Creating a coin like LTBCoin

Hi guys,

Wonderful work with Counterparty!

I want to create a coin/asset like the LTBCoin (Lets talk Bitcoin). Lets call it ThanksCoin. I have a social network and whenever someone registers I would like to create an account/wallet that can hold ThanksCoins.

How do I automatically create this account with the Counterparty API for each new registered user?


Hello Kim and welcome. Counterparty assets and actions are associated with Bitcoin addresses so if someone wanted to have control over some quantity of your ThanksCoin, they would need to have a either a Counterwallet or a Bitcoin client with Counterparty software running locally. Since you would be issuing and distributing your token there is no need to create or fund an actual Bitcoin address until your users give you a Bitcoin address to send them to. So for example with LTBCoin, that site asks you to fill in your Bitcoin address in your profile. Then when they do their distributions on a weekly or so basis they send LTBCoin to the address in your profile.

What you need then for your system is to have a field in your profile (which should be private) for a Bitcoin address. If you'll be sending ThanksCoin to that address, users should be made aware that they'll need to access that address with Counterparty-enabled software. You should probably point them to since that's the easiest way to transact with Counterparty thus far. Power users can run the build process to setup a local Counterparty wallet with Bitcoind (

Hope that helps. If you have any other questions, feel free to ask!