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Author Topic: [ANN][CRB] Creditbit - ERC20 token  (Read 366456 times)
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betlord90
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June 16, 2017, 09:44:05 AM
 #2761

Looks like a good rise happening for now and I think this rise will surely continue since bounty dumpers are ended up to dump their salary coins, And It is good time to buy now and stake in bittrex since im so sure that their will be another uplift happening on it on this past days.

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CreditBit-dev
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June 16, 2017, 10:21:54 AM
Last edit: June 18, 2017, 07:53:50 AM by CreditBit-dev
 #2762

Thank you.

Please could somebody explain:
- why this is better for creditbit to be ETH token?
- how much does it cost to be ETH token?
- how it looks with transaction fees and development on ETH chain and how much does it cost? If ETH price will rise what impact could that have for Credit2.0?

Thank you for your questions.

We decided to migrate CreditBit to Ethereum blockchain in order to take advantage of advanced features. Smart Contracts, that can be stored on the Ethereum blockchain, enable development of complex business logic, distributed community and decision process, innovative distribution of issued tokens etc. Faster transactions are also a big advantage. We also don't need to establish and maintain our own network of nodes (servers) to confirm transactions.

Costs are separated into two groups. Development costs are significant, as all applications and Smart Contracts must be written from scratch. It is easy just to establish an ECR 20 token, while implementing custom features in Smart Contracts takes a lot of effort and time. There are 4 stages of Smart Contract development: designing, developing, testning and deployment. Designing is most time consuming, as it requires development of Smart Contract functionality, interoperability with other SCs and user scenario writting. Time consumed is directly correlated to the complexity of the SCs functionality. Writting Solidity code is somehow predictable, while proper testing is a matter of borderline cases that SC covers.

For the end users, gas fees are not so costly, but time consuming. Users were used to pay fees in CRBIT coins, now fees are charged in Ether. To create any transactions, it requires additional steps to purchase and deposit Ether for the transaction fees (gas).

If the ETH price rises significantly, it will have a negative impact on the transaction costs, as fees will rise accordingly. We haven't yet observed the correlation between ETH and CRB price, as we are still facing market stabilization of our Token. At the moment, CRB price is still greatly influenced by the development process. The development itself is not influenced from ETH value, but it is directly influenced by the technological development of the Ethereum network.

If you have more specific questions, we are glad to answer them.

Dev team

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June 16, 2017, 11:43:39 AM
 #2763

Thank you.

Please could somebody explain:
- why this is better for creditbit to be ETH token?
- how much does it cost to be ETH token?
- how it looks with transaction fees and development on ETH chain and how much does it cost? If ETH price will rise what impact could that have for Credit2.0?

Thank you for your questions.

We decided to migrate Macro to Ethereum blockchain in order to take advantage of advanced features. Smart Contracts, that can be stored on the Ethereum blockchain, enable development of complex business logic, distributed community and decision process, innovative distribution of issued tokens etc. Faster transactions are also a big advantage. We also don't need to establish and maintain our own network of nodes (servers) to confirm transactions.

Costs are separated into two groups. Development costs are significant, as all applications and Smart Contracts must be written from scratch. It is easy just to establish an ECR 20 token, while implementing custom features in Smart Contracts takes a lot of effort and time. There are 4 stages of Smart Contract development: designing, developing, testning and deployment. Designing is most time consuming, as it requires development of Smart Contract functionality, interoperability with other SCs and user scenario writting. Time consumed is directly correlated to the complexity of the SCs functionality. Writting Solidity code is somehow predictable, while proper testing is a matter of borderline cases that SC covers.

For the end users, gas fees are not so costly, but time consuming. Users were used to pay fees in CRBIT coins, now fees are charged in Ether. To create any transactions, it requires additional steps to purchase and deposit Ether for the transaction fees (gas).

If the ETH price rises significantly, it will have a negative impact on the transaction costs, as fees will rise accordingly. We haven't yet observed the correlation between ETH and CRB price, as we are still facing market stabilization of our Token. At the moment, CRB price is still greatly influenced by the development process. The development itself is not influenced from ETH value, but it is directly influenced by the technological development of the Ethereum network.

If you have more specific questions, we are glad to answer them.

Dev team



How much fuel ETH do you need for development?
How much does it cost and where is funding source?
Do you have plans to add custom features or just take advantage what ETH has to offer?

I am really worried about ETH price. It will go up. Market cap explodes and price will moon soon together with fees and other costs. This could be very expensive. 




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DXB2017
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June 16, 2017, 12:18:15 PM
Last edit: June 18, 2017, 11:23:18 AM by DXB2017
 #2764

Thank you.

Please could somebody explain:
- why this is better for creditbit to be ETH token?
- how much does it cost to be ETH token?
- how it looks with transaction fees and development on ETH chain and how much does it cost? If ETH price will rise what impact could that have for Credit2.0?

Thank you for your questions.

