Hello, Newbies!
Feel free to post your questions regarding Counterparty here, but don’t forget to check out the FAQ and bitcointalk “Announcement” thread first, to see whether your question has already been answered.
Thanks for posting this sticky! Should this be the place to provide a list of links and descriptions for all of the Counterparty online resources? This way users can discover and access them with ease. (Maybe something even easier to find would be good too.)
Some additional resources:
http://www.blockscan.com/ : tracks Counterparty transactions in the block chain and allows you to view how many XCP are stored at a given public address.
http://counterpartyd-build.readthedocs.org/en/latest/index.html : instructions for, among other things, getting the distributed exchange up and running on your personal computer
http://www.reddit.com/r/counterparty_xcp : XCP’s subreddit
I’m sure there are others as well!
This is an interesting project. I had some trouble compiling couterpartyd on windows, then I realized I had to run the windows cmd console as administrator. Worked like a charm after that.
I am interested in testing the exchange, but do not want to send BTC off into limbo somewhere by making a mistake.
Is there a tutorial on how to "Burn" BTC in order to buy XCP?
I cannot seem to find anything in the forum, FAQ, and the wiki is a blank page.
The burn period was only for the first month to generate XCP. Now all of the XCP that will ever exist have been created.
You’ll need to buy from already-existing XCP on counterpartyd now.
[quote author=inflaton link=topic=51.msg268#msg268 date=1391702516]
The burn period was only for the first month to generate XCP. Now all of the XCP that will ever exist have been created.
You’ll need to buy from already-existing XCP on counterpartyd now.
[/quote]
Thank you, please forgive my ignorance, I thought buying and burning were the same. I have qt-bitcoin rescanning blocks so I have not actually run counterpartyd yet.
Once I run counterpartyd, is it easy to buy on counterpartyd? I have the feeling it is done with a command line. Is there a tutorial or some instructions on using the exchange somewhere?
This post is relevant for v0.4
Bindy, there are resources/tutorials popping up everywhere, but it is fairly easy - after the machine is set-up.
One “gotcha” for newbs is that buying XCP to start, there is a 2 command process (3, if you count launching the server.). First step is send the order. Second step is pay the seller. These are separate actions. These steps are automated on almost every other exchange/trading experience. So, what this means, is you have to pay attention to when your order expires, and when the order that matched your order expires. Other steps in the middle would include monitoring the order book.
The commands to get you there would be as follows:
(start a shell, we’ll call this shell the “server-shell”)counterpartyd server
You will see a visual representation of each bitcoin block since the launch of couterpartyd, and the messages stored in each block. Leave the server-shell running, minimize it. It will continue to update in real-time. You can watch the action of the counterparty protocol, live, in real-time as your bitcoind synchs with each new block.
(start a new shell, we’ll call this the “trading-shell”)
The commands you will need, as a trader who wants to buy XCP with BTC would be as followscounterpartyd market --get-asset XCP --give-asset BTC
This will print one side of the order book (which, to me makes no sense, any trader would want to see both sides of the order book.) Flip the arguments around, and run it again to see the other side. Technically, you don’t need this information. I highly suggest you do look at it to make an informed trade.counterpartyd order -h
This command will give you a current overview of the arguments you need to provide in order to place an order. The gotchas include the expiration and the fees. Set the fees to something like 0.0001 BTC and you’ll be okay. Expiration is the amount of blocks you want to let your order exist for. This is how the counterparty system measures time. The command arguments are still in a state of flux. Eg (v0.2 the command was --from while in v0.3 the command was --source). This is why I’m telling you to run counterpartyd order -h, instead of the actual arguments you need to specify (quantity of give asset, quantity of get asset, give asset, get asset, expiration, fees, etc)
After you run this command, you’ll have on chance to confirm, then it’s done.
It’s a simple Y/n, and the order is sent.
