My views on the XCPC launch


#1

@Deweller and other devs currently listening for feedback

I’m an XCP holder with a small stake
I’m also an ETH and BTC, BCH holder, with slightly larger stakes (naturally)

I’d like to thank you for creating this project and hopefully you’ll see it through. I’m ready to be a part of it and contribute in which ways I can.

It’s my belief CounterParty represented (and still represents) one of the most promising projects in the past several years- not just on paper but in practice,
yet thus far has not seemed to have taken off in the manner I expected by the audience in the way certain other projects have

I applaud all involved in the project who worked tirelessy on any work involving CounterParty, there were are still are a loyal subset of people consistently putting in work and that includes you. I think the future is bright with a lot of improvements to be made, and the future only contains increased focus on the ‘tokens on the blockchain’ I know of personally group working on venture launching q3 this year which should aid adoption- so I have very high hopes for counterparty in the future.

However, I digress. I also have high hopes for CounterParty Cash.
I personally believe this project has the opportunity to take off in a big way-
and has the chance at being the NEM to the NXT, if you will. It has the opportunity of building
on an established rock-steady framework that has been working well for 4 years now and has an attractive niche, and a tangible use case- no mean feat
of course, it only helps that Bitcoin cash offers faster transaction times and lower costs send, so I think this can be a real player in the space
and an alternative to those offering their assets up currently as ERC tokens.

I’m not inside your mind so I can only guess but you seem fairly dead-set from the get go on a fresh start with no XCP redemption.
I can only speculate either 1) you have become jaded at the lack of progress, despite you and others working on the XCP project and truly beleive the best way is to start fresh or 2) perhaps in combination with 1 you’ve also sold off XCP stake/had some form of dispute with those in the project there and therefore have strong reasons not to ‘reward’ any XCP holders. Could be off base
but that’s just an impression I get as an outside observer in this ‘community feedback’ thus far.

I do respect and get your argument about a ‘clean slate’ or fresh start, but I largely beleive the ‘clean slate’ naturally comes in the form of u a new project with an early influx of optimism and attention focused on it.

You have the opportunity to attract a dedicated set of users to this new project- People who were instrumental in keeping the project alive in
it’s current incarnation- those willing to

  • document, blog, post, evanangelize, interact in the community
  • hack, break, report, test, discuss.
  • build assets, create assets, register assets, trade them
  • build value-add services up to compliment the ecosystem. etc

Nobody knows more about the workings of the counterparty system than people already involved in counterparty.

Should those holding XCP get XCPC they will be building block explorers, registering more assets, discussing on shows, filling slack channels, building token swap bots
and more. From the get-go you will have activity and buzz.

There are names I recognize here from years back.

Therefore I’d actually posit that the ‘average’ XCP holder is LESS prone to immediately turn around and flip their mined XCPC for a profit than if you awarded it
to anyone willing to burn already ‘free’ BCH.
,

Perhaps if you’re not fixated on the idea of 1:1 fork perhaps consider alteratives

Some proposed alternate distribution mechanisms.

A) Reward 1:1 both XCP AND BCH in the form of XCPX.

B) Allow XCP --> XCPC burns. (No snapshot) You also have the option of ‘burning’ ETH & BTC too if you wish to create a larger pool of participants with skin in the game. There is a huge market for ETH right now.

This addresses your point #1 "When you give people something for free, they don’t value it. When people pay for something they value it."
and additionally allows extra sets of fresh participants to the project (those coming from eth ecosystem, or vanilla btc, or just outisde of the XCP realm to contribute)

you’ll notice I didn’t put burning BCH into the list there- that’s because like you said 'when you give somebody something for free, they don’t value it’
BCH was given for free to anyone who was holding BTC at a certain date. Anyone who burned BTC for ETH or burned BTC for XCP or who was holding XCP or ETH did not get this free BCH.- that was a sacrifice they made

Also to address the last point-

The XCP chain is polluted with squatted asset names. We need a fresh start on the BCH chain. Counterparty.cash will be about real projects with real active users.

Whilst this might be a valid concern I fail to see how this is a strong argument towards starting fresh- ie how you could reasonabily ensure assets are not squatted on BCH chain, unless you have specific assets in mind and you are the one planning to register first – who’s job it is to police such ‘squatting’ or pollution anyway in a free decentralized open market? If I’m not mistaked the minority view of at least one militant bitcoin dev was that using bitcoin for counterparty style transactions was also considered ‘polluting the chain’… besides, the redemption of XCP to XCPC underlying token does not have to be conflated with honoring the assets already existing on CounterParty, although of course that’s a discussion in an itself


#2

As a long-time supporter of XCP, I would also like to thank the devs for this project.

I also share most of @pop’s views including the points about the asset squatting. There may be even more squatting on BCH.

Burning BCH again does not feel right because the original BTC/BCH were already burnt over 4 years ago. If we think about it, it is obvious that BCH is much more valuable today because it did not start over.

Since the beginning when the bitcoin devs were trying to block counterparty, I remembered that there were talks of what to do in case things stopped working. The plan was to take a snapshot of the db at some height in the future and move everything over to another chain like litecoin.

So what is the best way forward? I believe we must think long term into the future. For example, starting with a snapshot of the db at the time of the BTC/BCH split in August is not the best way forward because it sets a precedent of reversing many transactions. Another example, let’s say more BCH are burned to make 5 million XCPC. Years from now, when XCPC can no longer work on BCH, how will XCPC move to another chain? More burning? In the long term, the more coins we burn the more splits we create in the community and the weaker the protocol becomes compared to other platforms.

With all that said, I plan to give this project my full support however it moves forward because I believe that it will help to improve XCP in the long term.


#3

I am really happy to see counter going also under cash.
I am really sad and even shocked what about only 1 person deweller is talking here.
I just can´t get how he can be suggesting burning as old counterman.
I have been supporting counterparty on my way as holding xcp from the beginning.
I can´t see how burning would be the fairist way. Is it fair for me after holding 4 years xcp that
I have to loose 1 bch more while non countermans get xcpc as free?

There is not any benefits on burning, even disadvantages. The only way is fork and 1:1.