It is encouraging to see the ongoing development of Crypto Billion (known originally as Cryptogenic Bullion). I am a cryptocurrency author who has published five books about the subject. Here is my Amazon author page: http://www.amazon.com/Mr-Chris-P.-Thompson/e/B00S5L3PVM/ref=ntt_dp_epwbk_0I have decided to publish many more (more than last year) books based on promising cryptocurrencies. Crypto Bullion will be one of these. Here is a preliminary front cover:  I did include Crypto Bullion in the book called "Cryptocurrency "The Alt-ernative" A Beginner's Reference" back in late 2014. I feel like writing about the coin in greater detail this year. I look forward to your questions. Thank you. Thank you Tyke! I expect you would be covering the transition to PoSP and not just the History of the first year in your book? It is exciting that you would be writing about our CBX, and please, if you have any questions of your own, do ask. I'm sure our community and development team would be eager to get involved as much as possible in your publication. |
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New Vault v2.3.2 is available now at the cryptobullion.io website. http://cryptobullion.io/storage-use/Including:- Fixing issue about peer discovery - Adding new threshold rule: it will combine inputs in order to make a stake of <= 500 CBX if needed, if the input is higher than 1k CBX it will be split Enjoy! My connectivity issue is corrected with new Vault, thank you. How are other's experience with version 2.3.2? Any connectivity issues, crashing issues, other? Not a single crash or issue since installing on day of release. Vault been running constantly since then. |
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Yes, P2P in principle; but perhaps best to get volume on exchanges 'til we get back from the low-volume section.
Altcoin-cap-to-Btc-cap has snuck up to 12.5% -- slowly going in the right direction.
Mark (IndiaMikeZulu), Australia
Agreed IMZ. Need to work on awareness over current community P2P trading. I think I finally get it, correct me if I'm wrong BitcoinFX. This isn't an offer of sale or exchange for bullion. This isn't an offer of exchange for the bitcoin or fiat value of the backing. This needn't be a permanent or a long term backing. This is a perpetually, ever changing average price discovery, based on the mindset of those participating in POV. So basically it is a way of determining the perceived value of CBX, through the collective mind of the POV network as a whole. This is cool  |
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P.S
On the P2P trading, as IMZ has suggested, maybe we could go with a buy/sell split of maybe a top sell value and a bottom buy value.
Would anyone like to trade like this? If so we will go this way about things.
My alternative would be an average price, buy or sell, slap bang in the middle. A price where it would be convenient and potentially profitable for the buyer or seller the recoup and profit their buy/sell on the exchanges, as there will be a certain buy/sell difference no matter what the trade.
Let me know how you would feel about the working out of the P2P exchange rates, and also let me know if you are wanting to take part in P2P trading.
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...
PoV has some test examples already logged in the blockchain but many still have questions of how it adds value...
...
Indeed. Let's have a look into the nitty-gritty of how Proof-of-Value bullion backing actually benefits CBX through true price discovery. Example; Alice has 125 CBX and decides to back it with 5oz of .999 fine silver. Bob has 500 CBX and decides to back it with 10oz of .999 fine silver. Today (with a $13.58 London fix for 1oz silver at 12 noon) - http://www.lbma.org.uk/pricing-and-statistics ... Alice's 5oz silver x $13.58 = $67.90 / 125 CBX = a representative proof-of-value of $0.5432 per. CBX. Bob's 10oz silver x $13.58 = $135.8 / 500 CBX = a representative proof-of-value of $0.2716 per CBX. Alice and Bob's combined backing therefore equates to a proof-of-value (average) of $0.4074 per. CBX. The Proof-of-Value Network becomes more interesting when; Carol has 100 CBX and decides to back it with x amount of gold. Desmond has 1 CBX and decides to back it with x amount of palladium. elambert has 10,000 CBX and decides to back it with x amount of platinum.  As more people (and businesses) continue to participate in the Proof-of-Value network CBX/Real-Bullion value begins to realize true price discovery and finds equilibrium against the total CBX supply. Anyone backing their own CBX holdings would be increasingly likely to back against the established proof-of-value (network average). Everyone is also likely to back (adjust) their current holdings against the changing proof-of-value (network moving average). Backed CBX is technically not in current circulation. Thus, we can also define CBX in circulation (more on this later - to be defined). This network effect can directly benefit true price discovery. For example; Network participants are increasingly less likely to back 1,000 CBX with just 1oz of silver (due to finite CBX supply), especially when most participants are backing 0.01 CBX with 1oz of gold (for example). This, in fact, not being dissimilar to how a 51% network attack becomes to 'expensive' to procure against a PoS coin, as network participation involves one's self holding both assets i.e. CBX and precious metal in combination. ... I could type a lot more regarding theory here - although I have tried to keep this post as concise as possible. I love your concept of POV BitcoinFX, I see it as a revolutionary price discovery technique for crypto-currencies.
However, it is a mindF*~K to get your head around lol.
