Coin Burn: Discouraging for all XCP holders (long term and short term)


#1

@deweller While i do understand your point that you think having a coin burn is the best way to go so as to filter out the “serious” holders of your coin from the ones only wanting to get “freebies”, id beg to differ. Why so? Firstly, this move is pretty much unfair to hodlers or your coin most especially those ones who have held your coin for a long time up until now (my brother is one of those holders who held XCP since the BTC burn phase) and what has he gained from that? not much, considering the time frame he has held on to the coin. There is not much incentive being given by XCP to its holders therefore less people investing in it as compared to others. Like it or not, people invest in something because of this belief that they will gain something from it. Im amazed but at the same time pity my brother because up until now he is a firm believer of XCP even though he hasnt received much in return. However, it just is sad to think that despite this devotion and loyalty to XCP, he will need to be charged for something to test his devotion and seriousness to XCP. Its as if i were a venture capitalist who already agreed to pay a specific sum of money and half way through id be asked for more money in order to receive what I have expected to receive. This is pretty unfair to be honest and pretty much deterring as a investor, i dont know what will be my brothers decision in this but im 100% confident, theres a lot of hodlers who will and are pissed about this. Secondly, while it is true that giving 1:1 airdrop to the existing holders would result to more people wanting to get freebies instead of seriously participating in XCP activities, i do think this would bring tremendous benefit for your company. Why so? Doing this would put your company on the headlines of several social media. To put it in simple terms: marketing. Out of all the people wanting to get the free airdrop, im 100% certain that there will be a significant percentage of the crowd, that will research and find your company worth investing on even after the airdrop has been given (besides, the idea of XCP is amazing). So basically, you gain a substantial crowd from giving those free stuff away, its basically the laws of marketing. What is that airdrop amount in exchange for all the potential investors. To give you an example of XCPs current market influence, try searching XCP on twitter and the ones youll mostly see are coinbots, RSI checkers and trading signal inserts of XCP, try comparing it with the tweets having $ignis and see the difference for yourself, ignis has only been a recent fork as compared to XCP (no offense just trying to point it out). There are basically a few people talking about XCP and it was only until the recent hard fork + airdrop rumors that XCP tweets have risen and this is basically just from some random person talking about the rumor, imagine if it were the official account that tweeted it, news would prolly spread like wild fire. To end everything, id like to say this “what is the use of a great idea, if nobody except you knows it”. Idea is shit, without the proper execution so think carefully, if you want to get big, think big. i dont know if the developers of XCP would even bother to read this, besides im just a small time investor and its my brother holding big stakes and i guess they wouldnt care much on what i say but if they do, please think carefully. End of the day, its your call that matter and its your call that determines the future of XCP whether itd be a hit and a lot of investors will be jumping in or itd be a bust where investors are slowly getting out. Good luck


#2

@jamestacloban absolutely nailed it with this one and couldn’t agree more. Viral growth @deweller would receive after executing a 1:1 airdrop would be be explosive. All eyes would be on XCPC.

Come for the airdrop. Stay for the badass tech then show their friends.

This opportunity is absolutely incredible.


#3

I understand the argument you are making. It is a valid opinion. I just disagree with it.

I do not agree that XCP holders, no matter how loyal, are entitled to receive XCPC. The XCP chain will continue to function separate from the Counterparty.cash chain. XCPC will not detract from XCP. In fact, I think it may even raise awareness of XCP.

The better long term approach here is to launch XCPC from scratch with a new burn and a clean chain free from the legacy XCP chain.


#4

@deweller

You want to be successful long term but also want to start off by stabbing the entire XPC community in the back and making off with the Counterparty brand name?

anything other then a 1:1 airdrop is completely ludicrous. how is this even a debate.

Listen to the community!

1:1 is what makes you most successful in the long term!!! Commit to the 1:1 decision.


#5

Guys, I am ref to XCP holders, why push the limits? This guy is clear and unfortunately for him and his project, he won’t proceed with 1:1 airdrop. Why keep talking about it? Let’s move on. Many if not the whole XCP community will not support this burn anyway.


#6

How would long time, loyal XCP holders not be entitled to receive XCPC? They’ve already burned they’re BCH due to the BTC hard fork. What your asking of them and current believers in the counterparty project is simply unreasonable


#7

There are a lot of people who backed your XCP project. Because it was just that a project without the money to fund it. And that money came from all the xcp holders. I am sure you even have cashed out on some of the profits from appreciation of the tokens due to everyone who supported your project.

Now because you feel like it, you think you don’t owe it to those who made your project a success? Get off your high horse and do what is right by people. Or suffer the repercussions for your actions.


#8

Cryptoniac90 - five hours ago deweller posted “January 2018, XCPC is a community consultation period” -Xcp holder’s thought on xcpc

So the community is weighing in. Let them. Why are you trying to stop the discussion prematurely after one or two days? We have backed this project for, in many cases, between months and years. We have a right to participate as was requested.

If our money and support was asked for - and given - for all this time, you can’t just yank the tablecloth out from under us at the last minute, and then say “stop weighing in, move on.” Not going to happen.


#9

Yeah this is getting ridiculous. XCP will feel the reprocussions VERY FAST from the community. I for one, know if a tight knit crypto community of 20k strong who majority own large bags of XCP… including myself… and I’ll tell you consensus is NOT good for the future of XCP if the 1:1 airdrop does not occur. I for one will ENSURE I allocate all the time, resources, and efforts it takes to sink this ship if you decide to float your own.
This Dev needs to stop being so hubris.


#10

Like the OP’s brother, I am one of those who has held on dearly to his XCPs, I participated in the proof of burn and managed to burn 0.71 BTC. So confident and enamored I was by the secondary layer on top of the most secure blockchain technology in the world that I copied my private key on a piece of paper and left it in my locker, convinced that it will be worth an insane amount in a few years. It was often repeated by the founders that since its a deflationary currency and you are required to burn XCP to create tokens, what you had increased just by holding on to it. I was just blissfully happy to have my investment gather dust and value in cold storage.

I have shown patience in this investment, given it the time and the entirely of my BTC holding since its inception, so it especially pisses me off when I see the technology being usurped and someone thinking its a great idea to press the reset button, start over again with a set of new stakeholders.

Counterparty community are a bunch of rock solid people who have stood by the idea and the principles of the protocol even after the founders themselves were no longer involved. We have stood by in the hope and the knowledge that the only thing holding CP back was the scailability and the prohibitive expense of the transactions. I for one thought that with the advent of P2SH, MPMA, Segwit and MCAT things would start to brighten up. With P2SH implemented, LN channels with CP tokens support would be a matter of time. 2018 is the year that will make XCP.

Therefore the launch comes as both a shock and a betrayal. Development was at least partially funded by bounties contributed by the loyal XCP holders in the hope that these CIPs pay off in the long term. We parted with a little of our holdings so that what remains would ultimately gain more value. Would any of us have contributed to the bounties had we known that @deweller planned to simply duplicate it on a new chain and leave us high and dry?