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Re: The issue with tipping

@William - yes that is essentially it.

I'm not sure how the fee structure would work since it is in the planning stages now. But I expect there will be a small fee (in LTBcoin only) charged per tip. To cash out you'll need to send some BTC dust to a payment address to cover the transfer fees. Your weekly distribution would go straight to your off-chain wallet, and your debts would immediately be settled. If you run up a big tab and your weekly distribution doesn't cover it, you will need to send in LTBcoin from counterparty.

The other proposal on the table is to let you run up a tab during the week, but you would have to send in LTBcoin to pay it. The LTB network would make it very convenient for you to pay your tipping bill for the week by providing a single address to pay to. You would need to send some BTC dust and LTBCOIN to cover the transactions. More transactions would mean slightly more BTC fees (roughly 0.256 mBTC per tx).

Both solutions have pros and cons. I'd love to hear everyone's feedback and ideas.

Re: The issue with tipping

Bitcoin and Counterparty are expensive for tipping small amounts. It is a known issue. I'm pretty sure you would pay the fee if you sent from coinbase to a tipping address as well.

I'll throw this out there. Would you use an off-chain web-wallet if there was one for LTBcoin?

Say the fees were much smaller than $0.15 and off-chain tipping transactions in the LTB network were instantaneous.

Would this be of interest?

Re: It's Expensive Using Bitcoin!

I think the issue is that each counterparty "SEND" transaction is separate. There is no way to send to 2 different addresses in one transaction.

So, you cannot save space by compressing a data stream with multiple sends because they must remain independent from each other and live as separate entities on the Bitcoin block chain.

Re: LTBcoin paper wallet

@tnt3

How do you export private key from the online CounterWallet?

In the My Balances page, under Address Actions, select "Show Private Key"

Re: LTBcoin paper wallet

Thanks @deweller, and sorry I missed your response on the original thread. And regrettably, while I get what you're saying in regards to the way Counterparty sees the transaction, I'm still perplexed about the Bitcoin part of the transaction. The paper wallet is still sending some BTC as a Counterparty message envelope (at least that's the way I conceive of how transactions work, based on what I've read in the LTB forum). So I don't know why the lack of a change address for the tiny bit of Bitcoin being sent isn't an issue.

The change address for the bitcoin dust included in the Counterparty transaction is automatically the paper wallet address. There is no way to change this using Counterwallet.

And, I think that even if you sweep all the funds, the assets are moved first (each as a separate transaction). And then the BTC is moved as a separate transaction after the assets are moved.

Re: LTBcoin paper wallet

@RobMitchell, I posted a comment on the article, but I'll post it here too:

Sweeping funds in Counterparty is different than spending bitcoin. When spending a previous transaction output in Bitcoin, you must provide a change address.

Counterparty does not use the concept of change addresses. When sweeping an asset in Counterparty, you are merely sending a single asset.

So, no, you don't need to provide any sort of change address when sweeping or sending assets in Counterparty.

Re: LTBCOIN Exchange Rate Widget

Love it! 1,000 LTBcoin tip sent your way. :)

Re: EARNFREEBTC.XCP - Earn BTC with your CounterWallet

@Cryptonaut - I bought some. Good luck with your project!

Crowdfund an LTBcoin Project

What would you do for LTBcoin?

Can you create a stirring, eye-catching video promoting LTBcoin or the LTB network? Can you create a song about LTBcoin? Can you build a robot that will washes socks?

Discuss your ideas here. If you feel you have some community consensus that your idea is worth doing, then start a new thread with [CROWDFUND] in the subject and propose the specifics. Amount of LTBcoin needed, Deadline, Deliverables, etc.

When it starts, we'll get an escrow account set up to hold all the LTBcoin.

If the idea does not reach its funding goal, then the LTBcoin will be returned.

I propose that when the project launches, the crowdfunding owner will have to send a modest amount of BTC to the escrow address to cover the return fees. And there will likely be a minimum LTBcoin contribution if you want to get your LTBcoin back (e.g. If you sent 1 LTBcoin to back the project, you aren't gonna get that back. )

So let's see if this is something we can get started as a manual process. And if it works, maybe we can raise funds to build an automated system.

Thoughts? Ideas? What else am I missing?

Re: LTBcoin paper wallet

I tried it and as expected it works just fine. I wrote it up as a full blog post here:

http://letstalkbitcoin.com/blog/post/secure-ltbcoin-paper-wallet