Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 646. (Read 1276928 times)
January 05, 2014, 03:16:49 PM
Is this another error with the blockchain.info burning instructions? In step 4 it says "Under “Change Address”, you should choose the same address as your “To” address" but the pic is showing the "from" address as the change address. Just to clarify, I am referring to step 4, not step 6 as the post earlier was referring to.
January 05, 2014, 02:34:02 PM
I'm trying to decide whether to burn with blockchain.info or counterpartyd. If the former, can I export the private key into multibit to use the XCP? If the latter, can I run counterpartyd and bitcoind in a VPS?
Yes, and yes.
January 05, 2014, 02:18:39 PM
Quote
I think it's funny though that some people are complaining that the initial reward isn't enough, while others say that it's too much.
Agreed. I think this means you got it about right.
You can pretty much never fully satisfied everyone.
the Devs would have been justified taking a % of the BTC for a development fund.
But they chose not. Building them a very good reputation start.On the long term, that might be more valuable than money.
About 1 BTC = 1000XCP or 3000XCP, it doesn't change much. Even 10000XCP.
That's just a ratio.
For referential, 1000XCP is quite convenient. Precise reason already given in previous post.
when you think of later adoption of XCP, no-one can complain that early users were unfairly rewarded, if anything Devs and early adopters are under-rewarded for their contribution.
[...] that gives XCP a real shot at being the winner long-term.
[...] that gives XCP a real shot at being the winner long-term.
Let's hope history remind this
January 05, 2014, 02:13:32 PM
wizzardTim, I think it's good that everyone try to use the software.
'coz the descentralized exchange and everything is based on it.
Even sending XCP require the soft for now. (assets too)
Might see an API allowing for XCP to be traded on centralized exchange BTC-e/cryptsy one day.
It would probably help with global popularity.
Yet it's really a new approach.
'coz the descentralized exchange and everything is based on it.
Even sending XCP require the soft for now. (assets too)
Might see an API allowing for XCP to be traded on centralized exchange BTC-e/cryptsy one day.
It would probably help with global popularity.
Yet it's really a new approach.
Ok, I'm trying to use the software now! I should wait a little longer till the blockchain syncs though
January 05, 2014, 02:10:56 PM
Quote
I think it's funny though that some people are complaining that the initial reward isn't enough, while others say that it's too much.
Agreed. I think this means you got it about right.
January 05, 2014, 01:56:45 PM
Quote
You can burn with counterpartyd even if the blockchain is not up-to-date (though you have to be careful not to try to burn too much). Use the --force option (heh).
The option daemon=1 isn't important.
Using Blockchain.info for the burn means that you'll need to export the private key into Bitcoind before you can use the XCP you received.
The option daemon=1 isn't important.
Using Blockchain.info for the burn means that you'll need to export the private key into Bitcoind before you can use the XCP you received.
I'm trying to decide whether to burn with blockchain.info or counterpartyd. If the former, can I export the private key into multibit to use the XCP? If the latter, can I run counterpartyd and bitcoind in a VPS?
January 05, 2014, 01:55:02 PM
1CounterpartyXXXXXXXXXXXXXXXUWLpVr ?? OMG, I'm rich! 
This is the exact address www.bitaddress.org randomly assigned me two weeks ago! 
Not really, obv. I think it's funny though that some people are complaining that the initial reward isn't enough, while others say that it's too much.
As an idiot user, i.e. I will have to wait for simple blockchain instructions, I think it is too low, 2-3000 would have been more fair for the risk and effort involved. At the same time, the Devs would have been justified taking a % of the BTC for a development fund.
But when you think of later adoption of XCP, no-one can complain that early users were unfairly rewarded, if anything Devs and early adopters are under-rewarded for their contribution, but it's this sacrifice & POB now, combined with first mover advantage that gives XCP a real shot at being the winner long-term. Think of the MSM + $$$ in funding trying to pump some unfair/centralised issuance smart property system from JPM/GoldmanSachs vs. XCP.
