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XCP - what is it good for?

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• LazyBee

  

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  @bikergsx I don't think you can go far wrong by holding some XCP long term.

  Any reason behind your thinking, or is it just hope because you are holding it?

  Posted on July 19, 2014 at 4:54 AM
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• BikerGSX

  

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  @lazybee

  @bikergsx I don't think you can go far wrong by holding some XCP long term.

  Any reason behind your thinking, or is it just hope because you are holding it?

  Well to be honest, I don't have any yet, but will be getting about 0.3 BTC worth later this week. I am new to the Counterparty wallet, and hey I found you guys there. I brought some Swarm coins which is how I got to counterparty and they are going to introduce some changers to the wallet to make it more user friendly. This coin has a lot more features than many other coins out there. I personally think they will go up in value, but that is my humble opinion, and I have been wrong in the past.

  Edit: also think about it who wants to look at an empty XCP wallet?

  Posted on July 19, 2014 at 10:53 AM
  Last Edited: July 19, 2014 at 11:00 AM
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• coinshot

  

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  @bikergsx I don't think you can go far wrong by holding some XCP long term.

  I think that too.

  Posted on July 19, 2014 at 12:08 PM
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• malacalypse

  

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  counterwallet betting functions have been disabled for me with this warning:

  It appears that you are located in a country in which we are legally unable to provide this service.

  Posted on July 20, 2014 at 12:24 PM
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• unwrittenjamaican

  

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  @malacalypse counterwallet betting functions have been disabled for me with this warning:

  It appears that you are located in a country in which we are legally unable to provide this service.

  You should put yourself behind a proxy oR VPN that isn't located in the USA

  Posted on July 20, 2014 at 12:36 PM
  Last Edited: July 20, 2014 at 12:36 PM
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• Negative One

  

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  It's kind of stupid the restrictions put on by geographic location. Hopefully people will realize that you can't regulate this stuff out of existence.

  Posted on July 20, 2014 at 1:36 PM
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• malacalypse

  

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  Yah. It's a similar thing that happened with Satoshi Dice. They IP blocked access to the website but it wouldn't stop anyone from using it if they knew the bitcoin addresses to use. International VPN definitely makes this problem easy to route around but I imagine it is enough to slow down adoption pretty significantly. Would be curious to know if the counterparty guys have any comment on what motivated them to do this.

  Posted on July 20, 2014 at 2:18 PM
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• Munchy YumYums

  

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  @malacalypse Yah. It's a similar thing that happened with Satoshi Dice. They IP blocked access to the website but it wouldn't stop anyone from using it if they knew the bitcoin addresses to use. International VPN definitely makes this problem easy to route around but I imagine it is enough to slow down adoption pretty significantly. Would be curious to know if the counterparty guys have any comment on what motivated them to do this.

  They don't want to violate US law

  Posted on July 20, 2014 at 2:27 PM
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• Fernandez

  

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  So, in short asset creation requires XCP. Thats the only compulsory thing as I see it.

  Posted on July 21, 2014 at 11:17 AM
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• Fernandez

  

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  @knircky Yes XCP is kind of the main currency of counterparty. It is much faster to do things than with BTC.

  So if you want to:

  • Create an asset
  • Betting and CFD
  • Play Rock Paper Scissors (gambling)

  you need XCP. Since you will be able to buy XCP easy via the DEX or in future via vending machine the currency is hyper deflationary. First it is fixed in qualntity. So if the value of counterparty goes up the value of XCP has to go up. Then also when u create assets XCP gets destroyed. Thus the amount of XCP will become less and less.

  It must be the business model of the developers to built the best system ever and then hope that their XCP that they have surely bough go up in value.

  Also in the future you will likely buy most assets via XCP vs BTC since it will be much faster ans smoother.

  I like their credo - non nonsense work and let the product speak for itself. I still would've preferred XCP to be more compulsory in it, but as you pointed out the ease of working with XCP might actually win out.

  Posted on July 21, 2014 at 11:19 AM
  Last Edited: July 21, 2014 at 11:20 AM
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