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XCP Weekly Update #5 with Robert Ross

Published on June 28th, 2015 by pooktwo

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. You can find a complete breakdown of everything discussed on this show by going to this XCPassets.org news blog or read the notes below.

Thank you to Daniel Peled for discussing the Counterparty asset GEMZ and Davinci Jeremie for discussing Colecta.

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 and Tatiana Moroz for the ending song. To tip Tatiana Moroz send any XCP asset or BTC to:


All tips and donations for this podcast will be used to better the FoldingCoin Inc project. This show is not intended for investment advice. Tip this show:


Counterparty News:

  • Chris Derose wrote an article for AmericanBanker.com making the argument that at least for the time being, the Bitcoin blockchain will be the blockchain of choice for companies looking to build blockchain based applications and they will not build on alternative blockchains.
  • XCPassets.org has released a new section: Classifieds. If you are looking for help with your project, post the task you need done. You can even notate if you are paying for the task. If you cannot pay for the task, you can still post and then XCPassets will set up a donation address for your task. So if someone goes to the site and sees a task they too want completed, they will tip the associated BTC address with BTC or Counterparty tokens. Then whoever completes the task gets the Bitcoin wallet and all tokens within it. For more information please go to XCPassets.org.

Asset of the Week:

  • This week I am joined by Daniel Peled, Co-founder and CEO of GetGems.

FoldingCoin Update:

  • FoldingCoin is still on schedule to release the beta of the online Counterparty Marketplace. Next XCP Weekly Update we should have something released.
  • Matt Costanza, our website designer, has once again decided to come join in helping build this great new site.
  • FoldingCoin Inc is paying $25 per month in FLDC to the company Cointopay.com for the integration of FLDC, LTBC, and SJCX in their online payment button. Cointopay offers a way for online merchants to accept many different crypto currencies with an easy to use payment button. Now they appear to be fairly new, and we are still doing extensive transaction testing on their system, but so far everything looks good and they are very responsive to emails.

Project News:

R.O.S.S. (Race to Open Source Space) is a small rocket being prepared by the two teams. The mission of the program is to compete directly with space operations owned and operated by the nation states and private businesses. The long term goal of this new space program is to create a peer-to-peer research service to study the cosmos. The rocket will host an FM transmitter to produce an idea called participatory proof-of-concept.

  • Tokenly released an alpha version of their Swapbot component. Tokenly is a suite of tools designed to work with Counterparty and is being built by the LTB team. It was announced this week in an LTB forum thread by Adam Levine. Already since the release, many projects have been creating Swapbots including TatianaCoin, OctoParty, WoodShares, and BitVPS.

Asset News:

  • This week we have added the asset BTCVPSCREDIT to the full list of assets on xcpassets.org. Each BITVPSCREDIT is redeemable for 1 USD credit on bitvps.com which can be used to pay for hosting and other products.

Sponsors and Shout Outs:

  • This weeks Shout Out goes to the Tokenly team. Great work on Swapbot, this is a new exciting application that can be used in many different ways. Already with this new application, Swapbot sparked the interest of VPS supplier BitVPS to create a token that represents $1 for their product, they then created a Swapbot to easily sell their redeemable token to the public. For a first release, Swapbot seems to be a really well developed tool that I look forward to using.

Project of the Week:

This week I am joined by Davinci Jeremie, Founder and Director of Colecta.

Bitcoin 2.0 News:

  • In a Bitcoinmagazine Article, it is reported that tech Startup Ascribe has raised 2 million dollars to encode artistic copyrights on the Bitcoin blockchain.

  • Colored Coins has released a new implementation that is to improve various components from core protocol to the block explorer. Please read the Coloredcoins.org blog entry.

  • There is a Coindesk Article featuring the NASDAQ’s recent announcement to integrate Bitcoin technology. The article goes into details about how NASDAQ plans to use the Open Assets protocol. Adam Ludwin, Founder and CEO of Chain.com, told Coindesk the following: “While the technology to exchange messages for trade is fast, the technology to actually move the asset and settle them is slow and very expensive. The opportunity here is to bring asset transfer into the 21st century and that’s something we couldn’t do easily before the blockchain.”

  • According to a Coindesk Article, “The Royal Bank of Scotland (RBS) is undertaking a proof-of-concept with Ripple technology as part of its £3.5bn technological revamp.”

My Final Thoughts:

Last week in the interview with Anthem I commented about another counterparty token potentially being a fraud token. In the Skype Chit Chat, this sparked a discussion on how the term I used was incorrect, as no token can be a fraud, but rather someone purchased it in a fair manner. This lead to a great debate throughout the day with two sides to this argument: is squatting Counterparty Tokens a good thing? I will have the whole transcript in a shared Google Docs, and some interesting ideas came out of the conversation. I will give the bullet point of what was discussed, but I recommend you read the whole transcript:

  • Main topic – Name Squatting: On Counterparty, this is the act of purchasing many Assets that you will simply not use, but rather hold them so that one day you could sell it to someone for a higher value. This is similar to domain squatting.
  1. Why this is bad: Possible mass Asset creation, squatters take good names just to try and make money
  2. Why this is good: Squatters protect Asset names from being destroyed, creates a market, adds value to Asset names
  • One idea was brought up during the conversation. It was suggested that it would be useful if each Asset had the ability to create child Asset’s that could be generated with a new .name. For example: Since I hold the ownership of FLDC, I could then create the asset FLDC.VOTE with VOTE being the child Asset. This would allow a project like Spells of Gensis to have any card name they would like since Wizard is already taken.

  • It was recommended that if you are going to build a Counterparty project, make sure your project name is available as a token. Even if you might not go with your original name, go ahead and grab it anyways in case you change your mind back.

  • Another conversation that was sparked was the difference between how Ripple does tokens compared to how Counterparty does tokens.

  • The conversation sparked the interest of everyone in the Chit Chat to begin purchasing Asset names. During this conversation is when Counterparty officially exceeded 20,000 total created Assets.

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