Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 649. (Read 1277023 times)

Yup relax wizkid057.
It doesn't harm Bitcoin.
It's exactly the same as holding your coin forever, or losing your privkey.
If you see it for it's deflationary effect, it's actually a tiny up in the value of all the other BTC.
I see it as a good thing. Or neutral at worst.

Concerning the "unprunable data", I admit I do not understand this term.
What I understand is that it will last 1 month maximum.
And because the transaction are like dust (<1kB), we pay 10x the usual fee.

I absolutely refuse that my burning become a gift to the miner.
It's not their business, this money doesn't belong to them.
The value of the coin I burn is still mine. It's only abstractly transferred.

Beside, I - personally - do not want to depend on Eligius pool.
With bitcoind v0.9, OP_RETURN will be implemented, and so it's pretty much guarantee that at least many miner and a few pool will proceed these transactions.
That's my understanding at least. I do hope I'm correct about this...
Anyway we will pay the standard fee for any XCP or asset transaction.
(maybe 10x the strandard one... but I hope it's only for the burning)

This!

I do hope it will be possible one day

What would be awesome is to find an alternative solution to protect double spending.
Which would no longer require mining in the forms we know it today.
So we could have encrypted transaction (++anonymity).
And the possibility of descentralized exchange between all shacoin, scryptcoin, layer-protocol-assets.
No idea if that is technically possible.
But it would be a revolution in itself.

No, actually, my response was limited to talking about Peercoin implementing counterparty on its blockchain.

What you mentioned is not possible today, however, there are several parties (including Counterparty) discussing the feasibility of it.

Mastercoin will eventually support OP_RETURN as "Class C" transactions, but currently, AFAIK, there is no support for this.

I appreciate your offer, but it's a very important feature of this protocol that it involves trusting no one at all. Is it provable beyond all doubt that you would have no control whatsoever over where the fees would go?

I agree that it's bad for bitcoin, but the size of the problem is proportional to the amount of data that can't be pruned. The harm done to the blockchain, in this case, is not much worse than that caused by someone losing the only copy of a private key to a heavily used personal address. And the benefits that this protocol brings to Bitcoin must also be taken into account.

link doesn't seem to be working (the download link)( https://raw.github.com/xnova/counterpartyd_binaries/counterpartyd-v1-amd64_install.exe )


*EDIT* Now working installing now!

So, are you saying that, in the future, Counterparty could possibly link directly into different block chains enabling atomic trade of currencies from both chains, nearly natively?

For example, I could have a PC with bitcoind and ppcoind fire up and counterparty running and I can sell BTC for PPC and actually see PPC appear in my peercoin wallet and BTC disappear from my bitcoin wallet, natively?

If so, then this is amazing stuff!

P.S. Does Mastercoin support this?  Does Mastercoin use OP_RETURN?

A BETA installer is also released for 64-bit Windows. Please see http://counterpartyd-build.readthedocs.org/en/latest/UsingTheInstaller.html for more information. Bug reports welcome!

Any unspendable output is bad for Bitcoin. They all add up.  Just because in your opinion it is "not a lot of unprunable data" doesn't make it any less harmful.

Since as the Eligius pool op I definitely don't care to utilize or abuse your service, I'd much rather work out a situation where the "burns" go to the pool fees.  Eligius automatically distributes fees to its miners, so, no way I could abuse this anyway, provided you only used Eligius.

-wk

Added instructions on how to burn (using either counterpartyd, or blockchain.info):  http://counterpartyd-build.readthedocs.org/en/latest/HowToBurn.html

Please remember, when burning with a non counterpartyd method, you are doing so at your own risk. Please try with small transactions, before moving to larger ones.

How? We wanted to burn to miners' fees, but that's not secure.

Only the burns, which will be created for only one month, create unspendable txouts; none of the other message types (by design!). That's not a lot of transactions, and not a lot of unprunable data.

Destroying Bitcoins by using outputs that are not provably prunable harms Bitcoin by bloating the transaction index.

You people are absolutely crazy for destroying bitcoins in this fashion.

Please modify your protocol to not harm Bitcoin and I will happily mine your txns with Eligius.

-wk

Thanks, that's solved my problem.


Now I have an another problem. I don't understand how to modify the counterperty .conf file. What should I do to do that?

You actually can, with the --force flag.

I just added a new command wallet, which will list all of the addresses in your wallet that have a non-zero balance in BTC or any Counterparty asset, along with those values.

I see you are trying to run it like:


If you installed with the counterpartyd_build system, then you have to run it like the build system docs say:


or, for no logging to screen (log to log file instead):


Reason for this, is that run.py runs counterpartyd in a dedicated Python virtualenv, which has all the python libraries at versions that are tested with counterpartyd.

You need to install Git for Windows. See the third bullet point in the Windows install instructions.

Right. If I could generate the private key for that obviously hand-picked address, then I could generate the private key for any address, and spend anyone else's coins.

And yes, panonym, there's a checksum.

LeoC, I have no clue about windows.
But on ubuntu I got a similar no prettytable by trying to run counterpartyd_build/dist/counterpartyd/counterpartyd.py ('was wondering if counterpartyd in terminal runned that or something else).
The command counterpartyd in fact run counterpartyd_build/run.py

Hope it can somehow help.
Starting from a fresh ubuntu 13.10 was a very good idea.
I got only trouble with my old 12.04 LTS.
Counterpartyd install was very smooth.
tuto http://counterpartyd-build.readthedocs.org/en/latest/BuildingFromSource.html

Assuming windows

Right click computer -> properties -> advanced system settings -> environmental variables -> highlight path and click edit

Add this to the end of whatever is in variable value         ;C:\Program Files (x86)\Git\cmd




Now, could someone please help me with my issue? I can't get counterpartyd to work

http://pastebin.com/ZzAJbrSW

Hi, I try to install counterpatyd following the step there : http://counterpartyd-build.readthedocs.org/en/latest/BuildingFromSource.html

But I am stuck at :

When I write :
I have the message : 'git' is not recognized as an internal or external command, an executable program or a command file.


What I am doing wrong?

No proof per se.
I just wonder why it finish by UWLpVr.
Like, why not X until the end? 1CounterpartyXXXXXXXXXXXXXXXXXXXXX
Maybe it's necessary to be seen as a valid address, a kind of checksum?
Anyway, if they succeed to use 1CounterpartyXXXXXXXXXXXXXXX as the "beginning" of a key with vanitygen, we're all screw.
It mean Bitcoin itself is not secure anymore.
It's pretty much the same as entering a public key and get it's privkey.

Looks good enough to me to think privkey for such address cannot be found.