how get to $50 per cbx?
First we get to $5 per CBX - road-map projects should get us to this point at least. At that point development will be permanently funded and continue as well as incorporate more assistance (coding, advertising, etc). |
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How does one tell his wallet how much of the coins in the wallet to stake? Or is it always 100% of the coins in the wallet?
Your Vault will stake all coins in it. |
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so are you saying in other words, that you do not get a percentage for staking? but are in esence, competing for POS? I thought POS was like interest% not mining?
The idea about PosP is interesting but since there is competition between open wallet, those who have few coins cannot compete against those who have large stash. I believe this only benefits those who have huge bag of CBX. Not a small holder friendly. It is not participation but rather competition. Depends on how many CBX you have and how much competition is out there staking against you. After 1 hour online your CBX is eligible to stake and once you do get a block, another hour must go by before you are eligible again. How many are staking?
If they can address the issue of the competition but give an equivalent share of stake of the coins that are not currently staking to those open wallet would be awesome. Couple of things here: In traditional PoS one would receive a set percentage of annual interest on their coins, let us use CBX's 2% inflation in this example. In order for one to receive this, they would only have to open their wallet periodically based on the settings - typically every 30 - 90 days, receive the payment and then close their wallet. The coins they own are doing very little to promote security or confirm transactions and they still have to compete against other wallets (days * coins equation for priority of staking order). In PoSP this structure is changed forcing stakers to 'earn' rather than just receive. Earning PoSP interest is dependent on contributing to network security and transaction confirmations. In order to do be eligible, one must keep their Vault (wallet) running and after a period of 1 hour, they start to compete for the blocks occurring every 65 seconds. Larger wallets will win more blocks, this is true but they still have to wait 1 hour after staking and compete with the smaller wallets that are accumulating via the 'days * coins' equation - just like the traditional model. The end result here is that everyone who owns coins and stakes continuously will earn 3-6 times higher interest (6% -12% annually) then they would in the traditional model since all coins will never be participating at all times (coins at exchanges, in cold storage, lost coins, etc). We prefer this model of rewarding those who participate in supporting the network to one that just pays an interest for owning coins. |
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How long does a wallet have to stay open and staking to see any gains?
by the way, it is updated.
Depends on how many CBX you have and how much competition is out there staking against you. After 1 hour online your CBX is eligible to stake and once you do get a block, another hour must go by before you are eligible again. How many are staking? |
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Masternode addition is good idea, but keep inflation at 2%, it's a great selling point.
This selection is the consensus leader at this point. If you have not voted and want your vote counted, please get it in asap. We have a couple other algo parameters to put to the community for voting so this one will have to close. BTW - Financing for our development plan has been secured and we are making our road-map publication announcement imminently! |
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So, the blocks generated are lost blocks? Or, will they "come to life" once I have the entire blockchain downloaded?
You will have to sync the blockchain before your Vault starts attempting to stake your funds. |
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So, my question is, which is it?
Both. Your Vault is unlocked but it will not start staking until you have synced to the current block. Hi, I had not opened my wallet for over a year. When I did so, my wallet was very behind. I have been downloading the blockchain for several days now and it seems to be going fine.
No need to wait for the Vault to sync. You have 2 options to speed this process. 1. Download the files from the bootstrap download in the OP and replace them in your CryptoBullion Roaming folder. This will get your Vault synced to the date the files were copied - June 13th. 2. If you want an easier method, close your Vault, download the CBX Troubleshooting Tool via the link in the OP, place downloaded file (CBX Tool.exe) into the CryptoBullion folder containing your Vault, double click on the CBX Tool.exe and then click on 'Download and install bootstrap' button. The tool will replace your blockchain with the updated one from the 13th and then you just have to let the last 3 days sync. Option 2 - the CBX Tool will be included in future Vault builds rather than being a separate download so users with the next Vault version will just have to click the download and install bootstrap button from inside their Vault to sync when they are new users or users that have been away for a while. |
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wow that bootstrap link on page 158 of this CryptoBullion is a very slow download, is there any place else to get it?
