Unsure it's 100% success (counterpartyd is here for that),
but burning 'same address x+y≦1BTC = no problem.
but burning 'same address x+y≦1BTC = no problem.
Just to verify, miners fees (0.0002) are not counted towards 1 BTC limit, right?
Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 628. (Read 1276928 times)
January 12, 2014, 10:51:02 AM
Just to verify, miners fees (0.0002) are not counted towards 1 BTC limit, right?
January 12, 2014, 10:37:34 AM
Using bitcoin-qt, i made 2 burns from the same address. One of 0.01BTC and one of 0.99BTC. Is there an issue with that? The blockchain showed correctly the sum of the xcp.
Using bitcoind-qt?Unsure it's 100% success (counterpartyd is here for that),
but burning 'same address x+y≦1BTC = no problem.
January 12, 2014, 10:20:02 AM
Finally, please test with small amount in another wallet first.
Key point above. If testing from the same newly created wallet after sending 1 btc, the change address would be different already
Cheers
Using bitcoin-qt, i made 2 burns from the same address. One of 0.01BTC and one of 0.99BTC. Is there an issue with that? The blockchain showed correctly the sum of the xcp.
January 12, 2014, 10:11:33 AM
nothing to do here,
but if someone has some solid doc about how pure PoS is secure for double-spending, I'm very interested to read it.
Code = bonus.
PS: nothing prevent XCP burning in a year to transfert wealth to an alternative secure system if better than Bitcoin is out.
but if someone has some solid doc about how pure PoS is secure for double-spending, I'm very interested to read it.
Code = bonus.
PS: nothing prevent XCP burning in a year to transfert wealth to an alternative secure system if better than Bitcoin is out.
January 12, 2014, 10:04:04 AM
if I understood correctly the Proof-of-Burn (POB) concept
is sending BTC to a unspendable address which NOone owns
the private keys to??
XCP will likely be extremely rare..
XCP could potentially be valued at 0.11 BTC or alot more
Is it possible 10 XCP may be worth 1.1 BTC
I could be wrong normally & usually i am.
is sending BTC to a unspendable address which NOone owns
the private keys to??
XCP will likely be extremely rare..
XCP could potentially be valued at 0.11 BTC or alot more
Is it possible 10 XCP may be worth 1.1 BTC
I could be wrong normally & usually i am.
Pumping already starts?
Let's wait for crowd-funding to over first, before opening up expectations.Speaking of, anyone can make a brief comparison between XCP and NXT? I already was asked by several fellow bitcoiners if this a clone of NXT? (Note that no one compared it to MSC, which might either a good or a bad sign).
The benefit to have its own blockchain is the low level protocol can be designed from the scratch to make all high-level protocols easier to be implemented and parsing more efficient. On the other hand, the benefit of basing on bitcoin blockchain is there's already secure hashing rate and a lot of users are already using bitcoin. Moreover, implementation is easier since there's no need to worry about all those mining things.
BTW, one large advantage of Nxt is it's transparent forging (mining). According to what the dev said, it can help to make 51% attack almost impossible. I'm sure everyone agree that 51% attack is almost the pain of bitcoin and all its copycats.
January 12, 2014, 09:35:33 AM
if I understood correctly the Proof-of-Burn (POB) concept
is sending BTC to a unspendable address which NOone owns
the private keys to??
XCP will likely be extremely rare..
XCP could potentially be valued at 0.11 BTC or alot more
Is it possible 10 XCP may be worth 1.1 BTC
I could be wrong normally & usually i am.
is sending BTC to a unspendable address which NOone owns
the private keys to??
XCP will likely be extremely rare..
XCP could potentially be valued at 0.11 BTC or alot more
Is it possible 10 XCP may be worth 1.1 BTC
I could be wrong normally & usually i am.
Pumping already starts?
Let's wait for crowd-funding to over first, before opening up expectations.Speaking of, anyone can make a brief comparison between XCP and NXT? I already was asked by several fellow bitcoiners if this a clone of NXT? (Note that no one compared it to MSC, which might either a good or a bad sign).
January 12, 2014, 09:09:25 AM
if I understood correctly the Proof-of-Burn (POB) concept
is sending BTC to a unspendable address which NOone owns
the private keys to??
XCP will likely be extremely rare..
XCP could potentially be valued at 0.11 BTC or alot more
Is it possible 10 XCP may be worth 1.1 BTC
I could be wrong normally & usually i am.
is sending BTC to a unspendable address which NOone owns
the private keys to??
XCP will likely be extremely rare..
XCP could potentially be valued at 0.11 BTC or alot more
Is it possible 10 XCP may be worth 1.1 BTC
I could be wrong normally & usually i am.
January 12, 2014, 08:16:27 AM
Finally, please test with small amount in another wallet first.
Key point above. If testing from the same newly created wallet after sending 1 btc, the change address would be different already
Cheers
Edit: Ok, test transaction of 0.1 worked well. Can I reuse this source address for another 0.9, or I need create a new one?
