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CBX has a terrible distribution of wealth with the top 10 addresses owning over half of all coins in existence.
One solution that might work at a network level would be to reclaim those coins in a fork and evenly distribute them over all CBX addresses below the top 250 richest addresses on the chain.
This however fly's in the face of the very immutability of the block chain and to be honest I am very much against this course of action for any currency stolen or otherwise - not to mention the receiver of Cryptsy has legally purchased and above effectively amounts to theft.
I have been away for a while now, but watching from a shady corner - what has being going on with CBX recently? We have moved from an deflationary model to an inflationary model, the chains hash rate has fallen to minimal levels, we have lost the majority of our market cap and there has been very little in the way of comms updates and new software releases from the Devs apart from some sort of IPO for another coin all together?
Bitcoin is almost back to 1000USD and I feel CBX needs to get back to its roots, work on more evenly distributing the wealth on the chain, get more exchanges on board and fully concentrate on the fact that it's a rare commodity and NOT a currency - less it fall on the mountainous heap that is the pile of deal block-chain currencies out there already.
FR
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Seems to be something wrong with the network, the diff is right down and i'm getting piles of orphan blocks attempting to sync :/
FR
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We're looking for a new topbanner (not the profilepic) for our Twitter page https://twitter.com/CryptoBullionXAnyone willing to make one? The scaling system on Twitter is a bit weird so it's best to try out the design if it works. Twitter recommended dimensions are 1500x500 pixels for the header. Are you refer to the large background pic? I meant the top background but not the full page. Ofcourse we can change that too if there's something good for it... Elambert asks for a new design of the Twitter page, I've changed the profile pic but don't know yet what to do with the rest. Any ideas welcome. Here is my idea for the Twitter top banner, 1500 x 500 pixels:  I like it! Clean and golden  |
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Just had another go at requesting Poloniex add CBX to their exchange, we really need more exchanges to list CBX and (IMO) Poloniex is one of the best around FR |
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Keep in mind CBX is still somewhat concentrated into too few hands - look at rich list! Opening up online wallet staking will make staking possible for many more people who simply cannot do it otherwise.
Hey VonSpass True, we need to get a far better spread of coins across a greater number of wallets ideally the majority of which would be staking. It would be infeasible to provide every new user with their own instance of a dedicated staking wallet as the memory / proc. time required we be far too costly on what would have to be a cloud VPS. The alternative is a 'super wallet' that would represent a single point of failure (through compromise) / staking (decreasing distributed security) on the CBX network. And having many small new participants does more for decentralization, than the opposite effect... IMO
Indeed, we need lots of little private / geographically diverse wallets staking, and not some super wallet / collection of semi super wallets holding multiple users funds. |
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New poll topic created to gauge the interest of the community in having a staking service available. One would be able to send their CBX to this service provider where it would be staked, compounded and saved 24/7.
Please vote and feel free to discuss here.
A service such as this would not strengthen CBX, it would actually weaken it by attempting to centralise a large proportion of the staking effort. If a large number of people used it and someone broke in and stole the coins from the hot (staking) wallet it would be a disaster. CBX's staking needs to as distributed as possible, the best solution in my opinion is to provide a fully built and configured Raspberry Pi OS image / hardware wallet with a really simple web interface for importing and unlocking you wallet. This makes it easy and cheap for users to keep their coins staking 24/7 FR |
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I don't need cutting edge compositions if I've got great execution of a proven 'thing' like the Blues. I think this logic will see CBX do well if it's around in 5 years, if the dev team stick to delivering a dependable product, and don't try and become the next Ethereum. Just keep doing the low inflation crypto 'bullion' basics really well for many years and CBX @ $30 is possible
Exactly, be the best as what you do and people will respond. Keep it simple, make it more robust and useful with incremental updates and CBX will do gr8 things FR |
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Hey IMZ, thanks for the response - good to get some back and forth going
if if if the implementation of anonymity is done well, and is within the capabilities of our dev team, then CBX would have a feature that gives it leverage over many other 1.0s.
We think – apart from CBX being a fine coin with a fine community – that 1.0 communities must take the fight to the 2.0s. Now. And hard.
I think we already have a major advantage over others coins with the implementation of truly decentralised security in our network - its a hard problem that no one as of yet has been able to solve successfully - until CBX. Does forcing anonymity into CBX make it a 2.0 coin just because all the others are doing so? I don't honestly believe it does, if anything it taints CBX's legitimacy factor in favour of potentially shady practices / uses - and we want to be as far away from that as possible. Certainly I’d be thrilled to trade ETH/CBX, that is, 2.0/stealth.
So would I And we remain staunchly committed to ‘currency function.’ Nothing to do with buying weed. ‘Store of wealth’ doesn’t cut it. All currencies are ipso facto ‘store of wealth.’
