This resulted in Poloniex taking 16 XCP fees…
This is unavoidable for a token based on Bitcoin. Except Bitcoin establishes the lightning network resulting in low fees for transactions. Which automatically would provide also low fees for counterparty
Using Sidechains will slove the issue for now.
*Sidechains just delay problems for remember it is a blockchain just with more scaling due to you knowing being a sidechain. If a trustless peg comes, sidechain will even be more useful.
But for now their is https://www.hazama.indiesquare.me/
I assume Counterparty can use the tech behind this as well(when its made):
There have been a number of suggestions regarding raising funds for development.
Would it be possible to do another bitcoin burn, with the resulting XCP to be held in a fund allocated only for development activities?
One concern with creating additional XCP is that of dilution. This could be mitigated to some degree by making the burn preferentially available to existing XCP holders.
If companies with a bit more cash in their coffer could be convinced to take part in the burn, they might also be willing to support development directly and indirectly through providing industry connections and promotion.
Fisco seems like a potential candidate:
*Fisco is a publicly listed company in Japan.
*Fisco now owns ZAIF, which lists XCP, Pepecash, and Bitcrystals.
*Fisco clearly has an interest in growth in utilization and liquidity for XCP and the tokens running on XCP (Pepecash, Bitcrystals, etc.)
There are probably many other companies that would be interested.
One other issue is how to determine the BTC/XCP exchange rate. Zaif is the only exchange now and due to the low liquidity, price could be manipulated in advance of the exchange rate fixing.
Any thoughts?
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As a side note, I live in Japan and I have accounts at both Zaif and Fisco. I have done enough transactions through both companies that the door could be open for me to help in communication with Fisco on this topic.
Given its history and real-life use cases, Counterparty is extremely undervalued, and if I were a publicly listed company and saw the opportunity to gain a significant stake in the project at this level, I would listen seriously.
Cheers,
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Forgive my mistake, but if the BTC are burned and the resultant XCP are allocated to the investor, there will still be no additional funds for development.
I imagine it would be necessary to issue new XCP in exchange for BTC, which would be held as a development fund (rather than burning the BTC).
It seems the general consensus here is that the community would like another CP foundation election.
Here is a link to the announcement of the new CP foundation election.
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Pretty cool to see one back.
The Foundation needs to bring more revenue funding either via XCP inflation, Fees earn per tx in a sidechain or membership fees?
Donation work but are not fully sustainable.
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I imagine some sort of block inflation. Like for every 4000 bitcoin blocks a certain amount of XCP are generated.
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Although I am not familiar with the hard realities of programming/coding, I am sure that the main contributors to Counterparty have donated an amazing amount of time and effort to furthering the project.
However, at some point there needs to be more funding to support the growth of the project in a more robust way.
Hopefully the new Foundation will find the best combination of financial inflow (new funds for development), fairness to existing XCP holders, and consistency with the original project concept (this last point is probably where compromise will be needed in the form of XCP issuance or inflation).
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This is true but at this point almost anything might actually benefit XCP holders
Thanks Jdog!
Greetings Alan, J Dog, Tucker and the New Counterparty Foundation and All Counterparty participants
I formally accept my nomination as a Counterparty Foundation Member
I can verify my holdings of 50 XCP
18FyntJG9hdXYvanm67mGgbyo1P7adckvg
Nominee wallet…
Best regards
Hon. Larry Shelton
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