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Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 508. (Read 1276912 times)

hero member
Activity: 588
Merit: 504
what does "no more burning" mean. Can I still create an asset?

burning was the initial bootstrap stage of acquiring XCP for BTC. now all trade is P2P via DEX or exchanges.
yes you can still create assets, bets, feeds etc. no problem.
member
Activity: 68
Merit: 10
member
Activity: 82
Merit: 10
We pass Mastercoin at .025

We pass Nxt at .03

Then XCP = King of Next-Gen Crypto!

(until Ethereum shows up...maybe?)

Nah ...  the Ethereum team have some smart ideas.  

But the Counterparty team is actually writing code!
hero member
Activity: 579
Merit: 500
CoinQuacker
what does "no more burning" mean. Can I still create an asset?
member
Activity: 82
Merit: 10
Current reward for burning 1 btc? Will this coin remain scarce?

The burn period is over.

Buy orders via centralised exchange (poloniex) is currently at 0.01BTC per XCP meaning 100 XCP for every 1BTC.

XCP has a fixed supply of no more than 2,648,756 XCP. This would not increase day to day, month to month or year to year, because there is no concept of  proof-of-work mining to introduce fresh coins to the supply on regular intervals (and therefore inflate- Bitcoin would need approx 2.3 million $ of fresh income per 24hours in order to maintain it's current price level, XCP does not need to compensate miners ). This number could only ever decrease. (for example, with loss of private keypairs) so to answer your question, yes this coin has scarcity-value if that is what interests you.

The real excitement will come when we begin to see web wallets, dramatically lowering the barrier to entry. real use of decentralised aspects of exchange, for example an asset issuer taking advantage of this mechanism


XCP is the rarest of the coins!

Recall that initial asset issuances destroy 5 XCP, permanently. So not just lost keys...

(I'm thinking this fee has to go down at some point in the future, because of the rapidly appreciating value.)

Yes, true, not just lost keys.  =)   XCP will actually become increasingly scarce as the stock of assets trading on Counterparty grows, wow! (what a cool insight)  So, not only is it the rarest of coins, but it will become even rarer as the project gains traction and achieves success!  =)  

This creates the potential for a non-linear rise in XCP price - hold onto your chairs folks!  

As for the 5 XCP fee, while this may need to be reviewed periodically, IMHO it is healthy to keep a high barrier in place as a meaningful way to prevent the creation of "crap" assets and if we are slowly raising the bar on quality control over time as XCP becomes more valuable, well, I think that is a healthy dynamic actually!
legendary
Activity: 876
Merit: 1000
Etherscan.io
Current reward for burning 1 btc? Will this coin remain scarce?

The burn period is over.

Buy orders via centralised exchange (poloniex) is currently at 0.01BTC per XCP meaning 100 XCP for every 1BTC.

XCP has a fixed supply of no more than 2,648,756 XCP. This would not increase day to day, month to month or year to year, because there is no concept of  proof-of-work mining to introduce fresh coins to the supply on regular intervals (and therefore inflate- Bitcoin would need approx 2.3 million $ of fresh income per 24hours in order to maintain it's current price level, XCP does not need to compensate miners ). This number could only ever decrease. (for example, with loss of private keypairs) so to answer your question, yes this coin has scarcity-value if that is what interests you.

The real excitement will come when we begin to see web wallets, dramatically lowering the barrier to entry. real use of decentralised aspects of exchange, for example an asset issuer taking advantage of this mechanism


XCP is the rarest of the coins!

Recall that initial asset issuances destroy 5 XCP, permanently. So not just lost keys...

(I'm thinking this fee has to go down at some point in the future, because of the rapidly appreciating value.)


Perhaps, but I think the fee should also remain for now... The issuance fee is the only deflationary variable at the moment and it also makes spamming a little bit more costly. What I would like to see are high quality assets vs just pure quantity (number of assets)

Btw, JimHsu thank you for the informative posts on reddit!
sr. member
Activity: 336
Merit: 250
CS Student - BC Logo Guy
XCP = King of Next-Gen Crypto!

(until Ethereum shows up...maybe?)

Nah, first functional mover status Smiley
sr. member
Activity: 336
Merit: 250
CS Student - BC Logo Guy
Yeah, a 5XCP destruction seems unsustainable. Maybe make the fee a certain percentage of XCP in circulation. Perhaps 1.887678593271709e-6% (5/2,648,756)?
sr. member
Activity: 364
Merit: 264
Current reward for burning 1 btc? Will this coin remain scarce?

The burn period is over.

Buy orders via centralised exchange (poloniex) is currently at 0.01BTC per XCP meaning 100 XCP for every 1BTC.

