[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 91.

Matt Y

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Counterpartying

Quote from: BldSwtTrs on June 14, 2015, 03:14:57 PM

It's quite possible that smart contracts on Bitcoin chain will solve some business issues while smart contracts on non-BTC chain will solve other issues. The future is not binary.

What I am saying is that Symbiont has more optionality than XCP. Symbiont could make money even if Counterparty turn out to be a failure.
The two investments have different optionality hence their relative valuation doesn't follow a simple linear relationship.

Yeah, but it would be a huge setback for Symbiont if Counterparty somehow failed. They just took on all three Counterparty founders and made them co-founders, which has a real cost of equity and money, and Symbiont (now including an ex NYSE CEO) is directly funding the development of Counterparty. Similarly, BitPay might not need Bitcoin to make money, but it would be a hell of a setback if Bitcoin turned out to be a failure.

For clarity: An ex CEO of the NYSE is funding Counterparty and its devs through his investment in Symbiont. That's ridiculously awesome.

qqqq

legendary

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Looks like a false alarm. Balance was updated after last distribution on 14 june but history page still stopped on 7 june.

BldSwtTrs

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Quote from: Matt Y on June 14, 2015, 11:24:03 AM

Quote from: BldSwtTrs on June 14, 2015, 03:24:57 AM

Quote from: Matt Y on June 13, 2015, 06:48:14 PM

Quote from: BldSwtTrs on June 13, 2015, 04:54:13 PM

Quote from: Matt Y on June 13, 2015, 01:54:55 PM

It's actually disappointing that it only went up as much as it did on volume that's still so low. We'll see what happens in the coming days.

Well, Symbiont faith is not 100% ties to XCP, I heard xnova said that their startup consults about blockchain solutions, not specifically about Counterparty.

Not sure where you heard that. Link?

They are building on Counterparty technology and Symbiont using Counterparty while not using XCP is similar to saying BitPay is using the blockchain, but not using bitcoins.

https://www.youtube.com/watch?v=FUZJ0QRjVUI#

It starts at 56:40.
He said private blockchains have merits, Symbiont take a pragmatic approach and is about helping clients to fullfil their needs. By default they use BTC/XCP but he admits that it might not always be the most appropriate solution for their clients, so they will adapt.

I think what he said and what Symbiont plan to do is smart, but that means their business model is not ties to the success of Counterparty.

I think you misinterpreted the answer a bit. The Symbiont model is built on top Bitcoin/Counterparty. Symbiont may also serve other needs of clients, which may include private blockchain. It's a trillion dollar market and this is fine.

I guess my gripe is you overlook everything where they say they will use Counterparty to find the one sound bite that says that in the end they "serving clients' needs" and *some* clients *may* have needs that are X or Y. I'd say that if you think having smart contracts on Bitcoin is going to solve the issues of even some businesses, then you're good to invest in Counterparty because they are the only people who do that. If you think everyone will want their own private blockchain and nobody will use smart contracts on Bitcoin, then sell all your XCP now, if you own any.

It's quite possible that smart contracts on Bitcoin chain will solve some business issues while smart contracts on non-BTC chain will solve other issues. The future is not binary.

What I am saying is that Symbiont has more optionality than XCP. Symbiont could make money even if Counterparty turn out to be a failure.
The two investments have different optionality hence their relative valuation doesn't follow a simple linear relationship.

Matt Y

hero member

Activity: 647

Merit: 510

Counterpartying

Quote from: qqqq on June 14, 2015, 11:45:51 AM

Why support function of counterparty wallet doesn't work ?

Quote

failoverAPI: Call failed (failed over across all servers). Method: create_support_case; Last error: JSON-RPC Error:
Type: Server error

Code: -32000

Message: Sending of support emails are disabled on the server: no SUPPORT_EMAIL address set

They removed this and noted it in the last community update, I think. You should look for support on Counterpartytalk.org.

Matt Y

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Activity: 647

Merit: 510

Counterpartying

Quote from: bhokor on June 14, 2015, 07:00:59 AM

There are some stimated release date for symbiont?

Ethereum is not accepting pull requests from Counterparty. Counterparty does not want to fork the Ethereum VM code so that if/when Ethereum fails all the Ethereum devs can move to Counterparty/Bitcoin without any issue. No rewriting of code required, their smart contracts will automatically work on Counterparty.

qqqq

legendary

Activity: 1596

Merit: 1011

Why support function of counterparty wallet doesn't work ?

