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The Bitcoins in my Counterwallet

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pinheadmz

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Posts: 28
Location: San Francisco, CA

If I spend the Bitcoins from my counterwallet address, will I lose the counterparty assets like LTBcoin associated with that address? Or do they just stay in limbo until I refill that address with bitcoin that can carry them on the blockchain?

Posted on June 28, 2014 at 6:19 PM

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• adam

  

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  Posts: 1980
  Location: California, USA

  No, you can think of the little amounts of bitcoins you recieve as the envelope that deliver your assets. Once the delivery is complete, you can do whatever you want with the envelope.

  Posted on June 28, 2014 at 6:26 PM
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• pinheadmz

  

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  Posts: 28
  Location: San Francisco, CA

  Thanks Adam. So even though the bitcoin Tx outputs that carried the Counterassets to me are spent according to Mr. Bitcoin, the Counterprotocol still honors that balance as unspent.

  Btw, this is the best 2.0 in my opinion. Colored coins and mastercoin seem messy to me, this is a great protocol.

  Posted on June 28, 2014 at 6:34 PM
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• adam

  

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  Posts: 1980
  Location: California, USA

  Yeah that's right - You're confused because some implementations of colored coins (the most commonly discussed one) designates specific satoshis or chunks of satoshis as a given asset, which would make the dust matter. That's not the case here.

  And yeah, I agree with you. The only problem is it's slow and expensive. I'm working on that.

  Oh @pinheadmz, I'll give you 15% of the LTBCOIN we earn for Tuesdays episode if you can edit my interview with ron gross (and mark the two natural break points) by the end of sunday. The raw interview is 56 minutes long.

  Into it? I'll stick it in the dropbox. We get paid for Tuesdays show (the first time) on Friday, so your cut would wait til then.

  Posted on June 28, 2014 at 6:48 PM
  Last Edited: June 28, 2014 at 6:49 PM
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• pinheadmz

  

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  Posts: 28
  Location: San Francisco, CA

  Cool! I can do it tomorrow morning. Thanks

  Posted on June 28, 2014 at 7:11 PM
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• pinheadmz

  

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  Location: San Francisco, CA

  ps @adam, your post says

  "Last Edited: December 31, 1969 at 4:00 PM"

  Haha...

  Posted on June 28, 2014 at 7:34 PM
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• adam

  

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  Posts: 1980
  Location: California, USA

  hehe, @cryptonaut another forum bug

  "Last Edited: December 31, 1969 at 4:00 PM"

  @pinheadmz you can go post over in

  http://letstalkbitcoin.com/forum/board/spend

  Posted on June 28, 2014 at 7:41 PM
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• Cryptonaut

  

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  Posts: 1944
  Location: Canada

  @adam hehe, @cryptonaut another forum bug

  "Last Edited: December 31, 1969 at 4:00 PM"

  @pinheadmz you can go post over in

  http://letstalkbitcoin.com/forum/board/spend

  oh yeah, I forgot about that one! Added to the list

  Posted on June 28, 2014 at 8:09 PM
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