Counterparty over Peercoin?

General
21

I support haveing a counter party on peercoin, as long as it does not lead to much peercoin blockchain bloat.

It should not be called peerparty, as the counter is the descriptive part needed before party to explain what its.

it should be called something like counterpartypos (cpp) <—> (ppc) or

countrpartypeercoin or

counterpartypeer

being first on this would be excellent, we may also get the added benefit of a Turing complete function as well, being two firsts for peercoin.

Peercoin was the first pos, and it is in keeping with peercoin being first.

The ecology of peercoin is good, and has several strands to it now, unlike most other coins.

Blackcoin does not worry. nxt however is very good, though I see it as a different proposition to Peercoin. Peercoin is a laser like single action at backbone, which as I have reapeatedly said is something most cryptocoins/btcers just don’t get.

All they understand in muh amazon/paypal/ebay, when retail is a miniscule part of the economy value. So far almost every adoption in retail has seen no increase in price, if not a drop. I don’t blame BTCers/ Crypto’s for this as people have been educated from birth by omission and Fait accompli the state project about money.

This the reason peercoin still has not one competitor as people just don’t understand what it’s aimed at. Central banking and money markets understand the need to move huge sums without any thing else and when they come the with choose to use peercoin, as it stands head and shoulders above anything else.

Another part of the problem is people struggle to understand the implications of boundary conditions on the same system, ala the navier stokes equations.

SK has understood this by so carefully picking the initial conditions.

NXT will be an excellent swiss knife and solve many problems. As I understand it Counterparty can be a almost separate operation to Peercoin, only as small imposition.

NXT faces serious competition from NEM.

22

Counterparty over POS coin is interesting indeed.

One thing i would change would be the initial coin distribuition.

Instead of doing proof of burn, or prove of donation, we should
make the counterparty token be available to every peercoin holder
at block N.

And maybe some small bonus every X block afterwards to encourage ppl to hodl peercoin than dump it after xcpeerparty distribution.

Not sure if ppc already upgrade to OP RETURN which would make it cheaper tand less bloat to broadcast xcpeerpaty tx

23

If we do decide to go ahead with this, maybe we should wait until there is at least some sort of interest from a developer before starting fundraising? Hopefully that could avoid a similar situation to the mycelium and omniwallet projects, where lots of donations have been given but not much development is happening.

24

Last thing I heard about that (which was a while ago) Fuzzy was waiting for an update from one of their devs. Any update on these projects Fuzzy?

25

Interesting thread indeed.
I googled a bit what XCP is, turns out all ‘colored’ data counterparty stores are put in the very same blockchain without any need for a side chain and I quote:

‘The data may also be stored in OP_RETURN outputs or as fake pubkeyhashes.’

The components that accesses the chain via bitcoind are counterpartyd and counterblockd. So to port this you mostly need to replace bitcoind with peercoind. Which I believe is already in the pipeline, no?

26

Peerparty(XPP) will do. This is something that could be handled by S3 Labs or Storj Labs. I have a lot of contacts in the Counterparty space(being the 2st largest counterparty asset and all), and I think most of them would support this. To get this done we need to have significant resources to hire a full time developer or two. The most I’ve seen raised is 6k PPC which would get used in a single month for a good developer. It might be a good idea to get some funds together and solicit a spec/whitepaper.

27

Alternatively, Counterpeer makes it more clear that it is a re-creation of Counterparty as opposed to what sounds like a discount novelty store for party favors (Peerparty). A counterparty by definition is “the other party that participates in a financial transaction.” A counterpeer isn’t far off from the original spirit of the name. My preference could be in the minority of course.

I’m willing to contribute PPC to this project, and to provide consultation on establishing branding elements for it. I’m currently involved with branding and communications for NuBits. This seems like a very lucrative development opportunity for the community.

28

Here’s another suggestion.
PeerOTC

OTC as in Over-the-Counter ( http://en.wikipedia.org/wiki/Over-the-counter_(finance) )
Since there isn’t any exchange or regulatory body, I think its kind of (not bulls eye) describing what’s it all about.
Totally not descriptive for people unfamiliar to finance lingo.

