This weeks episode is sponsored by Tokenly – an open source company building tools to make tokens more useful and usable to everyone
Weekly Update #6:
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.
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 Koji Higashi for discussing the IndieSquare mobile counterwallet
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 Zhou Tonged for the ending song "Price Down, Pick Up!" a bitcoin remix of "Turn Down for What" by DJ Snake and Lil Jon. You can check out their YouTube channel for tons of songs about Bitcoin each having thousands of views.
All tips and donations for this podcast will be used to better the FoldingCoin Inc project.
This show is not intended for investment advice.
- The Counterwallet servers tend to go down from time to time, sometimes this effects the ability to login to counterwallet.io. Last year this was a problem. A lot of the times on the forums and skype chats I see people wondering when the servers will be workng again. I would like to remind everyone that now there are alternative solutions. The first being counterwallet.coindaddy.io which are identical Counterwallet servers hosted by JDogs Coindaddy. If you ever cannot access Counterwallet, this is the first place I suggest you go. I have even noticed that JDogs Counterwallet servers seem to run even faster then the standard counterwallet.io servers. The second is Tokenly Pockets the Google Chrome Counterparty wallet. The fourth is the Wallet Genie CLI client, which you heard about in last weeks episode, and you will learn about the fourth in the project of the week.
Asset of the Week:
- The interview I had scheduled for the asset of the week this week was cancelled. So since I am not bringing on a guest, I would like to discuss the token BITCOINEX. As stated in the announcement thread on LTB, BITCOINEX is a token that has a 1 to 1 exchange ratio with BTC. This token was created by Nick Rathman, an LTB and Tokenly developer, as a way to be able to use BTC for dividend payouts and DEX BTC trades. You simple send BTC from a Counterparty wallet to the provided address (1CoinEXLQtivDjckWMRBbhgVJk9RdwdYbR) and the address will automatically send BITCOINEX to your wallet. If you would like your BTC back, simply send your BITCOINEX to the same wallet to receive BTC back. The core features of BITCOINEX are as follows:
- 1:1 exchange ratio for BTC. 1 BITCOINEX = 1 Bitcoin
- 0.5 % fee for new deposits. For example depositing 1 BTC will give you 0.995 BITCOINEX. No fees are taken when exchanging BITCOINEX back into BTC
- Accepts both BTC and XBTC for deposits, however will only give out BTC when exchanging back
- Sends out tokens after just 1 confirmation (instead of the 4 required for XBTC)
- Total existing supply of the token represents how much has been deposited into the system. For instance, if there is only 5 tokens in existence, but the vending machine has 0 tokens left and you deposit 10 BTC, it will issue 10 new BITCOINEX tokens, increasing the global supply to 15 total tokens. Tokens are recycled whenever possible, instead of constantly increasing the supply. This is in contrast to XBTC, which has 21 million tokens issued already (even though there will never be anywhere even close to that actually deposited or converted)
Since the recent counterparty issues last week, the distributions now cost twice as much to do. So to make up for that, FoldingCoin has decided to distribute once every other day from now on.
- Spells of Genesis have released the next card on the FoldingCoin platform, the MAGICFLDC card. Unlike the FDCARD, this one will not be as rare. MAGICFLDC is issued on a 1 to 1 basis to the amount of FLDC issued that day. So right now 500,000 FLDC and MAGICFLDC will be distributed to the folders each day. And once FLDC cuts to 250,000 per day, MAGICFLDC will do the same. The details of this card are still being worked out, but the hopes is to increase the awareness of folding by have a card that can constantly be earned. Those that had been folding for June just yesterday received the first distribution on MAGICFLDC. These will be distributed the first of every month for the prior months work. So if you aren't folding, follow this simple guide found on our tutorials page.
- LTB community member cc5alive has just announced a brand new Counterparty project called COLORSWARM. The purpose of Color Swarm is to create a platform where users can take videos and give them new life by coloring the individual frames. Videos are simplified into the equivalent of “coloring book” pages and are hand-drawn by the Color Swarm community. Participants in these projects will be rewarded proportionately to how much they contribute to the project. There is a really cool demo video of this in action that you can check out.
Spells of Genesis has been creating cards and selling them using Swapbots. SOG now has a card for FoldingCoin, Storj, Gemz, Ethereum, Counterparty, Swarm, and just recently Satoshi Nakamoto himself. As a reminder, the BITCRYSTALS crowdsale will be taking place on Swarm July 29th.
- Midas Rezerv has just won the "Tech in Asia" startup competition. Midas Rezerv uses Counterparty to issue its own MRCAM token backed by 1 gram of gold. Midas Rezerv stores the gold bullion assets in third-party, non-bank vaults in Free Trade Zones.
Sponsors and Shout Outs:
This episode of the XCP Update is brought to you by Tokenly, an open source company building tools to make tokens more useful and usable to everyone. One of the great tools that Tokenly provides is Swapbot. Swapbot allows you to easily sell your token for BTC or any XCP token. This is a vending BTC address so Swapbot will provide you a BTC address and what ever address the BTC comes from is where the token will be sent to. This has recently been extremely useful for the Spells of Genesis team as they have sold many of their counterparty cards using Swapbot services, but Tatiana Moroz, OCTO, FLDC, and WOODSHARES are taking advantage of this service as well. Would you like your very own Swpabot to sell your token? Simple follow the link in the show notes.
- This weeks shout out goes to the LTBCOIN holders. Poloniex announced on the 14th that it will be delisting LTBCOIN at the end of the month. Discussion began in the skype chat, forums, and other social media about this. Many people sent email requests to Poloniex asking them to reconsider and on Saturday Poloniex tweeted:
- Passionate pleas from the community have convinced us not to delist LTBC.
Project of the Week:
- The project of the week this week is Indie Square and I talk with Koji Higashi. Indie Square has built a mobile counterwallet available for both iOS and Android.
Bitcoin 2.0 News:
- In a Coindesk article, a Professional services firm Deloitte has revealed it is seeking to use blockchain technology to automate client auditing and crowdsource its consulting efforts, among other applications. With the announcement, Deloitte – one of the world's 'Big Four' audit firms – becomes the latest mainstream financial entity to voice its interest in the technology, following announcements by banking giants such as Citi, UBS and USAA. Some of Deloittes clients are currently exploring different protocols built on top of bitcoin, including Blockstream, Counterparty and Factom.
- I was recently having a conversation with a counterparty developer about the struggles of marketing. We for one have a hard time with it at FoldingCoin because any funds we have must go towards the development of the project and not marketing. I am no marketing expert, but one thing that I have found to really help the awareness of your project is by being active on social media and forums. Being actively engaged with your respective communities is a great way to answer your supporters questions while also getting to know them. Its also great when a community sees that there are active devs to the project. If you are running a crypto project and are not active on forums and social media I would recommend spending some time each day doing this, and its free exposure for your project.