Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
i dont recall that the 0.3% is taken on btc trades, only meta coin trades. then the msc fee is burned which lowers the total supply of msc.
Sorry, but it's true.
The BTC fee isn't burned though, it goes directly to J.R. Willett.
i don't see a well thought out economic model for xcp. don't take offense guys, we all have met in person, but this part needs to be boned up a lot if you all are going to be able to eat.
P.S. Your point is actually exactly the same I have been trying to make. Mastercoin was made to pump its own value artificially and make MSC holders rich at the expense of others. Just because Counterparty isn't fuelled and motivated by greed, does not mean it doesn't have inherent value.
Satoshi didn't create Bitcoin to get rich, and Counterparty devs did not create XCP to get rich. They want to make the ecosystem healthier and a better place, not run a get rich quick scheme..... There's enough pump and dumps around if you want to focus on that...
Really? Satoshi didn't create BTC to get rich? Have you asked him why he hasn't distributed to charity the 1 million or so btc he mined?
I will have to speak to mastercoin dev's about that bitcoin part, i don't recall a discussion where that should have been the case regarding issuances. regarding the exodus fee they just havent had time to take that out...
the mastercoin foundation is there to develop the master protocol and ensure that mastercoins have some value through uses. that is not a pump and dump, that is called being a rational economic actor.
you probably don't get that and that is why xcp will continue to devalue relative to btc. (hey if i am wrong i have a shit ton of xcp
) currently the only inherent value is attached to the issuance fee... oh those greedy developers making people pay a fee.anyway anyone investing money into people that have some pie in the sky idea should ask VC Matt Ocko of what he thinks of investing in dreamers. He also invested many millions into a digital encrypted virtual economy way back in the 1990s, he can tell you all about how that worked out.
I am very confident time will prove me right on this point, and like I said if I am wrong I will be laughing looking at my balance sheet.