The rate of CGB/BTC was about .0025-.0026 when BTC/USD was around $150 - $160. And when BTC/USD hit $195 (about a 20% increase), CGB/BTC hit .0021 (about a 20% decrease). So the net value is nearly unchanged, as Killiz said.
The correlation with BTC is accurate and I suspect it will stabilize and be less pressured with each subsidy halving going forward, which was the point of the design of accelerated subsidy halving. I have said all along to those who know me (and a couple times in these forums) that I expect BTC/USD to be over $1000 within a year. And as BTC/USD tests the $200 level, suddenly accelerated subsidy halving looks like a bright idea. Plus, couple that with future project developments of mine as well as a developing economic web ecosystem and continued marketing initiative, then you truly have the potential to--wait for it--multiply the value of your bitcoins over time.
Try not to get caught up with the daily price movements...it will drive you mad.
In the meantime, I believe BTC/USD over $200 will soon have a rising tide raises (most) boats effect and I'm doing my best to make sure CGB is one of those boats.
-Merc
Very well said my friend! One must keep things in perspective. Only 3.5 short months ago CB was born. We have come so far in such a short time. CB has established itself as a top 10 market cap currency and has done so despite being ignored thus far by the big exchanges (BTC-e, MCX, Mt Gox, etc.). As a matter of fact, CB is the highest market cap coin that is not currently traded on one (or multiple) of the afore mentioned exchanges. Truly remarkable indeed! It is simply a matter of time and staying the course. Thank you for all that you do Merc! Truly a pleasure and honor having you in the lead dev role! That being said, we have huge plans for CB and despite how far we have already come, we have only just begun the journey! CB community, take a minute to step back and enjoy the astonishing growth we have experienced so far. The joys in life are not the reaching of the goal, but rather in the journey! Enjoy the ride! Thank you so much for you and mercurys continual support, I can see seriously great opportunities for this bullion in a real world environment. Thanks for the support.  |
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The rate of CGB/BTC was about .0025-.0026 when BTC/USD was around $150 - $160. And when BTC/USD hit $195 (about a 20% increase), CGB/BTC hit .0021 (about a 20% decrease). So the net value is nearly unchanged, as Killiz said.
The correlation with BTC is accurate and I suspect it will stabilize and be less pressured with each subsidy halving going forward, which was the point of the design of accelerated subsidy halving. I have said all along to those who know me (and a couple times in these forums) that I expect BTC/USD to be over $1000 within a year. And as BTC/USD tests the $200 level, suddenly accelerated subsidy halving looks like a bright idea. Plus, couple that with future project developments of mine as well as a developing economic web ecosystem and continued marketing initiative, then you truly have the potential to--wait for it--multiply the value of your bitcoins over time.
Try not to get caught up with the daily price movements...it will drive you mad.
In the meantime, I believe BTC/USD over $200 will soon have a rising tide raises (most) boats effect and I'm doing my best to make sure CGB is one of those boats.
-Merc
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Some of the best devs are behind CGB IMO. One of the main reasons I support CGB
Give me names? You're in luck as they keep working on the coin.. Agreed - I'm a fan of CGB too - they've done a lot of things right, one of the best coins around, but how long will holders stay lucky for? These coins don't appreciate fast enough to keep the developers interested. I appreciate the kind words. But honestly, CGB is not a side-project for me. It's a major part of my life. I learn so much each day that I would not have if I wasn't part of CGB. I really love it. I think CGB dev incentive qualifies as practicing #4 on the OP list. I have mined it nonstop and I've bought it in the open market consistently, because I truly believe in what I'm trying to do and the projects I'll be releasing in the coming weeks and months. And the best bet someone can make is on his/herself. Price accumulation (wrt BTC) is tertiary. -Merc |
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Does a Science Fiction convention being held in 2015 that will accept most (read CGB) Alt Digital coins as membership payments count?
Timelord2067
For the awards in 2015. |
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There are venture capital firms that have kept their distance from bitcoin start-ups because of the illegal activities using bitcoin, like SR. When the FBI seized SR, these venture capital firms saw it as their green light to enter the market.
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Have started to see CGB move from balance to "stake" balance.
