Why must bets, and betting fees and callbacks be paid in XCP?

The Counterparty protocol currently cannot escrow BTC from a user’s address, hence making BTC the currency in which bets, fees and callbacks are denominated would be at the expense of trustlessness.

Having only one currency that can be used for betting and callbacks makes them simpler and easier, and will also bring liquidity to both bets and callbacks.

Thus, the asset used for bets and callbacks must either be user-created assets or XCP, and by having it be XCP, feed-operators and users who purchase callable assets and make bets are paid in one of the most stable and widely-used of Counterparty’s assets.


  • A future version of Counterparty will support multisig and consequently the BTC denominated bets, fees and callbacks may be allowed
  • There are 3rd party betting sites based on the Counterparty protocol that allow the user to bet in BTC.