The way that CBX is fundamentally set-up pushes it into the store of wealth category. "The digital prestigious mental" as its been referred to previously; you would not go do your shopping with gold bullion, you would use a 'every day' currency like BitCoin. The total number of coins in existence is (comparatively) low, a currency requires high (but finite) liquidity for maximum utility. PoSP encourages users to buy large amounts of CBX and leave them in a staking wallet 24/7 not spend them - akin to locking your bullion up in a bank and watching it appreciate in value - only with CBX you also help secure the network at the same time. The cryptosphere is so full of competitors the only way coins can survive is to (like any small company) identify a niche in the market and be the best at fulfilling that niche. Bitcoin has the 'every day' currency niche, Dash (renamed from DarkCoin to help legitimise it) has the anonymity niche, Ethereum has the 'platform' niche and CBX should continue to fulfil the investment / store of wealth niche with its low inflation, rare unit, high security investment based operating model. PS: PoSP is open source and after (if) everyone adopts the technology we go back to being just another face in the cloud (with or without anonymity - it makes no difference in differentiating us from all the other anon coins) |
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Uuugh can't sleep :/ Hey IMZ, fair enough, good point OK, 4:41am discussion time: Do we really need / want to implement anonymity in CBX? Anonymity is (and has been) a buzzword for a while in the cryptosphere, many coins / communities seem to have developed this pressing requirement for it as it supposedly hugely increases their coins utility. As result there has been a mad rush to implement anonimity through a number of quite convoluted systems of coin tumbling / chain mangling / transaction grouping to achieve it, perverting what WAS a very eloquent system for maintaining a distrobuted ledger. Now, I do agree that it is good to have the option for anonymous transaction system when dealing with a currency, however does this really fit with what we want to achieve with CBX? Would our development efforts not be better focused on hardening our vault to ensure that our investment is always secure - we are going for a ‘store of wealth’ here remember not a day to day currency for Jake down the road to buy his weed with. CBX is currently leading the way in terms of decentralised security, with my investors hat on I would like to see more additions to our network / client that improve security, examples might include: + Enhanced fork protection + Wallet bakup / auto restore if corrupt + Hard wallet encryption + Signed certificate authentication + Code signing + 2fA wallet unlocking + Pen testing reports on new software versions etc... Basically locking down the wallet in case of compromise and provideing a higher level of confidence that my money is safe; staking away in my 24/7 internet connected wallet. We do not (should not) need to follow the masses down the anonymity rabbit hole, entering the anonimity game will put us back in competition with the zillions of other coins out there and soak up massive amounts of dev time better spent on makeing CBX as good / secure as it can be. We NEED to push legitimising CBX to attract investment and participation in our network security model, investment needs trust - and the more open and transparent we are the better we look as a long term investment opportunity for the big players out there FR |
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A Raspberry Pi staking node is the ideal staking wallet, low power, reliable and just what we need to push to get greater adoption / increased network security. A few things spring to mind: The Pi wallet will need to be able to recover from sudden power loss (power cuts) so that the block chain does not become corrupted upon reboot (had a few instances of this happening that requires re-bootstrapping) It would be a good idea to publish a how-to guide that also includes a number of hardening procedures to lock the Pi down from unauthorised remote access (fail2ban, strict IP table rules etc) Other than that really looking forward to running my Pi wallet In my case it would pay for it self in about a month and a half @ current prices / participation  |
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Hi, I still have a huge chuck of memory eaten by the CBX vault during staking. I thought v2.3.2 should fix this?  Yea me to, its much better than it was but there is definitely a memory leak somewhere (running Debian 8 x86) when staking - Just checked my daemon (had it staking for 1 week solid) and it had used 96% of my 250mb swap space - just restarted it and memory usage is now back to normal... but building again (slowly).... |
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Crypto Bullion market cap $412,311 @13:53 UTC 17/01/2016 HELL yes  |
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And this my friends is why decentralization is so critical. http://www.engadget.com/2016/01/15/mike-hearn-quits-bitcoin/PoSP operates in such a manner that it prevents the centralization that has occurred in Bitcoin (and is the natural progression for all PoW systems). PoSP encourages, rewards and fosters an environment of true decentralization by removing the financial barriers of entry to participate in generating new coins and confirming transactions. With Bitcoin you have 2 distinct groups; users (investors and exchangers) and creators (miners and transaction confirming parties). Users are dependent on creators and creators are concerned with their own financial interests - sound familiar? With CBX and PoSP, users and creators are the same entity so there is no conflict of interest. Everyone can easily join in and participate in the network by simply obtaining some CBX and leaving it in their online and unlocked Vault where it will operate to confirm transactions and secure the network thereby earning the owner a reward of a portion of the newly created CBX. Guys, we have an incredible evolution of the crypto currency concept in our hands. It's hard not to get more and more excited about this everyday as we watch events play out as envisioned when creating the concepts and solutions behind PoSP. Enjoy the ride guys, this will be fun! Well said sir! |
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It's looking good here too, i'm not staking with my full (live) wallet on the dev branch but memory usage with my dev wallet seems noticibly better on the Raspberry Pi
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I try best effort to solve some memory issue and leak.
Indeed, thank you for all of your time and effort on the coin can see from the development branch on github all the hard work you are putting in - very glad to have you as our dev Alex |
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Same issue here, trying to manually cash out my Cryptobullion but nothing happens :/
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The 2.3 wallet is still a huge memory hog, it eats up 2.6 Mb of my memory when staking. I have 8 Gb of memory, which means it will crash sooner or later (usually during the night).  I have to run other wallets too on the same computer, they use around 500 Mb when staking, why is the CBX wallet using more than five times as much?  I really hope you can give priority to this issue. There does appear to be a small memory leak somewhere, in ~8 hours the staking wallet has consumed 200mb of extra ram and is slowly increasing, less of an issue on a desktop PC but I'm going to have to restart the daemon every day on my raspberry PI to stop it falling over... |
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hi, one more time with new update, the wallet stars over again... (under windows 10) the process does not start..  Not sure I understand, can you please explain more? nothing happens when I launch CryptoBullion-qt.exe Try running the .exe from the command prompt, you will get an error message if it is crashing out that will help diagnose the problem |
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Network is looking healthy after upgrade to 2.3.0.0 |
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