XCP makes a free man's decision very clear
https://www.youtube.com/watch?v=s9pxvL6zndI
This is the exact address www.bitaddress.org randomly assigned me two weeks ago! Not really, obv. I think it's funny though that some people are complaining that the initial reward isn't enough, while others say that it's too much.
As an idiot user, i.e. I will have to wait for simple blockchain instructions, I think it is too low, 2-3000 would have been more fair for the risk and effort involved. At the same time, the Devs would have been justified taking a % of the BTC for a development fund.
But when you think of later adoption of XCP, no-one can complain that early users were unfairly rewarded, if anything Devs and early adopters are under-rewarded for their contribution, but it's this sacrifice & POB now, combined with first mover advantage that gives XCP a real shot at being the winner long-term. Think of the MSM + $$$ in funding trying to pump some unfair/centralised issuance smart property system from JPM/GoldmanSachs vs. XCP.
XCP makes a free man's decision very clear
https://www.youtube.com/watch?v=s9pxvL6zndI January 05, 2014, 01:53:22 PM
FYI, a website will be released soon. At minimum we'll have a simple way to check balances via a URL, so folks don't have to have counterpartyd installed to check the balance for a given address.
That's great Try to make something similar to http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=275000
But total number of XCP and address check is fine to begin with.
Yet, even when it will be out, I still encourage people to install the soft.
Rescan soon over on my side.
January 05, 2014, 01:48:56 PM
Code:
def create (db, source, quantity, test=False):
# Try to make sure that the burned funds won’t go to waste.
block_count = bitcoin.rpc('getblockcount', [])
if block_count < config.BURN_START:
raise exceptions.UselessError('The proof‐of‐burn period has not yet begun.')
elif block_count > config.BURN_END:
raise exceptions.UselessError('The proof‐of‐burn period has already ended.')
# Check that a maximum of 1 BTC total is burned per address.
burns = util.get_burns(db, address=source, validity='Valid')
total_burned = sum([burn['burned'] for burn in burns])
if quantity > (1 * config.UNIT - total_burned):
raise exceptions.UselessError('A maximum of 1 BTC may be burned per address.')
# Try to make sure that the burned funds won’t go to waste.
block_count = bitcoin.rpc('getblockcount', [])
if block_count < config.BURN_START:
raise exceptions.UselessError('The proof‐of‐burn period has not yet begun.')
elif block_count > config.BURN_END:
raise exceptions.UselessError('The proof‐of‐burn period has already ended.')
# Check that a maximum of 1 BTC total is burned per address.
burns = util.get_burns(db, address=source, validity='Valid')
total_burned = sum([burn['burned'] for burn in burns])
if quantity > (1 * config.UNIT - total_burned):
raise exceptions.UselessError('A maximum of 1 BTC may be burned per address.')
Correct me if I'm wrong, but your burn validity check is only going to check sends through the counterpartyd cmd line. So if someone sends 1.001 Btc out of blockchain.info it will invalidate the entire transaction, meanwhile all of the Btc will burn?
That's correct.
You can burn with counterpartyd even if the blockchain is not up-to-date (though you have to be careful not to try to burn too much). Use the --force option (heh).
[...] or Using Blockchain.info
Personally I'm not confident with these two solutions.[...] or Using Blockchain.info
Simply because there is no other way than using the soft for checking you do really have XCP.
And for this check, bitcoind must be sync/rescaned and XCPsoft installed correctly.
Sure.
January 05, 2014, 01:47:34 PM
Personally I'm not confident with these two solutions.
Simply because there is no other way than using the soft for checking you do really have XCP.
And for this check, bitcoind must be sync/rescaned and XCPsoft installed correctly.
Simply because there is no other way than using the soft for checking you do really have XCP.
And for this check, bitcoind must be sync/rescaned and XCPsoft installed correctly.
