For the POS to work do we need to keep coins stationary in our wallet for 30 days, or can we add/remove coins from our wallet in the 30 day period?
The funds must remain stationary for at least 30 days. By unlocking your wallet (necessary for minting PoS stake reward/interest) every 30 days, you will earn interest of 1.2% annually on your holdings. If you unlock your wallet every 90 days, you will earn 1.5% annually on your holdings. So it is recommended to take the easier route of every 90 days and earn max interest. |
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I hated CGB for a long time, thought it was just a stupid gimmick coin that was gonna die and go into a deflationary spiral as soon as it was all mined. I am glad to see a small amount of inflation has been added mainly through PoS. I know inflation can be a bit of a dirty word in the crypto world, but a small amount to secure the block chain and ensure a steady stream of CGB continues to trickle into the market to keep it usable as a real world currency is a-okay in my book. I am a believer now, gonna buy up a few thousand while the price is low. Keep up the good work and hope CGB can get into china soon!
Welcome sixteendigits! |
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No prob  |
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Sorry about the newbie question.
That means only around 62,000 coins are left to mine (takes around 9 months with the current rate) and what happens when thats done?
How will be the interest paid once the mining is finished?
Thanks.
The mining you are thinking of is via PoW with which the subsidy payment (block reward) will continue halving every 50k blocks until a baseline of .01 CGB per block is hit where it will remain forever. About .5% yearly inflation. The PoS interest is another form of mining which pays based on holding CGB in your wallet for longer than 30 days (also helps secure the network). This mining will continue at a rate of 1.2-1.5% interest per year. Essentially the maximum inflation per year for CGB once the baseline PoW subsidy is hit is about 2% (1.5% PoS, .5% PoW). Hope this helps to clarify. |
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After doing some research, I do believe this coin is much undervalued. There are only 1m of this coin but the current price is only $1. I don't understand what causing this coin to be so much undervalued? Anyone know? Any I can see this coin will move up a few x in the near future. So I just bought 1k and may buy some more later on if anyone could answer my question.
Hard to tell my friend. For whatever reason, CGB has been ignored by a number of exchanges thus far (despite a long stint as a top 10 market cap coin with top 10 volume) limiting CGB's exposure. The frenzied wave of clone war coins have essentially pushed CGB out of the limelight. We continue to work on development, pushing the envelope and maintaining blockchain stability. CGB will rise again, far too much going on for it not to IMHO. Why CGB not listed on Bter? I am sure it could rise a lot more if it can attract more Chinese investor's attention. I am a Chinese investor so I will try my best to promote this coin in the Chinese community. Thank you Percy! China has been a target for CGB for some time now, one of our first website translations was to Chinese to facilitate this. Obviously we have yet to break through so Chinese community support is critical and helpful. Are you in China? I am curious to get clarity on what the Chinese New Year crypto ban actually means as this is very unclear to me and others I am sure. BTW, we have reached out to Bter and BTC38 numerous times to no avail, FYI. |
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After doing some research, I do believe this coin is much undervalued. There are only 1m of this coin but the current price is only $1. I don't understand what causing this coin to be so much undervalued? Anyone know? Any I can see this coin will move up a few x in the near future. So I just bought 1k and may buy some more later on if anyone could answer my question.
Hard to tell my friend. For whatever reason, CGB has been ignored by a number of exchanges thus far (despite a long stint as a top 10 market cap coin with top 10 volume) limiting CGB's exposure. The frenzied wave of clone war coins have essentially pushed CGB out of the limelight. We continue to work on development, pushing the envelope and maintaining blockchain stability. CGB will rise again, far too much going on for it not to IMHO. |
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Ok, I think I like the new website and I like the cards...besides those things, what is this years gameplan for the coin's adoption? With only around 1 million coins, it seems like we would need just a fraction of the adoption that bitcoin and litecoin has to increase the coins value to atleast $100 a piece? Do you have list of goals that you are following, and if so could you put out one for the community so that we can help with whatever we can? I would love to help make this coin something great and soon! Please PM me or place on here a outline of what needs to happen for CB to skyrocket!  Due to the constant state of flux in the crypto landscape, we must be flexible and continue to adapt and change the priority of projects as necessary so it is difficult to give concrete milestones and timelines. The main focal points however for 2014 are: technical development and community growth. Those in the community such as yourself can help tremendously in the area of community growth by spreading the word of CGB and its differentiation that makes it something special - i.e. social media, chat rooms, merchants, videos, forums, technical write up guides, exchange requests, etc. Should you have particular technical skills and ideas that you think would be beneficial to CGB's community and success, please feel free to contact us via the website to discuss. We are currently a team of 3 with a 4th potential member in an evaluation stage as we speak so we continue to grow our manpower to address all of the lofty plans that we have and continue to dream up. Here are a few of the specific projects that are in development now: 1. MADEsparq 2. New website 3. Additional translations 4. CGB dedicated forum 5. CGB client 2.0 6. Continued push for addition to exchanges 7. Growth of the CGB community and development team 8. Advertising, advertising, advertising Additional details and projects will be revealed in time but lets just say there is a lot being done in the background. Thank you for your support and offer to assist; community adoption, ownership and responsibility for CGB are in my opinion critical to CGB's success. You can see everyday more and more people getting a stake and getting involved. The current price-point is a delicious entry invitation and of course all are welcomed with open arms. We are all very excited about the projects and developments in the pipeline and look forward to working in tandem with the community. |
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Final Cryptogenic Bullion Cards - 1st draft - Premiere Edition. Rounded corners and fully black text to further enhance the metal / 'bullion' featured. The Silver and 9ct Gold pieces have arrived in stock to start production. The technique for setting the metal has also been improved for production. 100 Premiere Edition cards (approx.) for each metal will be produced with demand.  The 1st - Premiere Edition - 2 card set should appear on ebay over this weekend. The aim being to attact physical metal / coin / numismatic collectors to the world of crypto-currency and specifically CGB. The auction will include one of finitebydesigns hologram cards pre-loaded with 1 GCB. Link to follow. Great work my friend! |
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Teaser time... |
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Thanks for adding an analysis on CGB. Nice to see research and logic employed in this market where at times it seems there is none. |
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Giveaway has officially ended per the new rules established by Bitcointalk https://bitcointalk.org/index.php?topic=434310.0 Trail48 received the last giveaway through these forums, congrats! I will conduct periodic giveaways through our other social media outlets (Twitter and Facebook) so be sure to keep in touch. |
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Bookmarked and will be watching. Very good analysis and logical approach.
