I will give this a bite.
I may also consider adding this into my list of http://www.cryptoALLIANCES.COM set of applications for smart devices.
My Decisions
- Value seems good for this coin.
- Mining makes sense.
- Clarity from the marketing msg.
- Instant Likes from the community.
- Time to get involved.
Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 642. (Read 1276796 times)
January 06, 2014, 01:24:13 AM
January 06, 2014, 01:16:57 AM
Yeaaaaaaaaaah \o/
My first XCP.
Not two yet :p
jimhsu, actually -reindex does a rescan, it doesn't download everything again.
But it still take ~12h.
A: I spent like 24~36h to sync my btcdb (luckily a big part was already sync)
B: then add txindex=1, wait 12h
C: and another 4~8h for xcpdb to sync
+ learning = very time consuming
My first XCP.
Not two yet :p
jimhsu, actually -reindex does a rescan, it doesn't download everything again.
But it still take ~12h.
A: I spent like 24~36h to sync my btcdb (luckily a big part was already sync)
B: then add txindex=1, wait 12h
C: and another 4~8h for xcpdb to sync
+ learning = very time consuming
January 06, 2014, 01:13:03 AM
Don't forget the txindex=1 in your bitcoin.conf
(need bitcoind -reindex)
(need bitcoind -reindex)
Thanks, doing that (hence why
January 06, 2014, 01:04:51 AM
Don't forget the txindex=1 in your bitcoin.conf
(need bitcoind -reindex)
(need bitcoind -reindex)
January 06, 2014, 01:00:18 AM
Isn't it 
January 06, 2014, 12:59:13 AM
wild stuff ...
January 06, 2014, 12:41:25 AM
ok maybe i am missing something here but how do we know that someone does not have the privkey for this address?
https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr
https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr
I'm not sure you can tell 100% unless we keep checking this address to check it doesn't get spent in the future.
Since the address has obvious made up values, the magnitude of difficulty to brute force (or generate) the private key should be in the same order of magnitude of difficulty as brute forcing receive wallet address which we publicly display.
edit: added "(or generate)"
January 06, 2014, 12:37:12 AM
ok maybe i am missing something here but how do we know that someone does not have the privkey for this address?
https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr
Also, why not just use an address that goes to the Red Cross or Shawns Outpost or whatever random charity. Since you are just using this as way to limit coin generation why not at least have the BTC go toward something that benefits people, planet, something.
I know it is too late for that obviously.
https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr
Also, why not just use an address that goes to the Red Cross or Shawns Outpost or whatever random charity. Since you are just using this as way to limit coin generation why not at least have the BTC go toward something that benefits people, planet, something.
I know it is too late for that obviously.
Counterparty aims at maximizing trustlessness, i.e. not sending Bitcoins to any address for which someone has the prviate key; even though you have suggested donating to good causes, Bitcoins could only be sent to their addresses at the expense of trustlessness and decentralization.
EDIT: Regarding the unspendability of the Bitcoins in at CounterpartyXXXXXXXXXXXXXXXUWLpVr please see this post: https://bitcointalksearch.org/topic/m.4317890
January 06, 2014, 12:28:52 AM
ok maybe i am missing something here but how do we know that someone does not have the privkey for this address?
https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr
Also, why not just use an address that goes to the Red Cross or Shawns Outpost or whatever random charity. Since you are just using this as way to limit coin generation why not at least have the BTC go toward something that benefits people, planet, something.
I know it is too late for that obviously.
https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr
Also, why not just use an address that goes to the Red Cross or Shawns Outpost or whatever random charity. Since you are just using this as way to limit coin generation why not at least have the BTC go toward something that benefits people, planet, something.
I know it is too late for that obviously.
January 06, 2014, 12:20:26 AM
How many XCP will exist? how are they mined/released after the first month?
Number of XCP that will exists depends on the number of BTC burned for XCP during the burned period.
No additional XCP will be "mined" after the burn-in period. The maximum circulation of XCP after the burn in period = number of XCP created during the burn-in period
Cheers
January 06, 2014, 12:00:32 AM
How many XCP will exist? how are they mined/released after the first month?
January 05, 2014, 09:54:31 PM
How will money be made here? Ok we get XCP and after a month all XCP is distributed. Then let us say that XCP makes it to an exchange such as Cryptsy. The question is, why would anyone then buy XCP? This in turn leads to no buyers, and people who burned BTC will have no choice but to sell lower at a loss or hold for long periods of time.
BTC prices are also increasing, someone who burned their BTC a couple of days ago at $750 got 1490-1500 XCP and now people who are burning BTC at $900 are getting 1450 XCP. Wouldn't we all make money if we just buy and hold BTC?
BTC prices are also increasing, someone who burned their BTC a couple of days ago at $750 got 1490-1500 XCP and now people who are burning BTC at $900 are getting 1450 XCP. Wouldn't we all make money if we just buy and hold BTC?
You could have make the same argument about pretty much any other coin. This is why investing in XCP is speculative by nature. The hope is that people see value in the community and technology we're trying to develop here, which is rapidly progressing.
