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XCP Update 11/15: Art and Tokens

Published on November 15th, 2015 by pooktwo

This show is not intended for investment advice.

Episode 22

In the original release of the podcast I announced a Counterparty Development contest. This is still proposed at this point and I apologize for announcing early. More information will be available as soon as its ready.

Counterparty News

  • Counterparty released a community update on November 7th. In the update the following is stated:

We’re excited to report we’ve released new versions of counterparty-lib and counterblock. In other news from this week, our community director Devon Weller is continuing the work on the Counterparty Improvement Proposal (CIP) and proposed CIP 2 – Counterparty Payment URI Scheme. This week we also made some changes to the counterparty.io website to reflect the latest developments in the community. Instead of featuring Counterwallet as the main and only Counterparty wallet, we’ve added a new page ‘Counterparty Wallets’ to list all three main Counterparty wallets: the web wallet – Counterwallet, the mobile wallets from Indie Square, and the Chrome extension wallet – the Tokenly Pockets and updated other parts of the website accordingly. Finally, in case you missed our last week’s update, we’ve opened our internal Slack channel to the public and created an official Counterparty Slack channel. To join us visit this link and create a new account.

Counterparty is a platform for free and open financial tools on the Bitcoin blockchain. Currently the most important use of Counterparty is to issue and trade stocks in a decentralized way, or to issue and facilitate a new cryptocurrency. The Counterparty platform has high potential to become a leading platform for decentralized autonomous organizations and smart contracts because it uses the Bitcoin blockchain and it now intends to copy the Ethereum code to their platform. Several well-funded startups with impressive teams are currently developing their product on the Counterparty platform, resulting in an expected boost in usage of the platform in the near future. The price of Counterparty’s cryptocurrency (XCP) is at an all time low now, given a lack of significant recent news or hype. Conclusion: potential upside is high and valuation of XCP relatively low, so this is a good time to invest in XCP

Today's Guest

Project News

Quick XCP purchase - Through ShapeShift APIs, you can now purchase xcp easily with btc within the wallet. Use XCP to issue a new token and trade Counterparty tokens on the Dex from IndieSquare Wallet!

Easier registration process - You no longer need to enter a password to use IndieSquare Wallet. Just by rubbing the screen for a few seconds, you can create a new account easily and securely. If you already have a 12 word passphrase from anywhere else, you can now enter it word by word for smoother login.

Overall performance improvements. We are aware that some accounts have trouble creating new transactions including issuing a new token. We've been looking into this and will solve the issue as soon as we can. Thanks for the patience!

  • Woodshares has released their first voting test process. You may click the link in the show notes for more information, but the following is stated in the press release:

Taking in consideration some recent factors like the high price in Bitcoin and the high price of the US Dollar official rate in Colombia and given that the first stage of the project needs investment in this country in COP (Colombian Peso), we present the proposition to put on sale and exchange the Bitcoins of the Woodshares project to Colombian Pesos to take advantage of this current conditions. Being WoodShares a DCO project, this proposal and the decision of selling or not, will be taken by the members of the WoodShares community; therefore, we will take advantage to take the opportunity to make a voting test, using the Counterparty platform.

  • Two weeks ago, 5,000 XCP addresses all of a sudden received 10 tokens with the name of GUERILLA. This was a mystery and many wondered why these had been sent out. On November 2nd community member Dan Droplister revealed that he was the one that did this. On slack he stated the following:

If y'all remain confused about what GUERILLA is, I made it. I tweeted about it. I just noticed that for short money I could do like 5000 transactions and hit the toplists in short order. So, I pulled a list of the latest 5000 active bitcoin addresses from counterpartychain.io, and I spammed people 10 GUERILLA using quickmacros.com + tokenly pockets. It was mostly for the lulz. And then I figured, if I'm gonna get into this toplist, I might as well throw in a survey to see how many people responded / what they said. I called it GUERILLA because I assumed people would realize that it's "guerilla marketing" / spam. There's no plan beyond that. It did make me wonder though because I was able to out on-chain transact MOST of the assets in Counterparty with 6 hours and like 0.75 BTC. So, I imagine that means a lot of Counterparty transactions are happening on exchanges only (pure speculation) or not at all. And it got me thinking about how people distribute their tokens, because it's pretty cheap to send every single active counterparty address a token. It cost me 0.75 to reach 5000. It would cost like 7 times that to reach all addresses? But I'm sure I made a lot of OCD people really mad, so I'm sorry for that. But the survey has been pretty interesting, I'm not like a pollster, so my questions may not be very scientific or anything. But around 1% response rate (assuming every address = 1 person, but it's likely much higher / people found it not through the GUERILLA I sent them, but from XCP explorer websites) - mostly males, mostly 25-44, kind of from all over, but centers in US and Europe, a surprisingly diverse amount of education, and what I would consider a really out-sized portion of self employed people. And while most of them think XCP will succeed, most of them report that their own friend group knows nothing of XCP which makes me wonder why they think it will succeed if they're not evangelist enough to make their friends know about it.