XCP has a fixed supply of no more than 2,648,756 XCP. This would not increase day to day, month to month or year to year, because there is no concept of  proof-of-work mining to introduce fresh coins to the supply on regular intervals (and therefore inflate- Bitcoin would need approx 2.3 million $ of fresh income per 24hours in order to maintain it's current price level, XCP does not need to compensate miners ). This number could only ever decrease. (for example, with loss of private keypairs) so to answer your question, yes this coin has scarcity-value if that is what interests you.

The real excitement will come when we begin to see web wallets, dramatically lowering the barrier to entry. real use of decentralised aspects of exchange, for example an asset issuer taking advantage of this mechanism


XCP is the rarest of the coins!

Recall that initial asset issuances destroy 5 XCP, permanently. So not just lost keys...

(I'm thinking this fee has to go down at some point in the future, because of the rapidly appreciating value.)
sr. member
Activity: 364
Merit: 264
I just saw a BTCpay of 7 a few blocks ago. Things are getting serious...

For those 'regret' threads: Do I wish that I had not sold some early and not burned more (even though I did go through most of my little bit of cold storage)? Possibly. Do I think about it? Nah. The way is forward, not back. Make projects, do marketing, get stuff done to earn more.

PS From the looks of it, most commentors on this thread probably burned more than me.
hero member
Activity: 672
Merit: 500
What a sweet feeling to see the BTC arriving directly into your wallet when selling on the DEX Smiley

Even though they've been sold under the market price now...
sr. member
Activity: 386
Merit: 250
I can't reach Poloniex. Anyone else getting a timeout?

I'm not sure what that was. All I know is that it was not web traffic. It was either a lapse in available bandwidth, or someone testing the waters to see what it would take to do a DDoS. I'll have to sift through some logs to determine that.

No subsequent issues. Looks good.

How many confirms for BTC deposit do you need for my funds to be available for trading? (Please also post the answer in the FAQ section of poloniex.) Thank you.
hero member
Activity: 602
Merit: 500
24-hour Volume is currently: 80.60953565 BTC on Poloniex. Earlier this was 85+  Huh

It's right.Because it has pasted 24 hours, 24-hour Volume will change of course. 24-hour Volume is just the recent 24 hours volume total.
member
Activity: 74
Merit: 10
On the first page .I suggest to put the https://counterparty.co/ link .since more and more people need information for xcp
hero member
Activity: 672
Merit: 500
24-hour Volume is currently: 80.60953565 BTC on Poloniex. Earlier this was 85+  Huh

Sliding 24h volume, 5 BTC were traded 24h ago
hero member
Activity: 588
Merit: 504
24-hour Volume is currently: 80.60953565 BTC on Poloniex. Earlier this was 85+  Huh
hero member
Activity: 672
Merit: 500
I regret selling some of my XCP.    Sad

Same here, but at least I kept 80%

Damn, I've just been beaten on the edge for the order @0.01 on the DEX for an arbitrage trade

Orders were passed in the same block... How are the orders sorted ? I've provided a better fee but the quantity was lower (the other one was a full 7 BTC buy)

http://www.blockscan.com/order.aspx?q=4127
http://www.blockscan.com/order.aspx?q=4128

Nice stress test for the DEX !



mighta been me 0_o



And you've just payed !

If you're kind, you can match my order to give me a tiny bit of your treasure Smiley

I'm still interested to know why you were prioritized
member
Activity: 82
Merit: 10
Current reward for burning 1 btc? Will this coin remain scarce?

The burn period is over.

Buy orders via centralised exchange (poloniex) is currently at 0.01BTC per XCP meaning 100 XCP for every 1BTC.

XCP has a fixed supply of no more than 2,648,756 XCP. This would not increase day to day, month to month or year to year, because there is no concept of  proof-of-work mining to introduce fresh coins to the supply on regular intervals (and therefore inflate- Bitcoin would need approx 2.3 million $ of fresh income per 24hours in order to maintain it's current price level, XCP does not need to compensate miners ). This number could only ever decrease. (for example, with loss of private keypairs) so to answer your question, yes this coin has scarcity-value if that is what interests you.

The real excitement will come when we begin to see web wallets, dramatically lowering the barrier to entry. real use of decentralised aspects of exchange, for example an asset issuer taking advantage of this mechanism


XCP is the rarest of the coins!
hero member
Activity: 602
Merit: 500
I did some rework on the existing logo. Added some depth and dark colors.

This could be a temporary logo waiting for an official one by Matt Y buddy.



Hi def HERE

Update with an outline to imporve readablility



Hi def HERE

Good LOGO
sr. member
Activity: 294
Merit: 250
I'm pretty bummed still that I only burnt 6btc.  This was my big chance to finally get over 250btc and I blew it.

I think you'll turn those 6 into 250 without much issues  Grin
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