Although there could be individuals backing their PM's on the network and updating as appropriate, continually as they spend, and as they void their backing. I don't see how there is a way to determine the actual truth of the backing, or un-backing for that matter. I would really like to think that everyone that would get involved with backing their PM's, ' and un-backing' via POV on the blockchain, would adhere and modify their backing as appropriate, when spending, or selling their PM's, but I don't see that everyone would do this, either intentionally or of a forgetful manner. Is there a way to easily verify this? Don't get me wrong i think the idea is brilliant. I just maybe see some holes, and I'm hoping you can fill them in  |
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I'm gonna have to get myself some physical bullion. Was looking at http://www.bullionrock.com/ located in Guernsey. Tax free to UK mainland so they say. Any other suggestions BitcoinFX? knowing you are from the UK also. If getting PMs is difficult, there may be another option. Depending on the amount could be a nice option in a P2P trade. I've traded PMs for $UNO and BTC with some people. I believe that one of them was IMZ...excellent for all parties involved. This is one of my dreams for CBX. Crypto Bullion to Physical Bullion exchange. To and fro, to and fro. One valued against the other. Holding physical bullion is one thing, but spending it is another. Conversion can be a costly and time consuming process. With taxes, mailing charges, and time waiting for cash to become available. If you could quickly convert your precious metals to something more spendable, without having to go through some middleman, it would be a revolution in the trading of PM's for spendable cash over the internet. Total control of your assets without depending on a third party to give you that service and take their charge for doing so.The eventuality of my dream would be a P2P physical bullion/crypto bullion exchange, where anyone selling physical bullion could do so for a stable CBX price, fluctuating only with the traditional exchange value of precious metals, and an easy entry/exit for doing so. I think the first steps would be building a friendly and trustworthy P2P network, open to regular bitcoin trades, with the option of PM exchange if desired. The next step would be having those in the community with PM's to back their CBX with their precious metals http://cryptobullion.io/proof-of-value-network/ at a value that they would desire to trade in the future. Once this value is reached the trade would become open, and anyone wanting to buy that lot of precious metals or coins for CBX would be able to execute the trade. |
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I'm gonna have to get myself some physical bullion. Was looking at http://www.bullionrock.com/ located in Guernsey. Tax free to UK mainland so they say. Any other suggestions BitcoinFX? knowing you are from the UK also. |
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Will get it quoted over on reddit for you BitcoinFX.
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Actually, Killiz, as we are community newcomers, we will follow your lead.Ha ok IMZ, but I wouldn't rate you as a newcomer to the community! Will put something together at the weekend, when I have more time at hand. Get a thread started in the Marketplace also
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Would like to add that owning and staking more CBX does not benefit the holder of a larger amount, any more than someone with a smaller amount, other than they will earn more CBX against their balance. Let me explain.
Person A has 100 CBX and Person B has 1000 CBX.
Lets say the average annual PoSP interest is 15%, (2% annual combined on the total supply).
For person A to earn their share over the year, 15% (100/100) x 15 = 15 CBX, their funds would need to stake 15/0.04 = 375 blocks over the year.
Person B to earn their share, 15% (1000/100) x 15 = 150 CBX, their funds would need to stake 150/0.04 = 3750 blocks over the year.
So even though those with higher balances are staking more blocks, they need to, to receive their share of the interest, those with smaller balances need to stake far fewer to to receive theirs.
A person with only 1 CBX would only need to stake (1/100) x 15 = 0.15 CBX, 0.15/0.04 = 3.75 blocks or 4 blocks over a year.
The only secret is keeping your vault running, as you are giving your percentage to others on the network if you don't.
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@ Killiz: I usually figure a buy-sell split (and as the project matures, we'll be able to offer slightly better buy- and sell-prices on considerable quantities of CBX).
Will follow your lead Mark, as you have a better understanding and way more experience https://bitcointalk.org/index.php?topic=757232.0
EDIT: Been reading the above thread and love the trade for physical bullion idea, alongside BitcoinFX's PoV https://bitcointalk.org/index.php?topic=951753.msg11746755#msg11746755 the actual trading of CBX and physical bullion would be an awesome option.@ Elambert. If I'm doing something simply wrong, I apologise: haven't received an activation email. Have tried the 'resend activation email' function a number of times. Mark, You are checking your spam/junk mail folder too? What name are you registering under. I can try to assist on the back-end... Can confirm my activation email was in my spam folder, will most likely be there. |
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[Squirms in frustration] Long weekend here. Gotta get My Guy to help me figure out both the P2P exchange and Banx. (Still can't sign up on either.) Full of enthusiasm for P2P still! (Working up some reserves of CBX and Btc for the project.) 'All bitcoin proceeds from sales will be put into buy orders on exchanges supporting CBX.' Splendid model! And 'Coinmarketcap average price'? Great. I'll grab my calculator. Mark The average bitcoin price is below the large average Dollar price in centre of page IMZ. http://coinmarketcap.com/currencies/cryptogenic-bullion/#markets |
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OMG, I'm glad I got out of this fuckup, what a scam I got into in 2013.
I lost around 100 bitcoin on this forkfest of a coin/bar/bullshit/bagholder/shitbar.
Why don't you people let go.........I did, and I'm much happier for it..........it's going nowhere, never has, never will!
Someone please tell me how to remove this thread from my unread posts list pleeeeeeeeeaaaaase!!!!!!!!!
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Couple quick tasks for those in the community so inclined to help out: Now that PoSP is fully implemented, it is a great time for us as a community to reach out to new exchanges and service providers to educate them on CBX. Let's start with Shapeshift.io and Poloniex: https://shapeshift.zendesk.com/hc/en-us/requests/newcontact@poloniex.comOther suggestions are welcome but these are a good start You can also use the coin submission form for poliniex, just about to put one in. https://poloniex.com/coinRequestShapeshift is a cool site, instant exchange, hassle free |
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Excellent, downloaded and running.
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I was just proposing my service if some one of you wanted to deal with a new "cbx adopter", don't be offenced lol.
I am compiling the release version of 2.3.1, it shouldn't crash, it runs for about more than 72 hours on my server and use about 440 mb (the daemon) actually.
So it seems a bit better than before.
No offence taken Alex I sure will use your service in the future and thank you very much! IMZ has been around long enough for me to know he is good on his word. Good news about the New version, and also thank you very very much. With a stable client we can start tackling the big exchanges, without the thought of them having to do a series of updates on new versions. P2P trading is one avenue, big exchanges is another. |
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