That one is from last year. Grab the one off the OP, it is from May 1st. We will get up a June version soon. |
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Is speed all that essential for a store of wealth? Have you ever tried moving gold arround? It's not quick. CBX is not, and has never been setup to be a currency (there an almost infinite number of those now) - surley transaction times are not top of the list if it results in blockchain bloat...  FR I understand you perfectly FR, my point however is that we have speed now, why abandon that if not necessary. Blockchain bloat has a workable solution at this time and we will be improving that further with the upcoming fork. The new Vaults will have the memory usage issue solved and will incorporate the 1-click solution bootstrap installer directly into them. All a new or old non-synced user would need to do is click a button in their Vault to download the most recent updated blockchain bootstrap. Progress update: Things are progressing well behind the scenes. VonSpass has created the first draft of the road map and after we finalize internal discussion and gain consensus, this will be published for the public. It looks like option 2 is well ahead of the other options in the poll. If you have not been counted and want your vote to be tallied, please get it in soon. There will be some other opinion polls we need to put out for the community in the very near future and we can only run 1 at a time on here so this poll will have to close soon. BTW - CBX will turn 4 years old on the 28th of this month! |
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What technique do you want to use for transaction anonymity? Bullion Participation Nodes - essentially masternodes that pay out an annual inflation rate of the total CBX in existence among only the nodes that are participating - similar to how PoSP operates. This will allow for a far higher return for node runners as all owners will not run nodes; so those not operating a node forfeit their share of earnings to those who are operational. I hope there will be an online wallet with an api in the next roadmap. I think you will be pleased  |
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Hey digit and FR, thanks for chiming in. However it seems like so far we are in the minority regarding interest rate voting. I really do not think the current low interest rate is an issue because in the current PoSP implementation the actual earnings one gets is close to 10% annually right now - and as we know this has not made a difference in popularity. However if option 2 is what the community wants, at least the potential bump up to 2.75% overall inflation would still result in a very low inflation rate - so either way I do not think it will be a major deal to us CBX/CGB oldschoolers. I will support what the community wants with the vote. As far as slowing block time, I personally do not like this idea. One of the great things about CBX is its ultra fast transaction time. One major flaw with BTC is slow transactions. It is not ideal for a usable everyday currency. CBX with its block time, inflation rate and count of coins in circulation has the perfect recipe to act not only as a store of wealth but also as an everyday currency. This should be kept imo. the focus should be on long term holders and stakers and improving the wallet and network for them. (eg: optimizng the wallet, fixing bugs, updating the base code with newer btc source) Agree, and all of these items are being addressed with the upcoming hard fork which will include a new code base rectifying the memory usage problems/bugs, in-Vault trouble shooting & bootstrap loading 1-click solution (will allow all users new and old non-active users to sync quickly regardless of blockchain length), transaction anonymity, Bullion Participation Nodes (BPN) offering higher earnings to those participants locking away larger stakes in CBX, in-Vault metrics of individual user staking rates (BPN and/or non-BPN), potentially a slight change to inflation resulting in substantial staking gains for network participants through the PoSP structure (all inflation split between the active nodes only) and a to be determined via community vote method of development funding built in so that ongoing maintenance and development of CBX can continue indefinitely. |
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In line with what Alex said and keeping our historical record, perhaps we could simplify current workaround further by incorporating the troubleshooting tool directly into the Vault download. So when one downloads the Vault they are presented with the option of importing the existing bootstrap kept updated by CBX devs or they can sync from 0.
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Excellent feedback and discussion guys! Putting the memory usage issue aside (this does have to be and will be addressed). I would like to get some feedback on the blockchain bloat issue. Yes we have 4 years of transactions creating a large blockchain, however this is not uncommon and simply a result of he way blockchain tech operates. We have done some things to remedy this issue, first being the bootstrap file which users can place into their roaming folder. To take this a step further, Alex created a downloadable troubleshooting tool which will insert the newest version of the bootstrap for the user in a 1 click solution. I am not sure if people have not seen this tool (it was announced here, twitter, facebook and in the OP) or if people are having difficulty with the tool. Please advise, download link is below. https://mega.nz/#!WBs3HZjT!mAnYaJKjsYFVhdA8-WQ_EsvyBytiPJViHp4rI65-CVo |
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Let's talk about masternodes!I think there is something good with masternodes, more than a fad we should blindly follow. There are many advantages to adding BPN (Bullion Participation Nodes) to CBX - an even more reliable network, adding anonymity to the network, removing many coins from trading, thus making CBX even more scarce and facilitating the creation of a reliable mobile CBX app. I have posted a new poll, outlining how we see the possible implementations of masternodes to CBX; please select one, and perhaps voice your constructive opinion on this thread. Essentially, CBX holders continue to gain PoSP rewards, but we open 500 000 possible CBX to masternodes, at 10 000 CBX each. With option 2 as an example, we split 20 000 CBX yearly rewards between all registered BPN runners - this means that if 5 people lock in their 10 000 CBX each or 50 000 CBX then the 20 000 CBX reward gets divided among those 5 - or 4000 CBX each for a nice 40% yield! Large CBX holders will have the possibilitly of locking in more than one 10 000 CBX sum, in 10 000 CBX increments those will count as more nodes to the same owner. All this would work in typical PoSP fashion, online BPN or non BPN get all rewards for given block, essentially adding the Participation twist to traditional masternodes. Thanks VS, great stuff! I personally like option 1 but this is about the community/investors and future investors. Looking forward to putting together the white paper and working with Alex on implementation of whatever is decided. I think this will be a major attractor for CBX along with the rest of our soon to be published roadmap. Let's see how the vote plays out 🙂 |
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Hello all, Just wanted to shoot out a quick update. We are still ironing out the details but should have a new road-map published soon. Stay tuned! I hope you all will be as excited as us when you see it  BTW - if there are any out there with beneficial skill sets that would like to get involved, please PM me. |
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can anyone from the team contact Yobit ? their wallet is off for deposits / withdrawals
This has been done and does not help the issue. Yobit is the only one that can rectify this. |
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I think getting on Bittrex is needed to add value and increase awareness.