Quote

failoverAPI: Call failed (failed over across all servers). Method: create_support_case; Last error: JSON-RPC Error:
Type: Server error

Code: -32000

Message: Sending of support emails are disabled on the server: no SUPPORT_EMAIL address set

Matt Y

hero member

Activity: 647

Merit: 510

Counterpartying

Quote from: BldSwtTrs on June 14, 2015, 06:59:43 AM

Quote from: bitcoinrocks on June 14, 2015, 04:23:10 AM

I still think we're confusing terms. It sounds like some people are concerned that Symbiont won't be using Counterparty exclusively and others are concerned that Symbiont will be using Counterparty without XCP. I believe the former is true and that's fine. We already know they're using Ripple for sure. I think the odds that Symbiont would use Counterparty without XCP are zero. They're the original Counterparty devs so they obviously believe in the utility of the currency unit.

Symbiont can :
- consult about using Counterparty without leveraging XCP
- consult about using blockchains other than the Bitcoin blockchain

These are facts, not opinions. Symbiont is here to make money, this is its responsability to its shareholders, and it will not hinder that goal by ideologically limiting its options.

It's like Coinbase, Coinbase doesn't care if an altcoin dethrone BTC because it still will be able to monetize its client base.
Valuation of startups like Coinbase and Symbiont are only partially related to the valuation of one specific protocol.

This is the opposite of a fact. You can't use Counterparty in any meaningful way without using XCP.

With regards to your Coinbase example. If some altcoin displaced Bitcoin, which will never happen, Counterparty could attach itself to the new coin.

Matt Y

hero member

Activity: 647

Merit: 510

Counterpartying

Quote from: BldSwtTrs on June 14, 2015, 03:24:57 AM

Quote from: Matt Y on June 13, 2015, 06:48:14 PM

Quote from: BldSwtTrs on June 13, 2015, 04:54:13 PM

Quote from: Matt Y on June 13, 2015, 01:54:55 PM

It's actually disappointing that it only went up as much as it did on volume that's still so low. We'll see what happens in the coming days.

Well, Symbiont faith is not 100% ties to XCP, I heard xnova said that their startup consults about blockchain solutions, not specifically about Counterparty.

Not sure where you heard that. Link?

They are building on Counterparty technology and Symbiont using Counterparty while not using XCP is similar to saying BitPay is using the blockchain, but not using bitcoins.

https://www.youtube.com/watch?v=FUZJ0QRjVUI#

It starts at 56:40.
He said private blockchains have merits, Symbiont take a pragmatic approach and is about helping clients to fullfil their needs. By default they use BTC/XCP but he admits that it might not always be the most appropriate solution for their clients, so they will adapt.

I think what he said and what Symbiont plan to do is smart, but that means their business model is not ties to the success of Counterparty.

I think you misinterpreted the answer a bit. The Symbiont model is built on top Bitcoin/Counterparty. Symbiont may also serve other needs of clients, which may include private blockchain. It's a trillion dollar market and this is fine.

I guess my gripe is you overlook everything where they say they will use Counterparty to find the one sound bite that says that in the end they "serving clients' needs" and *some* clients *may* have needs that are X or Y. I'd say that if you think having smart contracts on Bitcoin is going to solve the issues of even some businesses, then you're good to invest in Counterparty because they are the only people who do that. If you think everyone will want their own private blockchain and nobody will use smart contracts on Bitcoin, then sell all your XCP now, if you own any.

Matt Y

hero member

Activity: 647

Merit: 510

Counterpartying

Quote from: delulo on June 14, 2015, 09:59:34 AM

Does someone have a quick summary on...

1) the (potential) reason(s) for the price appreciation.

2) for the use of XCP in the entrepreneurial efforts of the Counterparty founders.

You can either scroll up and read the thread, or click this link: http://shitco.in/2015/06/13/life-is-a-pump-and-dump-front-run-the-xcp-pump/

Actually a nice article on your exact questions.

delulo

sr. member

Activity: 441

Merit: 250

Does someone have a quick summary on...

1) the (potential) reason(s) for the price appreciation.

2) for the use of XCP in the entrepreneurial efforts of the Counterparty founders.

BldSwtTrs

legendary

Activity: 861

Merit: 1010

Quote from: gumcruise on June 14, 2015, 09:01:40 AM

You CANNOT use self-executing digital contracts without XCP!

Yes you can if the smart contrat is not on the Bitcoin blockchain.

gumcruise

newbie

Activity: 35

Merit: 0

From the official Symbiont press release:

Quote

Symbiont.io is a FinTech company focused on fostering the symbiotic relationship between traditional financial markets and cryptographic blockchain technology. Its efforts will be centered on the creation of SMART SECURITIES™: self-executing digital contracts that are stored on a global, shared database called a "blockchain," which no one party controls.

