount of BTC. If everybody burn their BTC to get XCP, then XCP will be another existence of BTC. BTC is "gold", XCP is the "dollar" based on it.
January 23, 2014, 03:27:54 AM
The bitcoins in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are burned forever. No any value. If these bitcoins are donated to XCP developers, they will create much value. The POB is not an absolute good way.
January 23, 2014, 03:22:28 AM
Where can I read in depth about xcp
January 23, 2014, 03:15:08 AM
Agree!!!:
More people burn now means less chance to get more than 10x return like Mastercoin in short time.
Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.
For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.
Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).
More people burn now means less chance to get more than 10x return like Mastercoin in short time.
Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.
For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.
Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).
This is not entirely true. What happens if people start destroying XCP in the future for even better opportunities? The only thing you should concern yourself with is whether or not XCP can do what you need it to do as an entrepreneur. If you actually create DACs with it so that demand rises then you don't have to worry about this problem.
All of you who are concerned about the price should be looking for ways to increase demand for XCP.
What I said above is just try to warn those who want to see 10x, 100x, or even 1000x in short term (weeks after IPO, such as in Nxt and Mastercoin cases). They may be disappointed to see the price after IPO does not increase much.
If you believe the XCP PoB concept, then invest it. If you doubt the XCP value, then keep away from it. I think XCP is based on Bitcoin, people develop XCP by real money, so XCP do have its own value. It is cheaper now, but what will you say after one year?
Monitor this address https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr forever, then you will predict the value of XCP.
If you try to vanitygen the address 1CounterpartyXXXXXXXXXXXXXXXUWLpVr by a laptop with i7 dual core/4 thread, it will take you far more than 2.6*10^21 years with a 50% opportunity to get the private key. So personally, I believe XCP is valuable just because the value of Bitcoin address 1CounterpartyXXXXXXXXXXXXXXXUWLpVr.
Meanwhile, XCP is the first PoB based application I have ever seen. If bitcoins are always in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr, XCP will always valuable.
Maybe there will be an atom computer in the future to calculate the private key, but all of us here are history at that time.
January 23, 2014, 01:29:18 AM
Agree!!!:
More people burn now means less chance to get more than 10x return like Mastercoin in short time.
Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.
For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.
Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).
More people burn now means less chance to get more than 10x return like Mastercoin in short time.
Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.
For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.
Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).
This is not entirely true. What happens if people start destroying XCP in the future for even better opportunities? The only thing you should concern yourself with is whether or not XCP can do what you need it to do as an entrepreneur. If you actually create DACs with it so that demand rises then you don't have to worry about this problem.
All of you who are concerned about the price should be looking for ways to increase demand for XCP.
What I said above is just try to warn those who want to see 10x, 100x, or even 1000x in short term (weeks after IPO, such as in Nxt and Mastercoin cases). They may be disappointed to see the price after IPO does not increase much.
January 23, 2014, 01:25:32 AM
Agree!!!:
More people burn now means less chance to get more than 10x return like Mastercoin in short time.
Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.
For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.
Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).
More people burn now means less chance to get more than 10x return like Mastercoin in short time.
Those kind of return (10x -> 1000x) requires that people highly suspect it in the beginning and then later found it real and useful. The extreme case is Nxt. Almost no one trusted it in the IPO stage (they got 21 BTC only), and then when the client came out and it worked, the price shot up because the demand suddenly increases but most chips are controlled in the hand of a few people and it's quite easy for they to hold and see the price up to the sky.
For XCP, 1) people are already quite familiar with the idea due to MSC; 2) the 'Prove by Burn' removes the trust issue; 3) the client is working and we can see the source code, so you can see that there're already 1200 BTC burnt in less than half a month. The situation, however, is almost the same after the IPO. Most of people want to buy will burn now anyway. For the demand from those new comers, the supply (from those want quick profit of 30-40%) will be enough to keep the low price.
Therefore, no reason to expect the price could rise significantly without any big news (e.g. a beautiful and user friendly client; a famous asset such as AM moves in; or a lot of bets like those in bitbet are available).
This is not entirely true. What happens if people start destroying XCP in the future for even better opportunities? The only thing you should concern yourself with is whether or not XCP can do what you need it to do as an entrepreneur. If you actually create DACs with it so that demand rises then you don't have to worry about this problem.
All of you who are concerned about the price should be looking for ways to increase demand for XCP.
January 23, 2014, 01:20:59 AM
Again, counterparty.co IS the official website (I am a Counterparty team member).
EDIT: Website has been cleaned up some. FAQs should work now.
EDIT: Website has been cleaned up some. FAQs should work now.
Just a small suggestion to put the word 'official' somewhere so it is clear to everyone.
January 23, 2014, 12:58:34 AM
Counterparty was up on Coindesk: http://www.coindesk.com/smart-property-colored-coins-mastercoin/
That's how I know the website: http://counterparty.co/
You can make your own decision.
Looks official enough for me. Doesn't appear to be a newsletter link, so I guess I have to follow this thread now for OS X announcements.
Again, counterparty.co IS the official website (I am a Counterparty team member).
Are you Bill Murray ?
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