Counterparty foundation in 2019? New updates?

#52

Greetings Alan and All Counterparty participants

Hi, I’ve also loved using counterparty for years, as well as trading it on exchanges and using the DEX, and multiple wallets. These delistings seem to be catching everyone’s attention. I haven’t been directly involved in development nor even talking with other counterparty users or devs myself because also, I didn’t need to at the time or at least this is what I thought. I would just be checking the monthly updates as well. I am responding because you mention also the following:

Is there interest to come together and make a new association? If so please post here.

I want to establish an “official” new foundation, we already have the United Nations SDG Action No. 27655 for us in place already. We need to have an “official” legal body in place now. Now I am understanding deeper what’s been going on here. I was first attacked when I came along with this notion that seems to be just a frivolous idea. I knew the bad faith actors wouldn’t stop this project so I continue to aim for legal standardization of Bitcoin and Counterparty. OPEN SOURCE means we operate automatically in public trust. Therefore we will need official Trustees or advocates for this and for the specific things we need to be a standardized professional monetary service. Our trustees or advocates, who are mainly developers need to be taken care of and reciprocated for the efforts and sweat equity they put into Counterparty. Now with the United Nations SDG Action No. 27655 empowering us legally. Before I could get this information out, I was unknown to the community then while the first foundation was active still. And I was also kind of attacked for mentioning the project we are making progress on now. We actually have seen this issue years ahead. Now the SEC is creating Templum Markets for crypto regulations but has been slow to it. We actually established the World Group of 27 within the United Nations special agency, an Intergovernmental organization called the World Leaders Forum that has set the smart regulations in place for each nation as a global regulator. This is where the new foundation comes in and having the governmental regulatory authority as the new Global Securities Exchange Authority; and direct registration system DRS as the smart regulator on and using the blockchain through our United Nations Consultative status with the IGO World Leaders Forum and others who are behind and support us. How do Central Counterparty Foundation and Central Counterparty Fund or (Central is optional) Counterparty Trust sound for a new name for the foundation?

GOVT REGD NO RJSC/DISST RWP/F-3613/223/2013
Consultative Status UN NGO/IGO BRANCH

Best regards,
World Chaplin
Hon. Larry Shelton

3 Likes
#53

Sounds great, looking forward to that proposal. Would be great for multiassets/alt coins . I’m curious if you could use even usdt or similar for in/out of a federated chain?

1 Like
#54

Hi chiguireitor, first of all thanks for all your work as XCP dev, I really appreciate the effort you put into it no matter the circumstances c:

Have you had any chance to talk with Bittrex yet?

Regards

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#55

Agree, why he does not give any updates on this

#56

It is disingenuous to measure the effect of the technology by only the liquidity of the anti-spam asset. There are several projects in their own right with their own market cap that use the base technology. These need to be combined in order to get a more accurate view of the tenacity in which we are dealing with. These tokens maintain their placement on the various exchanges that they built themselves into. Having this XCP token not on exchange in fact can make it more enticing, as it’s harder to get a hold of. There is merit to an asset which is not manipulated by a central exchange but who instead relies on its own decentralized platform on a protocol level.

When each copy contract is made on ethereum, the forger manages to secure venture capital to back the rhetoric, not backed by code. The positioning that CounterParty has created makes it very powerful for a resurgence, in that it has a strong core. CounterParty is like “old money” where these fly-by-night contracts are “new money.” Some say it takes 10 years to become an overnight success. This community is laying a strong base of usage and now needs to reorganize. Evident most is the need to band together and act more like a cohesive unit in the face of adversity.

The most core directive of any action should be using our own technology in a way that can be replicated by other people who want to use the same mechanisms but with this shared tech. There are many options for the usage of other assets within the system and for that matter. Created in the open market the commonality of these successful CounterParty projects is that they have met the requirements of the exchange. For example: FDLC is backed by a 501c, PEPECASH is whitelisted by some kind of Japanese report organized by their government, and the owner of Bitcrystals follows local ordinances as well. Having the established organization allows outside organizations to responsibly contribute to the well-being. Without that accountability, through normal business procedures, it is not likely to find others to adopt usage. One of the long proven facts of crypto-world is that there is little to no actual lasting value in launch. All the value of any project is in maintenance of the system. When the foundation was dissolved, xcp became abandonware, but has not been deserted.