We decided to migrate  Creditbit to Ethereum blockchain in order to take advantage of advanced features. Smart Contracts, that can be stored on the Ethereum blockchain, enable development of complex business logic, distributed community and decision process, innovative distribution of issued tokens etc. Faster transactions are also a big advantage. We also don't need to establish and maintain our own network of nodes (servers) to confirm transactions.

Costs are separated into two groups. Development costs are significant, as all applications and Smart Contracts must be written from scratch. It is easy just to establish an ECR 20 token, while implementing custom features in Smart Contracts takes a lot of effort and time. There are 4 stages of Smart Contract development: designing, developing, testning and deployment. Designing is most time consuming, as it requires development of Smart Contract functionality, interoperability with other SCs and user scenario writting. Time consumed is directly correlated to the complexity of the SCs functionality. Writting Solidity code is somehow predictable, while proper testing is a matter of borderline cases that SC covers.

For the end users, gas fees are not so costly, but time consuming. Users were used to pay fees in CRBIT coins, now fees are charged in Ether. To create any transactions, it requires additional steps to purchase and deposit Ether for the transaction fees (gas).

If the ETH price rises significantly, it will have a negative impact on the transaction costs, as fees will rise accordingly. We haven't yet observed the correlation between ETH and CRB price, as we are still facing market stabilization of our Token. At the moment, CRB price is still greatly influenced by the development process. The development itself is not influenced from ETH value, but it is directly influenced by the technological development of the Ethereum network.

If you have more specific questions, we are glad to answer them.

Dev team




What to say?! Amazing dev team! Thanks god we got good dev team for creditbit!👍🏼

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CreditBit-dev
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June 16, 2017, 01:14:35 PM
 #2765


How much fuel ETH do you need for development?
How much does it cost and where is funding source?
Do you have plans to add custom features or just take advantage what ETH has to offer?

I am really worried about ETH price. It will go up. Market cap explodes and price will moon soon together with fees and other costs. This could be very expensive.  


Thank you again for your questions.

An amount of ETH, needed for deploying Smart Contracts on the Ethereum blockchain, is negligible. Approx. 0,1 ETH was used for gas, we could check each transaction to get an exact amount. These ETHs we purchased ourselves. Future costs will be covered from the Development Fund, which is described in the Whitepaper.

We are also observing ETH price with bipolar feelings. Although gas price for transactions (including SC deployment) is adjusted with time, we are counting on that new versions of the Ethereum blockchain will enable charging fees in CreditBit Tokens (not only in ETH).

We are definitly developing custom features for CreditBit Token, but they still rely on the underlying Ethereum blockchain technology that enables storing and executing Smart Contracts.

Dev Team
DXB2017
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June 16, 2017, 02:19:15 PM
 #2766


How much fuel ETH do you need for development?
How much does it cost and where is funding source?
Do you have plans to add custom features or just take advantage what ETH has to offer?

I am really worried about ETH price. It will go up. Market cap explodes and price will moon soon together with fees and other costs. This could be very expensive.  


Thank you again for your questions.

An amount of ETH, needed for deploying Smart Contracts on the Ethereum blockchain, is negligible. Approx. 0,1 ETH was used for gas, we could check each transaction to get an exact amount. These ETHs we purchased ourselves. Future costs will be covered from the Development Fund, which is described in the Whitepaper.

We are also observing ETH price with bipolar feelings. Although gas price for transactions (including SC deployment) is adjusted with time, we are counting on that new versions of the Ethereum blockchain will enable charging fees in CreditBit Tokens (not only in ETH).

We are definitly developing custom features for CreditBit Token, but they still rely on the underlying Ethereum blockchain technology that enables storing and executing Smart Contracts.

Dev Team


Thanks Dev team!

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DXB2017
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June 16, 2017, 05:05:37 PM
 #2767

Lock your creditbit and receive 12% pos!

https://m.youtube.com/watch?v=U1gm8dYFmDk

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rabbitcoffee
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June 16, 2017, 05:14:24 PM
 #2768


Thanks Dev team!
[/quote]

Chinese boss wants to know name and faces of Dev team.  Also names and faces of other team members.  Boss is starting to think previous scammers are behind this coin.  Will not do business with nameless/faceless.  Can you supply names and faces?
ACanJadaS
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June 16, 2017, 09:31:12 PM
 #2769

*Newbie*

This question isn't specific to CRB, but all ether crypto's. Is it possible for a crypto based on ether to ever have a market cap greater than ETH? I'm sure this is a really dumb question, but I'm still learning and researching how this all works.

Cheers,
LowByter
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June 16, 2017, 11:31:36 PM
 #2770

*Newbie*

This question isn't specific to CRB, but all ether crypto's. Is it possible for a crypto based on ether to ever have a market cap greater than ETH? I'm sure this is a really dumb question, but I'm still learning and researching how this all works.

Cheers,

Technically it is possible but highly unlikely. The only question that is dumb is the one not asked Wink

LowByter
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June 16, 2017, 11:33:48 PM
 #2771


How much fuel ETH do you need for development?
How much does it cost and where is funding source?
Do you have plans to add custom features or just take advantage what ETH has to offer?

