Class Action Lawsuit Possibility


If a burn happens against the wishes of the XCP community I am going to look into what legal resources we have if the name XCP name is used for the cash equivalent.

We all due respect to the devs, your project would not be a reality without the money we have put into it. To actually just enjoy the benefits of the past 3 years on our dime and now leave us in the dark is not ok. And if you think it is just a bunch of kids without resources who are against this burn you are mistaken.

There a lot of people with the means and resources to take this all the way if you go ahead with the burn against everyone’s wishes. And this won’t be over easily.

I hope however you respect the wishes of the community and forego the burn for the fork everyone wants. Hopefully cooler heads will prevail.


I am in full agreeableness with this proposal. I too have been seeking out legalaities with my attorneys in NY about all of this.
Make NO MISTAKE; these are real dollars, not a bunch of kids at play, and I won’t be standing quiet about this. I’ll spend 100x more than I invested on xcp for lawyers and do the whole shibang with you and XCP in court because to me, it’s simply about ONE thing—principe. I live by principle and it’s the process of getting something right in life that is truly far greater and more significant than “being right” … so I hope you consider the former of figuring out the proper process of making this all right…and I hope cooler heads prevail as “heyitsme” mentioned above.


You win.

I am a volunteer developer on this project without any legal representation. Even the threat of legal action makes this not worth it to me.

I hereby withdraw from this project.


That’s sad to see. And i’m not being sarcastic. I beleive the threat of legal action (however true- and I have my doubts) was a route that was not appropriate towards you.

If this is true and you have not taken the decision to abandon ship this suddenly. What is to become of this project- do you just leave and let the domain expire and quit development efforts? Are there any others involved- do they choose to also step down or to continue forward?

This is/was a good idea. As a collective there is no use letting this vision waste away.


You need to realize that your stance is not in alignment with the community as a whole. You are standing on flimsy moral ground.

You want to reap all the benefits of using the counterparty name and leaving all those who afforded that name its validity, behind.

This is not just a moral thing here. People are substantially affected by this and you are trying to turn a blind eye on this on some flimsy moral ground. Like I said I had wished cooler heads had prevailed. But it is what it is.


i agree if this all happens please list information id like to be included in this lawsuit we should all hold the dev responsible for their actions this is unacceptable.


Just change it to “countercash” or some other name.


i will stick to counterparty cash which will be an airdrop to existing counterparty holders - it will happen eventually - with this team or not


After seeking legal advice and at the suggestion of contributor(s) we will make a statement later this week.

Moving forward the project will provide for a lead in the form of an incorporated Association to assume full legal liability for the project roadmap and implementation.

It is not tenable to have individual contributors targeted in the manner outlined in the OP.

Thank you,

Julian Smith,
Founder, CEO
Blockfreight, Inc.



How can one bring legal action exactly?

Isn’t Counterparty open source?


Dear Julian,
Thank you very much for opening this forum for us.
According to your previous comment, I believe you are planning to make new announcement around end of this week.
I am wondering if you could reveal any outcome since then.

Many thanks!


What happened was I had a teny-tiny, little too many back-to-back Blockfreight, Inc. meetings at BTC Miami for the partnerships we want to work on in 2018.

I will complete the announcement page for and publish later tonight now I am back in San Francisco (Internet / Hot Shower / Time to focus).



Hi Julian,
Thank you for your prompt reply! Please take your time and relax, then make your best decision based on your own idea!
Regards xx


Will there be news dropping today? :slight_smile:


Lol there’s almost zero value to the name “Counterparty.” Do you think anyone’s heard of Counterparty? What world do you live in? I’m interested in using the technology, not the name “Counterparty” that I heard of like last week. Why not just let these fools have the name “Counterparty” and rebrand, I saw the name “cashtokens” suggested, seems fine to me, doesn’t matter at all. Pretty easy to come up with a name that’d work better for mainstream branding than the standoffish too-underground-for-you tone of “Counterparty” anyway tbh.


I agree with the rebrand.

pepecash community is toxic, xcp looks like it was dying/ dead from fees, these folks look like anti ETH bitcoin maximalists

hypocritical to chant ‘bcash’ and then look to this project for something.

I don’t think the value of this coin matters, the utility does. it’d be poison to drag along a mass of those only concerned with hodling profits and having a distaste for Bitcoin cash.


At this point they’ve taken the brand far enough off the rails that we need to seriously consider how much keeping this brand name might take us off course as well. Like, if we’re trying to explain to people how this is a serious tool they can use to do real business and get things done, is it OK if they google “Counterparty” and get a bunch of shit about Pepe cards? Are they still going to take us seriously if we associate ourselves publicly with these clowns in any way?

There’s a project already named CashTokens so I guess that’s a non-starter. Unless we’re struck with a brilliant idea we should probably hire a company that does names to make us one that could actually have some mainstream appeal.