After having a chance to catch up with the ideas that are listed in this thread it occurs to me that some of the things that I have on my itinerary or personal objectives for the protocol are not on people’s radars. I have come to a point in my career where I understand the value of creative awareness over code or funding. The ideas in store for us are not to be shared in a place where new projects willingly steal any innovation that we put in the queue. Taking the code and being the new leader does not make a new successful standard, but stifles the strength and tenacity of all involved.

Privately, an active and experienced group of people need to decide what is implementable and need a way to test and code before the prying eyes of the parasites in the general market. There exists a strong need for an organization to facilitate the open source project while concurrently having its own ways to use the project to make money. The problem where every other project losses is the inability to act for the good of everyone in the protocol. While some players in our organization do contribute tirelessly, they also need to be adequately rewarded for their efforts. Consequently their constructing of private solutions to remedy public needs don’t overcome existing barriers as they have self justified.

While I wish the opposite was true I do not have a significant amount of XCP. However that makes me more of an objective person in that I do not have vested interest in using it as an investment tool alone. I cannot profit directly from the appreciation in the trade value of this token. Therefore, I have a somewhat objective stance when it comes to proselytizing the technology or onboarding new users, in that I am an advocate and heavy user and not a speculative investor. This changes my narrative context to make recommendations more justified.

Most of all people come out of the woodwork as the price manipulates on the exchanges only to declare their intention of driving from the back seat. In all of cryptocurrency the message usually spoken of these people is to rebrand and get a new website. Fact of the matter is that this organization is not ready to onboard users en masse. There are several players in this environment who depend on this infrastructure but are taking it their own way. There needs to be a simultaneous effort in creating standardized access. It is shameful that the official wallet is so far behind. This shows, in combination with lack of GitHub updates, how little people are actually pushing developments upstream. This kind of lack of movement is one of the things which leads newcomers away. They are interested for longevity, and is not overly apparent here. CounterParty has been, for the last year-and-a-half, very different in action and potential than has been publicly understood. This burden is not being taken seriously in order to facilitate adoption. There exists a strong need for an organization whose sole purpose is to focus on making CounterParty cutting edge again. While also concerning itself with responsible use in that developments made are not only enabling end-users, it is important to facilitate adoption for mid-level actors.

I’m at a point in my life where I know what my strengths and weaknesses are and have been seeking to surround myself with other responsible individuals whose talents compliment mine so that all of our powers together can lead to greatness. It’s not just about having a qualified and talented developer on staff. It’s also about teamwork, camaraderie and some people getting their head out of their ass. I’m probably one of those who’s piloting my donkey from the wrong side.

This platform represents free speech on so many different levels. I can’t even begin to convey the importance of consensus being continued. It seems apparent now that confluence must be coordinated. I got some cheat codes that I need to activate; only when we’re on the right stage, only when we have the right team and only when they can make a difference. So, here I am letting my soul into this response and telling you that I am running for whatever governing body you decide. Concurrently, I am going to continue as planned and starting my own US based crypto company to facilitate the adoption of CounterParty through technical support and upstream development. I progressed most of the way through my marketing degree. Far enough to realize that I’m no accountant or lawyer and that both of those are needed to start any decent organization. The exactitude of which is even up for debate but to remain private until already completed.

We can use the specifications above (things John outlined) to hire any developer who might be competent. To most, it doesn’t matter if they’re interested as long as they get paid. It would be great if community members who are already super active and qualified would be the first to apply to receive the funds in whichever relationship is available via employment contract or bounty.

I might not be able to deliver the most coherent message as my long winded thoughts tend to get cut-up and sequence isn’t my forte. However I’ve got a furnace in my gut and it’s fueled by cryptoart who’s most qualified home is CounterParty.

At this point if you actually read all of this you might be asking what separates this author from any other user in the thread or on telegram besides unique harebrained ideas. The answer is travel. I will meet you anywhere in the world (allowable to US citizen). You can sign an NDA and we can get elbows deep. I’m also willing to relocate for the purpose of securing the future of CounterParty. Interested in being part of the new topic post before it is made? Please message here, t.me/wampum or duncan@speak.tech

TLDR: Great ideas, I have some too. But the project still needs leadership. My intentions are to start a US company/organization whose focus is CounterParty tech and adoption. Unofficial or not, is up to the number of other community members who want to join forces. The intentions are to privately gather strength in cooperation with existing users to compete again in the open market.