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Whats the current reward payout for a solved block?
PoW reward is currently 0.15625 CGB per block 1 block every 60 seconds 225 CGB per day |
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I have been amiss in following this thread, my apologies. MADEsparq development continues. Please follow CGB's lead developer, Mercury Stills, blog for updates as they are released: https://cryptogenicbullion.org/#blog |
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I've had some CGB for a little while and I wanted to try to mint proof-of-stake blocks. Therefore I opened up the QT client and waited for it to sync. After getting up-to-date, I'm getting a weird warning:
"WARNING: Checkpoint is too old. Wait for blockchain to download, or notify developers."
Well hovering the mouse over the same warning shows: "Up to date ...", so this is me notifying developers.
What shall I do to fix this warning? It seems to be preventing me from minting my POS.
You will have to download the newest client with the newest checkpoints from the website: https://cryptogenicbullion.org/#downloadAha, doing that now. Thanks for the quick reply. Ok, I'm still getting the same message after updating to the latest version I found on your google drive for linux. This is the version string: v1.1.6.5-gdf9d55a-cgb Still has the checkpoint too old warning and says blockchain is uptodate. What should I do to mint my stake? Please do as suggested here: https://bitcointalk.org/index.php?topic=245086.msg4173405#msg4173405Ok, so I have to redownload the blockchain. I can do that. Also, FYI, you must have at least 1 CGB to earn interest. Someone had mentioned having 0.5 before, I don't recall who it was though.
Oh really? I only have 0.55, but yeah, why the floor on interest earning? That's just the way PoS is set up, sorry. PM me your addy and I will send you .45 to get you whole. Then give it 30 days.  PMd ya. Thanks for the support and the generous offer! No problem, thank you for your support. |
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I've had some CGB for a little while and I wanted to try to mint proof-of-stake blocks. Therefore I opened up the QT client and waited for it to sync. After getting up-to-date, I'm getting a weird warning:
"WARNING: Checkpoint is too old. Wait for blockchain to download, or notify developers."
Well hovering the mouse over the same warning shows: "Up to date ...", so this is me notifying developers.
What shall I do to fix this warning? It seems to be preventing me from minting my POS.
You will have to download the newest client with the newest checkpoints from the website: https://cryptogenicbullion.org/#downloadAha, doing that now. Thanks for the quick reply. Ok, I'm still getting the same message after updating to the latest version I found on your google drive for linux. This is the version string: v1.1.6.5-gdf9d55a-cgb Still has the checkpoint too old warning and says blockchain is uptodate. What should I do to mint my stake? Please do as suggested here: https://bitcointalk.org/index.php?topic=245086.msg4173405#msg4173405Ok, so I have to redownload the blockchain. I can do that. Also, FYI, you must have at least 1 CGB to earn interest. Someone had mentioned having 0.5 before, I don't recall who it was though.
Oh really? I only have 0.55, but yeah, why the floor on interest earning? That's just the way PoS is set up, sorry. PM me your addy and I will send you .45 to get you whole. Then give it 30 days. |
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I've had some CGB for a little while and I wanted to try to mint proof-of-stake blocks. Therefore I opened up the QT client and waited for it to sync. After getting up-to-date, I'm getting a weird warning:
"WARNING: Checkpoint is too old. Wait for blockchain to download, or notify developers."
Well hovering the mouse over the same warning shows: "Up to date ...", so this is me notifying developers.
What shall I do to fix this warning? It seems to be preventing me from minting my POS.
You will have to download the newest client with the newest checkpoints from the website: https://cryptogenicbullion.org/#downloadAha, doing that now. Thanks for the quick reply. Ok, I'm still getting the same message after updating to the latest version I found on your google drive for linux. This is the version string: v1.1.6.5-gdf9d55a-cgb Still has the checkpoint too old warning and says blockchain is uptodate. What should I do to mint my stake? Please do as suggested here: https://bitcointalk.org/index.php?topic=245086.msg4173405#msg4173405Also, FYI, you must have at least 1 CGB to earn interest. Someone had mentioned having 0.5 before, I don't recall who it was though. |
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I've had some CGB for a little while and I wanted to try to mint proof-of-stake blocks. Therefore I opened up the QT client and waited for it to sync. After getting up-to-date, I'm getting a weird warning:
"WARNING: Checkpoint is too old. Wait for blockchain to download, or notify developers."
Well hovering the mouse over the same warning shows: "Up to date ...", so this is me notifying developers.
What shall I do to fix this warning? It seems to be preventing me from minting my POS.
You will have to download the newest client with the newest checkpoints from the website: https://cryptogenicbullion.org/#download |
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