This would be good but this is not our decision. If you trade there, please submit request(s) to them to list CBX. Once we have enough of this occurring and volume picks up, they will list. CBX was listed there before so precedent exists. |
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all great ideas... however a funding and voting mechanism would be great.
a cbx exchange where fees were used to buy back and burn cbx (after running costs of course) is a great plan indeed.
this way we can create a savings and accumulation incentive and give good POS rewards.
I would scrap posp myself.
It is a great achievement for sure. However cheaper and less dev to just use pos3 latest black build. PosP does not offer enough major improvement over just building up of pos3 which most devs are working with now.
you guys have a lot of trust here since you stuck around and have always tried with this coin.
I think your exchange would do well.
The exchange would have to list the new coins or it would never take off. Lots of new coins would jump at an exchange run by cbx owners.
Trust is majorly important
Thank you for the feedback, as usual you bring excellent suggestions to the table. Can you elaborate on the funding and voting mechanism suggestion? Also, I understand what you are saying regarding swapping out PoSP for something more universally used, however, I do not think that benefit outweighs the loss of our unique innovation and portion of our differentiation. |
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Great discussion guys, much appreciated. As always, it is nice to see the community taking interest! Just an fyi, the team is discussing our plans for the future internally and I have just made a proposition to them. I will share it here because the community should know what is going on as well. This is a lofty plan, so it will take a group to make it work but it is all doable. Community feedback is of course welcomed and encouraged. Good morning guys,
I have outlined my vision for CBX below. I do not think there is anything wrong with our tech. PoSP is awesome and “ours” – this is a strong benefit. Additional to this, I still do not see the niche that CBX was designed to fill being filled with the current crop of popular coins. This niche of course is for a scarce yet interest bearing digital storage of wealth. This is a need and it takes very few speculators getting involved for the market cap to grow substantially and thereby create a snowball effect of popularity. The issue is how do we get there from where we currently are?
Here is what I envision:
1. Address blockchain bloat. The CBX vault having run for years has created a monstrous blockchain. I suggest we restart the blockchain from 0. This would require a snapshot of all addresses and their balances which would be replicated in a genesis block of a new chain. I am not sure how the technical aspects and challenges go for this but I know other coins have done things along these lines so there is precedent that we can mimic.
2. Complete the Pi Project – this will allow people to invest in CBX and stake without having to run the memory hoarding CBX vault on their PC. This is an enormous obstacle that is preventing adoption in my opinion. For example, I rarely if ever stake despite having a substantial amount of CBX. With a Pi device running, I would. This would boost the strength of the network and make generating new CBX that much more difficult and therefore more valuable to those earning it. On top of this, the Pi Project would allow one to manage their Lite-Vault from a PC or even cell phone allowing for day-to-day real world usage of CBX. As an extension of this project we could sell preconfigured Pi devices and even custom CBX bullion bar style pi cases. Proceeds would of course go into buy orders further strengthening CBX market position.
3. Online staking service. Simply a service where people can send their CBX so it will be staked for them continually without any effort from them. Ideally people hold onto their own coin (that’s what crypto is about) but there will always be those that are lazy and we do not want to alienate anyone. The more users the better obviously. This staking service could expand to include other PoS coins that once they stake their profits are sold on a market in exchange for CBX so the end user gets paid in CBX rather than the coin they are staking. Mining could be incorporated in the same manner as this project grows. This would tie in nicely with Ben’s shitcoin faucet idea where one sends in coins they don’t want and receives back CBX (the selling of the old coin and purchase of the CBX is managed by the ‘faucet’.
4. CBXchange. This may not be necessary should we get listed on some good exchanges by this point in the timeline but if not, we make our own exchange. This would pair CBX with only the top tier coins (BTC, ETH, DASH, Monero, LTC, etc – whatever that list would contain).
I would love to hear all of your feedback on this outline. If we are in agreement, I think we should move forward with creating a roadmap for internal review. Then we need to determine how long each stage would take and what resources are needed to accomplish each. I just chatted with Alex briefly and he is just now getting to the point where a heavy workload of schooling will be alleviated freeing him up to contribute. Obviously, we need to make this worthwhile to him and the more help we can get him the faster we can get things done.
Anyway, I am really excited about this plan and think it is an excellent time to launch this seeing how crypto is doing presently. We have an amazing opportunity here and working together we can make this project a massive hit.
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