2 Likes
#57

The Bittrex XCP wallet only has half as much now at 420k XCP. Ten more days of allowable withdrawals, then who knows what they’ll do with the remaining balance. Interestingly, they are paying over $4 in BTC fees to send people their XCP, and their fee is 0.2 XCP for withdrawals. They’ve spent over $1,000 to send customers their XCP. Future exchanges need to keep BTC rather than XCP when withdrawing to compensate for the miner’s fee.

#58

Or just use less BTC on withdrawal. 10 sat/byte should be enough = $0.2 for a 250 byte transaction.

#59

It should be enough, but it isn’t always. If timing isn’t an issue, I will roll the dice with 1 sat/byte, but exchanges don’t want to leave their customers’ funds floating in a mempool for hours on end. When making a withdrawal, the customer should be able to specify the priority of the transaction and pay the corresponding fee. Otherwise, the exchange is on the hook for all of the fees paid, ultimately losing money by hosting Counterparty.

#60

Or they could calculate btc transaction fee needed and subtract that from XCP value.

#61

This resulted in Poloniex taking 16 XCP fees…

#62

This is unavoidable for a token based on Bitcoin. Except Bitcoin establishes the lightning network resulting in low fees for transactions. Which automatically would provide also low fees for counterparty

#63

Using Sidechains will slove the issue for now.
*Sidechains just delay problems for remember it is a blockchain just with more scaling due to you knowing being a sidechain. If a trustless peg comes, sidechain will even be more useful.
But for now their is https://www.hazama.indiesquare.me/

I assume Counterparty can use the tech behind this as well(when its made):

#64

There have been a number of suggestions regarding raising funds for development.

Would it be possible to do another bitcoin burn, with the resulting XCP to be held in a fund allocated only for development activities?

One concern with creating additional XCP is that of dilution. This could be mitigated to some degree by making the burn preferentially available to existing XCP holders.

If companies with a bit more cash in their coffer could be convinced to take part in the burn, they might also be willing to support development directly and indirectly through providing industry connections and promotion.

Fisco seems like a potential candidate:
*Fisco is a publicly listed company in Japan.
*Fisco now owns ZAIF, which lists XCP, Pepecash, and Bitcrystals.
*Fisco clearly has an interest in growth in utilization and liquidity for XCP and the tokens running on XCP (Pepecash, Bitcrystals, etc.)

There are probably many other companies that would be interested.

One other issue is how to determine the BTC/XCP exchange rate. Zaif is the only exchange now and due to the low liquidity, price could be manipulated in advance of the exchange rate fixing.

Any thoughts?

1 Like
#65

As a side note, I live in Japan and I have accounts at both Zaif and Fisco. I have done enough transactions through both companies that the door could be open for me to help in communication with Fisco on this topic.

Given its history and real-life use cases, Counterparty is extremely undervalued, and if I were a publicly listed company and saw the opportunity to gain a significant stake in the project at this level, I would listen seriously.

Cheers,

1 Like
#66

Forgive my mistake, but if the BTC are burned and the resultant XCP are allocated to the investor, there will still be no additional funds for development.

I imagine it would be necessary to issue new XCP in exchange for BTC, which would be held as a development fund (rather than burning the BTC).

#67

It seems the general consensus here is that the community would like another CP foundation election.

Here is a link to the announcement of the new CP foundation election.

2 Likes
#68

Pretty cool to see one back.
The Foundation needs to bring more revenue funding either via XCP inflation, Fees earn per tx in a sidechain or membership fees?
Donation work but are not fully sustainable.

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#69

I imagine some sort of block inflation. Like for every 4000 bitcoin blocks a certain amount of XCP are generated.

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#70

Although I am not familiar with the hard realities of programming/coding, I am sure that the main contributors to Counterparty have donated an amazing amount of time and effort to furthering the project.

However, at some point there needs to be more funding to support the growth of the project in a more robust way.

Hopefully the new Foundation will find the best combination of financial inflow (new funds for development), fairness to existing XCP holders, and consistency with the original project concept (this last point is probably where compromise will be needed in the form of XCP issuance or inflation).

2 Likes
#71

This is true but at this point almost anything might actually benefit XCP holders