Thank you for the heads-up, working to resolve asap. Sorry for the disruption. Explorer back up  |
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Very nice news. Lets see what this is all about. |
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Thank you for the heads-up, working to resolve asap. Sorry for the disruption. |
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...... Hence the move to abandon PoW completely in lieu of Proof-of-Stake-Participation (a brand new security/distribution model created specifically for CBX). Lets give the full 100% reward for protecting the network to the solo-miner types who can mint coins simply by owning one, downloading the CBX vault and connecting via the internet ...
Roughly how long will it be until you swap to using Proof-of-Stake-Participation? I have known some proof of stake coins to have networks that almost froze because nobody was staking. Are there new concepts in Proof-of-Stake-Participation that encourage people to stake? Right now we are securing funding in order to have the resources necessary to begin the project. We have 3 BTC so far donated so we are on the way but a bit of a ways to go still. Once funding is secured, we anticipate 2-4 months for coding and extensive testing before launch. Yes, there are new concepts in PoSP that will encourage people to stake. The algo is ALL about staking - encouraging staking is what this algo is specifically designed for as this is what secures the network. Security is #1 priority. The last thing we will have to worry about is people staking, trust in that. |
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Guess I can't mine it as it's going to SHA-256. Soon to be raped by mining warehouses looking to mine currencies other than Bitcoin to get their profit up. Most SHA-256 coins don't last in profitability long, but good luck!
Your point is well understood Kyle1836, thank you. The current dilemma with mining (sha, scrypt, whatever algo) is that what is best for the coin (high hashrate) is NOT what is best for your everyday solo-miner. The solo-miner however is the key to decentralization and the high hashrate is provided by mining farms that become more and more centralized daily. Our distribution strategy is to favor the solo-miner and the concept of decentralization but if necessary for security, we could cater secondarily to mining farms. As was outlined, this would have meant to allow 25% of newly minted coins to be generated by the mining farm entities while the major remaining share of 75% being allotted for those who simply owned some CBX and kept their vault running to help further secure the network. After some intense deep-dive discussions, the conclusion was reached that our proposed PoS innovation and implementation run without any PoW would be the best solution by providing the desired vault-like maximal network security, while removing the small fraction that would have catered to the mining farms and their journey to centralization. Hence the move to abandon PoW completely in lieu of Proof-of-Stake-Participation (a brand new security/distribution model created specifically for CBX). Lets give the full 100% reward for protecting the network to the solo-miner types who can mint coins simply by owning one, downloading the CBX vault and connecting via the internet - no mining equipment arms-race, no extreme waste of resources. Of course until the point of implementation, scrypt mining will continue so feel free to take advantage of this opportunity Kyle1836. We are doing our best to keep you and the rest of the decentralized population in mind as we progress into the future. Thank you for your involvement. |
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June 1, 2015 Announcement Community Support Needed
Please note that this is an edit to our May 29th announcement that has better streamlined the technical project plans and added in a new team member appointment.
First we would like to welcome VonSpass to the team as our Marketing Strategy Director! VonSpass brings professional experience in marketing and financial markets to the table and will be in charge of spearheading Crypto Bullion's marketing campaign (much more to come on this). Welcome!
Secondly, The CBX Core Team is proud to announce some ambitious development plans to unfold in the coming months. We are confident that when executed, these developments along with our new marketing plan will catapult CBX back into the top tier of crypto coins and redefine it as the premier crypto-currency/commodity that fully fills the niche of a distributed, low mint, low inflation storage of wealth truly The Digital Precious Metal.
The technical portion of our plan has been reviewed and consolidated to 1 distinct stage (outlined in our to be released white paper), requiring a hard fork. The estimated time for development is 2-4 months. Our lead developer, raizor has the skill-set to implement this evolution of CBX as he has evidenced in his top-notch work already contributed to the project, but it will take a significant amount of his time.
We are reaching out to the current Crypto Bullion community, and any who care to come along for the ride to help in making this project come to fruition. We have set a target fund raising goal of 20 BTC (10 BTC for technical development and 10 BTC for marketing). This is a great opportunity for each individual to take ownership of the project and help to control the resurgence of CBX. CBX hit an all-time high in December of 2013 of over $5 per coin so it has shown the ability to grow 100x its current price.
* Hard Fork: 2-4 months development / Cost 10 BTC
Fork 1: Remove PoW completely. Fortify PoS Security by removing coinage and rewarding active nodes. Max annual PoS (2% per year * total coin supply) will be distributed among coins actively staking. (White paper to be released soon)
Additional Updates/Features that raizor has committed to:
a) IRC incorporation into CBX client (update coming soon)
b) CBX Marketplace incorporated into CBX client (tbd)
Elambert has already kick started the development fund with a 1 BTC investment. Our friends at Finite By Design have committed to also add a 1 BTC donation bringing us to 10% of our goal. Please consider supporting this project by donating to BTC Address: 1D1oyugjRQFAyJ9sRYBvWS2aUbJ9KnUsVG
We are excited to move forward with this project. Join us and lets take Crypto Bullion back to the top tier of crypto-currencies.
