[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 656.

cityglut

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Quote from: Wekkel on January 03, 2014, 04:08:51 PM

I must be too far away from serious dev talk, but could someone explain all this in lay man's terms?

Counterparty transactions are made on the Bitcoin blockchain. Right now, all you can do with Bitcoins is send them from one address to another, and so Counterparty adds increased functonality to Bitcoin. Specifically, the Counterparty protocol provides a distributed exchange and, by running counterpartyd, users can 1) broadcast information, 2) make bets on broadcasts 3) create assets and 4) send assets to other addresses.

Counterparty uses proof-of-burn to initialize balances: by sending BTC to an unspendable address, users earn XCP. The burn period is roughly a month, and there is an early entrance reward, which starts at 50% and decreases linearly over the month.

If you have any other questions, please feel free to ask, and also check out the reference implementation and the protocol specification.

LeoC

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Followed all the instructions but am getting an error when I run setup.py for the first time.

line 956, in install_wheel
'PIP_NO_INDEX': '1'
File "c:\python33\lib\site-packages\virtualenv-1.11-py3.3.egg\virtualenv.py",
line 898, in call_subprocess
% (cmd_desc, proc.returncode))
OSError: Command c:\counterpartyd_build\env\Scripts\python.exe -c "import sys, p
ip; pip...ll\"] + sys.argv[1:])" setuptools pip failed with error code 1
2014-01-03 16:35:35,134|ERROR: Command failed: 'c:\python33\Scripts\virtualenv.e
xe --system-site-packages c:\counterpartyd_build\env'

becherovka

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Quote from: LeoC on January 03, 2014, 06:36:57 PM

So I need to own BTC to start burning?
This is highly confusing to me.
Is there a potential to make money here, or will the XCP forever mirror BTC prices?
Seems more like high risk low reward to me.

Yes LeoC, you need BTC to start burning.
Yes, there is lots of opportunity to make money here, but it's very early so you are ahead of most cyrpto-traders.
No, XCP doesn't mirror BTC prices. It's a new protocol.
Read up on Counterparty here: https://github.com/PhantomPhreak/Counterparty/blob/master/README.md

cityglut

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Quote from: klee on January 03, 2014, 05:55:19 PM

@Developers - Can I send BTC to you and burn them for me?
I want to get in ASAP and it is a bit unfair for me as a mac user - I trust that when you will have a working client you will send the XCP back to me!

klee, I PMed you.

panonym

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Up to your thoughts.
Yes you need BTC to start with.

This project is more advance that your common spamnewcoin.
(There is even a cheap industry now... http://coingen.bluematt.me 'hopeless)

Spending time doing research, 'making effort to comprehend and improve your skills:
That's all part of it.

LeoC

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So I need to own BTC to start burning?
This is highly confusing to me.
Is there a potential to make money here, or will the XCP forever mirror BTC prices?
Seems more like high risk low reward to me.

panonym

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Quote from: LeoC on January 03, 2014, 06:25:21 PM

What are the hardware requirements to start burning, would I need an ASIC?

Burning need no specific hardware.
Burning has nothing to do with mining.
Burning is sending coin to an unvalid address, or to an address where it's obvious vanitygen couldn't have succeed to create it (pubkey where nobody own the privkey).

But to obtain XRP, sending BTC somewhere is not sufficent.
Read all the post again, and the doc links.
You have to use counterpartyd to get XCP in exchange of your burning.

LeoC

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What are the hardware requirements to start burning, would I need an ASIC?

klee

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@Developers - Can I send BTC to you and burn them for me?
I want to get in ASAP and it is a bit unfair for me as a mac user - I trust that when you will have a working client you will send the XCP back to me!

PhantomPhreak

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Counterparty Chief Scientist and Co-Founder

Quote from: panonym on January 03, 2014, 05:32:21 PM

Quote from: PhantomPhreak on January 03, 2014, 05:05:57 PM

The fee is the usual BTC fee for a transaction of that size (very small).

So I must have some BTC linked to my key?!
What happen if I try to send XCP from an address which contain 0 bitcoin?
Does the transaction never confirm?
Anyway to cancel it in this case? (That is a major problem with all crypto, to me.)

Yes, you must have some BTC associated with an address from which you would like to send XCP, for example. If you don't have any and you try anyway, counterpartyd will fail gracefully.

Quote from: panonym on January 03, 2014, 05:32:21 PM

Quote from: PhantomPhreak on January 03, 2014, 05:05:57 PM

Use ./counterpartyd.py asset XCP to see how many XCP have been burned in all.

I will have to test. The .py is mandatory? not asset command in the main counterpartyd?