I am really worried about ETH price. It will go up. Market cap explodes and price will moon soon together with fees and other costs. This could be very expensive.  


Thank you again for your questions.

An amount of ETH, needed for deploying Smart Contracts on the Ethereum blockchain, is negligible. Approx. 0,1 ETH was used for gas, we could check each transaction to get an exact amount. These ETHs we purchased ourselves. Future costs will be covered from the Development Fund, which is described in the Whitepaper.

We are also observing ETH price with bipolar feelings. Although gas price for transactions (including SC deployment) is adjusted with time, we are counting on that new versions of the Ethereum blockchain will enable charging fees in CreditBit Tokens (not only in ETH).

We are definitly developing custom features for CreditBit Token, but they still rely on the underlying Ethereum blockchain technology that enables storing and executing Smart Contracts.

Dev Team

Letting Eth tokens to charge transaction fees on their own token would be more then fair from ETH developers. They could collect their fee on other currencies as well i guess.

LowByter
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June 16, 2017, 11:43:58 PM
 #2772


Thanks Dev team!

Chinese boss wants to know name and faces of Dev team.  Also names and faces of other team members.  Boss is starting to think previous scammers are behind this coin.  Will not do business with nameless/faceless.  Can you supply names and faces?
[/quote]

There were never any scammers associated with CreditBit project, everything is pretty transparent and without ICO or Premined coins everything is done on brain power and with a modest budget so your boss could step up and support instead of doubt our team.

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June 17, 2017, 01:25:31 AM
 #2773

Thanks for the response, Lowbyter.

As you probably know, I'm new to the cryptocurrencies. I would consider myself currently as someone looking to invest in the currencies, specifically CRB.  I just finished watching some Blockgeeks videos trying to explain the wallets, cold and hot storage, exchanges, etc. Head is spinning a little bit.

Currently, I bought a small amount of BTC on Coinbase, transfered it to Bittrex and traded for CRB.

1) is there a place where I can buy CRB directly with USD? (I have failed with installing Mist, but if that's the answer I will find a work around).
2) is what I did correct, or correct like?
3) I would like to go with trusted and secure sites/exchanges etc, what would someone recommend if my method is crappola?

Cheers,


LowByter
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June 17, 2017, 02:24:39 AM
 #2774

Thanks for the response, Lowbyter.

As you probably know, I'm new to the cryptocurrencies. I would consider myself currently as someone looking to invest in the currencies, specifically CRB.  I just finished watching some Blockgeeks videos trying to explain the wallets, cold and hot storage, exchanges, etc. Head is spinning a little bit.

Currently, I bought a small amount of BTC on Coinbase, transfered it to Bittrex and traded for CRB.

1) is there a place where I can buy CRB directly with USD? (I have failed with installing Mist, but if that's the answer I will find a work around).
2) is what I did correct, or correct like?
3) I would like to go with trusted and secure sites/exchanges etc, what would someone recommend if my method is crappola?

Cheers,


No problem and here are more answers Wink

What you did was correct, usd to btc to crb, you can buy directly with USD on Crypto Dao but it may cost you more.

Install Ethereum wallet on your PC (or do you have Mac?) and let it sunc, it will take a few days so don't worry.

Then you will add watch token and then you can transfer your crb to your wallet.

Also soon jaxx is adding crb as well so there wjll be a mobile wallet again for CreditBit.

ACanJadaS
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June 17, 2017, 02:55:33 AM
 #2775

I didn't realize that it took that long to sync, maybe it wasn't just stalling on me. I have a PC.

Thanks again LowByter! Smiley
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June 17, 2017, 06:04:33 AM
 #2776

I can only say JAXX comming really soon...just receive confirmation! Wink
Since jaxx supported with shapeshift,then later when shpaeshift support CRB you will be able to just trade any coin/token for crb or crb to any other token....amaizing

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ASICrefugee
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June 17, 2017, 08:34:07 AM
 #2777

I can only say JAXX comming really soon...just receive confirmation! Wink
Since jaxx supported with shapeshift,then later when shpaeshift support CRB you will be able to just trade any coin/token for crb or crb to any other token....amaizing

Good news.
Every time I come back to look at this thread the progress just gets better.
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June 17, 2017, 02:36:34 PM
 #2778

Just bought my first CRB coins (300 CRB)

im happy to be on board with you guys Tongue
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June 17, 2017, 02:38:50 PM
 #2779

Just bought my first CRB coins (300 CRB)

im happy to be on board with you guys Tongue

Nice to have u with us .  Welcome aboard
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June 17, 2017, 04:34:23 PM
 #2780

More questions:

If I have all my CRB in Bittrex, and something happens to Bittrex, what happens to my coins?

If I have my wallet address to the account can I still get the coins?

Is the wallet address all that I need to access my coins ever?

What kind of security measures do you guys take with your coins?

Cheers,
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