While your order is submit it, you can monitor by using:counterpartyd market --get-asset XCP --give-asset BTC
to watch your order, and see if it gets matched. You’ll see a table with a column called “Matched Order ID”. The first time you see something in this table, it means your order (or part of it) was matched but you have to still pay the other trader. Take note of how long until expiration you have to pay. It might be only a few blocks, it might be several hundred. You have to issue the following command to pay the other trader before expiration. Copy and paste, or use an output stream, to capture your order-matched-id. Then, run this command:counterpartyd btcpay --order-matched-id XXX YOUR ORDER MATCHED ID XXXXXX
After you run this, and confirm, you should see the transaction go through in the server-shell, after the next block is scanned. Running the following in the trading-shell you’ll see your balances. [color=red]WARNING: For technical reasons, don’t pay for any orders with less than 5 blocks to expiration. You risk losing your BTC and not getting any XCP.[/color] Just let the other trader’s order expire, and leave your order open.counterpartyd wallet
And, then your done.
Edit: Flow. Spelling.
tldr: To buy XCP with BTC use two shells and these commands, read their output, and use their help (-h), and it’ll be pretty hard to screw up:
1. counterpartyd server
2. counterpartyd market --give-asset XCP --get-asset BTC
2. counterpartyd market --give-asset BTC --get-asset XCP
3. counterpartyd order -h
4. counterpartyd market --give-asset BTC --get-asset XCP #Watch for your order matched
5. counterpartyd btcpay --order-match-id XXXXXXXXXXXXXXXXXXXXXXXXXXXXX
6. counterpartyd wallet
Hey guys,
I have some XCP but this is all greek to me. Will there ever be a GUI or an easy to use and understand decentralized exchange? For now I will just keep my XCP in my btc wallet until I feel comfortable.
[quote author=JakeThePanda link=topic=51.msg423#msg423 date=1392129922]
Hey guys,
I have some XCP but this is all greek to me. Will there ever be a GUI or an easy to use and understand decentralized exchange? For now I will just keep my XCP in my btc wallet until I feel comfortable.
[/quote]
Auto setup maybe good…
[font=Verdana]Right, so let me start by saying that I have very limited technical knowledge. So whilst I do try and read everything I can and do it myself before I ask people I run into considerable problems.[/font][font=Verdana]I have been trying to build counterpartyd from the command prompt, which I managed to do successfully. However, I did this before properly configuring bitcoind (which I already had installed). So following this, I went to configure bitcoind to use with counterpartyd. This is where I ran into problems. I am already using armory with bitcoind, so when instructed to set up the rcp username and password of bitcoind to connect with counterpartyd, I was faced with a notepad file containing a conflicting username and password for armory.I then began guessing what to do and erased the info and replaced it with the username/password for counterpartyd as instructed by the setup website. Bitcoind began reindexing blocks but once it was finished, I tried to launch counterpartyd and it would not work.I’d appreciate it a lot if someone could spare the time to explain in layman’s terms how to run armory and counterpartyd using the same bitcoind. Do I need to uninstall everything and start fresh? If so how? and how do I uninstall counterpartyd?Thanks in advance and sorry if this is embarrassingly obvious. [/font]
Can i get a nice full explanation of what it is counterparty does, how the code works and all the technical stuff that will help me understand and maybe (if i get it) join in.
[quote author=barwizi link=topic=51.msg1086#msg1086 date=1393965578]
Can i get a nice full explanation of what it is counterparty does, how the code works and all the technical stuff that will help me understand and maybe (if i get it) join in.
[/quote]
For the code, see the counterpartyd GitHub repository: https://github.com/PhantomPhreak/counterpartyd
For the spec (which is under revision), see the Counterparty GitHub repository: https://github.com/PhantomPhreak/Counterparty
For a fuller explication of the functionality relating to assets (including issuances, the distributed exchange and dividends) see the assets wiki: https://wiki.counterparty.co/w/Assets.
I am currently revising our bets and broadcasts wiki. It will be up on the wiki.counterparty.co soon.