The .py is only mandatory if it doesn't work without it Wink

. I forgot that the build scripts remove that suffix from the command's name. So it should just be counterpartyd asset XCP for you.

panonym

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Quote from: PhantomPhreak on January 03, 2014, 05:19:14 PM

Update: The latest version of counterparty allows one also to cancel open orders and bets.

Awesome! That was needed.

Quote from: PhantomPhreak on January 03, 2014, 05:05:57 PM

The fee is the usual BTC fee for a transaction of that size (very small).

So I must have some BTC linked to my key?!
What happen if I try to send XCP from an address which contain 0 bitcoin?
Does the transaction never confirm?
Anyway to cancel it in this case? (That is a major problem with all crypto, to me.)

Quote from: PhantomPhreak on January 03, 2014, 05:05:57 PM

Use ./counterpartyd.py asset XCP to see how many XCP have been burned in all.

I will have to test. The .py is mandatory? not asset command in the main counterpartyd?

Very good job at answering question.
I'm impressed.
Hopefully in 12~24h my bitcoind will be sync and I will be able to start testing.

PhantomPhreak

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Counterparty Chief Scientist and Co-Founder

Update: The latest version of counterparty allows one also to cancel open orders and bets.

PhantomPhreak

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Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: reader31 on January 03, 2014, 04:51:22 PM

Quote

bitcoind -rpcport=8332 getinfo

gave me the following output,

Quote

{
"version" : 80600,
"protocolversion" : 70001,
"walletversion" : 60000,
"balance" : 0.01100000,
"blocks" : 278479,
"timeoffset" : -10,
"connections" : 8,
"proxy" : "",
"difficulty" : 1418481395.26263547,
"testnet" : false,
"keypoololdest" : 1388704801,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"errors" : ""
}

so once I updated the port to 8332 in ~/.config/counterpartyd/counterpartyd.conf I was able to connect with biotcoind.

When I run

Quote

counterpartyd --log-file=- -v

I get the following continuous stream of output on the terminal,

Quote

2014-01-03-T01:20:57-0800 "POST / HTTP/1.1" 200 38
2014-01-03-T01:20:58-0800 Starting new HTTP connection (1): localhost
2014-01-03-T01:20:58-0800 "POST / HTTP/1.1" 200 38
2014-01-03-T01:20:59-0800 Starting new HTTP connection (1): localhost
2014-01-03-T01:20:59-0800 "POST / HTTP/1.1" 200 38
2014-01-03-T01:21:00-0800 Starting new HTTP connection (1): localhost
2014-01-03-T01:21:00-0800 "POST / HTTP/1.1" 200 38
2014-01-03-T01:21:01-0800 Starting new HTTP connection (1): localhost
2014-01-03-T01:21:01-0800 "POST / HTTP/1.1" 200 38
.
.
.

Next, In a new terminal, I tried to run the following command,

counterpartyd --rpc-password=rpcpw1234 burn --from=1CrmTo7Rtk6keeBHbN93B3tAMCm31sG5Tc --quantity=0.01

to try to burn 0.01 btc, its asking for a confirmation, when I hit 'y', it crashes with the following message,

Traceback (most recent call last):
File "", line 1, in
ImportError: No module named mechanize
1

I see that the 0.01 btc is still in my address 1CrmTo7Rtk6keeBHbN93B3tAMCm31sG5Tc and hasnt been deducted.

any insight into why this crash might be happening?

Thx for your help. I really appreciate it

Remove the project directory and re-install. The newest version should both fix the mechanize bug and be more specific about the nature of any other problems you're still having then.

PhantomPhreak

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Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: panonym on January 03, 2014, 03:54:11 PM

Could you confirm the command try I wrote is correct?

counterpartyd send --from=mypublickeyholdingXCPinsidewalletdat --quantity=1000 --asset=XCP --to=mynewvanitygenBTCaddress
is that correct to transfer 1000 XCP? (no fee? what about network spam-risk?)

That looks correct. The fee is the usual BTC fee for a transaction of that size (very small).

