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XCP Weekly Update #12 - BitcoinXT Released

Published on August 16th, 2015 by pooktwo

Weekly Update #12:

Robert Ross is a Counterparty Foundation Community Director and the Director of FoldingCoin Inc. Each week Robert and various guests will bring you the news of what has been going on in the Counterparty communities and also touching base on the other Bitcoin 2.0 communities.

I am happy to announce the ability for paid sponsorship’s. I accept any Counterparty Token that is on CoinMarketCap.com in addition to TOPFOLDER tokens, please click below

Thank you to Chris DeRose and Joshua Unseth for the chit-chat recap of the week. I am looking into finding a permalink so you can simply click here to join the chit chat (an admin setting in the channel needs to change), but in the meantime please tweet @derosetech and he will grant you access.

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.

Thank you to

Please join in the discussions on the forums at letstalkbitcoin.com and counterpartytalk.org

All tips and donations for this podcast will be used to better the FoldingCoin Inc project.


This show is not intended for investment advice.

Counterparty News:

  • Counterparty's Ivana Zuber will no longer be working on the Symbiont platform and will be rededicating her free time back into the Counterparty project.

  • A discussion about the possibility for counterparty to integrate for payment channels, or the lightning network, is taking place on the Counterpartytalk.org forums. Community Director Devon Weller had a great response to this, but please read the whole thread as the conversation continues on:

The problem is that you can't escrow counterparty tokens in a nLockTime bitcoin transaction. So, say I have balance of 100 TOKENLY in my account. I create a bitcoin transaction with an embedded send of 80 TOKENLY from me to you with an nLockTime of 2 days from now. You might think you have a guarantee of those 80 TOKENLY as long as no one double-spends the UTXOs in that transaction. But you don't. Here's why. While you are waiting 2 days, I create another transaction from my same address and send all 100 TOKENLY somewhere else using different UTXOs than the ones wrapped up in the nLockTime transaction. So what happens in 2 days when the nLockTime transaction gets mined? Well, you get the BTC dust. But the counterparty daemon will check my account balance and see that there are 0 TOKENLY there. So, the counterparty transaction will be resolved as a send of 0 TOKENLY from me to you. Is it possible to modify counterparty server to be aware of nLockTime transactions and hold funds in escrow when it sees a broadcasted nLockTime transaction? Possibly. My instincts tell it me it is trickier than it sounds. I think smart contracts are also a viable solution to this problem. A smart contract could (theoretically) hold the TOKENLY in escrow and then send them along when the original transaction gets pushed to the blockchain, or refund them if it does not.

Project of the Week:

Project News:

  • The FoldingCoin community is currently discussing a proposal for a promotional FLDC payout for those that have folded multiple days. Please read the BitcoinTalk ANN thread for more information.

  • Shop.FoldingCoin.net is now allowing anyone to post items for sale during this beta launch. During this initial launch, when an item is purchased the funds will go directly to the seller so it is a buyer beware situation right now. The next step is getting a rating and escrow system working so that way sales will have a facilitator for each transaction. For more information, please visit Shop.FoldingCoin.net and click "Post an Item" in the menu bar.

  • Storj Labs is getting very close to launching the Test Group B Storj participation with the ability to store data and earn SJCX. In a recent Storj Labs blog post that covers a step by step setup guide, the following is stated:

We are nearing the launch of Test Group B and are currently running a preliminary test. Note that you will need 10,000 SJCX in your address to receive any rewards for this test. Crowdsale addresses can participate with any amount of SJCX but for full rewards they will need a balance of 10,000 SJCX or more. More details on rewards to follow.

  • Spells of Genesis has now announced extended goals for the BITCRYSTALS crowdsale since the total BTC needed has already been raised. The first goal of 730 BTC has been raised to create the game, if 1150 BTC is raised, then multiplayer will be added to the game, and if 1550 BTC is raised then Smart Contracts will be added to the game.

  • Shaban, Nicola, and myself took part in a panel discussion about Spells of Genesis and trading card games. Check out the Start Up show on the LetsTalkBitcoin network to hear the discussion.

  • The guys at insatoshiwetrust have released a new website called SOGassets.com which provides a list of every SOG card in existance right now. Its a great table with tons of information about each individual card.

  • Tilepay, an internet of things company that is using the Counterparty token TILECOINX to power their network, has just released their first newsletter. In the newsletter the following is stated:

Our overdue Newsletter is here. Thank you for your patience. We have been working hard on developing a long-term strategy that will enable us and others to build out the Internet of Things ecosystem. We will be in China for a few weeks to take part in a "Smart Building" International Startup Contest to show case specific use cases that can be implemented using Bitcoin and "Smart Contracts".

  • GetGems released a Medium article discussing how fraudulent activity is handled on the GetGems mobile application.

  • Tokenly has released a new lookup tool http://tokenrank.tokenly.com/ which will display every Swapbot available on the internet. This is currently a prototype but its nice to be able to find all Swapbots in one place.

In the Community

  • LTB network user Andaloons has accidentally sent around 0.9 BTC to the wrong address. He stated the following on the LTB forums

Somehow I sent 0.09115 to what I thought was the SwapBot address but it turned out to be another person's address that had JUST PURCHASED an Ethereumcard from the SwapBot. If you have a nice new shiny balance of 0.09115 at your address would you be so kind as to return it to me??

Shout Outs and Sponsorship's

  • No sponsors or shout outs this week, so I would like to take the opportunity to talk a little about XCPassets.org. FoldingCoin started XCPassets as a way to get information and links to any and all resources in the counterparty community. Recently I have redesigned it to fit the needs of the feedback I have gotten so far. I think it is coming along nicely but I would love more feedback from the community on the design and what else we could be doing to improve it. If you havent seen it yet, please head over there.

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