Maybe…
PeerToken
…is better since its used for creating tokens on top of Peercoin. Doesn’t really capture the whole Etherium script capability thing though.

29

[quote=“TomJoad, post:27, topic:3079”]Alternatively, Counterpeer makes it more clear that it is a re-creation of Counterparty as opposed to what sounds like a discount novelty store for party favors (Peerparty). A counterparty by definition is “the other party that participates in a financial transaction.” A counterpeer isn’t far off from the original spirit of the name. My preference could be in the minority of course.

I’m willing to contribute PPC to this project, and to provide consultation on establishing branding elements for it. I’m currently involved with branding and communications for NuBits. This seems like a very lucrative development opportunity for the community.[/quote]

I thought of Counterpeer as well and really like it. It makes the most sense to me. Peerparty sounds exactly as you described it, some kind of party shop. What do others think of Counterpeer?

By the way, glad to have you over here TomJoad. I’m sure you’re aware, but I’ve been responsible for having all of our logos designed, Peercoin, Primecoin, Peershares, Peerunity and Peerbox along with help from the community. I’ve tried my best to make sure our branding is consistent, all logos either using the Peercoin P or at least using the leaf symbol as Peerbox did. All the font is the same as well and includes the little leaf on one of the letters. Look forward to hearing your ideas.

30

[quote=“Sentinelrv, post:29, topic:3079”][quote=“TomJoad, post:27, topic:3079”]Alternatively, Counterpeer makes it more clear that it is a re-creation of Counterparty as opposed to what sounds like a discount novelty store for party favors (Peerparty). A counterparty by definition is “the other party that participates in a financial transaction.” A counterpeer isn’t far off from the original spirit of the name. My preference could be in the minority of course.

I’m willing to contribute PPC to this project, and to provide consultation on establishing branding elements for it. I’m currently involved with branding and communications for NuBits. This seems like a very lucrative development opportunity for the community.[/quote]

I thought of Counterpeer as well and really like it. It makes the most sense to me. Peerparty sounds exactly as you described it, some kind of party shop. What do others think of Counterpeer?

By the way, glad to have you over here TomJoad. I’m sure you’re aware, but I’ve been responsible for having all of our logos designed, Peercoin, Primecoin, Peershares, Peerunity and Peerbox along with help from the community. I’ve tried my best to make sure our branding is consistent, all logos either using the Peercoin P or at least using the leaf symbol as Peerbox did. All the font is the same as well and includes the little leaf on one of the letters. Look forward to hearing your ideas.[/quote]

Thank you. I’ve been a lurker for a long time and at one time had a sparsely-used account here under a different name, so I’m very familiar with your great efforts in building the Peercoin brand. If we manage to get Counterpeer (or Peerparty, or some other variation) development underway I would be happy to contribute ideas/feedback to whatever community-led creation process you lead.

31

Counterpeer sounds good to me :slight_smile:

32

I’m also more like CounterPeer or better PeerAssets.

Anyway there is a Counterparty whitepaper here: https://github.com/CounterpartyXCP/Counterparty. Just rewrote it for PeerAssets while I was looking at, so I could identify any issues.
It needs some adjustments around the fees as we have fixed fees. Let me know if you have ideas and I will give you access to the repo so you can make changes to the whitepaper.

When the whitepaper is finalised we need someone to make an estimate. I hope super3’s connections can help at that stage.
I’m assuming enough interest to at least get to a stage where we are ready for fundraising.

33

From what I understand Bitcoin Counterparty, basically is a decentralized/distributed exchange for trading tokenized assets.

If this is true, why wouldn’t we call our version “PeerExchange” and get rid of the counter and party altogether?