Quote from: panonym on January 03, 2014, 03:54:11 PM

Is there a command to see the total number of XCP?
If not, could you add it?
It would be a big plus in improving trust to your project.
(Ability to follow number of coin created, to be certain there is no XCP created without burning)

Sure. Use ./counterpartyd.py asset XCP to see how many XCP have been burned in all.

reader31

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Quote from: PhantomPhreak on January 03, 2014, 10:45:24 AM

Quote from: reader31 on January 03, 2014, 10:13:17 AM

After I get bitcoind sucessfully running(i can see the bitcoind process running),

when I try to run counterpartyd, I get the followiing error,

Quote

Traceback (most recent call last):
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/packages/urllib3/connectionpool.py", line 478, in urlopen
   body=body, headers=headers)
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/packages/urllib3/connectionpool.py", line 285, in _make_request
   conn.request(method, url, **httplib_request_kw)
  File "/usr/lib/python3.3/http/client.py", line 1061, in request
   self._send_request(method, url, body, headers)
  File "/usr/lib/python3.3/http/client.py", line 1099, in _send_request
   self.endheaders(body)
  File "/usr/lib/python3.3/http/client.py", line 1057, in endheaders
   self._send_output(message_body)
  File "/usr/lib/python3.3/http/client.py", line 902, in _send_output
   self.send(msg)
  File "/usr/lib/python3.3/http/client.py", line 840, in send
   self.connect()
  File "/usr/lib/python3.3/http/client.py", line 818, in connect
   self.timeout, self.source_address)
  File "/usr/lib/python3.3/socket.py", line 435, in create_connection
   raise err
  File "/usr/lib/python3.3/socket.py", line 426, in create_connection
   sock.connect(sa)
ConnectionRefusedError: [Errno 111] Connection refused

During handling of the above exception, another exception occurred:

Traceback (most recent call last):
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/adapters.py", line 324, in send
   timeout=timeout
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/packages/urllib3/connectionpool.py", line 528, in urlopen
   raise MaxRetryError(self, url, e)
requests.packages.urllib3.exceptions.MaxRetryError: HTTPConnectionPool(host='localhost', port=18332): Max retries exceeded with url: / (Caused by : [Errno 111] Connection refused)

During handling of the above exception, another exception occurred:

Traceback (most recent call last):
  File "/home/coin/counterpartyd_build/dist/counterpartyd/lib/bitcoin.py", line 34, in rpc
   response = requests.post(config.RPC, data=json.dumps(payload), headers=headers)
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/api.py", line 88, in post
   return request('post', url, data=data, **kwargs)
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/api.py", line 44, in request
   return session.request(method=method, url=url, **kwargs)
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/sessions.py", line 382, in request
   resp = self.send(prep, **send_kwargs)
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/sessions.py", line 485, in send
   r = adapter.send(request, **kwargs)
  File "/home/coin/counterpartyd_build/env/lib/python3.3/site-packages/requests/adapters.py", line 372, in send
   raise ConnectionError(e)
requests.exceptions.ConnectionError: HTTPConnectionPool(host='localhost', port=18332): Max retries exceeded with url: / (Caused by : [Errno 111] Connection refused)

During handling of the above exception, another exception occurred:

Traceback (most recent call last):
  File "/home/coin/counterpartyd_build/dist/counterpartyd/counterpartyd.py", line 401, in
   util.bitcoind_check(db)
  File "/home/coin/counterpartyd_build/dist/counterpartyd/lib/util.py", line 18, in bitcoind_check
   block_count = bitcoin.rpc('getblockcount', [])['result']
  File "/home/coin/counterpartyd_build/dist/counterpartyd/lib/bitcoin.py", line 36, in rpc
   raise exceptions.BitcoindRPCError('Cannot communicate with bitcoind. (Are you on testnet?)')
lib.exceptions.BitcoindRPCError: Cannot communicate with bitcoind. (Are you on testnet?)

theres are my config files,

~/.config/counterpartyd/counterpartyd.conf

[Default]
rpc-connect=localhost
rpc-port=18332
rpc-user=rpc
rpc-password=rpcpw1234

~/.bitcoin/bitcoin.conf

rpcuser=rpc
rpcpassword=rpcpw1234
server=1
daemon=1
txindex=1

I'm on ubuntu 13.10 and was able to build counterpartd sucessfully from the source....

I'm trying to get counterpartyd running on the mainnet.

any insights would be appreciated. thx.

It looks like counterpartyd is set to run on testnet, as it's looking for Bitcoind on port 18332, though neither of those configuration files has testnet enabled. Did you pass counterpartyd the option --testnet on the command-line? If so, get rid of that and try it again. What was the exact command that you tried to run? Try the following commands, too, to see what port Bitcoind is running on and whether it's working, just in case:
bitcoind -rpcport=8332 getinfo
bitcoind -rpcport=18332 getinfo

running

Quote

bitcoind -rpcport=8332 getinfo

gave me the following output,

Quote

{
   "version" : 80600,
   "protocolversion" : 70001,
   "walletversion" : 60000,
   "balance" : 0.01100000,
   "blocks" : 278479,
   "timeoffset" : -10,
   "connections" : 8,
   "proxy" : "",
   "difficulty" : 1418481395.26263547,
   "testnet" : false,
   "keypoololdest" : 1388704801,
   "keypoolsize" : 101,
   "paytxfee" : 0.00000000,
   "errors" : ""
}

so once I updated the port to 8332 in ~/.config/counterpartyd/counterpartyd.conf I was able to connect with biotcoind.

