[quote author=TeamAmerica link=topic=160.msg2086#msg2086 date=1398532300]
[quote author=AdamBLevine link=topic=160.msg2082#msg2082 date=1398473495]
[quote author=cryptonaut link=topic=160.msg2081#msg2081 date=1398471587]
One thing im kind of confused about…
I understand this concept for other things (like an alt coin… or gold or something), but what is the point of using XBTC asset for trade on the exchange versus just using bitcoin normally? Cant you already buy/sell/use bitcoin on the decentralized asset exchange?
[/quote]
There are extra steps if you use Bitcoin while if you use XCP or User Created Asset the counterparty protocol can escrow and automatically trade those, but it cannot do that with Bitcoin because they are “below” the counterparty protocol.
[/quote]
The Counterparty team should look to integrate Adam’s answers into the FAQs:
https://www.counterparty.co/resources/faqs/why-must-dividends-bets-and-betting-fees-be-paid-in-xcp/
https://www.counterparty.co/resources/faqs/aside-from-speculative-investment-why-will-there-be-demand-for-xcp/
I think it needs to get a bit more technical than they are “below” the counterparty protocol, but that should be relatively easy to explain. Maybe it’s possible to explain the role of XBTC there.
[/quote]
ah, yeah that makes more sense now
Just sent 0.2XBTC to address. Please send back BTC
[quote author=mrwdunne link=topic=160.msg2224#msg2224 date=1399234494]
Just sent 0.2XBTC to address. Please send back BTC
[/quote]
I’ll follow up with MaxMint. He is currently operating XBTC manually until the service is fully automated.
When will this service be opened ? I just thought of a killer app.
When an alt is announced, they have to find an exchange to accept it,
Alts that are clones of btc are easy as api are compatible, those that are written from scratch, are usually hotter than the direct clones, yet have a hard time finding an exchange accepting them, they have to run to poloniex or ones that keen to work on weird apis, which could take quite sometimes, so they trade on spreadsheets.
If xbtc is ready, users from new alt communities can just offer XSomething and trade against Xbtc before their alt hits big exchanges.
[quote author=romerun link=topic=160.msg2399#msg2399 date=1400634912]
When will this service be opened ? I just thought of a killer app.
When an alt is announced, they have to find an exchange to accept it,
Alts that are clones of btc are easy as api are compatible, those that are written from scratch, are usually hotter than the direct clones, yet have a hard time finding an exchange accepting them, they have to run to poloniex or ones that keen to work on weird apis, which could take quite sometimes, so they trade on spreadsheets.
If xbtc is ready, users from new alt communities can just offer XSomething and trade against Xbtc before their alt hits big exchanges.
[/quote]
Hi romerun,
We will have more news in the coming weeks regarding XBTC. The radio silence is a result of us working hard.
PS: You are quite good at joining the dots together 
LOL ;D
Cancel your troll orders and get your Counterwallet ready for some trading on the DEX.
XBTC will be publicly launching in 1 week’s time! A new thread will be created on launch.