January 05, 2014, 09:53:09 PM
Finally proof of burn \o/
Finally? This ground has been covered before.
But to my knowleadge XCP is the very first one to actually use it. Do you know any other?
It's even a slight variation that I call insta-POB.
Better trustlessness of insta-POB compare to basic POB in fact.
(as with 2nd you have to trust the dev to manually split his premined coin according to burnproof)
why would anyone buy XCP?
Up to your guess.My guess is that 1st working descentralized exchange BTC/XCP/Assets will be successful.
Add dividend, contract and other obscure thing, 'interesting.
+ quality community
January 05, 2014, 09:42:22 PM
God, why I have this message :
C:\counterparty_build\counterpartyd.conf :
C:\Program Files (x86)\bitcoin\bitcoin.conf :
Code:
Traceback (most recent call last):
File "C:\counterpartyd_build\dist\counterpartyd\counterpartyd.py", line 413, i
n
util.bitcoind_check(db)
File "C:\counterpartyd_build\dist\counterpartyd\lib\util.py", line 19, in bitc
oind_check
block_count = bitcoin.rpc('getblockcount', [])
File "C:\counterpartyd_build\dist\counterpartyd\lib\bitcoin.py", line 51, in r
pc
raise exceptions.BitcoindRPCError('Cannot communicate with Bitcoind. (counte
rpartyd is set to run on {}, is Bitcoind?)'.format(network))
lib.exceptions.BitcoindRPCError: Cannot communicate with Bitcoind. (counterparty
d is set to run on mainnet, is Bitcoind?)
C:\counterparty_build\counterpartyd.conf :
Quote
[Default]
rpc-connect=localhost
rpc-port=8332
rpc-user=rpc
rpc-password=password
rpc-connect=localhost
rpc-port=8332
rpc-user=rpc
rpc-password=password
C:\Program Files (x86)\bitcoin\bitcoin.conf :
Quote
rpcuser=rpc
rpcpassword=password
server=1
daemon=1
txindex=1
rpcpassword=password
server=1
daemon=1
txindex=1
Your config file for counterparty needs to be in counterparty's data directory (e.g. C:\users\
That, or you can specify the --config-file switch to counterpartyd
e.g.
Code:
cd C:\counterpartyd_build
C:\Python33\python.exe run.py --config-file=C:\counterpartyd_build\counterpartyd.conf ****
January 05, 2014, 09:33:33 PM
Wrong port.
It's 8332 on both.
Cool. Thanks.It's 8332 on both.
Now I have another problem though :
Code:
C:\>C:\Python33\python.exe run.py --log-file=-
C:\Python33\python.exe: can't open file 'run.py': [Errno 2] No such file or dire
ctory
C:\>
You need to run that command from your C;\counterpartyd_build directory (or whereever run.py exists).
January 05, 2014, 09:31:49 PM
Finally proof of burn \o/
Finally? This ground has been covered before.
January 05, 2014, 09:29:55 PM
We may need to switch to destroying coins by sending them to an unspendable address.
Ugh. No. That will simply bloat one of the network's key resources for all time.
See announce/commit sacrifices and other tools.
January 05, 2014, 09:16:33 PM
Quote
order --from=mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns --get-quantity=10 --get-asset=BTC
--give-quantity=20 --give-asset=XCP --expiration=10 --fee_provided=.001
Does real BTC actually get transferred from mtQheFaSfWELRB2MyMBaiWjdDm6ux9Ezns's bitcoin wallet to my bitcoin wallet? --give-quantity=20 --give-asset=XCP --expiration=10 --fee_provided=.001
January 05, 2014, 09:09:54 PM
Why would you need an XCP fee to put data in a Bitcoin transaction?
OK, my question was not as precise as your answer.
So, a BTC fee is required?Yes.
For now I'll refer you to the documentation for the answer to that question.
That's what I've been reading, but it's late so many I missed something.
https://github.com/PhantomPhreak/counterpartyd/
Or maybe not?
... and https://github.com/PhantomPhreak/Counterparty/, and Read the Docs.
The --fee_provided=.001 or --fee_required=.001 might be in XCP.
From what I understand, they are optional.
But honestly I don't know about them.
Not digged that yet.
From what I understand, they are optional.
But honestly I don't know about them.
Not digged that yet.
Those fees are in BTC. See also ./counterpartyd.py order --help.
January 05, 2014, 09:08:09 PM
How will money be made here? Ok we get XCP and after a month all XCP is distributed. Then let us say that XCP makes it to an exchange such as Cryptsy. The question is, why would anyone then buy XCP? This in turn leads to no buyers, and people who burned BTC will have no choice but to sell lower at a loss or hold for long periods of time.
BTC prices are also increasing, someone who burned their BTC a couple of days ago at $750 got 1490-1500 XCP and now people who are burning BTC at $900 are getting 1450 XCP. Wouldn't we all make money if we just buy and hold BTC?
BTC prices are also increasing, someone who burned their BTC a couple of days ago at $750 got 1490-1500 XCP and now people who are burning BTC at $900 are getting 1450 XCP. Wouldn't we all make money if we just buy and hold BTC?
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