Beyond that, if you have any specific questions, please feel free to ask them here!
I am struggling to buy some XCP. I don’t really need to be able to use the platform yet, I just want to own some XCP and not have them sitting on an exchange. What is the easiest way to do this, as a newbie Windows user?
I have been trying to set up CounterPartyd but I have never used Command Prompt before and not sure if I am doing everything correctly. I have been using this page as the instructions http://counterpartyd-build.readthedocs.org/en/latest/SettingUpBitcoind.html
but some things don’t seem to work. I did download BitcoinQT, ran it, and waited forever until it synched, but then I went back to the instructions page and there were some instructions for command prompt that seemed to restart BitcoinQT from the beginning (which took like four days the first time) so I am not sure if I need to go through this step again? Can I just pay someone to help me set this up? Or better yet if the instructions were in clear sequential order for Windows users eg:
What do I do first? Download Bitcoin QT for Windows, run it, then close it (or leave it open? or just download and not run?), then download the Counterparty client (from where), then do what with command prompt and which programs should open/running while these commands are typed in? Or should I download something else first?
I am lost but I think it’s because I didn’t do everything in the right order so now not sure if I should just start over, uninstall Bitcoin, then re-install it but don’t run it, use the command prompt to run it for the first time? Help.
[quote author=Captain_Picard link=topic=51.msg1311#msg1311 date=1395084630]
I am struggling to buy some XCP. I don’t really need to be able to use the platform yet, I just want to own some XCP and not have them sitting on an exchange. What is the easiest way to do this, as a newbie Windows user?
I have been trying to set up CounterPartyd but I have never used Command Prompt before and not sure if I am doing everything correctly. I have been using this page as the instructions http://counterpartyd-build.readthedocs.org/en/latest/SettingUpBitcoind.html
but some things don’t seem to work. I did download BitcoinQT, ran it, and waited forever until it synched, but then I went back to the instructions page and there were some instructions for command prompt that seemed to restart BitcoinQT from the beginning (which took like four days the first time) so I am not sure if I need to go through this step again? Can I just pay someone to help me set this up? Or better yet if the instructions were in clear sequential order for Windows users eg:
What do I do first? Download Bitcoin QT for Windows, run it, then close it (or leave it open? or just download and not run?), then download the Counterparty client (from where), then do what with command prompt and which programs should open/running while these commands are typed in? Or should I download something else first?
I am lost but I think it’s because I didn’t do everything in the right order so now not sure if I should just start over, uninstall Bitcoin, then re-install it but don’t run it, use the command prompt to run it for the first time? Help.
[/quote]
If you just want to get XCP, you actually don’t need to use the Counterparty client, you can get XCP at two centralized exchanges: Poloniex and Bter.
[quote author=Captain_Picard link=topic=51.msg1311#msg1311 date=1395084630]
I am struggling to buy some XCP. I don’t really need to be able to use the platform yet, I just want to own some XCP and not have them sitting on an exchange. What is the easiest way to do this, as a newbie Windows user?
I have been trying to set up CounterPartyd but I have never used Command Prompt before and not sure if I am doing everything correctly. I have been using this page as the instructions http://counterpartyd-build.readthedocs.org/en/latest/SettingUpBitcoind.html
but some things don’t seem to work. I did download BitcoinQT, ran it, and waited forever until it synched, but then I went back to the instructions page and there were some instructions for command prompt that seemed to restart BitcoinQT from the beginning (which took like four days the first time) so I am not sure if I need to go through this step again? Can I just pay someone to help me set this up? Or better yet if the instructions were in clear sequential order for Windows users eg:
What do I do first? Download Bitcoin QT for Windows, run it, then close it (or leave it open? or just download and not run?), then download the Counterparty client (from where), then do what with command prompt and which programs should open/running while these commands are typed in? Or should I download something else first?
