Following the instructions here http://counterpartyd-build.readthedocs.org/
Installed Bitcoin-qt, downloaded the blockchain, added the bitcoin.conf file and left out the testnet=1 line.
Restarted Bitcoin-qt, got an error that I needed to reindex, so I followed someone's suggestion to run bitcoind with the command 'bitcoind --txindex=1 --reindex=1'. The terminal sat doing apparently nothing, so after a few hours I quit it, then Bitcoin-qt was able to run and reindexed the block chain for another 18 hours or so, and that process finished.
Now when I run bitcoind, it just sits there with the flashing cursor, has been for over 12 hours. So is it likely to be reindexing again? Does it need to reindex having already been reindexed using Bitcoin-qt? Is there any way to see what it is doing? Seems to be using a fair amount of system resources.
Counterparty thread https://bitcointalksearch.org/topic/annxcp-counterparty-pioneering-peer-to-peer-finance-official-thread-395761
The reindexing does take about a day.
'Bitcoind ' is a server, so it will just sit there and keep flashing.
After doing this.
a) You need to run/launch the counterpartyd server on a command prompt
python.exe run.py server
(use full paths)
b) Then you can open another another command prompt and issue commands
e.g.,
python.exe run.py address ADDRESSHERE
Also, you can post in the counterparty forums.
forums.counterparty.co