People recognize BTC-e as an exchange. They recognize Cryptsy as an exchange. Having a decentralized PeerExchange makes the most sense to me…

I also believe that the way to gain wide adoption is for these possibilities to exist (in no particular order)

– watching trades happen on a centralized website is important for those that haven’t installed the PeerExchange wallet, so they can see the volume without firing up the client, waiting for nodes to connect and sync, etc. Any one can run the open source “PeerExchange viewer” on a website, almost like block explorers for any coin do now. Blockchain.info is a good reference of what I’m talking about. Some thing similar for PeerExchange too…

– having existing centralized exchanges be part of the non critical design to encourage them to advertise things like “Cryptsy is now part of PeerExchange, for more info, click here…”

If you don’t eat the big exchange’s lunch, but instead, invite them to participate on some beneficial level, they’ll do all the marketing for you. Just because PeerExchange CAN be a competitor to traditional exchanges doesn’t mean it should shut them out.

If your solution invites every one to participate on different levels, you’ll get a bigger adoption rate.

Where I’m going with this is the think-outside-the-box mentality.

Bitcoin CounterParty basically created their own box, and said “hey, use us for this… Look! We’ve got Ethereum like code in ours too, now you don’t need Ethereum”

That’s a shutting out mentality that rewards the existing XCP holders, and tells other people, oh? You want to buy in now? Well you’ll buy XCP at a higher rate than we got ours for…

–

I prefer to not find ourselves creating a PeerExchange box, and go “hey! We’re POS CounterParty. Leave that POW chain for ours, and trade the exact same things here!” …and thereby shutting out existing XCP holders and existing exchanges.

…simply because they won’t leave, not unless there is no choice but to leave.

That starts off on a bad, selfish premise any way. I think we need to take the industry as it stands now, and see how we can incorporate the majority of people / exchanges / etc, into our system so every one gets a chance to participate without leaving any one behind.

34

How do the Counterparty devs make money? I’m not very familiar with the specifics. Apart from the increase in value of any XCP they hold (which required initial investment) do they charge for helping people set up assets? I hope there is a more sustainable way to provide incentive for a Peercoin version than requiring constant donations.

I guess one option is to offer some of a Counterpeer (or whatever it is called) premine to developers, but that might not be received well by the community since Counterparty and Dogeparty (I think) were completely PoB.

35

I actually had Super3 purchase peerexchange.io for us back when we were talking about decentralized exchanges, because I figured one day we’d need it for something. I got .io because .com, .net and .org were already taken. If the community decides to go with this name then it’s already available for use.

Counterparty uses a .io address as well in case you’re hesitant about that.

36

How do the Counterparty devs make money? I’m not very familiar with the specifics. Apart from the increase in value of any XCP they hold (which required initial investment) do they charge for helping people set up assets? I hope there is a more sustainable way to provide incentive for a Peercoin version than requiring constant donations.

I guess one option is to offer some of a Counterpeer (or whatever it is called) premine to developers, but that might not be received well by the community since Counterparty and Dogeparty (I think) were completely PoB.[/quote]
I can only see one model for devs to earn some money. Just put a ‘tax’ on each asset (e.g. 1%), where the dev gets a fixed one-off percentage of any asset created. The more assets and the more valuable they are the better for the dev. That will likely motivate the dev to keep the network in good order and make continous improvements to attract new asset owners and with that more value.

37

Alternatively, Counterpeer makes it more clear that it is a re-creation of Counterparty as opposed to what sounds like a discount novelty store for party favors (Peerparty).[/quote]

Just had to say that is hilarious.

38

Outside professional financial and crypto world the word “exchange” gives me the impression of shady discount stores for surplus stuff. When I was into photography peopple warned me of any equipment store that had “exchange” in its name, especially if it is located in NYC :)) But PeerEx isn’t that bad.

39

How to convey the purpose and value of Peercoin in a single sentence was one of the things considered when peercoin.net was updated. Chronos and I came up with the following:

“Peercoin seeks to be the most secure cryptocoin at the lowest cost, by rewarding all users for strengthening the network”.

40

I prefer either PeerAssetts or PeerExchange

“Counterpeer” sounds too similar to Counterparty. We need to have our own identity