Robby Dermody, co-founder of Counterparty and President of symbiont.io, added: "Since we founded Counterparty over a year ago, our focus has consistently been on the creation and positioning of this technology as a solution for structural issues in the larger financial markets. Symbiont is the next step in achieving that goal."

Source: http://www.prnewswire.com/news-releases/founders-of-bitcoin-20-project-counterparty-team-up-with-mathmoney-fx-to-make-markets-smarter-300047977.html

You CANNOT use self-executing digital contracts without XCP!

Quote

XCP is the fuel for smart contracts. When smart contracts are running, fuel is used for each execution step. Appropriately enough, this fuel is burned (destroyed). This means that the supply of XCP is continously decreasing. However, the cost of fuel adjusts proportionally as the supply of XCP goes down, so that it cannot reach 0.

Source: http://counterparty.io/docs/faq/#why-does-xcp-have-value

Can't be any clearer than this.

Bonus:

Quote

With the Ripple Gateway implementation, Counterparty users will now be able to transfer their funds in real-time with minimal transaction fees.

Symbiont connects XCP to Ripple to enable (almost) instant transactions. Why is this not bigger news? Roll Eyes

http://www.prnewswire.com/news-releases/symbiont-creates-ripple-gateway-for-counterparty-xcp-300058719.html

qqqq

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Quote from: Praxis on June 14, 2015, 07:39:35 AM

Quote from: qqqq on June 14, 2015, 05:15:48 AM

but wallet stoped with Txs on 7 jule as i can see in the history page. So it seems to be freezing or something. No FLDC from 7 june - 14 june was given.

Does the web wallet function properly? Did you try sending or receiving?

No, i'am not sending or receiving anything. It seems like not updating the balances and Tx's of given FLDC (According blockscan it's ok). But it allows to place orders and show properly the xcp balance when i bought that one. So i'm confused. Maybe it's because of some problems with distribution of FLDC last time or a bug in the wallet or both.

Praxis

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Quote from: qqqq on June 14, 2015, 05:15:48 AM

but wallet stoped with Txs on 7 jule as i can see in the history page. So it seems to be freezing or something. No FLDC from 7 june - 14 june was given.

Does the web wallet function properly? Did you try sending or receiving?

Praxis

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Quote from: jbah01 on June 14, 2015, 07:09:12 AM

Quote from: bhokor on June 14, 2015, 07:00:59 AM

There are some stimated release date for symbiont?

Think the press release said something about launching the first assets in about a month.

That sounds like way too early. I'm surprised. Do you have a source?

jbah01

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Quote from: bhokor on June 14, 2015, 07:00:59 AM

There are some stimated release date for symbiont?

Think the press release said something about launching the first assets in about a month.

bhokor

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There are some stimated release date for symbiont?

BldSwtTrs

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Quote from: bitcoinrocks on June 14, 2015, 04:23:10 AM

I still think we're confusing terms. It sounds like some people are concerned that Symbiont won't be using Counterparty exclusively and others are concerned that Symbiont will be using Counterparty without XCP. I believe the former is true and that's fine. We already know they're using Ripple for sure. I think the odds that Symbiont would use Counterparty without XCP are zero. They're the original Counterparty devs so they obviously believe in the utility of the currency unit.

Symbiont can :
- consult about using Counterparty without leveraging XCP
- consult about using blockchains other than the Bitcoin blockchain

These are facts, not opinions. Symbiont is here to make money, this is its responsability to its shareholders, and it will not hinder that goal by ideologically limiting its options.

It's like Coinbase, Coinbase doesn't care if an altcoin dethrone BTC because it still will be able to monetize its client base.
Valuation of startups like Coinbase and Symbiont are only partially related to the valuation of one specific protocol.

qqqq

legendary

Activity: 1596

Merit: 1011

Hello guys. Do you have a problem with web wallet of counterparty ? I mean blockchain and blockscan shows that all is ok but wallet stoped with Txs on 7 jule as i can see in the history page. So it seems to be freezing or something. No FLDC from 7 june - 14 june was given.

bitcoinrocks

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I still think we're confusing terms. It sounds like some people are concerned that Symbiont won't be using Counterparty exclusively and others are concerned that Symbiont will be using Counterparty without XCP. I believe the former is true and that's fine. We already know they're using Ripple for sure. I think the odds that Symbiont would use Counterparty without XCP are zero. They're the original Counterparty devs so they obviously believe in the utility of the currency unit.

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 91. (Read 1276789 times)