~ CBX Core Team
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Very interesting changes ahead, my question is, the funds required to make this changes would come solely from donations? or there are some plan to incentivize new investors to contribute?
Yes, we are reliant on donations for project funding. These would most likely come from owners of CBX that have a vested interest although we hope as well that others will take advantage of this opportunity of a low price point for CBX and invest in some for themselves and also invest in the development effort to result in a net gain as we grow. The incentive to new investors for contributing would come on the back end of their associated CBX purchases. |
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Added BTC address for CBX development fund donations:
Donate to the CBX Foundation Development Fund:
CBX 5oS6SK8411DUdxritrohRW96rZmHC9DX7d
BTC 1D1oyugjRQFAyJ9sRYBvWS2aUbJ9KnUsVG
Will be coming up with a list of projects with estimate time tables and associated costs shortly.
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OP, reddit and website updated.
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Great work BTCat! Video added to OP and posted to Reddit. Will incorporate it into the website as well. |
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Couple images for community use:   |
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Vault Update - March 26th, 2015
Hello to the Crypto Bullion community!
We are pleased to announce the release of the new CBX Vault (Version 1.2.0.5). A couple of issues were identified with the previous release and have been corrected in this version.
New release includes:
Fix to Bullion Control issue with incorrect coin selection
Correction to fee amount displayed in Options dialog (from 0.01 to 0.001)
Please download directly from our website.
Planned/In progress:
Vanity addresses tool
Merge mining
Release of white paper and innovative Hybrid algorithm focused on maximizing security and stability while remaining within the confines of CBX's 2% maximum annual inflationary profile
Get involved:
Stop by, subscribe and say hi at our new subReddit
More to come...
~ CBX Core Development Team |
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Cryptopia is looking to add it tonight. Let's see.
Syncing now, It will be on tonight, sorry for the delay "blocks" : 672070 Almost there EDIT: Ok, could be tomorrow, been syncing for 24 hours only at "blocks" : 717405 Thanks for adding CBX! Now live. https://www.cryptopia.co.nz/Can't link to the BTC/CBX market somehow, all markets have the same url it seems. Great news! Updated OP, Reddit and Facebook. |
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STATE OF THE BULLION - March 6th, 2015
Hello to the Crypto Bullion community! We have some exciting developments to share with you all.
First and foremost, it is with great pleasure that we announce the appointment of Erwin BTCat as Director of Social Media Marketing. BTCat has been a longtime supporter of Crypto Bullion and brings with him a proven pedigree of social media marketing expertise as evidenced in his twitter account, Crypto Traders, which reaches over 35k followers at the click of a button. BTCat has now taken over the CBX twitter account, @CryptoBullionX, and the positive results are already evident. Great job and welcome to the official CBX Core Team BTCat we are fortunate to have you!
Secondly, as most know, we have released the new Vault (wallet/client), which offers superior performance and functionality to its predecessors. This project has been the result of the tireless efforts of our Lead Developer, raizor. He has done a splendid job and continues to work on a daily basis to further evolve and secure Crypto Bullion.
Recent Accomplishments:
New subReddit created in accordance with rebranding
CBX added to RebelMouse
Bug with Bullion Control identified and fixed in master dev branch on GitHub (updated Vault release soon to follow)
CBX being added to Cryptopia exchange
Planned/In progress:
Vanity addresses in Vault (client)
Merge mining
Release of white paper and innovative Hybrid algorithm focused on maximizing security and stability while remaining within the confines of CBX's 2% maximum annual inflationary profile
Get involved:
Stop by, subscribe and say hi at our new subReddit
Win 100 CBX CryptoBullion with a tweet and RT. Join us on Reddit and read how to enter.
Vote for CBX to be added to Cryptoine exchange
More to come...
~ CBX Core Development Team |
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Cool, never heard of RebelMouse but certainly a nice concept. Thanks! Added to OP and website. |
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Send Control does not work.. i choose entries to send and it ignores my choices and sends whatever it wants.. send control has no control... only display.
Will have a look and report back, thank you. |
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Good thinking BTCat! This service sadly was overlooked during the rebranding process. I am happy to report that Coinpayments.net is now featured on the OP, website and subReddit. Excellent business partner/service that has supported CBX for a long time. |
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Great stuff. Can you say something about this algorithm? Yes, it will not change the inflationary profile of CBX but it will maximize security while better incentivizing holders and miners. Sorry for ambiguity but more detail will be released as allowable. Also, our subReddit has moved in accordance with our rebranding. Please come visit, subscribe and say hello! http://www.reddit.com/r/CryptoBullionX/ |
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Looking for a talented developer to work with the Crypto Bullion (CBX) team in implementation of an innovative redesign of the Hybrid algorithm currently in place (PoS/PoW). White paper is already complete. Assistance is needed with fine tuning the logistics and with implementation. This is a paid position and compensation will be handled via an escrow service in accordance with contractual obligations being met. Ideal applicant will be experienced with C++, have a firm understanding of both Proof-of-work and Proof-of-stake algorithms, willingness to sign NDA and experience with programming. Salary is negotiable and based on experience. To apply, please provide resume via email to cryptobullion.io@gmail.com. |
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