Quote from: BldSwtTrs on January 05, 2014, 11:40:23 PM

I just make a test transaction using blockchain.info : 003ecc99cb3533920f2ce26136605b5b051245acfd823f559d7d1a27c37b642f

Can someone with counterpartyd check if I have the XCP before I burn more BTC.

It looks good. You burned .01 BTC and got 14.58363636 XCP in return.

Quote from: xibeijan on January 06, 2014, 01:02:36 AM

Quote from: cityglut on January 05, 2014, 11:36:07 PM

Quote from: xibeijan on January 05, 2014, 11:03:57 PM

Quote from: cityglut on January 05, 2014, 05:00:34 AM

Let's say I want to put out a broadcast with a fee of .01 (or 1% of the bets made on the broadcast) - it would look like this:

python3 counterpartyd.py --rpc-password=PASSWORD broadcast --from=ADDRESS --text=TEXT --fee-multiplier=.01

The text of a broadcast is a string. If you want to publish a value later on, then the syntax is:

python3 counterpartyd.py --rpc-password=PASSWORD broadcast --from=ADDRESS --text=TEXT --fee-multiplier=.01 --value=VALUE

Does that help?

I don't understand why there are two commands nor what they do.

For the first command, is the fee of 0.01 something I have to pay?

For the second command, do I need to pay for each update I make? If so, do I pay in BTC or XCP? Finally, where is this information stored? In the bitcoin block chain OR does counterpart have its own block chain?

Thanks.

No, the fee is something those who are betting on your feed have to pay. The fee is basically meant to incentivize the issuer of the feed to maintain the integrity of the feed (both updating it regularly and not tampering with it). In my opinion, feed-issuers have the added incentive of developing a reputation: the more often they maintain their feeds to the satisfaction of those who are betting, the more trusted they will become, and hence the more often betters will bet on feeds issued by them.

You have to pay the standard Bitcoin fee for making a transaction each time you update your feed, yes.

The information is stored in the Blockchain. Counterparty does not have its own blockchain; Counterparty transactions are made on the Bitcoin blockchain.

Thanks to all.

Is the fee they pay for using the feed in BTC or XCP? Is the standard Bitcoin fee I have to pay the min bitcoin TX fee of 0.0001 BTC?

So, when I transfer XCP I need to pay a 0.0001 BTC tx fee? So, while using CounterParty I am spending both XCP and BTC?

Can I switch back and forth between the mainnet and testnet (bitcoind and counterpartyd) without causing any problems? Anything I need to watch out for?

The fee paid to a feed operator is in XCP. It is a fraction of the bet, which is in XCP. Yes, the BTC fee for every transaction is .0001 BTC.

Simply transferring XCP, for example, does not incur an XCP fee.

Yes. The two should run together without a hiccup.