Bitcoin Forum

Good morning all,
The last few days, I have been laying low so to speak not making many waves with CGB. The purpose was to free up some time for creating improvements to the currency thru coding and also scripting the second wave of promotional campaigns. Currently, just under 160,000 CGB have been mined (~16%) of the total. Mining difficulty is the lowest it has been since launch at .05 so there is a lot of easy mining to be done. If you are taking the time to read the fine print here, point some of your hashes at CGB, you will not regret it. I would like to take a moment to outline some of the news on the horizon for Cryptogenic Bullion:

1) New binaries will be released for download and use in the coming days via an official re-release notification. The edits to CGB will be to the block reward payout structure. Currently and thru the first 50k blocks (500,000 CGB) the block reward is 10 CGB per block. After half the CGB are mined, this block reward will halve to 5 CGB per block. This halving mechanism will continue to occur forever after each 50,000 blocks are mined. (i.e. Reduction to 5 CGB per block after 500,000 CGB are mined, then a reduction to 2.5 CGB after the next 50k blocks, etc.). This will continue until a baseline subsidy reward of 0.01 is hit where it will remain for eternity (0.5% yearly inflation). Obviously this will lead to a self imposed rate of diminishing returns pushing the scarcity concept while keeping the mining work active. Again, I strongly suggested mining now while the block reward is high and the difficulty is low.

2) An official CGB website will be created and launched. I have noticed the genius of this activity recently with MegaCoin and will be borrowing this from their playbook. (Note: if you are interested in being a part of this project, bounties will be offered for contributor roles - scaled based on level of contribution). Once the website is finished and launched, a Chinese version will follow very shortly.

3) Look for some promising news very soon on being added to a major exchange...


That is all for now. Thank you all for your support!

I just commented on your official launch thread:

What is the issue with the wallet? It's not connecting even after I added nodes. Here's what get info says:



{
"version" : "v1.0.0.0-g32a928e-caps",
"protocolversion" : 60006,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 0,
"moneysupply" : 0.00000000,
"connections" : 0,
"proxy" : "",
"ip" : "0.0.0.0",
"difficulty" : 0.00024414,
"testnet" : false,
"keypoololdest" : 1373297354,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"errors" : "WARNING: Checkpoint is too old. Wait for block chain to download, or notify developers."
}

Just started mining this, but will probably stop soon if this is not addressed.