I am lost but I think it’s because I didn’t do everything in the right order so now not sure if I should just start over, uninstall Bitcoin, then re-install it but don’t run it, use the command prompt to run it for the first time? Help.
[/quote]
You can purchase at a centralized exchange, and transfer it into any bitcoin address (including a paper wallet). You can then verify the balance w/ blockscan without needing the client. The upcoming counterwallet client will offer sweep functionality to import in external addresses, again without requiring counterpartyd.
Make sure to do small transfers first to be comfortable with the process.
Thanks guys. Very helpful. Sorry to be a pest with Newbie questions.
Just to make sure I understand, does this mean any Bitcoin public key can receive CounterParty (XCP)? Does it matter if that wallet already has a Bitcoin balance?
Are there people who help set up new assets using the CounterParty protocol? I’ve looked at the commands for that too and probably would not attempt on my own, or will the new wallet enable that part too?
BTW - I am SUPER stoked by what CounterParty can do and I think you guys have done a great job. The new wallets will be awesome. The whole concept of DACs and DAOs is amazing and can’t wait to start using the client to issue assets. Just need to get over some initial tech hurdles.
[quote author=Captain_Picard link=topic=51.msg1323#msg1323 date=1395100472]
Just to make sure I understand, does this mean any Bitcoin public key can receive CounterParty (XCP)? Does it matter if that wallet already has a Bitcoin balance?
[/quote]
Yes, and no it doesn’t.
[quote author=Captain_Picard link=topic=51.msg1323#msg1323 date=1395100472]
Are there people who help set up new assets using the CounterParty protocol? I’ve looked at the commands for that too and probably would not attempt on my own, or will the new wallet enable that part too?
[/quote]
Yes, these forums. And yes, it will.
[quote author=Captain_Picard link=topic=51.msg1323#msg1323 date=1395100472]
BTW - I am SUPER stoked by what CounterParty can do and I think you guys have done a great job. The new wallets will be awesome. The whole concept of DACs and DAOs is amazing and can’t wait to start using the client to issue assets. Just need to get over some initial tech hurdles.
[/quote]
Thanks.
I am trying to get everything installed but when I finally get to the point that I need to type in “counterpartyd server”, I receive back a lot of error messages and it ends by saying "How is your internet connection?"
However, if I skip that step and just type in “counterpartyd”, it seems to be working. So, two main questions. How can I check my balances? I assume it’s not going to show up in the Bitcoin-qt client. Second question, how can I send?
Thanks in advance!
Looks like I’ve made my first crypto-currency mistake, but honestly, I thought it was a ‘near impossible’ scenario. I was planning to trade some Bitcoin for XCP so I got an account at Poloniex.com. In the process of funding the account with Bitcoin, I inadvertently copied and XCP deposit address instead of a Bitcoin Deposit Address.
https://blockchain.info/address/1HNZBmyqPEmS8bVwZBNokwo6rx6L1UGe2k
I guess I thought that the blockchains had different enough compositions that it would be almost impossible (like 1 in a billion) to pick a valid address. So, my question is this…based upon the blockchain analysis, did I actually lose my 3 BTC to a random address or am I missing something? Did it somehow get burned and go to XCP? I’m pretty confused and glad it wasn’t more money. But still a little depressed about it needless to say.
Contact Poloniex support, hopefully they can figure it out.
[quote author=wmbutler link=topic=51.msg1526#msg1526 date=1395520100]
I guess I thought that the blockchains had different enough compositions that it would be almost impossible (like 1 in a billion) to pick a valid address. So, my question is this…based upon the blockchain analysis, did I actually lose my 3 BTC to a random address or am I missing something? Did it somehow get burned and go to XCP? I’m pretty confused and glad it wasn’t more money. But still a little depressed about it needless to say.
[/quote]
Don’t worry. Poloniex has the key for the XCP address (and thus of the BTC you sended there too since XCP/BTC share the same adresses) and he has proved to be an honest individual. Contact him via a support ticket and he hopefully he will solve this for you.