FYI, a website will be released soon. At minimum we'll have a simple way to check balances via a URL, so folks don't have to have counterpartyd installed to check the balance for a given address.
January 05, 2014, 01:41:22 PM
So if someone sends 1.001 Btc out of blockchain.info it will invalidate the entire transaction, meanwhile all of the Btc will burn?
Kind of mean, but it doesn't botter me.They can at least make the effort of reading the basic, stating 1 BTC max per address is easy to understand.
Again, we're going to put all donated funds toward bounties for the development of Counterparty.
That's awesome that you have enough money of your own.You split all the reward of your work with the community.
Congrats! An example that many should get inspired by.
You can burn with counterpartyd even if the blockchain is not up-to-date [...]. Use the --force option (heh).
[...] or Using Blockchain.info
Personally I'm not confident with these two solutions.[...] or Using Blockchain.info
Simply because there is no other way than using the soft for checking you do really have XCP.
And for this check, bitcoind must be sync/rescaned and XCPsoft installed correctly.
January 05, 2014, 01:31:55 PM
Code:
def create (db, source, quantity, test=False):
# Try to make sure that the burned funds won’t go to waste.
block_count = bitcoin.rpc('getblockcount', [])
if block_count < config.BURN_START:
raise exceptions.UselessError('The proof‐of‐burn period has not yet begun.')
elif block_count > config.BURN_END:
raise exceptions.UselessError('The proof‐of‐burn period has already ended.')
# Check that a maximum of 1 BTC total is burned per address.
burns = util.get_burns(db, address=source, validity='Valid')
total_burned = sum([burn['burned'] for burn in burns])
if quantity > (1 * config.UNIT - total_burned):
raise exceptions.UselessError('A maximum of 1 BTC may be burned per address.')
# Try to make sure that the burned funds won’t go to waste.
block_count = bitcoin.rpc('getblockcount', [])
if block_count < config.BURN_START:
raise exceptions.UselessError('The proof‐of‐burn period has not yet begun.')
elif block_count > config.BURN_END:
raise exceptions.UselessError('The proof‐of‐burn period has already ended.')
# Check that a maximum of 1 BTC total is burned per address.
burns = util.get_burns(db, address=source, validity='Valid')
total_burned = sum([burn['burned'] for burn in burns])
if quantity > (1 * config.UNIT - total_burned):
raise exceptions.UselessError('A maximum of 1 BTC may be burned per address.')
Correct me if I'm wrong, but your burn validity check is only going to check sends through the counterpartyd cmd line. So if someone sends 1.001 Btc out of blockchain.info it will invalidate the entire transaction, meanwhile all of the Btc will burn?
January 05, 2014, 01:21:21 PM
I just send you 14$ dev
To encourage your work.
Maybe not much, but still a little amount for me. 10x the first donation \o/
If 100 people do the same you're good
To encourage your work.
Maybe not much, but still a little amount for me. 10x the first donation \o/
If 100 people do the same you're good
Thank you for the donation! Again, we're going to put all donated funds toward bounties for the development of Counterparty.
due to not having space on c:> drive, I created a VM in another drive with windows7 64bit to download qt. the blockchain will be downloaded in a few hours, and after that I will try the windows installer for the counteparty.
Should i modify anything after the installer? Should I add daemon=1 or not?
I will report any error.
Also, if i won't make it, and choose the blockchain.info path, will that be a problem for the future? I mean will it be difficult to send or get XCP?
Should i modify anything after the installer? Should I add daemon=1 or not?
I will report any error.
Also, if i won't make it, and choose the blockchain.info path, will that be a problem for the future? I mean will it be difficult to send or get XCP?
You can burn with counterpartyd even if the blockchain is not up-to-date (though you have to be careful not to try to burn too much). Use the --force option (heh).
The option daemon=1 isn't important.
Using Blockchain.info for the burn means that you'll need to export the private key into Bitcoind before you can use the XCP you received.
January 05, 2014, 01:16:39 PM
Good morning everyone *laugh
That's an interesting talk.
