[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 659.

btc4ever

sr. member

Activity: 321

Merit: 250

Running setup.py on ubuntu, get this error:

Quote

Setting up sqlite3 (3.7.13-1) ...
Processing triggers for libc-bin ...
ldconfig deferred processing now taking place
sudo: pip3: command not found
2014-01-02 16:46:30,314|ERROR: Command failed: 'sudo pip3 install appdirs==1.2.0'

$ sudo pip-3.2 install appdirs==1.2.0
Requirement already satisfied (use --upgrade to upgrade): appdirs==1.2.0 in /usr/local/lib/python3.2/dist-packages
Cleaning up...

$ ./counterpartyd.py
Traceback (most recent call last):
File "./counterpartyd.py", line 17, in
import dateutil.parser
ImportError: No module named dateutil.parser

$ sudo pip-3.2 install dateutil
Downloading/unpacking dateutil
Real name of requirement dateutil is dateutil
Could not find any downloads that satisfy the requirement dateutil
No distributions at all found for dateutil

so setup.py fails on pip3 appdirs, counterpartyd complains about missing dateutil, and I'm not sure how to install dateutil.

btc4ever

sr. member

Activity: 321

Merit: 250

Geez, is there a python library someone has written somewhere that you guys don't import?

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: btc4ever on January 02, 2014, 06:41:40 PM

Can you provide an example of how one currency would be traded for another via the distributed exchange mechanism?

Is it like entering a limit order that matches against other orders? Or more like a 2 party + escrow system, possibly via multisig?

I'm a command-line guy, so I'd be curious to see examples of actual commands used.

And how can I cancel the order?

No problem. It's a lot like a limit order.

Let's say that you want to sell 10 XCP for GOLD shares (particular IOUs for gold) at a price of at least 2 GOLD/XCP. You'd run this command:

./counterpartyd.py [--testnet] [--rpc-password=PASSWORD] order --from=ADDRESS --give-quantity=10 --give-asset=XCP --get-quantity=20 --get-asset=GOLD --expiration=WHATEVER

If there are any orders already on the books selling GOLD for XCP at a price above 2 GOLD/XCP, then your order will immediately be matched to the order at the best price (for you), but at *that* price (which would still meet your criteria). As soon as an order is matched, it is settled, and the GOLD is in your wallet. The 'give' funds in any open order are held in escrow by the network, as it were, as long as the order is open.

You cancel an order simply by [attempting to] accept it yourself. There's a chance that you won't get there in time, but that chance exists either way, that is if there were a 'cancel order' command, and it is the same in both cases. ~~There isn't any cancelling of orders. It would be very easy to implement, though.~~ EDIT: Cancelling orders and bets is now possible.

If you're buying or selling BTC, there's an extra step of finalizing a matched order, because Counterparty can't forcibly put your BTC in escrow. Every such order match for which you owe someone BTC is displayed on the 'market' screen (./counterparty market, along with its 'order match ID', which is the only argument to the 'btcpay' command. That command will figure out out many BTC you owe for the order in question and it will send it along its way automatically.

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: killerstorm on January 02, 2014, 06:23:54 PM

I was unable to find code which handles blockchain reorganizations.

Also, it looks like you parse the whole blockchain at start... or am I missing something?

counterpartyd does not handle blockchain reorganizations yet. Thanks for bringing that up. Currently, it builds a persistent-across-sessions database of all Counterparty transactions, which are easily and simply identified, and then, on every start-up, counterparty actually does the parsing of those transactions, from the beginning (deleting and recreating those tables in the DB). This situation is temporary---it made development easier, because the parsing rules were always changing, and the identification of transactions never was. At the moment, the only way to handle a reorg. is to delete the database manually.

btc4ever

sr. member

Activity: 321

Merit: 250

Can you provide an example of how one currency would be traded for another via the distributed exchange mechanism?

Is it like entering a limit order that matches against other orders? Or more like a 2 party + escrow system, possibly via multisig?

I'm a command-line guy, so I'd be curious to see examples of actual commands used.

And how can I cancel the order?

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: Kyune on January 02, 2014, 06:17:46 PM

Quote from: PhantomPhreak on January 02, 2014, 05:42:27 PM

For an example successful burn on mainnet, see transaction 685623401c3f5e9d2eaaf0657a50454e56a270ee7630d409e98d3bc257560098. (Of course it looks a little funny on blockchain.info.)

0.0005 BTC were burned and 0.74959091 XCP were earned, at a price of 1499.18182 XCP/BTC. The transaction is correctly parsed by counterpartyd.

How could one "back up", or move, such earned XCP to a different machine (that is also running counterparty, of course)? Would be it be sufficient just to copy the bitcoin wallet.dat for the bitcoin address that burned the BTC, or would some data file specific to counterparty also need to be copied over?

Sure. The XCP are tied to the Bitcoin address, so if you have that address's private key on the new computer, you're good.

killerstorm

legendary

Activity: 1022

Merit: 1033

I was unable to find code which handles blockchain reorganizations.

Also, it looks like you parse the whole blockchain at start... or am I missing something?

Kyune

sr. member

Activity: 287

Merit: 250

Quote from: PhantomPhreak on January 02, 2014, 05:42:27 PM

For an example successful burn on mainnet, see transaction 685623401c3f5e9d2eaaf0657a50454e56a270ee7630d409e98d3bc257560098. (Of course it looks a little funny on blockchain.info.)

