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bcohen

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So I guess we all will be using Counterwallet more now that we have LTBCoin in our virtual pockets.

Anyway I was logged in and reviewing my Sell for BTC and buy for XCP which has taken an inordinate amount of time and is still outstanding...

When I just noticed a Notification pop up (with an image of a Magic wand I think?) of

"Additional 6,936,666.9779 units issued for token LTBCOIN"

Anyway I only have a trivial amount of XCP and wanted to buy a block of 100 XCP (which I suppose is probably a trivial amount for some folks). It has sell ~10 days from now (@ block #XXXX how likely is this to execute? The market is moving all the time and these trades are fixed in proportion BTC/XCP

I also had an order match for the following

3656.88518812 LTBCOIN for 1 BTC

yes there is (supposedly) a way to trade LTBC for BTC in Counterparty/counterwallet

LOL! What's up with that?!!! LOL!!!

Should I just be doing this in Cryptsy? I really want(ed) to use Counterparty/Counterwallet so that I can familiarize myself with it by using it.

Posted on July 5, 2014 at 7:11 AM
Last Edited: July 5, 2014 at 7:28 AM

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• troy112

  

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  @scottks You'll only see the LTBcoin only when you have some balance in it. When some balance comes, there'll be another box along with amount in it, in the address you supplied in the forum.

  Posted on July 5, 2014 at 9:51 AM
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• adam

  

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  Location: California, USA

  @scottks @troy112 yep, hang tight we're about to issue the first audience distribution.

  Posted on July 5, 2014 at 10:00 AM
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• cmason

  

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  @bcohen I have tried using the distributed exchange but no luck so far. I have put in a small sell order of LTBCOIN for XCP, and another for BTC. I accepted the market price on both and will let them sit for the next week to see if anything happens.

  I initially tried a couple sells for BTC, then cancelled them since it didn't seem to be working, and I temporarily had a negative LTBCOIN balance, which freaked me out. Looks like it was just a bug, and once I left it alone for a while the balances went back to previous values. Then I realized this was costing me small amounts of BTC every time I tried, so I'll let my current orders sit for now.

  There are apparently open orders on both sides, so I attribute the problem to growing pains, and probably a lack of volume which is resulting in the "market price" not necessarily being accurate or up to date.

  It does seem like Counterparty is taking the right approach, though, and prioritizing data integrity over functionality. In other words, if things don't work right, we don't lose our balances. A trade might not go through, but that's much better than part of the trade going through, but only on one side. I'm assuming this is the reason they are using escrow transactions on the blockchain, which I admit I do not understand, but I assume the idea is that if everything is not copacetic on both sides, a "reset" button is hit and everything goes back to where it started.

  One thing I might recommend is take advantage of the other 2 addresses you get in your Counterwallet. If you want to try trading something and you have several different assets in your main address, send a small amount to Address 2 or 3, then try trading from there. Not sure if that really makes a difference, but it seems safer to me. :)

  Posted on July 5, 2014 at 10:23 AM
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• Cryptonaut

  

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  Location: Canada

  @adam actually, an idea: we could check their LTBcoin balance when they login based on what address they entered. then show that on their profile or at least in the dashboard home

  Posted on July 5, 2014 at 11:44 AM
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• furezasan

  

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  @cryptonaut @adam actually, an idea: we could check their LTBcoin balance when they login based on what address they entered. then show that on their profile or at least in the dashboard home

  That'd be pretty cool...

  Posted on July 5, 2014 at 1:52 PM
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• adam

  

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  @cryptonaut @adam actually, an idea: we could check their LTBcoin balance when they login based on what address they entered. then show that on their profile or at least in the dashboard home

  Sounds good to me

  Posted on July 5, 2014 at 2:53 PM
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• Rob

  

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  Location: California

  Glad to know I'm not the only person befuddled by trade attempts on Counterwallet! So many things seem so intuitive and slick with the wallet, but the trading is not. And I'm totally unable to grasp the BTC TX details, with escrows and such. Is there an explanation on Counterparty's site or forums that explain trading and the transaction details that occur when one places a trade order?

  Posted on July 6, 2014 at 6:52 AM
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• adam

  

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  Location: California, USA

  Rob, orders are being improved - they are moving to a "BTer.com" style order interface, which has both buying and selling on the same page and a unified order book.

  Posted on July 6, 2014 at 7:05 AM
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• popinjay

  

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  Anybody else having counterwallet troubles? I'm getting errors and no balance showing

  Posted on July 6, 2014 at 7:25 AM
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• adam

  

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  Location: California, USA

  @popinjay Anybody else having counterwallet troubles? I'm getting errors and no balance showing

  Yes, servers appear to be down. I tried to send out some still-owed content LTBC (about 4 million total) and got zero balances on everything and error messages about the server.

  Posted on July 6, 2014 at 7:49 AM
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