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General Discussion / Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« on: October 08, 2014, 11:44:50 pm »My only fear is that they figure out how to use Open Transaction federated servers to track the Counterparty Open Assets. That way the Assets would be verifiably on the BTC blockchain and could be traded even faster than BTSX assets. Various issues such as BTC blockchain bloat and Open Transactions centralization might remain an issue even in that scenario.This is what PhantomPhreak (Adam Krellenstein) wrote here https://bitcointalk.org/index.php?topic=395761.msg9115341#msg9115341 :QuoteEverybody, there is an enormous amount of misinformation going around in the press. We're working to fix that ASAP. In the meantime, please help us correct errors as you see them!
For the record:
1) Overstock.com and Counterparty are partnering to build a platform (Medici) for trading stocks on Counterparty and using Counterparty's decentralized exchange.
2) I, along with Ouziel (JahPowerBit), will continue working on the Counterparty protocol full-time. Robby and Evan will continue to work on Counterparty full-time because Medici is a front-end for Counterparty.
The Wired and Coindesk articles make it sound as though we are abandoning this project. Nothing could be further from the truth!
Thank you,
Adam
I think this is good news for our community, as Bytemaster pointed out in this thread, Counterparty platform is too slow and transactions cost is too high to be a real competitor for BitSharesX. The work on the legal side they are going to do should benefit entire crypto finance industry.
is there anything keeping them from "upgrading" counterparty's tech in some way that xcp is no longer really counterparty...and then keeping the name for brand recognition?
OT is supppsed to come out in December, so who knows what happens.
The irony of course is that BTSX delegates might become the most trusted OT servers.