0.0005 BTC were burned and 0.74959091 XCP were earned, at a price of 1499.18182 XCP/BTC. The transaction is correctly parsed by counterpartyd.

How could one "back up", or move, such earned XCP to a different machine (that is also running counterparty, of course)? Would be it be sufficient just to copy the bitcoin wallet.dat for the bitcoin address that burned the BTC, or would some data file specific to counterparty also need to be copied over?

johnngbluntzky

full member

Activity: 126

Merit: 100

Quote from: PhantomPhreak on January 02, 2014, 06:00:18 PM

Quote from: johnngbluntzky on January 02, 2014, 05:54:27 PM

when you say user-created assets, does that mean we will be to trade -any- coin that others are willing to buy? so we don't have to wait for cryptsy coinedup etc.. to post new coins up, we can do it ourselves here?

You can't trade, say, Peercoin on Counterparty; but you can create currencies *in* Counterparty, and then trade those on Counterparty as you like. You can also use Counterparty to create IOUs for existing things-of-value (like peercoins or US dollars), and trade those, etc., on Counterparty in a completely peer-to-peer fashion.

seems very innovative, thanks for bringing something new and interesting to the table.

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: johnngbluntzky on January 02, 2014, 05:54:27 PM

when you say user-created assets, does that mean we will be to trade -any- coin that others are willing to buy? so we don't have to wait for cryptsy coinedup etc.. to post new coins up, we can do it ourselves here?

You can't trade, say, Peercoin on Counterparty; but you can create currencies *in* Counterparty, and then trade those on Counterparty as you like. You can also use Counterparty to create IOUs for existing things-of-value (like peercoins or US dollars), and trade those, etc., on Counterparty in a completely peer-to-peer fashion.

johnngbluntzky

full member

Activity: 126

Merit: 100

when you say user-created assets, does that mean we will be to trade -any- coin that others are willing to buy? so we don't have to wait for cryptsy coinedup etc.. to post new coins up, we can do it ourselves here?

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

For an example successful burn on mainnet, see transaction 685623401c3f5e9d2eaaf0657a50454e56a270ee7630d409e98d3bc257560098. (Of course it looks a little funny on blockchain.info.)

0.0005 BTC were burned and 0.74959091 XCP were earned, at a price of 1499.18182 XCP/BTC. The transaction is correctly parsed by counterpartyd.

cityglut

full member

Activity: 216

Merit: 100

Quote from: jeroenn13 on January 02, 2014, 05:10:15 PM

Guys, these members are new at Bitcointalk.
Please make sure you won't donate / spend anything before they actually showed something.

It "COULD" be a scam.

The only 'scam' that there could would be in the code somewhere, and the project is open-source, you can check out the code at https://github.com/PhantomPhreak/counterpartyd/.

The code should speak for itself, and if anyone thinks it is worthwhile, we would really appreciate donations, as we are currently funding Counterparty out of our own pockets.

jeroenn13

hero member

Activity: 644

Merit: 500

Guys, these members are new at Bitcointalk.
Please make sure you won't donate / spend anything before they actually showed something.

It "COULD" be a scam.

becherovka

newbie

Activity: 29

Merit: 0

Quote from: jeroenn13 on January 02, 2014, 03:17:35 PM

Sorry but we have MasterCoin already. Huh

https://bitcointalksearch.org/topic/mastercoin-new-protocol-layer-starting-from-the-exodus-address-265488

Why can't you can have both? Please! Go ahead! Be greedy!

Download Counterparty and any others and decide which platform is best for your needs.

Opensource here: https://github.com/PhantomPhreak/counterpartyd/

reader31

full member

Activity: 221

Merit: 100

cool. thx for the quick response

cityglut

full member

Activity: 216

Merit: 100

Quote from: reader31 on January 02, 2014, 04:08:39 PM

one more question...

should the burning source address be created on the local bitcoin-qt wallet only or can I use a btc address from an online wallet like blockchain.info?

thx.

The burning source address must be created on the local bitcoin-qt wallet.

wizzardTim

legendary

Activity: 1708

Merit: 1000

Reality is stranger than fiction

Is the bitcoin qt wallet necessary for this?

reader31

full member

Activity: 221

Merit: 100

one more question...

should the burning source address be created on the local bitcoin-qt wallet only or can I use a btc address from an online wallet like blockchain.info?

thx.

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: reader31 on January 02, 2014, 03:53:14 PM

I have a couple questions,

1)

If I want to go ahead and test burning of real btc on the mainnet using,

./counterparty --rpc-password=PASSWORD burn --from=ADDRESS --quantity=QUANTITY

can I go ahead and do that now?

2)

Quote

The Counterparty protocol depends on the OP_RETURN feature of Bitcoin, which will not be widely enabled until the release of Bitcoind 0.9 in a number of weeks. Until then, Counterparty transactions on mainnet need to be mined by the pool Eligius, and so transaction times will be on the order of one hour.

This just means that I have to wait a few hours to see any of the burning transactions that I do on the mainnet right?

1) Yes you can, as long as you have the latest version from GitHub.

2) Correct.

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 659. (Read 1276928 times)