It is true that the 33.3% bonus decreasing over a month period is not that much.
Yet with it, it is easy to have in mind that the cost is 1BTC for 1000XCP, and that there is just a small reward for earlier one.
Without being totally disproportionate.
Of course I'd like more. Like many I am also here for the money.
But I'm mitigate.
Globally, I think the dev choice are quite good.
1 month is not that long, but much enough for everyone to think about it, sync, rescan, test, invest. 'take a week for many.
Nothing is perfect in life.
Mac user have to wait for software (but aren't mac intel based now? therefore ubuntu live CD working?)
Technical-comfortable guys can understand and do the necessary more quickly.
Struggling newbie like me have a really hard time, yet should have enough time to success.
Newcomer will have the possibility of simply sending money and get their XCP without any real work.
Which might not be the fairest either. As they get the same reward +still 10~20% bonus.
Well, now it's set.
The 1 month period is fixed. 82 BTC are already burned. It can no longer change.
As does the slight bonus reward.
The 1 BTC limit per address obviously doesn't prevent the early-bitcoiner to invest 100~500 BTC at the last moment, which might be less than 10% of their wealth for a few.
Which costed some less than buying 10 BTC at today USD price.
The concept of entity is flawed.
Without central authority & ID check it is hard to reach something more "even".
Yet at the same time I'm obviously glad there is not ID check nor anything centralized other that the dev hard work.
So, perfectible. But not that bad.
One solution could be to reward the early investor or the poster who obviously spent a lot of time for testing/burning/writing.
It could be done - for example - by letting the dev creating some asset that will provide a dividend on some long term bet system.
Then up to them to distribute them in an exponential way or an arbitrary way. Trying on best-try to reward the meritorious one*.
As a secondary bonus for those who didn't wait the last week to burn, and/or to those who explicitly used counterpartyd to burn, as originally required. [knowing it's very time consuming]
(*which is an arbitrary concept..)
Other reward system could be add on top of the XCP. If some have better ideas, express yourself.
edit: could also be a very tiny fee on XCP-themselves transfert, splitted in a lottery way between the one who burned during the first 2 weeks using the software. I don't know.
PS: txindex rescan reached block 267104 \o/ 'hopefull to burn today. Just a few hour more.
That's an interesting talk.
It is true that the 33.3% bonus decreasing over a month period is not that much.
Yet with it, it is easy to have in mind that the cost is 1BTC for 1000XCP, and that there is just a small reward for earlier one.
Without being totally disproportionate.
Of course I'd like more. Like many I am also here for the money.
But I'm mitigate.
Globally, I think the dev choice are quite good.
1 month is not that long, but much enough for everyone to think about it, sync, rescan, test, invest. 'take a week for many.
Nothing is perfect in life.
Mac user have to wait for software (but aren't mac intel based now? therefore ubuntu live CD working?)
Technical-comfortable guys can understand and do the necessary more quickly.
Struggling newbie like me have a really hard time, yet should have enough time to success.
Newcomer will have the possibility of simply sending money and get their XCP without any real work.
Which might not be the fairest either. As they get the same reward +still 10~20% bonus.
Well, now it's set.
The 1 month period is fixed. 82 BTC are already burned. It can no longer change.
As does the slight bonus reward.
The 1 BTC limit per address obviously doesn't prevent the early-bitcoiner to invest 100~500 BTC at the last moment, which might be less than 10% of their wealth for a few.
Which costed some less than buying 10 BTC at today USD price.
The concept of entity is flawed.
Without central authority & ID check it is hard to reach something more "even".
Yet at the same time I'm obviously glad there is not ID check nor anything centralized other that the dev hard work.
So, perfectible. But not that bad.
One solution could be to reward the early investor or the poster who obviously spent a lot of time for testing/burning/writing.
It could be done - for example - by letting the dev creating some asset that will provide a dividend on some long term bet system.
