Overstock and CounterParty....much news. - page 2.

Nxtblg

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Quote from: EvilDave on October 06, 2014, 08:25:24 PM

Quote from: Bitcopia on October 06, 2014, 08:09:44 PM

I'm surprised XCP / BTC volume is so low! I thought it was going to go wild after this announcement, but we're looking at 148 BTC in volume over the past 24 hours. I definitely picked up a few XCP. An "open checkbook" from Overstock is a pretty big deal.

Read the story....Overstock hired 2 XCP devs for their own 'Medici' project (which seems to resemble CounterParty).
I don't know what the consequences will be for CounterParty itself.
Any XCP dudes in the house with some input?

That's the impression I got: Medici will be a fork of Counterparty, not Counterparty itself. [EDIT: And, as a poster down below showed, I got the wrong impression.]

Nxtblg

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Quote from: Spoetnik on October 06, 2014, 07:55:14 PM

Quote from: bl4kjaguar on October 06, 2014, 07:44:20 PM

This could have been done with colored coins. What is the advantage to reinventing the wheel?

yup fair question !

and BM was right you do know Mr. Byrne don't you lol

Only in the sense that I "know" Conrad Black. When he was still a Mr., Lord Black signed one of his books for me at a book signing event. As the saying goes, that plus a toonie will get me a double-double at Timmie's...

Nxtblg

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Quote from: EvilDave on October 06, 2014, 07:19:11 PM

http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market

This is cool as fuck, tbh. Almost every 2nd gen crypto has been pitching to Overstock this year, and it looks like Overstock/Patrick Byrne has decided to cut through all the bs associated with choosing a platform in favour of developing their own. I'd have preferred they use NXT, but, hey, you can't win them all. Cheesy

This means that we are going to see some very interesting developments for all of crypto.
If the Overstock/PB 'Medici' syatem can get SEC approval.....this could open the door for all 2nd gen crypto-currencies/asset issuance platforms, and certainly won't hurt with the adoption and use of 1st gen crypto.

I have a feeling that this project could be one of the things that drags crypto into the mainstream........ Grin

Fantastic news! Patrick Byrne, despite he being rather colourful, is the CEO of a solid listed public company. He's obviously not the lobbying type, but none of us are...and he has a lot more clout than all of us put together. Whatever he bulls through, will serve as a solid precedent for the AE of Nxt, plus the AEs of Nxt clones like NFD.

Durn right I'm rooting for him...

Bitcopia

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Activity: 715

Merit: 500

Quote from: EvilDave on October 06, 2014, 08:25:24 PM

Quote from: Bitcopia on October 06, 2014, 08:09:44 PM

I'm surprised XCP / BTC volume is so low! I thought it was going to go wild after this announcement, but we're looking at 148 BTC in volume over the past 24 hours. I definitely picked up a few XCP. An "open checkbook" from Overstock is a pretty big deal.

Read the story....Overstock hired 2 XCP devs for their own 'Medici' project (which seems to resemble CounterParty).
I don't know what the consequences will be for CounterParty itself.
Any XCP dudes in the house with some input?

I did read a story, and it wasn't clear on how Medici would be built. Not exactly an official source, but according to these folks (one of which is the moderator of the Counterparty subreddit and seems to be involved in the project), Medici will be built on top of Counterparty:

http://www.reddit.com/r/Bitcoin/comments/2iho5p/counterparty_founder_robby_dermody_hired_by/

EvilDave

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Quote from: Bitcopia on October 06, 2014, 08:09:44 PM

I'm surprised XCP / BTC volume is so low! I thought it was going to go wild after this announcement, but we're looking at 148 BTC in volume over the past 24 hours. I definitely picked up a few XCP. An "open checkbook" from Overstock is a pretty big deal.

Read the story....Overstock hired 2 XCP devs for their own 'Medici' project (which seems to resemble CounterParty).
I don't know what the consequences will be for CounterParty itself.
Any XCP dudes in the house with some input?

Anotheranonlol

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Activity: 588

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Quote from: bl4kjaguar on October 06, 2014, 07:44:20 PM

This could have been done with colored coins. What is the advantage to reinventing the wheel?

Colored coins is a square wheel compared to counterparty's round one. I've tried to issue/trade stock with various implementations of colored coins, and I've done the same with XCP. CounterParty was easier and more powerful without a shadow of a doubt. (stock issuance is just one application of counterparty protocol) There is this common misconception that XCP is required from an end users perspective, like nxt for instance - it's not the case. No proprietary token is required- just BTC is enough. You don't have to touch anything aside from BTC. I feel as if the only ones who attempt to deride counterparty compared to vanilla colored coins are those who've never actually evaluated the 2 objectively. I've been in bitcoin for a long time, long before this profile was created and this is one of the fairest and most promising projects I've ever had the pleasure of watching coming to fruiton. The developers have been paying out of pocket since inception.

XCP is a layer on top of bitcoin, the purpose is to enhance the utility (therefore value) of bitcoins blockchain - (since that's what it's built upon, and that's the kind of transactions it caters for) in just the sense colored coins would. it's not a competitor like ethereum or such

txbtc

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CounterParty
looks like a good coin and has a large community think needs more media exposure and marketing

fivebells

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Quote

The rub is that this software would require the approval of government regulators.

Bitcopia

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I'm surprised XCP / BTC volume is so low! I thought it was going to go wild after this announcement, but we're looking at 148 BTC in volume over the past 24 hours. I definitely picked up a few XCP. An "open checkbook" from Overstock is a pretty big deal.

Spoetnik

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Activity: 1540

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FUD Philanthropist™

Quote from: bl4kjaguar on October 06, 2014, 07:44:20 PM

This could have been done with colored coins. What is the advantage to reinventing the wheel?

yup fair question !

and BM was right you do know Mr. Byrne don't you lol

bl4kjaguar

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Activity: 546

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This could have been done with colored coins. What is the advantage to reinventing the wheel?

EvilDave

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Activity: 854

Merit: 1001

http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market

This is cool as fuck, tbh. Almost every 2nd gen crypto has been pitching to Overstock this year, and it looks like Overstock/Patrick Byrne has decided to cut through all the bs associated with choosing a platform in favour of developing their own. I'd have preferred they use NXT, but, hey, you can't win them all. Cheesy

This means that we are going to see some very interesting developments for all of crypto.
If the Overstock/PB 'Medici' syatem can get SEC approval.....this could open the door for all 2nd gen crypto-currencies/asset issuance platforms, and certainly won't hurt with the adoption and use of 1st gen crypto.

I have a feeling that this project could be one of the things that drags crypto into the mainstream........ Grin

Topic: Overstock and CounterParty....much news. - page 2. (Read 2627 times)