  • Community Director Chris DeRose and his partner Junseth are starting a project titled BRODO and are looking for their funding via angel investment. On the project page, the following is stated:

Brodo connects buyers and sellers to products and services listed on the Bitcoin blockchain. We're building an open, and pseudonymous marketplace on the world most uncensorable data store. Information about listings, purchases, invoices, and reviews are encoded on the blockchain. Brodo organizes and makes this information searchable. Our reputation analysis technology helps users identify trustworthy merchants. Buyers and sellers can communicate confidentially using an anonymous and encrypted chat client that routes messages through the Bitcoin blockchain. Brodo stores no user information or funds. All regulatory requirements are the responsibility of users. Transactions are encoded in the blockchain using the open source "Drop Zone" protocol. Our mission is to create a global market where everyone can exchange goods and services. Brodo charges a 4% fee on all transactions.

  • Community Member JPJA has released a new tool on xcp.pw called the "Bulk Register Assets." You must save the program locally on your computer and set the parameters in the source code, but this program will allow you to register many assets at once.

  • GetGems released their community update number 18 and the following is stated from this update:

It has been some time since our last official blog update. We are on a variety of channels such as facebook, twitter, bitcointalk, telegram chat groups, and more, where we answer all your questions about the developments being made by the GetGems team. Here in this blog, we summarize this information and introduce news in more detail. We have begun testing the Daily AirDrop functions for Android and iOS. We are starting with a smaller total daily airdrop amount to test the algorithm and distribution. The aim of the airdrop is to grow the activity of the GetGems network. The organic adoption of GetGems is growing at approximately 27% per month and we anticipate that will increase substantially with the AirDrop incentive. Please keep up the great work everyone! The GetGems Android app has been updated with three tabs instead of 4 creating a more intuitive interface and organizing the screen into a cleaner look. We also moved the Sticker Shop to the Sticker keyboard inside of chat. We were very pleased to have made the top 11 list out of over 11,000 applicants to the prestigious 43North in Buffalo and made this presentation for the finals on October 29th. PayKey was created by GetGems and is a patented system that enables payments to be made within social networks’ chats including Facebook’s Messenger, WhatsApp, SnapChat, Twitter etc. Leveraging these existing networks creates a simple and intuitive payment experience. PayKey enables the ability to transfer cryptocurrency (gems/bitcoin) and fiat money (USD, CNY, etc) within any social network. We are very exciting to be creating the GetGems Desktop Client and anticipating its release before the end of November.

We are pleased to announce our next partner in the Merged Folding platform, and thats Block Label! Block Label is a project for artists from anywhere in the world to easily get their music on digital platforms and services (e.g., Spotify, iTunes/Apple Music, Tidal). Using blockchain technology, Block Label distributes its profit to artists by the amount of tracks they’ve contributed. In other words, artists own a share of total profits generated by Block Label. Block Label utilizes the blockchain to give artists ownership of profits by using the Counterparty protocol. Artists receive a “Block Label Token” (a token that represents a share of profits) for each track they upload/add to the catalogue. This token works as a tool for the artist to receive their payment over the Bitcoin network. Fans who have “Fan Tokens” will also receive a share of profits. 100 FANTOKENS will be calculated each day for merged folding participants.

  • I am also currently redoing the FoldingCoin.net website and things look a little weird right now, but once its done it should look really cool and a lot easier to navigate.

Shout Outs and Sponsorship's

  • None this week


The end of this year is going to be busy for me with the holidays coming up, so for the time being I will be moving to every other Sunday until the holidays are over. So now look for the next weekly update on November 15th.

Please contact me [email protected] with any Counterparty projects you are working on, with suggestions to feature them on the show. Or contact me if you would like assistance or advice on how you can create your project on the Counterparty platform. I may not be able to answer your question or help your project, but I will do my best to find the person who can.

If you are an independent artist and would like to hear your song on this show, please email me at [email protected] and we can arrange something. Thank you to Cyrus Youngman and the Kingfishers for the audio segways.

Please join in the discussions on the forums at theLTBNetwork.com and counterpartytalk.org. Also join the official Counterparty Slack channel for real time conversations.

All tips, donations, and sponsorship payments from this podcast will be used to better the Counterparty Foundation.


This show is not intended for investment advice.

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