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smart contracts on counterparty!!

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shawn_j

http://counterparty.io/news/counterparty-recreates-ethereums-smart-contract-platform-on-bitcoin/

http://cointelegraph.com/news/112908/counterparty-adds-ethereum-smart-contract-features

so the counterparty team has successfully ported pyetherium. it's a turing complete language, so we can now do "anything" with our assets.

what does this mean for us, the end users/small-time creators? are these tools only available when you create an asset, or will we see many new buttons in counterwallet in the near future? can this help adam's TCA scheme at all? it seems like token controls would benefit quite a bit from having smart contracts. or maybe this is just a layer he doesn't have to build by himself, lol

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  • page

    All I know is this will create more demand for XCP and make the price go UP! I am not really sure how this might help with LTBc.

    The anarch wages his own wars, even when marching in rank and file.
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  • Rob

    Pretty amazing… Counterparty keeps impressing!

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  • jsea

    what does this mean for us, the end users/small-time creators? are these tools only available when you create an asset, or will we see many new buttons in counterwallet in the near future? can this help adam's TCA scheme at all? it seems like token controls would benefit quite a bit from having smart contracts. or maybe this is just a layer he doesn't have to build by himself, lol

    I think the main problem in answering those questions is that there's a fair amount of uncertainty revolving around the future path of counterwallet, We could see, at some point in time, the Bitcoin Core blocking counterparty transactions and in turn Counterparty switching to another Blockchain.

    The uncertainty is one reason why I'm using VIACOIN and Clearinghouse it has speed and cost related advantages among others. I've not identified any real disadvantages.

    I'm also looking at Bitbay as an interesting development, have you heard of that ?

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  • mdw

    I'm not convinced this is even going to be significant, let alone important. Change the world by strapping on a half-assed port of an unfinished product that may not even work? Perhaps.

    Is building bulky layers of duct tape and bungee cords on top of Bitcoin really the way forward? For smart property, it seems likely. There are few requirements, only a minimal amount of storage. For smart, distributed apps, I think not. These will evolve into smart, dynamic systems, and their design will naturally evolve on the more expressive platforms.

    But my crystal ball got lost, I could be totally wrong...

    "I can't understand why people are frightened of new ideas. I'm frightened of the old ones." - John Cage

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  • shawn_j

    @mdw

    Is building bulky layers of duct tape and bungee cords on top of Bitcoin really the way forward?

    so is http just a bulky layer of duct tape on top of tcp/ip?

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  • mdw

    @shawnj

    @mdw

    Is building bulky layers of duct tape and bungee cords on top of Bitcoin really the way forward?

    so is http just a bulky layer of duct tape on top of tcp/ip?

    Not so bulky, no. Ma Bell and others kept trying to build smart networks for many years, maybe they still do. They kept insisting there's no reason we can't stuff all the fancy features in there. But a generic transport layer is the most useful, devoid of any intelligence except what's actually needed to route traffic. They wanted to bake some of the HTTP functionality into the transport layer! In fact, they knew that everything could be stuffed into the networking layer. Doesn't mean it should though.

    If they built a network that knew all about email and FTP and BitTorrent and so on, would it be better? Well in some ways life would be easier. But our Internet would be brittle. This is not a good design.

    Ethereum has the same philosophy - They're all about that chain, 'bout that chain, no features. For people to imagine and create the next generation gee-whiz Dapps, they could really use a featureless chain, built for applications. The right tool for the job. Dapps'll be primitive until they start to be developed on the 2.0 platforms; low-hanging fruit only IMHO.

    I know you weren't really talking about Dapps or DAOs, but only smart contracts. They can be done on any chain, even Bitcoin, if you grunt hard enough. But we clearly need something more suitable for running applications on. We can try to make Bitcoin be all things to all people, but it won't be good at all of it. That's my 2 millibits :)

    "I can't understand why people are frightened of new ideas. I'm frightened of the old ones." - John Cage

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    @jsea

    I'm also looking at Bitbay as an interesting development, have you heard of that ?

    I bought some. I am not sure about it though. Really, I just had some BTC on bter that I could afford to lose, so I gambled with Bitbay. That was the last of my trading money!

    The anarch wages his own wars, even when marching in rank and file.
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  • jsea

    @page

    @jsea

    I'm also looking at Bitbay as an interesting development, have you heard of that ?

    I bought some. I am not sure about it though. Really, I just had some BTC on bter that I could afford to lose, so I gambled with Bitbay. That was the last of my trading money!

    Sure looks good, sold out with 15 minutes remaining, lets see what happens ...

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    @jsea

    Sure looks good, sold out with 15 minutes remaining, lets see what happens ...

    To the moon!!! ┗(°0°)┛

    I think trading starts later today - 10pm GMT. I have to admit I am not as confident as the people in the bitcointalk thread. It always makes me laugh how everyone talks up a coin! Still, hopefully, there'll be some good news coming soon that will push up the price!

    The anarch wages his own wars, even when marching in rank and file.
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  • jsea

    @page

    @jsea

    Sure looks good, sold out with 15 minutes remaining, lets see what happens ...

    To the moon!!! ┗(°0°)┛

    I think trading starts later today - 10pm GMT. I have to admit I am not as confident as the people in the bitcointalk thread. It always makes me laugh how everyone talks up a coin! Still, hopefully, there'll be some good news coming soon that will push up the price!

    Did you see the demo vdo, lol bob wallet,

    see the comment left by Shnoshk youtube.com/watch?v=ieTIr71Sb3c

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