Thanks!
January 12, 2014, 07:47:21 AM
How many XCP can i get if i burn 0.0001BTC 
?
?0.1+ XCP
Not including the mandatory transaction fee
January 12, 2014, 07:46:15 AM
Finally, please test with small amount in another wallet first.
Key point above. If testing from the same newly created wallet after sending 1 btc, the change address would be different already
Cheers
January 12, 2014, 07:42:00 AM
How many XCP can i get if i burn 0.0001BTC ?
? January 12, 2014, 07:26:31 AM
Be careful in three things if you want to burn with other clients.
Can you please confirm if the following instructions link with blockchain wallet is good to go?
http://counterpartyd-build.readthedocs.org/en/latest/HowToBurn.html#blockchain-info-my-wallet
January 12, 2014, 06:50:29 AM
Burning bitcoins seems like such a stupid counterintuitive idea. I like it!
If you were to burn coins from an armory wallet, would there be any problems different from burning from a blockchain.info wallet as described in the instructions?
Be careful in three things if you want to burn with other clients.If you were to burn coins from an armory wallet, would there be any problems different from burning from a blockchain.info wallet as described in the instructions?
1) Ensure your wallet has only one address (not even hidden ones). It's better to be a newly created wallet without sending out bitcoin before (so there's no hidden change addresses).
2) Ensure the balance in the wallet is exactly the amount to burn (<= 1 BTC) + 0.0001 (miner's fee), so there's no change. Otherwise, the change address may be randomly positioned in some clients.
3) If you are not using bitcoin-qt, ensure you can export the private key of this address and later it can be imported into bitcoind, cause you cannot use normal BTC client to do any transaction other than burning later. You have to import the private key of this address to bitcoind later.
Finally, please test with small amount in another wallet first.
Thank you very much!
January 12, 2014, 06:31:57 AM
Be careful in three things if you want to burn with other clients.
Can you please confirm if the following instructions link with blockchain wallet is good to go?
http://counterpartyd-build.readthedocs.org/en/latest/HowToBurn.html#blockchain-info-my-wallet
January 12, 2014, 06:22:30 AM
Burning bitcoins seems like such a stupid counterintuitive idea. I like it!
If you were to burn coins from an armory wallet, would there be any problems different from burning from a blockchain.info wallet as described in the instructions?
Be careful in three things if you want to burn with other clients.If you were to burn coins from an armory wallet, would there be any problems different from burning from a blockchain.info wallet as described in the instructions?
1) Ensure your wallet has only one address (not even hidden ones). It's better to be a newly created wallet without sending out bitcoin before (so there's no hidden change addresses).
2) Ensure the balance in the wallet is exactly the amount to burn (<= 1 BTC) + 0.0001 (miner's fee), so there's no change. Otherwise, the change address may be randomly positioned in some clients.
3) If you are not using bitcoin-qt, ensure you can export the private key of this address and later it can be imported into bitcoind, cause you cannot use normal BTC client to do any transaction other than burning later. You have to import the private key of this address to bitcoind later.
Finally, please test with small amount in another wallet first.
January 12, 2014, 06:08:56 AM
Burning bitcoins seems like such a stupid counterintuitive idea. I like it!
If you were to burn coins from an armory wallet, would there be any problems different from burning from a blockchain.info wallet as described in the instructions?
If you were to burn coins from an armory wallet, would there be any problems different from burning from a blockchain.info wallet as described in the instructions?
January 12, 2014, 04:19:46 AM
You may follow this steps using blockchain wallet. It's the easiest way for non tech guy and worked out well for me.
I copy and paste this instruction from http://counterpartyd-build.readthedocs.org/en/latest/HowToBurn.html#blockchain-info-my-wallet
I copy and paste this instruction from http://counterpartyd-build.readthedocs.org/en/latest/HowToBurn.html#blockchain-info-my-wallet
Can the devs confirm this a safe approach? I recall they warned against using web-wallets.
January 12, 2014, 03:39:58 AM
Hi all,
can someone please post a link or explain what sould I do in order to get 1 btc worth of xcp?
Thank you.
can someone please post a link or explain what sould I do in order to get 1 btc worth of xcp?
Thank you.
January 12, 2014, 03:23:05 AM
We do not really think that BTC can be burned. The best application is to develop more based on bitcoin protocol, because bitcoins network is strong and secure now. https://bitcointalksearch.org/topic/m.4448964
January 12, 2014, 03:04:28 AM
Bitcoins in POB are destroyed forever?
Yes in this case.. Unless you somehow managed to get hold of the exodus address which is very unlikely
Cheers
2^160 is larger than the number of atoms of all the found planets in our universe.
In case you were thinking of using vanitygen:
Quote
Difficulty: 22199299170684466653133678645756 [227.01 Kkey/s][total 492032][Prob 0.0%][50% in 2.149399e+18y]
Get cracking already. The heat death of the universe awaits.
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