And here's a
HEADS UP for an unanswered question on Counterparty in the Alternate currencies section -- a great opportunity to engage some more folks. We need a few people setting up Google Alerts for Counterparty / XCP etc, on bitcointalk and maybe elsewhere.
I'm very interested in the new Counterparty technology given the successful burn period of XCP. I've been reading everything I can find on it, and I understand how it's an information layer built on top the BTC protocol, and can be used for betting and issuing "shares", etc. However I'm still foggy on a lot of details and I can't seem to find a clear, dummies style explanation of the tech. Could someone help an idiot like me with some basic questions?
One thing I don't understand is how the value of an individual unit of XCP is determined. I know right now it's trading at a certain amount relative to BTC based on scarcity since the burn period is over. Down the road will it trade on utility (i.e. I need one intact unit of XCP to issue shares in my company) or will the value be determined by the assets that it backs?