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When Ethereum is released and proven reliable, can we consider moving from counterparty to Ethereum?

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irnhnve

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Posts: 228

Counterparty is easy to use....in theory. However over the last year of consistently using their platform, I've almost always had an issue in some form or another and it seems to be getting worse. Things I've had issues with:

Complete inability to login, random addresses showing up (I had 60+ more appear yesterday), things not loading, general slowness, etc

I know I've seen @Cryptonaut express his frustration a few times with Counterparty and was wondering if when Ethereum is released and proven reliable, if switching to that platform would ever be taken into consideration.

Posted on March 29, 2015 at 12:34 PM
Last Edited: March 29, 2015 at 12:35 PM

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• Cryptonaut

  

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  Posts: 1944
  Location: Canada

  The frustration has been more with counterwallet, which has just been the only existing wallet implementation, not the protocol itself. Besides a few server and installation issues, the Counterparty protocol has been great to work with :) Almost all of the problems have been with the counterwallet.io web wallet, which hasnt been worked on much at all lately, I guess the core XCP team are trying to focus on the protocol and want other people to take over building wallets, so, many bugs have never been fixed.

  There is finally some new wallets coming out, which is nice.. most notably the LTB Companion wallet which you can find here: https://letstalkbitcoin.com/forum/post/ltb-companion-chrome-extension. I highly recommend trying it out, it's not quite as full featured as counterwallet yet, but for basic sending/receiving of different tokens it works great.

  As far as ethereum goes... for one, Counterparty forked ethereum and is nearing a main-net release of smart contracts, so everything that ethereum does we can just do on the bitcoin blockchain (by far the most secure and time-tested) rather than on a brand new, much more experimental and less secure chain. Secondly, I dont see any game-changing features in ethereum (especially since its mostly all on counterparty to...) that would warrant the amount of work switching over to them, and I'm not too confident that their initial wallet software will be very stable and user friendly from the get-go (very common problem with all cryptocurrencies).

  Another thing to consider is that the amount of bitcoin users out there is in the order of hundreds of thousands of people or more.. while the number of users in every single other altcoin (even litecoin and dogecoin) is much much smaller - effectively 0 in ethereums case since they aren't even out yet.. Switching off of BTC means that our main LTBCOIN user base becomes only the people that are already using whatever altcoin, and the main hurdle becomes getting people to figure out and use said altcoin rather than just jumping right into our services. Also we are Let's Talk Bitcoin after all :p

  tl;dr probably not - but we'll see

  Posted on March 29, 2015 at 1:15 PM
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• irnhnve

  

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  Posts: 228

  @cryptonaut

  Thanks for the clarification, didnt realize it was just the wallet. I'll probably try making something as well and see how it goes

  Posted on March 29, 2015 at 1:32 PM
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• pooktwo

  

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  Posts: 792
  Location: Indianapolis

  @cryptonaut The frustration has been more with counterwallet, which has just been the only existing wallet implementation, not the protocol itself. Besides a few server and installation issues, the Counterparty protocol has been great to work with :) Almost all of the problems have been with the counterwallet.io web wallet, which hasnt been worked on much at all lately, I guess the core XCP team are trying to focus on the protocol and want other people to take over building wallets, so, many bugs have never been fixed.

  There is finally some new wallets coming out, which is nice.. most notably the LTB Companion wallet which you can find here: https://letstalkbitcoin.com/forum/post/ltb-companion-chrome-extension. I highly recommend trying it out, it's not quite as full featured as counterwallet yet, but for basic sending/receiving of different tokens it works great.

  As far as ethereum goes... for one, Counterparty forked ethereum and is nearing a main-net release of smart contracts, so everything that ethereum does we can just do on the bitcoin blockchain (by far the most secure and time-tested) rather than on a brand new, much more experimental and less secure chain. Secondly, I dont see any game-changing features in ethereum (especially since its mostly all on counterparty to...) that would warrant the amount of work switching over to them, and I'm not too confident that their initial wallet software will be very stable and user friendly from the get-go (very common problem with all cryptocurrencies).

  Another thing to consider is that the amount of bitcoin users out there is in the order of hundreds of thousands of people or more.. while the number of users in every single other altcoin (even litecoin and dogecoin) is much much smaller - effectively 0 in ethereums case since they aren't even out yet.. Switching off of BTC means that our main LTBCOIN user base becomes only the people that are already using whatever altcoin, and the main hurdle becomes getting people to figure out and use said altcoin rather than just jumping right into our services. Also we are Let's Talk Bitcoin after all :p

  tl;dr probably not - but we'll see

  Very well said nick, I couldn't agree with all your points more.

  Posted on March 29, 2015 at 2:15 PM
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