When I run

Quote

counterpartyd --log-file=- -v

I get the following continuous stream of output on the terminal,

Quote

2014-01-03-T01:20:57-0800 "POST / HTTP/1.1" 200 38
2014-01-03-T01:20:58-0800 Starting new HTTP connection (1): localhost
2014-01-03-T01:20:58-0800 "POST / HTTP/1.1" 200 38
2014-01-03-T01:20:59-0800 Starting new HTTP connection (1): localhost
2014-01-03-T01:20:59-0800 "POST / HTTP/1.1" 200 38
2014-01-03-T01:21:00-0800 Starting new HTTP connection (1): localhost
2014-01-03-T01:21:00-0800 "POST / HTTP/1.1" 200 38
2014-01-03-T01:21:01-0800 Starting new HTTP connection (1): localhost
2014-01-03-T01:21:01-0800 "POST / HTTP/1.1" 200 38
.
.
.

Next, In a new terminal, I tried to run the following command,

counterpartyd --rpc-password=rpcpw1234 burn --from=1CrmTo7Rtk6keeBHbN93B3tAMCm31sG5Tc --quantity=0.01

to try to burn 0.01 btc, its asking for a confirmation, when I hit 'y', it crashes with the following message,

Traceback (most recent call last):
File "", line 1, in
ImportError: No module named mechanize
1

I see that the 0.01 btc is still in my address 1CrmTo7Rtk6keeBHbN93B3tAMCm31sG5Tc and hasnt been deducted.

any insight into why this crash might be happening?

Thx for your help. I really appreciate it

panonym

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Quote from: Wekkel on January 03, 2014, 04:08:51 PM

I must be too far away from serious dev talk, but could someone explain all this in lay man's terms?

- The proof of burn (POB) the dev implemented is a fair, secure and trustless way to generate new coin & split them amongst investor. [first one to such perfected level]

- This is a protocol on top of Bitcoin (no alternative blockchain)

- descentralized exchange feature exist from the lunch. [first one having something else than words]

Wekkel

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yes

I must be too far away from serious dev talk, but could someone explain all this in lay man's terms?

panonym

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Quote from: PhantomPhreak on January 03, 2014, 03:49:26 PM

Actually, send also works for XCP.

I edit a bit too much my post, sorry about that.
Could you confirm the command try I wrote is correct?

counterpartyd send --from=mypublickeyholdingXCPinsidewalletdat --quantity=1000 --asset=XCP --to=mynewvanitygenBTCaddress
is that correct to transfer 1000 XCP? (no fee? what about network spam-risk?)

Is there a command to see the total number of XCP?
If not, could you add it?
It would be a big plus in improving trust to your project.
(Ability to follow number of coin created, to be certain there is no XCP created without burning)

edit: and thanks for the 3 links.
Already saw them, but good that people reading this tread see the 3 link at one place.
Seems to me you have already done a pretty good job with the doc.
Compare to the average newcoin we get, I'm impressed.

panonym

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Quote from: NewLiberty on January 03, 2014, 03:38:32 PM

This method is worthy of notice. ++confidence.
One point not mentioned above, PoB, it is also a donation to the larger Bitcoin community in creating slightly more scarce bitcoin.

Yup, NewLiberty is correct.
POB is not a treat to BTC at all.
If it does one thing, it is slightly speeding up it's deflation (or guarantee it).
Theorically. After: it's a pure freemarket.
Where sometime shitty project have huge success & amazing project much less than it should.
Don't think humanity-as-a-whole extremely rational...

PhantomPhreak

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Counterparty Chief Scientist and Co-Founder

Quote from: panonym on January 03, 2014, 03:21:47 PM

issuance became totaly obscure to me.
I hope we will see centralized info in the coming 1~2 month. FAQ etc. or wiki-style
A gui too, even if limited at the beginning. <== wish wish

Absolutely. For the record, right now there's a README, a protocol spec. and some documentation at Read the Docs.

Quote from: panonym on January 03, 2014, 03:21:47 PM

For counterpartyd to send the XCP to another address: What would the command line looks?

edit: Oh I see on github you have a send command.
Will we finally have descentralized email system where the sender must pay to contact you? 'want that!
edit2: miss read, doesn't seem to be that at all, a pity. [it's for sending assets]

Actually, send also works for XCP.

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 656. (Read 1276928 times)