I had five transactions (all < 1.0 each and <1.0 total) from more than 30days ago, I got two "mining" payments this week (both <0.0x) , none of the coins moved across, but then after 34 days a 10.15 and a corresponding 0.09938 "mining" both jumped across to the "stake" balance.
Yep, after 30 days in a wallet coins become eligible for stake rewards. Will be watching to see how the remainder of the coins go - just one question, is there a new block 'mined' for the 10.15 'stake' and would I be correct to assume unlike the 10, 5, 2.5, 1.25 payouts, this block netted the 0.09938  Correct. This PoS block will be added to the blockchain along with all previous PoW and PoS blocks. You could see this on the block explorer but we're migrating servers and resources to new nodes and it's currently down. It should be back up by the end of the weekend. The url for the explorer is here: http://explorer.cryptogenicbullion.orgThat was yesterday - today the whole balance is back to the "balance" with zero in the "stake" - is this right?
One last question, is the fractions only to six decimal places?
Thanks,
This is right. You should see in your transactions 'mined' values as well. Decimals are up to eight decimal places. Called one satoshi: http://bitcoin.stackexchange.com/questions/114/what-is-a-satoshiYou're very welcome! -Merc |
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There isn't pretty much any big amount that is on the sell side right now Yes, but if there was, we could infer the price to be stronger. That is the irony of the market book...A big sell-side gives credence to the price underpinning it... The market looks thin in classical terms, but this is an interesting experiment in accelerated mining subsidy reduction, a stable coin control, and PoS. We shall see the results in a few months. I am sure the capable development team realise that a widespread desire to hold and use the coin needs constant incentive. There is a subtle balance between being a storage medium of value and a liquid currency. We're constantly trying to find that sweet spot, but we have marketed CB as something that tends to be more rare storage of value than currency. I think things will be much more clear in the next 1 - 3 months as we start to roll out our project initiatives. And you can stay in touch with these initiatives on our blog at http://CryptogenicBullion.org/blog.html. -Merc |
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CGB shirts are in! OP updated  Ordering four of them.  |
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Thanks for the links - a few missing, I'll let a couple of people know. Can you confirm the Hash for CGB is correct? I keep getting a different answer when I download - Many thanks. The network hashrate is about 320mh. I'll put in the network hashrate calculation in certain RPC commands in the next client update. |
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Done.
CryptoSource (both fb and twitter)
5UhWAhHd84SnevZMDbgfh8PeY5GZCj1zpy
Sent. |
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We'll have our own dedicated block explorer go live any day now, to compliment diatonic's explorer, which goes down often. And I'm trying to rearrange our hosting so to have it at explorer.cryptogenicbullion.org, just waiting on tech support to get back with me regarding hosting/server issues. If it takes longer than a couple more days for them to get back with me then I'll just get a new domain and get it set up fast.
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Looks like BCT is back after taking a brief vacation. Couple quick updates for the CB commuinity: Hey elambert, Is it possible to see what the PoW is from the wallet by some RPC command? I was trying to figure this out by looking at the current block number, but I couldn't really get the hang of it. For instance, with getblockcount I currently get the number: 146849 It was my impression that the PoW was halved every 50.000 blocks. So for the reward to be 1.25, wouldn't the block count have to be 150 000? KBlock Reward 0 10 50 5 100 2.5 150 1.25 getmininginfo has the info you need, I think. First block halving happened at 55K, next half at 95K....I joined the dev team right around that time. All consequent halving happens at 50K intervals after block count 95K. |
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CGB shirts will be in on Oct 11th!!!  Awesome! |
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Nevertheless, if PoW profitability continues to decrease at its current rate, network hashrates will likewise decrease. And PoW/PoS blockchains will be much more vulnerable--insecurity is increasing as profitability decreases. But we anticipated this scenario from launch, and we're aiming to avoid the PoW network hashrate crashes by taking it out of the equation by accelerated subsidy halving. At the very least, it is not economically viable to conduct a 51% stake attack. We are more concerned with DOS attacks. But integrating coinjoin with an additional overlay scheme might provide a solution. I hope to have something on testnet soon. -Merc |
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Yes, we're aware. We are researching possible solutions and overlay schemes. |
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