Then up to them to distribute them in an exponential way or an arbitrary way. Trying on best-try to reward the meritorious one*.
As a secondary bonus for those who didn't wait the last week to burn, and/or to those who explicitly used counterpartyd to burn, as originally required. [knowing it's very time consuming]
(*which is an arbitrary concept..)
Other reward system could be add on top of the XCP. If some have better ideas, express yourself.
edit: could also be a very tiny fee on XCP-themselves transfert, splitted in a lottery way between the one who burned during the first 2 weeks using the software. I don't know.
PS: txindex rescan reached block 267104 \o/ 'hopefull to burn today. Just a few hour more.
+1
I'm personally not so concerned about the decay rate rate of the reward over the first month, as it's such a short duration compared to the presumable life of this project anyways.
However I do strongly support your idea of building some sort of a reward system on top of XCP to reward contributors as that would send a strong signal to the community encouraging more people contribute...this would make a big difference to the long term success of the project.
January 05, 2014, 12:46:58 PM
wizzardTim, I think it's good that everyone try to use the software.
'coz the descentralized exchange and everything is based on it.
Even sending XCP require the soft for now. (assets too)
Might see an API allowing for XCP to be traded on centralized exchange BTC-e/cryptsy one day.
It would probably help with global popularity.
Yet it's really a new approach.
'coz the descentralized exchange and everything is based on it.
Even sending XCP require the soft for now. (assets too)
Might see an API allowing for XCP to be traded on centralized exchange BTC-e/cryptsy one day.
It would probably help with global popularity.
Yet it's really a new approach.
January 05, 2014, 12:40:47 PM
due to not having space on c:> drive, I created a VM in another drive with windows7 64bit to download qt. the blockchain will be downloaded in a few hours, and after that I will try the windows installer for the counteparty.
Should i modify anything after the installer? Should I add daemon=1 or not?
I will report any error.
Also, if i won't make it, and choose the blockchain.info path, will that be a problem for the future? I mean will it be difficult to send or get XCP?
Should i modify anything after the installer? Should I add daemon=1 or not?
I will report any error.
Also, if i won't make it, and choose the blockchain.info path, will that be a problem for the future? I mean will it be difficult to send or get XCP?
January 05, 2014, 12:39:56 PM
May I ask how you work?
doc? testing? hosting?
doc? testing? hosting?
I have been an active tester, especially in the time leading up to Counterparty's release. I also try to reach out to the community on behalf of the Counterparty team.
January 05, 2014, 12:34:28 PM
May I ask how you work?
doc? testing? hosting?
About your edit: no worries, thanks ^^
I did not give to get noticed, but to encourage their style which fits to the ideas I wish to support.
Yet it's nice to know it's appreciated.
Can you imagine a world where everyone often donate 1$ to support what they appreciate?
I'd love to see that in 10 years
doc? testing? hosting?
About your edit: no worries, thanks ^^
I did not give to get noticed, but to encourage their style which fits to the ideas I wish to support.
Yet it's nice to know it's appreciated.
Can you imagine a world where everyone often donate 1$ to support what they appreciate?
I'd love to see that in 10 years
January 05, 2014, 12:30:22 PM
Cityglut, do we have hidden devs by any chance? dark core member?
Just curious.
I thought PhantomPhreak & xnova were the only dev, but some message lead to confusion.
Just curious.
I thought PhantomPhreak & xnova were the only dev, but some message lead to confusion.
There are no hidden devs. I work with the xnova and PhantomPhreak but am not a dev, myself.
EDIT: I know your donation was directed at the devs, but they are quite busy with the project, and I did not want you to think your donation went unnoticed, so I took the liberty of thanking you on their behalf.
January 05, 2014, 12:28:08 PM
Cityglut, do we have hidden devs by any chance? dark core member?
Just curious.
I thought PhantomPhreak & xnova were the only dev, but some message lead to confusion.
Just curious.
I thought PhantomPhreak & xnova were the only dev, but some message lead to confusion.
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